Mr. Daniel Earle, President & CEO, commented: “We are very pleased to welcome a rising talent in the mining sector like Arun to our team. His expertise in project, market and transaction analysis will support our immediate efforts to explore opportunities to create value for shareholders around our flagship Warintza Project and in the other jurisdictions represented in our portfolio.”
Aztec Minerals Corp. announces the closing of its previously announced non-brokered private placement financing, consisting of 14,306,171 units of the Company at a price of C$0.18 per Unit for aggregate gross proceeds of C$2,575,110.78.
The integrated Mexican steel giant Altos Hornos de México (AHMSA) will face in two weeks the end of its judicial restructuring process of liabilities and so far without an agreement with its creditors, for which it will be declared bankrupt. In this process, they will seek to seel the company in a single package.
Chairman and CEO, James Anderson said, “As we continue to grow precious metals production, the Company has filed its preliminary base shelf prospectus in order to permit the widest possible financial flexibility for the ensuing 25-month period.”
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented, “Santacruz’s operations rebounded from Q1 2024, thanks to the hard work and dedication of all our teams. We processed a near record high of just over 500,000 tonnes of mineralized material.”
Mr. Dan Barnholden, CEO, commented, “We are extremely pleased with our progress at the Tahuehueto Gold Mine. Processing rates are currently averaging 450 tpd and we expect to steadily increase over the coming weeks to reach commercial production in September 2024.”
“An estimated after-tax NPV (5%) of more than US$1.1 billion, an after-tax IRR of 85.7% and a payback period of approximately nine months, helps solidify Panuco as a world class development project in the precious metals space,” commented Michael Konnert, President and CEO. “The PEA, based on conservative metals prices of US$26/oz silver and US$1,975/oz gold, outlines a high-margin, underground silver primary mine with substantial silver-gold production of 162.1 million silver-equivalent ounces over an initial 11-year mine life.”
“We are pleased with the latest results which show further potential in the South-East Deeps zone beyond what we will be including in our next reserve and resource estimates update, which we continue to expect to complete in the third quarter of 2024,” said Dale Andres, CEO of Gatos Silver.
This latest economic update of Cerro Las Minitas is the culmination of a number of technical improvements of the earlier PEA, developed over the last 18 months, which together result in a significant increase in the value of the Cerro Las Minitas asset.
“Construction is well past the halfway mark, and site activities are beginning to peak,” commented Don Gray, Chief Operating Officer. “We are very pleased with the advance at the Upper Platform, which should be ready for dry commissioning in Q3 2024. We are concentrating resources on the Lower Platform to finalize earthworks and begin concrete works in early Q3. Underground mine development continues advancing in line with expectations as we accessed ore in Q2.”
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