Geologix Explorations Inc. is pleased to announce its common shares have been conditionally approved for listing on the TSX Venture Exchange. Geologix has applied to the Toronto Stock Exchange for a voluntary delisting of its common shares since, as a result of the Company’s current share price and lack of exploration activity in 2015, it no longer meets the TSX’s continued listing requirements.
“Though copper and silver mineralization was successfully intersected during the drilling program completed at the La Cobota Project in January, the overall results do not support further development work under the currently challenging commodity price and economic circumstances. Nonetheless, the Company considers Mexico to have excellent geological potential and will continue to evaluate projects there as part of its ongoing business development program to diversify and expand its project portfolio,” said Chief Executive Officer Pieter Britz.
2015 was a successful year for McEwen Mining! Our production increased by 22% to 154,529 gold equivalent ounces and our all-in cost decreased by 29% to $1,055 per gold equivalent ounce. Our treasury grew with cash flow from our operations, while at the same time we were able to return capital to our shareholders for the first time and buy-back our stock while prices were low. We are forecasting continued strong performance from our El Gallo mine and our San José mine is poised for better financial performance this year as Argentina once again embraces mining. We are well positioned with a healthy balance sheet to grow and create value for share owners, we have $40 million in our treasury and no debt! said Rob McEwen, Chairman and Chief Owner.
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The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
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