Net proceeds from the private placement will be used to fund costs associated with a three phase exploration program on the Oro property in New Mexico and specifically the sediment-hosted near surface Stock Pond gold target. A USD$300,000 exploration program on the project will include initial phases of prospecting and trenching followed by drilling planned for the fall of 2016.
Argonaut Gold Inc. is pleased to announce that it has entered into a $30 million revolving credit facility. Additionally, the Company is pleased to highlight results of an updated Preliminary Economic Assessment for its 100% owned San Agustin gold project in Durango, Mexico prepared by Kappes, Cassiday & Associates, Resource Modeling Inc. and Argonaut Golds management team. In accordance with National Instrument 43-101, a Technical Report will be filed within 45 days. The Company also announces it has received approval on the San Agustin Environmental Impact Study from the Mexican Environmental Authority (SEMARNAT). All dollar amounts are in United States dollars unless otherwise stated.
Revenue of (US)$1.5 million in the first quarter 2016 compared to $2.3 million in the first quarter 2015
Loss from operations of $2.3 million compared to a loss of $5.0 million in the first quarter 2015
Net loss of $6.3 million in the first quarter 2016, including $3.9 million of noncash expenses related to the Company’s warrants and convertible loan, compared to a net loss of $3.4 million in the first quarter 2015 that included $0.7 million in noncash income related to the Company’s warrants
Cash and equivalents balance of $2.1 million as of March 31, 2016
Mexican miner Penoles on Thursday reported a 65 percent drop in first-quarter net profit compared to the same period a year earlier, hit by higher financial costs on options it owned.
Arian Silver Corporation is pleased to announce that it has raised £700,000, before expenses, through the placing of 70 million units of 1p each through its broker Beaufort Securities Limited.
Before we begin discussing our first quarter 2016 results and our outlook for the year, I would like to first extend Mexichems deepest condolences and sympathies to all of the people affected by the recent accident at the joint venture PMV plant in Coatzacoalcos. Our thoughts and prayers are with the victims, their families and the community. We also want to express our deep gratitude and admiration to the first responders who took care of the injured and executed the evacuation plan, to the local, state and federal governmental authorities who protected and secured the infrastructure and the population and to the neighboring companies and community members who rushed to the site to assist us. Mexichem is humbled by this outpouring of support and the individual acts of bravery and kindness that we witnessed first-hand. We continue to support the victims of this tragedy and are working closely in tandem with our partners PEMEX, the authorities and a team of international experts to determine the cause of the accident.
Cyprium Mining Corporation is pleased to announce that it has completed a second closing of its previously announced private placement of up to 8,000,000 units at a price of $0.065 per Unit for gross proceeds of up to $520,000. In this closing, Cyprium issued 2,300,000 Units for gross proceeds of $149,500. Each Unit is comprised of one common share in the capital of the Corporation and one share purchase warrant of the Corporation. Each Warrant will be exercisable into one Common Share at an exercise price of $0.10 expiring two years from the date of issuance.
“We delivered a solid first quarter of production at low all-in sustaining costs,” said David Garofalo, President and CEO. “Éléonore and Cerro Negro continued their ramp-up with underground mine development advancing well at both assets. With a focus on NAV per share accretion, we plan to drive further productivity improvements at current operations and to leverage our existing mining camps by advancing low capital intensity, high rate of return internal growth opportunities.”
“I am pleased with our strong cost performance in the first quarter, which is tracking at the low-end of cost guidance set at the beginning of the year,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “These sustained lower operating costs, combined with the positive momentum we have seen in silver and gold prices so far this year, have led to a 16% increase in adjusted EBITDA1 to $34.6 million.
BACANORA MINERALS LTD., the London and Canadian listed lithium and borates company focussed on Mexico, is pleased to confirm the previously announced appointment of Mark Hohnen as a Director of the Company with immediate effect.
Mexico Mining Center © 2021 / All Rights Reserved
