Month: February 2017

“I am very proud to announce that 2016 delivered Gold Resource Corporation’s sixth consecutive year of profitability, four years of which were in a difficult bear market,” stated Gold Resource Corporation CEO and President, Mr. Jason Reid. “Our Company posted annual net income of $4.4 million or $0.08 per share, returned $1.7 million back to our shareholders through dividends, and continued to invest in the Company’s future growth in both Mexico and Nevada while adding cash from operations to our bank account. Our numerous successes during 2016 were accomplished without raising money, without diluting shareholders through equity sales and without going into debt.

FIRST MAJESTIC SILVER CORP. is pleased to announce the promotion of Dustin VanDoorselaere, previously Vice President of Operations, to the role of Chief Operating Officer (COO) beginning March 1, 2017. Mr. VanDoorselaere, an experienced mining engineer, will be responsible for overseeing all operational functions at each of the Company’s six operating silver mines in Mexico.

Golden Minerals Company has today announced financial results for the full year ending December 31, 2016.

Santacruz Silver Mining Ltd. announces that its subsidiary, Impulsora Minera Santacruz S.A. de C.V., has renegotiated the terms of its agreement with Minera Hochschild Mexico S.A. de C.V. regarding the acquisition of a 100% interest in the San Felipe property and adjacent El Gachi property located near Hermosillo, Sonora, Mexico.

“Improved metal prices, combined with a 20% reduction in our all-in sustaining costs to $10.99, resulted in Great Panther delivering a 404% increase in mine operating earnings in 2016,” stated Robert Archer, President & CEO. “Significantly improved operating cash flow, combined with the proceeds of financings completed in 2016, enabled us to end the year with $67 million in net working capital, no debt, and positions us well to capitalize on growth opportunities such as the recently signed Coricancha acquisition.”

Galore Resources Inc. is pleased to announce the engagement of Mr. Craig Byington of Clancy, Montana to act as Galore’s Vice President of Exploration and QP, and Mr. Octavio Gonzales as Regional Exploration Manager, Mexico.

Gold Resource Corporation declares its monthly instituted dividend of 1/6 of a cent per common share for February 2017 payable on March 23, 2017 to shareholders of record as of March 13, 2017. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

“We are taking the decisive action necessary in order to address the challenges currently faced by our Company,” said Joseph F. Conway, Interim President and Chief Executive Officer. “Securing the three year term debt facility with Sprott is a critical part of that. The priority now is to bring our Company back to profitability by reducing complexity, improving planning and delivering positive operating results at both of our mines. This has been a difficult period for the Company and for our shareholders. I am personally committed to leading Primero until we have returned the Company to profitability and financial stability.”

Geologix Explorations Inc. is pleased to announce that the Preliminary Economic Assessment on its 100% owned Tepal Gold/Copper Project located in southwest Mexico has been filed on SEDAR. The PEA results were previously disclosed in the Company’s news release dated January 19, 2017.