Baja Mining Corp., which raised going concern doubts earlier this month, will cut 40 percent jobs at its headquarters in Vancouver as it does not expect additional funding for its copper-cobalt-zinc project in Mexico by mid-June.
IMPACT Silver Corp. reports financial and production results for the first quarter 2012, ended March 31. The first quarter results were lower compared to the same period in 2011 due to unfavorable foreign exchange fluctuations relative to the Canadian and U.S. dollars and the Mexican peso, and the decreasing silver grades at depth in the Chivo Mine, which is currently being addressed by accelerating plans to bring the high-grade Oscar Mine into production before year-end.
Aura Silver Resources Inc. announces that it intends to raise up to a maximum of $500,000 by way of a non-brokered private placement of units. Each unit will consist of one common share and one common share purchase warrant. Each Unit will be offered at a price of $0.05 per Unit. Each Unit will contain a whole warrant to be exercisable for a period of two years from the closing of the offering at $0.10 per common share. This offering of Units would give rise to the issuance of a maximum of 10,000,000 Units.
Hole LP1008 drilled at Rincon del Caido near previously disclosed hole LP986 and testing the same stratigraphy has encountered two mineralized zones separated by 100 metres within the same marble unit. The upper zone assayed 332 g/t (9.7 oz/T) Ag, 11.40% Pb, 9.74% Zn over 1.91 m. A narrow felsic dyke, another indication of a Source environment was found between the two intersections;
Tara Minerals Corp. is pleased to announce that its subsidiary, Adit Resources Corp., has entered into an agreement for the sale of American Copper Mining S.A. de C.V., the holder of Adit’s Picacho group of concessions, to Yamana Mexico Holdings B.V., a subsidiary of Yamana Gold Inc.
Cerro Resources NL is pleased to announce the findings of the independent definitive Feasibility Study (“FS”) for the 4.5Mtpa open pit, First Stage Heap Leach component of the Cerro del Gallo gold/silver project, located in Guanajuato State, Mexico.
Baja Mining Corp. provides the following update on liquidity and recent corporate developments.
Vista Gold Corp. today announced the appointment of John F. (“Jack”) Engele as Sr. Vice President – Chief Financial Officer of the Corporation. Ms. Terri Eggert, Interim Chief Financial Officer, will continue with the Corporation for a short period to ensure a smooth transition.
Scorpio Mining Corporation is pleased to report initial results from the recently completed drill program at its 100% owned El Cajón Project near Cosalá, Sinaloa, Mexico.
Bell Copper Corporation announces that a consolidation of its common shares will be proposed to its shareholders at the upcoming annual and special meeting of shareholders scheduled to be held on June 26, 2012.
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