Month: March 2016

“I am very pleased to have the opportunity to help guide Alix’s growth strategy.” stated Mr. Ecclestone. “I have connections with Mexico going back to the 1990s and find the country one of the best places to engage in business. In particular the Electra project is exciting as it gives a chance to try and exceed what has already been achieved at the neighbouring Sonora project. The JV with Lithium Australia, another company with which I am acquainted brings a unique skillset in lithium mica clays.”

Keith Piggott, Chairman, President and CEO of Goldgroup commented: “The Company has continued its effort to bring better efficiency into Cerro Prieto to allow profitability at lower metal prices. Our key focus for 2016 is to continue to ramp up gold production and lower crushing and mining costs. With the recent closing of the Credipresto credit facility amendment and improved metal prices, the Company will continue to seek opportunities to improve its financial position.”

Proceeds will be used for general working capital and to prepare an internal scoping study to pre-feasibility standards and subsequently advancing this internal scoping study to comply to NI43-101 standards by independent engineers. In addition, the Company will use proceeds to initiate the process of environmental permitting to be supported by the internal scoping study targeting underground mining operations up to a rate of 500 tons per day on the Tahuehueto Project.

MAG Silver Corp. announces that it has completed its previously announced bought deal financing and has issued 8,905,000 common shares at US$7.30 per share, for gross proceeds of US$65,006,500. The Offering was conducted by a syndicate of underwriters led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd., and including Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and PI Financial Corp. The Underwriters reserve the right to exercise all or any portion of an over-allotment option of 1,335,750 common shares at any time within 30 days following closing.