Month: October 2016

BACANORA MINERALS LTD., the Canadian and London listed lithium exploration and development company, is pleased to confirm the previously announced appointment of James Strauss as a Director of the Company (with immediate effect) as a result of the completion of all regulatory checks required under AIM Rules.

“This quarter marked an important turn in the Company’s operations, with momentum now building towards the completion of our ongoing optimization program in the first quarter of 2017 and our goal of a completely dry Platosa by spring,” stated Brendan Cahill, President and Chief Executive Officer. “Additionally, recent highigrade drill results immediately adjacent to existing resources and infrastructure are a promising early indicator of the opportunity to efficiently increase high-grade tonnage at Platosa. During Q3, we effectively completed all civil works required for the optimization program and developed into the next level of the Rodilla Manto. This increased development affected production during the quarter, but we are looking forward to the quarters ahead as mining conditions continue to improve. The first major return from the optimization program is scheduled for the coming weeks, with the primary booster pump array and an additional four wells coming online, which are expected to increase the mine-drying rate by over 150%.”

Jim Williams, Chief Executive Officer of Arian commented: “Arian Silver is advancing two routes to becoming a precious metal producer through the potential participation in the development of the Noche Buena tailings project as well as the potential participation in the development of an advanced stage exploration project in the Southern part of the USA. Simultaneously, we have been reviewing our existing portfolio of mineral concessions with a view to delineating a compliant mineral resource on a number of these assets. These are powerful drivers for regrowth and we look forward to providing our shareholders with further updates as these matters progress over the coming months.”

“With a portfolio of world class assets on large land packages in prolific mining camps, we have the potential to significantly expand and upgrade our current reserve and resource base in 2017 and beyond,” said Paul Harbidge, Senior Vice-President, Exploration, “We have just begun to explore the surface at our newest operating assets – Cerro Negro and Éléonore. At the more established camps, such as Red Lake and Porcupine, we are in the process of undertaking generative studies in the districts and re-interpreting the geological information to extend the reserves and resources.”

“We achieved a number of significant milestones during the third quarter despite lower production relative to the second quarter. Our quarterly earnings more than doubled, free cash flow increased 20% quarter-over-quarter and LTM adjusted EBITDA has now risen above $200 million – up from $96 million just 15 months ago. Importantly, we are well-positioned for a strong fourth quarter at each of our five operations,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer.

“Improved performance from our flagship Peñasquito mine and low all-in sustaining costs drove a third quarter that generated solid financial results, as we begin to see the benefits to the bottom line of our program to realize $250 millionin sustainable annual efficiencies from our existing business,” said David Garofalo, Goldcorp President and Chief Executive Officer. “The value of our diversified portfolio in prolific mining camps was also evident with the definition of the new 5.4 million ounce Dome Century open pit resource in our 105 year-old Porcupine mining camp, which has the potential to substantially grow gold production.”

The net proceeds of the Financing will be used for exploration of the Company’s properties, reviewing additional properties, and general working capital purposes.