Month: August 2015

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.

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.

“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.”

Commenting on the Company’s 2015 second quarter results, Geoff Burns, Chief Executive Officer, said, “We had a very strong production quarter, meaningfully increasing our silver and gold production as compared to both the second quarter of 2014 and the first quarter of 2015. At the same time, we were able to significantly reduce our cash costs and AISCSOS (by 25% and 20%, respectively, as compared to a year ago).” …

Almaden Minerals Ltd. is pleased to announce that the TSX Venture Exchange has issued a bulletin stating that the common shares of Almadex Minerals Limited will commence trading on the TSXV at the open of trading on Friday, August 14, 2015. The Almadex Shares will trade under the symbol “AMZ”.

“The second quarter was tough this year, though in line with expectations, and we have made further strides in reducing unit costs throughout the operation,” stated Brendan Cahill, President and Chief Executive Officer. “We have realized a material improvement in production costs per tonne, with costs now below the cost per tonne of significantly higher tonnage periods in the first half of 2014….

J. Scott Drever, Chief Executive Officer, stated; “The second quarter was another successful quarter for SilverCrest. Santa Elena’s record Q2 AgEq production delivered strong financial results despite the lower precious metals price environment. We generated cash flow from operations of $8.1 million ($0.07 per share) and net earnings of $3.86 million ($0.03 per share)….

Billionaire sees mining company Minera Frisco tumble 53 per cent as the collapse in gold prices to a six-year low takes its toll