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Austral Gold Announces New Related Party Loan
Newsfile· 2025-08-19 00:33
Group 1 - Austral Gold Limited has secured a new US$1.3 million unsecured related party loan from Banco Hipotecario, which is associated with the company's largest shareholder and Chair, Eduardo Elsztain [1][2]. - The proceeds from the new loan will be used to repay a previous loan of AR$1,600 million (approximately US$1.25 million) obtained from Banco Hipotecario, which was due on August 1, 2025 [2][8]. - The material terms of the new loan include a 12-month term, an interest rate of 11%, and a repayment schedule consisting of 12 monthly installments, with the first installment due 120 days after receipt of the loan [8]. Group 2 - Following the transaction, Austral Gold's overdraft balance with Banco Hipotecario will be approximately ARS$75 million (around US$58,000) [4]. - Austral Gold is focused on building a portfolio of quality assets in the Americas, emphasizing production, exploration, and equity investments as its strategic pillars [5].
Element79 Gold Corp Announces Corporate Update and Strategic Leadership Changes With Focus On Accelerating Nevada Asset Development
Thenewswire· 2025-08-15 23:55
Core Insights - Element79 Gold Corp. is undergoing strategic leadership changes effective August 31, 2025, to enhance asset development in Nevada and advance its growth strategy [1][6][9] Group 1: Strategic Focus - The company has refined its strategic focus on long-term exploration and development in Nevada, highlighted by the acquisition of the drill-ready Gold Mountain Project and plans to explore the Elephant Project [1][2] - The Gold Mountain Project is positioned for near-term exploration aimed at expanding known mineralization and advancing toward resource definition [4] - The Elephant Project is targeted for systematic exploration to evaluate its potential for gold, silver, lead, and copper [4] Group 2: Peru Operations - Element79 Gold continues to develop the high-grade Lucero Project in southern Peru, with a mid-to-long-term goal of restarting exploration and production [1][4] - Current efforts in Peru focus on community engagement, legal and regulatory readiness, and aligning project development with key stakeholders [5] Group 3: Leadership Transition - James C. Tworek will step down as CEO but will continue to support the company as a Director, while Michael Smith will be appointed as the new CEO [6][9] - Kim Kirkland will take on the role of Qualified Person and join the Board of Directors, stepping down from his position as COO [9] - Warren Levy will remain as Director and assume the role of Chairman of the Board [9]
SSR Mining: Robust Gold/Silver Mines Portfolio Despite ÇöPler Still Offline In Turkey
Seeking Alpha· 2025-08-15 11:36
Group 1 - The article issues a positive "Hold" rating on shares of SSR Mining Inc., a gold equivalent ounce mining, development, and exploration company based in Denver, Colorado [1] - The rating aligns with the existing "Hold" rating, indicating a stable outlook for the company's stock [1] - The analyst has a Master's degree in Business Economics and possesses a solid quantitative background, covering various sectors and stock types [1] Group 2 - The article does not provide any specific financial data or performance metrics related to SSR Mining Inc. [1]
INTEGRA AND SHOSHONE-PAIUTE TRIBES ESTABLISH HISTORIC RELATIONSHIP AGREEMENT
Prnewswire· 2025-08-15 10:00
Core Viewpoint - Integra Resources Corp has established a groundbreaking Relationship Agreement with the Shoshone-Paiute Tribes for the DeLamar gold and silver mining project, marking a significant step in recognizing Tribal sovereignty and promoting sustainable economic development in the region [1][2]. Group 1: Agreement Details - The Agreement is the result of five years of collaboration and will guide the partnership throughout the life of the DeLamar Project [2]. - It provides a framework for collaboration and co-management of various aspects related to the DeLamar Project, including economic opportunities, environmental protection, cultural recognition, and social performance [5][3]. - The Agreement is unprecedented in the Lower 48 States, asserting the Shoshone-Paiute's right to participate in decision-making processes regarding the project [2][4]. Group 2: Economic and Community Impact - The DeLamar Project is expected to create high-wage job opportunities in rural Idaho communities, contributing to local economic development [2][4]. - The partnership aims to foster responsible economic development while protecting the values, interests, and culture of the Shoshone-Paiute Tribes [2][5]. - The Agreement aligns the interests of both parties, promoting consensus-based regulatory collaboration and community investment [3][5]. Group 3: Project Background - The DeLamar Project is located in Owyhee County, Idaho, and includes historic gold and silver deposits previously operated by Kinross Gold Corporation until 1998 [4]. - Integra has invested approximately US$140 million into advancing resource growth, engineering, and environmental baseline work since acquiring the project in 2017 [4]. - The submission of the Mine Plan of Operations to the United States Bureau of Land Management initiates the process for an Environmental Impact Statement to evaluate potential environmental effects [4].
