Day: May 2, 2018

Endeavour CEO Bradford Cooke commented: “Ever since Endeavour purchased its first mine in 2004, we have tried to do things the right way. Our corporate social integrity has not only been a key to the success of our business, it has created real value for all our stakeholders. Refining what we do and how we do it is both our goal and our process to improve our sustainability.”

The Company reported revenue of approximately $1.6 million in the first quarter 2018 related to the oxide plant lease and costs of approximately $0.5 million related to the services we provide under the terms of the lease, for a net margin of $1.1 million. Other operating income of $1.2 million included $1.0 million received from Electrum as consideration for permitting Electrum to earn an additional 20% interest in the Celaya project, $0.1 million related to a Value Added Tax credit utilized in Mexico, and $0.1 million related to the farm-out agreement with Santacruz Silver Mining regarding the Company’s Zacatecas Properties in Mexico.

Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) reports Q1 2018 gold production of 51,003 ounces at its Los Filos mine at AISC of $1,039/oz and resulting in an AISC margin1 of $14.5 million. Los Filos is on track to deliver the 2018 production guidance range of 215,000 to 240,000 oz at an AISC of $875/oz to $925/oz, as the annual mine plan sequence schedules lower production and higher AISC/oz costs in H1 2018 and higher gold production with lower AISC/oz costs in H2 2018. The Q1 2018 AISC of $1,039/oz was under budget for the period. In H2 2018, the mine plan includes higher grades and lower strip ratio, and operations are also expected to benefit from improved leach pad management which includes the agglomerator and overland conveyor extension.

“Great Panther’s revenues were up 38% reflecting the normal operation of the Topia processing plant compared to the first quarter of last year when it was suspended for planned upgrades”, stated Jim Bannantine, President and CEO. “We continue to focus our efforts on advancing the Coricancha project, and we expect to release an economic study before the end of this quarter. Our balance sheet remains strong and our cash position increased to just over $60 million as we continue to fund Coricancha from the cash flows from our operations in Mexico.”

Neil Woodyer, CEO, commented, “We are very pleased with the strong support from Leagold’s current lenders – Orion, Societe Generale and Investec – in providing an 18-month debt package that refinances the existing debt of Brio and increases our working capital. We are also pleased with Orion’s decision to maintain its equity ownership level in Leagold at approximately 16%, which is consistent with Orion’s participation rights, through the subscription of $45 million of equity at Leagold’s current market price. Later this year, and after the studies on the construction of a carbon-in-leach plant at the Los Filos mine are finalized, we expect to arrange a long-term and upsized financing structure with Societe Generale engaged as lead debt arranger. As part of the transaction, Investec has been mandated as Technical Agent for the lenders and will be working closely with Leagold as the studies are completed. Leagold’s growth projects include the Bermejal Underground expansion at the Los Filos mine, Brio’s restart of the Santa Luz mine, and the potential construction of a carbon-in-leach processing plant at the Los Filos mine that would enable higher recoveries for a wider range of ore types.”

Camrova Resources Inc. (TSX-V:CAV) (OTC:BAJFF) is pleased to provide an update on the status of the Company’s due diligence investigations regarding its previously announced proposed arm’s length acquisition of certain mining properties and related processing assets located in Chile.