Westminster Resources Ltd announces it has settled on terms to undertake a private placement with Global Resources Investments Ltd. Westminster is seeking to raise $1,000,000 through the sale of 20,000,000 common shares at $0.05 per share.
Canasil Resources Inc. announces that MAG Silver Corp. has defined drill targets and proposed an initial 3,000 meter diamond drill program at Canasils Salamandra silver-copper-zinc-lead project in Durango State, Mexico. The required drill permits are in hand and the drill program is planned to start after preparation of drill access roads and drill pads, within the next three to four weeks. MAG and Canasil entered into a binding Letter Agreement on May 27, 2013, providing for MAG to earn up to a 70% interest in the Salamandra project.
Further to Defiance Silver Corp.’s news release of September 25, 2013, the Company announces that it has re-negotiated its private placement with Global Resources Investments Ltd. The Company will be seeking to raise $357,000 through the sale of 5,100,000 common shares at $0.07 per share.
On Tuesday, November 5, 2013, via a public conference call, the management team of Odyssey Marine Exploration, Inc. reported to shareholders on a number of positive corporate developments, along with an increasingly positive outlook for remainder of the year and through 2014.
Great Panther Silver is showing marked improvements at its operations from the previous quarter, with its third quarter financials announced today providing no better proof of its efforts through lower cash costs, higher production, and better operating margins and cash flow.
The Canada based gold miner, Yamana Gold (AUY), has one of the lowest cash costs in the industry and strong growth profile which makes it one of the most attractive investments in the gold industry. The company is looking at a strong finish to 2013 as production at Gualcamayo increases significantly and a number of other mines are also expected to ramp up for the final quarter. Production at Gualcamayo, one of the largest gold mines in Argentina and in the world, is expected to increase significantly as the company commences operations in Phase III and begins operations at QDD Lower West. AUY has one of the lowest cash costs in the industry and while staying in the lowest cost quartile the company is expected to grow production by 15% in 2014. Moreover, with an expected drop in development spending in 2014, AUY’s FCF performance should also improve next year.
Timmins Gold Corp. is pleased to announce the results of the recently completed NI 43-101 Technical Report for the San Francisco Gold Mine in Sonora, Mexico prepared by Micon International Limited of Toronto. The report was prepared to update the previous technical report for the SF Mine dated November 1, 2011, and to provide a base case scenario for production at the SF Mine as a result of a material increase in the estimated Mineral Reserves from the 2012-2013 drill program (43% increase in Reserve gold ounces excluding depletion). For details of the updated Reserve and Resource estimates please refer to our new release dated November 5, 2013 disseminated earlier today. All amounts are presented in United States dollars and the economic evaluation is presented on a pre-tax basis.
Torex Gold Resources Inc. announced today its financial results for the three and nine months ended September 30, 2013.
Prospero Silver Corp. is pleased to announce that its JV partner Silver Standard Resources, Inc. has commenced a 4,000 meter diamond drill program with two rigs in the San Luis Cordero project located in central Durango. This initial program is aimed at multiple targets including the extension at depth of the Santa Rosa mineralized zone, the extension to the northwest of the Santa Rosa trend, the chargeability anomaly under the limestone plateau located in the western zone, new vein targets north of and parallel to the Santa Rosa vein, the extension to the east of the Santa Rosa skarn zone, new targets defined by an IP survey and geochemistry in the eastern La Puerta target zone, and an additional hole in the high zinc Canal target zone.
Garibaldi Resources Corp. is pleased to report that drilling has resumed at the Locust target, part of the Company’s large Tonichi Project in Sonora State, Mexico, to immediately follow up on the discovery of an important mineralized intercept in drill hole MAR-13-02 that may be indicative of a Au-Cu porphyry system. Drilling to date at Locust (2745 meters in 16 widely-spaced holes) has outlined a broad envelope of near-surface mineralization that measures at least 5 km along trend and 1-2 km across.
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