For 2016, the Company expects to deliver gold production of between 1.23 million and 1.31 million ounces of gold. Silver production is projected at between 6.9 million and 7.2 million ounces of silver and copper production is projected at between 122 million and 125 million pounds. These numbers exclude any share of production from the Company’s interest in Alumbrera.
Southern Silver Exploration Corp. reported today that final assays from the 2015 core drilling program on the Cerro Las Minitas Project, Durango State, Mexico have been received with the results continuing to extend the projections of high-grade silver-polymetallic mineralization at both the Blind – El Sol zone and the recent discovery at the Mina La Bocona zone. Semi-massive and massive sulphides were identified in the southeast extension of the Blind El Sol zone in a thick (+30 metre) contact skarn on the margin of the Central Intrusion in a 2015 extension of drill hole 11CLM-025.
Riverside Resources Inc. is pleased to provide an overview of the Company’s growth plans for the coming year and recap the accomplishments achieved during 2015. This past year has been challenging for resource companies with continued downward pressure on commodity prices and share price depreciation hitting the junior mineral exploration sector particularly hard. Riverside has not been immune to the market forces that have driven down share prices, but the Company has taken advantage with its Prospect Generator business model and has been successful in delivering a number of milestones without company share dilution, while still maintaining a strong corporate treasury.
Pete Dougherty, Argonaut Golds President & CEO said 2015 was a challenging year for the industry and investors. However, I am pleased with our team for the achievements made during the year. We overcame many obstacles while meeting production guidance and completing key capital programs, including the payment of the final installment for the acquisition of the San Agustin project. We have reorganized our operations to operate in a lower gold price environment and have completed the bulk of our capital projects at our operating assets. These actions have placed us on solid footing to move forward and continue to maintain a strong balance sheet, even in a lower gold price environment.
“Capstone’s 2015 copper production met guidance, with outperformance at Pinto Valley and Minto offsetting the production challenges at Cozamin that occurred early in the year,” said Darren Pylot, President and CEO of Capstone. “Pinto Valley had a very strong fourth quarter with record quarterly throughput of over 54,000 tonnes per day, demonstrating significant improvement and exceeding our expectations.”
22% increase in production year-over-year to 154,529 gold equivalent ounces in 2015.
New pro-business government elected in Argentina, positive policy changes already enacted.
4.2 grams per tonne average crushed gold grade at El Gallo Mine in Q4 2015 vs. 2.3 gpt in Q3 2015.
Production guidance of 141,000 gold equivalent ounces in 2016.
No debt, $5.2 million line of credit repaid in full.
$32 million in cash, cash equivalents and precious metals.
2nd semi-annual return of capital of $0.005 per common share will be paid on February 12th, 2016 to shareholders of record at the close of business on February 3rd, 2016.
Kootenay Silver Inc. and Northair Silver Corp. are pleased to announce the execution of a Binding Letter Agreement pursuant to which Kootenay will acquire all of the issued and outstanding common shares of Northair. The combination of Kootenay and Northair will create a leading Mexican silver exploration and development company and consolidator with a portfolio of assets headlined by Kootenay’s Promontorio and La Negra projects and Northair’s La Cigarra project, all of which are based in Mexico. In addition, the combined company will have exposure to a continuum of grass-roots pipeline exploration projects, royalty interests and joint ventures, plus a strong balance sheet providing the combined company with a stable platform for future consolidation in the sector.
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