Month: August 2014

Scorpio Mining Corporation reports its’ financial and operating results for the second quarter ended June 30, 2014. This press release should be read in conjunction with the Company’s unaudited Financial Statements and Management’s Discussion and Analysis for the second quarter ended June 30, 2014, available on the Company’s website at www.scorpiomining.com and on SEDAR at www.sedar.com. All monetary figures are expressed in Canadian dollars unless otherwise specified.

Newstrike Capital president and CEO Richard Whittall is certain the upcoming preliminary economic assessment (PEA) on the company’s 2.25-million oz. Ana Paula gold project will prove it’s a “great cash-generating project.â€?

Chesapeake Gold Corp. is pleased to announce that it has entered into an agreement whereby Chesapeake has assigned its interest in the 1.5% net smelter returns royalty on its Mexican Metates gold-silver property to Wheaton Precious Metals (Cayman) Co., a subsidiary of Silver Wheaton Corp., in consideration for US$9.0 million. The Royalty had previously been acquired by Chesapeake for US$9.0 million from SANLUIS Corporation, a private Mexican company.

Caza Gold Corp. is pleased to announce that it has entered into a loan agreement with Polygon Mining Opportunity Master Fund providing for the terms and conditions pursuant to which Polygon will loan the principal amount of US$600,000 to the Company as evidenced by a promissory note. The Loan is for a term of 18 months and is payable on demand after one year. The Loan bears interest at the rate of 12% per annum payable quarterly beginning on September 30, 2014. Polygon will also receive common shares of the Company (the “Bonus Shares”) as partial compensation for entering into the Loan Agreement. The number of Bonus Shares will be equal to 18% of the principal amount of the Loan divided by the market price of the common shares on the date of the notice of the Company’s next shareholders’ meeting, subject to a minimum price of $0.08 per Bonus Share to the extent required by the TSX Venture Exchange, issuable following approval at such shareholders’ meeting. As security for the payment of the Company’s obligations and for the fulfilment and satisfaction of all covenants and agreements made under the Loan Agreement, the Company has, concurrently with the Loan Agreement, entered into a general security agreement with Polygon pursuant to which the Company granted Polygon a security interest in all personal property of the Company, including the property option agreement dated January 31, 2011 between the Company, Inversiones Ecologicas S.A. and the shareholders of Inecosa, under which the Company holds rights to acquire certain mining properties located in Nicaragua, including the Los Andes project.

Gold Resource Corporation reported production results for the second quarter ended June 30, 2014 of 24,172 ounces precious metal gold equivalent (calculated at actual sales price ratio of 67:1), which generated $33.7 million in revenues and net income of $7.8 million for the quarter, while decreasing its total cash cost per ounce AuEq by 32% over the second quarter of 2013.Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.The Company has returned over $98 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

Still on track to meet full-year production guidance of 135,000 to 140,000 gold equivalent ounces as production is expected to increase in Q4 2014 due to: 1) 50% more processing capacity at El Gallo 1 compared to the first half of 2014; and 2) higher grades at San José and El Gallo 1 compared to the first half of 2014.

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2014. Net earnings for the quarter were $16.6 million and operating cash flow before changes in working capital was a record $56.5 million. Copper production for the quarter at Capstone’s three operating mines, Pinto Valley, Cozamin and Minto, totalled 27,738 tonnes of copper in concentrates and cathode (26,785 tonnes of payable copper) at a cash cost of $2.03 per payable pound of copper produced.

Mercator Minerals Ltd today announced its financial and operating results for the three months and six months ended June 30, 2014. During the second quarter 2014, the Company generated revenues of $69.8 million, cash flow from operations of $8.4 million, a net loss of $3.0 million (loss of $0.01 per share, basic) or an adjusted net income* of $5.2 million (adjusted earnings of $0.02 per share).

AuRico Gold Inc. reports financial results for the three and six months ended June 30, 2014. The Company will host a conference call on Friday, August 8, 2014 beginning at 8:30 a.m. Eastern Time.

International Northair Mines Ltd. is pleased to announce proposed changes to its board of directors, advisors and senior officers concurrent with the completion of a non-brokered private placement offering of up to 30,000,000 Units for gross proceeds of up to $3,000,000. Each Unit will be priced at $0.10 per Unit and will consist of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share of the Company at a price of $0.18 per Common Share for a period of 18 months from the closing of the Private Placement and $0.25 per Common Share thereafter until the expiry of the Warrants three years following closing of the Private Placement.