Torex Reports Second Quarter 2017 Financial And Operational Results

https://www.torexgold.com/news/torex-reports-second-quarter-2017-financial-and-operational-results

TORONTO, Ontario, August 10, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to report production of 74,487 ounces of gold and its financial results for the second quarter of 2017, as ramp-up continues at its El Limón Guajes Mine (ELG) in southwest Mexico. This release should be read in conjunction with the Company’s second quarter 2017 Financial Statements and MD&A on the Company’s website or on SEDAR.

Fred Stanford, President & CEO of Torex stated: “Q2, 2017 was an excellent operating quarter, with significant progress made in the ramp-up of the operations. The processing plant team increased throughput by 26% over Q1, and effectively achieved design throughput levels in June. The mining team increased production by 30% over Q1. Operating costs per tonne were within 2% of target and recoveries at 86%, were consistent with design expectations at the grade processed. The costs per ounce sold were significantly affected by the timing of revenues and the grade processed in the quarter. There were approximately 10,000 ounces ‘produced’ in the quarter, for which, based on timing of shipments, revenue was not received.

GOLDEN MINERALS PROVIDES BUSINESS UPDATE

http://www.goldenminerals.com/pdfs/GLDN_InvestorKit/Press-Release-Aug-9-2017-Golden%20Minerals%20Business%20Update.pdf

GOLDEN, CO, August 9, 2017 (GLOBE NEWSWIRE)  ‐‐  Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American and TSX: AUMN) is pleased to share a business update, including:
 New property acquired expanding the footprint of the Santa Maria project holdings
 2,000 meters drilling planned to test the strike extension of the Santa Maria vein system
 Manager of Operations hired for Mexico
 Results from Celaya project show, in three of seven holes recently drilled, intercepts of quartz vein material carry gold and silver grades that are within the range of economic interest
 New option agreement recently announced with Hecla to extend the lease of the oxide processing plant at the Company’s Velardena Properties

Avino Reports Q2 2017 Financial Results

http://www.avino.com/s/news.asp?ReportID=798853

Avino Silver & Gold Mines Ltd. (ASM: TSX-V, ASM: NYSE-MKT, GV6: FSE, “Avino” or “the Company”) is pleased to announce the consolidated financial results for the Company’s second quarter ended June 30, 2017. The financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.avino.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Effective January 1, 2017, the Company changed its presentation currency to US dollars from Canadian dollars. As a result, all dollar amounts in this news release are expressed in US dollars, unless otherwise noted.

“We are pleased to have achieved another productive quarter with strong financial and operational results. Our focus continues to be our expansion plans at the Avino mine with the addition of Mill Circuit 4, as well as a planned underground drill program at the Bralorne Mine to better define the resources above and below the 800 level. We are confident that the implementation of these important plans will continue to support the Company’s growth efforts. We appreciate the support and dedication of our teams in Mexico and Canada, who continue to maintain efficiencies at our operations.”

– David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Coeur Reports Second Quarter 2017 Results

http://investors.coeur.com/Cache/1500101776.PDF?Y=&O=PDF&D=&FID=1500101776&T=&IID=4349317

Chicago, Illinois – July 26, 2017 – Coeur Mining, Inc. (the “Company” or “Coeur”) (NYSE: CDE) today reported second quarter 2017 financial results, posting revenue of $173.4 million, net loss of $11.0 million, or $0.06 per share, and adjusted net loss1 of $2.5 million, or $0.01 per share. Second quarter cash flow from operating activities was $29.3 million, adjusted EBITDA1 was $33.4 million, and free cash flow1 was $(8.2)
million. Second quarter results reflect significantly higher levels of investment in long-term growth through exploration expense and capital expenditures as well as a $9.3 million one-time expense from the early retirement of debt.

Torex Announces the Results of its 2017 Meeting of Shareholders

https://www.torexgold.com/news/torex-announces-the-results-of-its-2017-meeting-of-shareholders

TORONTO, Ontario, June 21, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the results of its 2017 annual and special meeting of shareholders (the “Meeting”) held in Toronto, Ontario on June 21, 2017.

