Tamino Minerals, Inc. is pleased to announce to its shareholders and followers that it has a signed Funding Term Sheet with an Institutional Investor for $2,000,000 USD to fund its exploration activities and operations.
AuRico Gold Inc. today announces the pricing of its private offering of $315 million aggregate principal amount of Senior Secured Second Lien Notes due 2020. The Notes were issued with a coupon of 7.75% and sold at 96.524% of par, and are expected to result in net proceeds to the Company of approximately $297 million, after deducting the initial purchasers’ discounts and estimated offering expenses payable by the Company. The offering is expected to close on or about March 27, 2014. AuRico intends to use the net proceeds of the Notes to repurchase its Convertible Notes due 2016 that are tendered to AuRico’s offer announced March 6, 2014 to purchase any and all of its Convertible Notes, to fund principal and interest payments on any Convertible Notes that remain outstanding following the offer to purchase, to repay amounts outstanding under its existing senior secured credit facility and for general corporate purposes, which may include funding capital expenditures to support organic growth.
Forget crystal meth. The pseudo-religious Knights Templar drug cartel in western Mexico has diversified to the point that drug trafficking doesn’t even rank among its top sources of income.
Westminster Resources Ltd. advises that the 2014 exploration program on the Cumbral-San Bartolo Project, Sonora, Mexico has commenced. The first drill hole was collared onMarch 13, 2014 and core drilling is proceeding.
GREAT PANTHER SILVER LIMITED announces that the Company has resumed full operation of the mine and plant facilities at its Guanajuato Mine Complex in Mexico.
Vancouver, B.C. MAG Silver Corp. is pleased to announce assay results from its five hole, 3,500 metre Phase 1 drill program on the Salamandra Property in Durango, Mexico optioned from Canasil Resources Inc. Drilling began in November, 2013 and in February, 2014 an additional 500 metres of drilling was added; this release covers the entire 3,500 metre initial program.
Santacruz Silver Mining Ltd. is pleased to announce that Canaccord Genuity Corp. and Raymond James Ltd., the underwriters of the Company’s recently closed common share offering have provided notice of exercise of their over-allotment option to purchase an additional 1,312,500 common shares of the Company at a price of $1.00 per share for total gross proceeds of $1,312,500. The closing of the exercise of the over-allotment option is scheduled to take place on Thursday, March 20, 2014.
Fortuna Silver Mines Inc. today reported revenue of $137.4 million, cash generated from operations, before changes in working capital, of $40.9 million, a net loss of $19.1 million in 2013, and adjusted net income of $9.4 million. The net loss includes a one-time non-cash tax provision of $7.7 million related to the initial recognition of the Mexican mining tax reform, and a non-cash impairment charge of $20.4 million, net of tax, related to the impact of declining silver prices on the carrying value of the Caylloma mine in Peru.
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