Month: November 2018

George Paspalas, President and CEO, commented, “We continue to enjoy watching the consistent advancement of the Juanicipio project. I encourage our shareholders to visit our website to view pictures of the ongoing development. The current drill program to flesh out the Valdecañas Deep Zone has been completed and we are starting to work through the results. As always, the joint venture continues to focus on exploring the balance of the property where many highly prospective targets still remain to be drilled. It is worth remembering that the joint venture has only worked on a very small area of the property.”

Igor Gonzales, President, and CEO of Sierra Metals stated: “I am very pleased with the Company’s performance during Q3 2018. Despite weaker realized metal prices, and harsh weather events at the Bolivar Mine, the Company generated positive cash flow at its three operating mines of $18 million, and our production results were solid. We continue building upon the strong results from the first half of the year. The Company also realized positive returns on our capital investments and our operational improvement efforts at all our Mines. This is best demonstrated through our improving operating performance, strengthening of our asset base, significantly lower cash costs and all-in sustaining costs, strong cash flow year to date as well as increases to the mineral reserves and resources at each of our Mines.”

SilverCrest Metals Inc. announces the grant of stock options under its Stock Option Plan to purchase an aggregate of 100,000 common shares of the Company at an exercise price of $3.41 per share for a five-year term expiring November 11, 2023. The stock options were granted to the Company’s newly appointed director, Hannes Portmann, and are subject to necessary regulatory approvals.

“As a result of the Arrangement, shareholders of Mako Mining will benefit from the producing La Trinidad Gold Mine in Mexico, cash in the bank and no debt, and an unencumbered, fully permitted, high grade gold development asset in Northern Nicaragua” stated Kevin Bullock, CEO of Mako Mining. He went on to say “having now amended the previous Gold Purchase Agreement with Sailfish, Mako Mining shareholders will also benefit from building a fully permitted, unencumbered asset with security and provisions commensurate with a standard, third-party NSR agreement.”

Jorge A. Ganoza, President and CEO, commented, “We have delivered a solid quarter in spite of a 12% and 5% decrease in silver and gold prices, respectively, in the third quarter, with earnings per share of $0.04, EBITDA of $24.2 million, and free cash flow, excluding Lindero construction costs, of $13.6 million.” Mr. Ganoza concluded, “The rate of spending at Lindero continues to increase as construction activities accelerate towards year end. It is estimated that a total of between $110 million to $130 million will be spent in 2018. Construction activities are progressing according to the project´s schedule with commercial production planned for the end of the third quarter of 2019.”

Paul Benson, President and CEO said, “Our improved financial performance during the quarter marks another positive step forward in SSR Mining’s growth plan. We more than doubled operating cash flow and increased attributable earnings compared to last quarter, having set new operating records at Marigold and Seabee, and achieved key milestones at Chinchillas. This added confidence in the business led to improved 2018 guidance, as we deliver another year of value and growth for our shareholders.”

Pete Dougherty, President and CEO stated: “We achieved a significant milestone during the quarter in which we produced our millionth gold equivalent ounce, showcasing our commitment to sustainable and profitable mining since launching Argonaut Gold at the end of 2009.”