Great Panther Silver, a precious metals miner that is dealing with an illegal occupation at its Guanajuato mine in Mexico, has announced its year-end and fourth quarter results, which showed operational improvements such as record metal production despite the hit from weak gold and silver prices.
Silver equivalent production jumped 49% in the fourth quarter, to 3.0 million ounces, as pure silver output increased 56% and gold production rose 37%. The company said plant throughputs, ore grades and metal recoveries were higher at all of its three mines, which include the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state in Mexico.
Monetization From Record-Setting Silver Recovery Drives Record Quarterly Revenue of $17.2 Million and Record Quarterly Net Profit of $10.8 Million or $0.13 Per Share.
Fresh from the Letter Writer Presentations track at the Prospectors and Developers Association of Canada (PDAC) conference, The Gold Report asked thought leaders to share their impressions from the annual minefest. Adrian Day Asset Management Founder Adrian Day,Exploration Insights Publisher Brent Cook, House Mountain Partners Founder Chris Berry and The Daily Gold Premium Publisher Jordan Roy-Byrne used terms such as “realistic” and “muted.” Eric Coffin, editor of Hard Rock Analyst, posited that the lack of excitement might actually benefit the few companies that rose on good conference-timed news because it removed the chance of a “PDAC curse” dropping stock prices after the event. Let’s see if all the voices agree.
“Northair is extremely pleased to have a geologist with the experience and abilities of Mr. Birak join its Advisory Board” said Fred Hewett, President & CEO of Northair. “Don will be an excellent source of advice as the Company advances its La Cigarra silver project. We welcome Mr. Birak and look forward to his valued input as the newest member of our team.”
San Marco Resources Inc. announces that it proposes to carry out a non-brokered private placement of 8,000,000 units at $0.05 per unit for gross proceeds of up to $400,000.
Santacruz Silver Mining Ltd. is pleased to announce the closing of its prospectus offering announced on February 12, 2014 through a syndicate of underwriters led by Canaccord Genuity Corp. and including Raymond James Ltd. The Company issued 10,750,000 common shares at a price of $1.00 per Common Share for gross proceeds of $10,750,000. The Underwriters received a cash fee equal to 6% of the gross proceeds of the Offering, as well as 645,000 warrants, each of which is exercisable to purchase one Common Share for a price of $1.00 for a period of 24 months. Canaccord was also issued an additional 100,000 Common Shares as a corporate finance fee.
Goldgroup Mining Inc. advises that the lawsuit filed against it and others in Dallas County District Court by DynaResource, Inc. and DynaResource de Mexico, S.A. de C.V. has been retracted by the plaintiffs effective March 7, 2014 with all parties bearing their own costs and attorneys’ fees incurred.
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