After growing production for nine straight years, Endeavour Silver Corp. says it is forecasting “relatively steady” silver output in 2014, focusing instead on positioning the company for a turnaround in metal prices later this year with a boost in free cash flow.
Riverside Resources Inc. is pleased to announce that new partner, Morro Bay Resources Ltd. has completed its qualifying transaction whereby it has acquired from Sierra Madre Developments Inc. an option to earn an initial 51% and up to 65% interest in Riverside’s Penoles Project. As a result of the Transaction, Riverside has received 3,705,974 Morro Bay common shares and 1,852,987 Morro Bay warrants. Morro Bay will also fund a minimum of $750,000 in exploration and drilling at the Penoles Project that will aim to build on last year’s results at the historic Jesus Maria silver mine area. Further information can be found in the Transaction Details section below.
Santacruz Silver Mining Ltd. announces that it has filed on SEDAR an independent NI 43-101 Technical Report titled “2013 Mineral Resource Estimate, Gavilanes Project, Durango, Mexico”, including the initial resource estimate for the Gavilanes silver project located in San Dimas, Durango, Mexico, as described in the Company’s news release dated December 17, 2013.
Minaurum Gold Inc. is pleased to announce that further to its news release dated December 20, 2013, it has completed its final tranche closing on $515,060 of its non-brokered private placement. A finder’s fee of $10,850 and 140,000 shares were paid in connection with the final tranche. The securities issued under the offering will be subject to a four month hold period expiring May 24, 2014 in accordance with applicable Canadian securities laws.
Candente Gold Corp. is pleased to announce, it has completed its previously announced non-brokered private placement closing on a second tranche of $476,025 for a total of $746,025. Candente Gold has issued 14,920,500 common shares at a price of $0.05 per common share related to both tranches of the financing.
BIG NORTH GRAPHITE CORP. announced today that the Company has engaged R. Tim Henneberry, P.Geo. (British Columbia) of Mammoth Geological Ltd. to complete an independent NI 43-101 compliant technical report on the El Tejon Flake Graphite project. A site visit has now been completed.
Source Exploration Corp. reports that David Baker, the Executive Chairman of the Company, has arranged a sale of 1,100,000 common shares of the Company at a price of $0.075 per Common Share to a third party through the facilities of the TSX Venture Exchange.
Morro Bay Resources Ltd., a capital pool company, is pleased to announce that further to its news release of January 17, 2014 it has completed its previously announced qualifying transaction whereby it has acquired from Sierra Madre Developments Inc. an option to earn up to a 65% interest in mining concessions in Mexico comprising the Penoles Project owned by Riverside Resources Inc. and a drill rig that has been used on the Penoles Project. A more detailed description of the Transaction is contained in Morro Bay’s Management Information Circular dated December 18, 2013 which has been filed on SEDAR. Morro Bay is also pleased to announce that in connection with the Transaction it completed a brokered private placement of common shares for gross proceeds of $633,000, as described further below.
Timmins Gold Corp, which owns the San Francisco gold mine in Mexico, said on Wednesday it will sell C$25 million ($22.7 million) in equity to a syndicate of banks, the latest in a slew of recent share offerings from Canadian miners.
VC Exploration Corporation announces having accepted the resignation of Patrick Fernet as Chairman and Officer of the Company effective immediately. Mr. Fernet served the Company as Director since May 2004, as V.P. of Legal Affairs since January 2005, and as Chairman of the Board since July 2007. Mr. Fernet will continue as a Director of the Company and as a consultant. Jim Culver, President and CEO of the Company thanked Patrick on behalf of the BOD, management and shareholders for his past work for the Company and said “We look forward to continuing to work with Patrick in his new role.” Mr. Fernet said that he had taken more responsibilities with his other business interests but will continue to be actively involved in VVC.
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