Month: July 2015

“The significant increase in the Topia Mineral Resource Estimate reflects continual refinements and improvements in our resource model,” stated Robert Archer, President & CEO. “The improved modeling, successful in-vein development and better reconciliation between the geological model and actual mine output resulted in an increase in estimated tonnage and contained ounces, in spite of a notable drop in the silver price. In addition, our operations team continues to convert Inferred resources to M&I resources through underground development and sampling, underpinning the long mine life at Topia.”

David Wolfin, President & CEO of Avino commented, “We are very pleased to have this business relationship with one of the world’s largest corporations. This agreement marks a major milestone for Avino. Samsung’s financial terms puts a significant seal of approval on the Company. We are thrilled that Avino’s precious and base metals will make their way into end user consumer products. Samsung is both a consumer and trader of silver, gold and copper. This low cost money ensures that Avino will have sufficient capital to further advance operations and continue with its growth strategy without dilution to shareholders…

Endeavour CEO Bradford Cooke commented, “Our main theme in operations during the second quarter was the El Cubo mine expansion to 2,200 tonnes per day (tpd) in order to continue driving cash and all-in sustaining costs down. I am pleased to say that El Cubo achieved its 2,200 tpd target as planned at the end of Q2, 2015 (see table below).

Keith Neumeyer, President & CEO of First Majestic, states, “During the first half of 2015, we produced 7.7 million silver equivalent ounces, which puts us on track of achieving our annual goal of producing between 15.3 to 17.1 million silver equivalent ounces. Production at Del Toro reached a record 2.5 million silver equivalent ounces in the first half of this year, representing a 46% increase compared to the first half of 2014. This substantial increase is primarily due to the Company’s decision in mid-2014 to reconfigure the plant in order to process 100% of the ore through flotation.”

Coeur Mining, Inc. today announced preliminary second quarter production of 4.3 million ounces of silver and 80,855 ounces of gold, or 9.1 million silver equivalent ounces.

Aura Silver Resources Inc. announces that it has closed its non-brokered private placement offering previously announced on May 25, 2015. A total of 11,150,000 units at $0.015 per unit were issued for gross proceeds of $167,250. The Company has applied for, and received, conditional approval from the TSX Venture Exchange for a waiver from the five-cent minimum price requirement.

Minera Alamos Inc. has closed the second tranche of a brokered private placement financing with IBK Capital Corp. The aggregate gross proceeds of the private placement has now been increased to $335,000.

Keith Neumeyer, Chairman of First Mining said, “I would like to take this opportunity to personally welcome Coastal Gold shareholders into our company. We have many exciting plans. The acquisition of Coastal Gold and its 100% owned Hope Brook Gold Project is an attractive and strategic addition for First Mining’s portfolio. The transaction provides Coastal Gold’s shareholders with exposure to First Mining’s large portfolio of mineral projects as well as one of the most respected teams of management in the mining sector.”