Semarnat hará foro informativo en Tetela sobre proyecto minero
February 25, 2013
Posterior al encuentro, se daría una audiencia pública en la que se trataría el tema de la barrenación que pretende hacer la empresa Frisco.
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Posterior al encuentro, se daría una audiencia pública en la que se trataría el tema de la barrenación que pretende hacer la empresa Frisco.
* Expects zinc demand to be steady in ’13
* Smelters seen obtaining higher treatment charges this year
Mammoth Resources Corp. is pleased to announce that it has received results from the X-Ray Diffraction (XRD) analysis performed on 72 samples collected on a portion of its 8,100 hectare Tenoriba project, located in southwestern Chihuahua State, Mexico. The XRD analysis identified the presence of numerous alteration minerals, which when combined with the presence of vuggy silica, silicic, advanced to intermediate argillic alteration, in rocks covering an approximate 15 square kilometer area, provide further compelling evidence that the Tenoriba project hosts a high-sulphidation precious metal target. The association of Kaolinite and Dickite in particular identifies almost complete acid attack of an advanced argillic alteration system, which is a compelling observation indicating a strong and active epithermal system. Refer to Figure 1. – Sample Location Map of XRD Samples, Tenoriba Project.
Riverside Resources Inc. is pleased to provide exploration results and program updates for recent work completed at the Company’s Naranjo and Huacana projects in Mexico. Both projects are being advanced under the iron-oxide copper gold (IOCG) Strategic Alliance with partner Cliffs Natural Resources Exploration Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. Riverside is currently managing a fully funded USD$450,000 work program now underway at the Huacana Project. The exploration work program consists of geologic mapping and rock-chip sampling, soil and stream-sediment sampling, re-examination of previous drill core, analytical studies, and an aeromagnetic-radiometric survey. Soil and stream-sediment sampling data have been received and are being interpreted; initial results are confirming and expanding the previously known positive results for a porphyry copper system.
* Esperanza will acquire a portfolio of advanced stage gold projects including the La Bolsa project in Mexico, the Pico Machay project in Peru, the Calcatreu project in Argentina and related exploration properties from Pan American for consideration of 50,900,000 common shares and 10,000,000 warrants of Esperanza;
* Pan American will subscribe for 20,600,000 Common Shares of Esperanza at a price of $1.70 per Common Share representing a premium of 29% to the 20-day volume weighted average share price on the TSX Venture Exchange and a 48% premium to the closing price on February 22, 2013; and
* Esperanza and Pan American have committed to enter into a $15,000,000 standby convertible credit facility.
Hecla Mining Company is pleased to announce its Board of Directors has elected to declare a quarterly dividend of $0.0125 per share of common stock, payable on or about March 25, 2013, to stockholders of record on March 18, 2013. The payment includes a regular quarterly common stock dividend of $0.0025 per share and a special dividend of $0.01 per share.
Argonaut Gold Inc. is pleased to announce Company 2013 production guidance, project initiatives and exploration objectives across the Company’s properties throughout the Americas. Production in 2013 is planned to increase to between 120,000 and 140,000 ounces of gold up from 108,000 ounces of gold in 2012. Cash cost of production is also expected to increase slightly to between $630 and $660 per ounce.
Endeavour Silver Corp. announces that for the ninth consecutive year, the Company has delivered substantial growth of its consolidated silver and gold reserves and resources.
Lake Shore Gold Corp. announced today that, based on progress with the Company’s annual impairment assessment as required under International Financial Reporting Standards, it expects to reduce the carrying value of its Timmins and Mexican assets as part of its fourth quarter and year-end 2012 results. The extent of the non-cash accounting charge is not known at this time and will be based on the estimated recoverable value of the assets in the current market environment, which is valuing mining and exploration assets at lower multiples than in recent years.
Torex Gold Resources Inc. announced today that it has signed an engagement letter with a club of five financial institutions in connection with a planned project finance facility for the development of the Company’s 100% owned Morelos Gold Project. The Banks consist of BMO Capital Markets, BNP Paribas, Commonwealth Bank of Australia, ING Capital LLC and Société Générale. The Engagement Letter establishes the terms under which the Banks have been appointed to deliver on a club basis a project finance facility of US$250 million and is subject to due diligence, the completion of definitive loan documentation, credit and certain other approvals and the terms and conditions all as set out in the indicative term sheet (the “Term Sheet”) attached to the Engagement Letter. The execution of a commitment letter and definitive documentation is expected in the third quarter of 2013. The Term Sheet includes standard and customary project finance terms and conditions with respect to fees, interest rate margins and conditions precedent to closing. There is no requirement for mandatory gold hedging.
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