VANCOUVER, Sept. 8, 2016 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAA) (the “Company”, or “Pan American”) today announced that it has achieved important milestones at its two mine expansion projects currently underway in Mexico. At the Company’s La Colorada mine, the new 618-metre deep shaft was commissioned in fully automatic mode in early September, ahead of schedule. The shaft was constructed with a world-class safety performance of zero lost-time accidents incurred and using industry-leading raise boring and shaft automation technologies. The work remaining to complete the La Colorada expansion project includes a new filter plant, power line and underground development. The project is now expected to be completed approximately 5 to 10 percent under budget.
At the Company’s Dolores mine, the new 98 kilometre, 115 kV power line that connects the mine to the national power grid was energized in early September. The new power line was completed on budget and is expected to result in annual savings of about $9 million.
VANCOUVER, July 11, 2016 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) (“Pan American” or the “Company”), and Maverix Metals Inc. (formerly MacMillan Minerals Inc.) (TSXV: MMX) (“Maverix”), announced today that the Company and Maverix have completed a statutory plan of arrangement (the “Arrangement”) under Section 192 of the Canada Business Corporations Act.
Pursuant to the Arrangement, the Company acquired 42,850,000 common shares of Maverix (the “Common Shares”) for consideration of CAD$52,823,048 (US$40,240,000), based on the Bank of Canada noon exchange rate of 1.3127 on July 11, 2016, representing payment by the Company of approximately CAD$1.23 per Common Share, and 20,000,000 common share purchase warrants (“Warrants”) for consideration of CAD$2,625,400 (US$2,000,000), based on the Bank of Canada noon exchange rate of 1.3127 on July 11, 2016, representing cash consideration by the Company of approximately CAD$0.13 per Warrant.
VANCOUVER, July 11, 2016 /CNW/ – Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAA) (the “Company”) has today filed a preliminary short form base shelf prospectus with the securities commissions in each province and territory of Canada and a corresponding shelf registration statement with the United States Securities and Exchange Commission (the “SEC”). These filings, when made final, will allow the Company to make offerings of common shares, debt securities, subscription receipts, units, warrants, or any combination thereof of up to US$500 million (or the equivalent thereof in Canadian dollars) during the next 25 months to potential purchasers in each province and territory of Canada and the United States. The Company has filed this prospectus in order to provide the Company with greater flexibility going forward. The net proceeds from any such offerings could be used by the Company for general working capital purposes, and for one or more other general corporate purposes including to complete corporate acquisitions, to, directly or indirectly, finance future growth opportunities and to repay existing or future indebtedness.
ANCOUVER, July 6, 2016 /CNW/ – Pan American Silver Corp. (the “Company”) (NASDAQ: PAAS) (TSX: PAA) will announce its unaudited 2016 second quarter results on Thursday, August 11, after market close. A conference call and webcast to discuss the results will be held on Friday, August 12 at 1:00 pm ET (10:00 am PT).
TORONTO, May 05, 2016 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce consolidated quarterly production of 37,958 gold equivalent ounces(1) and earnings from mining operations of $19.5 million(2)(3) for the three months ended March 31, 2016 (“Q1”). The El Gallo Mine in Mexico had an outstanding quarter, producing at total cash costs and all-in sustaining costs (“AISC”) per gold equivalent ounce of $432 and $532, respectively. The San José Mine in Argentina also performed well, and as a result we received a dividend of $2.6 million from MSC(4) in the quarter, compared to a $0.5 million dividend received during all of 2015.
VANCOUVER, April 26, 2016 /CNW/ – Kootenay Silver Inc. (TSXV: KTN) (“Kootenay”) and Pan American Silver Corp. (TSX: PAA, NASDAQ: PAAS) (“Pan American”) are pleased to announce that, following the issuance of Kootenay’s common shares as consideration for Kootenay’s acquisition of Northair Silver Inc. (see Kootenay press release dated April 21, 2016) as well as Kootenay’s acquisition of the two and a half percent (2.5%) net smelter returns royalty from Coeur Capital, Inc. with respect to the future production of Kootenay’s La Cigarra project (see Kootenay press release dated March 29, 2016), Pan American has exercised its second tranche option to subscribe for additional common shares of Kootenay in order to maintain a ten percent (10%) ownership interest in Kootenay’s issued and outstanding shares (see Kootenay press release dated February 26, 2016) (the “Second Tranche Option“) in accordance with the Subscription Agreement dated February 15, 2016 entered into between Pan American and Kootenay, as amended (the “Subscription Agreement“). As a result, Pan American intends to subscribe for 6,793,550 additional Kootenay common shares for an aggregate subscription price of CAD$1,553,431 (the “Subscription Price“).
TORONTO, April 19, 2016 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce production highlights of the first quarter 2016 and one acquisition.
- Total production in Q1 was 37,958 gold equivalent ounces(1), a 14% increase over Q1 2015.
- Increased production guidance for 2016 to 144,000 gold equivalent ounces.
- Acquired the Net Smelter Return (NSR) royalty on our El Gallo Mine and El Gallo Silver deposit.
- Strong balance sheet: $43 million(2) in liquid assets and no debt!
TORONTO, April 18, 2016 /CNW/ – Pan American Silver Corp. (“Pan American“) and MacMillan Minerals Inc. (TSX-V:MMX) (“MacMillan“) are pleased to announce that they have entered into an arrangement agreement dated April 18, 2016 (the “Arrangement“) with Maverix Metals Inc. (“Maverix“), which when completed, will launch Maverix as a new publicly traded royalty and streaming company.