Month: May 2017

GoGold Resources Inc. is pleased to announce the release of financial results for the quarter ending March 31, 2017. GoGold recorded revenue of $7.1 million from the sale of 413,073 silver equivalent ounces with a cash cost per silver equivalent ounce of $9.80 and an operating income of $1.8 million for the quarter (All amounts are in U.S. dollars).

Commenting on the Company’s performance, Chief Executive Officer, Greg McCunn, said, “The first quarter of 2017 was a strong quarter in which the San Francisco mine exceeded production guidance by a significant margin. The continued focus on maintaining our cost structure has resulted in another strong quarter of cash flow generation which more than funded the Company’s development expenditures at our high-grade, highmargin Ana Paula project and continued to allow us to build cash on the balance sheet. With our revitalization plan now complete, we expect to start executing the plan in the second half of this year which will allow the mine to continue to perform at these levels out until at least 2023.”

“On the mineral side of our company, we’re continuing to solidify plans to take the ‘Don Diego’ deposit to the next phase, which requires approval from the authorities in Mexico. An administrative, legal and political/educational process has been underway to achieve this goal. Based on advice from our Mexican legal counsel, we expect the legal process to conclude in 2017. We are also developing new projects and opportunities to grow our offshore mineral portfolio and activities.

“The first quarter showed major improvements in both our cash flow and net loss compared to the previous year and quarter despite being our expected lowest production quarter of the year,” said Americas Silver Corporation President and CEO Darren Blasutti. “We expect to build on these positive results further through the second quarter with our operational challenges at Galena behind us, and in the latter half of the year as San Rafael begins production. With zinc and lead prices continuing to be strong, the mine will bring a step change reduction in our company-wide all-in costs in the fourth quarter.”

MEXICAN GOLD CORP. is pleased to announce that further to its news release dated September 28, 2016, the Company has issued an aggregate of 1,052,129 common shares at a deemed price of $0.31 per Common Share and an aggregate of 611,000 Common Shares at a deemed price of $0.25 per Common Share to certain of its officers and/or directors in settlement of outstanding debt in the aggregate amount of $478,910.22 as summarized below.

Argonaut Gold Inc. is pleased to announce the results of its annual meeting of shareholders held May 10, 2017.

Tawn Albinson, the President of Prospero commented: “With today’s closing, we now have the funding to drill test 3 key projects in our portfolio — Matorral, Petate, and Pachuca SE- and we’ll be advancing the projects as promptly as possible. In anticipation of this deal closing, we have expedited permitting work on four projects. We will begin drilling at Matorral first, and we hope to award the drill contract in the next few weeks. I’d like to thank our new strategic partner, Fortuna Silver, for backing us and I’m looking forward to working with their exploration team in the coming 18 months.”

“We are pleased to commence reporting in USD, which will better reflect the Company’s business activities and will, therefore, improve investors’ ability to compare the Company’s financial results with other publicly traded mining companies. Our Q1 results reflect improvements in revenues, operating income, and net income. We remain focused on our objectives which include our expansion plans announced in January that are progressing very well, and we are confident that the implementation of these important plans will continue to support the company’s growth efforts. We experienced lower production and development numbers in the first quarter compared to the same period last year, except gold production, which increased by 23%. While the results are lower, due to lower grade material being mined, we are confident that the company will achieve another solid year. Our team continually looks to improve efficiencies, and we are very appreciative of their support and dedication. Other key achievements for the quarter included the commencement of the work required for the expansion of Mill Circuit #4, the receipt of a positive Preliminary Economic Assessment of the Oxide Tailings at the Avino mine, and a review of possible alternatives to the Tailings Storage Facility.”