Item 1. Election of Directors

At the Meeting, all director nominees listed in the Company’s management information circular (the “Circular”) dated May 11, 2017, were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

Director Vote Type Number of Votes Percentage of Votes
A. Terrance MacGibbon For
Withheld
36,317,391
1,601,756
95.78
4.22
Andrew Adams For
Withheld
37,844,570
74,577
99.80
0.20
James Crombie For
Withheld
30,171,781
7,747,366
79.57
20.43
Frank Davis For
Withheld
37,899,860
19,287
99.95
0.05
David Fennell For
Withheld
37,063,140
856,007
97.74
2.26
Michael Murphy For
Withheld
34,101,581
3,817,566
89.93
10.07
William M. Shaver For
Withheld
37,802,348
116,799
99.69
0.31
Elizabeth A. Wademan For
Withheld
37,910,285
8,862
99.98
0.02
Fred Stanford For
Withheld
37,910,268
8,879
99.98
0.02pre

Torex Delivers Very High Grade Sub-Sill Ore to the Processing Plant

https://www.torexgold.com/news/torex-delivers-very-high-grade-sub-sill-ore-to-the-processing-plant

TORONTO, Ontario, June 21, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that, on schedule, the Sub-Sill Access Ramp has entered into the high grade mineralization at its Sub-Sill underground deposit associated with its El Limon-Guajes Mine in southwest Mexico. The first 260 tonnes of ore from the Sub-Sill were delivered to the processing plant yesterday. A random sample from each truck load of ore from this first ‘round’ into mineralized Sub-Sill skarn, returned an average grade of 98 g/t Au.

Fred Stanford, President & CEO of Torex stated: “Going from discovery to first tonnes processed in less than eight months is a testament to the planning ability and the execution skills of our team. The quality of the asset speaks for itself. Infill and step-out exploration drilling programs for the Sub-Sill are ongoing. A mine plan is expected to be published after the infill drill program is completed, the resource estimate is updated, and a maiden Sub-Sill reserve is determined. This is all scheduled to occur by the end of the year.”

Premier AGM And Investor Update June 22, 2017

https://www.premiergoldmines.com/news/press-releases/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 www.premiergoldmines.com) 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.

Torex Sub-Sill Infill Drilling Demonstrates The Continuity Of High Grade Gold Mineralization

https://www.torexgold.com/news/torex-sub-sill-infill-drilling-demonstrates-the-continuity-of-high-grade-gold-mineralization

TORONTO, Ontario, June 19, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce high grade intercepts for the first 25 holes of its infill drilling program at the Sub-Sill deposit, associated with its El Limon-Guajes Mine (ELG) in Southwest Mexico. Highlighted intercepts from this program include 39.1 g/t Au over 9.7m, including114.1 g/t Au over 2.9m, in borehole SST-49; 107.3 g/t Au over 3.1m in borehole SST-50; 32.1 g/t Au over 13.0m, including 68.9 g/t Au over 4.0m in borehole SST-54; and 27.3 g/t Au over 14.8m, including 62.1 g/t Au over 4.9m in borehole SST-47.

Fred Stanford, President & CEO of Torex stated: “The purpose of this infill diamond drill program is to upgrade a million tonnes of Inferred Sub-Sill resource to the Measured and Indicated categories, to facilitate mine planning and the determination of a maiden mineral reserve. Of the 50 planned infill diamond drill holes, 41 have been completed to date, and assays have been received for 25 of those holes. To date, the ‘hit ratio’ has been 96%, with 24 holes intercepting high grade gold mineralization. This exceptional demonstration of the continuity of the gold mineralization has held true across the current resource area, including at the periphery. This bodes well for the mine planning efforts and indicates the potential for resource expansion with step-out drilling. The timing is excellent as the access ramp is now through the sill and progressed 40 meters into the less prospective endoskarn, and is less than 10 meters from intersecting the highly prospective exoskarn.” He added, – “The step-out diamond drill program is getting underway as the infill program is completed. The step-out program comprises approximately 7,500 meters in 31 holes that test the area adjacent to the current resource and then out to the periphery of the prospective area for Sub-Sill expansion. This drill program is expected to be completed through the second half of the year and we look forward to sharing those results.”

Torex Announces Amendment To Shareholder Rights Plan

https://www.torexgold.com/news/torex-announces-amendment-to-shareholder-rights-plan

Toronto, Ontario, June 12, 2017 — Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announces that the Company has amended certain terms of the proposed amended and restated shareholder rights plan agreement (the “Plan”) to be presented for approval at the annual and special meeting of shareholders of Torex scheduled to be held on June 21, 2017. The amendment was made in response to comments from ISS Proxy Advisory Services, a branch of Institutional Shareholder Services Inc. (“ISS”), a proxy voting advisory and corporate governance services firm.

