Marlin Gold Mining Ltd. is pleased to announce that it has completed its previously announced non-brokered private placement of common shares. Pursuant to the Equity Offering, Marlin issued 13,000,000 common shares of the Company at a price of $0.50 per Common Share for aggregate gross proceeds of approximately $6,500,000.
Further to the previously announced, Change of Business and Sale of Mining Assets detailed in the Press Release of June 28, 2016 available at www.sedar.com, the Company announces that it has entered into an unsecured loan facility in an amount of up to $150,000 in order to fund a portion of the Company’s working capital requirements during the Reverse Takeover. Readers will recall that in the June 28, 2016 Press Release the Company announced that it had entered into a conditional share purchase and sale agreement to sell 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project and requires the payment of certain taxes and payables to complete the transaction and its intention to complete, as one of the conditions of the Mexican Sale, a reverse takeover and change of business transaction to transition its existing mining business to an investment company to include the areas of equipment financing in the construction and infrastructure areas and real estate-oriented investments.
Candelaria Mining Corp. is pleased to announce the completion of the acquisition of the Caballo Blanco Gold Project in Veracruz, Mexico from Molimentales Del Noroeste, SA de CV, a subsidiary of Timmins Gold Corp. Pursuant to the terms of the agreement, Candelaria has made a final payment of US$3.154 million to Timmins to acquire the Caballo Blanco Gold Project and deferred a US$2.5 million payment to be made at the earlier occurrence of the Company receiving permits or June 24, 2017, secured by a promissory note and security interest. The Company has also assumed US$5 million in liabilities in exchange for the project and all related rights and assets.
Timmins Gold Corp. is pleased to announce the completion of the sale of the Caballo Blanco Gold Project in Veracruz, Mexico announced on May 11, 2016 with Candelaria Mining Inc.
Defiance Silver Corp. is pleased to announce that Peter J. Hawley, BSc, BEng, PGeo. has joined Defiance as a Director and Chairman of the Board.
The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project. The Company has agreed to pay an aggregate cash commission of CDN$30,060, in addition to an aggregate of 200,400 non-transferable common share purchase warrants to a broker. Each Placement Agent’s Warrant entitles the holder thereof to acquire one Common Share until the date that is two years following closing of the Private Placement at CDN$0.205 and is subject to the acceleration provision noted above.
México tiene nuevos proyectos de producción de plata por más de 1,665 millones de dólares con fecha de inicio entre el 2016 y 2019, informó la Cámara Minera de México (Camimex).
La compañía, que extrae plata y oro de seis minas en México, dijo que espera producir 850.000-870.000 onzas de oro este año, en comparación con un pronóstico anterior de 775.000-790.000 onzas.
“During the second quarter at the Rosario Mine we experienced some equipment issues that were resolved by quarter’s end, resulting in a slight production reduction. Going forward such equipment issues are not expected to be a factor given the recent improvement in our working capital.” stated Arturo Préstamo, CEO of Santacruz adding, “At the Veta Grande Mine production and mine development improved significantly by quarter’s end with the recent addition of a new jumbo drill and underground haulage equipment.”
La minería tuvo en 2015 uno de sus peores años; algunos analistas lo compararon con las crisis financiera mundial de 2008 y la asiática de 1997, al considerar que los precios de los metales fueron a la baja. El fierro cayó a su nivel más bajo desde mayo de 2009 – 40 dólares por tonelada -, el oro 8 por ciento, la plata 18 por ciento y el cobre 20 por ciento.
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