Tag: Investor’s Corner

“We continued to make good progress in reducing operating costs during the first quarter,” stated Brendan Cahill, President and Chief Executive Officer. “After accessing the Rodilla Manto earlier than planned in late February, we realized an AISC of $11.72 for March, demonstrating the opportunity to dramatically reduce costs per ounce under dry mining conditions at Platosa. We continue to execute our dewatering strategy, with the primary production wells now being drilled. Additionally, subsequent to the end of the quarter, we strengthened our balance sheet with a financing from Eric Sprott and the closing of the transfer of the DeSantis property’s mining claims to Oban Mining. Looking ahead, our focus is to continue to improve operating results as the Platosa optimization program is implemented.”

“Profit margins increased in the first quarter due to additional cost savings and various operational improvements across the business,” stated Keith Neumeyer, President and CEO of First Majestic. “Even with relatively flat silver prices compared to the previous quarter, we generated strong free cash flow due to lower operating costs and higher production at the mines. Our new mine, Santa Elena, had another great quarter and continues to exceed our expectations. Due to the significant cash flows now coming into the business combined with the recently announced C$50 million financing, we are beginning to evaluate internal growth projects, starting with increasing development and exploration at each of our operations in the coming quarters.”

Corex Gold Corp. reports that as announced on April 25, 2016, the Company has issued a total of 2,205,000 common shares at a price of $0.08 per common share to extinguish debt in the aggregate of $176,400 effective May 9, 2016 owed to related and non-related parties. The common shares are subject to a four month plus one day hold period that will expire on September 10, 2016.

VENDOME RESOURCES CORP. announces that it is unable to pay its annual Sustaining Fees to the TSX Venture Exchange. The Company has no available cash at this time and cannot make the payment that was due on April 30, 2016.

Canarc Resource Corp. announces that it has signed a definitive agreement with Endeavour Silver Corp. pursuant to which Canarc will sell to Endeavour 100% of the shares of Canarc’s wholly-owned subsidiary, Oro Silver Resources Ltd., which indirectly holds a 100% interest in the El Compas Gold-Silver Mine Project in Zacatecas, Mexico, in consideration for 2,147,239 free-trading common shares of Endeavour, with an aggregate deemed value of CAD$10.5 million.

Jorge A. Ganoza, President and CEO, commented, “We have made a strong start to the year operating well within our production and cost targets and look forward to the commissioning of our key expansion project at the San Jose Mine in July.” Mr. Ganoza continued, “At San Jose’s new production rate of 3,000 tpd, the company will target total annual consolidated production of approximately nine million ounces of silver and fifty-two thousand ounces of gold, with an AISCC below $9.0 per ounce of silver.”

Corex Gold Corp. announces that, further to its news releases of April 14, 2016, the Company has subject to final acceptance from the TSX Venture Exchange has completed the non-brokered private placement offering of 20,000,000 units at a price of $0.05 per Unit for gross proceeds of $1,000,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable by the holder to acquire one additional common share at a price of CAD$0.15 for a period of twenty four months following the closing of the financing.

Norvista Capital Corporation today announces that it acquired, together with Norvista Capital I Limited Partnership, an aggregate of 5,000,000 units of Minera Alamos Inc. pursuant to a non-brokered private placement at a price of $0.10 per Unit. Each Unit was comprised of one common share and one-half of one common share purchase warrant of Minera. Each Warrant entitles the holder thereof to acquire one additional common share of Minera at a price of $0.15 at any time prior to May 4, 2019. The LP, which is managed by the Company, invests alongside Norvista on a pro rata basis in qualifying investments.

Mr. Alain Lambert, Chairman and CEO of Cyprium stated: “While we have accomplished much from an operational standpoint over the last year, we are disappointed that there was a delay in the completion and filing of our 2015 audited statements. We do not have any audit issues and the operations in Mexico continue according to plans. The delay is in part due to the complexity of certain aspects of the Potosi joint venture. The trading in the shares of the Company will be halted until the financials are filed.”

Minera Alamos Inc. is pleased to announce closing of the second tranche of its previously announced private placement for aggregate proceeds of $500,000.