Arizona Gold & Silver Discovers 10 Metre Epithermal Quartz Vein Within 35.37 Metre Mineralized Quartz Vein Breccia at Philadelphia Project, Arizona
Thenewswire· 2025-08-14 14:25
Vancouver, British Columbia – TheNewswire - August 14, 2025 – Arizona Gold & Silver Inc.(TSXV: AZS) (OTCQB:AZASF) announces further positive results from the on-going core drilling program at the Philadelphia Project in Arizona. Core hole PC25-156 has intersected approximately 10 metres ("m") of unbrecciated banded and massive vein quartz within a 35.7m intercept of quartz vein and quartz vein breccia. This is the first time a drill hole has been deep enough to intersect intact vein with the classic epither ...
Bear Creek Mining Reports Q2 2025 Financial and Operating Results
Newsfile· 2025-08-13 21:21
Core Viewpoint - Bear Creek Mining Corporation reported its interim consolidated financial results for Q2 2025, highlighting challenges in production and financial performance, alongside ongoing strategic reviews and debt restructuring efforts [1][3][24]. Financial Results - Revenue for Q2 2025 was $27.8 million, with a comprehensive loss after taxes of $11.7 million, equating to a loss of $0.04 per share [3][24]. - Cash generated from operating activities was $(1.7) million, while investing activities used $(10.3) million, and financing activities generated $10.1 million [3][25]. - As of June 30, 2025, the company held cash and cash equivalents totaling $4.8 million, down from $6.7 million at the end of 2024 [25]. Production Highlights - The Mercedes mine produced 7,973 ounces of gold and 33,932 ounces of silver during Q2 2025 [4][6]. - Cash costs per gold ounce sold were $2,327, and all-in sustaining costs (AISC) per gold ounce sold were $2,753 [3][4]. - The total tonnes mined were 91,941, with 89,488 tonnes processed, and a recovery rate for gold of 96% [3][6]. Operational Challenges - Production was lower than planned due to contractor underperformance and challenging ground conditions at the Marianas deposit [6][8]. - The company terminated its mining services agreement with the underperforming contractor and transitioned to a new contractor to enhance efficiency [7][8]. - A comprehensive recovery plan is being implemented to address the development deficit at the Marianas deposit [8][10]. Strategic Review - The ongoing Strategic Review aims to explore various options, including recapitalization, asset sales, or mergers, to enhance company value [22]. - The company has deferred interest payments on certain debt arrangements until December 31, 2025, to improve liquidity [19][22]. Development Activities - During Q2 2025, 1,828 meters of development were achieved at the Mercedes Mine, a reduction attributed to contractor issues [10]. - Delineation and infill drilling continued at the Marianas deposit, with expenditures of $1.0 million during the quarter [14]. Corani Project - Activities at the Corani Property focused on assessing the Oxides opportunity and community support initiatives, but further work on this opportunity is currently on hold due to the Strategic Review [15][16]. Social and Environmental Initiatives - The company maintained environmental monitoring activities around the Corani camp during Q2 2025 [18].