Highlights on the First Week of June, 2017. Mineral Exploration in Mexico

During the 22nd week of the year (May 28th to June 4th, 2017), at least 25 press releases were announced by companies working in Mexico. ON EXPLORATION, in Sonora Canuc signed an agreement with the San Javier ejido, Riverside regained control of the Thor copper project and San Marco Resources started drilling the Chunibas project. Prospero Silver is to drill test its Santa Maria project in Durango and the Petate and Pachuca Southeast projects in Hidalgo. Vangold is acquiring three properties in Guanajuato and Queretaro. Kootenay completed three holes at La Cigarra in Chihuahua. Mexican Gold is obtaining high grade gold results on the recently acquired properties in Las Minas, Veracruz.  ON MINING, Santacruz, Impact and Marlin reported Q1 2017 operating and financial results. Starcore presented Q4 2017. Great Panther commissioned the refurbished processing plant at Topia, in Durango. Mexus has a new crusher for its Santa Elena mine in Sonora. ON FINANCING, Osisko invested $3.3 M in Minera Alamos, Sonoro received the balance of the $4 M for the sale of La Chipriona in Sonora, and Torex signed a secured $400 M debt facility. ON RESOURCES AND DEVELOPMENT, Avino filed the PEA of its Avino property at SEDAR. Americas Silver is confirming and extending mineralization at its Cosala property in Sinaloa. Consolidated Zinc presented the over-limits results from drilling at Plomosas, Chihuahua. ON DEALS AND CORPORATE ISSUES, Vangold is acquiring seven claims in Guanajuato and Queretaro. Magellan made an extension payment on a MOU to acquire a flotation plant in Nayarit.

ON MEXICO ISSUES

  • No relevant news.

ON EXPLORATION

  • Canuc Resources Corp. announced the signing of a surface use agreement with the San Javier ejido at its San Javier project in Sonora. “The Agreement calls for exploration on 300 hectares of land and also provides binding terms for exploitation (mining) on an area of up to 1,000 hectares. The Agreement requires Canuc to pay $35,000 USD per year during exploration activities and up to $135,000 USD per year during the exploitation phase. The Agreement is binding and has a 25 year term with an additional 5 years provided under Agrarian Laws.”
  • Prospero Silver Corp. has appointed a drilling contractor for its 6,000 m program in late June, which is to cover three projects: Santa Maria del Oro, in Durango; Petate in Hidalgo; and Pachuca Southeast in Hidalgo.
  • Vangold Mining Corp. has entered into agreements to acquire seven mining claims that cover the Patitos, Analy and El Ruso prospects in Guanajuato and Queretaro. The sevcen claims totaling 2,798 hectares have high grade assay results on sampling by the vendors.
  • Kootenay Silver Inc. has completed the first three holes of a 7,500 m core drilling campaign at its La Cigarra property in Chihuahua. Drilling continues on the eastern part of Las Venadas zone, which currently is 400 x 200 m in size. Rock sample results have grade up to 482 g/t Ag in this area.
  • Mexican Gold Corp. reported rock sampling results on its recently acquired Pueblo Nuevo concession adjacent to its Las Minas project in Veracruz. The sampling was carried out on the Tamiagua 1 and 2 veins and on the Dos Rios vein. Results include 0.25 m @ 24.8 g/t Au, 0.22 m @ 23.4 g/t Au; 0.25 m @ 9.5 g/t Au; 0.2 m @ 13.5 g/t Au; 0.5 m @ 5.9 g/t Au; 0.4 m @ 4.9 g/t Au; 0.2 m @ 13.7 g/t Au; 0.2 m @ 13.6 g/t Au.
  • Riverside Resources Inc. has regained 100% interest on the Thor copper project in Sonora, as the company’s joint-venture partner Antofagasta PLC has elected not to continue with the required investment to advance the property. The first four diamond holes in the property confirmed the concept, with three intersecting quartz-sericite-pyrite stockworks.
  • San Marco Resources Inc. has started diamond drilling at its Chunibas project in Sonora, aiming to confirm high grade mineralization within shear veins and test the presence of broad haloes of lower grade Au-Ag within sericite-Fe carbonate altered wall rocks. The drill holes are to probe three targets over 1.5 Km of strike length.

