Tag: Investor’s Corner

Fred Stanford, President & CEO of Torex stated: “We have been looking forward to our first quarter as producers and we are proud to report that the ramp up to full production continues to outperform expectations. In June, the processing plant averaged 11,618 tpd, and delivered a gold recovery of 89%, nicely above design levels of 87.1%.The Guajes deposit has also exceeded expectations.Mined to date ore tonnes in Guajes have been 8% higher than predicted by the reserve model and the grade of those tonnes has been 17% higher than the model, for a total of 27% more ounces than plan.The net result for the quarter was an average processed grade of 3.15 g/t.”

Positive net operating margin from the oxide plant lease (oxide plant lease revenue less lease costs) of $1.1 million in the second quarter 2016 compared to a negative net operating margin (sale of metals less costs of metals sold) of $0.8 million in the second quarter 2015. Loss from operations of $2.6 million in the second quarter 2016 compared to a loss from operations of $4.5 million in the second quarter 2015. Net loss of $3.9 million in the second quarter 2016, which included non-cash derivative losses of $1.2 million related to the Company’s warrants and convertible loan, compared to a net loss of $3.9 million in the second quarter 2015, which included a non-cash gain of $0.2 million from the Company’s warrants. Cash and cash equivalents balance of $3.9 million as of June 30, 2016. Debt balance of zero as of June 30, 2016

“With our second quarter production issues behind us, stronger silver and zinc prices, a strengthened balance sheet, and the expected commencement of construction at San Rafael in September, the second half of 2016 is shaping up to be a very exciting time for the Company,” said Americas Silver Corporation President and CEO Darren Blasutti. “The third quarter is off to a good start from a production and cost perspective, and management will focus on generating free cash flow from the mines for the rest of the year.”

Paul Benson, President and CEO said, “In the second quarter of 2016 we completed the acquisition of Claude Resources, adding a third cash-flow generating mine to our portfolio. The combined production for our operations totaled nearly 100,000 gold equivalent ounces, including full quarter production at the Seabee Gold Operation and we are well-positioned to deliver a strong second half of the year.”

Torex Gold Resources Inc. is pleased to announce the appointment of two new members to its Board of Directors: Mr. William M. (Bill) Shaver and Ms. Elizabeth A. Wademan.

BACANORA MINERALS LTD., the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that the Company will be postponing its upcoming annual and special meeting of its shareholders on August 15, 2016 until September 28, 2016. The Company decided on the Postponement in connection with the recent passing of Hon. Colin Orr-Ewing, a Non-Executive Director on August 3, 2016.

GoGold Resources Inc. is pleased to announce the release of financial results for the three and nine months ending June 30, 2016. The Company recorded revenue of $6.0 million from the sale of 348,747 silver equivalent ounces at a cash cost of $6.91 per silver equivalent ounce in the quarter.

Horizon Minerals Corp., is pleased to announce it has engaged Gold Exploration Management Inc., a private corporation controlled by David A. Bending, M.Sc., P. Geo., providing mineral exploration project management services. Gold Exploration has been actively involved in the evaluation of Gold and Lithium exploration concessions in Nevada, California and Mexico, and will be instrumental in helping the Company to acquire potential projects. Clayton Valley, Nevada hosts the only commercial producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producers.

“I am pleased to welcome Gord to our team as we prepare Canarc for a new phaseofgrowth. His extensive experience and past success should complement our existing skill sets well. Canarc is now focused on acquiring gold-silver resource projects with expansion potential and gold-silver mining projects with production potential in the Americas. The Company is well funded with over $12 million cash and marketable securities as we embark on an ambitious new growth plan.”

“Our exploration program at Mulatos continues to deliver excellent results, most notably at La Yaqui where step out drilling has significantly expanded the zones of mineralization. Reflecting the increased exploration budget announced earlier this year, we had a record 13 rigs drilling at Mulatos during the quarter. Development of La Yaqui remains on track and with ongoing exploration success, we believe there is potential for a substantial increase in reserves and resources,” Mr. McCluskey added.