Month: April 2016

“With a steady first quarter behind us, 2016 is shaping up to be a solid year for Avino. Our operations team delivered another quarter of consistent production and development at the San Gonzalo and Avino Mines respectively, putting us in a strong position to achieve our goals for the year. In 2016 our objectives are to continue to focus on efficient operations including improving recovery rates, meeting production targets, controlling costs and transitioning the Avino Mine from the development phase to underground mining. Underground Mining commenced on April 1 on upper level 11.5 using the long-hole sub-level caving method, which is a cost effective method of extraction,” David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Marlin Gold Mining Ltd. announces that it will be offering rights to holders of its common shares at the close of business on the record date of April 18, 2016, on the basis of one right for each common share held. Each Right will entitle the holder to subscribe for 0.3752 Common Shares of Marlin upon payment of the subscription price of $0.30 per Common Share. The Rights Offering will be conducted in Canada only.

Southern Silver Exploration Corp. announces that it has closed its previously reported non-brokered private placement by issuing 12,000,000 Units at a price of $0.05 per unit for gross proceeds of $600,000. Each unit consisted of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.08 per share.

Endeavour CEO Bradford Cooke commented, “Our plan for 2016 is to focus on profit margin by minimizing all-in sustaining costs and improving after-tax free cash flow at each mine. That means investing less on exploration and development, primarily at El Cubo and Bolañitos, as well as evaluating new opportunities to reduce operating costs at each mine.

Cyprium Mining Corporation, a Canadian-based mining company with operations located in the state of Chihuahua, Mexico, is pleased to announce that, subject to TSX Venture Exchange Inc. approval, it has closed the first tranche of its previously announced private placement of up to 8,000,000 units at a price of CDN $0.065 per Unit for gross proceeds of up to CDN$520,000. Under this first tranche, Cyprium issued 5,890,000 Units for gross proceeds of CDN$382,850. Each Unit is comprised of one common share in the capital of the Corporation and one share purchase warrant of the Corporation. Each Warrant will be exercisable into one Common Share at an exercise price of CDN$0.10 expiring two years from the date of issuance.

GoGold Resources Inc. reports that the Company produced 335,183 silver equivalent ounces for the second quarter ended March 31, 2016 which represents a 45 percent increase over the previous quarter. The Company sold 348,861 silver equivalent ounces during the quarter which was an increase of almost 60 percent over the previous quarter. The Parral project continues to be a low cost operation with costs averaging $6.78 per silver equivalent ounce and $2.73 per silver ounce using gold as a bi-product credit.

Wealth Minerals Ltd. is pleased to announce that they have received TSX Venture Exchange acceptance to close the non-brokered private placement announced on March 23, 2016.

Coeur Mining, Inc. today announced first quarter production of 3.4 million ounces of silver and 78,072 ounces of gold, or 8.1 million silver equivalent ounces.

Chairman of the Board, Mr. Jim Kofman, commented: “The Company is very excited to have Ms. Walsh and Mr. Atkinson join its Board of Directors. Their wealth of experience will be a tremendous asset to all Argonaut stakeholders as we continue our goal of transforming the Company into a mid-tier producer. On behalf of the entire Board, I want to thank Dave Watkins for his contributions to Prodigy Gold and to Argonaut Gold. His insights have helped the Company in advancing the Magino project which is an exciting part of the Company’s future.”