Monday, May 30, 2016

Imperial Metals Corporation - III.t

Imperial Metals Corporation - III.t is advancing the Red Chris project, a 30,000 tonne per day copper/gold mine currently in final stage development.

The company owns and operates the Mount Polley open pit copper/gold mine, has 50% interest in both the Huckleberry open pit copper mine, and the Ruddock Creek zinc/lead project. The sole active project outside of British Columbia is the Sterling heap leach gold mine in Nevada.
On May 12, 2016 the company released News
"Imperial Metals Corporation (the “Company”) (III-TSX) reports financial results for the three months ended March 31, 2016 as summarized below and discussed in detail in the Management’s Discussion & Analysis (“MD&A”). The Company’s financial results are prepared in accordance with International Financial Reporting Standards (“IFRS”). The reporting currency for the Company is the Canadian (“CDN”) Dollar.SELECT QUARTERLY FINANCIAL INFORMATION
Three Months Ended March 31
expressed in thousands, except share and per share amounts 2016 2015
Total revenues $136,785 $1,533
Net income (loss) $17,729 $(33,384)
Net income (loss) per share $0.22 $(0.45)
Diluted income (loss) per share $0.22 $(0.45)
Working capital deficiency (1) $173,918 $35,569
Total assets $1,450,277 $1,394,389
Total long term debt (including current portion) $863,712 $818,815
Cash dividends declared per common share $0.00 $0.00
(1)Defined as current assets less current liabilities. The March 31, 2016 amount includes $164,423 related to the senior credit facility that the Company extended on May 11, 2016.

Revenues were $136.8 million in the March 2016 quarter compared to $1.5 million in the March 2015 quarter. The increase of $135.3 million was due to revenue from the Red Chris and Mount Polley mines in the March 2016 quarter compared to the March 2015 quarter when both mines were not in commercial operations. There were five concentrate shipments in the March 2016 quarter from the Red Chris mine and two concentrate shipments from the Mount Polley mine.
On August 5, 2014 the company released News

Imperial Metals puts Mount Polley on care, maintenance

"The tailings dam breach that caused a water and tailings discharge at Imperial Metals Corp.'s Mount Polley mine early Monday morning has stabilized. The company's first priority is the health and safety of its employees and neighbours, and it is relieved no loss of life or injury have been reported. The company is deeply concerned, and is working to mitigate immediate effects and understand the cause. Exact quantities of water and tailings discharged have yet to be determined. The tailings are alkaline with an average pH of 8.5 and are not acid generating.

The cause of the breach is unknown at this time. The dam is an independently engineered structure that operated within design limits and specifications. Monitoring instruments and on-site personnel had no indication of an impending breach. The Mount Polley mine has been placed on care and maintenance, and business interruption and physical damage insurers have been notified. While the damaged area is relatively small compared with the overall size of the dam, it is not known at this time how long it will take to restore operations.

We are working closely with provincial ministries, local agencies and emergency response officials. Further updates will be provided as more information becomes available."

Tuesday, May 24, 2016

IMPACT Silver Corp. - IPT.v

IMPACT Silver Corp. - IPT.v has two production centres on its 357-square-kilometer land package - the Guadalupe Production Centre in the north, and the Capire Production Centre in the south.

At Guadalupe, IMPACT's three underground silver mines feed a central 500-tpd processing plant.

On May 20, 2016 the company released News
IMPACT Silver Corp. ("IMPACT" or the "Corporation") is pleased to announce a brokered private placement (the "Private Placement") of a minimum of $3,000,000 worth of units (each a "Unit"), at a price of $0.57 per Unit (a minimum of 5,263,158 units). Each Unit consists of one common share and one-half of one warrant. Each whole warrant (each a "Warrant") entitles the holder to purchase one common share (each a "Share") per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance.

The Corporation is pleased to announce that it has appointed a syndicate of agents led by M Partners Inc. ("M Partners") and including Clarus Securities Inc. to sell the Units by way of Private Placement. As per the terms of the appointment of the syndicate of agents, the Corporation will pay a commission of 7% on the value of Units issued on the Private Placement and issue to the agents Warrants equal to 7% of the number of Units issued on the Private Placement.

