Month: March 2023

Jorge A. Ganoza, President and CEO, commented, “Fortuna finished the year in line with production guidance, with only a slight miss in cost guidance at the Lindero Mine in spite of strong inflationary pressures. Our business continued to generate healthy free cash flow from ongoing operations of $69.2 million and adjusted results of $245.5 million in Adjusted EBITDA, and adjusted net income of $42.6 million or $0.15 per share.”

“Though the 2022 financial results were disappointing, attributable silver production is expected to increase by over 80% in 2023 compared with 2022.”

Effective March 2, 2023, Daniel Kunz has resigned from the Board of Directors, as he was not standing for re-election at the Company’s upcoming Annual General Meeting. Mr. Kunz has been a member of the Board since 2011. To replace Mr. Kunz, Mr. William Matlack has been appointed to the Board.

Monumental Minerals Corp. welcomes Tyron Breytenbach to the advisory board as a senior capital markets advisor to the Company.

Osisko Development Corp. is pleased to announce that the Company has received the required approvals of the Company’s Board of Directors and made an application to the TSX Venture Exchange to reduce the exercise price of the common share purchase warrants issued in 2022.

“2022 was an important transition year for McEwen Mining. Our Fox operation in Timmins showed the largest improvement from 2021, with a 22% increase in gold production, 8% lower cash costs per ounce and steady all-in sustaining costs per ounce. Our operation in Nevada has now transitioned production to our Gold Bar South pit, a new mining contractor has been instated, and production is increasing,” commented Rob McEwen, Chairman and Chief Owner.

Jorge A. Ganoza, President, CEO and Director of Fortuna, commented, “Once again, the Court has agreed with our legal arguments and has granted us protection against this troubling and repeated attempt by SEMARNAT to affect an EIA they themselves granted to the Company only 13 months ago.”

Silver Viper Minerals Corp. is pleased to announce that it has closed the first tranche of its $3 million private placement announced on March 9, 2023, issuing 6,550,000 units of the Company at a price of $0.10 per Unit for aggregate gross proceeds of $655,000.