Primero Extends Revolving Credit Facility to December 22, 2017

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Primero Extends Revolving Credit Facility to December 22, 2017

(Please note that all dollar amounts in this news release are expressed in U.S. dollars unless otherwise indicated.)

TORONTO, ON–(Marketwired – December 15, 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 15, 2017. The maturity of the RCF has been extended to December 22, 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.

 

 

 

Bacanora Announces Strategic Cornerstone Investor and Offtake Agreement

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Highlights

  • New Institutional Investor agrees to acquire 19.89% interest in Bacanora
  • Follows highly favourable Feasibility Study which estimated a NPV8 of US$1.253 Billion
  • Provides entry into key Chinese market

 

Calgary, Alberta (FSCwire)BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX-V: BCN and AIM: BCN), the Canadian and London listed lithium company, is pleased to announce that NextView Capital (“NextView”), a leading Chinese institutional fund management group focused on new technologies and energy, has agreed to acquire a 19.89% equity interest (non-diluted) in Bacanora (the “Strategic Investment”) via the placement of 32,976,635 common shares in the Company (the “Placing”) at a price of 94.53 pence (approximately C$1.6223) per share (the “Placing Price”).  The £31,172,813 (approximately C$53,498,000) capital raised by the Placing will be used for the continued development of the Company’s Sonora Lithium Project.  The Placing Price represents the volume weighted average price of the Company’s shares on the AIM Market of the London Stock Exchange over the previous seven trading days.  The actual number of shares to be issued may be adjusted upwards at closing (to keep the total equity interest at 19.89%) in order to reflect any securities issuances (in particular, potential option exercises) occurring in the interim.  Ashanti Capital acted as lead broker for the Placing.

MAMMOTH RESOURCES ANNOUNCES CLOSING ON $720,000 PRIVATE PLACEMENT AND COMMENCEMENT OF DIAMOND DRILLING AT ITS TENORIBA GOLD-SILVER PROJECT, CHIHUAHUA, MEXICO

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Toronto, Canada (December 14, 2017) – Mammoth Resources Corp. (TSX-V: MTH), (the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of up to 8,000,000 units (the “Units”) of Mammoth at $0.09 per Unit, for gross proceeds of up to $720,000. Each Unit consists of one common share (a “Common Share”) and one common share purchase warrant (the “Warrant”) of the Company. Each Warrant will entitle the holder thereof to acquire one Common Share up to 18 months following closing of the Private Placement, at an exercise price of $0.13. The gross proceeds of the Private Placement will be used to diamond drill up to 3,000 metres testing up to 24 targets along a 5 kilometre trend of gold-silver mineralization at the Company’s Tenoriba, High Sulphidation gold-silver project in the Sierra Madre region of southwestern Chihuahua State, Mexico (refer to press release dated October 25, 2017) and for other working capital purposes.

KOOTENAY CLOSES $3.9 MILLION IN FIRST TRANCHE OF PRIVATE PLACEMENT

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Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce that further to its press release dated November 15, 2017, it has closed the initial tranche of its non-brokered private placement (the “Private Placement”) and has issued an aggregate of 19,549,480 units (each a “Unit”) at a purchase price of $0.20 per Unit for gross proceeds to the Company of $3,909,896. Each Unit consists of one common share (“Common Share”) and one-half of a transferable common share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.30 per share until December 13, 2020. Cash finder’s fees to arm’s length parties totaling $154,600 have been paid on this portion of the Private Placement.

The final tranche of the Private Placement to raise a further $109,000 by the issuance of an additional 545,000 Units is expected to close shortly, for aggregate total gross proceeds to Kootenay under the Private Placement of $4,018,896. The Company will announce the closing of the final tranche upon completion.

The net proceeds of the Private Placement will be used to fund the exploration and development of the Company’s La Cigarra project in Chihuahua State, Mexico, possible new acquisitions and for general working capital purposes.

