First Majestic Plans 'Aggressive' Exploration In 2018
FirstMajestic Silver Corp. (NYSE: AG;TSX: FR) says it has set another “aggressive”exploration budget for 2018, with an estimated 183,000 meters of planneddrilling across six producing mines and the Plomosas silver project. This comesafter the company completed over 156,500 meters of drilling on 807 holes, a newcompany record, during 2017. First Majestic reports a new discovery at Ermita??oWest near the Santa Elena Silver/Gold mine, including 3.0 grams per tonne goldand 50 grams per tonne silver over 37 meters, plus 4.7 g/t gold and 277 g/tsilver over 12.9 meters. The company also reports a number of new discoveriesand relevant extensions, including Santa Elena, main vein extension to thewest; La Encantada, new replacement ore body discovery; La Parrilla, discoveryof Cerro de Santiago vein parallel to Rosario; Del Toro, Santa Teresa veinsouth extension continues; San Martin, Hedionda vein extension continues; La Guitarra,Nazareno northwest extension and Nazareno de Ancas finding; and Plomosas, avein extension and finding of a new stockwork system. An initial resourceestimate for the Plomosas silver project is expected by the end of 2018. Also,First Majestic says, updated mineral reserve and resource estimates for allmines are being prepared and should be released by the end of the firstquarter. “2017 was an exceptional year for exploration and technologicalinnovations,” says Keith Neumeyer, chief executive officer and president.
By Allen Sykoraof Kitco News; asykora@kitco.com
OsiskoDelivers Shares Of AuRico Metals To Centerra
Tuesday January 09, 2018 09:27
OsiskoGold Royalties Ltd. (TSX, NYSE: OR)reports that it has delivered its shares of AuRico Metals Inc. to Centerra GoldInc. (TSX: CG)for $1.80 per share for proceeds of $25.5 million, generating a155% return on the investment. The deal was previously announced. Osiskomaintains an investment portfolio in other publicly held resource companies.”The investment portfolio is a key part of our business plan and enables the companyto create great value for its shareholders,” says Sean Roosen, chair and chiefexecutive officer of Osisko. Meanwhile, Centerra says it has acquired all ofthe outstanding shares of AuRico. “With the completion of the acquisition of AuRico Metals, we have expandedour existing development pipeline to include a de-risked brownfield developmentasset, located in Canada; as well, we are adding a high-quality, free cashflow-generating royalty portfolio,” says Scott Perry, president and chiefexecutive officer of Centerra. “The Kemess property has the potential to be alow-cost, long-life, significant gold and copper producer.” Centerra says itplans to have AuRico Metals common shares delisted on the Toronto StockExchange.
By Allen SykoraFor Kitco News
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asykora@kitco.com 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.