For second half 2017, the company is providing Los Filos mine production guidance of 95,000 to 110,000 ounces at an AISC/oz of $875 to $925.
The proceeds of the Incentive Program will be used for exploration and development of the Ana Paula Project and for working capital purposes.
The Company intends to use the minimum net proceeds of $3,500,000 from the Offering for greenfield drilling at the newly commenced producing mill at Plomosas high-grade zinc-lead-silver mine at Chihuahua, Mexico and working capital requirements and other general corporate purposes which includes legal and financing fees as part of this Offering.
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.
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