Tag: Investor’s Corner

Pete Dougherty, President and CEO, stated: “We discovered more areas with economic mineralization than expected at both operations. However, as the areas are lower grade, it delayed mining of higher grade areas and resulted in lower production for the second quarter. We anticipate getting into the higher grade areas during the second half of the year which, coupled with production improvements, should improve output. Therefore, we are guiding to the low end of the full year production. While second quarter production was lower than anticipated, as we look to the future, these low grade gains have good potential to extend the life of both mines.”

The Company has issued 37,975,000 units pursuant to the Offering at a price of C$0.40 per Unit for total gross proceeds of C$15,190,000. The Offering included 4,875,000 Units issued pursuant to the Agents’ exercise in full of their option to purchase additional Units. Each Unit consisted of one common share and one-half of one transferable common share purchase warrant. Each Warrant entitles the holder to acquire one common share at a price per Warrant Share of C$0.55 for a period of 30 months from closing.

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, subject to final approval of the TSX. 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 the greater of CDN$0.15 and the five-day volume-weighted average price preceding notice of the Private Placement to the TSX and is subject to the acceleration provision noted above.

Paul Benson, President and CEO said, “In the second quarter we completed the acquisition of Claude Resources, adding the Seabee Gold Operation to our portfolio in a robust precious metals environment and establishing Silver Standard as a high-quality intermediate precious metals producer. At Seabee, we are focused on successful integration and working with the team to identify operational excellence and growth opportunities at the mine.”

Silver Spruce Resources Inc. announces a non brokered private placement to sell up to 7,692,308 units in the capital of the Company at a price of $ 0.065 cents per Unit for total proceeds of up to CDN $500,000. Each unit will consist of one common share in the capital of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Silver Spruce for ten cents at any time prior to the date which is twenty four months from a particular Closing Date, at which time the Warrants will expire. All units acquired pursuant to the private placement, and shares which may be acquired upon the exercise of the warrants, are subject to a four month hold period in accordance with applicable securities legislation.

Southern Silver Exploration Corp. would like to clarify it earlier press release dated July 12, 2016 in which it announced that its shares had commenced trading on the OTCQB Marketplace. The Company is in the final stages of submitting all the required documents to upgrade its U.S. listing to the OTCQB Marketplace, and it anticipates that the process will be completed later this week at which time final notice will be given.

The Company intends to use the net proceeds of the Offering, together with the Company’s current cash resources, to fund operating, development and exploration expenditures at its mining operations and projects, for possible future acquisitions and for general corporate and working capital purposes.

With the closing of the sale of Oro Silver in the 2nd quarter to Endeavour Silver, Canarc is now in its strongest financial position in twenty years, with approximately $6 million in cash and $6.5 million in Endeavour shares (based on the recent Endeavour share price). The enhanced treasury allows the Company to expand its growth strategies and pursue larger M&A opportunities in order to create additional value for shareholders.

“We are pleased to welcome Orex Minerals Inc. to our OTCQX Best Market,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Upgrading to OTCQX will allow Orex Minerals to broaden its visibility with new investors through transparent trading, convenient access to its news and financial disclosure and dedicated capital market support.”

After dropping below $14 USD per ounce in January following a five-year decline, silver prices have been going from strength to strength in 2016, nudging $20.40 USD per ounce as of July 11. Whether you call it tenacity or just plain stubborn, the silver explorers and miners who have stuck it out in Mexico, the number one silver-producing country in the world, are emerging from the dark days of the downturn with renewed enthusiasm.