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The Company's cash reserves as of December 31, 2015, are estimated to be sufficient to continue operations through the end of the first quarter of 2016. The Company is seeking financing and may consider a joint venture of the Montanore Project or other strategic alternatives. If the Company were to issue equity at the current stock price, the conversion price of the existing Series B 6% convertible preferred stock (the "preferred stock"), would be adjusted from the current $0.7866 per share…
MINES MANAGEMENT, INC. (NYSE-MKT: "MGN", TSX: "MGT")(the "Company") is pleased to announce that it has retained Canaccord Genuity Corp. ("Canaccord") as financial advisor to the Company to assist in reviewing and developing strategic options to enhance shareholder value. Canaccord is an independent, global, full-service investment bank focused on growth companies in the mining sector, and has provided advisory services in connection with some of the largest mining transactions in recent years.
"Our 2015 operational and financial results reflect Fortuna´s capacity to perform soundly in a challenging metal price environment. Adjusting for a $25.0 million impairment at our Caylloma Mine, the company delivered $6.7 million of adjusted net income."
Fortuna Silver Mines Inc. (FSM)(FVI.TO) announces that it will release its financial statements and MD&A for 2015 after the market closes on Monday, March 14, 2016.
N. Eric Fier , CPG, P.Eng, President & CEO stated, "Las Chispas is a very exciting brownfields exploration story. The project area consists of a district size target with multiple historic surface and underground mines that reportedly produced an estimated 100 million ounces of silver and 200 thousand ounces of gold between 1880 and 1930. Reported average production grades from limited public information were approximately 15 grams per tonne (gpt) gold and 1,700 grams per tonne (gpt) silver…
MINES MANAGEMENT, INC. (NYSE-MKT: "MGN", TSX: "MGT")(the "Company") will host a live webinar for analysts and investors to discuss the recent issuance of the Record of Decision for the Company's 100% owned Montanore silver-copper project previously announced on February 12, 2016.
"We have crossed the goal line. The Record of Decision is the major approval to complete the final evaluation and development of the project contingent upon compliance with its conditions. We are excited to have completed the eleven year permitting process that included two draft Environmental Impact Statements and at least three rounds of public comment," Glenn M. Dobbs, the Company's Chairman and CEO, stated in response to the announcement.
"It has been a long journey. Many naysayers said…
Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to announce 2015 production figures from its two underground operating silver mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 6.6 million ounces of silver and 39.7 thousand ounces of gold or 9 million Ag Eq* ounces.
Fortuna Silver Mines Inc. (FSM)(FVI.TO) is pleased to provide an update of construction activities and brownfields exploration at the San Jose Mine in Mexico.
"Our operation at San Jose continues to outperform, enabling the company to sustain positive financial results amidst an extremely challenging metal price environment. Our teams continue to focus on running our operations efficiently, optimizing mine plans and increasing margins per tonne." Mr. Ganoza added, "With the commissioning of the San Jose expansion to 3,000 tpd in mid-2016, the company will further improve its operating margins and cash flow generation."
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