Orla Mining Ltd. announced today that it has entered into an agreement with a syndicate of underwriters led by Stifel Nicolaus Canada Inc. pursuant to which the Underwriters will purchase, on a bought deal basis, 36,600,000 common shares of the Company at a price of C$2.05 per Common Share for aggregate gross proceeds to the Company of C$75,030,000.
“The current COVID-19 pandemic has presented the global community with some immediate and unprecedented challenges,” reports Robert Eadie, CEO and president of the company.
The Company has returned $113 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
McEwen Mining Inc. reports that in order to protect the health of our workforce, their families, and the nearby communities from the spread of COVID-19, both the Black Fox and Gold Bar mines will scale down operations beginning today for a period of 14 days.
“At San Jose, upgrading through infill drilling proved more challenging, as mining is transitioning from the central Stockwork zone to the Trinidad North area where mineralization tends to be narrower and more variable in nature. As the mineralization style changes, the operation is implementing various initiatives, such as pillar recovery and narrow vein mining methods, to optimize mineral extraction.”
The Company is pleased to announce that it is now fully permitted to continue exploration work, including a drill program, on its 100% owned San Diego silver-zinc project in Durango, Mexico.
Due to the emerging public health impact of the COVID-19 pandemic, Newmont’s 2020 Annual Meeting of Stockholders will be held in a virtual only meeting format on Tuesday, April 21, 2020, at 8:00 a.m. Mountain Time.
Dr. Steven Weiss, chief technical adviser for the Rebeico Project, commented “We’re very optimistic about this maiden drill program at the New Year Zone, especially considering the robust gold values obtained over a substantial area at surface”.
The highlight of progress to date is the development of the El Cuervo target, where wide zones (up to 40m) of silicification, breccias and veining with strong gold and silver rock chip geochemistry is being mapped and sampled 3.8km south east of the current drilled area at San Pedro.
To-date, activities at the Company’s two operating mines; Mercedes in Sonora, Mexico and South Arturo in Nevada, USA, have not been materially impacted by the COVID-19 pandemic.
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