Commenting on the closure of operations in Latin America, Mr. Gary C. Evans, Chairman and Co-CEO of U.S. Antimony stated, “Based upon a thorough review of historical financial numbers of our Mexican operations, which was only possible after retention of a new CFO mid-year 2023, it became painfully obvious that these operations have always been unprofitable.”
N. Eric Fier, CEO, commented, “2023 marked a successful first full year of commercial production at Las Chispas, with the Operation exceeding the high end of sales guidance, beating the low end of AISC guidance, delivering impressive operating margins of 61%, and generating $121.1 million in free cash flow. We are extremely proud that within seven months of declaring commercial production we became debt free, after repaying $50.0 million in debt in the first half of 2023.”
“The results today further showcase the potential for significant mineralization beyond Pilar’s Main Zone.” commented Brodie Sutherland, CEO. “The North Alteration Zone is providing more evidence of a broad target area. The high silver values along with other pathfinder elements are indicating significant potential for targets at depth.”
Goldgroup Mining Inc. is saddened to report a fatality at its Cerro Prieto mine in Sonora, Mexico late evening local time March 5, 2024. In an isolated incident a mining contractor’s dozer operator was fatally injured while operating a D8 dozer.
Kootenay Silver Inc. is pleased to announce that the Company has filed an independent technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects on its 100% owned La Cigarra Project located in the Parral Silver District of Chihuahua State, Mexico, titled “Mineral Resource Estimate Update for the La Cigarra Ag-Pb-Zn Project, Chihuahua State, Mexico” with an effective date of November 29, 2023.
Despite promising exploration results at the newly identified Yessi vein, the Vancouver-based miner is moving forward with its plans to close the San Jose mine, but said a decision on whether the Yessi discovery can support operations beyond 2024 will be made in the second half of the year.
Aztec Minerals Corp. announces the final results of Au and multi-element analysis for its 2023 RC drill program at the Cervantes project in Sonora, Mexico. The RC drill program comprised 1,646 meters in 13 RC drill holes testing the California porphyry gold target located in the district of Soyopa, Sonora, Mexico.
Alain Charest, CEO comments “Although we were unable to repeat the results obtained on surface, the information we got from this first drilling program confirmed that the Buenavista mineralized system is continuous at depth and along strike. The drill information will further help us to better vector in on the mineralized zones within the system. Only a very small portion of the ‘Buenavista’ corridor has been drill-tested so far, so there remain plenty of targets to drill along this structure and along the others.”
Defiance Silver Corp. is pleased to report that no appeal has been filed in connection with the favorable ruling of the Mexican Court restoring the Company’s rightful ownership to the mining concessions forming part of the Tepal project. As a result, the judgement is now fully enforceable, and Geologix Explorations Mexico, S.V de C.A, a subsidiary of the Company, is now confirmed as the legitimate and rightful owner of the concessions.
Jorge A. Ganoza, President and CEO, commented, “In the fourth quarter Fortuna delivered strong free cash-flow from ongoing operations of $65 million compared to $70 million in the third quarter. The Company also achieved record gold equivalent production of 136,154 ounces and record sales of $265.3 million, representing increases of 6% and 9% respectively compared to Q3.”
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