Month: November 2018

Chief Executive Martin Rosser said: “The technology described in the patent has significant potential application in each of Germany, Poland and Turkey, both for sulphide deposits and for converting sulphide concentrates, the source of the majority of the world’s base metals production and resources, through to metal at the mine site.”

Loss for the Company was $3.7 million, or $(0.04) per share, compared to net earnings of $5.2 million, or $0.12 per share, during Q3 2017. The decrease was primarily a result of lower earnings from operations and an impairment of the El Sauzal plant.

“This was an excellent quarter with record gold production of over 100,000 ounces as the Company successfully continues toward full ramp-up. Grades processed were above LOM average, recoveries above design, and plant throughput is ramping toward design levels by year end. In October, throughput averaged above 13,300 t/d, inclusive of two maintenance days to replace the liners in the ball mill.

Capstone Mining Corp. today made reductions to its organizational structure, including changes to its senior executive team. This is designed to improve financial and operating performance by further empowering mine general managers and their teams to deliver profitable, safe and sustainable production within their respective business units.

“Our strategy is working. The EBITDA we generated despite low metals prices is a result of the improvements we made in our mines. A case in point is Casa Berardi, which is generating strong cash flow, with lower costs, higher mine throughput and an extended mine life,” said Phillips S. Baker, Jr., President and CEO. “The Nevada operations are on the same path as Casa Berardi and Greens Creek, with the development and processes which should increase throughput and make the mines more efficient. In the meantime, the higher costs in Nevada are short-term and a function of electing to produce less to avoid sterilizing newly discovered mineralization.”

Mr. Carlos Silva, Chief Operating Officer, stated “I am pleased to report that we are on track to reach our objective of increasing production and efficiencies at Veta Grande as indicated by our quarter over quarter results. At the same time our exploration activities are delineating a solid path forward for the development of Veta Grande into a significant silver producer. As for the Rosario Project, development work at the Membrillo Prospect is well on its way to reach the targeted mineralized area and preparation of production stopes is underway with the aim of being in full production in Q4 2018 as originally planned.”

Business Wire requests that NewsItemId: 20181107005676, Tamino Minerals, Inc. press release entitled “Tamino Minerals Starts Exploration Program and Financing Update” be killed.

“During the third quarter of this year, the Company continued with the commissioning of Mill Circuit 4, which represents a significant commitment to future expansion in Mexico. While our financial results were impacted due to a lower metal price environment, we feel that the Company is well-positioned for the future. In view of the current environment, our focus for Q3 2018 and moving into Q4 2018 has shifted from increasing production, to preserving our operating margins, through previously-announced cost-reduction programs” said David Wolfin, President and CEO. “Our focus moving forward will be to maintain stable operations which will include a temporary reduction of development at the Avino Mine (Elena Tolosa area) which means that the mining rate will decrease, however the mill production will be stable for the rest of the quarter. In the meantime, we will continue to optimize operations and evaluate other areas of the vast Avino property.”