Mining companies have threatened to cut investment in Mexico after the government proposed a 7.5 percent mining royalty, arguing that lower metal prices, rising running costs and higher taxes reduce the country’s investment allure.
Santa Fe Metals Corp. is pleased to announce the following corporate and project updates.
Golden Minerals Company, a precious metals mining company with primary assets in Mexico and Argentina, reports continued progress with its work at the Velardena Operations in Durango State, Mexico. The Company previously announced it suspended operations at the Velardena mine on June 19, 2013 due to depressed silver and gold prices, and that the suspension was enacted to best conserve the asset until operating plans and metals prices indicate sustainable and profitable operations.
NWM Mining Corporation would like to announce the resignation of Jim Boyle as a director of the company. The Company would like to thank Mr. Boyle for his commitment and past contributions.
Orex Exploration Inc. is pleased to announce that Willie McLucas has been appointed as President and CEO of the Company, effective immediately, by Orex’s Board of Directors. He succeeds Mark Billings, who will remain as a director and as Chairman of the Board of the Company.
Mammoth Resources Corp. would like to confirm that further to its August 15, 2013 press release, the Company has raised a total of $270,620 of its private placement that was originally announced on June 13th. Whereas the August 15th release had indicated the Company’s intent to raise up to $500,000, the Company intends to raise up to an additional approximately $330,000 for total gross proceeds of up to $600,000. All other terms of the private placement remain the same as previously announced.
Gold Resource Corporation announced today that Chief Executive Officer William (Bill) Reid intends to retire from the Company. Mr. Reid will step down as CEO effective September 30, 2013. He will continue to serve as Chairman on the Companys Board of Directors to assist the Company with an orderly leadership transition. Jason Reid, the Companys President, was unanimously selected by the Board of Directors to succeed Bill Reid as the Companys CEO effective October 1, and will continue to serve as its President and a director.
Oremex Silver Inc. announces Q2 and six month financial results for fiscal 2013. For the second quarter the Company recorded a loss of ($202,301) or ($0.00) cents per share compared to a loss of ($612,803) or ($0.00) per share in Q2 2012. For the six month period the Company recorded a loss of ($496,598) or ($0.00) per share compared to a loss of ($1,257,376) or ($0.01) per share for the six month period in 2012.
Pan American Silver Corp. has decided to close out its outstanding silver and gold hedges.
Timmins Gold Corp. announces that Keith Peck has resigned as a director of the Company. The Company would like to thank Mr. Peck for his contributions to the success of the Company.
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