Exploration and development company Bacanora Lithium revealed Thursday it is preparing a 2019 stock exchange listing for the subsidiary that holds its 50%-owned Zinnwald lithium deposit in southern Saxony, Germany.
As stated previously, the receipt of formal permit notifications for the La Fortuna gold project represents a major milestone for the Company. We are appreciative of the support provided by Osisko Gold Royalties allowing for us to meet the permitting payment deadlines, stated Minera Alamos CEO Darren Koningen. We can now look forward to 2019 and the beginning of site preparation work leading to a construction decision later in the year.
The Company raised a total of $9.8 million CAD over three tranches in the third quarter of 2018. A significant portion of these funds have been used to enable two significant diamond drilling and geological exploration programs at the above Kena Gold Project and the Manto Negro copper project in northeastern Mexico. As noted, the Kena program is now complete and the Phase 1 Manto Negro drill program is ongoing and expected to be completed by the end of January/early February 2019. In addition to diamond drilling with up to three drill rigs, the Manto Negro program has also included road building and upgrades, the installation of a full service camp and related infrastructure and services for water, telecommunications, and accommodations. Assays results from the current program are pending.
“We continue to be in discussions with a number of industry and finance parties with regards to completing Sonora’s finance package at the asset level. Bearing in mind our offtake partner Hanwa, SGRF, the sovereign wealth fund of the Sultanate of Oman, and RK Mine Finance all carried out due diligence ahead of agreeing to provide funds for the construction phase at Sonora, we remain confident the outstanding funds will be secured in due course. We recently announced the appointment of Citigroup Global Markets Limited (“Citi”) to lead the equity financing of the Sonora project alongside Canaccord Genuity, both of whom shall also act as joint corporate brokers.
Coeur Mining, Inc. today announced that the Companys Board of Directors appointed Thomas S. Whelan as Senior Vice President and Chief Financial Officer effective January 1, 2019. Mr. Whelan will succeed Peter C. Mitchell, who has served as SVP and CFO since 2013. Coeur today also announced that the Board appointed Terry F.D. Smith as Senior Vice President of Operations. Mr. Smith was previously Vice President of North American Operations and recently replaced Frank L. Hanagarne, Jr. as principal operating officer of the Company. Mr. Smith will be responsible for overseeing all operational functions at each of the Companys five operating mines in North America.
Goldplay Exploration Ltd. is pleased to announce that the Company has closed the final tranche of its non-brokered private placement previously announced on November 19, 2018 and has issued 1,244,166 units for gross proceeds of $273,716.52. Total gross proceeds raised under all tranches of this offering was $1,499,960.
“We have advanced Ixtaca from our blind discovery in 2010 to its current position as an outstanding inventory of precious metals in a well-established mining jurisdiction with a very robust economic profile. Significant potential remains to increase resources through continued drilling of portions of the Ixtaca project that remain open as well as other targets on this largely unexplored property. In the meantime, we are looking forward to further developing this deposit through permitting and construction to demonstrate our commitment to modern, responsible mining and the potential for Ixtaca to be a strong economic engine for the company and the region in which it is located,” said Almaden chairperson JD Poliquin.
Ore production of 1,582t at grades of 9.0% Zinc, 1.4% Lead
Igor Gonzales commented “Sierra Metals is adopting the NCIB because it believes that its Common Shares have been trading in a price range which does not adequately reflect the underlying value of such Common Shares in relation to the Company’s business and future prospects. Accordingly, the reduction of its share capital that may result from the cancellation of any Common Shares acquired pursuant to the NCIB will increase the proportionate interest of all remaining shareholders of the Company.”
SSR Mining Inc. announces today that it has completed the transaction with SilverCrest Metals Inc. to purchase, by way of private placement, 8,220,645 common shares of SilverCrest at a price of C$3.73 per common share for total consideration of C$30,663,006. This transaction was previously announced in SSR Mining’s news release dated November 29, 2018.
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