“We are continuing as planned to mine profitable ounces and focus on strict cost controls. Despite the lower than planned gold and silver grades during this quarter, new exploration has discovered better grades that we expect to reach by drifting in the next quarters,” reported Salvador Garcia, Chief Operating Officer of the company.
“As with Island Gold, operations at Mulatos will be ramped up in a safe manner. To date, we have not had any confirmed cases of COVID-19 among any of our employees or contractors. We continue to follow strict protocols across our operations with our foremost priority being to protect the health and safety of our employees, their families, and our local communities,” said John A. McCluskey, President and Chief Executive Officer.
Millrock President & CEO commented: “The core drilled in the first two holes of the program demonstrated a Pogo-like system with an abundance of alteration and sulfide mineralization indicating a robust hydrothermal environment.”
“We are pleased to welcome Dale as CEO of Fortune Bay. The Company is well positioned to enhance shareholder value as it advances the Goldfields and Ixhuatán projects.”
“As the COVID-19 pandemic sparked higher than normal volatility in the metals market near the end of the quarter, we temporarily suspended our silver and gold sales as paper prices dropped significantly below true physical prices,” stated Keith Neumeyer, President and CEO of First Majestic. “These inventoried ounces have been carried over into the second quarter and will be sold as prices improve. Nevertheless, strong production from each of our three mines generated operating earnings of $21.1 million, representing a 106% increase over the same quarter of 2019.”
Ruben Padilla, President and CEO of Sable stated, “Given the historically known high-grade Ag-Pb-Zn mineralization, the acquisition of the El Fierro Project reinforces our confidence on the geological potential of the San Juan Province and strengthens our presence as an important player in this region….”
“I am very proud of the way our team at Cozamin has handled the difficult challenges posed by COVID-19,” said Darren Pylot, President & CEO of Capstone. “The rigorous safety controls and prevention measures put in place earlier this year will continue to be our top priority as the site returns to full operations. Over the past six weeks, some reduced mining and milling activities took place, which will allow for a safe and efficient ramp-up to full operating levels within two weeks. As a result, we expect there to be minimal impact on our guidance.”
Fred Stanford, President & CEO of Torex, stated: “We have continued our active engagement with local communities during the national suspension of non-essential businesses. The members of these communities have encouraged us to restart operations as quickly as possible. With the Government lifting the suspension decree for mining as of May 18th, mobilization for a full restart of operations will begin immediately.”
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