Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, AMEX: SVBL) (“Silver Bull”) is pleased to announce the appointment of George Rawsthorne P.Eng. to the role of Vice President of Metallurgy.
Excalibur Resources Ltd. announces that, further to its news release of February 23, 2012, it has completed its non-brokered private placement of 6,190,000 Units at $0.10 per Unit for a total of $619,000. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share during the first year, and at $0.20 per share in the second year.
New Gold Inc. (“New Gold”) (tsx and nyse amex:NGD) today announces financial and operational results for the fourth quarter and year ended 2011, with record annual earnings and cash flow. The company, once again, met its production guidance achieving record annual production of 387,155 ounces during 2011 at a total cash cost(1) per ounce sold, net of by-product sales, of $446 per ounce. The combination of increased gold production, well below industry average total cash cost(1) and continued strength in commodity prices led New Gold to the strongest financial performance in the company’s history. When compared to 2010, earnings from mine operations increased by 54% to $315 million, net earnings increased by 212% to $179 million, or $0.42 per share, and net cash generated from operations increased by 23% to $230 million. New Gold is also pleased to reiterate its guidance for 2012 with the targeted start of the New Afton Mine in June set to increase gold production further to 405,000 to 445,000 ounces at a lower annual total cash cost(1) per ounce sold, net of by-product sales, of $410 to $430 per ounce.
Silvermex Resources Inc. is focused on delivering growth through expansion of resources and production in 2012. Building on 2011, which was a transitional year for Silvermex, the Company’s efforts will be centered on upgrading and expanding resources to deliver sustainable production from the La Guitarra Mine, as well as delineating future production centers within the Temascaltepec Mining District for near-term production expansion. Over the course of 2011, Silvermex’s focus was on rebuilding, upgrading and redeveloping the La Guitarra Mine. The Company’s primary goal of reaching mill designedproduction capacity and achieving positive cash flow from operations was accomplished ahead of schedule and under budget.
San Marco Resources Inc. announces that it has arranged a non-brokered private placement of 2,133,334 units at $0.15 per unit for gross proceeds of $320,000.
Gold Resource Corporation today announced record 2011 production, fourth quarter results and provides its 2012 production outlook which continues to target an aggressive low-cost growth profile. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Formation Metals Inc. announced today that the Company’s shares have commenced trading on the OTCQX(r), the United States Over-the-Counter market’s highest tier, under the symbol FMETF.
Aurion Resources Ltd. (“Aurion” or “Company”) (TSX VENTURE:”AU”) is pleased to report that it has increased the size of its previously announced non-brokered private placement, to 8,571,428 million units at a price of CDN$0.35 per unit to raise aggregate gross proceeds of CDN$3,000,000. Each unit will consist of one common share of Aurion and one full share purchase warrant of Aurion. Each whole share purchase warrant will entitle the holder thereof to acquire one additional common share of Aurion at an exercise price of CDN$0.45 cents per share for three years. Aurion can elect to accelerate the exercise of the warrants if Aurion’s volume-weighted average share price is at or above CDN$0.70 per share, based on the preceding 20 day closing share price. Finder fees may be paid pursuant to this financing.
Arian Silver Corporation (“Arian” or the “Company”) (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, today announced the release of its Management’s Discussion and Analysis (“MD&A”) and audited Financial Statements (“Financials”) for the year ended 31 December 2011.
VANCOUVER, BRITISH COLUMBIA, Feb 28, 2012 (MARKETWIRE via COMTEX) — War Eagle Mining Company Inc. (“War Eagle” or the “Company”) proposes to raise gross proceeds of $194,250 by way of a non-brokered private placement offering of the Company’s common shares. Mr. Danny Wettreich will be the sole subscriber of the private placement.
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