The Company maintains a strong balance sheet with $13.7 million in cash and no long-term debt. During the period, the Company completed a $9.0 million, non-brokered private placement and ended the quarter with working capital of $13.3 million.
Dale Wallster, CEO of Southern Empire, stated: “With Suaqui Verde, I believe that our team can create significant near-term value for Southern Empire shareholders. Copper, which has just been added to the U.S. Department of Energy’s List of Critical Materials, is now often referred to as the ‘new green metal’ as the electrification and decarbonisation of the world will not happen without it.”
“This PEA draws on the extensive expertise of our technical team in Mexico under the direction of our VP Operations, Jorge Diaz, who designed a mine plan which materially reduces upfront capital costs and increases throughput after year two with capital cost expansion financed exclusively from cash flow,” stated Ken MacLeod, President and CEO of Sonoro Gold.
Paddy Nicol, CEO of Orogen, commented: “We are happy to report another profitable quarter, supported by strong royalty revenue, a sustainable prospect generation business, and reduction in overhead and G&A expenses. This resulted in a 178% increase in cashflow from operations from the previous quarter which further strengthens the company’s balance sheet.”
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
