Month: October 2018

“Our revenues for the third quarter of 2018 were down compared to the same quarter last year due primarily to lower metal prices, lower production levels, and a large shipment of concentrate which could not be shipped until just after the end of quarter cut-off”, stated Jim Bannantine, President and CEO. “These factors combined with higher cash costs at our Guanajuato Mine Complex in Mexico, higher corporate development costs, and the ramp up of Coricancha project costs, which we are expensing as opposed to capitalizing, accounted for a loss per share of $0.02 in the third quarter. Despite the current metal price environment, we are using our strong balance sheet to set a foundation for growth in 2019 by advancing our Coricancha project and advancing the close of the recently announced friendly acquisition of Beadell Resources Limited. These strategic initiatives represent transformational changes which will see Great Panther evolve into a leading emerging intermediate and growth-oriented Latin American focused precious metals producer.”

Marlin Gold Mining Ltd. is pleased to announce that at the special meeting of shareholders of the Company held on October 30, 2018, shareholders of Marlin voted in favour of a special resolution to approve the plan of arrangement and certain connected transactions, pursuant to which Golden Reign Resources Ltd. will acquire all of the issued and outstanding shares of Marlin in exchange for 0.5138 of a Golden Reign common share for each Marlin Share by way of a court-approved plan of arrangement .

Sailfish Royalty Corp. is pleased to announce that, at the annual and special meeting of shareholders of the Company held on October 30, 2018, shareholders of Sailfish voted in favor of the restructuring of the Company’s gold stream on the San Albino gold project. Shareholders also approved all of the other matters brought before the Meeting.

SilverCrest Metals Inc. is pleased to announce the appointment of Hannes Portmann to the Board of Directors replacing George Sanders, who is retiring from the Board. SilverCrest is also pleased to provide a brief update of ongoing activities at the Las Chispas project.

Bradford Cooke, Endeavour CEO, commented, “Our financial performance in Q3, 2018 was impacted by lower metal prices and higher depreciation and depletion charges, primarily at Guanacevi where production lagged behind plan. However, El Cubo production continued its strong performance during the quarter and Bolanitos gold grades are now improving after a slight drop in Q3, 2018.

Centerra Gold Inc. today reported net earnings of $6 million or $0.02 per common share on revenues of $259.1 million in the third quarter of 2018. The third quarter 2018 results include an impairment charge of $8.5 million to write-down the net assets of the Company’s Mongolian business unit to their sale value which closed on October 11, 2018. Excluding this item, adjusted earnings in the third quarter of 2018 were $14.5 million or $0.05 per common share.

Evrim Resources Corp. is pleased to announce it has signed a three-year exploration alliance agreement with Meridian Gold Co., a wholly-owned subsidiary of Yamana Gold Inc. The Alliance allows Evrim royalty free access to Yamana’s dataset in the western United States for gold and base metal project generation.