Day: July 27, 2016

“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.

“The loan funding strategy being adopted in this significant financing avoids further equity dilution to Telson’s current shareholders, seeking to give greater value to investors.” states Antonio Berlanga, CEO and Director of the Company, “Furthermore, the funds available to the Company in the LOC Agreement will allow us to make significant advancement towards the Company’s goal of reaching commercial production at Tahuehueto and the LOC Agreement has the flexibility of full repayment without penalty, allowing the Company to potentially access new loans and/or future equity capital under more favorable market conditions.”

Mr. George is a consulting geologist and entrepreneur who has been involved in international mineral exploration and development for over 35 years. He has raised more than $60 million for various projects around the world, including Mexico. Mr. George was the President and Co-founder of Creston Moly Corp, which acquired Mexico’s largest molybdenum deposit. Creston merged with Mercator Minerals in 2011 in a transaction valued at more than $176 million. Prior to his success with Creston, he was President and CEO of ESO Uranium (predecessor of Alpha Minerals) where he was instrumental in assembling one of the largest land packages in the Athabasca Basin, Saskatchewan; Alpha and its partner Fission Energy made one of the most significant uranium discoveries in recent history on their Patterson Lake South joint venture.

Fortuna Silver Mines Inc. Mr. Simon Ridgway, Chairman of the Board, announces that Mr. Michael Iverson has retired from the Board of Directors. Mr. Iverson joined the board of the predecessor company of Fortuna back in 1998.

“As expected, second quarter production and cash costs were impacted by the ground movement at the Cosalá Operations and expected lower grades at the Galena Complex. This was offset by the Company’s continued efforts to cut costs,” said Americas Silver President and CEO Darren Blasutti. “With Nuestra Señora returning to expected tonnage, grades and recovery, and with Galena expecting higher grades in the second half of 2016, we expect the second half of the year to be stronger. For the remainder of the year, we will focus on a construction decision for our San Rafael Project before the end of the third quarter and increasing mining in higher lead grade areas at the Galena Complex.”