Cyprium Mining Corporation is pleased to announce the results from its initial phase of exploration at the Potosi silver mine located in Santa Eulalia, Mexico. On July 28, 2015, the Company announced the signing of letter of intent to acquire a 53% controlling interest in a joint venture to be formed which will have the rights to explore and exploit the historic Potosi silver mine.
Founded by Keith Neumeyer of First Majestic Silver and First Quantum Minerals, the company listed on the TSX Venture exchange in April through a reverse takeover. Before it went public, the company started out as a combination of private explorer Sundance Minerals and one of Neumeyers private companies, plus a couple of First Majestic Silver properties. But soon after it listed, First Mining went after its first acquisition, beating rival bidder Sulliden Mining with an $11-million, all-stock offer for Coastal Gold and its Hope Brook gold project in Newfoundland in July.
“Production hit record levels for a second straight quarter, as Silver Wheaton produced nearly 11 million silver equivalent ounces in the second quarter of 2015. To provide some context, in the first half of 2015 we produced over 21 million silver equivalent ounces, whereas in 2011 the Company produced just over 25 million ounces for the whole year. Adding to the production growth, in the second quarter of 2015 we also saw record sales volumes of ten million silver equivalent ounces. We are proud to be delivering on our 2015 production growth guidance of over 20% and reiterate that this growth is fully-funded,” said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton.
Keith Neumeyer, President and CEO of First Majestic, stated: “Our all-in sustaining cash costs in the first half of 2015 came in at the low end of guidance at $14.18 per ounce, or a 23% reduction compared to $18.46 per ounce in the first half of 2014. Cost reductions at Del Toro have had a great impact on our bottom line with all-in sustaining costs falling to $7.13 per ounce in the first half of the year compared to $21.52 per ounce in the first half of 2014. Additional cost savings are anticipated in the second half of 2015 as we realize higher operational efficiencies at La Encantada due to its recent expansion to 3,000 tpd.”
Kootenay Silver Inc. is pleased to announce that, further to its press release dated July 16, 2015, it has closed the initial tranche of its non-brokered private placement and issued an aggregate of 3,586,500 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $1,075,950. The Company anticipates closing the balance of the Private Placement shortly and will provide an update in due course.
Further to its press release of August 10, 2015 announcing the closing of the Company’s amalgamation with Cortez Gold Corp., Starcore International Mines Ltd. announces that, subject to regulatory acceptance, it proposes to issue 15,972,810 shares at a deemed value of $0.14 per share in full and complete settlement of outstanding debt in the aggregate amount of US$1,500,000 owed to certain creditors.
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