Chairman and CEO, James Anderson said, “As we continue to grow precious metals production, the Company has filed its preliminary base shelf prospectus in order to permit the widest possible financial flexibility for the ensuing 25-month period.”
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented, “Santacruz’s operations rebounded from Q1 2024, thanks to the hard work and dedication of all our teams. We processed a near record high of just over 500,000 tonnes of mineralized material.”
Mr. Dan Barnholden, CEO, commented, “We are extremely pleased with our progress at the Tahuehueto Gold Mine. Processing rates are currently averaging 450 tpd and we expect to steadily increase over the coming weeks to reach commercial production in September 2024.”
“An estimated after-tax NPV (5%) of more than US$1.1 billion, an after-tax IRR of 85.7% and a payback period of approximately nine months, helps solidify Panuco as a world class development project in the precious metals space,” commented Michael Konnert, President and CEO. “The PEA, based on conservative metals prices of US$26/oz silver and US$1,975/oz gold, outlines a high-margin, underground silver primary mine with substantial silver-gold production of 162.1 million silver-equivalent ounces over an initial 11-year mine life.”
“We are pleased with the latest results which show further potential in the South-East Deeps zone beyond what we will be including in our next reserve and resource estimates update, which we continue to expect to complete in the third quarter of 2024,” said Dale Andres, CEO of Gatos Silver.
This latest economic update of Cerro Las Minitas is the culmination of a number of technical improvements of the earlier PEA, developed over the last 18 months, which together result in a significant increase in the value of the Cerro Las Minitas asset.
“The exploration drilling results today round out our first phase of 2024 drilling, showcasing the continued extension of near-surface resources to the southeast” commented Brodie Sutherland, CEO. “The North Hill and Main Zone Trends now extend over 900-meters defined by drilling, while the 4-T Trend extends over 700-meters. All trends remain open to the southeast and northwest and the recent surface sampling highlights a broader footprint expanding to the east. Surface work is ongoing to further define and delineate key target areas across the expansion area.”
“The second quarter continued to validate the strength and quality of our operations at Juanicipio,” said George Paspalas, MAG Silver’s President and CEO. “We achieved solid milling rates, improvements in recovery and exceptional head grades in a very supportive commodity price environment.”
“Construction is well past the halfway mark, and site activities are beginning to peak,” commented Don Gray, Chief Operating Officer. “We are very pleased with the advance at the Upper Platform, which should be ready for dry commissioning in Q3 2024. We are concentrating resources on the Lower Platform to finalize earthworks and begin concrete works in early Q3. Underground mine development continues advancing in line with expectations as we accessed ore in Q2.”
Greg Liller, Executive Chairman and COO of Sierra Madre, states, “Since acquiring Guitarra on March 30, 2023, our team has been working hard to get the mine back into commercial production. The commencement of test mining and processing is a significant step in that direction.”
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
