Month: February 2016

“Gold production for the fourth quarter exceeded expectation due to efficient leaching and plant operations. Mine operations at San Francisco were impacted by greater than expected waste tonnes mined in the quarter due to local model variability observed versus prediction. We have made adjustments to the model and our operating plan and remain on track to achieve our 2016 objectives,” stated Mark Backens, Interim CEO of Timmins.

NSX Silver Inc. (TSXV:NSY) announces that effective at the opening on Monday, February 8, 2016, the Company’s listing will transfer to the NEX Board of the TSXV. The NEX trading platform is a separate board of the TSXV.

Shares in ArcelorMittal — the world’s largest steelmaker, supplying New York’s One World Trade Center and London’s Wembley stadium — have dropped 58 percent in the last 12 months. They’ve been hit by declining prices for steel as China pushes it onto the world market at record levels to counter its slowing economy. Prices for the iron ore ArcelorMittal mines have also dropped as demand for the steel-making material fell and supplies from exporters expanded.

VVC Exploration Corporation announces that the court proceedings, described below, in Juarez Mexico may at some point impact the zoning of the Company’s Samalayuca Copper project in the State of Chihuahua, Mexico:

Mr. Mladosich brings over 30 years of direct experience in the mining industry in México to DynaResource. He has worked for Companies such as: Compania Mineras de Cananea, Compania Minera Hecla (Hecla Mining), Compania Minera Pangea (now owed by McEwen Mining), Compania Minera Dolores (Minefinders), Minera Alamos de Sonora, and Compania Minera Pena de Bernal (Starcore International Mines). Mr. Mladosich has also provided consulting services to companies such as Minefinders, Pan American Silver and Scorpio.

“Our strategic focus for the last several years has been to lower operating costs and improve productivity at both of our operating mines while transitioning the Galena Complex from silver-copper to silver-lead production,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “We also made substantial capital investments over the last two years, which will allow us to increase our silver-lead resource to a level that should maintain current production rates at Galena for the next 7-9 years. In addition, we had another steady year at the Cosalá Operations and despite falling prices have once again extended the mine life at Neustra Señora. Management will continue to make the changes necessary to respond to the reduction in metal prices.”

Primero Mining Corp. announced today that its Mexican subsidiary, Primero Empresa Minera, S.A. de C.V. has received a legal claim from the Mexican tax authorities, Servicio de Administración Tributaria, seeking to nullify the Advance Pricing Agreement issued by SAT in 2012. The APA confirmed the Company’s basis for paying taxes on realized silver prices for the years 2010 to 2014 and represented SAT’s agreement to accept that basis for those years. The legal claim initiated does not identify any different basis for paying taxes. The Company believes this legal claim is without merit and it intends to vigorously defend the validity of its APA. The Company’s operations continue as usual.

“Santacruz has focused on producing cost-effective ounces in Q4 and will continue to do so in 2016,” stated Arturo Préstamo, CEO of Santacruz. “Our previous initiatives have provided the base from which we can continue to produce cost-effective ounces while at the same time increasing production as the opportunity arises. In the current market environment it is vital to the viability of the Company that we continue to operate in this fashion. In addition we are making significant strides at the Veta Grande Mine and anticipate bolstering our production performance once the Veta Grande milling facility is fully operational.”

Prospero Silver Corp. is pleased to announce that it has entered into a new agreement with Exploraciones del Altiplano, S.A. de C.V., a privately held Mexican Company, in respect of new work programs on the San Luis del Cordero property in Durango State, Mexico. A previous agreement, dated August 29, 2008, contemplated Prospero completing an exploration program exploration at Cordero with staged payments of cash; the issuance of Prospero shares and certain exploration expenditures on the property, leading to Prospero acquiring 100% ownership, subject to a residual 2% NSR royalty for Altiplano. Due to difficult market conditions, Prospero was not able to keep pace with the cash and expenditure requirements of that 2008, and had to rely on informal accommodations from Altiplano in order to retain its interest in the Cordero property…