Santacruz Silver Amends Terms of Option Agreement on the Veta Grande Project and Enters Option Agreement for its Zacatecas Mineral Assets with Carrizal Mining

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Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces that it has reached agreement with the Contracuña group of companies (“Contracuña”) to amend the terms of the Option Agreement (see press release dated June 21, 2017) to acquire 100% ownership of the Veta Grande Project, including the Veta Grande mine and milling facility as well as the Minillas property located in Zacatecas, Mexico.

Silver Viper Signs Non-Binding Letter of Intent to Acquire Core Claims of La Virginia Gold-Silver Project, Sonora, Mexico

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Vancouver, BC. Silver Viper Minerals Corp. (the “Company” or “Silver Viper”) (TSX-V: VIPR) is pleased to announce the signing of a non-binding Letter of Intent (“LOI”) on three mineral concessions forming the core of the La Virginia Gold-Silver Project (“La Virginia”), located in the Sierra Madre Occidental, 220 kilometres (“km”) east-northeast of Hermosillo, Sonora, Mexico.

Goldcorp Is A No-Brainer Buy On Weakness

Goldcorp Inc. (GG) has struggled with declining volumes, but that’s in the past. Its production has hit bottom and we will likely see the first signs of a recovery from next year. The company will likely post strong earnings growth from 2018 which will fuel the stock’s outperformance.

Goldcorp is one of the world’s largest gold producers, in terms of market cap and production. The company’s primary assets are the Éléonore, Musselwhite, Porcupine and Red Lake mines located in Canada, the Peñasquito mine in Mexico, and the Cerro Negro mine in Argentina. Goldcorp

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Source: SeekingAlpha (December 11, 2017 – 12:52 PM EST)

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Silver Spruce Receives Financing Mandate Letter from M Securities Limited in Hong Kong

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December 11, 2017 – Bridgewater, NS – (TSXVSE:SSE)(Frankfort S6Q) — Silver Spruce Resources Inc. (“Silver Spruce” or the “Company”) is pleased to announce that it has received a financing mandate letter from M Securities Limited (“Agent”), a full service, retail brokerage firm in Hong Kong, to provide up to US $1.8 million in gross proceeds from a private placement equity financing (“Offering”) of up to 30 million units (“Units”) at a price of US $0.06 per Unit. Each Unit consists of one common share of the Company (“Common Share”) and one Common Share purchase warrant exercisable at US$0.10 per Common Share for one year from the closing date of the Offering (“Closing”) The securities issued pursuant to the Offering will be subject to a four month + 1 day hold period from the date of Closing under applicable securities laws. A placement fee will be paid to the Agent by the Company. The Agent will receive 10% of the capital raised by the Agent and 1% of the capital raised by the Company under the Offering.

COLIBRI REPORTS SIGNIFICANT ASSAY RESULTS ON ITS PITAYA PROPERTY

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DIEPPE, N.B., Dec 11, 2017. (CBI: TSX-V) Colibri Resource Corporation (Colibri) is pleased to announce drill results for the Pitaya project, Sonora, Mexico as received from joint venture partner, Agnico Eagle Mines Limited (Agnico Eagle). Pitaya is a joint venture project with Agnico Eagle and is immediately adjacent to and on strike from Fresnillo’s Tajitos discovery, in which greater than 328,000 ounces of gold have been announced.  Agnico Eagle is the operator of the Pitaya Project and currently holds 66.33% of the joint venture with Colibri controlling 33.67%  Agnico Eagle has had two drills operating at Pitaya (see press release dated April; 10, 2017); a total of 7286.55 meters in 26 drill holes were drilled in the most recent campaign and assays
have been received for 23 holes to Nov. 30, 2017. Drilling is still in progress.

 

Corex Gold Announces Closing of Final Tranche of Financing

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Vancouver, BC – December 6, 2017, Corex Gold Corp. (“Corex” or the “Company) announces that further to its news releases of November 2, 2017 and November 27, 2017, the Company has received TSX Venture Exchange (“Exchange”) final approval and closed the non-brokered private placement by issuing an aggregate 23,275,000 units of the Company (the “Units”) at an issue price of $0.10 per Unit for gross proceeds of $2,327,500.