Month: July 2019

Mexus Gold US is pleased to inform its shareholders that on July 18th the company satisfied a $105,000 loan commitment on time. In addition, the company announced that the 2500 ton leach pad at its Santa Elena mine is returning solution to the holding pond. Mexus has pumped 500 M3 of solution to the heap pad with 500 PPM NACN maintaining a Ph of 11.0 and a return flow of 350 M3 testing at 1.1 Au to start. It is expected to accumulate 5 to 7 oz. the first week with leaching continuing until the return solution stabilizes. Mexus will be adding new ore to the pad with the Merrill Crow gold recovery system running weekly to keep up with production.

Mako Mining Corp. today announced the successful completion of the previously announced rights offering which expired on July 15, 2019, raising total aggregate gross proceeds of approximately $27,001,718.

Alio Gold Inc. has received formal notice from Maverix Metals Inc., a 3.25% royalty holder over the Company’s Florida Canyon property, seeking arbitration to resolve disputed allowable deductions in the royalty calculations. The Company has been in discussions with Maverix since acquiring the Florida Canyon property in May 2018. The arbitration notice states that the dollar amount of the claim is still being calculated but the disputed amount based on past production is approximately $1,000,000. The Company intends to vigorously defend its interests and the interests of its stakeholders. The Company remains confident that the historical calculation of the royalty, which has not changed since the inception of the royalty in 2013, is correct and that the Company’s position is strong.

Defiance Silver Corp. is pleased to announce the appointment of Mr. James Bergin to its Board of Directors replacing Peter Hawley.

Magellan Gold Corporation is pleased to announce the immediate appointment of Frank A. Pastorino as Chief Operating Officer, further strengthening Magellan’s senior management team. The Company announced David Drips as President & CEO on June 19, 2019.

GREAT PANTHER MINING LIMITED is pleased to report the appointments of Fernando Cornejo as Vice President of Projects & Technical Services and Marcelo Batelochi as Director of Exploration, Brazil.

SilverCrest Metals Inc. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Desjardins Capital Markets, pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 3,762,000 common shares of the Company at a price of C$5.85 per Share for aggregate gross proceeds to the Company of C$22.0 million.

Discovery Metals Corp. announces it has received conditional approval from the TSX Venture Exchange to complete the proposed plan of arrangement transaction with Levon Resources Ltd. as described in Discovery’s news release dated May 30, 2019, subject to standard closing conditions. Levon has also received conditional approval of the Toronto Stock Exchange in connection with the proposed transaction.