While it firmed up a rosier gold production profile for the rest of 2011, AuRico outlined plans that would drive up gold output in 2012.
Mexico Mining News
Great Panther Silver Limited (TSX:GPR)(NYSE Amex:GPL) announced the acquisition of four mining concessions, totaling 1,514 hectares, approximately 10-15 kilometres northeast of Guanajuato, Mexico.
M3 Engineering and Technology Corporation contracted for Preliminary Economic Assessment of Cieneguita Silver and Gold project
Further to its press release of June 29th, 2011, Pan American Goldfields Ltd. (OTCBB: MXOM) has entered into an agreement with M3 Engineering and Technology Corporation for the execution and completion of a NI 43-101 compliant Preliminary Economic Assessment (PEA) for its 80% owned Cieneguita silver and gold project in Chihuahua state, Mexico.
We made our first purchase of First Majestic Silver Corporation (FR:TSX || AG:NYSE) on 9th Feb 2011 at $13.13 and decided to hold despite a rapid rise in the order of 92% gained within two months of purchase. As we can see from the chart the stock price has eased along with the correction in silver prices.
Reuters reported that Scorpio Mining's (TSE:SPM) second quarter silver recovery doubled. Continue reading... Image by Scorpio Mining
Northgate Minerals announced on Wednesday that it will acquire Primero Mining for $370 million. The new company, which will have a combined market capitalization of approximately $1.2 billion, will be a mid-tier gold producer and will tie together the San Dimas mine in Mexico; the Fosterville and Stawell gold mines in Australia; and the Young-Davidson gold development project in Ontario.
Federal authorities have shut down 12 mines in northern Mexico after inspections spurred by an accident last month that claimed the lives of 14 workers, the labor department said. Inspectors have already visited 41 of the 100 sites on their list, the department said in a statement.
Precious metals miner Fresnillo plans to double output at its newly opened Saucito mine in central Mexico by 2015 or 2016 in a second phase of expansion, a company executive said on Tuesday. With the project and other expansion plans, Fresnillo is looking to overtake BHP Billiton, which produces more silver as a by-product from other metals, as the world's biggest overall silver producer. The company's eponymous mine is the world's largest primary silver mine which has been in near continuous operation since 1550.
Atlas Copco has received an order from the Mexican mining group Peñoles. Valued at about $67 million, it is one of the largest underground mining equipment contracts ever for Atlas Copco, and the company's second large order in Mexico this year.
Shares in Vancouver-based Great Panther Silver recovered early losses to trade in positive territory by midday Tuesday after the company reported disappointing silver output at its two 100%-owned silver and gold mines in Mexico. The counter opened down more than 3% before turning positive after announcing a 6% drop in silver production as a result of falling grades and unsold inventories at its Guanajuato operation which the company ascribes to an oversupply of concentrate on the world market. Silver Panther is still up 35% over the month after investors picked up the stock following record first quarter earnings.
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/11/11 -- First Mexican Gold Corp. (TSX VENTURE: FMG) is pleased to announce its private placement announced June 22, 2011 of 2,000,000 units has been over-subscribed and the Company has increased the
IMPACT Silver Corp. ("IMPACT") regrets to announce that an employee was fatally injured on the morning of July 7, 2011, following an accident at its Guadalupe Mill in Mexico State. The mill has been closed until such time as all investigations into the
Argentum Silver Corp. (TSX VENTURE:ASL) has closed the third and final tranche of its non-brokered private placement of $0.35 units. The units each consist of one common share and one-half of one share purchase warrant. Each whole warrant will be exercisable for one additional common share at a price of $0.50 until June 23, 2012.
A five-hour gun battle between Mexican marines and a drug gang in Mexico's principal silver mining state close to Fresnillo, left 15 dead raising more concerns about mine security in the area.
Southern Silver Exploration reported today that it has increased its previously announced private placement (see news release NR-07-11) and now plans to issue up to 23,530,000 units in a non-brokered private placement at a price of $0.17 per unit to raise $4,000,100. Each unit will now consist of one common share and one whole share purchase warrant. Each warrant will be exercisable to purchase one additional common share for a period of two years at an exercise price of $0.22 per share.
Mexican mining production rose 22% in April from the year-ago month, led by a big jump in output of copper, the National Statistics Institute, or Inegi, said Thursday. Copper production rose 77% to 32,324 metric tons.
Timmins Gold Corp. reported an annual net profit of $11.5m for 2011, the first year of commercial operations of its San Francisco gold project in Mexico. The nine cent a share profit on revenues of $84.3m reported Thursday compared with a net loss of $8.6m last year when the company's income was zero. The company expects to average annual gold production of approximately 100,000 ounces at base case life of mine cash costs of US$489 per ounce. Timmins moved to the Toronto main board in March where it is worth some $137m.
Santa Fe Metals Corp. has signed a letter of intent to option up to 100% of the Cuyoaco Gold and Base Metal Property in the State of Puebla, Mexico. The Cuyoaco property currently hosts 3 separate prospective zones of high-grade mineralization. Previous sampling has returned up to 6% Cu and 31 grams/ton Au with previous drill intercepts grading as high as 28 metres of 1.3g/t Au.
Grupo Mexico and miners at its U.S. copper mining unit Asarco agreed to extend their existing contract for two more years, the Mexican company said in a statement on Tuesday. The contract covers 2,100 workers at Asarco's operations in Arizona and Texas and will now be valid until 2013.
Silver Pursuit Resources Ltd. says diamond drilling will commence imminently at its LUZ property, located 50 km north of Alamos in Sonora, Mexico.
Golden Minerals Co said it will buy Canada's ECU Silver Mining in a reverse merger for about C$302.5 million ($309.1 million) in stock and cash, to form a new silver mining company focused on Mexico and Argentina. Under the terms of the deal, ECU shareholders will get 0.05 common shares of Golden Minerals and about $0.000394 in cash for each share they hold.
Colibri reports more drill results at Ramard; 311 grams per tonne silver, 2% lead, and 3.4% zinc between 37 and 38 meters depth, plus multiple intervals of silver-lead-zinc.
Colibri Resource Corporation reports final results from a 2400 meter drill program at the Ramard silver project, in Sonora, Mexico. The Ramard property consists of over 4000 hectares of mineral concessions located 100 km north of the city of Hermosillo, Sonora, wholly owned by Colibri's Mexican subsidiary, Minera Halcones. The Ramard property contains numerous historical artisanal silver mine workings.
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced the result of an initial mineral resource estimate for the Mala Noche Footwall Zone ("MNFWZ") at the Cozamin Mine in Zacatecas, Mexico. This is a preliminary resource […]
ECU Silver Mining Inc. (TSX:ECU) is pleased to report the results from developing a new vein on the Nazas property which included assays grading up to 6.18 grams per tonne (g/t) gold (Au) and 2,755 g/t silver (Ag). The Nazas property is under option to ECU Silver with the possibility of ECU Silver acquiring a 100% interest for payments totalling US$1,100,000 over the next two years.
Korea Resources Corporation as says that its Boleo copper project in Mexico with Canada’s Baja Mining Corporation will begin production in 2013, supplying South Korea with about 30% of the mine’s output. The mine on Mexico’s Baja California Peninsula is expected to produce 38,000 tonnes of copper annually for 23 years starting in the H2 of 2013, according to the the Seoul based company which owns 30% of the project along with other Korean partners. Baja Mining holds the remaining 70% of the mine.