Tag: Investor’s Corner

David Coburn, CEO of Gainey Capital, commented, “Gainey will continue to push forward with our exploration program, drilling our most prospective identified targets. Our geological team has recently completed a comprehensive onsite technical review and is expecting to establish several new targets for a Phase 2 Drill program shortly. We expect to provide more specifics on both the Phase 2 exploration and additional targets as soon as they become available.”

Mark Brennan, President and CEO of Sierra Metals commented “2016 has been a transformational year for Sierra and the stage has been set for exceptional growth following a very successful operational improvements program and the Esperanza discovery at the Yauricocha Mine, development of new areas for higher grade ore at Bolivar and the reinterpretation of geology at the Cusi Mine. In its operations, the Company also reported record tonnage throughput and realized remarkable increases in revenue, cash flows and adjusted EBITDA.”

George Paspalas, President and CEO, commented, “2016 was a truly significant and outstanding year for MAG. The company is well funded. We continue to discover high potential mineralization beneath the Valdecañas Bonanza Zone, which remains open, and we now have an alternative project scope that enhances the value of the project upon start-up. We continue a strong working relationship with Fresnillo as we head towards production, and are very excited about the strategy to explore some of the greenfield exploration targets on the Juanicipio project.”

Sierra Metals Inc. announces that Mark Brennan has tendered his resignation as President and Chief Executive Officer. Mr. Brennan will continue in his current role for a period of 30 days to facilitate the implementation of an orderly succession plan. Further details in this regard will be announced in due course.

Telson Resources Inc. is pleased to announce the appointment of Senor Remigio Martinez Muller to its Board of Directors, effective immediately. Sr. Martinez worked his whole professional career with Grupo Mexico starting in 1967 as a Mine Geologist in Taxco, Guerrero and ending as Grupo Mexico’s Director of Exploration in 2013. From 2013 to 2016 he maintained an exclusive consultant position with Grupo Mexico and became an independent consultant thereafter.

“Agnico Eagle is pleased to welcome an important new strategic institutional investor to our share register, and we look forward to continuing to develop this relationship over time,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “The offering also further enhances our financial flexibility as we build out our platform of high quality growth projects,” added Mr. Boyd.

Paul Benson, President and CEO said, “With gold representing approximately 70% of our revenue, the current name does not accurately reflect our business. We have evolved from a silver-focused producer to an intermediate precious metals producer with three mines in the Americas. The proposed name, which includes the initials of our existing name, is a natural evolution in our more than 70-year history. While we are recommending a change to our name, our relentless focus on creating shareholder value remains.”

Bradford Cooke, CEO of Endeavour Silver, commented, “We look forward to developing El Compas into our fourth mine. The mine should generate robust economic returns at current metal prices because the two known mineralized zones (El Compas and El Orito) are relatively shallow and high grade. The operation is very scalable if we discover or purchase additional mineral resources in the Zacatecas district and refurbish the second ball mill to double the plant capacity to 500 tonnes per day (tpd). With the low capital investment of US$10 million funded by existing cash, and the short timeline of only six months to initial production once we receive the explosives permit and tax clarity, the El Compas mine has the near-term potential to become a healthy contributor to our consolidated cash flow.”

Primero Mining Corp. announces that it has agreed in principle with its lenders to an extension of its $75 million revolving credit facility previously maturing in May 2017. Upon completion of an amending agreement, the maturity of the RCF will be extended by six months to November 2017, providing the Company with greater flexibility to replace the RCF with a longer-dated term loan.

“We are excited to see the results of our efforts over these past months coming to fruition with an anticipated production increase in fiscal 2017,” stated Arturo Préstamo, Santacruz’s President and CEO. “This expected increase in production will be the result of significant development work completed at the Veta Grande and Rosario projects in the fourth quarter of 2016, which has set the stage for more robust 2017 operations. Although our focus on these development activities had the effect of reducing our fourth quarter 2016 production total, I am pleased to advise that the Company is now well positioned to steadily advance our production levels throughout the year.”