Month: August 2015

GREAT PANTHER SILVER LIMITED announces that its board of directors has determined that it is not in the best interests of the Company to accept the resignation submitted by Jeffrey Mason, who was elected at the Company’s Annual General Meeting of Shareholders held on June 4, 2015. Mr. Mason did not receive the support of the majority of the votes cast at the meeting. In accordance with the Company’s majority voting policy, Mr. Mason submitted his resignation to the Chairman of the Nominating and Corporate Governance Committee for consideration and acceptance or rejection at the discretion of the Board.

Goldgroup Mining Inc. has issued 16,500,000 common shares to Oroco Resource Corp. with respect to the acquisition of the Cerro Prieto project purchased in 2013 (see news release dated September 3, 2013). As part of the purchase agreement, the Company committed to issue 16,500,000 of its common shares or, at its option, pay US$4,125,000 to Oroco on or before August 30, 2015. The Company has elected to issue the common shares as opposed to cash settlement.

At the request of the Investment Industry Regulatory Organization of Canada, Bacanora is providing this clarification statement in connection with its press release dated August 27, 2015 wherein it announced the entering into of a supply agreement among Bacanora, Rare Earth Minerals plc and, Tesla Motors, Inc., the maker of electric vehicles and energy storage solutions. In that earlier release, the Company referred to the design and construction of a mine and processing facility with an initial estimated production capacity of 35,000 tonnes of lithium compounds, with the scaling potential of up to 50,000 tonnes per annum. It should be noted that the foregoing estimates are internal…

A new lithium project in northern Mexico has received the first seal of approval to supply the Tesla Motors Gigafactory.London-based Bacanora Minerals and Rare Earth Minerals have received the go-ahead to supply lithium hydroxide to Tesla’s lithium-ion battery megafactory from its clay deposit in Mexico’s north-west.

The aggregate gross proceeds of the private placement were approximately CDN $2 million and were received prior to closing. The Company issued 11,027,555 units at a price of CDN $0.18 per Unit, with 5,555,555 Units allocated to the non-brokered portion and 5,472,000 Units allocated to the brokered portion of the offering. Each Unit consists of one common share and one half of one common share purchase warrant. Each whole Warrant entitles the holder to acquire one common share at an exercise price of CDN $0.25 for a period of 36 months from the close of the placement.

BACANORA MINERALS LTD. and Rare Earth Minerals plc, the owners of the Sonora Lithium Project in Northern Mexico, have finalised a conditional long-term lithium hydroxide supply agreement with Tesla Motors, Inc., the maker of electric vehicles and energy storage solutions.

Goldcorp Inc. and Teck Resources Ltd. said Thursday they are combining two copper-gold projects in Chile. A month earlier Barrick Gold Corp. brought in Antofagasta Plc as a 50 percent partner at its Zaldivar copper mine.

First Majestic Silver Corp. and SilverCrest Mines Inc. are pleased to announce that SilverCrest has been granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of a special meeting of SilverCrest shareholders to consider the previously announced arrangement among First Majestic, SilverCrest and SilverCrest Metals Inc. and the mailing of a joint management information circular.

“During the second quarter the Rosario Mine made a solid comeback in terms of operational performance. Head grades are much improved at close to 322 g/t silver equivalent largely as the result of well managed dilution control. These improvements in addition to other cost control initiatives have brought our costs down 18% to AISC $16.86/oz silver equivalent when compared to the previous full quarter of operations.” said Arturo Préstamo, President and CEO….

Kootenay Silver Inc. is pleased to announce that, further to its press release dated July 16, 2015 and August 11, 2015, it has closed its non-brokered private placement and issued an aggregate of 800,000 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $240,000, including the initial tranche an aggregate gross proceeds raised to the Company is $1,315,950.