TORONTO, ON–(Marketwired – February 27, 2017) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) (NYSE: PPP) is pleased to announce it has entered into a binding term sheet with Sprott Resource Lending Partnership (“Sprott”) for a $75 million three year term loan (“Debt Facility”). The Debt Facility is intended to refinance the Company’s existing $75 million revolving credit facility (“RCF”), of which $50 million is currently drawn, and partly for general corporate purposes. Sprott has concluded technical due diligence and the binding term sheet is subject to execution of definitive transaction documents, all regulatory and other third party approvals and satisfaction of other customary conditions precedent, the Debt Facility is expected to be closed this quarter.
Month: February 2017
Sierra Metals Discovers Significant New High-Grade Zone at Cusi Silver Mine in Mexico
TORONTO, Feb. 27, 2017 /CNW/ – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra Metals” or “the Company”) announces the discovery of new high grade silver intercepts occurring in the Santa Rosa de Lima complex located within the current Cusi Mine operational area. The Santa Rosa de Lima complex lies within a regional structure extending some 64 kilometers. Extension on the Cusi property has an anticipated length of 12 kilometers. The discovery comes as part of a reinterpretation of the Hydrothermal model and a drilling campaign consisting of 15,000 meters which began in December 2016. To date, the Company has drilled 10,200 meters or about 79% of the planned program which is expected to be completed by the end of March 2017. The Cusi Mine is located within the municipality of Cusihuiriachi in the central portion of Chihuahua State, Mexico. The mine area encompasses 11,657 hectares in the Sierra Madre Occidental Mountain Range.
Fortuna Silver Mines Updates Reserves and Resources
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 27, 2017) – Fortuna Silver Mines, Inc. (NYSE:FSM)(TSX:FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2016 for the Caylloma Mine located in Arequipa, Peru and for the San Jose Mine located in Oaxaca, Mexico. The combined year-end reserves and resources include the recently acquired Lindero gold Project located in Salta, Argentina.
Galore Resources Appoints New Vice President of Exploration and the Grant of Incentive Stock Options
Vancouver, BC / TheNewswire / Galore Resources Inc. (TSX-V: GRI) (the “Company”) is pleased to announce the engagement of Mr. Craig Byington of Clancy, Montana to act as Galore’s Vice President of Exploration and QP, and Mr. Octavio Gonzales as Regional Exploration Manager, Mexico.
Mr. Byington has developed experience as a President, V. P. of Exploration, Regional Exploration Manager, Project Supervisor, Production Geologist, Sr. Geotechnical Engineer, Consultant and Assistant Dean for Montana Tech’s School of Mines and Engineering. He holds a B.Sc. and a M.Sc. and is a Registered Professional Geologist and a registered Qualified Person.
Gold Resource Corporation Declares February Monthly Dividend
COLORADO SPRINGS, CO–(Marketwired – Feb 27, 2017) – Gold Resource Corporation (NYSE MKT: GORO) (the “Company”) declares its monthly instituted dividend of 1/6 of a cent per common share for February 2017 payable on March 23, 2017 to shareholders of record as of March 13, 2017. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.
The Company has returned $109 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.
Source Exploration Announces Appointment of Ali Zamani to Board of Directors
THUNDER BAY, ONTARIO–(Marketwired – Feb. 23, 2017) – SOURCE EXPLORATION CORP. (the “Company” or “Source”) (TSX VENTURE:SOP) (“Source” or “Company”) is pleased to announce the appointment of Mr. Ali Zamani to the Board of Directors of the Company, effective immediately.
Mr. Zamani brings extensive experience in business, finance, and governance of private and publicly-traded companies. He has served as the Managing Partner of Overlook Investments LLC since January 2016. Prior to Overlook Investments, Mr. Zamani served as a Portfolio Manager at Gefinor Capital Management and as Chief Investment Officer of the GEF Opportunities Fund from 2014-2015. From 2012-2013, Mr. Zamani was a Principal at SLZ Capital Management. Prior thereto, he was a Portfolio Manager at Goldman Sachs & Co from 2004 to 2012 responsible for managing the firm’s proprietary investments in publicly traded mining and materials companies. Prior to Goldman Sachs & Co, Mr. Zamani was an Investment Banker focused on mergers and acquisitions at Dresdner Kleinwort Wasserstein.
Mr. Zamani holds a B.S. in Economics from the Wharton School at the University of Pennsylvania, where he graduated magna cum laude. He currently serves on the Board of Directors of Applied Minerals Inc.
Pánfilo Natera Exploration Update
Click to access nr-2017-02-24-panfilo-exploration-update.pdf
Arian Silver Corporation (“Arian Silver” or the “Company”) is pleased to publish its latest set of results from the surface mapping and sampling programme at its wholly owned La Africana project, as first announced on 23 January 2017.
Source Exploration Announces Commencement of Las Minas Diamond Drilling and Exploration Program
THUNDER BAY, ONTARIO–(Marketwired – Feb. 24, 2017) – Source Exploration Corp. (the “Corporation” or “Source”) (TSX VENTURE:SOP) (the “Company”) is pleased to announce the commencement of a diamond drill program for the Las Minas gold – silver – copper project located at Veracruz, State, Mexico. The program will include an initial 2,000 to 3,000 metres of infill and step-out diamond drilling at the El Dorado – Juan Bran mineralized zone, with the objective of expanding the zone and completing a maiden NI 43-101 resource estimate in early 2017.
In addition, continued prospecting mapping, trenching and sampling will be carried out to test for extensions of existing mineralization and identification of new gold, silver and copper mineralization at the Pueblo Nuevo concession.
Santacruz Silver Mining to Transfer the El Gachi Property to First Majestic for US$2.5 Million
VANCOUVER, Feb. 24, 2017 /CNW/ – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (“Santacruz” or the “Company”) announces that it has signed a binding agreement (the “Agreement”) to transfer its interest in the El Gachi Property in Sonora State, Mexico to First Majestic Silver Corp. (“First Majestic”) for total consideration of US$2.5 million plus applicable VAT.
The El Gachi Property comprises a 48,057 hectare land package located adjacent to First Majestic’s Santa Elena Mine in Sonora State, Mexico.
Source Exploration Announces Appointment of Ali Zamani to Board of Directors
THUNDER BAY, ONTARIO–(Marketwired – Feb. 23, 2017) – Source Exploration Corp. (the “Company” or “Source”) (TSX VENTURE:SOP) (“Source” or “Company”) is pleased to announce the appointment of Mr. Ali Zamani to the Board of Directors of the Company, effective immediately.
Mr. Zamani brings extensive experience in business, finance, and governance of private and publicly-traded companies. He has served as the Managing Partner of Overlook Investments LLC since January 2016. Prior to Overlook Investments, Mr. Zamani served as a Portfolio Manager at Gefinor Capital Management and as Chief Investment Officer of the GEF Opportunities Fund from 2014-2015. From 2012-2013, Mr. Zamani was a Principal at SLZ Capital Management. Prior thereto, he was a Portfolio Manager at Goldman Sachs & Co from 2004 to 2012 responsible for managing the firm’s proprietary investments in publicly traded mining and materials companies. Prior to Goldman Sachs & Co, Mr. Zamani was an Investment Banker focused on mergers and acquisitions at Dresdner Kleinwort Wasserstein.