Month: May 2018

Fred Stanford, President & CEO of Torex stated: “The Torex team has been tested and strengthened by the challenges that we have managed in the past six months. With those challenges now behind us and with a strong Q1 as a foundation, our eyes are now lifted to the horizon and the opportunities ahead of us to create shareholder value. 2018 promises to be a catalyst rich year, with near term advances in throughput, SART plant start-up, Sub-Sill ramp-up, exploration results, in-fill results at Media Luna, an updated PEA for Media Luna, and advances in underground mining technology that we have been working on. We all look forward to getting on with delivering on these value creating opportunities.”

“Our priorities for 2018 are focused on the further optimization of the performance of the San Francisco Mine, advancing the Ana Paula project and undertaking a review on the opportunities to increase productivity at the Florida Canyon Mine following the expected close of the Rye Patch business combination on May 25, 2018” said Greg McCunn, Chief Executive Officer. “The addition of a second producing mine in Nevada will provide us with increased diversification and is expected to enhance our capital markets profile and appeal to a broader investor base.”

Primero Mining Corp. (TSX:P) today announced that First Majestic Silver Corp. (TSX:FR) (NYSE:AG) (Frankfurt:FMV) has received antitrust clearance from the Comisión Federal de Competencia Económica, which is the final government agency approval required before closing of the previously announced arrangement. Primero anticipates closing of the arrangement on May 10, 2018.

The net proceeds of the Offering will be used by the Company to undertake a comprehensive geological, diamond drill and engineering assessment program on the Company’s Manto Negro Copper Project located in Coahuila State, Mexico with a goal of publishing a 43-101 compliant mineral resource, initial project assessment and permitting for the ultimate project execution and production phase and for general working capital purposes.

The Company produced a total of 30,550 ounces of gold and 59,826 ounces of silver during Q1 2018 compared to 50,979 ounces of gold and 98,382 ounces of silver during Q1 2017.

The proceeds of the private placement will be used by Minaurum for its ongoing exploration program at the Alamos Silver project in Sonora State, Mexico, as well as for working capital purposes.

Almadex Minerals Limited (TSX-V:AMZ); (OTCQX:AXDDF) is pleased to announce that shareholders at its Special Meeting of shareholders held today in Vancouver have voted 99.97% in favour of a special resolution approving a statutory plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) to spin-out Almadex’s early stage exploration projects, royalty interests, and certain other assets into 1154229 B.C. Ltd. (“Spinco”) as described in Almadex’s management information circular dated April 6, 2018.