Month: October 2015

Jorge A. Ganoza, President and CEO, commented, “We continue on target to meet our annual consolidated production guidance. The expansion of our San Jose Mine continues on schedule for commissioning in mid-2016. Once at 3,000 tpd, San Jose is planned to operate at an all-in sustaining cash cost of US$7 – 8, net of by-product gold, and will rank among the thirteen largest primary silver mines in the world.” …

Goldgroup Mining Inc. has read a news release disseminated by DynaResource de Mexico SA de C.V. on October 13, 2015. Goldgroup was never notified of the purported court case discussed in the Release, does not recognize any of the claims mentioned therein and is of the belief that such claims are without merit. The Company is reviewing its options and intends to exercise all of its legal rights in order to have the purported judgement discussed in the Release disregarded, set aside or otherwise overturned, and further will seek damages for misrepresentation against Dyna and all relevant parties.

“Great Panther’s third quarter continued this year’s trend of delivering strong operational performance at the Guanajuato Mine Complex and the Topia Mine”, stated Robert Archer, President & CEO. “The ongoing ramp up in production at San Ignacio, since commencing commercial production in June of last year, was a major factor in the increase in production over the third quarter of 2014 and also contributed to the higher grades at the GMC. In addition, our team’s pursuit of efficiencies and better grade control is another important factor in the overall stronger operations that are keeping us on track to exceed our guidance for 2015 in terms of both production and lower cash and all-in sustaining costs.”

Canarc Resource Corp. announces that it has engaged Mining Plus Engineering to complete during Q4 2015 a NI 43-101 Resource Report and detailed Preliminary Economic Assessment Report for the newly acquired El Compas project in Mexico.

“Our third quarter results saw overall improvements in silver recoveries and throughput rates primarily due to the recent expansion of the La Encantada plant to 3,000 tonnes per day. At San Martin and La Guitarra, we continue to encounter high grades of silver and gold which resulted in record quarterly production at both operations,” stated Keith Neumeyer, President & CEO of First Majestic. “However, due to the continued weakness in metal prices, we are modifying our operations in order to ensure free cash flow is generated across the entire business. These changes include additional layoffs and mine plan revisions. Once these changes are fully implemented, and with the addition of the newly acquired Santa Elena Mine, the Company is expected to benefit from improved operating margins, increased cash flows and greater economies of scale.”

San Marco Resources Inc. announces that the expiry date of its warrant exercise incentive program respecting warrants issued under two non-brokered private placements completed in 2014 and 2015 has been extended to Friday, October 30, 2015.

First Mexican Gold Corp. is pleased to announce, further to its September 22, 2015 press release, it has executed a definitive agreement with Link Natural Resources FZC (LNR), a private entity in the United Arab Emirates (Dubai) to form a 50/50 Joint-Venture in order to further advance the Guadalupe project. LNR will acquire a 50% working interest in exchange for a scheduled investment within the first year totaling $8.0 million (all funds US) in accordance with the following: