Mag Silver Corp. shares rallied on Wednesday in line with other precious metals producers after the company announced that it has received the full explosives permit to construct the the ramp decline at its joint venture Juanicipio project in Mexico.
Gold Resource Corp shares rocketed nearly 11% on Wednesday after the company announced a high grade gold and silver intercept at a new vein on its Arista deposit, which forms part of the company’s El Aguila project in Mexico.
Bowmore Explorations Ltd. is pleased to announce that it has completed the financing through the London based investment group Global Resources Investment Trust Plc. pursuant to which Bowmore has acquire 518,246 ordinary shares of Global Resources Investment Trust Plc., valued at 1 British Pound per GRIT Share (or total value of $960,000 Canadian) in exchange for 6,000,000 common shares of Bowmore valued at $0.16 per Bowmore share. Global Resources Investment Trust Plc announced Friday March 7th, 2014 the admission of its ordinary shares to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities.
Golden Tag Resources Ltd. wishes to provide an overview of operations including cost reductions in 2013 and going forward into 2014. In an effort to conserve funds, the Company in 2013 significantly reduced direct operating expenses (unaudited) by an amount of $198,383 or 48% from $413,683 in 2012 to $215,300 for the same period in 2013. Also, Golden Tag announces that it has signed two executive service contracts, which provide for significantly reduced current compensation to the Company’s President/CFO and its CEO in light of market conditions. The President’s agreement provides that from January 1, 2013 the historical compensation of $145,000 year is reduced to a base fee of$65,000 unless and until the Company has a minimum of $100,000 in unallocated working capital. The $80,000 is not accrued during any period when the minimum working capital is not in-hand but would be accrued if the agreement is terminated without cause by the Company before its 5 year term expires. There is a 36 month change of control severance based on the historical level reflective of 23 years of service to the Company. The CEO has been reduced to a base Fee of $20,000 per year and a per diem during periods of exploration activity. The CEO is entitled to a lump sum of $200,000 if there is a change of control within the three year term of the agreement reflective of 8 years of service.
Gold Resource Corporation announces an Arista deposit exploration update at its El Aguila Project in Mexico.Drill results included 2.67 meters of 13.90 grams per tonne gold and 3,228 grams per tonne silver in one of the Arista deposit’s newest vein discoveries.Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.The Company has returned over $95 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
IRVING, TX, Mar 12, 2014 (Marketwired via COMTEX) — (otcqb:DYNR) — DynaResource, Inc., along with DynaResource de Mexico SA de C.V., the 100% owner of the San Jose de Gracia Project in Sinaloa State, Mexico announce plans to consolidate legal actions against Goldgroup Mining, Inc. and Goldgroup Resources, Inc.
Baja Mining Corp. is pleased to announce that its common shares have been approved for listing on the TSX Venture Exchange. The Shares will be delisted from the Toronto Stock Exchange at the close of business on Friday, March 14, 2014 and commence trading on the TSX Venture Exchange at the open of business on Monday, March 17, 2014 under the symbol BAJ.
MAG Silver Corp. announces that the contractor hired by Fresnillo plc to construct the ramp decline on behalf of the Minera Juanicipio S.A. de C.V. Joint Venture, has received its full explosives permit from the Mexican Ministry of Defense. Development of the Juanicipio ramp decline is now being advanced with conventional drill and blast cycles as well as with the continuous miner.
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.
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