Month: December 2017

Primero Extends Revolving Credit Facility to December 15, 2017

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PR27-17_RCF_Extension_2_Final-800e9e2be82e8578ac1a191dec09f75b

TORONTO, ON–(Marketwired – December 01, 2017) – Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) today announced that the Company has agreed with its lenders to an extension of its revolving credit facility (“RCF”) and guarantee provided by Wheaton Precious Metals Corp., previously maturing on December 1, 2017. The maturity of the RCF has been extended to December 15, 2017, providing the Company with the ability to continue negotiations surrounding its previously announced strategic review process and the possible divestiture of its San Dimas mine in Mexico. There can be no certainty that these discussions will result in a resolution acceptable to all stakeholders.

Ethos Gold Corp. Announces Option to Acquire La Purisma Property

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Ethos_011217

VANCOUVER, British Columbia, Dec. 01, 2017 (GLOBE NEWSWIRE) — Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) is pleased to announce that it has, through its Mexican subsidiary Compañía Minera Roca Dorada, S.A. de C.V. (“Roca Dorada”) entered into an option agreement for (the “Option Agreement”) with Coztic Recursos Minerales, S. de R.L. de C.V. (the “Property Owner”) to earn a 100% right, title and interest in and to the mineral concessions comprising the “La Purisima” mineral property situated in the municipality of Buenaventura, Chihuahua, México (the “Property”), subject to the Property Owner being entitled to a 2.0% net smelter return royalty upon the Company earning 100% interest in the Property on the terms set out in the Option Agreement.

AuKing meets with Senior Mexican Mining Officials

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AuKingmeetswithSeniorMexicanMiningOfficials

Earlier today, representatives of AuKing Mining Limited (“AuKing”) met with senior mining industry officials from Mexico who are attending the IMARC mining conference in Melbourne. These Mexican officials included:

• Mr. Mario Cantú, Deputy Minister of Mining, Government of Mexico
• Dr. Israel Gutiérrez, CEO of the Mexico´s Mining Development Bank (FIFOMI)
• Mr. Raúl Cruz Ríos, CEO of the Mexico´s Geological Survey (SGM)
• Mr. Esau Garza, Commissioner of Mexico´s Trade Promotion Agency
(ProMexico) and Mexican Embassy in Australia.

Magellan Completes Purchase of SDA Mill, Mexico

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magellan-completes-purc

Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or “the Company”) is pleased to announce that on November 30, 2017, it completed the purchase of the SDA Mill, Nayarit State, Mexico, from Rose Petroleum plc (AIM: ROSE).

Total consideration for the purchase of the SDA Mill was US$1.5 million, consisting of $1.0 million in cash and $500,000 in Magellan stock, of which $100,000 in cash was paid in June 2017. In August 2017, Magellan arranged $900,000 in bridge loans in support of the purchase.