Equinox Board Approves Construction Of Aurizona Gold Mine
The board of directors of Equinox Gold Corp. (TSXV: EQX,OTC: LWLCF) has approved full-scale construction of the Aurizona Gold Mine inBrazil, with the cost estimated at $146 million, the company says. Early-worksconstruction began in the third quarter, and the company’s timetable calls fora gold pour by late 2018. “This will be a milestone year for Equinox Gold as weadvance Aurizona and transition the company from a developer to a meaningfulproducer, with more than 135,000 ounces of annual gold production expected fromAurizona,” says Christian Milau, chief executive officer. David Laing, chiefoperating officer, says the tailings dam raise is nearly complete, the millsare ordered and significant earthworks completed in preparation forinstallation of the mills and other new plant infrastructure. Approximately $25million of the budget was spent in 2017 during early-works activities.Officials say Aurizona construction will be fully funded with Equinox Gold’sexisting treasury and an $85 million secured project credit facility, fromwhich the company has drawn $15 million to date.
By Allen Sykoraof Kitco News; asykora@kitco.com
Torex Pours 241,000 Ounces Of Gold In 2017
Monday January 08, 2018 08:36
Torex Gold Resources Inc. (TSX: TXG)reports that 241,000 ounces of gold were poured and 244,800 were sold in the 10months of operations in 2017, the second ramp-up year at its El Limon-GuajesMine in Mexico. The mine has been shuttered in recent months due to a blockadeby an outside union, officials have said. Fred Stanford, president and chiefexecutive officer, says that prior to the blockade, the plant was producing atapproximately 90% of design capacity. “We are optimistic that progress is beingmade in getting the operations restarted, and look forward to completing theramp-up, finishing the SART plant, and getting back underground into thesub-sill area,” he says. “2018 has the potential to be a catalyst rich year forTorex, for the benefit of our shareholders, employees, communities, and thethousands of families that depend on the operations for their livelihood.”Torex also announces that its chief financial officer, Jeff Swinoga, will beleaving the company. Although his departure is effective Jan. 12, Swinoga willcontinue as a consultant and acting CFO on an interim basis until hisreplacement is announced, Torex says.
By Allen Sykoraof Kitco News; asykora@kitco.com
Avino Announces Final Approval to ListOn TSX
Monday January 08, 2018 08:36
AvinoSilver & Gold Mines Ltd. (NYSE-American, TSXV: ASM;FSE: GV6) says it has received final approval to lists its commonshares and warrants on the Toronto Stock Exchange starting Monday. These willbe delisted from the TSX Venture Exchange. The trading symbol for shares andwarrants will continue to be ASM and ASM.WT, respectively. “The TSX is Canada’smost senior stock exchange and we anticipate that this move will provide Avinowith greater visibility in the marketplace and access to a broader and morediverse range of international and institutional investors,” says David Wolfin,president and chief executive officer.
By Allen SykoraFor Kitco News
Follow @AllenSykora
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.