Month: August 2015

In October 2014, as a result of a review of its disclosure record as of that date by staff of the British Columbia Securities Commission, War Eagle concluded that clarification of certain aspects of its previous disclosure is required to clarify prior disclosure made by it respecting mineral properties then held by the Company in Mexico and Canada. This was in reference to previous Company statements related to the Tres Marias former producing zinc-lead-germanium mine in Chihuahua, Mexico, and the MAC rare earth exploration project in the Northwest Territories, Canada. Since that disclosure was made the Company has disposed of the Tres Marias mine and has dropped the MAC claims.

Catalyst Copper Corporation announces a private placement of $300,000 with Mr. Richard Warke, President and CEO and a director of the Company and Mr. Frank Giustra, a director of the Company.

“Avino is pleased to report another successful quarter of financial and operational results. We have maintained an efficient cost structure while advancing and expanding our operations. Our low all-in sustaining consolidated cash costs of $11.72 per AgEq is consistent with previous quarters and we continue to review opportunities to further reduce costs and improve efficiencies. Softer metal prices continue to present challenges however our strong financial and operational condition, and the recent receipt of $US10 million prepayment from Samsung, has well positioned the Company to advance and meet its objectives. ” stated Malcolm Davidson, CFO.

Avino Silver & Gold Mines Ltd. is pleased to report that further to the Company’s press release dated July 9, 2015, the Company has closed the concentrates prepayment agreement with Samsung C&T U.K. Ltd. for USD $10 million, and has received the prepayment amount from Samsung.

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.