Minera Alamos Inc. announces that is has disposed of 3,000,000 common shares in the capital of Prime Mining Corp. for gross proceeds of $1,500,300 and 3,350,000 warrants to purchase common shares of Prime Mining for gross proceeds of $167,500.
“The first quarter of 2020 was challenging given the global COVID-19 pandemic and its impact on our gold production and unit costs in March as operations were reduced to minimum activities at all five of our Canadian mines. Throughout this crisis the health, safety and well-being of all our employees and the communities that we operate in have been our top priority and remain a key focus as we have begun to carefully restart and ramp up our Canadian operations”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer.
Acquires Controlling Interest in Mexican Explorer Minera Portree De Zacatecas
MAG intends to use the net proceeds of the Offering to fund exploration and development of the Juanicipio Project and for working capital and general corporate purposes.
“We had a strong start to the year with production improving from previous quarters,” stated Brendan Cahill, President and CEO. “Silver and lead production, in particular, were significantly higher than recent quarters.”
“This initial phase of our ongoing drill activities at the Santana project was intended primarily to confirm the margins of the Nicho mineralization as we work to optimize open pit modelling for the pending start of mining operations. Rather than closing off the limits of the deposit in this area we have demonstrated significant potential for further expansion to the south and southwest” stated Darren Koningen, CEO of Minera Alamos.
9,987 tonnes ore mined during the quarter grading 16.6% zinc 8.4%, lead and 51.3 g/t silver, up from the December quarter.
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