Day: August 14, 2015

Gerald Metals S.A. has acquired the Senior Loan and will provide Red Tiger with an additional US$1.5 million working capital facility;…

Commenting on the Company’s first full quarter of commercial production results, Terry Coughlan, Chief Executive Officer said, “We are very pleased that the Parral heap leach facility has generated positive cash flow from operations since its second month of operation. In this lower than expected metal price environment we are very fortunate to be producing silver at a cost of $5.54 per silver equivalent ounce, which is one of the lower cost silver producers in Mexico.”

Mr. Kevin Drover, Aurcana’s President and CEO, said. “Over the past year we have adapted to very difficult metals markets, reducing our production costs by 26% per ounce on a silver equivalent basis. The Company continues to focus on reducing operating costs and increasing efficiencies. Operations are impacted by the current poor metals prices however Aurcana is now well positioned to benefit from any improvement in metals prices, particularly silver and copper prices.

Pete Dougherty, President and CEO of Argonaut Gold stated, “Argonaut achieved another solid quarter of operating performance and again, despite a challenging gold environment, added cash to the balance sheet net of the payment for San Agustin. We made adjustments to our operations during the quarter and will continue to be vigilant in focusing on costs, cash flow and returns in this lower gold price environment. We have advanced our capital projects in the first half of the year with the majority of the work being completed, and with nearly 80,000 ounces of GEO production to date, we are well on our way of achieving our full year production guidance.

“Our focus continues to be on lowering operating costs and strengthening our financial flexibility, with the goal of cash flow positive operations in the second half of the year,” said Americas Silver Corporation President and CEO Darren Blasutti. “As we ramp up our silver and silver equivalent production in the second half of 2015, production costs will continue to decline as we maintain vigilant cost and capital controls throughout the organization.”

Alta Vista Ventures Ltd. is pleased to announce that it has signed a Letter of Intent to purchase Thor Pharma Ltd. Thor Pharma is based in Burlington, Ontario and has an MMPR (Marijuana for Medical Purposes Regulations) application with Heath Canada that is in the Enhanced Screening stage of the MMPR application process.