The net proceeds of the Private Placement will be used to fund the exploration and development of the Companys La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.
Leagold CEO Neil Woodyer stated: On closing of the acquisition last spring, we immediately launched an aggressive drill program to unlock the potential of the Bermejal Underground deposit. The exploration team has done a great job completing this important program on schedule and working with our consultants to produce updated resource estimates that doubled our Measured and Indicated resources. Todays results are consistent with what we have encountered throughout the drill program to date, and several areas of high-grade mineralization have been defined. We continue development of the underground ramp which has now advanced to 281 metres, and expect to have access to a test mining area by mid year. The expansion of the resource and development of the project are delivering value to our shareholders.
MX Gold Corp is pleased to announce, further to its news release dated November 13, 2017, the delivery of 360 AvalonMiner 741 cryptocurrency mining systems (each, a Mining Rig), purchased from Canaan Creative Co. The purchase of the Mining Rigs equips the Company with a fleet of state of the art, digital currency extraction hardware. Each Mining Rig contains 88 x A3212 16 nm ASIC chips and boasts an in field Reliable Hashrate Per Second (RTHS) of up to 7.8. The Mining Rigs are housed in high-grade aluminum cases and employ innovative Airforming Cooling Technology, allowing more efficient heat dissipation. Coupled with access to contracted low-cost energy sources, the Company expects that the Mining Rigs set up will result in a competitive digital currency extraction environment.
President, Lawrence Page Q.C. stated Since acquisition in September 2010, CLM continues to develop Mineral Resources with great potential to become a significant economic deposit. Exploration since 2016 has resulted in a 318 percent increase in Indicated Resources and an 18 percent increase in Inferred Resources, largely through the delineation of the new Skarn Front deposit which significantly remains open in several directions. We are confident that additional exploratory drilling during 2018 will continue adding great value to the present Resource.
Scott Perry, President and CEO of Centerra said, “With the completion of the acquisition of AuRico Metals, we have expanded our existing development pipeline to include a de-risked brownfield development asset, located in Canada, as well, we are adding a high-quality, free-cash flow generating royalty portfolio. The Kemess property has the potential to be a low-cost, long life, significant gold and copper producer.”
CEO Paul Thompson stated, I want our shareholders to understand that Mexus is moving forward with its plan become a major miner. The end game is to have multiple properties producing metals in the next few years. MarMar is well in control of the Santa Elena project which affords us the ability to move forward on our other projects. The coming months will be an exciting time for our shareholders as we announce new developments and plans on multiple properties.
Riversides President and CEO, John-Mark Staude, stated: We are in a very strong position for company growth and success in 2018 with a promising line up of early 2018 drill results and partnership deals to come. The 100% permitted assets provide immediate and strong growth for Riverside and we are in a great position heading into the New Year with a tight share structure and new discovery potential at multiple projects. We appreciate our strong shareholder base and their continued support and our team looks forward to a productive year ahead.
CEO John Lawrence said We are excited about the commencement of construction of the pilot leach plant for Los Juarez. Additionally, the Company added 30 new customers for the BRZ zeolite, and we expect to see sales grow during 2018. In the near future, we expect to announce our progress on several additional strategic and financial opportunities presented to the Company that do not involve dilution of any kind.
Coeur Mining, Inc. today announced record fourth quarter silver equivalent production of 11.7 million ounces, consisting of 4.5 million ounces of silver and 119,114 ounces of gold. Silver equivalent production increased 23% quarter-over-quarter and 17% year-over-year. Silver production increased 15% quarter-over-quarter and 17% year-over-year, while gold production increased 28% and 16%.
David Wolfin, President and CEO of the Company commented, We are very pleased to announce this significant achievement for Avino that confirms our development and growth as a company. The TSX is Canadas most senior stock exchange and we anticipate that this move will provide Avino with greater visibility in the marketplace and access to a broader and more diverse range of international and institutional investors.
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