The net proceeds of the Offering will be used to fund the Corporation's continued exploration and development of its silver assets in Mexico, and for general working capital purposes.
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Saturday, May 14, 2016

Panoro Minerals Ltd. - PML.v

Panoro Minerals Ltd. - PML.v is advancing the flagship Cotabambas and Antilla projects in Peru

The company owns 13 copper and gold properties in the prolific Andahuaylas-Yauri copper-gold province in Southern Peru as well as one polymetallic project in the Northwest.
On May 2, 2016 the Company released News

"Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro", the "Company") is pleased to announce that it has received the results of an independent Preliminary Economic Assessment ("PEA") of the Company's 100% owned Antilla project in Peru. The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cuzco, in the Apurimac region in Southern Peru.

  • Pre-tax NPV(7.5%) is US$ 491 million, IRR is 22.1% and payback is estimated at 3.3 years
  • After-tax NPV(7.5%) is US$ 225 million, IRR is 15.1% and payback is estimated at 4.1 years
  • Conventional open pit mining and flotation processing
  • Design throughput of 40,000 tonnes per day with an operational life of mine of 24 years
  • low waste to mill feed ratio of 0.85:1
  • Average annual payable copper of 81 million pounds
  • Average annual payable molybdenum of 1.9 million pounds
  • Average direct cash costs (C1) of US$1.83 per pound of payable copper, net of by product credits
  • Initial project capital costs of US$ 603 million, including contingencies
  • Good potential for discovery of additional mineralization adjacent to the current mineral resource area.
The PEA was prepared by SRK Consulting (Canada) Inc. ("SRK") and Moose Mountain Technical Services Ltd. ("MMTS") in accordance with the definitions in Canadian National Instrument 43-101. The PEA is based on a Mineral Resource estimate completed by Tetra Tech Inc. ("Tetra Tech") in December 2013, based on 2,919 metres of drilling from legacy campaigns (2003-5), 9,130 metres of drilling by Panoro (2008), and 2,242 metres of drilling during a joint venture agreement with Chancadora Centauro SA (CHC) in 2010. The Mineral Resource estimate includes primary and supergene sulphides, as well as oxide copper.

The PEA is considered preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Wednesday, May 11, 2016

Starcore International Mines - SAM.t

Starcore International Mines - SAM.t is focused on the flagship San Martin gold and silver mine in Mexico. The mine has been in operation since 1993 and currently operates at 850tpd.

The mine is an underground epithermal deposit with gold quartz based limestone and has an average gold grade of 2.31 grams and 18 grams of silver.
On May 11, 2016 the Company released News

"Starcore International Mines Ltd. (the “Company”) announces that it has completed drill hole 31-79 in area 31 at its San Martin Mine in Queretaro, Mexico. This hole intercepted a zone of limestone breccia followed by manto mineralization. High grade manto mineralization with visible gold was recovered between 48.65 and 58.9 meters. The weighted average grade of this 10.25 meter wide intercept is 65.17 g/t gold with 128.26 g/t silver. Prior to the high grade intercept the limestone breccia contained elevated silver values over 10 meters including a 2 meter section grading 1.60 g/t Au and 105 g/t Ag between 42.25 and 44.25 meters.
The intercept is within 15 meters of existing workings. Mining crews are expected to arrive at this drill hole intercept some time this week in order to evaluate the dimensions of the mineralization.
Drill core is assayed on site in a laboratory that successfully reconciles doré and plant samples. Assay values within the intercept have not been cut. Within this intersection, 7 of the 13 samples graded over 25 grams per tonne gold and numerous pieces of core were seen to contain visible gold. The manto mineralization at San Martin has produced samples of this grade in the past.
“This is the best drill hole in our history at the mine”, said Robert Eadie, President and CEO of Starcore.
The Company also reports production results at the San Martin Mine for the fiscal 2016 third quarter, ending April 30, 2016.
During Q3, a total of 74,070 tonnes were milled at an average grade of 1.66 g/t gold and 13 g/t silver resulting in the production of 3,476 gold equivalent ounces. Mill recoveries averaged 83.5% for gold and 46.9% for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 79:1 during the quarter.