By Miguel A Heredia
During the 52th week of the year (December 25th to December 31st, 2023), at least 6 press releases were announced by companies working in Mexico, with four disclosing deals and corporate issues, and two announcing financing issues. It has been the week with the fewest news published since we started to post this weekly summary of mining and exploration in Mexico. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, no relevant news. ON MINING, no relevant news. ON FINANCING Regency Silver announced warrant repricing and extension (Dios Padre project, Sonora). Silver Viper closed the first tranche of its $2M previously announced private placement (La Virginia project, Sonora). ON RESOURCES AND DEVELOPMENT, no relevant news. ON DEALS AND CORPORATE ISSUES, Ranchero Gold, through its wholly-owned subsidiary Minera y Metalurgia Paika, S.A. de C.V., entered into a letter of intent with Minas de Oro Nacional, S.A. de C.V., a wholly-owned subsidiary of Alamos Gold Inc., for the 24% of the surface area of its Santa Daniela property in Sonora, for a total consideration of up to USD $5.05M. Aztec Minerals announced the appointments of its CFO and of its Controller (Cervantes project, Sonora). Osisko Development reported management changes (San Antonio project, Sonora). Starcore announced the resignation of its current President and Director (San Martin Mine, Queretaro). ON SOCIAL RESPONSIBILITY, no relevant news.
ON MEXICO ISSUE
- No relevant news.
ON EXPLORATION
- No relevant news.
ON MINING
- No relevant news.
ON FINANCING
- Regency Silver Corp., announced warrant repricing and extended the expiry date of an aggregate of 1.5M outstanding share purchase warrants expiring on April 26, 2024 issued pursuant to a private placement. The warrants will be repriced from $0.35 to $0.20 over 2 years and the expiry date extended to December 22, 2025. All other terms of the warrants remain the same (Dios Padre project, Sonora).
- Silver Viper Minerals Corp., closed the first tranche of its $2M previously announced private placement by issuing 5,324,000 units of the company at a price of $0.10 per unit for aggregate gross proceeds of $532,400. Gross proceeds will be used for the company to make its final $200K option payment on its La Virginia project, Sonora, and for working capital and other general corporate purposes.
ON RESOURCES AND DEVELOPMENT
- No relevant news.
ON DEALS AND CORPORATE ISSUES
- Ranchero Gold Corp., through its wholly-owned subsidiary Minera y Metalurgia Paika, S.A. de C.V. (Paika), entered into a letter of intent (LOI) with Minas de Oro Nacional, S.A. de C.V., a wholly-owned subsidiary of Alamos Gold Inc., for the 24% of the surface area of its Santa Daniela property in Sonora, which comprises an area of 5,390 hectares, in consideration for the cash payment of USD $2.55M and a conditional payment of USD $2.5M for the disposition. “An initial tranche of the Cash Payment in the amount of USD $658K was paid to Paika concurrently with the execution of the LOI to pay for outstanding fees and taxes on the Licenses. In the event that the Disposition is not completed, Paika will be required to repay this amount to Minas de Oro. The remaining USD $1,892,000 of the Cash Payment will be paid once the Licenses have been transferred to Minas de Oro. In the event that Minas de Oro declares a Mineral Reserve of, or mines, greater than 500K ounces of gold within the Licenses, Minas de Oro will pay Paika an additional USD $2.5M”.
- Aztec Minerals Corp., announced the appointments of its CFO and of its Controller (Cervantes project, Sonora).
- Osisko Development Corp., reported management changes and announced the retirement of its COO at the end of 2023, as well as of its Vice President, Sustainable Development. Meanwhile, a current Director on the Board of Directors on the company and chair of the Environmental, Health and Safety and Technical committee, will assume the role of interim COO while (San Antonio project, Sonora).
- Starcore International Mines Ltd., announced the resignation of its current President and Director. The current CEO will assume the Presidency (San Martin Mine, Queretaro).
ON SOCIAL RESPONSIBILITY
- No relevant news.
Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.
On the picture above, a Redox front in a Redbed-Copper project in Tamaulipas, Mexico. Photo by Miguel A Heredia.
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