While most major miners are in the midst of significant spending cutbacks, Agnico-Eagle Mines Ltd. has been busy putting its cash to work.
SilverCrest Mines Inc. is pleased to announce that the Company, through its wholly-owned subsidiary, SilverCrest de Mexico S.A. de C.V., has completed the exercise of the Companys option to acquire a 100% interest in the nine La Joya West concessions which comprise approximately 529 hectares located 75 kilometres southeast of the city of Durango, Mexico. The Company exercised the option by making a final payment of US$2.5 million to the concession owners, one-half was paid in cash and one-half was paid by issuing a total of 615,776 common shares of the Company at an issue price of Cdn$2.06 per share (totaling $1,268,499 or US$1.25 million). The concession owners retain a 2% net smelter return royalty from mineral production on the property covered by the concessions. The nine La Joya West concessions, together with the three La Joya East concessions (which the Company has an option to acquire a 100% interest), and five other concessions staked by the Company, comprise the Companys La Joya Project which is approximately 10,660 total hectares.
Arco Resources Corp. announces that it has entered into a purchase and sale agreement dated May 24, 2013 with Highlander Overseas Inc., a private company incorporated in the West Indies. Under the Agreement, Arco has agreed to sell Highlander a 100% interest in Arco’s Tres Hermanas, La Luna and Predilecta properties (the “Properties”) located in Oaxaca, Mexico, subject to TSX Venture Exchange approval.
Excalibur Resources Ltd. through its 49% owned subsidiary continues underground development and mining in four adits, which have now advanced a total of 360 meters at the Catanava property in Pinos, Zacatecas State, Mexico. Although, the lab on site does testing on a daily basis, samples are periodically sent to commercial labs as part of an independent program as well as for 43-101 purposes. The San Gil adit has advanced 83 meters underground and is located on the east side of the arroyo so is not part of the Cinco Estrellas vein system.
Mercator Minerals Ltd confirms that it has scheduled its next Annual General Meeting of shareholders to be held at 10:00am (Pacific) June 24, 2013 at the Rosewood Hotel Georgia at 801 Georgia Street, Vancouver, BC, Canada. The Company anticipates mailing to shareholders and filing on SEDAR the Notice of Meeting, Information Circular and Form of Proxy and Voting Instruction Form next week. Such materials will state the Company’s intention to do the following at the AGM: (i) propose that the number of directors be set at eight; (ii) nominate the eight existing directors for re-election; (iii) propose the re-appointment of KPMG LLP as auditor of the Company; and (iv) propose the ratification of the Company’s Advance Notice Policy.
El presidente de la Cámara Mexicana de la Industria de la Construcción (CMIC) en Zacatecas, Salvador González García dijo que es insuficiente la obra pública, por lo que se gestiona que los proyectos federales sean asignados preferentemente a empresas locales, además de incentivar una mayor incursión en el sector privado, principalmente en la minería.
Toda una tradición en la industria minera de México lo es Avino, considerada como la primera mina que operó en la antigua zona de Nueva Vizcaya, hoy el Durango moderno.
Despite a looming royalty tax and security issues, CEO Greg Smith at Esperanza Resources says Mexico is “still a great place to be.”
El funcionario federal dio a conocer, por otra parte, que será hasta dentro de unas semanas cuando la Camimex, desgloce los proyectos de inversión que tiene para 2013, aunque se adelantó que serán por 8 mil millones de dólares en todo el País, pues ya hay proyectos en Sonora, Zacatecas, Durango y en las dos Baja Californias.
Elgin Mining Inc. announces the detailed voting results for the election of its Board of Directors, which took place at the Company’s Annual and Special Meeting of Shareholders held on May 22, 2013. The nominees listed in the management information circular dated April 18, 2013 were elected as directors of Elgin at the meeting. Detailed results of the vote are set out below:
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