Mercator Minerals Ltd. announces, further to the August 1, 2014 press release, that its indirect wholly-owned subsidiary, Mineral Park Inc. has not reached agreement with the syndicate of lenders under the MPI credit facility to extend their forbearance in exercising any rights and remedies (as a result of continuing defaults) under the Credit Facility beyond August 15, 2014.
MAG Silver Corp., announces that it has issued 706,000 common shares at C$10.25 per share upon the remaining exercise of the over-allotment option related to the previously closed C$79 million bought deal financing. With this further exercise of the over-allotment option, which is now fully exercised, the additional gross proceeds of C$7,236,500 brings the total gross proceeds raised from the full offering to C$86,284,500. The Company’s cash position is now approximately US$90 million with no debt.
MAG Silver Corp. announces the Company’s unaudited financial results for the three and six months ended June 30, 2014. For complete details of the second quarter unaudited Condensed Interim Consolidated Financial Statements and related Management’s Discussion and Analysis, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in United States dollars unless otherwise specified.
Argonaut Gold Inc. is pleased to announce its financial and operating results for the second quarter ended June 30, 2014. All dollar amounts are expressed in United States dollars unless otherwise specified.
Pan American Silver Corp. produced 6.56 million ounces of silver and 37,700 ounces of gold during the second quarter of 2014, an increase of 6% and 26%, respectively from the second quarter of 2013. All-in sustaining costs per silver ounce sold, net of by-product credits, declined 14% from the second quarter of 2013 to $18.23 per silver ounce. The Company also posted consolidated cash costs per payable silver ounce produced, net of by-product credits of $12.06, similar to the $12.09 recorded in the second quarter of 2013. Year-to-date, Pan American has produced 13.18 million ounces of silver and 83,600 ounces of gold at AISCSOS of $16.82 and Cash Costs per Ounce of $10.15.
SilverCrest Mines Inc. is pleased to announce its financial results for the second quarter ended June 30, 2014. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in U.S. dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2014, and associated management discussion and analysis which are available from the Company’s website atwww.silvercrestmines.com and under the Company’s profile on SEDAR at www.sedar.com.
Pan American Silver Corp.’s Board of Directors has approved the third quarterly cash dividend of 2014 in the amount of $0.125 per common share. Should the Company’s Board of Directors continue to approve future quarterly dividends in the same amount, the annual cash dividend paid by Pan American would be $0.50 per common share, which represents a yield of approximately 3.3% based on the Company’s closing share price on NASDAQ on August 13, 2014.
Jim Bannantine, the Company’s President and CEO, stated “Aura’s continued focus on operational efficiencies and effective cost reduction programs has resulted in a profitable quarter for the Company. The first half of 2014 was relatively in-line with our production expectations and we are on track to meet 2014’s guidance. Aura has been able to utilize the operating cash flow generated to manage its third party debt.
Plata Latina Minerals Corporation (“Plata Latina” or the “Company”) is pleased to announce that it has arranged for a non-brokered private placement of up to 12 million units (“Units”) at a price of C$0.10 per Unit for gross proceeds of up to C$1.2 million.
Santacruz Silver Mining Ltd. is pleased to announce the appointment of Mr. Robert Byrd to the position of Chief Operating Officer of the Company effective August 11, 2014. Mr. Byrd will report directly to the President and CEO of the Company, Mr. Arturo Préstamo.
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