The securities of Consolidated Zinc Limited will be placed in trading halt at the request of CZL, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 26 March 2019 or when the announcement is released to the market.
The Company advises that a local rancher with which CZL has a Land Use Agreement commenced legal proceedings against the Companys Mexican subsidiary that owns the Plomosas Mine, Minera Latin American Zinc S.A.P.I. de C.V. and Retec Guaru SA de CV to terminate the Agreement. The rancher has claimed MLAZ failed to provide notification of assignment the Agreement transferring from Retec to MLAZ and for failure to pay the land use rental charges.
I am particularly pleased for VVC to be able to share this Resource Estimate with investors. The 2019 Resource Estimate highlights the continued progress of the Company toward the stated goal of Pilot Mining. There are numerous additional steps necessary before pilot mining can occur to be covered in future news release, but this Resource Estimate, more than any other communication by the Company, will provide shareholders with an understanding of the significant potential of the Samalayuca Copper Property,VVC Chairman, Terrence Martell.
We are very excited to have a second access at the Mirador and that mine development finally intercepted this wide, high-grade vein, stated Mr. Jason Reid, President and CEO of Gold Resource . To cut a face with ruby silver grading close to a kilo over six meters is exciting. Feeding that ore now to the mill is even better. A small portion of our Oaxaca Mining Units 2019 silver production is targeted from the Mirador Mine; however, if these grades and vein widths remain for an extended period of time, the Mirador Mine could play a larger role in our 2019 production results.
Fred Davidson, President & CEO of IMPACT stated, “We look forward to commencing a solid relationship with Samsung, one of the most recognizable brands in the electronics and consumer products world, and providing ethically sourced silver-lead-zinc concentrate which will go into the hands of millions of customers and end-products around the globe.”
Hole 22 exhibits our best zinc and lead values to date. commented Ruben Padilla, Vice President of Exploration for Sable. We are very happy to have identified a new vein in the hanging wall of the margarita structure with this hole.
Riversides President and CEO, John-Mark Staude, stated: The Sandy Project was a project the Company staked over a prospective area known to us from our past work in Sonora. We are pleased with the results from our first pass on the Sandy Project. Gold appears associated with large structures, intrusions and is an exciting potential step in the geologic deposit modeling for Sonora. We plan to follow up these positive results with some mapping and more sampling in 2019.
We made good operational improvements at Platosa during 2018, though lower metal prices and higher electricity prices during the second half of the year were a significant headwind on the business, stated Brendan Cahill, President and CEO. During 2019, we intend to continue increasing productivity and focusing on cost reduction by accessing lower electricity rates through the private market and improving our milling operation. During Q4, electricity accounted for 38% of our operating cost lowering this input is an important opportunity. In this metal price and cost environment, we simply must do better.
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