“The combined favorable grades, strike length, vertical extent, and vein proximity, along with the manto’s size and continuity, make the deposit attractive for underground bulk mining,” said Don Gray, Chief Operating Officer. “Our exploration team’s careful attention while relogging the historic drill results provided an alternative geologic model.”
While it is premature to draw any definitive conclusions, Fresnillo has indicated that there is a reasonable possibility that these operational issues might lead to considerable revisions to the Silverstream Agreement.
Tony Makuch, CEO, commented: “As a precious metals company focused on creating value, it is a great time to be advancing one of the world’s largest silver development projects, with market fundamentals pointing to continued deficits and diminishing inventories.”
“Our business continues to make strong progress across all areas with highlights during the quarter in operations, development, and exploration. Most notably, Camino Rojo’s operations are generating significant cash flow which has allowed us to repay our debt well ahead of schedule and providing the foundation to invest in future growth and discovery.”
Orex Minerals Inc. is pleased to announce the completion of the Company’s warrant exercise incentive program previously announced on October 7 and extended on November 1, 2024 raising approximately $1.2 million.
N. Eric Fier, CEO, commented, “We are pleased to deliver another quarterly record for both revenue and mine operating earnings, as well as one of our best quarters to date for both operating and free cash flow. Our results were supported by strong metal prices, impressive sales quantities and all-in sustaining costs that were well below the low end of our 2024 guidance.”
“We were pleased to see the continued rally in metal prices during the third quarter” said David Wolfin, President and CEO. “That combined with our strong production results, positions us favorably as we prepare to achieve our transformational growth objectives through advancement at La Preciosa.”
“The results from the soil survey are simply incredible with samples exceeding the analysis overlimits two to three times; outlining the much larger potential for significant mineralization at Gran Pilar” commented Brodie Sutherland, CEO. “The consistently high values across the area is telling of the overall potential, this area also coincides with early reconnaissance sampling that has returned significant gold and silver values released earlier this year.”
MAG Silver Corp. reported robust financial results for Q3 2024, driven by strong performance at the Juanicipio mine, where it holds a 44% stake. Net income was $22.3 million ($0.22 per share), supported by Juanicipio’s silver production of 4.9 million ounces and equivalent production of 7.1 million ounces. Additionally, MAG entered an exploration agreement with Apollo Silver for the Cinco de Mayo project.
Fresnillo plc has received notification from Industrias Peñoles, S.A.B. de C.V. that its Sabinas mine is experiencing operational difficulties impacting silver production.
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