Month: July 2016

Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 and the remaining funds will be used for general working capital. Effective today the formal agreements to purchase the remaining 50% interest in the San Diego silver project in Mexico were agreed, signed in part and are expected to be notarized and registered next week.

“Despite some production issues in the past few months, we have consistently maintained a positive cash flow. This has allowed us to explore for and find additional higher grade zones at the mine, as we recently reported, as well as to commence an aggressive drill program on our Toiyabe project located in Nevada. With the ramp up of our Altiplano processing facility, we are fully active in exploration, mining and industrial milling of concentrates, covering all facets of mining activity.” reported Robert Eadie, President of the Company.

La firma con sede en Vancouver ha comenzado el proceso de venta formal de la mina Los Filos, dijo el presidente de la firma, David Garofalo, en una entrevista, y está estudiando opciones para su mina Alumbrera en Argentina y la operación Marlin en Guatemala.

“Los Filos, Marlin and Alumbrera are smaller scale mines. They don’t have the economies of scale that our existing five camps offer us” or that a newly acquired gold project, Coffee, “potentially offers us once it’s built out,” Garofalo said.

Azure’s Managing Director, Mr Tony Rovira commented: “I am delighted with the progress we have made at the Alacrán and Promontorio Projects over the last quarter. Delivering the maiden resource at Mesa de Plata was a particular highlight, which allows us to progress toward assessing our various development strategies, and the results from our active drilling programs continue to demonstrate the huge potential of both projects.

The net proceeds of the Offering will be used to fund the exploration and development of the Company’s La Cigarra project in Mexico and for general working capital purposes.

“While lower production was expected in the second quarter, the decision to accelerate a significant organizational restructuring had a short-term, negative impact on gold production. With the decentralization of our business well underway and new mine management installed at the majority of our operations to reflect the new business model,Goldcorp is poised to deliver better gold production and cost performance,” said David Garofalo, Goldcorp President and CEO. “We continued to advance our robust project pipeline with the decision to proceed to construction with high rate of return expansions at our Peñasquito and Musselwhite mines.”

“The second quarter saw continued strong operating results from all of our mines coupled with record safety performance”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Given these strong results and a more robust gold price environment, we have significantly improved our financial position, while continuing to make important investments in several of our growth projects. In addition, we have raised our dividend signaling our confidence in our business and growth plan”, added Mr. Boyd.