Month: August 2012

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2012. Net earnings for the quarter were $12.5 million and cash flow from operating activities was $28.7 million. Capstone ended the quarter with cash on hand of $489.3 million, and a $200 million credit facility. Copper production for the quarter at Capstone’s two operating mines, Cozamin and Minto, totalled 21.9 million pounds in concentrates at a total cash cost(1) of $1.36 per payable pound.

Mercator Minerals Ltd. today announced its financial results for the three months and six months ended June 30, 2012. During the second quarter 2012, the Company generated revenues of $61.3 million, gross profit of $9.0 million, cash flow from operations (before changes in non-cash working capital items) of $1.5 million, and net income of $22.1 million, or $0.09 per share. On an adjusted net earnings(i) basis, the Company reported a net loss of $3.5 million, or $0.01 per share. During this period, the Mineral Park Mine successfully ramped up to its throughput design capacity of 50,000 tons per day (“tpd”) while also achieving recoveries above design levels for the entire second quarter and subsequently.

Baja Mining Corp. announces the resignation of Mr. Lorie Waisberg as Chair of the Board and of Mr. Waisberg and Mr. Francois Marland from the Board of Directors of the Company.

Scorpio Mining Corporation reported operating and financial results for its second quarter ended June 30, 2012. The Company produced a total 606,786 silver equivalent ounces in Q2 2012 compared to production of 709,393 during Q2 2011. Net earnings for Q2 2012 were $0.6 million or $0.00 per share compared to net earnings of $3.3 million or $0.02 per share for Q2 2011. The decline in earnings in Q2 2012 compared to Q2 2011 was due to lower production of contained metals as a result of lower head grades in silver and copper, decreases in the recorded metal prices for all metals and an increase in lead and zinc concentrate inventories at the end of Q2 2012.

Gold Resource Corporation today announced results for its second quarter ending June 30, 2012.

AuRico Gold Inc. reports financial results for the three and six months ended June 30, 2012. All amounts are in U.S. dollars. The Company will host a conference call on Monday, August 13, 2012 beginning at 10:00 a.m. Eastern Time.

Catalyst Copper Corp. advises there will be a delay in releasing the results of and filing the Preliminary Economic Assessment on the La Verde copper porphyry deposit located in Michoacán State, Mexico.

Excellon Resources Inc. today announced the resignation of Mr. Steve Poad, Chief Financial Officer effective immediately. The Board would like to thank Mr. Poad for his contributions to the Company and wish him the best in his future endeavours.