October 19, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), is pleased to announce that Goldcorp Inc. (TSX: G, NYSE: GG) has exercised its warrants that expire on October 19, 2017 for total proceeds to the Company of C$3.5 million. The Company has also exercised a buy-back right from Goldcorp of a 1% net smelter royalty (“NSR”) on its Ana Paula project located in Guerrero, Mexico for US$2.9 million.
“As we continue to advance the high grade, high margin Ana Paula project, the buy back of the 1% NSR is immediately accretive to the project and will deliver significant value to our shareholders over the long term,” said Greg McCunn, Chief Executive Officer. “We are advancing the Definitive Feasibility Study for the Project towards completion in Q2 2018 when we expect to make an investment decision to start construction. In parallel, we have initiated an exciting US$18 million exploration program at Ana Paula to investigate the extension of high-grade mineralization below the proposed open pit. Positive exploration results are expected to enhance already robust project economics, and it therefore made sense for us to exercise our buy-back right on the 1% NSR now. We would like to thank Goldcorp for their continued support of the Company through the exercise of the warrants.”
Toronto, Ontario – October 19, 2017 – Excellon Resources Inc. (TSX:EXN; TSX: EXN.WT) (“Excellon” or the “Company”) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation (“Cantor”) as sole bookrunner and together with PI Financial Corp. as co-lead underwriter, on its own behalf and on behalf of a syndicate of underwriters (together with Cantor, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,000,000 units of the Company (the “Units”) at a price of $2.00 per Unit for gross proceeds to the Company of approximately $10 million (the “Offering”). Each Unit will consist of one common share in the capital of the Company (each a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $2.80 at any time on or before December 31, 2018.
VANCOUVER, Oct. 18, 2017 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) (“Goldcorp”) today announced the completion of the previously announced sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico to Teck Resources Limited for cash consideration of $50 million. The closing follows receipt of Mexican anti-trust approval and the satisfaction of closing conditions customary in a transaction of this nature.
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
TORONTO, Oct. 18, 2017 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) reports consolidated production for Q3 2017 of 19,051 gold ounces and 749,749 silver ounces, or 29,047 gold equivalent ounces(1), using a 75:1 gold to silver ratio.
|Consolidated Production Summary
|Gold Eq. ounces
VANCOUVER, British Columbia, Oct. 17, 2017 (GLOBE NEWSWIRE) — First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (“First Majestic” or the “Company”) announces total production in the third quarter of 2017 from its six operating silver mines reached 4.0 million equivalent ounces of silver. Total production consisted of 2.4 million ounces of silver, 15,414 ounces of gold, 5.2 million pounds of lead and 0.9 million pounds of zinc.
“Consolidated production in the third quarter returned to higher levels compared to the prior quarter,” said Keith Neumeyer, President & CEO. “At La Encantada, improvements in throughput and silver grades allowed for a 62% increase in silver production. At Santa Elena and San Martin, total production at each operation beat guidance due to continued strong grades and higher recoveries. At La Parrilla, oxide production improved due to higher grade ore being sourced from the San Marcos mine. Lastly, as a safety precaution following two major earthquakes that struck near the La Guitarra mine in September, we temporarily suspended production for a total of eight days to allow for a full inspection of the operation. The inspection revealed no significant risks or damages allowing for the restart of production.”
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.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 16, 2017) – Fortuna Silver Mines, Inc. (NYSE:FSM)(TSX:FVI) is pleased to announce third quarter 2017 production results from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.0 million ounces of silver and 13,412 ounces of gold, plus base metal by-products. Silver and gold production for the first nine months totaled 6.2 million ounces and 41,158 ounces respectively; being 2 percent and 5 percent above the Company’s nine month projection. Fortuna is on schedule to produce 8.1 million ounces of silver and 52.4 thousand ounces of gold or 11.2 million Ag Eq1ounces in 2017 (see Fortuna news release dated January 11, 2017).
Third Quarter Production Highlights
- Silver production of 2,009,362 ounces; 4 % decrease over Q3 2016
- Gold production of 13,412 ounces; 5 % decrease over Q3 2016
- Lead production of 7,650,040 pounds; 3 % increase over Q3 2016
- Zinc production of 11,241,371 pounds; 6 % increase over Q3 2016
- Cash cost2 for San Jose is US$62.2/t
- Cash cost2 for Caylloma is US$76.0/t
COLORADO SPRINGS – October 16, 2017 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) reports preliminary production results for the third quarter ended September 30, 2017 of approximately 6,465 ounces of gold, 392,153 ounces of silver and significant base metals. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $110 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and
silver and take delivery.
Preliminary third quarter production totaled approximately 6,465 ounces of gold, 392,153 ounces of silver, 291 tonnes of copper, 1,449 tonnes of lead and 4,628 tonnes of zinc. Through the first three quarters of 2017, the Company’s preliminary production numbers total approximately 18,908 ounces of gold, 1,217,713 ounces of silver, 804 tonnes of copper, 3,583 tonnes of lead and 11,447 tonnes of zinc.
PREMIER GOLD MINES LIMITED (“Premier” or “The Company”) (TSX:PG) is pleased to announce preliminary third quarter production results from its two operating mines.
Q3 – 2017 Production Highlights include:
- Gold production of 26,677 ounces
- Silver production of 82,856 ounces
- Gold Sales of 37,920 ounces at an average realized price of US$1,282 per ounce
Table 1 – Preliminary Sales and Production Results
||GOLD PRODUCED (ounces)
||SILVER PRODUCED (ounces)
|South Arturo, Nevada (PG)
|Gold Ounces Sold
“Solid operating performance at Mercedes and South Arturo during the third quarter should allow us to meet the upper end of our 2017 annual production guidance,” stated John Begeman, Executive Chairman of Premier. “Despite having already surpassed original production expectations, recent definition drilling at South Arturo indicates the potential to continue mining the Phase 2 open pit, and studies supporting further development, including the underground extension of the Phase 2 Pit (El Nino) and two additional open pits are ongoing.”
VANCOUVER, British Columbia, Oct. 12, 2017 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V:OCO) (“Oroco” or “the Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 8,000,000 units at a price of $0.075 cents per unit to raise gross proceeds of up to $600,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months at a price of $0.125 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.
The proceeds of the private placement will be used for intended acquisitions of mineral properties in Mexico.