Month: February 2014

Excalibur Resources Ltd. announces that it has arranged a non-brokered private placement of 2,500,000 Units at $0.12 per Unit for a total of $300,000. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share for a period of two years. Proceeds will be applied to working capital, corporate development and to the Company’s Catanava gold and silver production project in Mexico.

Braeval Mining Corporation has entered into a definitive business combination agreement with Oban Exploration Limited, a private company, pursuant to which Braeval will acquire all of the issued and outstanding common shares of Oban pursuant to a three-cornered amalgamation between Oban and a wholly owned subsidiary of Braeval. As a result of the transaction, the holders of Oban common shares will receive 0.914 of a common share of Braeval (on a post consolidation basis) for each Oban common share so held. Following completion of the transaction, the amalgamated company will hold all of Oban’s assets and will be a wholly owned subsidiary of Braeval.

Solitario Exploration & Royalty Corp. announces that it has received irrevocable commitments to purchase shares of Solitario common stock in a private placement conducted by Solitario. Solitario received the first such commitment on February 17, 2014. In total, Solitario received commitments to purchase 1,600,000 shares of common stock at US $1.05 per share for aggregate consideration of $1,680,000 in the Offering. Solitario retained a placement agent in connection with the portion of the Offering conducted in Canada and has agreed to pay such placement agent a fee of $50,000 for the sale effected to the single Canadian investor that participated in the Offering.

First Quantum Minerals Ltd. (FM) posted a fourth-quarter profit that beat analyst estimates as it raised copper output to a record and lowered production costs.

Avino Silver & Gold Mines Ltd. is pleased to announce entering into an agreement for a brokered public offering in the United States through Noble Financial Capital Markets of Boca Raton, Florida as placement agent to two institutional investors. A total of USD$5,000,000 in gross proceeds are anticipated to be raised through the sale of 2,066,115 units at a price of USD$2.42 per Unit. Each Unit will consist of one common share and one-half of a transferable share purchase warrant, subject to customary closing conditions. It is anticipated that the Offering will close on or around February 25, 2014.

Aurcana Corporation wishes to announce that Andrew Kaczmarek, interim Chief Operating Officer and Director of Aurcana has resigned effective immediately due to personal reasons. The Board of Directors would like to thank Mr. Kaczmarek for his services to the Company and wish him success in his future endeavors.

“2013 was a positive year for our Company, notwithstanding the lower silver price environment.” said John Smith, President and CEO. “We delivered strong results at our Pirquitas mine through our restructuring program, achieving significantly lower cash costs for the year. This was done in addition to completing the deepening of the San Miguel pit, which lowers the future mine strip ratio. These activities position us for higher production and lower costs in 2014. We also maintained our strong balance sheet through our convertible note raising, asset sales and disciplined cost management enabling us to acquire the Marigold mine in 2014, a transformational growth opportunity.”

Yamana Gold announced a quarterly dividend on Thursday, February 20th, AnalystRatings.Net reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.0375 per share on Monday, April 14th. This represents a $0.15 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, March 27th.