Month: January 2014

Morro Bay Resources Ltd., a capital pool company, is pleased to announce that further to its news release of January 17, 2014 it has completed its previously announced qualifying transaction whereby it has acquired from Sierra Madre Developments Inc. an option to earn up to a 65% interest in mining concessions in Mexico comprising the Penoles Project owned by Riverside Resources Inc. and a drill rig that has been used on the Penoles Project. A more detailed description of the Transaction is contained in Morro Bay’s Management Information Circular dated December 18, 2013 which has been filed on SEDAR. Morro Bay is also pleased to announce that in connection with the Transaction it completed a brokered private placement of common shares for gross proceeds of $633,000, as described further below.

Timmins Gold Corp, which owns the San Francisco gold mine in Mexico, said on Wednesday it will sell C$25 million ($22.7 million) in equity to a syndicate of banks, the latest in a slew of recent share offerings from Canadian miners.

VC Exploration Corporation announces having accepted the resignation of Patrick Fernet as Chairman and Officer of the Company effective immediately. Mr. Fernet served the Company as Director since May 2004, as V.P. of Legal Affairs since January 2005, and as Chairman of the Board since July 2007. Mr. Fernet will continue as a Director of the Company and as a consultant. Jim Culver, President and CEO of the Company thanked Patrick on behalf of the BOD, management and shareholders for his past work for the Company and said “We look forward to continuing to work with Patrick in his new role.” Mr. Fernet said that he had taken more responsibilities with his other business interests but will continue to be actively involved in VVC.

Endeavour Silver Corp. released today its improved cash and debt positions at year-end and the Company’s consolidated operating guidance for 2014 for its three underground, silver-gold mines in Mexico, the Guanaceví Mine in Durango State and the Bolañitos and El Cubo Mines in Guanajuato State.

Further to the Company’s news release of November 7, 2013, the Company advises that it has agreed to amended terms regarding its private placement with Global Resources Investments Ltd (“GRIL”). The Company will be seeking to raise $1,000,000 through the sale of 20,000,000 common shares at $0.05 per share.

Today at the World Economic Forum in Davos, Switzerland, Teck Resources Limited was recognized as one of the Global 100 Most Sustainable Corporations for 2014 by media and investment research company Corporate Knights. Teck was the only mining company named to this year’s Global 100 list. This is the second straight year Teck has been included on the list.