Net proceeds from the private placement will be used to fund acquisition costs of an indirect 100% interest in a mineral property in Brazil known as Lima as well as initial exploration work in preparation for bulk sampling at Lima, and for general working capital.
Greg McKenzie, President and CEO commented, “We would like to welcome Mr. English to the Golden Tag team as a Director of the Company. His years of extensive capital market experience will be valuable as we look to unlock shareholder value.”
The Company intends to use the net proceeds of the Offering to advance the Panuco project, as well as for working capital and general corporate purposes.
GR Silver Mining President and CEO, Marcio Fonseca, commented: “With the closing of this oversubscribed bought deal financing, GR Silver Mining now has a solid cash position on its balance sheet, placing the Company in a strong position to continue drilling activities in the Plomosas and San Marcial Project.”
“Telson Management is very pleased to have successfully negotiated and executed both the Nyrstar Letter Agreement and the Trafigura Letter Agreement to bring the Company out of its respective loan default status and conditionally defer interest and principle payments to June 30, 2021.”
“Consistently strong environmental, social and governance performance is inextricably linked to delivering superior business results and is a key measure of how well our business is managed overall,” said Tom Palmer, President and Chief Executive Officer. “This recognition is yet another indicator of how deeply sustainability and strong, transparent governance is integrated into our culture.”
Tarachi Gold Corp. is pleased to announce that it has retained Digital 257 Technologies Inc. Digital 257 provides digital media and capital markets communications services and will assist the Company with online communications with the goal of increasing market awareness of the Company.
The proceeds of the Placement will be used to continue exploration on multiple properties within the Oaxaca, Mexico Au-Ag belt optioned from Minera Zalamera S.A. de C.V.
Taj Singh, President and CEO, states: “We are very encouraged that we continue to intercept broad zones of mineralization with excellent grades along the north-east trend in areas where there are significant gaps in previous drilling. We are also excited to announce, based on the excellent exploration results we have achieved to date, we are expanding our Phase 1 drill program by approximately 20,000 metres. With over C$40 million cash on our balance sheet we are very well positioned to not only complete this expanded program, along with an updated resource and PEA, but also to advance and drill test our property-wide targets at Cordero.”
“This exploration program confirms the existence of high-grade silver mineralization and demonstrates the important potential of this new zone. It will also allow the Company to use a mining method which results in high productivity thus achieving the planned objectives for the Cusi Mine” stated J. Alonso Lujan, Vice President Exploration of Sierra Metals.
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