Tag: Investor’s Corner

McEwen Mining Inc. is pleased to report consolidated production for Q2 2017 of 22,191 gold ounces and 779,487 silver ounces, or 32,584 gold equivalent ounces, using a 75:1 gold to silver ratio.

“Great Panther had an excellent second quarter, setting a new Company record for consolidated metal production and a new record for metal production in Topia,” stated Robert Archer, President & CEO. “I would like to congratulate our entire operations team, especially in Topia, for all their hard work and efforts in achieving this quarter’s milestones.”

Fortuna Silver Mines, Inc. is pleased to announce second quarter 2017 production results from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 2.1 million ounces of silver, 14,547 ounces of gold, plus base metal by-products. Silver and gold production for the first six months totaled 4.2 million ounces and 27,747 ounces respectively; being 1 percent and 4 percent above the company’s mid-year projection. Fortuna is on schedule to produce 8.1 million ounces of silver and 52.4 thousand ounces of gold or 11.2 million Ag Eq* ounces in 2017.

Jim Williams, Chief Executive Officer of Arian Silver, commented, “this additional capital can be immediately deployed to extend the exploration of the three lithium projects over which we have an option to acquire, and also to seek additional projects in the vicinity which we believe could host significant deposits of lithium.”

Leagold Mining Corporation is pleased to announce it has received Mexican anti-trust commission approval with respect to the previously announced US$29 million subscription receipt financing provided by a fund managed by Orion Resource Partners in connection with the Company’s acquisition of the Los Filos Mine from Goldcorp Inc. on April 7, 2017. To accommodate COFECE requirements, when acquiring the Los Filos Mine, Orion’s US$50 million equity investment in Leagold on April 7, 2017 was split into US$21 million in common shares of Leagold and US$29 million in subscription receipts, with each subscription receipt automatically converting into one common share on receipt of the COFECE approval, without payment of additional consideration. In connection with the acquisition of the Los Filos Mine, Goldcorp Inc. agreed to defer US$29 million of the US$279 million cash portion of the purchase price by accepting a short-term promissory note from Leagold.

Endeavour CEO Bradford Cooke commented, “Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. Both mines are now performing in line with their operating plans for the year. The Guanaceví mine continues to lag behind plan and an internal review has been initiated in order to identify additional actions needed to improve tonnes and/or grades and production…

“All three of our mines produced according to plan in the second quarter,” said Darren Pylot, President and CEO of Capstone. ” Pinto Valley set new quarterly, monthly and daily throughput records after returning to full operations from the heavy rain and maintenance activities early in the year.”

“During the quarter, silver production was impacted by unusual efforts by unionized workers to illegally disrupt mining activities which caused minor stoppages at La Parrilla, Santa Elena and a more serious stoppage at our La Encantada operation,” said Keith Neumeyer, President & CEO. “Pointing to a specific cause is difficult – whether due to higher gasoline prices or higher taxes in Mexico – but worker dissatisfaction among union employees throughout the Mexican mining industry is at the highest levels witnessed in the Company’s fifteen year history.”

The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project. The Company paid an aggregate cash commission on the initial tranche of CDN$100,744, in addition to issuing an aggregate of 1,259,300 non-transferable common share purchase warrants. Each Finders’ Warrant entitles the holder thereof to acquire one Common Share for CDN$0.10 until the second anniversary of the closing of the initial tranche of the Private Placement.

Igor Gonzales, President and Chief Executive Officer of the Company, stated “the listing of our common shares on the NYSE MKT represents an important corporate milestone for Sierra Metals and another step in our plan to enhance shareholder value by increasing stock liquidity and exposure to institutional investors”.