Excalibur Resources Ltd. has sold its 49% interest in Minera Catanava to its 51% partner Minera Apolo for US$75,000. Over a period of 4 years, the plant was unable to generate positive cash flow, due to lower than expected average grades, recoveries and concentrate purchase prices. In addition, there were ongoing equipment breakdowns, low volumes, water shortages, etc such that there was no justification for further investment.
Marlin Gold Mining Ltd. is pleased to announce that it has completed its previously announced non-brokered private placement of common shares. Pursuant to the Equity Offering, Marlin issued 23,214,286 common shares of the Company at a price of $0.56 per Common Share for aggregate gross proceeds of approximately $13,000,000.
New Gold Inc. is pleased to announce the appointment of Kay Priestly to its Board of Directors.
Cyprium Mining Corporation is pleased to announce details regarding the expansion plans of its flotation plant located in Aldama, Mexico. The plan has two main objectives. The first objective is to optimize plant processes and improve efficiencies to maximize recoveries in order to ensure satisfactory margins. The second objective is to double the current plant capacity to 200 tons per day. The planned investments, which started in May, should take about four months and total approximately US $400,000.
Today we mourn the passing of a great figure in Canadian mining, commented Brendan Cahill, President and Chief Executive Officer. He was an entrepreneur who experienced success in many industries worldwide. He was a connector of people and ideas who asked for nothing in return. He was selfless in his work and fundraising for charitable causes. He was an exceptional mentor, for so many as well as myself. Our deepest condolences go to Peters family and all of the people he touched over the years.
Gainey Capital Corp. is pleased to announce that it has signed a Confidentiality Agreement with Ignacio Echavarria Valenzuela of Cosala Mining Corp. Gainey is in the process of receiving mineralized material from a number of Cosalas concession holdings located in the Sierra Madre mining district in the state of Sinaloa, Mexico. This shipment of material is to be sampled and assayed at Gaineys, 100%-owned, 300-tpd Processing Centre, which is in close proximity to Cosalas properties.
Torex Gold Resources Inc. is pleased to announce that it achieved the 2/3rds completion milestone in the construction of its flagship El Limon-Guajes Project at its 100% owned Morelos Gold Property in Mexico. The Company also announced that a draw of $50 million on its debt facility was received at the end of May.
Levon Resources Ltd. is pleased to announce that Levon’s shareholders and option holders have voted today at the special meeting of Security holders to approve the previously announced plan of arrangement involving SciVac Ltd., Levon and 1027949 B.C. Ltd. The Arrangement was approved by 97.64% of the votes cast by Shareholders and 98.06% of the votes cast by Security holders, voting together as a single class, at the Meeting.
PREMIER GOLD MINES LIMITED is pleased to announce that it intends to complete a non-brokered private placement of common shares at a price of Cdn$2.35 per share, for aggregate gross proceeds of up to approximately Cdn$20,000,000. Goldcorp Inc. will participate in the private placement in the amount of Cdn$12.5 Million.
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