Argonaut Gold Inc. is pleased to announce it has closed its previously announced public offering of 223,685,000 common shares of the Company at a price of C$0.38 per Offered Share for gross proceeds to the Company of C$85,000,300, including the exercise in full of the underwriters’ over-allotment option.
It is with pride and pleasure that we announce the addition of Mr. Barry Murphy as non-executive director with immediate effect to Heliostar’s board of directors. Mr. Murphy will also join Heliostar’s Technical Committee, chaired by Mr. Alan Wilson Ph.D.
Coeur Mining, Inc. today announced the appointment of Mr. Rob Krcmarov to the Company’s Board of Directors, effective December 11.
James Anderson, Chairman & CEO of Guanajuato Silver, said, “As previously reported, we have adjusted several operating procedures and made significant capex investments designed to increase efficiencies and better overall commercial performance. Results to date are very encouraging; we appear to be back on track in terms of the progress of the ramp-up at El Cubo as we have increased the available production stopes there from 10 to 23; also, our new business model at Topia is generating much healthier economics. At San Ignacio, November was the best single month on record regarding tonnes mined. We are confident that the trajectory of this success will continue well into the New Year.”
For second half 2017, the company is providing Los Filos mine production guidance of 95,000 to 110,000 ounces at an AISC/oz of $875 to $925.
“This result is one of the highest-grade and most consistently mineralized to date and continues to prove the significant potential of the developing new resources in the Gloria / Three Sisters vein system. In addition, these wider and higher grade veins are closer to the surface and will further improve their economic impact to our future mine plans,” stated Allen Palmiere, President and CEO of the Company.
The proceeds of the Incentive Program will be used for exploration and development of the Ana Paula Project and for working capital purposes.
The Company intends to use the minimum net proceeds of $3,500,000 from the Offering for greenfield drilling at the newly commenced producing mill at Plomosas high-grade zinc-lead-silver mine at Chihuahua, Mexico and working capital requirements and other general corporate purposes which includes legal and financing fees as part of this Offering.
The Company announces that it has negotiated debt settlement with arm’s length and non-arm’s length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX-V, the Company has settled aggregate debt of $100,792 outstanding as at October 31, 2023, in consideration for which it will issue an aggregate of 1,343,891 common shares at a deemed price of $0.075 per share.
“We continued to see strength in our business as the increase in demand from copper and battery metal customers more than offset the slowdown in exploration from junior gold companies,” said Denis Larocque, President and CEO of Major Drilling.
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