Month: March 2020

Excellon Resources Inc. and Otis Gold Corp. announced today that they have filed a joint management information circular which will be mailed out to their respective shareholders’ next week for the meetings to be held on April 17, 2020, in connection with the previously announced acquisition by Excellon of all of the issued and outstanding shares of Otis pursuant to a plan of arrangement under the Business Corporations Act (British Columbia).

“Over the past year, Hecla took steps to de-risk all aspects of the business, which now puts us in a position to respond to COVID-19,” said Phillips S. Baker, Jr., President and CEO.

“Our fourth quarter results at Florida Canyon showed significant improvement and were markedly better than those achieved in the middle of the year, confirming that Florida Canyon is indeed turning the corner. In the fourth quarter we were able to mine 31% more tonnes per day, process 48% more tonnes per day, and deposit 37% more gold on the leach pad than in the third quarter. These incremental improvements drove our overall operating costs in the quarter down, to less than $7 per tonne, which is an exceptional achievement,” said Mark Backens, President and CEO.

“Considering the significant size and scale of the QB2 project, and the fact that workers on the project commute in large numbers from all over Chile, this is the right decision to protect the health and safety of workers and their families, and to support the Chilean government efforts to halt the spread of COVID-19,” said Don Lindsay, President and CEO, Teck.

Newmont Corporation announced today the pricing terms of the previously announced offers to purchase for cash up to the applicable Maximum Principal Tender Amount of (i) the 3.500% Senior Notes due 2022 issued by Newmont, (ii) the 3.700% Notes due 2023 issued by Newmont and (iii) the 3.700% Notes due 2023 issued by Goldcorp Inc., a wholly-owned subsidiary of Newmont.

“The success of our one billion dollar debt offering and the positive response from bondholders is a result of the confidence in our capital discipline and the strength of our business over the long term,” said Tom Palmer, President and Chief Executive Officer.

“The constantly changing COVID-19 situation is unprecedented and for many is a time filled with uncertainty. We’d like to ensure our shareholders that operations at Parral and Los Ricos continue as normal as we monitor the situation. Procedures have been implemented at both sites including employee education and increased sanitization. All individuals entering the sites will be monitored for symptoms including elevated temperatures,” said Brad Langille, President and CEO.

SilverCrest is of the view that NBF is not entitled to terminate the Agreement. In SilverCrest’s opinion, the novel coronavirus pandemic considered by NBF as the basis for terminating this Agreement was fully evident when the “bought deal” financing was agreed upon with expectations that the precious metals market would respond positively to this known risk.

First Majestic Silver Corp. announces that its board of directors has approved the extension of its share repurchase program pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange or alternative Canadian market places over the next 12 months.