Tag: Investor’s Corner

Alio Gold Inc, today reports changes aimed at aligning capability to focus on its operating mines and reduce overhead costs. Recently, the Company announced the temporary suspension of exploration and development work at its Ana Paula project and a commitment to focus its efforts and capital allocation on its two operating mines, San Francisco and Florida Canyon. The Company is aligning its capability to support these efforts. As a result, Paul Hosford, Vice President of Project Development, and the Project Manager, Terry Murphy, will be leaving the Company on August 31, 2018. The Company has also taken steps to reduce costs at the Ana Paula project site in Mexico while maintaining a level of local employment and community engagement.

“Listing on the NYSE American is an important milestone for SilverCrest at a time when our Company is having exploration success developing the Las Chispas Project in Sonora, Mexico. We are confident the listing will create even greater exposure among institutional and retail investors,” said N. Eric Fier, CEO of SilverCrest.

Pursuant to the closing of the Second Tranche and the previously completed First Tranche, the Corporation has issued an aggregate of 47,450,367 Units for a total of $7,117,555.

“We are happy with the steady improvement in production over the past year” reported Salvador Garcia, Chief Operating Officer of the company. “The focus continues to be moving inferred resources to the proven and probable category and improving operational culture at our principal asset, the San Martin mine”.

Ridgestone Mining Inc. is pleased to announce that it has established a 100% owned Mexican subsidiary, Cerro de Oro Minerales S.A. de C.V., to facilitate its mineral exploration and development activities in Mexico.

Telson Mining Corporation management is aware of the recent decline in its share price and knows of no operational reason for this decline. Management would like to reassure investors and shareholders that day to day operations at both the Campo Morado Mine and the Tahuehueto Project continue as normal.

Leagold CEO Neil Woodyer commented: “We are pleased to have completed the acquisition of Brio Gold, and we are now focused on using our experienced operations team to identify and implement short- and long-term optimizations at each of the mines. We are also reorienting each of the mines in Brazil into individual profit centres. Some of these changes will take time to deliver results.”

As a result of the sale of Santa Gertrudis in November 2017 the company’s working capital has improved by $50.9 million to $40.6 million during fiscal 2018. Shareholders equity has also improved by $39.4 million to $127.2 million during the year. The Company remains in strong financial condition with $11.9 million in cash, a royalty on Santa Gertrudis that management believes could be sold for $12-15 million, inventory stacked on the heap leach pad with recoverable metal worth approximately $40 million, and no debt. In addition to the strong balance sheet, Parral is generating earnings before interest, taxes, and depreciation and has a mine life of approximately 10 years.

George Paspalas, President and CEO, commented, “We are pleased to see the continued progress being made developing the Juanicipio project, whilst we now embark on the formal approval process. Underground development is well advanced, and the construction of some of the surface infrastructure is starting to take shape. It is heartening to see our partner is now in discussions with suppliers to order long lead time equipment. I would like to remind people, that as we head to full-on construction of the project, we still are very motivated to continue to explore the property, as our current exploration success is the result of working in a very small area of the property. There remain many untested prospective targets for the joint venture to drill, and with 4 rigs turning on surface, we eagerly await the assay results.”

Igor Gonzales, President and CEO of Sierra Metals stated: “I am very pleased with our strong Q2 2018 results which builds upon our solid first quarter results. The Company is realizing positive returns on our capital investments and our operational improvement efforts. This can be noted through improving operating performance and strengthening of our asset base in addition to improved cash flow and increases to mineral reserves and resources at each of our mines.”