First Majestic Silver Corp. (TSX:FR) (NYSE:AG) (Frankfurt:FMV) and Primero Mining Corp. (TSX:P) have entered into a definitive arrangement agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero.
We wish to clarify that the term cash flow as used in the Production News Release is the cash receipts for concentrates delivered to the buyer of such concentrates. It is cash receipts and does not include cash payments for goods, services or payments to or on behalf of employees or any expenditures associated with the costs of production. The costs of production are calculated at month end. As stated in the Production News Release, in April 2018, Telson generated cash from the sales of concentrates of US$5.2M with costs of production of US$3.5M for net cash of US$1.7M. For the first 15 days of May (ending on the date of the commencement of commercial production) Telson generated cash receipts from the sales of concentrates of US$2.5M, however has not determined the costs of production for that interim period.
Minera Alamos Inc. (TSX VENTURE:MAI, OTCQB:MAIFF) announces that FINRA has approved a change in the Company’s stock symbol trading on the OTC Markets. The Company’s common shares now trade on the OTCQB under the symbol MAIFF. The previous trading symbol was VGMTF.
Brian Robertson, President & CEO, commented, Being DTC eligible builds on our continuing efforts to improve access to institutional and retail investors. We are confident that DTC eligibility will significantly enhance liquidity for our US shareholders.”
Bill Murray, the Chairman of Prospero commented: “With the closing of our private placement and the Fortuna warrant exercise, we will have received close to $1.9m in cash to continue first-pass drilling of three of our projects and other value added work to our existing project portfolio, and on-going marketing of the Company. We’ve got a busy drill schedule planned with Fortuna for 2018 and I’m looking forward to reporting on our drill results from Buenavista later this summer.”
José Antonio Berlanga, Director and CEO, states: “Achieving commercial production at Campo Morado is a major milestone for Telson. When we commenced pre-production activities in October 2017, we provided guidance that we expected to declare commercial production in Q3, 2018. To do so mid Q2, a full 3 months ahead of schedule, is a testament to the tremendous skill and expertise of our mining team and the hard work of our employees….
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