Baja Mining Corp. announces that the lenders to its 49% owned company, Minera y Metalurgica del Boleo S.A. de C.V. have agreed to two further extensions to the standstill agreement of August 7, 2012 until November 20, 2012.
Source Exploration Corp. is pleased to report that it has begun an important ground-based magnetic geophysical survey over the central part of its concessions at the Las Minas property, State of Veracruz, Mexico. The area targeted by the survey measures approximately 5.5 kilometres by 2.5 kilometres and includes the recently reported high-grade Santa Cruz discovery area. Drilling at Santa Cruz returned several high-grade intersections, including 15.89 g/t/t Au, 12.98 g/t Ag and 2.25% Cu over 10 m (see press release dated January 26, 2012) and 7.90 g/t Au, 14.9 g/t Ag and 1.68% Cu over 2.0 metres (see press release dated October 18, 2012).
SilverCrest Mines Inc. is pleased to announce that it has paid out the remaining balance of the gold hedge facility established with Macquarie Bank Limited in June, 2009 as a condition of finalizing the Project Loan Facility for the construction of the Company’s Santa Elena Mine. The Company is now a completely unhedged silver and gold producer. The original hedge facility was comprised of 55,000 ounces of gold sold forward at US$926.50 per ounce and deliveries into the hedge facility were scheduled to continue into 2014. During 2010 and 2011 the Company made scheduled deliveries of 26,000 ounces of gold into the hedge facility from gold production from the Santa Elena mine leaving a balance of 29,000 ounces of gold which the Company has settled in cash for US$ 23,254,800. This reflects an effective settlement price of US$ 1,728 per ounce of gold inclusive of all transaction costs. The payout of the hedge facility was financed with partial proceeds from the Company’s recent CAD$34.5 million bought deal, prospectus financing which closed on October 30, 2012.
Pan American Silver Corp. today announced that the Company’s Board of Directors has approved the fourth quarterly dividend of 2012.
Capstone Mining Corp. today announced its financial results for the three and nine months ended September 30, 2012. Net earnings for the quarter were $12.8 million and cash flow from operating activities was $25.8 million. Capstone ended the quarter with cash on hand of $509.4 million and a $200 million credit facility. Copper production for the quarter at Capstone’s two operating mines, Cozamin and Minto, totalled 22.6 million pounds in concentrates at a total cash cost(1) of $1.50 per payable pound.
Orex Minerals Inc. is pleased to announce the results of the first six holes of the 12,000 metres Phase-II diamond drilling program on the Coneto Gold-Silver Project in Durango, Mexico. A technical committee, with representation of Orex and its project partner Fresnillo PLC is managing this Phase-II program.
Avino Silver and Gold Mines Ltd. is pleased to announce the following October production results from its San Gonzalo mine operation located on the Avino property near Durango, Mexico.
United States Antimony Corporation reports a loss of $175,125 on revenues of $2,655,123 for the quarter ended September 30, 2012. John Lawrence, Chief Executive Officer commented, Due to the expenses and capital expenditures for mining, milling, and smelter equipment and new general and administrative expense incurred in the quarter, the Company is now entering a sustained period of production growth and revenue from its facilities in the United States and in Mexico.
Coeur d’Alene Mines Corporation (CDE) Q3 2012 Earnings Call November 6, 2012 2:00 PM ET
US-based silver producer Coeur dAlene Mines had posted lower profit during the third quarter owing to rising production costs, which were mainly the result of production issues at the companys Palmajero mine, in Mexico.
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
