Month: January 2017

Bacanora Minerals Ltd’s non-executive director, Kiran Morzaria, has stepped down from his position with immediate effect to pursue other business interests.

Alamos Gold Inc. today announced that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and Macquarie Capital Markets Canada Ltd., pursuant to which they have agreed to purchase, on a bought deal basis, 31,450,000 common shares of the Company at a price of US$7.95 per common share, for aggregate gross proceeds to the Company of approximately US$250 million. The underwriters will also have the option, exercisable in whole or in part, at any time up to 30 days following the closing of the Offering, to purchase up to an additional 4,717,500 common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to the Company will be approximately US$288 million.

Marlin Gold Mining Ltd. is pleased to announce that due to record free cash flow generated from its wholly owned La Trinidad mine in Sinaloa, Mexico, the Company has repaid US$5.5 million of principal one year early from its unsecured facility to affiliates of Wexford Capital LP, Marlin’s controlling shareholder.

“Me complace informar que Fresnillo plc ha logrado una producción récord en 2016, habiendo producido 50.3 millones de onzas de plata y 935 mil de oro. El exitoso incremento de San Julián (fase I) fue la razón principal del aumento de 7 por ciento en la producción anual de plata, aunque los mayores grados de plata en Ciénega y Fresnillo también contribuyeron al aumento de la producción”, destacó el CEO.

Bradford Cooke, Endeavour CEO, commented, “We expect 2017 to be a transformative year for Endeavour as our attention turns to growth. The emergence of our exciting new Terronera discovery and the acquisition of two attractive projects last year, El Compas and Parral, have positioned us for significant growth over the next three years which we think could coincide with rising precious metal prices. We believe now is the right time to invest for the future across our portfolio.”

Candente Gold Corp. is pleased to report that it has entered into a Purchase and Sale Agreement pursuant to which it will acquire the remaining 30% interest in the El Oro Project in Mexico from Desarrollos Mineros San Luis, S.A. de C.V., a subsidiary of Goldcorp Inc. Upon closing of the acquisition of the Transferred Interest, the Company will hold 100% interest in the El Oro Project as it had previously earned a 70% interest in the El Oro Project from Goldcorp.

Fortuna Silver Mines Inc. announces that it has entered into an agreement with a syndicate of underwriters, co-led by Raymond James Ltd., BMO Capital Markets and Scotia Capital Inc., pursuant to which the Underwriters have agreed to buy on a bought deal basis, 10,325,000 common shares of the Company at a price of US$6.30 per Common Share, for total gross proceeds of approximately US$65.0 million. The Company has also granted to the Underwriters an over-allotment option to purchase up to 1,548,750 additional Common Shares. The Over-Allotment Option will be exercisable for a period of 30 days following closing of the Offering.

Firma Holdings Corp., through its subsidiary GracePoint Mining Corp., announces that, further to its news release dated October 25, 2016, MX Gold Corp. has paid all remaining installments, totaling $2.5 million USD, and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico.