Net proceeds of the Offering, if any, together with the Company’s current cash resources and free cash flow, will be used to advance its Terronera project and for working capital purposes.
Esta industria representa un elemento importante para la economía nacional, por lo cual su reactivación no debe ir más allá del 17 de mayo o los daños económicos serán irreversibles.
The Offering is expected to close on or about May 20, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American.
“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.”
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