The proceeds from the sale of the Shares will be used for the exploration, development and/or improvement of the Company’s existing mine properties and for working capital and general corporate purposes.
“We are very pleased that Susan has joined our Board,” said Peter Barnes, Chairman of MAG. “She brings extensive operations and health, safety, environmental and community expertise to our Board, along with wide-ranging business and governance experience, all of which furthers our ability to enhance shareholder value.”
The high-grade gold and silver values returned from the drill program, particularly drill holes NRC-20-04 and NRC-20-06, are extremely encouraging and exceed expectations from a first drill program at the Nora project.
Our Platosa Mine continued to deliver strong production in Q4 2020 after our restart of operations in late Q2, with another quarter of near record mined and milled tonnage,” stated Brendan Cahill, President & CEO. “The numerous improvements we have made to the operation are bearing fruit and we continue to identify additional areas for optimization.”
Riverside’s President and CEO, John-Mark Staude, stated: “2020 was a challenging year for the world and yet Riverside was lucky to have strong projects, a strong local team, and partners to work through the year such that we are set up exceptionally well entering 2021.”
“Our share repurchase program demonstrates the confidence we have in our world-class portfolio and disciplined operating model to provide industry-leading returns to our shareholders,” said Tom Palmer, President and Chief Executive Officer.
“We delivered on our 2020 production guidance and produced more gold last year than in 2019, despite the challenges of COVID-19. Our teams in Brazil , Mexico , and Peru did a tremendous job prioritizing health and safety, while still achieving profitable production and executing our exploration programs”, stated Rob Henderson , President and CEO.
“The feasibility resource estimation will include 21 veins (5 veins containing a majority of the high-grade mineralization) of the known 45 veins. The best opportunities for resource expansion for the upcoming Feasibility Study are the Babi Vista Vein and Babi Vista Splay Vein, which were both discovered after the PEA release.”
“During the year, we repositioned the Company for long-term success as we transition to free cash flow generation in 2021. We improved our operational and cost performance, executed on our strategic capital plans, restructured our balance sheet and improved our liquidity position and we have shifted our focus to driving further operational and cost optimizations at both our assets.”
VanGold Director Hernan Dorado Smith said: “Having spent four days in Guanajuato with the Behre Dolbear team in November 2020, both at El Pinguico and at El Cubo, we are impressed with their experience, hard work, and professionalism. We look forward to a long business relationship with them.”
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