The production has achieved a sustainable rate in the last quarter stated Robert Eadie, CEO. Our next challenge is to raise the production by achieving higher gold and silver grades through an intensive exploration program that we are currently carrying out.
“Although we believe the Kay Mine project has good potential, its sale to Croesus has allowed us to significantly reduce our debt and focus on drilling our flagship Pino de Plata project near Coeur Mining’s Palmarejo Mine, in western Chihuahua State, Mexico,” stated Karl Boltz, President & CEO of Silver Spruce. “Drilling at Pino de Plata is scheduled to begin next week.”
‘Michael could always be counted on to bring a positive outlook even during challenging times. His steadfast optimism and jovial demeanor were contagious and Im grateful for the mentorship that he bestowed upon me over the years. He will be dearly missed,’ David Wolfin President & CEO, Avino Silver & Gold Mines Ltd.
“Great Panther completed a key strategic milestone in the first quarter of 2019 by closing the acquisition of Beadell Resources and its 100% owned Tucano Mine in Brazil. The acquisition of the Tucano Mine transforms Great Panther into a 200,000 gold equivalent ounce per year intermediate precious metals producer with diversified operations in leading Latin American jurisdictions,” stated James Bannantine, President and CEO. “The transaction, which closed on March 5th and contributed to Great Panther’s results from that date, added modestly to first quarter results.”
Sable Resources Ltd. is pleased to announce that it has closed the first tranche of a non-brokered private placement pursuant to which it has issued 5,753,333 units at a price of $0.15 per Unit to raise aggregate gross proceeds of approximately $863,000. Each Unit consists of one common share of the Company and one-half of one share purchase warrant. Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.25 until the date which is two years from the closing date of the Offering.
SilverCrest Metals Inc. is pleased to announce the filing of a technical report titled, Technical Report and Mineral Resource Estimate for the Las Chispas Property, Sonora, Mexico with an effective date of February 8, 2019. The Las Chispas Report was independently completed for the Company by Tetra Tech Canada Inc., in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. There are no material differences in the Mineral Resources disclosed in the Las Chispas Report and disclosed in the March 14, 2019 news release.
Jorge A. Ganoza, President and CEO, commented, “Production and cash costs at our Caylloma and San Jose mines for the first quarter underpin a solid start for the year with EBITDA margins of 40 percent. Our cash flow generation objectives remain on track to continue contributing to the funding of our Lindero gold project in Argentina.” Mr. Ganoza continued, “As of the end of April, Lindero construction progress is at 47 percent completion, with 97 percent of the direct capital expenditures committed, and 61 percent of the total projected capital spent.” Mr. Ganoza added, “With mine preparation set to be concluded in May and construction of the crushing and leach pad facilities advancing according to schedule, we plan to initiate placing ore on the leach pad early in Q4 2019.”
Almaden Minerals Ltd. has entered into a secured gold loan agreement with Almadex Minerals Ltd. pursuant to which Almadex has agreed to loan up to 1,597 ounces of gold to Almaden. The approximate value of this gold is US$2 million.
Erwin Wong, Ridgestones Board Director and Chief Financial Officer, commented: We are excited and fortunate to welcome Ben to our Board of Directors. His wealth of capital markets experience in the mining sector on the research, valuation, and investment side significantly complements the skill set of our existing board members. We look forward to his valuable input and advice in the exciting development of our Rebeico gold-copper project in Mexico.
Alien Metals Ltd, the AIM quoted exploration and development company, is pleased to announce that it has raised £300,000, before expenses, through the placing of 200 million Common shares or no par value at a price of 0.15 pence each through its broker First Equity Limited. The proceeds of the Placing will be used for further exploration work at Donovan 2 as detailed below and general working capital purposes.
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