Tag: Investor’s Corner

Octavio Alvídrez, Chief Executive Officer, said: “Record annual silver production and a very strong gold performance does not mask what was a challenging year for Fresnillo. Gold production surpassed the expectations we had at the beginning of the year and is in line with our upwardly revised guidance, driven by a strong performance at Saucito, the successful start of operations of the Pyrites Plant at Saucito and the higher ore grade at the Fresnillo mine.

Scoping Study confirms Oposura as economically and technically robust, high-margin project

Pete Dougherty, President & CEO stated: “We achieved record quarterly production of nearly 52,000 GEOs, which contributed to record annual production of over 165,000 GEOs. I commend the team on this accomplishment. We achieved 51% production growth quarter over quarter and are now at a run rate that indicates we can produce over 200,000 GEOs in 2019…”

“2018 was a pivotal year for Pan American with low cash costs, strong cash flow, continued improvements at Morococha and Huaron, and positive impact to the bottom line from our La Colorada and Dolores expansions,” said Michael Steinmann, President and Chief Executive Officer of Pan American. “In addition, we made an important skarn discovery at La Colorada and announced the transformational acquisition of Tahoe. The acquisition is expected to close at the end of February, and we are looking forward to updating our forecast for 2019 in the second quarter to include the Tahoe assets.”

As a result of the completion of the acquisition transaction by the Company (then named Golden Reign Resources Ltd.) of Marlin Gold Mining Ltd., the Company now holds a 100% interest in the La Trinidad heap leach gold operation in Sinaloa State, Mexico. The La Trinidad Mine declared commercial production in November 2014 and has operated continuously with the exception of pit dewatering following hurricanes Linda in September 2015 and Willa in October 2018.

Frederick Davidson, CEO and President of IMPACT comments “Following a series of successful 2018 exploration programs at San Ramon, Guadalupe, and Santa Teresa Gold, the market has clearly indicated interest in the combination of cashflow from production and exploration potential that IMPACT offers. First thing, we aim to explore the targets at Santa Teresa which we recently sampled 6.5g/t gold over a true width of 1.66 meters along a strike length of 50 meters, and nearby Carlos Pecheco had drilling results of up to 19.6g/t gold over 2.9 meter true width in 2008. Concurrent to exploration are optimization at the Guadalupe operation to ensure operation cashflow remains buoyant at current silver prices.”

“We had another year of consistent production at the Avino property, producing 2,863,753 silver equivalent ounces, which was in line with our internal projections.” said David Wolfin, President and CEO. “The completion of Mill Circuit 4 contributed to an increase of 6% in silver equivalent ounce production over 2017, and also helped offset decreasing grades at the San Gonzalo Mine which is nearing the end of its mine life. The underground development at San Luis was temporarily reduced to save costs in the third and fourth quarters of 2018, therefore we are positioned to increase the throughput and the rate of development of the San Luis area during the latter part of 2019. We expect 2019 production to be similar to 2018. We continue to be mindful of costs Company-wide and are taking a pragmatic approach to expanding our operations. Finally, I wish to thank the operations team in Mexico for all their hard work and dedication.”

PRIZE MINING CORPORATION wishes to provide an update on the status of the Alberta Securities Commission Notice of Application dated December 21, 2018 seeking an interim order pursuant to section 33 and 198 of the Securities Act(Alberta), which names the Company as a respondent. Counsel for Prize applied for a further adjournment in order to obtain sufficient time to prepare its response to properly address the matters noted in the Notice of Application. The Alberta Securities Commission issued a variation order (the “Order”) dated January 14, 2019 to adjourn the hearing to February 1, 2019. The Order also requires that all trading in securities of Prize cease and that Prize must cease trading in all securities and that all exemptions contained in Alberta securities laws do not apply to Prize pending the determination of the hearing.

“We have taken the step of realigning our Mexican operations to reduce unit costs and maximize mine operating cash-flow, with a modest reduction in our production ounces”, stated James Bannantine, President and CEO. “The continuous improvement of our Mexican operations is important to our primary growth initiatives that include completing the acquisition of Beadell Resources Limited, which is expected to close shortly after respective shareholder votes during the week of February 11th, and the completion of the latest phase of our Coricancha project to enable advancement toward a production decision by the end of March.”