Tag: Investor’s Corner

Mark Brennan, President and CEO of Sierra Metals commented: “Sierra had a very strong start in 2015 with record production, throughput and strong cash flows. However, the latter part of 2015 has been challenging with weaker financial and production results as a result of lower metal prices and the introduction of important operational improvements, primarily at the Yauricocha Mine. These changes and improvements have temporarily impacted production levels but aim to structurally improve our operations and production capabilities for the longer term.”

Red Tiger Mining Inc. announces that it has changed its auditors from Ernst & Young LLP to MNP LLP.

Kootenay Silver President and CEO James McDonald stated “We are very pleased to have the opportunity to consolidate the ownership of the royalty at this time. Given our belief in La Cigarra’s silver resources and the potential for additional discoveries the opportunity to repurchase the royalty is beneficial to the project.”

Cyprium Mining Corporation is pleased to announce that it has engaged International Mineral Development and Exploration Inc./Compañia Minera Cascabel S.A. de C.V. as technical advisors for the development and exploration program at the Company’s Potosi silver mine located in the historic Santa Eulalia mining district located in the State of Chihuahua, Mexico. IMDEX-Cascabel is led by Dr. Peter Megaw, who is considered an expert on Carbonate Replacement Deposits (CRDs) of which the Santa Eulalia mining district is historically considered the world’s largest example. His doctoral work at the University of Arizona was a comprehensive study of the district and he is very familiar with the Potosi Mine.

GoGold Resources Inc. is pleased to announce that at the annual and special meeting of shareholders held on March 24, 2016, the shareholders re-elected Terence Coughlan, Phillip Gaunce, George Waye, Terrence Cooper and Dana Hatfield as directors of the Company for the forthcoming year. Each director was elected by a majority of the shareholders on a show of hands and the table below presents the votes represented by proxy in respect of the election of each director:

Jim Bannantine, the Company’s President and Chief Executive Officer stated “I am extremely proud of what Aura has achieved in 2015 and into the early part of 2016. 2015 certainly presented challenges operationally, technically and in the commodity markets and the Company has met those challenges as well as revised cost and production targets. We have focused on increasing cash flow optimization from our operating gold assets at San Andres and Sao Francisco and where necessary, internally re-organized and re-strategized to successfully continue servicing our debt burden and maintain our interests in our Aranzazu and Serrote copper projects.

Colibri Resource Corporation is pleased to announce that it has obtained an extension to close its non-brokered private placement financing to raise gross proceeds of up to $80,000. Final materials will then be due on or before April 25, 2016. No further extensions will be possible.

Timmins Gold Corp. announced, pursuant to disclosure requirements of NYSE MKT Company Guide Section 610(b), that its audited consolidated financial statements for the year ended December 31, 2015, which was filed with the Securities and Exchange Commission on March 16, 2016, contained an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern.

“During 2015, we laid the groundwork for a return to high grade and low cost production at Platosa,” stated Brendan Cahill, President and Chief Executive Officer. “Despite challenging commodity and equity markets and operating conditions, we enhanced our board and management team, developed a plan to comprehensively solve Platosa’s water issues and arranged the financing to commence this optimization program. Operating costs per tonne were reduced by almost 30% from 2014, even while mining less tonnage in 2015, and corporate G&A was reduced below 2005 pre-production levels. Additionally, we continued to see the benefits of long term dewatering efforts at Platosa, with 2015 development supporting access to the Rodilla Manto in late February 2016, seven months ahead of schedule. With access to Rodilla and the optimization program underway, we expect to see improving rates of production and ore grades through the course of this year.”

The net proceeds from the placement are intended to be used to finance the costs related to the continuing discussions with Li3 Energy Inc. pursuant to the letter of intent with Li3 announced on Feb. 1, 2016, including to carry out and complete the required due diligence on Li3 and the Maricunga lithium project, for the review and assessment of additional potential lithium mineral property acquisitions and the negotiation of related formal documentation for any such acquisition(s), for property payments, and for general and administrative expenses and working capital.