The Company intends to use the proceeds of the Private Placement to explore the Zacualpan land package for additional high potential precious metals as well as gold-copper targets, to improve efficiencies at the Guadalupe production mill, and for general working capital purposes.
“During the third quarter we saw the beginning of the turnaround in our mining operations, as our quarter over quarter revenues from mining operations and improved production costs demonstrate.” stated Arturo Préstamo, Chief Executive Officer of Santacruz. “Although the positive changes to our production volumes and operating costs were modest, as a result of our significant mine development this year and continued focus on such at both Veta Grande and Rosario, we firmly believe that we are now positioned to see improved production volumes and increased grade of mineralized material being milled at both projects leading to lower unit costs of production.”
Firma Holdings Corp. announces that its subsidiary GracePoint Mining Corp. and MX Gold Corp., signed a confidential mutual release. As a result, MX Gold Corp no longer has any rights, ownership interests, liabilities, or obligations associated with the Magistral Project.
Paul Benson, President and CEO of SSR Mining said, “SilverCrest’s Las Chispas project is a compelling investment proposition for SSR Mining by providing exposure to an exciting high-grade development project with exploration upside in a favourable mining jurisdiction. We look forward to building a relationship with SilverCrest, who have demonstrated a successful track record of discovering economic deposits that develop into operating mines while establishing strong local support of stakeholders including the government, ejidos and communities.”
N. Eric Fier, CPG, P.Eng, and CEO, remarked, We are pleased to welcome SSR as a new investor in SilverCrest. With this investment, SilverCrest will have more than C$40 million available to explore and advance the Las Chispas project. The investment by SSR is an important endorsement of the Las Chispas project from a mining company that has an established reputation and track record of financial discipline and operating performance which can help to further de-risk and optimize the Las Chispas project. We look forward to having a positive working relationship with SSR as we move Las Chispas forward.
Aura Silver Resources announces that, at the Special Meeting of shareholders of the Company held on November 15, 2018, Aura’s shareholders approved the previously announced name change and consolidation of the issued and outstanding common shares of the Company on the basis of one post-consolidation common share for every five pre-consolidation common shares. The Company’s new name will be “Aura Resources Inc.”. Significant shareholder support for both the name change and Consolidation was received with approximately 99.4% and 95.5%, respectively, of the shares voted at the Special Meeting in favor of these resolutions.
Vancouver, British Columbia, November 29th, 2018. Candente Gold Corp. is pleased to announce that the Company has signed the Definitive Agreement with Sun River Gold Corp. which follows the binding Letter of Intent previously entered into on November 9, 2017. SRG has the option to further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico.
Telson Mining Corporation is pleased to announce that it has reached an agreement to amend the terms of its Loan Agreement dated June 13, 2018 with Nyrstar Canada (Holdings) Ltd. The amended terms of the Loan Agreement will help Telson to better manage its cash flows at Campo Morado in a subdued zinc price environment.
On September 28, 2018, the Company entered into a definitive agreement to complete a business combination with Pershing Gold. The combination will add a shovel-ready, gold-silver development project in Nevada that adds significant precious metal growth to the Companys production profile. Once completed, Relief Canyon is expected to produce 75,000 to 90,000 ounces of gold annually at low cash costs over an initial seven-year life and generate annual post-tax cash flow from $25 to $30 million. This transformative combination is expected to increase the Companys precious metal production by over 5 times with precious metals representing greater than 60% of silver equivalent production.
The net proceeds of the financing will be used to pay for the drill program at the Pino de Plata project and general working capital
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