Crypto Mining Makes Millions for Gold Mining Maverick

Frank Giustra, a well regarded Canadian mining magnate who created one of the world’s most successful mining companies is now moving his operation digitally to mine Cryptocurrency.

Giustra has backed a Blockchain technology company called Hive Blockchain Technologies, which is among the first publicly traded stocks to provide exposure to crypto mining, and for Giustra, he is seeing huge returns.

Six fold returns

The mining mogul has seen rapid growth since entering the Bitcoin market, backing Hive which was previously known as Leeta Gold Corp.

The decision to dig for data servers has paid off as Hive’s shares have soared about 633 percent, giving it a market value of $443 mln since it took over the listing.

Giustra’s foray into the crypto space has been a successful one as he has help drive Hive to be one of the pioneers in terms of a listed crypto mining company.

Hive paid Hong Kong-based Genesis Mining, builder of the world’s largest Ether mining facility, $9 mln and gave it a 30 percent stake to acquire a new data center in Reykjanes, Iceland.


TORONTO, ONTARIO–(Marketwired – Sept. 29, 2017) –

All amounts are in United States dollars, unless otherwise stated.

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) (“Alamos” or the “Company”) today announced that the Company’s Board of Directors has declared a semi-annual dividend of US$0.01 per common share. This represents the Company’s 16th consecutive semi-annual dividend and once again demonstrates its commitment to returning value to shareholders.

The dividend is payable on October 31, 2017 to shareholders of record as of the close of business on October 16, 2017. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes.

U.S. Antimony Reports Major Antimony Cost Reductions

THOMPSON FALLS, MT / ACCESSWIRE / August 7, 2017 / United States Antimony Corporation (“USAC”) (NYSE American: UAMY) reported major cost reductions at its Mexican antimony smelter. As a result of metallurgical changes, the Company has drastically cut costs and increased production rates. The approximate reductions for fuel costs are 50%, electricity 55%, and reagents 75%. Maintenance and other costs are being evaluated. Extra manpower will be assigned to processing Los Juarez production. The Company expects to see these lower costs impacting the Company’s reported financials beginning in Q3 2017.

First Mining Finance Receives Approval To Graduate To TSX

VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 21, 2017) – First Mining Finance Corp. (“First Mining” or the “Company”) (TSX VENTURE:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) is pleased to announce that it has received approval from the Toronto Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange (the “TSXV”) and list its common shares on the TSX.

First Mining’s common shares will commence trading on the TSX effective as of the open of market on June 22, 2017. First Mining’s common shares will continue to trade under the symbol “FF” on the TSX. In conjunction with the graduated listing to the TSX, the Company’s common shares will be voluntarily delisted from the TSXV prior to their commencement of trading on the TSX on June 22, 2017.

Premier AGM And Investor Update June 22, 2017

PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to invite its shareholders and investors to meet its senior management and board of directors at its Annual and General Meeting to be held at 4:00pm EST on June 22, 2017 at the Board of Trade, 1 First Canadian Place, Toronto, Ontario. The AGM will be followed by a corporate presentation at 4:30pm EST (with webcast from the company’s website and a reception.

The presentation will include highlights of the Company’s expected production, development and exploration initiatives including:

  • Its wholly-owned Mercedes Mine in Mexico, and its 40% joint venture with Barrick at the South Arturo Mine in Nevada.
  • Exploration programs at McCoy-Cove and Goldbanks in Nevada.
  • An update on development plans of the Greenstone Gold Property, a 50-50 joint venture feasibility-stage project with Centerra Gold in northern Ontario.

Esto le debe el SAT a mineras canadienses

Goldcorp, McEwen Mining y Alamos Gold son algunas de las mineras canadienses a las que el órgano tributario no les ha devuelto impuestos, por lo que funcionarios de ese país presionan a México para que solucione el problema.

