The Company has entered into a definitive agreement with Electrum Global Holdings L.P. to acquire Electrum’s 60% ownership interest in Southern Silver Holdings Limited for current and future cash and share payments totaling US$15.0 million. SSHL is a holding company that wholly owns Minera Plata del Sur S.A. de C.V.
Mr. Silva continued; “This acquisition is expected to pave the way for the future growth of Santacruz towards becoming a mid-tier silver producer. We wish to thank Peñoles management for their support throughout this process.”
Canuc Resources Corporation is pleased to announce that it has initiated a geological mapping and systematic sampling program along the 3 km structural corridor of the San Javier Silver-Gold Project. The San Javier Silver-Gold Project is located 1 hour southeast of Hermosillo in the prolific Sierra Madre silver belt of northwest Mexico.
Golden Tag Resources Ltd. announces that the Company will arrange a non-brokered private placement pursuant to which it will sell up to 20,000,000 Units at a price of C$0.28 per Unit to raise aggregate proceeds of up to $5,600,000. The Offering is subject to an over-allotment option allowing Golden Tag to increase the number of Units sold by an additional 5,000,000 Units for total aggregate proceeds of $7,000,000, if fully exercised.
Glenn Jessome, President and CEO of Silver Tiger, commented, “We are pleased to have Mr. Sprott’s support along with that of our other strategic institutional resource investors. We are now fully funded to drill the high grade vein extensions to the North and South of the historic El Tigre Mine.”
Fortune Bay Corp. is pleased to announce plans for the second half of 2020, focused on advancing the Goldfields Project located in northern Saskatchewan.
The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
Ruben Padilla, President and CEO of Sable stated, “We are very pleased with these first results that demonstrate the existence of very high-grade silver ore shoots at El Fierro. These results confirm that a very strong mineralised system is present at El Fiero. We are also greatly encouraged with the high gold values as gold was never assayed historically at El Fierro. We are looking forward to providing additional results from the ongoing El Fierro exploration program in the near term.”
According to PrivatePlacements.com Mexico led the globe in gold-related financings, with $606 million raised in June alone.
Luis Marchese, CEO of Sierra Metals, commented: “I am very pleased that we are restarting operations and production at Cusi. The improved silver metal price provides for greater cash flow potential from Cusi, contributing to revenue for the Company. The management team expects to continue ramping ore throughput up to the targeted rate of 1,200 tonnes per day by the end of the year, and we have plans to update studies in the second half of the year for the next phase of Cusi.”
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