Evrim Resources Corp. announced that its board of directors and the TSX Venture Exchange has approved a new fixed incentive stock option plan. Upon adoption of the Fixed Plan the Company cancelled its long-term cash bonus plan.
Fred Stanford, President & CEO of Torex stated: The current blockade situation overshadows the many successes that the team has accomplished in 2017. These include, ramping up the plant to 90% of design throughput. Achieving design recoveries. Building the SART plant and installing additional tailings filtration capacity. Developing into the Sub-Sill deposit and producing the first development ore in less than a year from the discovery hole. Advancing the Media Luna design, successfully concluding negotiations for long term Media Luna land leases, and beginning the in-fill drill program for Media Luna. On the financial side the project finance debt was renegotiated with improved terms and flexibility for future growth. While it is impossible to be definitive, we expect the blockade to be resolved in the near term and we can then continue to build on the successes of 2017, as we transition into what should be a catalyst rich, and steady state 2018.
The Company intends to use the net proceeds of the Offering to fund exploration at the Companys Platosa Project in Durango, Mexico and Miguel Auza Project in Zacatecas, Mexico and for general corporate purposes. For additional details regarding the use of proceeds of the Offering, please see the Company’s short form prospectus dated November 2, 2017 that is available under the Corporation’s profile on SEDAR at www.sedar.com.
Acquisition of the SDA Mill will transform Magellan into a production company and will be an exciting development for our shareholders, stated CEO Pierce Carson. With production started already under the interim processing agreement, we have begun to execute on our strategy to resume processing operations, build production and increase cash flow.
Millrock Resources Inc. is pleased to report that the first phase of surface exploration on the La Navidad gold project is near completion, and a drilling program has begun. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits. Highlights of a rock sampling program include:
Mr. Vizquerra is currently the Executive Vice President of Strategic Development and a Director at Osisko Mining Inc. Previously, Mr. Vizquerra served as the President & CEO of Oban Mining Corp., where he led the successful change of business strategy that resulted in Oban’s acquisition of Corona Gold, Eagle Hill Exploration Corp. and Ryan Gold to form what is now Osisko Mining. Mr. Vizquerra previously worked as Head of Business Development for Compania de Minas Buenaventura, prior to which he worked as a production and exploration geologist at the Red Lake gold mine. He is currently a board member of Alio Gold Inc. Mr. Vizquerra holds a M.Sc. from Queens University in MINEX, and is a Qualified Person (AIGP).
Income of $4,594 or $0.14 per share for the three months ended September 30, 2017 compared to income of $734 or $0.03 per share for the third quarter of 2016. Gold production for the third quarter of 2017 was 2% higher than the comparable period of 2016.
Matthew Idiens, CEO commented As we near completion of the disposal, we are encouraged by the commitment shown by both parties with the interim milling agreement, allowing for operations to recommence at the SDA mill and Magellan taking on a fully operational business at completion. We look forward to updating the market shortly on progress.
Thomas Atkins, President and CEO of Mammoth commented on the Private Placement stating: “We’re all set to drill. Mammoth’s VP Exploration, Richard Simpson was on site last week with the drill contractor finalizing logistics. Drill equipment will be mobilized shortly and it’s expected we should be able to commence drilling within a week of equipment and personnel arriving on site.
Candente Gold Corp. is pleased to announce that it has entered into a binding letter agreement with Sun River Gold Corp., a private Nevada corporation, to grant Sun River the right and option to further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico through Candente Gold’s Mexican subsidiary, CCM EL Oro Jales, S.A. de C.V., according to the agreement CCM EL Oro Jales executed with the Municipality of El Oro, subject to receipt of regulatory approval.
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