Month: February 2013

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.