Month: January 2016

Jorge A. Ganoza, President and CEO, commented: “We once again exceeded annual production guidance and continue to provide year-over-year growth into 2016. I want to highlight that our silver and gold production growth comes with industry leading low costs. This, added to the strength of our balance sheet, positions the company to continue thriving through the phases of the metals cycle.”

“We closed 2015 on a strong note achieving full year guidance with record production of 104,700 ounces of gold in the fourth quarter. The strong fourth quarter performance was driven by improved production from the high grade mill at Mulatos and record production from Young-Davidson where we achieved our year-end underground mining rate target of 6,000 tonnes per day,” said John A. McCluskey, President and Chief Executive Officer.

Levon Resources Ltd. is pleased to announce that, effective January 14, 2016, its common shares will trade on the OTCQX marketplace in the U.S., under the ticker LVNVF. Levon has traded on the OTCQX since September 14, 2015, under the ticker LVVNF. Trading on OTCQX is designed to provide current and future U.S. based shareholders with greater access to and ease of trading in the Company’s shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Levon Resources Ltd. onwww.otcmarkets.com.

Santacruz Silver Mining Ltd. reports that the exclusive mandate period provided to the CrediPresto Group in connection with the previously announced proposed Loan Facility with the CrediPresto Syndicate has expired. The terms of the proposed Loan Facility contemplated the Company and the CrediPresto Syndicate closing the transaction on or before December 31, 2015. In connection with this event the Company has opened discussions with other groups in addition to the CrediPresto Syndicate with respect to restructuring and replacing the current corporate debt.

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.

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 Gold’s 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.