“Our mines performed as expected in the third quarter and we have seen an upward trend in production as we move through 2018,” said Darren Pylot, President and CEO of Capstone. “Year to date, we have generated $76.9 million of cash flow from operating activities and net income from continuing operations of $22.6 million.”
McEwen Mining Inc. today reported third quarter results for the period ended Sept. 30, 2018. During Q3, gold equivalent ounces produced increased by 51% and all-in sustaining costs per GEO sold decreased by 3% compared to Q3 2017. Net cash flow from the business excluding project development costs was $2.2 million or $0.01 per share. Total expenditure of $35.5 million was incurred to further our long-term production growth plans at the Gold Bar, Black Fox, Fenix and Los Azules projects. Our consolidated net loss for Q3 was $13.3 million or $0.04 per share.
Gold Resource Corporation reported production results for the third quarter ended September 30, 2018 of 6,411 ounces of gold and 321,590 ounces of silver, which along with base metal revenue generated $24.3 million in net revenue for the quarter.
Colibri Chief Operating Officer Ian McGavney said “There is limited downside risk for the shareholders in this proposed transaction. The deal structure allows Colibri to secure these properties for the next 5 years using little cash resources which allows monies to be used for exploration activities. We see the conversion price of the convertible debenture as very positive considering the current share price level.”
We experienced very strong demand for the Financing and are pleased that our investors are very supportive of our focus on the exploration programs in Mexico, said Kenneth MacLeod, President and CEO of Sonoro. Proceeds from the Financing will be applied toward future exploration programs at Cerro Caliche should results from the recently initiated drilling program support such an action.
Rodrigo Barbosa, the Companys President and CEO commented, We were committed to a peaceful resolution of this matter and we are very pleased a resolution was reached in a respectful and peaceful manner. We are cautiously optimistic that all parties will abide by the terms negotiated and that operations at the San Andres mine will continue uninterrupted by further invasions. We are grateful to the local communities that supported us in reaching this resolution and are pleased that the hundreds of direct jobs and thousands of indirect jobs will return now that we are back operating.
Goldplay President and CEO Marcio Fonseca commented, Our systematic sampling of available core (not previously sampled) has confirmed much wider and continuous mineralization than previous geological modelling.”
Were excited to start working on the Evolución concession, which is the product of extensive preparation over the past year, stated Ben Pullinger, SVP Geology. Looking under cover for blind deposits is the evolution of exploration in Mexico, with Heclas San Sebastian deposit illustrating this potential just north of us. We will shortly commence a regional mapping and geochemical program to develop exploration zones and drill targets.
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