Tag: Investor’s Corner

“We had a very strong quarter with total production achieving a new record of 6.7 million silver equivalent ounces representing a 31% increase compared to the prior quarter,” said Keith Neumeyer, President and CEO. “The record quarter was primarily due to the Company receiving a full quarter of production from the San Dimas operation, along with increases in consolidated silver and gold grades of 19% and 35%, respectively. In fact, five of our six mines recorded higher production levels as a result of these significant grade improvements. However, due to the prolonged weakness in the silver price we have implemented a 20% cost reduction program across all areas of the business which is expected to be fully realized by the first quarter of 2019.”

Endeavour Silver Corp. announces, effective today, the appointment of Nicholas (Nick) Shakesby as the new Vice President, Operations to oversee the Company’s underground mining operations in Mexico. Mr. Shakesby will report to Endeavour President and Chief Operating Officer, Godfrey Walton.

“During the third quarter of 2018, our production results were slightly lower than anticipated; however, we are very pleased that we have begun small-scale processing of newly-mined material from the San Luis area of the Avino Mine through Mill Circuit 2. We feel this highlights that our expansion was well timed and running smoothly.” said David Wolfin, President and CEO. “As we enter into the fourth quarter, we are on pace to achieve our internally projected production levels for the full year, and we remain focused on ensuring that we are ready to run San Luis material through Mill Circuit 4 in the first quarter of 2019. Additionally, the Company has undertaken a number of cost reduction initiatives during this time of low precious metal prices, which are outlined further in this news release.”

Torex Gold Resources Inc. announces the appointment of Ms. Jody Kuzenko to the role of Chief Operating Officer, effective October 29th, 2018. There will be a transition period with Jason Simpson, until November 9th, 2018, when Jason leaves the Company for a CEO role within the industry.

Orla Mining Ltd. is pleased to announce that Jason Simpson will succeed Marc Prefontaine as the Company’s President and Chief Executive Officer effective November 12, 2018. In addition to the role of President and CEO, Mr. Simpson will also serve as a director of the Company. Marc Prefontaine, current President and CEO of Orla, will resign as a director but will remain with the Company for the remainder of the year to ensure a seamless transition.

“We remain on track to meet our production guidance for 2018 with good year-to-date production performance, despite a decline in silver and gold production for Q3 compared to Q3 of last year”, stated James Bannantine, President & CEO.

McEwen Mining Inc. reports consolidated production for Q3 2018 of 33,806 gold ounces and 745,172 silver ounces, or 43,742 gold equivalent ounces, using a 75:1 gold to silver ratio. Consolidated production for the nine months ended Sept. 30, 2018 was 135,344 GEOs, which is 48% higher than the comparable period in 2017.

Together with the proceeds from Sable’s previously completed early warrant exercise incentive program, the Company has raised an aggregate of $4,595,975. The net proceeds received by the Company from the Offering and the Program will be used for exploration at the Company’s properties in Mexico and Argentina and for working capital and general corporate purposes.

“The Company has done a good job at managing its proven and probable mineral reserves and measured and indicated resources despite modest exploration budgets,” said Darren Blasutti, President and CEO. “With reserves and measured and indicated resources of approximately 100 million ounces of silver, 1.1 billion pounds of zinc, and over 800 million pounds of lead across our royalty- and stream-free properties, we provide very attractive production optionality and per share resource leverage to higher commodity prices.”

Endeavour CEO and Director Bradford Cooke commented, “During the third quarter, El Cubo production continued to outperform, but Guanaceví and Bolañitos fell short of plan resulting in steady quarterly production. Looking ahead to Q4, 2018, management anticipates higher silver and gold production due mainly to higher anticipated throughput and grades at Guanaceví and initial production from El Compas.”