Azures Managing Director, Tony Rovira, stated: While the IP and soil sampling surveys are in progress at La Morita and San Simon, weve continued our exploration activities across the wider Alacrán property. Results continue to exceed our expectations, with several new areas returning strong precious and base metal mineralisation which we are following up.
Oceanus Resources Corporation is pleased to announce that it has undertaken a non-brokered private placement financing to raise a minimum of $1,000,000 and a maximum of $1,500,000 by the sale of units of the Company at a price of $0.20 per unit.
Goldgroup Mining Inc. today announces that it has agreed to amend the payment terms for theUS$1,000,000 balance of principal remaining owing from the US$1,500,000 promissory note issued by the Company to Oroco Resource Corp. pursuant to terms of the Cerro Prieto property sale. Goldgroup has issued the Oroco two promissory notes in replacement of the Note. The first note, in the principal amount of US$250,000, is payable on demand. The second, in the principal amount ofUS$750,000, is payable on or before September 15, 2015. Both new promissory notes bear 8% annual interest, payable monthly in arrears.
We are very pleased with this preliminary economic assessment, as it demonstrates the exceptionally high returns of the optimization project proposed for Platosa, with a modest capital investment, stated Brendan Cahill, President and Chief Executive Officer. Platosa has been Mexicos highest grade silver producer for over a decade and we now see the clear opportunity to resume being one of the lowest cost producers in the silver industry…
Certain minority shareholders, writing on behalf of investors who collectively own approximately 5.5% of common shares (based on the diluted shares outstanding prior to a proposed private placement), sent a letter to the Board of Directors of Aura Minerals Inc. detailing their disapproval of capital allocation, management entrenchment and the inability or unwillingness to take actions necessary to maximize the per share value of Aura’s equity.
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