Day: August 1, 2016

“Proyectos como Metates, en Durango; Cerro del Gallo, en Guanajuato; Camino Rojo, en Zacatecas y Esperanza en Puebla, que en principio mostraban indicios de buena rentabilidad, debido a la baja en los precios internacionales de los metales y una legislación fiscal menos favorable, decidieron retrasar sus planes y entrar en un proceso de reconfigurar alcances y objetivos, en búsqueda de alternativas que cumplan con las expectativas de los accionistas”, dijo la Cámara Minera de México (CAMIMEX).

“As we await the approval of the MIA for the ‘Don Diego’ project, we remain confident that the project will move forward and our Mexican subsidiary is continuing ongoing efforts to support the environmental approval process with a goal of approval in the second half of 2016. Our current focus is to continue to secure contract work that keeps our offshore team and tools engaged while generating revenue. Although many of these third-party marine service agreements require us to abide by a non-disclosure agreement, I am happy to say that we are currently working on an offshore project on a chartered vessel of opportunity, and we also have additional opportunities in our pipeline that we expect to come to fruition in the near term. We anticipate that our third quarter activities will again generate double the revenue we produced this quarter.”