The Company announces that it has negotiated debt settlement with arm’s length and non-arm’s length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX-V, the Company has settled aggregate debt of $100,792 outstanding as at October 31, 2023, in consideration for which it will issue an aggregate of 1,343,891 common shares at a deemed price of $0.075 per share.
“We continued to see strength in our business as the increase in demand from copper and battery metal customers more than offset the slowdown in exploration from junior gold companies,” said Denis Larocque, President and CEO of Major Drilling.
The Company intends to use the proceeds from the offering to accelerate exploration activity at the recently acquired Plomosas high-grade zinc-lead-silver property located in Chihuahua, Mexico, as well as for working capital requirements and other general corporate purposes including legal and financing fees related to the offering.
Mike Struthers, CEO, commented, “This is a transformational initiative for Campo Morado. Through this strategic funding we can push ahead aggressively with this program, unlocking the true potential of the mine. Our new VP Technical, Chris Richings, is leading the effort, combined with Ausenco’s lead process engineer Richard Whittering.”
James Anderson, Chairman & CEO, said, “Ocean Partners has been our preferred metals trading partner since our first sale of precious metals concentrates back in 2021; they have always been first-in-line to offer support for our strategic initiatives as we continue to grow GSilver into a mid-tier producer of precious metals in Mexico.”
Heliostar Metals Ltd. is pleased to announce the appointment of Mr. Gregg Bush as Chief Operating Officer for the Company.
Endeavour Silver Corp. is pleased to announce the appointment of Elizabeth Senez as the Company’s Chief Financial Officer effective January 1, 2024. Ms. Senez brings over 20 years of extensive experience in accounting, corporate finance, and corporate treasury to her new role.
Golden Minerals Company is pleased to announce that on December 1, 2023, it completed the previously-announced sale of its interests in the Santa Maria gold-silver property located in Chihuahua State, Mexico to Transformaciones y Servicios Metalurgicos S.A. DE C.V.
John MacKenzie, Capstone’s CEO, commented, “I am pleased to share our first sustainability report for the combined Capstone Copper. Integral to our values, we are committed in our drive to direct our resources and the skills of our people to address some of the world’s biggest sustainability challenges.”
The Report, dated October 11, 2023 and titled “Santo Tomas Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment”, has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure of Mineral Projects.
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