Tag: Investor’s Corner

Southern Silver Exploration Corp. reported that at its annual general meeting held on March 30, 2017 the following directors were re-elected: Lawrence Page, Q.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan, Peter Cheesbrough and Donald Head. In addition, the shareholders re-appointed Smythe LLP, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver’s rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance.

Alset Energy Corp. is pleased to announce that it will be changing its name to Alset Minerals Corp., while keeping its current stock symbol. The name change reflects the company’s broader focus and commitment of developing its Mexican salar projects, which can potentially serve a wide spectrum of agriculture, chemicals and industrial minerals markets, in addition to its lithium focus.

Geologix Explorations Inc. is pleased to announce that it has retained Eight Capital to act as lead agent, on behalf of a syndicate of agents, to offer for sale, on a “best efforts” private placement basis, units of shares and warrants of the Company to be structured and priced in the context of the market, for total gross proceeds of up to $3,000,000. The net proceeds of the Offering will be used for exploration and development expenditures at the Company’s Tepal Gold/Copper Project, working capital and general corporate purposes.

Fortuna Silver Mines Inc. today provided an update on the ongoing regulatory review of the Company’s 2015 annual filings by the United States Securities and Exchange Commission and announced the issuance of a management cease trade order by the British Columbia Securities Commission and other Canadian provincial securities regulatory authorities.

“Alamos is once again debt-free and will benefit from substantial interest savings over the next several years with the retirement of these Notes. We have significantly strengthened our balance sheet and are well positioned to fund our portfolio of attractive internal growth opportunities,” said John A. McCluskey, President and Chief Executive Officer.

Westminster Resources Ltd. announces that its board of directors has approved a resolution consolidating the Company’s issued and outstanding common shares on the basis of one new common share for every ten existing common shares. Currently, the Company has 44,288,292 common shares issued and outstanding, and upon consolidation, there will be approximately 4,428,829 common shares issued and outstanding. The board of directors believes that the consolidation will help the Company complete future financings and advance its projects.

Plata Latina Minerals Corporation is pleased to announce that, it has received all necessary approvals from its shareholders and the TSX Venture Exchange with respect to the option agreement on its “Naranjillo” property previous announced on February 8, 2017, and is now ready to close on the transactions contemplated thereunder.

Primero Mining Corp. announced today that, further to its news release dated March 24, 2017, it has closed the extension of the maturity of its $75 million revolving credit facility with its syndicate of lenders. The RCF will now mature on November 23, 2017 and will exclude financial covenants until the extended maturity date. The RCF continues to be secured by a charge over substantially all of the Company’s assets and is now guaranteed by Silver Wheaton for a fee of $2.6 million payable at maturity. Today, Primero drew down $10 million from the RCF, which now has $60 million drawn. An additional $15 million remains available for drawdown, subject to Silver Wheaton’s consent, unless the proceeds are used solely in connection with the restart of the San Dimas operations.

The gross proceeds of the Private Placement will be used to advance exploration activities and some minor working capital and general corporate expenses. The exploration activities to include mechanical trenching and construction of access to facilitate drilling plus some in-fill mapping and sampling on the recently announced PIMA geochemical sampling program.

“The Company had a stronger year in 2016, generating increased cash flow in the second half of the year due to higher silver and base metal prices, and our ongoing focus on cost management,” said Darren Blasutti, President and CEO. “We expect to continue to create positive operating cash flow until the San Rafael Project begins commercial production, which is expected to increase the Company’s revenue and cash flow while significantly decreasing operating costs in late 2017 and beyond. San Rafael, coupled with our acquisition of the San Felipe Project and strategic partnership with Glencore, will drive accretive future growth for our shareholders.