Octavio Alvídrez, Chief Executive Officer, said: “We have delivered another solid quarter, in line with the consistent operating performance we have achieved all year. Our full year guidance set out in January remains unchanged. In silver, Saucito and San Julián Veins have performed very well, helping to offset slightly lower output at Fresnillo.”
Florida Canyon Gold Inc. announced today the receipt of the clearance decision from the Comisión Federal de Competencia Económica (“COFECE”) with respect to the pending sale of its Mexico Business Unit to Heliostar Metals Ltd. COFECE approval was the final substantive regulatory approval required prior to closing of the sale of the Mexico Business Unit, which is anticipated in late October or early November 2024.
Goldgroup CEO, Ralph Shearing, commented, “Historically Cerro Prieto has deposited crushed mineralized material to the leach pads at P80 of 5/8” and over the past five years has deposited an average of 42% ROM (Run of Mine uncrushed material). As such, gold recovery averaged 60% in the first 5 years of operation with 5/8” crush deposited. With the addition of ROM over the past five years, gold recovery has fallen to an average of 42.6%.”
Glenn Jessome, President & CEO stated “We are very pleased with the work completed by our consultants and our technical team on the PFS for the open pit at El Tigre. The open pit delivers robust economics with an NPV of US$222 million, an initial capital expenditure of US$87 million, and a payback of 2 years with 3 years of production in the Proven category in the ‘Starter Pit using metal prices greatly discounted to the spot price.”
James Anderson, chairman and chief executive officer, said: “We are extremely pleased to welcome the participation of Mr. Eric Sprott in this financing. His continued support is a strong endorsement of Guanajuato Silver’s vision and potential.”
Jean-Paul Tsotsos, Interim Chief Executive Officer, commented, “We are pleased that the metallurgical test work achieved gold recovery rates exceeding 70%, providing verification that our proprietary oxidative leach technology is working as planned. These test results will be the foundation for a Metates pre-feasibility study.
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