At the meeting, all director nominees listed in the Company’s management information circular dated April 25, 2016, were elected as directors of the Company.
The net proceeds from the Placement are intended to be used to fund the costs related to the ongoing discussions with Li3 Energy, Inc. pursuant to the letter of intent with Li3 announced on February 1, 2016 including to carry out and complete the required due diligence on Li3 and the Maricunga Lithium Project, for the review and assessment of additional potential lithium mineral property acquisitions and the negotiation of related formal documentation for any such acquisition(s), for property payments and work programs on the Companys existing mineral properties and for general and administrative expenses and working capital.
Fred Stanford, President Anchor& CEO of Torex stated: The team on site continues to deliver excellent safety and environmental performance, and to exceed production expectations. In May they routinely operated the processing plant at design throughput levels and produced 29,995 ounces of gold, or 1,000 ounces per day. The Guajes deposit has also exceeded the expectations of the geological model, in both grade and tonnes. We have now processed over one million tonnes through the plant and can compare what the plant received against what was predicted by assays from blast-hole samples, and from there relate through to the geological model. In summary, since the plant was bedded down at the end of February, when data became reliable, the plant has received 12% more gold ounces than was predicted by the geological model. Of this 12% increase in gold ounces, 10 came from increased grade, and 2 came from increased tonnage. Skarns are known to be variable and there is no reason to expect that this one will be any different; however, it is encouraging to note that as we work deeper into the Guajes deposit the positive reconciliation has strengthened. In conclusion, a big thank you to all Torex/MML teams, for their consistent performance in turning intentions into reality.
“The Cerro Cascaron project is an indication that the mineral endowment in Mexico continues to produce untested high quality exploration targets,” commented Alain Charest, Evrim Resources’ Vice President Exploration for Mexico. “In six months Evrim’s exploration team has transformed Cerro Cascaron from an unexplored concession to a highly prospective low sulphidation epithermal gold target.”
President and CEO of Riverside Resources Inc., John-Mark Staude stated: We appreciate all of the effort that Morro Bay has put into advancing the Penoles Project. Riverside has strived to be a collaborative partner as evidenced by the numerous amendments to the option agreement during challenging times in the junior exploration sector. We see good potential at the Penoles Project and the main motivation for issuing a default notice is to ensure that the Penoles Project continues to advance, as we feel there is good potential to build on the initial resources that have been defined to-date.
“This was a very difficult quarter and as discussed in the third quarter release, the calendar year got off to a slow start. Most of our customers have reduced their exploration budgets for calendar 2016 based on low commodity prices that were prevailing at the end of calendar 2015. Although some commodity prices have improved over the last four months, most mining companies remain cautious in their spending,” said Denis Larocque, President and CEO of Major Drilling Group International Inc.
VVC Exploration Corporation announces a convertible debenture private placement financing of up US$1,000,000 (or CA$1,250,000) and the grant of options.
DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the delivery for sale, on June 6, 2016, of an approximate 625 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).
GoGold Resources Inc. is pleased to announce that it has closed its previously announced bought deal offering of 8,561,078 units of the Company at a price of C$1.30 per unit which includes 861,078 units issued pursuant to the exercise in part of an over-allotment option, for gross proceeds to the Company of C$11,129,401.40.
Canasil Resources Inc. announces a non-brokered private placement of 7,500,000 units at a price of $0.32 per Unit for total gross proceeds of $2,400,000. A finders fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.
Check the Mining State Panoramas
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.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
