“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.
“CLG’s strong third quarter 2024 production and cost performance together with higher metal prices resulted in record quarterly free cash flow at the LGJV and a record quarter-end cash balance for Gatos Silver,” said Dale Andres, CEO of Gatos Silver.
“Fortunately, during this concerning event, no personal injuries were reported and the people affected are safe. The safety and security of our employees, customers, and community members is our top priority, and we will continue to fully cooperate with the authorities as they investigate the situation,” the mining company said.
Kingsmen Resources Ltd. is pleased to report on its continuing exploration program on its 100% owned Las Coloradas project, which is in the Parral mining district of the Central Mexican Silver Belt, Chihuahua Mexico.
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