South America

Fortuna reports consolidated financial results for the second quarter 2016

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Vancouver, August 8, 2016– Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) today reported cashflow from operations of $12.7 million, revenue of $44.5 million, and a net loss of $1.4 million in the second quarter of 2016. Jorge A. Ganoza, President and CEO, commented, “We have had a strong operational and financial quarter with solid performance for the first half of the year. With San Jose now in commercial operation at 3,000 tpd, and capital requirements at our existing mines reduced significantly, we are poised to capitalize from the recovery in metal prices.” Mr. Ganoza continued, “The Company is now focused on advancing the recently acquired Lindero Gold Project into construction in 2017 with commercial production expected by the second half of 2018″

Sierra Metals Appoints Mike McAllister, Vice President of Corporate Development

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/963-tsx/smt/22344-sierra-metals-appoints-mike-mcallister-vice-president-of-corporate-development.html

TORONTO, July 15, 2016 /CNW/ –Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (“Sierra Metals” or the “Company”) is pleased to announce that it has appointed Mike McAllister as Vice President of Corporate Development effective immediately.

Mr. McAllister has served Sierra Metals as Director of Corporate Development since he joined the company in April 2015.  He has played an important role in the Company’s marketing, investor relations, communications and corporate strategy as Sierra embarked on a successful restructuring plan at its mines including a successful brownfield exploration program.

Mr. McAllister is a corporate development, investor relations and communications professional with over 6 years’ direct experience in Corporate Development and Investor Relations and 11 years in the metals and mining sector.

Fortuna Reports Production of 1.6 Million Ounces of Silver and 9,365 Ounces of Gold for the Second Quarter 2016

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/871-tsx/fvi/22168-fortuna-reports-production-of-1-6-million-ounces-of-silver-and-9-365-ounces-of-gold-for-the-second-quarter-2016.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 12, 2016) – Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI) is pleased to announce second quarter production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver and 9,365 ounces of gold plus base metal by-products. Silver and gold production for the first six months of the year totaled 3.2 million and 18,629 ounces respectively; being 7 percent and 10 percent above the company’s mid-year projection. Fortuna’s production guidance for 2016 is 7.0 million ounces of silver and 42.8 thousand ounces of gold or 9.6 million ounces of Ag Eq*

Pan American Silver Corp. – Early Warning Report

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http://www.stockhouse.com/news/press-releases/2016/07/11/pan-american-silver-corp-early-warning-report

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.

 

Pan American Silver Files Base Shelf Prospectus and Registration Statement

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http://www.stockhouse.com/news/press-releases/2016/07/11/pan-american-silver-files-base-shelf-prospectus-and-registration-statement

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.

Fortuna Announces Changes in Management

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/871-tsx/fvi/22095-fortuna-announces-changes-in-management.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 11, 2016) – Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM)announces that Dr. Thomas I. Vehrs has voluntarily retired as Vice President of Exploration of the company.

Jorge A. Ganoza, President and CEO, commented, “Tom joined Fortuna in 2006 bringing exceptional capabilities to our organization. Through his commitment to high working standards and valuable contributions, our company has achieved important milestones and objectives.” Mr. Ganoza continued, “On behalf of the Board of Directors, management and shareholders, I would like to thank Tom for his outstanding dedication and service to Fortuna.”

The company is pleased to announce the appointment of Mr. David Volkert as new Vice President of Exploration effective August 8, 2016. David is a discovery oriented professional with multiple discoveries over his thirty-eight years in mineral exploration. David’s work experience includes senior positions as CEO at Paget Minerals Corp., VP Exploration at Bear Creek Mining Corp., and Exploration Manager (Peru) at Barrick Gold. David will be responsible for leading the discovery of new mineral resources through the planning and execution of Fortuna’s brownfields and greenfields exploration programs.

Pan American Silver to announce its unaudited 2016 second quarter results on August 11

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http://www.stockhouse.com/news/press-releases/2016/07/06/pan-american-silver-to-announce-its-unaudited-2016-second-quarter-results-on

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).

 

México lidera caída de inversión en la exploración minera en AL

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http://www.elfinanciero.com.mx/empresas/mexico-lidera-caida-de-inversion-en-la-exploracion-minera-en-al.html

En 2015, la inversión en exploración de minas en México fue de 552 millones de dólares, lo representó una baja de 31 por ciento comparado con un año antes y la mayor caída entre los países de Latinoamérica.

Información de la Camimex, muestra que en Perú solo bajó 3.2 por ciento la inyección de capital en la búsqueda de nuevos yacimientos, mientras que en Chile (país líder en la producción de cobre) y en Brasil se redujo en 19.3 por ciento, en ambos casos.

McEwen Mining Q1 2016 Operating & Financial Results

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http://globenewswire.com/news-release/2016/05/05/836879/0/en/McEwen-Mining-Q1-2016-Operating-Financial-Results.html

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.

Pan American Invests in Kootenay Silver to Maintain 10% Ownership

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/621-tsx-venture/ktn/19004-pan-american-invests-in-kootenay-silver-to-maintain-10-ownership.html

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“).