VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI) announces that it will release its financial statements and MD&A for 2017 after the market closes on Thursday, March 15, 2018.
GOLDEN, Colo., March 01, 2018 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American:AUMN) (TSX:AUMN) has today announced financial results for the full year ending December 31, 2017.
2017 Financial Highlights
- Cash and equivalents $3.3 million as of December 31, 2017, $0.7 million higher than the $2.6 million on hand as of December 31, 2016
- Received $1.0M in February 2018 for an amendment of the Celaya farm-out agreement
- Zero debt, unchanged from year end 2016
- Loss from operations narrowed by 39 percent to $3.9 million in 2017 from $6.3 million in 2016
- Net loss narrowed by 63 percent to $3.9 million in 2017 from $10.7 million in 2016
- Revenue of $6.7 million and operating margin of $4.5 million from the lease of Velardeña’s oxide plant to Hecla Mining Company (“Hecla”), compared to $6.4 million and $4.4 million, respectively, in 2016
- Received $1.9 million net cash from Hecla in exchange for granting an option to extend the lease of our oxide plant through 2020
- Generated an additional $2.6 million cash from the sale and farm-out of non-strategic properties and equipment and from Argentina tax refunds, and raised an additional $0.7 million from the issuance of common stock through the Company’s ATM program
Vancouver, February22, 2018—Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI)is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2017 for the Caylloma Mine located in Peru, the San Jose Mine located in Mexico and the Lindero Project in Argentina.
TORONTO, Feb. 22, 2018 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) today reported fourth quarter and full year results for the period ended December 31, 2017. For the year, McEwen Mining achieved production of 152,329gold equivalent ounces(1)(“GEOs”). Our consolidated net loss for 2017 was $10.6 million(2), or $0.03 per share. Net cash outflow during the year from operating activities was $15.4 million, principally due to higher exploration, development and operating expenses associated with our long-term growth plans. As of February 21, 2018 the Company had cash, investments and precious metals of $60 million and no debt.
Vancouver, January 17, 2018—Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI)is pleased to announce 2017 production figures from its two underground operating silver mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 8.5 million ounces of silver and 56.4 thousand ounces of gold or 11.9 million AgEq1 ounces.
2017 Consolidated Production Highlights
- Silver and gold production were 4 % and 8 % respectively above 2017 guidance
- Silver production of 8,469,593 ounces; 15 % increase over 2016
- Gold production of 56,441 ounces; 21 % increase over 2016
- Zinc production of 44,347,035 pounds; 3 % increase over 2016
- Lead production of 29,877,890 pounds; 9 % decrease over 2016
Note: 1. Silver equivalent is calculated using silver to gold ratio of 60 to 1
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.