Gatos Silver, Inc. reports that power from Mexico’s national power grid has been restricted due to the recent severe winter storms in Texas. Northern Mexico is highly dependent upon natural gas from Texas to generate power.
“We are excited to have boots back on the ground at Pilar,” commented VP Exploration, Brodie Sutherland. “The results released last week for our Phase I drill program show the potential to grow the known extent of mineralization at depth and along strike. The high-grade gold and silver intercepts provide evidence for deep rooted structures which we are just starting to uncover.”
The violations relate to two non-underwritten transactions involving the sale of an aggregate of 26,290,000 shares of common stock at a discount to the market price at the time of each transaction, with the first transaction, which closed on February 3, 2021, involving the sale of 15,300,000 shares of common stock at a purchase price of $0.70 per share, and with the second transaction, which closed on February 16, 2021, involving the sale of 10,990,000 shares of common stock at a purchase price of $1.30 per share.
We generated 87% of our $105.1 million in operating earnings in the second half of 2020 primarily due to higher silver production and an improved metal price environment. This significant increase in profitability helped to lift our cash balance to a record $238.6 million at the end of the year.”
Stroud Resources Ltd. is pleased to announce that its drilling permit application has been approved by the Mexican Mining Authority for its Santo Domingo Silver Property located in Hostotipaquillo Region of Jalisco, Mexico.
“In 2020, Newmont achieved record performance including $3.6 billion of free cash flow and ending the year with over $5.5 billion of consolidated cash. These results enable Newmont to lead the industry in shareholder returns, invest in organic growth and maintain financial flexibility,” said Tom Palmer, President and Chief Executive Officer.
Golden Minerals Company has today announced financial results and a business summary for the full fiscal year ending December 31, 2020.
“We saw modest disruptions in Quebec and Mexico; however, these did not materially impact our business. During the year we refinanced our long-term debt now due in 2028, and through solid free cash flow generation, added cash to the balance sheet, reduced our net debt, and increased dividends.”
Drs. Ressel and Christensen made an intriguing observation regarding the inversion of a stratigraphic horizon of rocks favourable to host gold-silver mineralization at Tenoriba from prior mapping. Should this inverted stratigraphy prove correct this could have significant positive implications as far as the abundance and location of this favourable stratigraphy as a host of gold-silver mineralization at Tenoriba.
“Pan American delivered strong financial performance in 2020, generating a record $462.3 million in operating cash flow, which enabled us to fully repay all bank debt, double our quarterly dividend to shareholders, and grow our cash balance at year end,” said Michael Steinmann, President and Chief Executive Officer
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