Month: February 2024

N. Eric Fier, CEO, commented, “2023 marked a successful first year of commercial production with Las Chispas exceeding its inaugural sales guidance, leading to full repayment of our debt and a $54.4 million or 107% increase in treasury assets. Despite continued cost pressures we are proud to be delivering sales and cost guidance that is in line with our 2023 Technical Report. In 2024 we will continue to pursue capital allocation opportunities including exploration, share buybacks, and growth of our bullion holdings.”

Oroco Resource Corp. is pleased to announce the closing of a non-brokered private placement raising net proceeds of $1,028,000 through the sale of 2,570,000 units at a price of $0.40 per unit.

Sonoro Gold Corp. is pleased to announce that it has closed the first tranche of its previously announced C$1,000,000 non-brokered private placement by issuing 11,028,429 units at a price of C$0.05 per Unit, for gross proceeds of C$551,421.

Kootenay Silver Inc. announces that it has closed the first tranche of its previously announced non-brokered private placement of units of the Company at a price of $0.75 per Unit for aggregate gross proceeds of $3,483,062.

Goldgroup Mining Inc. is pleased to announce that it has closed USD$100,000 of the previously announced convertible debt financing.

As of December 31, 2023, the San Jose Mine has Proven and Probable Mineral Reserves of 0.7 Mt containing 3.7 Moz Ag and 23 koz Au, in addition to Inferred Resources of 1.0 Mt containing a further 4.9 Moz Ag and 35 koz Au.

“The Company’s ambitious exploration program in 2023 and continuing into 2024 is yielding exciting results. At Detour Lake, step-out drilling suggests potential for an underground operation and, together with optimization of the current open pits and mill, bringing the Detour Lake mine to a production rate of one million ounces per year. At Odyssey, step-out drilling continues to significantly extend the East Gouldie deposit to the west and east. At Hope Bay, drill results confirm the expansion of the Madrid deposit at depth with wide high grade intercepts, in line with our expectations for the exploration upside of this project,” said Guy Gosselin, Agnico Eagle’s Executive Vice-President, Exploration.

“We had a very strong close to 2023, with our fourth quarter results driving a record year in terms of safety, operating and financial performance. We achieved the top end of our gold production guidance range and the mid-point of our cost guidance ranges despite inflationary pressures throughout the year,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.