Tag: Investor’s Corner

“The San Francisco mine had another strong quarter, exceeding the upper end of our production guidance range of 20,000 to 22,000 ounces for Q2 with 22,011 ounces produced and 21,495 ounces sold,” said Greg McCunn, Chief Executive Officer. “Our balance sheet remained strong throughout the quarter with approximately $35 million in cash on hand as at June 30, 2017, as we continued to invest the majority of the cash flow from operations into advancing our high-grade, low cost Ana Paula Project in Guerrero, Mexico. With the recently announced CAD$50 million equity financing expected to close on or about July 20, 2017, our balance sheet will be further strengthened, allowing us to continue to advance the development at Ana Paula, including completion of a definitive feasibility study, change of land use permitting, surface exploration drilling and development of an underground decline for exploration below the proposed open pit.”

Leagold Mining Corporation is pleased to announce the appointment of Rt Hon. the Lord Garel-Jones as an independent non-executive director effective today.

“Our commitments to sustainability excellence, responsible mining and creating sustainable value for our stakeholders are fundamental operating principles imbedded in everything we do, beginning when the first exploration teams take the time and care to consult with communities and establish a spirit of openness, transparency and trust” said Brent Bergeron, Executive Vice President, Corporate Affairs and Sustainability at Goldcorp.

“On behalf of Discovery Metals, I am pleased to welcome Jose Vizquerra to the Board, where we will benefit from his business, exploration and country specific experience,” stated Murray John, Chairman of the Board. “The Board is also delighted that we will benefit from the advice of Arturo, Cal, Craig, Moira and Sean. Mr. Bonillas is widely recognized in Mexican mining circles as an entrepreneur, operator and business leader. The appointments of Mr. Everett, Mr. Roberts, Dr. Smith, and Mr. Tetzlaff recognize the key roles that they have played in the creation of Discovery Metals and their expertise in exploration, project evaluation, financing and capital markets. Along with Company founder and continuing Board director Mark O’Dea, the new appointees will help move the Company forward, as we build a successful exploration and development team capable of rapidly evaluating our exciting property portfolio and looking at other mining opportunities in Mexico.”

Compañía Minera Autlán, S.A.B. de C.V. announces that on June 30, 2017, it completed the sale of an aggregate of 16,370,215 common shares of GFM Resources Limited to its affiliate Metallorum Holding, S.A.P.I. de C.V. The number of shares represents ownership of 85.77% of the issued and outstanding common shares of GFMR. The sale comprises all of the GFMR shares owned by Autlan.

Hecla Mining Company today announced that it has decided not to proceed with its previously announced offer of $500 million of Senior Notes due 2025, as current terms and conditions were not sufficiently attractive for the Company to move forward. In addition, the concurrent tender offer to purchase any and all of its 6.875% Senior Notes due 2021 has also been terminated.

“We are grateful for this expression of confidence from our long-term shareholders,” stated Darrell Rader, President and CEO. “This significant injection of capital enhances our ability to follow-up on the considerable success we have had at the Alamos Silver project in Southern Sonora State. We look forward to updating the market shortly on our drilling plans as we continue to identify targets on the four newly discovered high-grade vein systems.”

– The Company expects that its operating mines will perform in line with its estimates for the second quarter.
– Net loss applicable to common stockholders is expected to be in the range of $(2.0) – $(8.0) million.
– Adjusted EBITDA for the second quarter is expected to be in the range of $38 – $48 million.
– Production, sales and Adjusted EBITDA are lower than the metrics recorded in the first quarter due in part to lower silver, lead and zinc prices, the expected lower grade at Greens Creek, and the ongoing strike at Lucky Friday.
– The Company expects to extend its $100 million credit facility to July 2020.
– The Company and the union representing unionized workers at Lucky Friday are scheduled to meet in early July.

“Close to a month ago, we made a transformative decision to enter into a strategic partnership with Osisko Gold Royalties.” said Darren Koningen, President and CEO of Minera Alamos. “The goals of the new collaboration were to fast-track the path to production at the La Fortuna gold project and quickly expand our presence in Mexico organically and through additional acquisitions. We are extremely pleased to see our growth ambitions validated by the strong level of interest we received for this financing and look forward to providing further updates on our continued progress in the coming weeks”.

The net proceeds of the Offering will be used by the Company to advance its Ana Paula project and for general corporate purposes.