El Servicio de Administración Tributaria (SAT) retiene más de 360 millones de dólares en devoluciones de impuestos a seis mineras canadienses, incluyendo 230 millones de dólares a Goldcorp, según fuentes y documentos oficiales vistos por Reuters, un hecho que eleva la tensión entre el gobierno y las firmas que operan en el país.

En una serie de reuniones, funcionarios canadienses han presionado a México para que solucione el problema, que afecta la capacidad de inversión en operaciones y es particularmente difícil para las mineras y exploradores más pequeños con escasez de efectivo, dijeron personas familiarizadas con el asunto.

Excellon Reports First Quarter 2017 Financial Results and Update on Optimization Plan

TORONTO, ON–(Marketwired – May 10, 2017) – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT)(OTC: EXLLF) (“Excellon” or the “Company”) is pleased to report financial results for the three-month period ended March 31, 2017 and provide an update on the ongoing mine optimization plan (the “Optimization Plan”) at the Company’s Platosa Mine.

Q1 2017 Financial Highlights

  • Revenue of $3.4 million (Q1 2016 – $4.3 million)
  • Production of 205,314 silver equivalent (“AgEq”) ounces (Q1 2016 – 363,552 AgEq ounces)
  • Mine operating loss of $1.2 million (Q1 2016 – earnings of $0.4 million)
  • Adjusted net loss of $1.9 million or $0.03/share (Q1 2016 – adjusted net loss of $0.7 million or $0.01/share), excluding non-cash financing costs associated with outstanding convertible debentures (the “Debentures”) issued in November 2015
  • Cash, current accounts receivable and marketable securities totaled $5.7 million at March 31, 2017 (December 31, 2016 – $7.6 million)
  • Net working capital totaled $6.2 million at March 31, 2017 (December 31, 2016 – $8.6 million)
  • Sale of Osisko Mining Corporation (“Osisko”) common shares at CDN$5.29/share in early April 2017 for net proceeds of $3.3 million, realizing 350% gain since DeSantis Property sale transaction was announced in December 2015

Highlights on the Third Week of April, 2017. Mineral Exploration in Mexico

During the 16th week of the year (April 17th to April 23rd, 2017), at least 23 press releases were announced by companies working in Mexico. ON EXPLORATION, Riverside and Centerra commenced a drilling program in Sonora, while Evrim provided an update on work by First Majestic on its property, also in Sonora. In Chihuahua Kootenay announced its incoming drilling program is to focus on the expansion of the current resource. With three newly acquired projects in Guerrero and Oaxaca, Oz Minerals is to start exploration in Mexico. In Zacatecas Alset has started a drilling program for lithium, whereas in Sinaloa Santana Minerals released diamond saw trench results from two prospects. ON MINING, Fortuna Silver, Premier Gold, Sierra Metals, McEwen Mining, First Majestic and Hecla Mining presented first quarter 2017 production results. ON FINANCING, Prospero Silver secured a C$1.5 M strategic investment from Fortuna Silver, and Capstone Mining amended its senior secured corporate revolving credit facility. ON RESOURCES AND DEVELOPMENT, No relevant news this week. ON DEALS AND CORPORATE ISSUES, Fortuna Silver still is under a management cease trade order (MCTO), Timmins Gold is to change name to Alio Gold, Oz Minerals entered into an earn-in agreement for three properties with Acapulco Gold, and Source Exploration is to change name to Mexican Gold Corp.


  • Riverside Resources Inc. and partner Centerra Gold Inc. have commenced a 2,000 m diamond drilling program at its Glor gold project in Sonora. The first hole is collared between two trenches that yielded 105 m @ 0.49 g/t Au and 84 m @ 0.53 g/t Au. To date 3.4 km of trenches have been excavated at the project. New trench sampling results include 9 m @ 0.57 g/t Au, 12 m @ 0.47 g/t Au, 18 m @ 0.45 g/t Au, 6 m @ 0.47 g/t Au, 9 m @ 0.64 g/t Au.
  • Evrim Resources Corp. provided an update on recent activity at its Ermitaño project in Sonora, under option to First Majestic Silver Corp. Six additional holes have been completed by First Majestic, although the assays still have to be disclosed awaiting the completion of the company’s community engagement program. Holes 05, 06 and 07 intersected 9.0 to 19.8 m of vein stockwork, veins and healed milled breccia. Vein material and textures include colloform banded, chalcedonic and minor crystalline quartz, common adularia bands and quartz replacing bladed calcite, iron oxide after sulphide, manganese oxide and rare native silver.
  • Kootenay Silver Inc. announced the incoming drill program at its La Cigarra property in Chihuahua is to begin in two weeks. The program will focus on the expansion of the resource by first targeting an 800 m gap between Las Venadas zone and the south end of the resource on Las Carolinas zone.
  • OZ Minerals entered into an earn-in agreement with Acapulco Gold Corp. to explore three projects in southern Mexico: Zaachila, Riqueza Marina and Zapotitlán in Oaxaca. Under the agreement Oz is to make a first-year in-ground expenditure of US$450 K on detailed geological mapping, geochemistry and geophysics. Exploration is to commence immediately and drilling is expected to commence in the second half of 2017.
  • Alset Energy Corp. started drilling at its lithium property La Salada salar in Zacatecas. Two deep holes will test for brine horizons, sediment composition and depth to basement, followed by a shallow subsurface sampling.
  • Santana Minerals Ltd. released diamond saw trenching results at the La Plata prospect and diamond saw trenching results at the Santa Eduviges prospect, both within its Cuitaboca project in Sinaloa. Results include 2 m @ 78 g/t Ag; 1 m @ 1,995 g/t Ag; 5 m @ 242 g/t Ag; 7 m @ 131 g/t Ag at La Plata, and 3 m @ 2.9 g/t Au; 5 m @ 95 g/t Ag; 2 m @ 176 g/t Ag; 4 m @ 178 g/t Ag at Santa Eduviges.


  • Fortuna Silver Mines Inc. announced first quarter 2017 production results, including figures from its San Jose mine in Oaxaca. During the period 267.3 K tonnes were milled at 3,108 tonnes per day (tpd) rate, with an average grade 226 g/t Ag, 1.67 g/t Au and a recovery rate of 92.2% Ag, 91.3% Au, to produce 1.79 M Oz Ag.
  • Premier Gold Mines Ltd. presented production results for the first quarter 2017, including figures from its Mercedes mine in Sonora, where 22,164 Oz Au and 88,572 Oz Ag were produced in the period.
  • Sierra Metals Inc. reported first quarter 2017 production results, including figures from its Mexican operations. At Bolivar in Chihuahua, 243.9 K tonnes were processed (2,788 tpd) @ 1.03% Cu, 15 g/t Ag, 0.20 g/t Au, recovering 81.5% Cu, 78.5% Ag, 52.5% Au to produce 4.5 M Lb Cu, 94 K Oz Ag, 840 Oz Au. At Cusi, also in Chihuahua, 34.5 K tonnes were processed (395 tpd) @ 146 g/t Ag, 0.25 g/t Au, 1.2% Pb, 1.2% Zn, recovering 64.2% Ag, 57.9% Pb, 37.9% Zn to produce 104 K Oz Ag, 150 Oz Au, 761 K Lb Pb.
  • McEwen Mining Inc. reported production for the first quarter 2017, including figures from its El Gallo mine in Sinaloa, where 9,808 Oz Au were produced. The gold grade at the mine is projected to increase on the second half of 2017. At the end of the period the company was debt-free, with $28 M in cash, $8 M of precious metals and $16 M of marketable securities.
  • First Majestic Silver Corp. announced first quarter 2017 production results for its six mines in Mexico: Santa Elena in Sonora, La Encantada in Coahuila, La Parrilla in Durango, Del Toro in Zacatecas, San Martin in Jalisco and La Guitarra in Estado de Mexico. Figures on the next table:

First Majestic Q1 2017 production1

  • Hecla Mining Co. disclosed preliminary production for the first quarter of 2017, including figures from its operation at San Sebastian in Durango, where 750.8 K Oz Ag and 6,284 Oz Au were produced, with the mill working at 407 tpd. The mill is leased for 2018 and transition from open pit to underground mining is expected by the end of 2017. “Recent definition drilling on the Middle Vein has shown better continuity of high-grade within the reserve area and exploration drilling continues to define new high-grade material in the vicinity of the mine along the Middle and East Francine veins.” Cash, cash equivalents and short-term investments amount to $213 M.


