Month: July 2015

Morro Bay Resources Ltd. is pleased to announce it has closed its Private Placement previously announced April 6, 2015. The Private Placement consisted of the issuance of a total of 10,580,000 Units at a price of $0.05 per unit for gross proceeds of $529,000.

Golden Minerals Company announces results of mining activities for the second quarter 2015 of approximately 125,000 ounces of payable silver equivalent, in line with the first quarter 2015.

Pete Dougherty, Argonaut Gold’s President and CEO, said “I am pleased with the progress at all of our properties as we advanced production and exploration efforts. We built a strong cash position during the first half of the year which allowed us to make the final payment on the San Agustin property. At June 30, 2015 we had $44 million in cash after investing $22 million into capital projects during the first half of 2015, and making the $23 million payment for San Agustín…”

Fortuna Silver Mines Inc. is pleased to announce second quarter production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.7 million ounces of silver, 9,032 ounces of gold and significant base metal by-products. Silver and gold production for the first six months of the year totaled 3.3 million and 18,771 ounces respectively; reflecting 51 percent and 53 percent of the company’s annual guidance. Fortuna is on schedule to produce 6.5 million ounces of silver and 35.3 thousand ounces of gold or 8.6 million ounces of Ag Eq in 2015.

McEwen Mining Inc. is pleased to announce record quarterly production at the El Gallo Mine in Mexico of 17,325 gold equivalent ounces, 15% above guidance for the quarter. On a consolidated basis, gold production for the quarter was 39,164 gold equivalent ounces.

Telson Resources Inc. is pleased to announce the signing of an Agreement with Reyna Minas, S.A. de C.V. a private Mexican mining group focused on the acquisition and development of mining projects in Mexico. The Agreement replaces a Letter of Intent signed between the parties on April 15, 2015. The Agreement and proposed transaction will take the form of a corporate restructuring, whereby upon full implementation, the Investors will acquire a minimum CAD$2,000,000 worth of Units of Telson and Telson will consolidate its share capital on substantially the terms and conditions described herein.

Mark Brennan, President and CEO of Sierra Metals, commented: “We are very pleased that the Company has had record total silver equivalent production and silver production for a second consecutive quarter, in addition to record ore throughput. The quality of our assets, operated by our skilled teams, enables us to continue on the path towards meeting 2015 production guidance.”