Month: May 2015

MAG Silver Corp. announces the Company’s unaudited financial results for the three months ended March 31, 2015. For complete details of the first quarter unaudited Condensed Interim Consolidated Financial Statements and related Management’s Discussion and Analysis, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in United States dollars unless otherwise specified.

“Production and costs during the first quarter were a marked improvement from the fourth quarter of 2014,” stated Brendan Cahill, President and Chief Executive Officer. “We continue to identify further opportunities to reduce costs, particularly on electrical and maintenance at the mine and on corporate G&A. Our primary focus right now is on the planning and implementation of the long-term optimization plan for Platosa, with a preliminary economic assessment on the plan scheduled to be released during this quarter.”

BIG NORTH GRAPHITE CORP. is pleased to announce that it intends to complete a non-brokered private placement of up to 7,000,000 units at a price of $0.07 per Unit, for gross proceeds of up to $490,000. Each Unit will consist of one common share and one half common share purchase warrant. Each full Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.10 for a period of 24 months following the closing of the Offering.

Mark Brennan, President and CEO of Sierra Metals, commented: “The Company’s exceptional production and low production costs helped mitigate a downturn in metal prices during the first quarter. We were still able to achieve strong revenues and operating cash flows to further strengthen our balance sheet and financial outlook. The continued production growth at our three operating mines provides Sierra with a strong outlook for the remainder of 2015.”…

J. Scott Drever, Chief Executive Officer, stated; “We are pleased with the strong start to 2015. Santa Elena’s record AgEq production delivered solid Q1, 2015 financial results, generating cash flow from operations of $7.3 million and net earnings of $2.5 million. We are confident in Santa Elena’s ability to continue to generate positive cash flows during 2015, notwithstanding the lower precious metals price environment…