Exploring Mining Podcast – News from (NYSE American: $SILV) (TSX: $SIL.TO) (TSX: $MQR.TO) (NYSE: $IAG) (NYSE: $EGO) (TSXV: $BNCH.V)
Point Roberts WA, Delta BC, June 9, 2020 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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SilverCrest Metals Inc. (NYSE American:SILV) (TSX:SIL) has filed a final short form base shelf prospectus to provide itself the flexibility to take advantage of equity, debt, convertible debt and other financing opportunities that may arise during the 25-month effective period of the Prospectus. N. Eric Fier, CEO of SilverCrest, explained:
"We currently have US$164 million dollars in the bank and are fully financed for Las Chispas mine construction. The filing of this shelf prospectus, with a window of 25-months, puts us in a position to rapidly complete a potential future financing to enable us to continually drill through the construction period and maintain strategic flexibility if other opportunities arise.”
Monarch Gold Corporation (TSX:MQR) has announced the closing of the sale of the Fayolle property to IAMGOLD Corporation (NYSE:IAG) for $11.5 million. According to a previous press release, the Fayolle property consists of 39 mineral claims covering an area of 1,373 hectares in Quebec, Canada. Jean-Marc Lacoste, President and CEO of Monarch, said:
This is a profitable short-term transaction for Monarch, allowing us to significantly strengthen our financial position without dilution and with the potential for appreciation if the share value of IAMGOLD increases, especially in the current gold bull market. While Fayolle has potential, the fact remains that Wasamac is our priority project and the recent signing of the MOU with Glencore Canada (see press release dated May 14, 2020) has raised the outlook of our 2.6-million-ounce gold flagship project, which includes 1.8 million ounces of reserves. The funds from this transaction will allow us to advance the Wasamac project at a faster pace, while simultaneously pursuing exploration programs on our Beaufor and McKenzie Break properties."
Eldorado Gold Corporation (NYSE:EGO) has begun construction of a three kilometre decline from the Sigma mill to the 405 metre level of the Triangle mine at its Lamaque project, which is expected to be completed in the first half of 2022 at an estimated cost of $24 million. Some expected benefits of the decline, or tunnel, include a reduction in the energy requirements for mine ventilation, supplying a means of secondary egress and ventilation to the Triangle mine, increasing safety underground, and facilitating increased future production from the Triangle mine.
Benchmark Metals Inc. (TSXV:BNCH) has announced “significant advancements it has made over the past two years since acquiring the Lawyers gold-silver project and it's vision for the next twelve months.” The company’s CEO, John Williamson, explained:
"The Lawyers project began mining operations in the late 1980's as a small high-grade gold and silver producer, on a limited land position, during a period of depressed gold and silver prices. Our success began 30 years later with recognizing the potential of multiple anomalous high-grade gold and silver results consolidated into a large land package. We identified the potential to expand existing zones and explore the potential for larger mineralizing systems. This led to the discovery of previously unrecognized bulk-tonnage style mineralization. Over a two-year period, Benchmark has rapidly advanced its gold-silver project and with the addition of the forthcoming 2020 data we will have more than tripled the historically drilled metres. This season's data will be invaluable for us to demonstrate the economics of a new open-pit mining scenario during a period of escalating gold and silver prices.”
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