ON MINING

  • Santacruz Silver Mining Inc. reported its Q1 operating and financial results for 2017. At Rosario in San Luis Potosi, 18,723 tonnes were processed @ 66 g/t Ag (226 g/t AgEq) with a silver recovery of 86%, to produce 34.5 K ounces Ag, 195 Oz Au, 45 tonnes Pb, 382 tonnes Zn. At Veta Grande in Zacatecas 26.7 K tonnes were processed @ 117 g/t Ag (209 g/t AgEq) with a silver recovery of 57% to produce 57.6 K Oz Ag, 131 Oz Au, 99 tonnes Pb, 177 tonnes Zn. Cash cost per AgEq Oz was $19.55 and AISC per AgEq Oz was $24.56. The Rosario mill in San Luis Potosi is to work during the next few months with ore from the Membrillo vein (optioned from Grupo Mexico), The Cinco Estrellas property and the Rosario mine. At Veta Grande, Zacatecas, the mill is to be fed by the Chorros, Veta Grande and the Garcia mines.
  • Starcore International Mines Ltd. presented production results for the fourth quarter 2017, period during which 65.8 K tonnes of ore were milled at its San Martin mine in Queretaro, during the first quarter 2017. The average grade was 1.82 g/t Au, 13.5 g/t Ag, with recoveries of 81.9% and 49.7% for gold and silver respectively, to produce 3,365 AuEq Oz.
  • Impact Silver Corp. released financial and production results for the first quarter 2017. The Guadalupe mill was fed ore from the San Ramon Deeps, Cuchara and Mirasol mines at its Zacualpan property in Estado de Mexico. The average mill feed was 177 g/t Ag, producing 230.3 K Oz Ag, while ore production stood at 542 tonnes per day (tpd). The cash position at the end of the quarter was $7.6 M.
  • Marlin Gold Ltd. announced financial results for the first quarter 2017. During the period the company had revenues of $32.6 M, producing 15,556 Oz Au and selling 20,401 Oz Au. Cash and finished gold amount to $5.8 M.
  • Great Panther Silver Ltd. completed the commissioning phase of the refurbished processing plant at its Topia mine, in Durango. The plant is now operating at planned capacity. The company continues to work with the government on the permitting of the phase II tailings storage facility. Run of mine ore is now being processed along with the stockpiled ore.
  • Mexus Gold US. Received a jaw crusher for its Santa Elena mine in Sonora (not to confuse with First Majestic’s Santa Elena mine, also in Sonora). The company intends increase its mining rate to 10,000 tonnes per day.

ON FINANCING

  • Minera Alamos Inc. announced Osisko Gold Royalties Ltd. has purchased on a private placement basis Minera Alamos shares for gross proceeds of $3.3 M. Osisko now owns 19.9 % of Minera Alamos shares. An additional private placement has been announced, same that is intended to raise up to $3.5 M in gross proceeds (La Fortuna, Durango).
  • Sonoro Metals Corp. has received the balance of the $4 M proceeds from Agnico Eagle Mines Ltd., for the sale of the Chipriona project in Sonora. Sonoro has now no further interest in the Chipriona concessions, save for the retention of a 1% NSR, same that can be purchased for $1.5 M.
  • Torex Gold Resources Corp. announced the signing of a binding commitment letter with various lenders in connection with a secured US$400 M debt facility. The Loan facility will be available by way of a US$300 M term loan and a US$310 M revolving loan facility (El Limon-Los Guajes, Guerrero)

ON RESOURCES AND DEVELOPMENT

  • Avino Silver & Gold Mines Ltd. has filed the technical report on the Avino property (in Durango) with SEDAR. The report covers the preliminary economic assessment for the re-treating of the Avino mine tailings, including the resource estimates up to the end of 2016.
  • Americas Silver Corp. reported that infill drilling at its Cosalá operations in Sinaloa confirmed the San Rafael Main Zone model, with mineralization extending for further 350 m. Drilling has started at Los Manueles zone.
  • Consolidated Zinc Ltd. confirmed the final assay results of the high grade Zn and Pb mineralization on the initial six holes on the Tres Amigos target at its Plomosas property in Chihuahua. The intervals with over-limits in Zn returned 1.5 m @ 26.3% Zn, 0.6% Pb, 52 g/t Ag; 1.85 m @ 32.6 % Zn, 0.3% Pb, 3 g/t Ag.

ON DEALS AND CORPORATE ISSUES

  • Vangold Mining Corp. has entered into agreements to acquire seven mining claims totaling 2,798 hectares in Guanajuato and Queretaro. A 100% interest on the claims is to be acquired for an aggregate C$10 K and 3,375,000 Vangold shares, with the vendors keeping a 2.5% net smelter return, of which half can be re-purchased for C$500 K.
  • Magellan Gold Corp. has made a further $100 K option payment for a 60 day extension on its memorandum of understanding (MOU) with Rose Petroleum PLC. The MOU gives Magellan the right to purchase an operating flotation plant in Nayarit for a total consideration of $1.5 M. The $100 extension payment will be credited against the purchase price if the transaction closes.

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

On the center of the picture below, a felsic dike protruding from the lower volcanic group andesites on the Cañada del Güerachi in Chihuahua. The ignimbrites of the upper volcanic group rest on top of the andesites. Photo by Jorge Cirett.

Guerachi