Further to its September 22, 2016 news release, Cyprium Mining Corporation is pleased to announce that it has applied with the TSX Venture Exchange to delist $750,000 in principal amount of unsecured debentures bearing interest at 12% per annum.
On many important fronts, 2016 was a good year for McEwen Mining. We generated significantly higher cash flow and earnings per share despite producing 6% fewer ounces. We grew our treasury by 84% without resorting to equity financing, or sale of metal streams, or royalties, or taking on debt. Looking forward into 2017, our next chapter of growth begins. Pending government approval we are ready to start construction in Nevada at our Gold Bar deposit late this year. In Mexico, we are reconfiguring our El Gallo Silver project to improve its economics. In addition, we are testing new exploration targets. In Argentina, our Los Azules project is getting more attention as a result of the improving copper price. Finally, when completed our proposed friendly acquisition of Lexam VG Gold will enhance our development and production pipeline with several high grade gold projects in Timmins, Canada, one of the worlds largest gold districts, said Rob McEwen, Chairman and Chief Owner.
Akiba Leisman, Executive Chairman and Interim CEO states that, “due to the record cash flow La Trinidad has generated from the over 30,000 ounces of gold sold in the last 4 months, we have excess cash to repay debt, invest in high return projects like our exploration programs at Commonwealth and La Trinidad, and buy our stock back at a fraction of fair value.”
Alta Vista Ventures Ltd. announces that it has received subscription agreements for a total of $253,500 or for 5,070,000 units at a price of $0.05 per Unit and has closed tranche one of its ongoing financing, subject to filings with the Canadian Securities Exchange. Alta Vista is undertaking a non-brokered private placement of up to 10,000,000 units at a price of $0.05 per unit to raise total proceeds of up to $500,000.
Over the past year, we have been able to establish constructive working relationships with the members of the local community. The finalization of this agreement marks a major milestone in the development of the La Fortuna project and we look forward to a mutually beneficial relationship with the local stakeholders, said Darren Koningen, President of Minera Alamos.
Hombres armados se apoderaron de un camión con plata de la mina El Pilón, ubicada en el municipio serrano de San Martín de Bolaños, reportó ayer la Fiscalía de Jalisco.
Marlin Gold Mining Ltd. is pleased to report assay results from the first set of holes on the north side of the pit wall at the Company’s wholly owned La Trinidad mine in Sinaloa, Mexico
Camino Minerals Corporation is pleased to announce that Mr. Olav Langelaar has joined the Board of Directors of Camino.
Silver Ones President and CEO, Greg Crowe, stated: The geochemical results at Peñasco Quemado are very encouraging as they put in perspective a much larger upside potential to the property than was previously understood. These two standout exploration targets defined by highly anomalous zinc, lead, barium and manganese values not only extend the prospective strike length of the mineralized system from the 450 meters associated with the Historic Resource to over 3,000 meters, but the association with strongly elevated zinc and lead values suggests the possible presence of other buried zinc and lead +/- silver bearing mineralized systems at depth This geochemical signature bears strong similarities to the silver-manganese oxide and deeper zinc-lead-silver sulphide deposits currently being successfully evaluated by Arizona Mines at their Hermosa and Taylor projects in Arizona. Further exploration is clearly warranted.
“I am very pleased to report that Avino continued to deliver strong financial and operating results in 2016, with consistent silver equivalent production and solid performance from our Avino and San Gonzalo mines, our cornerstone assets from which to grow the company from. We continue to meet management’s expectations, and with stringent cost controls we exited the year with strong fundamentals in place. Our steady results are due to the dedication of our teams in both Canada and Mexico. Our focus for 2017 remains consistent operating results and moving forward with our plans for plant and mine expansion to increase throughput capacity at the processing plant by an estimated 70%, the advancement of the Oxide Tailings Resource project, continued construction and consideration of new initiatives regarding tailings storage, and the previously announced three-phased expansion program at Bralorne.”
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