Month: March 2013

Coeur d’Alene Mines Corporation today announced that Joe Phillips has been appointed to Senior Vice President and Chief Development Officer where he will oversee all of Coeur’s capital projects, including the new La Preciosa Project in Mexico, which is the major asset of Coeur’s pending acquisition of Orko Silver Corp., subject to Orko shareholder approval and other closing conditions. In addition, William N. (Bill) Holder has been appointed Vice President of Health and Safety and will be responsible for designing and implementing the Company’s global safety and health systems and programs and improving health and safety performance Company-wide.

Mercator Minerals Ltd today announced its financial results for the three months and year ended December 31, 2012. For 2012 the Company reported revenues of $262.6 million, an operating profit of $24.7 million before the El Creston asset impairment charge*, a net loss of $128.7 million (loss of $0.48 per share, basic) or an adjusted net loss* of $1.2 million ($nil per share). Included in the net loss is the $119.8 million (or $0.44 per share) non-cash accounting charge for the impairment of the El Creston project. Cash flow from operations, before non-cash working capital changes, was $20.6 million in 2012. For the fourth quarter of 2012, the Company reported revenues of $77.6 million, with operating profit of $10.6 million before the El Creston asset impairment charge*, net loss of $115.2 million ($0.43 per share, basic) or income of $4.4 million ($0.02 per share) on an adjusted net income* basis. The net loss recorded during the fourth quarter includes the previously mentioned write-down of the El Creston project. Cash flow from operations before non-cash working capital changes were $9.8 million in the fourth quarter of 2012.

Arianne Resources Inc. announces that it intends, subject to regulatory approval, to amend the terms of 4,000,000 common share purchase warrants issued as part of its private placement in April 2011. Each of the Warrants, which were part of the units being issued, entitled its holder to purchase one common share of Arianne at an exercise price of $1.50 per Common Share expiring on April 29, 2013. None of the Warrants were exercised since issuance.

Last week, Alamos chief executive John McCluskey warned that he would drop his bid for Aurizon if the British Columbia Securities Commission did not cease-trade the $27.2-million break fee that Alamos would have to pay Hecla.

Timmins Gold Corp. says its annual profit grew to US$36 million in 2012, including US$12 million in the fourth quarter.

Timmins Gold Corp. is pleased to report its financial results for the year ended December 31, 2012. The comparative period is the nine months ended December 31, 2011 due to the change in year-end during December 2011. All results are presented in United States dollars unless otherwise stated. Readers should refer to the 2012 management discussion and analysis and consolidated financial statements for complete information.

Fortuna Silver Mines Inc. today announces 2012 revenue of $161 million and net income of $31.5 million for the year. For the fourth quarter revenue totaled $37.9 million with net income of $8.5 million. Record silver and gold production for the year increased to a record 3,987,757 ounces and 20,699 ounces, respectively, at a consolidated cash cost per ounce, net of by-product credits, of $5.96.

Cardero Resource Corp. announces that Michael Hunter has resigned as the Chief Executive Officer and President, and as a director, of the Company, effective March 19, 2013. The Company would like to thank Michael for his service and significant contribution to the Company. The Board of Directors has appointed Hendrik van Alphen as the new Chief Executive Officer and President of the Company.