Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) has closed its bought deal financing previously announced on April 3, 2014. Proceeds from the offering of common shares will be used for general corporate purposes and for working capital.
Gold Company News Directory
Scorpio Gold Corporation (TSXV:SGN) reported that production in Q1 of 2014 at Mineral Ridge in Nevada totalled 10,294 ounces of gold and 5,113 ounces of silver. Compared to Q1 of 2013, Scorpio Gold’s production of gold increased by 38.90%, and silver by 86.60%.
Klondex Mines Ltd. (TSX:KDX,OTCQX:KLNDF) subsidiary, Klondex Midas Operations, announced a toll milling agreement beginning April 17, 2014, with French Gulch Nevada Mining Corp. for the processing of gravity concentrates produced from the Washington Mine at Klondex's Midas mill.
Malbex Resources Inc. (TSXV:MBG) has entered into an agreement with Barrick Gold Corp. (TSX:ABX) regarding Malbex's Del Carmen project in San Juan Province, Argentina. Under the agreement, Barrick will have the option to earn a 51-percent interest, and later a 75-percent interest, in the Del Carmen project based on the meeting of certain expenditure requirements.
The Globe and Mail reported that Vancouver-based Goldcorp Inc. (TSX:G,NYSE:GG) has called an end to its hostile pursuit of Osisko Mining (TSX:OSK). Goldcorp refuses to top the competing bid of $3.9 billion by Yamana Gold Inc. (TSX:YRI,NYSE:AUY) and Agnico Eagle Mines Ltd. (TSX:AEM,NYSE:AEM).
Eagle Hill Exploration Corporation (TSXV:EAG,OTCQX: EHECF) is both re-pricing and increasing its non-brokered private placement announced last month. Under the revised terms of the private placement Eagle Hill plans to raise up to $3.5 million by issuing approximately 70 million units of the company at $0.05 per unit.
Roxgold Inc. (TSXV:ROG) announced the results of its feasibility study prepared pursuant to National Instrument 43-101 for the 55 Zone on its Yaramoko exploration permit in Burkina Faso. The study suggests an initial life of mine of over seven years and envisions an underground mining scenario. Highlights from the study also include a mining plan based on 4.9 grams of gold per tonne, and an Internal rate of return of 48.4% after taxes with a payback period of 1.6 years.
Learn more about Scorpio Gold Corporation (TSXV:SGN), a company currently in its third year of commercial production at Mineral Ridge in Nevada. Scorpio Gold is forecasting 40,000 to 45,000 oz. of gold to be produced in 2014.
Scorpio Gold Corporation (TSXV:SGN) announced its financial results for the fourth quarter and for the year ended December 31, 2013. Highlights for the year end included a 22% increase in gold production from 2012, an 18% reduction in cash cost per ounce of gold sold compared to the previous year and the receipt of approval for new operations plans allowing expansion of the Mary pit at the Mineral Ridge mine.
Avrupa Minerals Ltd. (TSXV:AVU) has completed Phase four of its drilling program for the Alvalade Joint Venture project in the Iberian Pyrite Belt of Portugal. The Alvalade project is funded by a 100% owned subsidiary of Antofagasta plc and operated by Avrupa. Avrupa and Antofagasta expect to be able to announce drill results and comment on details of summer exploration plans following joint venture meetings held over the next few weeks.