Tag: Investor’s Corner

Fortuna Silver Mines Inc. is pleased to report production results for the first quarter of 2019 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.2 million ounces of silver and 13,314 ounces of gold, plus base metal by-products. Fortuna is on schedule to produce between 8.2 – 9.0 million ounces of silver and between 49 – 54 thousand ounces of gold or between 11.7 – 12.9 million ounces Ag Eq1 in 2019, in accordance with our annual production guidance.

“First quarter operating results were in-line with our expectations” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “Our top two 2019 initiatives – successfully ramping up operating activities at Silvertip and completing the installation of the high-pressure grinding roll (“HPGR”) unit at Rochester – remain on-track. Our Kensington mine continues to see the benefit of higher grades from the Jualin deposit, while Wharf exceeded its plan during the first quarter and is positioned to deliver higher production during the remainder of the year.”

Oroco Resource Corp. is pleased to announce that its affiliate, Altamura Copper Corp., has acquired an option to purchase 40,000,000 shares of Aztec Copper Corp. held by Fierce Investments Ltd. At the time of their issuance, the Aztec Shares represented in excess of 90 percent ownership of Aztec. Along with its Mexican subsidiary, Prime Aztec Mexicana, S.A. de C.V., Aztec is a plaintiff in the Mexican judgement which is currently impeding the registration of the transfer of the Santo Tomas Concessions to an Altamura subsidiary, Xochipala Gold, S.A. de C.V. The Aztec Shares constitute the primary consideration paid by Aztec in the transaction which was the basis of the claim that resulted in the Mexican judgement. Aztec has subsequently denied the existence of the Aztec Shares and therefore Fierce is currently taking the necessary steps to secure its ownership rights in the Aztec Shares.

VVC Exploration Corporation is pleased to announce that Ms. Emily King has agreed to join the Board of Directors, following the resignation of Mr. Michel Lafrance. VVC would like to thank Mr. Lafrance, who served the Company as Director since July 2006 and as Secretary-Treasurer since December 2002, and who will remain as a part of the Management Team and as Secretary-Treasurer of the Company.

“ I am very pleased to say that after a tough start to the year at our Black Fox and Gold Bar mines, we have delivered a strong close to the first quarter. In March, gold production improved significantly at Black Fox, allowing us to achieve 93% of our budgeted production for the quarter. The issues that pushed the start-up of commercial production at Gold Bar from Q1 into Q2 have largely been resolved. The San Jos é and El Gallo mines are performing well and are on-track to deliver over 50% of our planned 2019 production of 205,000 gold equivalent ounces . I’m excited about starting our exploration drilling programs in Timmins and Nevada, which will generate results for the rest of the year,” said Rob McEwen, Chairman and Chief Owner.

“We have begun the important task of integrating our newest mine, the Tucano Gold Mine, into our portfolio of precious metals mines and projects”, stated James Bannantine, President & CEO. “Given the timing of the Beadell acquisition, our consolidated results for Q1 only reflect Tucano operating results for the last three weeks of the first quarter. Despite this, consolidated gold equivalent metal production increased by 25% compared to the last quarter of 2018. We are focused on completing the commissioning of the supplemental oxygen supply at Tucano before the end of this month, which is designed to enable the processing of higher-grade ore and increase gold recoveries. In addition to production, the Tucano Gold Mine immediately adds significant gold reserves and resources and, together with our Mexican operations, has transformed the Company into a new intermediate precious metals producer focused on Latin America.”

Goldcorp Inc. and Newmont Mining Corporation are pleased to announce that Goldcorp has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement whereby Newmont will acquire all outstanding common shares of Goldcorp in exchange for 0.3280 of a share of Newmont common stock and $0.02 in cash for each Goldcorp common share.

“The Croesus announcement is a positive step toward bolstering our balance sheet and increasing our diversity of assets. We believe the historic resource at the Kay Mine to be robust in grade and open to expansion, with significant exploration activities. We extend best wishes to Croesus as they advance on the project,” stated Karl Boltz, CEO of Silver Spruce.

With the proceeds of the second tranche, Defiance significantly reduced its outstanding liabilities and increased its cash balance. Defiance also intends to use the proceeds of the financing to permit and complete an aggressive drill program at its San Acacio Silver project.

Sable Resources is pleased to announce a non-brokered offering of a maximum 10 million units priced at $0.15 consisting of one common share and one half of one common share purchase warrant. Each full purchase warrant will entitle the holder to acquire one additional common share of the company at an exercise price of $0.25 for a period of two years. The financing will close on or about April 16th 2019. The Company may pay a finders fee to certain qualified registrants assisting in the Offering in an amount to be determined. Funds will be used to complete phase two drilling and engineering on the Margarita Project in Mexico, complete geological mapping on the Don Julio Project in Argentina and for general corporate purposes.