MAG Silver Corp. reported strong financial results for the year ending December 31, 2024, with a net income of $77.8 million, driven by its Juanicipio mine’s performance. The company declared an inaugural dividend of $0.18 per share and achieved silver production of 18.6 million ounces. Key operational highlights include an improved silver recovery rate and strong cash flow from Juanicipio.
Bear Creek Mining Corporation announces that Andrew Swarthout and Sandra Daycock have retired from the Board of Directors.
Almaden Minerals Ltd. announces that it has filed its memorial submission relating to its international arbitration proceedings under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership with the United Mexican States.
Capstone Copper Corp. announces that it has successfully completed the pricing of its offering of $600 million aggregate principal amount of 6.750% senior notes due 2033.
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: “This accelerated payment to Glencore highlights our strong financial discipline and commitment to seeking out and capitalizing on opportunities to enhance shareholder value.”
Revenues for the full year of 2024 increased 72% to $14.9 million, an increase of $6.2 million compared to revenues reported in calendar year 2023 of $8.7 million. Cost of sales decreased 5%, or $567K, during the same period. This in-turn allowed gross profit to increase 204%, or $6.8 million.
The Company intends to apply the gross proceeds from the sale of the Notes to repay project financing debt at its Mantoverde S.A. subsidiary, to pay down debt on the Company’s senior secured revolving credit facility, and for general corporate purposes.
GoGold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets under which the Underwriters have agreed to buy on bought deal basis 41,210,000 common shares at a price of C$1.82 per Common Share for gross proceeds of approximately C$75 million.
Jody Kuzenko, President & CEO of Torex, stated: “The year-end 2024 mineral reserve estimate reflects the new base case for the Morelos Complex which, including first production from EPO in late 2026, solidifies annual payable production of at least 450,000 gold equivalent ounces through 2030 and a reserve life out to at least 2035.”
Heliostar Metals Ltd. is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and Velocity Trade Capital Ltd. as co-lead underwriters on behalf of a syndicate of underwriters pursuant to which the Underwriters have agreed to purchase on a bought deal basis 12,000,000 common shares of the Company at a price of C$1.00 per Share.
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