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Xali Gold Updates after Filing Annual Financial Statements
Globenewswire· 2025-08-21 11:00
Company Updates - Xali Gold Corp. filed its audited annual financial statements for the financial year ended March 31, 2025, on August 16, 2025, in compliance with Canadian securities laws [1] - The TSX Venture Exchange is conducting a Listing Review of Xali Gold following a trading halt, and the company is working to resume trading as soon as possible [2] - The company is focused on securing an advanced exploration stage project in South America, particularly in Peru, due to the current price of gold and its experienced partners [3] El Oro Concessions - The Mexican Mining Bureau cancelled two mining concessions related to the El Oro property, which accounted for 76.28% of the fees owed for the total property, leading the company to write off $2,260,108 in outstanding mining fees [4] - An additional seven El Oro concessions were also cancelled without notice, which the company believes to be unlawful, and it is seeking legal advice for potential recourse [5] - The El Oro property has a historical production of approximately 6.4 million ounces of gold and 74 million ounces of silver from mining at an average depth of 200 meters [8] Agreements and Future Plans - Xali Gold has entered into agreements with third parties to produce gold and silver from specific shallow areas of the El Oro Project, which are expected to generate cash flow and facilitate underground drilling access [9] - The company is reviewing high-sulphidation gold targets in Peru, similar to known deposits like Yanacocha and Pierina, as part of its exploration strategy [11] - The Tailings Project in El Oro contains an inferred resource of 1,267,400 tonnes grading 2.94 g/t gold and 75.12 g/t silver, amounting to approximately 119,900 ounces of gold and 3,061,200 ounces of silver [15]
ESGold Signs MOU for High-Grade Tailings Project in Colombia
Globenewswire· 2025-08-20 12:30
Core Viewpoint - ESGold Corp. has entered into a joint venture with Planta Magdalena S.A.S. to develop and reprocess gold- and silver-bearing tailings in Bolívar, Colombia, aiming to expand its tailings-to-cash-flow model and enhance environmental remediation efforts [1][2][5]. Company Overview - ESGold is a pre-production gold and silver mining company focused on scalable clean mining and exploration innovation, with its Montauban project in Québec nearing production [18]. Joint Venture Details - ESGold will invest C$1.5 million for a 50% interest in the joint venture and has the right to purchase the remaining 50% within 12 months at fair market value [5]. - The Bolívar project is fully permitted, and ESGold will verify all permits and licenses as part of its due diligence [5]. Strategic Rationale - The joint venture aims to replicate ESGold's successful low-capex, high-margin tailings model from Montauban while improving environmental outcomes for local communities [5][12]. - Bolívar is recognized as one of Colombia's most prolific gold-producing regions, with significant artisanal mining activity that leaves substantial gold and silver in tailings due to outdated processing methods [12][13]. Initial Sampling Results - Preliminary due diligence involved collecting 27 tailings samples, with 8 samples assaying above 5 g/t Au and several high-grade results, including a notable 42.683 g/t Au [7][9][10]. - The region processes approximately 300,000 tonnes of ore annually, producing around 128,000 ounces of gold, but traditional methods recover less than half of the contained precious metals [12][13]. Next Steps - ESGold plans to finalize a definitive agreement with Planta following comprehensive legal, technical, and financial due diligence [20]. - The company aims to confirm recovery rates through ongoing bulk-sample concentrate tests and continue construction at Montauban [20].
Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico
Newsfile· 2025-08-19 07:15
Core Viewpoint - Questcorp Mining Inc. has completed 25% of its maiden drilling program at the La Union Gold & Silver Project in Mexico, indicating progress in exploration efforts aimed at identifying significant gold deposits [1][3]. Exploration Progress - The company is leveraging recent exploration work by Riverside Resources Inc. to enhance understanding of the geological structure and stratigraphy at La Union, focusing on a large potential gold discovery [3][4]. - The initial drilling program consists of 1,200 to 1,500 meters, with 300 meters already completed, targeting carbonate-hosted replacement deposits (CRD) [8][12]. Financial Commitment - Questcorp has committed an initial C$1,000,000 for the exploration program, part of a larger C$5,500,000 work commitment contingent on exploration results [5][16]. Drilling Targets - The drill program targets four main areas: Union Main Mine Area, North Union Mine Area, Cobre Mine Area, and Central Union Area, focusing on structural interpretations and mineralization potential [6][15]. - The program aims to evaluate the scale of alteration and indications of a mineralized system, with follow-up drilling planned based on initial results [6][11]. Geological Context - The La Union Project is characterized as a carbonate replacement deposit hosted by Neoproterozoic sedimentary rocks, with significant historical mining activity indicating potential for large-scale discoveries [12][10]. - Historical mining targeted upper oxide zones, suggesting that underlying sulfide zones are compelling drill targets for further exploration [11][12].
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]