Month: January 2024

“Our 2023 production results reflect the significant contribution from the assets we acquired through the Yamana transaction, and are broadly in line with our expectations,” said Michael Steinmann, President and Chief Executive Officer.

Jody Kuzenko, President and CEO of Torex, stated: “2024 will be a transformational year for Torex as we wind down the ELG Open Pits, continue steady production from ELG Underground, commence stope mining at Media Luna, complete an internal economic study on developing EPO, and further bolster our ongoing drilling success, all while running one of the safest operations in the industry. With 2024 expected to be the final year of significant investment in the Media Luna Project, Torex is well positioned to return to positive free cash flow in 2025.”

“The Avino Mine continued to provide consistent results in the fourth quarter of 2023; however, overall production was impacted by mining in lower grade areas, and lower recovery rates,” said David Wolfin, President and CEO of Avino. “Although grades were lower than 2022, we did see positive increases as we moved into other blocks of the mine compared to the third quarter.”

Riverside’s President and CEO, John-Mark Staude, stated: “We are in a good position for the New Year with a strong balance sheet, excellent projects and the key transactions that Riverside completed in 2023, setting us up now for an excellent 2024. To our knowledge, Riverside is one of the better positioned companies, compared to our peers, to benefit from a potential incoming general commodities sector upside.”

Eric Caba, President and CEO of Bear Creek, states, “We are extremely pleased that the efforts we have made at Mercedes to improve production are finally bearing out, with a 47% increase in gold production in Q4 compared to Q3 2023. Q4 2023 saw month-over-month improvements culminating in an output of 5,198 gold ounces in December 2023 – the highest monthly level of gold production at Mercedes since April 2019. We have had to go back to fundamental basics in the mine and focus on increasing development, managing costs, and placing key talent in the right positions.”

Goldgroup Mining Inc. is pleased to announce it is in the process of arranging convertible debt financing of up to USD $400,000 of which USD $100,000 has already been received.

“First Majestic finished 2023 on a strong and positive note, despite the challenges endured earlier in the year, and I would like to congratulate the team on their hard work and efforts,” said Keith Neumeyer, the Company’s President & CEO. “Santa Elena had a stellar year with production reaching a record 9.6 million AgEq ounces while maintaining high safety standards. We are enjoying the dividends from the investments we made at Santa Elena over the last few years, and we are thrilled with these achievements.”

Oroco Resource Corp. is pleased to announce the closing of a non-brokered private placement raising gross proceeds of $1,454,302.80 through the sale of 3,635,757 units at a price of $0.40 per unit.

The Camino Rojo Oxide Mine produced a record 34,484 ounces of gold during the fourth quarter and 121,877 ounces of gold for the full year 2023, exceeding the increased gold production guidance range of 110,000 to 120,000 ounces. Gold sold was 31,300 ounces during the fourth quarter and 118,993 ounces for the full year.