A new lithium project in northern Mexico has received the first seal of approval to supply the Tesla Motors Gigafactory.London-based Bacanora Minerals and Rare Earth Minerals have received the go-ahead to supply lithium hydroxide to Teslas lithium-ion battery megafactory from its clay deposit in Mexicos north-west.
The aggregate gross proceeds of the private placement were approximately CDN $2 million and were received prior to closing. The Company issued 11,027,555 units at a price of CDN $0.18 per Unit, with 5,555,555 Units allocated to the non-brokered portion and 5,472,000 Units allocated to the brokered portion of the offering. Each Unit consists of one common share and one half of one common share purchase warrant. Each whole Warrant entitles the holder to acquire one common share at an exercise price of CDN $0.25 for a period of 36 months from the close of the placement.
BACANORA MINERALS LTD. and Rare Earth Minerals plc, the owners of the Sonora Lithium Project in Northern Mexico, have finalised a conditional long-term lithium hydroxide supply agreement with Tesla Motors, Inc., the maker of electric vehicles and energy storage solutions.
Goldcorp Inc. and Teck Resources Ltd. said Thursday they are combining two copper-gold projects in Chile. A month earlier Barrick Gold Corp. brought in Antofagasta Plc as a 50 percent partner at its Zaldivar copper mine.
First Majestic Silver Corp. and SilverCrest Mines Inc. are pleased to announce that SilverCrest has been granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of a special meeting of SilverCrest shareholders to consider the previously announced arrangement among First Majestic, SilverCrest and SilverCrest Metals Inc. and the mailing of a joint management information circular.
“During the second quarter the Rosario Mine made a solid comeback in terms of operational performance. Head grades are much improved at close to 322 g/t silver equivalent largely as the result of well managed dilution control. These improvements in addition to other cost control initiatives have brought our costs down 18% to AISC $16.86/oz silver equivalent when compared to the previous full quarter of operations.” said Arturo Préstamo, President and CEO….
Kootenay Silver Inc. is pleased to announce that, further to its press release dated July 16, 2015 and August 11, 2015, it has closed its non-brokered private placement and issued an aggregate of 800,000 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $240,000, including the initial tranche an aggregate gross proceeds raised to the Company is $1,315,950.
El precio del cobre caía un 2.5% hoy, borrando las ganancias de la sesión anterior, en medio de preocupaciones de que los recortes a las tasas de interés en Pekín puedan no ser suficientes para evitar la desaceleración en la economía global liderada por China.
Comex Grade 1 Copper cathodes production of 360 tonnes for the three months ended June 30, 2015.
Copper sales of $2,247,410 for the three months ended June 30, 2015 at an average realized price of $2.83 per copper pound.
Total cash costs per copper pound of $1.61 and average realized margin of $1.22 per copper pound for the three months ended June 30, 2015.
Net loss of $1,935,638 or $0.02 per share for the three months ended June 30, 2015.
The Company’s strategy of focusing on higher grade mill feed on both the exploration and production fronts is proving effective. The Cuchara-Oscar Mine is now providing 48% and the San Ramon Deeps Mine, discovered and opened in 2014, is contributing 40% of the total mill feed to the Guadalupe Production Centre, which is now averaging for the six months 185 grams per tonne (“g/t”) silver. The Company’s objective continues to be to increase the overall silver head grade in the Zacualpan District in 2015 while controlling operating and exploration costs at the site.
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