Evrim Resources Corp. is pleased to announce that, further to its previous announcement on August 28, 2018, the Company has closed its private placement with Newmont Canada Corporation, a wholly owned subsidiary of Newmont Mining Corporation. A total of 4,848,401 shares of the Company were issued to Newmont at a price of $1.50 per share for gross proceeds of $7,272,601.50.
“During the second quarter we saw the beginning of the turnaround in our mining operations.” stated Carlos Silva, Chief Operating Officer of Santacruz. “Although the positive changes to our production volumes and operating costs were modest we firmly believe that we are now on the path to improved operating results at both Veta Grande and Rosario.” Mr. Silva continued, “With the mill expansion at Veta Grande completed and a better delineated mine plan on its way, our focus now is to improve underground stope production at both mines. Anticipated improvements include an increase to the grade of mineralized material being fed to both mills as well as higher metal recoveries which are expected to result in increased production and a lower unit cost of production.”
Riversides President and CEO, John-Mark Staude, stated: We are pleased to have partners and be taking steps ourselves in advancing our portfolio of high-quality precious and base metal projects toward unlocking the next big discovery in Mexico. We appreciate the support and contributions from our shareholders and diverse exploration team as we see many stock catalysts in the coming months including our particular excitement with the Cecilia Project and its news flow to come in early September.
Bradford Cooke, CEO of Endeavour Silver, commented, Our efforts to optimize the Terronera mine project have resulted in significantly improved operating parameters and financial returns for this high grade, district scale exploration and mining project. Multiple engineering trade-off studies and the incorporation of the very high grade La Luz vein Mineral Resources and Reserves into the 2018 PFS in particular helped to improve the outlook for Terronera compared to the 2017 PFS.
De acuerdo con el director de Asuntos Corporativos y Seguridad de la compañía, Michael Harvey, a través de la nueva planta de Lixiviación prevén elevar la extracción entre 120 y 150 mil onzas de oro por año, y un valor similar en plata.
Bradford Cooke, Endeavour CEO, commented, Enhanced cost discipline is the prudent course of action for mining companies during times of lower metal prices, especially when investing to develop new mines. This austerity program is our proactive response to the current low metal prices. Once metal prices recover, Endeavour Silver will be in a position to deliver more robust returns thanks to improved operational performance and a strong growth profile.
The Company and Contracuña have agreed to amend the terms of the Option Agreement to acquire 100% ownership of the Veta Grande Project, including the Veta Grande mine and milling facility as well as the Minillas property located in Zacatecas, Mexico.
With the newly found Yoreme veins, we have outlined a vein swarm of 12 prominent and separate veins within an overall corridor measuring 10 km long and 2.7 km wide at Alamos. stated Darrell Rader, President and CEO of Minaurum. The new claims not only triple the size of our holdings but also ensure that we control the strike of all known veins, greatly expanding the impressive untested exploration potential at Alamos.
The program is designed to test for gold and copper mineralization below historical workings along the “Alaska” vein which has a strike length of over one kilometer and is open at depth.
Goldplay President and CEO Marcio Fonseca commented, Goldplays systematic sampling of 22 existing core drill holes (previously only partially sampled) is confirming the upside potential for resource expansion, while delineating mineralized zones wide enough to support a high-grade bulk mineable open pit target at the San Marcial Project. The sampling program is progressing with pending results expected to lead to an updated resource estimation by the December quarter of 2018.
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