Month: October 2016

Gold Resource Corporation reports preliminary production results for the third quarter ended September 30, 2016 of approximately 6,066 ounces of gold, 431,335 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

“I am very pleased to see significant benefits from the operational improvement program at the Yauricocha Mine continuing to have a strong impact on operational results.” commented Mark Brennan, President and CEO of Sierra Metals. “We anticipate improved consolidated results quarter over quarter in the current year.”

We are pleased to report another quarter of consistent production from our operations in Mexico. With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite the challenges faced in the second quarter. Although our overall output was down slightly this quarter, we are encouraged that the decrease was mainly the result of lower recoveries at the Avino Mine where mining activities took place in a new zone. Moving forward, we expect recoveries to improve as we optimize the plant for material from this new zone. Advancing our underground operations into new areas is fundamental to our goal of expanding both mining and processing operations. Further to this goal, we have commenced exploration drilling in the gap zone between ET and San Luis located within the Avino mine which we expect could significantly add to our current resource block at the Avino Mine.
-David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Baja Mining Corp. announced today that the previously announced consolidation of the Company’s issued and outstanding common shares on the basis of one post-consolidation common share for every twenty pre-consolidation common shares and the change of the Company’s name from “Baja Mining Corp.” to “Camrova Resources Inc.” will be effective on October 17, 2016. The Common Shares will begin trading on a post-consolidated basis and under the new Company name on the TSX Venture Exchange under the trading symbol “CAV” at market open on Monday, October 17, 2016.

Pete Dougherty, President and CEO, stated: “Heavy rainfall during the quarter at El Castillo made it extremely difficult to hit our mining and throughput targets. Also at El Castillo, due to the revision of mine sequencing, we have mined much lower grade oxide and much more sulphide ore than planned in 2016 which will lead to more oxide production in 2017. Now that the rainy season is past us, we are mining the higher grade oxide ore from phase six. We believe that the fourth quarter should improve in terms of ore placements – particularly with the additional crushing capacity.

“Es un honor atestiguar el inicio de los trabajos del club deportivo que representa en su construcción una inversión por el orden de los 14 millones de pesos, y la generación de cientos de fuentes de empleos, y una vez terminado será un agradable lugar de reunión, deporte y esparcimiento familiar”, expresó la presidenta municipal de Caborca, Karina García Gutiérrez.

Alset Energy Corp. announces that it has closed the first tranche of its previously announced re-priced private placement. Gross proceeds from the tranche totaled $207,940 consisting of 256,667 flow-through units for $30,800 and 1,771,400 non flow-through units for $177,140. The Company will keep to financing open until October 21, 2016 to raise up to $1 million on a best efforts basis.