The contract has been awarded to a consortium headed by Grupo Mexico, the same company responsible of a major toxic spill in Sonora last year.
Takeover targets in the Mexican gold space are becoming thin on the ground after Timmins Gold (TSX: TMM) announced that it is acquiring Newstrike Capital (TSX-V: NES) in a transaction valued at $140 million.
Mexico’s massive precious-metals belts are some of the world’s finest.
Allegations are based on internal documents obtained from the Canadian Department of Foreign Affairs, Trade and Development (DFATD).
Investors in Mexico-focused Newstrike Capital (TSXV:NES) enjoyed a small bump today with the announcement of a takeover by Vancouver-focused Timmins Gold (TSX:TMM).
Armed men in Mexico have kidnapped at least 12 people in the southern state of Guerrero where 43 students were abducted last year.
"It’s newness and the grade in a brand new area is what is exciting."
Red metal output at the mine, over 18 months behind schedule and $750 million over budget, is expected to ramp-up by July.
Analyst downgrade sinks shares of Vancouver-based owner of fast-expanding polymetallic mines in Peru and Mexico.
McEwen Mining Inc. is pleased to announce Q4 and 2014 full-year production results.
According to the Conference Board of Canada, the province faces more than just a slowdown.
It produced over 4 million silver equiv. oz. in Q4, hitting an annual record of 15.25 million silver equiv. oz. for the year.
Timmins Gold (TSX: TMM; NYSE: TGD) has been looking at Goldgroup Mining’s (TSX: GGA) Caballo Blanco project in Mexico for a couple of years now, and has finally inked a deal to acquire 100% of the asset.
As part of the agreement, Paramount will spin off its non-Mexican assets into a standalone publicly listed company— Paramount Nevada Gold Corp.
In this interview with The Gold Report, Ecclestone explains that canny juniors are choosing past-producing properties, which boast dependable resources estimated by majors and already existing infrastructure. And he names two current gold producers he believes are woefully undervalued.
Takeover rumours are swirling about a proposed buyout of Paramount Gold (TSX:PZG) by the United States' largest silver producer.
The miner became the latest company to spin off non-core, underperforming assets.
A study of about 40 explorers budgeting at least US$50 million total shows the larger players allocated a total of US$4.33 billion and accounted for 40% of the US$10.74 billion worldwide exploration total.
German Larrea is purchasing stock in mining unit Southern Copper Corp. (SCCO) to reinforce confidence amid falling metal prices.
Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.
Paramount Gold and Silver Corp. announced Oct. 21 that new drilling at its 100%-owned San Miguel Project in northern Mexico is likely expanding the bulk minable resource in the San Francisco deposit.
Figure is based on preliminary assessments of the damage caused to water, flora, fauna, and wildlife, as well as official information on water quality.
The news represents a relief for local authorities, which have seen several projects halted in recent months.
Output for this year is expected to be between 40,000 and 60,000 ounces of gold, reaching 7,000 tonnes a day by 2018.
Local press is reporting the miner has already abandoned the operation, which was in its last year of active mine life.
So far Grupo Mexico has been charged with more than $3 million in fines, and could face more.
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