  • Prospero Silver Corp. secured a C$1.5 M strategic investment from Fortuna Silver Mines Inc. Fortuna is to purchase Prospero shares for the amount cited (via private placement), and Prospero will allocate C$1.2 M to drilling selected projects and C$300 K to generative efforts in Mexico. By spending US$3 M in exploration of a selected property, Fortuna can a) Form a 51:49 joint venture on the selected property, b) Earn in a further 19% by spending further US$5 M in exploration on the selected property.
  • Capstone Mining Corp. amended its senior secured corporate revolving credit facility, reducing the credit limit to $350 M, and a staged reduction to $275 M by 2019. Capstone repaid $10 M on April 19, 2017, reducing drawn debt to $298 M while the cash balance is over $100 M..


  • No relevant news during the period.


  • Fortuna Silver Mines Inc. reports that the SEC’s review of the company’s 2015 annual filings is ongoing and it continues to work diligently and devote all necessary resources to address the SEC comments. The company is under a management cease trade order (MCTO), and expects to be able to complete the filing by May 5, 2017.
  • Timmins Gold Corp. is proposing to change its name to Alio Gold Inc. If the change is approved, it expects to begin trading on both the TSX and the NYSE MKT under the ticker ALO on May 16, 2017 (“The word Alio in Latin means ‘to go in a different direction’”).
  • OZ Minerals entered into an earn-in agreement with Acapulco Gold Corp. to explore three projects in southern Mexico: Zaachila, Riqueza Marina and Zapotitlán in Oaxaca. Under the agreement Oz is to make a first-year in-ground expenditure of US$450 K on detailed geological mapping, geochemistry and geophysics. Exploration is to commence immediately and drilling is expected to commence in the second half of 2017.
  • Source Exploration Corp. has filed documents to change its name to Mexican Gold Corp.

Content like what you have just read can be seen at and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, orogenic style quartz veining in sandstones, Central Chiapas. Photo by Jorge Cirett.

Quartz stockwork in sstones2, Cerro La Cotorra, near to sample 24216

Presentan iniciativa para deducir gastos en exploración minera

Ciudad de México.- Los Diputados del PRI por Sonora presentaron ante el pleno de la Cámara de Diputados la iniciativa propuesta por la Gobernadora Claudia Pavlovich, que busca deducir gastos en exploración minera con la adición de un párrafo al artículo 33 de la Ley del Impuesto Sobre la Renta; en tribuna, el Diputado Ulises Cristópulos, destacó que la Gobernadora Pavlovich está comprometida con el impulso al desarrollo económico de Sonora y México, por ello propone darle un empuje al crecimiento de la industria minera a través del restablecimiento de la deducibilidad de los gastos pre operativos de exploración.


TORONTO, ONTARIO–(Marketwired – April 3, 2017) – Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) (“Alamos” or the “Company”) today announced that it has completed the redemption of its outstanding US$315 million 7.75% Senior Secured Second Lien Notes (the “Notes”) due in 2020. This will result in annual interest savings of US$24.4 million.

The Notes were redeemed at a price of 103.875% of the principal amount plus accrued interest to the date of redemption. The Notes were retired with net proceeds of US$239 million from the equity financing completed in February 2017 along with existing cash.

“Alamos is once again debt-free and will benefit from substantial interest savings over the next several years with the retirement of these Notes. We have significantly strengthened our balance sheet and are well positioned to fund our portfolio of attractive internal growth opportunities,” said John A. McCluskey, President and Chief Executive Officer.