“We report another strong year of earnings from mining operations of $5.3million and net income of $0.05 per share. In addition, we have accumulated over $8.8million in cash at April 30,2022, which does not account for the $1.2 million private placement completed this month which is slated for additional exploration on our properties,” reported Robert Eadie, Chief Executive Officer.
“Exploration work in this high-grade gold-silver district continues to deliver results that highlight the significance of the El Refugio hydrothermal system first identified in 2020. Drilling at El Refugio and peripheral to the maiden resource area identifies this as a major upwelling feeder zone in the district with drill core observations providing indications of significant additional depth potential.”
Gold Resource Corporation declared its quarterly dividend of one cent ($0.01) per common share for the third quarter of 2022 payable on September 30, 2022, to shareholders of record as of September 15, 2022.
Regarding the drill program, Dr. Craig Gibson, President and CEO of the Company, said: “We are pleased to be able to commence our plan to drill holes to intersect the Palos Verdes vein at significantly deeper levels than the previous drilling. We will be able to test the vein several hundred meters underneath the surface exposures.”
Revenues decreased by $1.9 million in Q2 2022 compared to Q2 2021, driven primarily by negative provisional pricing adjustments ($1.0 million variance), lower realized silver prices, lower lead and zinc payable metals sold, partially offset by increased lead and zinc prices. H1 2022 revenues decreased by $3.2 million compared to H1 2021, impacted primarily by the Labour Action, which eliminated production for the month of March 2022 and the Q2 variances discussed above.
Akiba Leisman, CEO of Mako states, “Crucita is the second shallow high-grade discovery the Company has announced over the past 2 months at Las Conchitas. Our objective was always to start producing with a small resource, on a fraction of the San Albino area, and to use the cash flow from San Albino to unlock the potential of our orogenic gold system.”
Gold79 Mines Ltd. is pleased to announce the initiation of a non-brokered private placement to raise gross proceeds of up to $500,000, comprising 16,666,667 units at $0.03 per Unit,
“We are trending in the right direction with consolidated production improvements from our mines, having achieved production within our guidance for H1. Our disciplined approach to achieve stabilized mining operations continues, with our primary goal in mind – to achieve a full recovery at Bolivar.”
“In the second quarter of 2022 the Company set a new quarterly production record driven by both strong operational and safety performance. In Nunavut, Amaruq had a record quarter for both costs and production, and the Ontario mines exceeded forecast. This strong production performance led to better than expected earnings and cashflow and puts us in a good position to deliver on 2022 guidance forecasts, despite ongoing inflationary cost pressures,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.
Following effectiveness of the Reverse Split the Company expects to regain compliance with NYSE continued listing requirements and remain listed on the NYSE.
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