Day: November 2, 2016

“We are very pleased with our financial performance during the quarter and fiscal year to date,” stated Interim CEO Mark Backens. “Our cash costs for the quarter of $785 per ounce and all-in sustaining cash costs of $846 per ounce were particularly strong and were both 23% lower than the comparable period of the previous year. Of significant note is the great improvement in our balance sheet with over $33 million of positive contribution over the first three quarters of this year during which our cash balance increased to $18.5 million from $9.2 million, our trade payables reduced by over $12.3 million to $14.5 million and we have repaid over $11.8 million in secured debt.

“Great Panther’s third quarter mine operating earnings, operating cash flow and net income all showed significant increases over the third quarter of 2015, reflecting improved metal prices and favourable foreign exchange rates,” stated Robert Archer, President and CEO. “In addition, we have seen a significant increase in operating cash flow on a year-to-date basis that, along with the completion of a $29.9 million bought deal financing in July, has contributed to a significant strengthening of our balance sheet. The Company also continues to be debt free.”

Gold Resource Corporation reported production results for the third quarter ended September 30, 2016 of 6,066 ounces of gold and 431,335 ounces of silver, which along with base metal revenue generated $21.4 million in net revenue and $1.6 million in net income for the quarter. 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.

Con el objetivo de fomentar la cultura del reciclaje y el respeto a las tradiciones de nuestro país entre los estudiantes de la ciudad y en el marco de la celebración de Día de Muertos, Minera Fresnillo PLC llevó a cabo el Primer Concurso de Catrinas y Catrines Reciclados en equipo con otras empresas e instituciones educativas.

“During the third quarter, we completed much of the heavy lifting required to set our ongoing optimization plan on the home stretch,” stated Brendan Cahill, President and Chief Executive Officer. “We completed all material development and prepared to accelerate finalization of the plan by resolving drilling issues and adding an additional rig. Increased development, both in respect of the optimization plan and to lower levels of the Rodilla Manto, was partially responsible for lower silver ounce production and an associated higher AISC per silver ounce payable. Over the next two quarters, however, we are focused on completing the remaining well drilling and pump installations, with the first primary booster station coming online in the next few weeks. Our financial position is strong, with ample funds available to complete the optimization plan and continue exploration as we pursue our goal of doubling production and more than halving costs at the highest grade silver mine in Mexico.”