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Kerr Mines Announces Financing To Develop Arizona Mine

Kitco News

Kerr Mines Inc. (TSX: KER; FRA: 7AZ1) says it has arranged financing to develop a gold mine in Arizona. Officials say the company signed a letter of intent with Pandion Mine Finance, LLC for $27.6 million to fund the development of the Copperstone Mine by the fourth quarter of 2019. The financing is subject to a prepaid forward gold agreement, with an initial tranche of $19.6 million targeted for August and a second tranche of $8 million in July 2019. Expectations are for a definitive agreement to be signed in August. “With this funding arrangement now in place, we are…now able to turn our attention to achieving our next targets – production in 2019, expansion of resources and mine life,” says Claudio Ciavarella, chief executive officer of Kerr Mines Inc.

 By Allen Sykora of Kitco News; asykora@kitco.com

 

Avino Silver-Equivalent Output Rises With Copper Production Higher

Wednesday July 18, 2018 07:55

Avino Silver & Gold Mines Ltd. (TSX, NYSE American: ASM; FSE: GV6) reports a nearly one-third year-on-year rise in copper production during the second quarter but declines in gold and silver output. The bottom line – silver-equivalent output rose by 6% year-on-year to 738,853 ounces. Gold production decreased by 11% to 1,734 ounces, while silver production decreased by 16% to 323,014 ounces, both due to lower grades. Meanwhile, copper production increased by 31% to 1,480,830 pounds.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Orvana Quarterly Gold Output Higher

Wednesday July 18, 2018 07:55

Orvana Minerals Corp. (TSX: ORV) lists consolidated gold production of 26,761 ounces in its fiscal third quarter, an 8% increase from the previous quarter. The company also had copper output of 1.58 million pounds. This meant gold-equivalent output of 31,325 ounces, comparable to 31,905 in the prior quarter. Orvana operates the El Valle Mine in Spain and Don Mario Mine in Bolivia.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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