Advance Gold Corp. is pleased to announce that it has closed its previously announced non-brokered private placement financing. The Company has issued 4,682,000 Units, each Unit consisting of 1 common share and 1 common share purchase warrant, each warrant being exercisable at $0.07 for 24 months, for gross proceeds of $234,100.
Tom Obradovich, President and CEO, stated, ‘We are excited to be close to the initial drilling at Vinata. The Vinata target was discovered as a result of a large regional geochemical survey that lead to the discovery of an upper level epithermal vein system located close to the world class CRD deposits of Santa Eulalia and Naica and to the new large vein Ag-Zn-Pb discovery of Los Gatos. This is a real boots and hammer discovery that characterized our systematic exploration approach and the generation of new high-quality targets.’
Bradford Cooke, Endeavour CEO, commented, ‘After a challenging first quarter, we initiated multiple measures in the second quarter to improve the operating and financial performance at each mine. As a result, we saw increases in mine and plant throughput, silver and gold grades and recoveries at El Compas and both grades and recoveries at Guanacevi. We expect tonnes and grades at Guanacevi and grades at El Compas to continue to rise towards plan in Q3. El Cubos operating performance was in line with plan in Q2 and the mine is expected to continue on target in Q3. Bolanitos operated well below plan in Q2 however the measures implemented there should have a positive impact on its operating performance in H2, 2019.’
Torex Gold Resources Inc. reports Q2 2019 gold production of 113,600 ounces, approximately 12% higher than the previous quarterly production record set in Q3 2018. During the second quarter, 113,400 ounces of gold was sold at an average realized price of $1,313 per ounce, resulting in H1 2019 gold sales of over 189,800 ounces at an average realized price of $1,309 per ounce.
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