Mithril Silver and Gold ("MTIRF") Announces US Listing on OTCQB
Newsfile· 2025-08-13 02:25
Core Points - Mithril Silver and Gold has begun trading on the OTCQB Venture Market in the U.S. under the symbol MTIRF, while continuing to trade on the Australian Stock Exchange and TSX.V under the symbols MTH and MSG respectively [1][2] - The move to OTCQB is expected to enhance the company's visibility, broaden its shareholder base, and improve access to U.S. capital markets, marking a significant milestone in its market engagement strategy [2][3] - Mithril is focused on unlocking the high-grade potential of its Copalquin Gold-Silver District in Mexico, which is part of the Sierra Madre Trend known for world-class silver-gold deposits [3] Company Overview - Mithril Silver & Gold Limited is engaged in exploring and developing its Copalquin Gold-Silver District, which features a district-scale epithermal system with significant historic underground mines and surface workings [3] - The company is led by a proven management and technical team with a strong track record in gold and silver discoveries and mine development, and it is fully funded for a major drill program targeting multiple high-priority zones [3]
Prime Mining Reports Q2 2025 Financial and Operating Results
Globenewswire· 2025-08-12 01:03
Core Viewpoint - Prime Mining Corp. reported strong operational and financial results for Q2 2025, highlighting a significant increase in cash reserves and a proposed acquisition by Torex Gold, which offers immediate value to shareholders while reducing development risks [2][9]. Corporate Highlights During the Quarter - The company closed the quarter with CAD 32.7 million in cash and equivalents, a substantial increase from CAD 19.1 million at the end of 2024 [14]. - Prime Mining exercised 97% of its June warrants, contributing to the increase in cash reserves [2][14]. - The selection of Ausenco as the lead engineer for the Preliminary Economic Assessment (PEA) of the Los Reyes project was announced [3][8]. Project Highlights - The Los Reyes Gold-Silver Project is a high-grade, low-sulphidation epithermal project located in Sinaloa State, Mexico, with significant exploration activities ongoing [18]. - The company has invested CAD 66.7 million in direct exploration activities since acquiring Los Reyes in 2019, completing over 221,000 meters of drilling [18]. - An updated resource estimate as of October 15, 2024, indicated a total indicated resource of 1.49 million ounces of gold and 53.99 million ounces of silver [21][28]. Financial Performance - For the six months ended June 30, 2025, the company reported a loss of CAD 6.17 million, an improvement from a loss of CAD 11.94 million in the same period of 2024 [14]. - The loss per share decreased from CAD 0.08 in 2024 to CAD 0.04 in 2025 [14]. - Total assets increased to CAD 46.93 million from CAD 33.18 million at the end of 2024 [14]. Acquisition Details - On July 28, 2025, Prime Mining announced a definitive agreement for acquisition by Torex Gold, where shareholders will receive 0.060 of a Torex share for each Prime share held [10][11]. - The transaction is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions [12][16]. Community Engagement and Environmental Stewardship - The company is actively engaged with local stakeholders and is committed to minimizing its environmental footprint while ensuring a positive impact on host communities [5][4]. - Prime Mining has released its inaugural sustainability report and is working on ESG programs to support community and environmental initiatives [6][5].
Gold Springs Resource Corp. Files Q2 2025 Financial Statements, MD&A and Provides Operations Update
Newsfile· 2025-08-11 21:56
Financial Performance - For the six months ended June 30, 2025, general and administrative expenses decreased to $0.27 million from $0.31 million in the same period of 2024 [2] - The net loss for the six months ended June 30, 2025, was $0.30 million ($nil loss per share), compared to a net loss of $0.34 million ($nil loss per share) for the same period in 2024 [2] - As of June 30, 2025, the company had cash of $0.02 million [2] Operational Developments - The company is working with ADT Environmental & Mineral Consultants and Global Resource Engineering to apply for permits to build a heap-leach processing pilot plant and a starter pit at the South Jumbo area in Utah, with a resource estimate of 214,565 oz M&I Au identified [3] - The company has engaged Gardiner Brothers Drilling Inc. to drill a water well near the processing facility, which will supply water for a large-scale operation [4] Company Overview - Gold Springs Resource Corp. focuses on the exploration and expansion of gold and silver resources at its Gold Springs project located on the border of Nevada and Utah, USA, in the Great Basin, a prominent mining jurisdiction [6]
Stinger Resources Announces Acquisition of Golden Triangle Mineral Claims
Newsfile· 2025-08-11 11:30
Core Viewpoint - Stinger Resources Ltd. has successfully acquired two mineral claims in British Columbia's Golden Triangle, enhancing its strategic position in a historically rich mining area [1][2]. Acquisition Details - The company acquired BC Mineral Claims 1118893 and 1118908 from Wild West Gold for $10,000, securing a 100% interest with no Net Smelter Return (NSR) on the claims [2]. - The newly acquired claims cover an area of 271.5 hectares and fill gaps between the Dunwell Mine and Glacier Creek claims, creating a larger contiguous block [1][2]. Strategic Importance - The acquisition consolidates control over the entire 6.5 km Portland Canal Fissure Zone, which is known for high-grade polymetallic mineral occurrences [3]. - The property is strategically located with excellent logistics, including a highway and power access, and is only 8 km from bulk tonnage shipping ports in Stewart, BC [3]. Company Overview - Stinger Resources holds a strong portfolio of gold and silver properties in British Columbia, including the 100% owned Dunwell Mine project in the Golden Triangle [4]. - The company also has property option agreements on several other promising mineral properties in various prospective areas of the province [5].