Month: May 2020

Golden Minerals’ President and Chief Executive Officer, Warren Rehn, notes, “The first quarter of 2020 has marked a significant turning point in our business focus as we gear up for a restart of gold and silver production in Mexico based on our recent preliminary economic assessment for our Rodeo project. The positive results from our updated Velardeña preliminary economic assessment provide an additional potential opportunity for future production in Mexico.”

GR Silver Mining Ltd. announces that it has entered into an agreement with Beacon Securities Limited as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 22,300,000 units at a price of $0.27 per Unit for aggregate gross proceeds to the Company of $6,021,000.

“The Company’s operations generated $1.9 million USD of cash flow, net of general and administrative expenses, in the quarter. Parral had another record production quarter, which covered corporate general and administrative expenses and the majority of our exploration expenditures at Los Ricos,” Brad Langille, President and CEO stated. “With our $19.1 million cash balance and the cash flow from our Parral operation, we are well positioned to execute on our Los Ricos project.”

Christian Milau, CEO of Equinox Gold, stated: “This PEA demonstrates the substantial opportunity for both mine life extension and increased annual gold production at Aurizona through development of an underground mine.”

Argonaut Gold Inc. and Alio Gold Inc. are pleased to announce that Glass, Lewis & Co., an independent proxy advisory firm that provides voting recommendations to shareholders, has issued positive reviews of the proposed merger announced on March 30, 2020.

Evrim President & CEO Paddy Nicol stated, “We would like to thank Newmont for their exploration expertise and financial support over the past three years. Exploration work totalling US$3.2 million allowed for the evolution of the Astro project from a regional greenfield generative concept (the Mackenzie Alliance) to a ten kilometre long structural corridor with outcropping gold mineralization.”

“With grades in excess of 11.0 g/t Au, the Cove deposit is one of the highest-grade undeveloped gold deposits in the United States with resources over 1 million ounces”, stated Ewan Downie, President and CEO of Premier.

“Our rapid and early response to COVID-19 protected our workers, operations, and the communities in which we operate,” said Phillips S. Baker, Jr., Hecla’s President and CEO.

Great Panther Mining Limited announces that two employees that live in the nearby communities of the Tucano Gold Mine in northern Brazil have tested positive for the COVID-19 virus. Both employees are stable with mild symptoms and remain in isolation at home monitored daily by the local health authority.

Arturo Bonillas, President and Chief Executive Officer of Magna, stated, “With a stronger balance sheet and operating team, we look forward to getting back to the mine to start implementing our plans to re-establish a profitable mining operation. We see several prospects to enhance shareholder value and through a focused operating approach, we believe our team can begin surfacing this value in the near-term.”