Aztec Minerals Corp. is pleased to announce that it is amending the terms of its non-brokered private placement financing, previously announced on July 16, 2024, for up to 13,888,888 units of the Company at a price of C$0.18 per Unit for aggregate gross proceeds of up to C$2,500,000, increased from C$1,500,000.
“2023 was an exciting and transformative year for MAG and all of our stakeholders. Looking ahead, we remain focused on fulfilling our commitments, optimizing operational efficiencies and advancing our exploration initiatives,” said George Paspalas, MAG’s President and Chief Executive Officer.
“The commencement of mining operations at the new Nicho Main Zone pit has begun reasonably within expectations, especially given there are always aspects of opening a new mining zone to be learned from and optimized. Importantly, the new mining plan provides a significant improvement in gold stacking activities at the Phase 1 leach pad. This positive shift in mine operations, as gold prices strengthen considerably, should provide a strong foundation for operations to return to being cash generative as the year continues,” stated Doug Ramshaw, President of Minera Alamos.
“Consistent with our plans, our operations delivered a robust quarter, and we are well-positioned for a strong second half of 2024”, said Keith Neumeyer, First Majestic’s President & CEO. “We are extremely pleased with the production trajectory at Santa Elena, allowing us to revise our guidance upwards on the back of increased throughput and significantly higher gold grades.”
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