Tag: Investor’s Corner

Fortuna Silver Mines Inc. is pleased to announce that it has completed its previously announced bought deal financing and has issued 11,873,750 common shares, including 1,548,750 common shares that were issued upon the full exercise of the over-allotment option, at US$6.30 per Offered Share for gross proceeds to the Company of US$74,804,625. The Offering was conducted by a syndicate of underwriters co-led by Raymond James Ltd., BMO Nesbitt Burns Inc. and Scotia Capital Inc., and including CIBC World Markets Inc. and National Bank Financial Inc. The net proceeds from the Offering will be used for general working capital purposes.

ALIX RESOURCES CORP. announces that further to its news releases dated February 3, 2017, January 31, 2017 and January 24, 2017, it has completed the first tranche of a non-brokered flow through private placement of 2,585,000 units at a price of $0.07 per unit for gross proceeds of $180,950. Each FT unit consists of one flow through common share and one half non-flow through Share purchase warrant of the Company. Each whole warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.

“For 2017, planned exploration spending on new resource identification has almost doubled, to $14 – $17 million, compared to 2016. The majority of our exploration budget will be spent at our Palmarejo and Kensington operations and at our La Preciosa silver-gold project in Mexico. Our capitalized exploration budget targeting resource conversion is expected to increase by about 10% to $10 – $13 million, most of which is earmarked for Palmarejo and Kensington. We also plan to increase earlier-stage exploration spending by around 50% to $7 million, as we seek to enhance our pipeline of future, high-quality sources of silver and gold production in attractive jurisdictions,” Mitchell J. Krebs, Coeur’s President and Chief Executive Officer.

Leagold Mining Corporation is pleased to announce that it has filed with Canadian securities regulators an independent technical report prepared in accordance with National Instrument 43-101 entitled “NI 43-101 Technical Report and Preliminary Economic Assessment, Los Filos Gold Mine, Guerrero State, Mexico”. The Technical Report presents a description of the Los Filos Gold Mine operations, including Mineral Resources, Mineral Reserves, and a financial evaluation of the current mine. The Technical Report also presents a Preliminary Economic Assessment based on the Mineral Resources of the Bermejal Underground deposit.

Morgan Poliquin, President of Almaden, states, “this financing tops up our treasury and will allow us to continue aggressively drilling in and around the Amended PEA pit, where we have recently been announcing very encouraging new mineralization, as well as advancing the Ixtaca deposit towards a production decision, through advanced studies and permitting.”

Alta Vista Ventures Ltd. is pleased to report that as a result of the high level of demand for its unmanned geophysics survey services, Pioneer Aerial Surveys, a wholly owned subsidiary of Alta Vista, has accelerated its growth plans by purchasing an additional UAV.

Galore Resources Inc. reports that Mr. Uwe Schmidt, Galore’s President and CFO has advised the board of his wish to retire and has provided his resignation as President, Chief Financial Officer and a director, effective immediately. Mr. Mike McMillan, the Company’s Chief Executive Officer and a director will take the place of President of Galore and Mr. Andrew McMillan will be appointed Chief Financial Officer. The Company thanks Mr. Schmidt for all his time, effort and involvement with Galore since 2006 and wishes him the best in his retirement and future endeavors.

“We are exceptionally pleased with our 2017 offtake arrangements,” stated Brendan Cahill, President and CEO. “This material reduction in treatment and refining charges directly increases net revenues and cash flows, while significantly decreasing cash costs per ounce, all very welcome developments in this important transition year at Platosa. The global zinc market continues to tighten, and we are looking forward to yet higher zinc and lead prices over the course of 2017.”

Mammoth Resources Corp. would like to announce that it intends to proceed with a non-brokered private placement of up to 1.875 million units of the Company at an offering price of $0.08 per Unit, for gross proceeds of up to $150,000. Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share until 18 months following closing of the private placement, at an exercise price of $0.12. The Company has set no minimum number of Units to be distributed and no minimum dollar amount required to be raised in connection with the Private Placement.

Mr. Ward is a professional engineer (Ontario) and metallurgist with extensive experience in the processing of gold and base metal ores and industrial minerals. He has executive/senior management experience, practical plant operating experience, extensive engineering experience and has for the past 19 years been intimately involved in a variety of feasibility studies, audits, operations support and project evaluations. After operational positions, Ian spent 16 years with Kilborn Ltd. (now SNC-Lavalin), then 12 years as President of Micon International followed by 5 years with Kinross Gold Corp mostly as VP and Chief Metallurgist.