Endeavour Silver Corp. is pleased to announce that its wholly-owned subsidiary, Minera Plata Adelante SA de CV has closed the royalty sale with Gold Royalty Corp. As previously announced on July 31, 2023, MPA agreed to sell its interest in the 1% Cozamin royalty for total consideration of US$7,500,000, payable in cash.
Executive Chairman Bruce Bragagnolo stated “We are excited to showcase Regency and our new high grade gold-copper-silver discovery at our wholly owned Dios Padre Project in Sonora, Mexico. Drill results to date include REG-22-01 which intersects 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver along with 13.97 g/t Au, 50.25 g/t Ag and 1.11 % Cu over 9.8 m as well as REG-23-14 which intersects 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t Au. Indications are that Dios Padre is a large, long lived magmatic-hydrothermal Au-Cu-Ag system with multiple overprinting events.”
Andrew Swarthout, Director and Qualified Person, states, “Our 2023 drilling program at Mercedes has to date concentrated on improving operations and production in the current workings. We are very excited by the results of this underground drilling program, which have returned intercepts with gold grades substantially higher – in some cases up to 30 times higher – than the currently defined resources of the deposits in which they occur.”
Eric Caba, President & CEO, states, “During Q2 2023 the Company felt the brunt of development work delays, operating performance challenges, inflationary pressures, and foreign exchange factors that transpired during the first quarter. I want to stress that we are actively working to address and mitigate these factors to improve the Mercedes operation and the Company’s financial strength.”
Aztec Minerals Corp. announces that, further to its news release dated August 8, 2023, the Company has closed the first tranche of its non-brokered private placement consisting of 4,051,450 units at a price of CAD$0.225 per Unit for gross proceeds of CAD$911,576.
Mr. Mike Struthers (CEO of Luca) commented, “We’re excited to work with EnviroGold on this project, building on the initial test work in 2021. The encouraging results from those initial tests, plus the very real potential to also recover base metals from the tailings, could generate significant value from this old tailings facility. More importantly, if the initial project is successful, the potential to add this metals recovery stream to the existing plant could add considerable future value to Campo Morado.”
“This refinancing provides Orla with additional flexibility to lower its cost of capital while maintaining liquidity,” said Etienne Morin, Chief Financial Officer of Orla.
The Company maintains a strong balance sheet with $13.7 million in cash and no long-term debt. During the period, the Company completed a $9.0 million, non-brokered private placement and ended the quarter with working capital of $13.3 million.
Dale Wallster, CEO of Southern Empire, stated: “With Suaqui Verde, I believe that our team can create significant near-term value for Southern Empire shareholders. Copper, which has just been added to the U.S. Department of Energy’s List of Critical Materials, is now often referred to as the ‘new green metal’ as the electrification and decarbonisation of the world will not happen without it.”
“This PEA draws on the extensive expertise of our technical team in Mexico under the direction of our VP Operations, Jorge Diaz, who designed a mine plan which materially reduces upfront capital costs and increases throughput after year two with capital cost expansion financed exclusively from cash flow,” stated Ken MacLeod, President and CEO of Sonoro Gold.
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