Friday September 13, 2013 5:00 PM
McEwen Mining will have a new leader as it is “entering into an exciting period of growth," says Rob McEwen, Chairman and Chief Owner who announced the promotion of Ian Ball as the company’s new president. The company adds in a press release, “Ian has been with the company since late 2005 and has been instrumental in advancing the development of our Mexican assets. In particular, the discovery of El Gallo 2 silver deposit and restarting of El Gallo 1 gold mine and its current expansion. All work has been completed under budget and on schedule."
By Neils Christensen of Kitco News firstname.lastname@example.org
Friday September 13, 2013 11:56 AM
Alamos Gold Inc. (TSX: AGI)(NYSE: AGI) says it acquired Orsa Ventures Corp. with near unanimous approval from Orsa shareholders. The deal was initially announced July 23. “We believe the Quartz Mountain Project fits the Alamos profile perfectly, as a low capital intensity, low-cost and low technical risk project that further strengthens our development pipeline,” says John A. McCluskey, president and chief executive officer of Alamos. The company says they have $445 million remaining in cash, no debt and strong ongoing cash flow generation. Alamos holds projects in Mexico, Turkey, as well as the U.S. after the Orsa acquisition.
By Alex Létourneau of Kitco News email@example.com