Gold and Silver Updates

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PALM BEACH, Fla., Sept. 15, 2020 /PRNewswire/ — Historical past exhibits that in a world disaster, gold and silver grow to be the most secure and possibly the one metals to own. A current report from Statista mentioned that the worldwide provide of silver presently stands at round one billion ounces. Almost half of all of the silver equipped worldwide is used for industrial functions. Different sizable segments go into funding, coinage, and the jewellery business. Wanting on the final 4 many years, the worth of silver has proven a gentle improve, reaching new report highs since 2010. The worth of gold has additionally risen on this pandemic, however some specialists even see silver outperforming gold. A current article by CNBC mentioned that this yr, gold costs have shot to report highs, as buyers fled to secure havens with the pandemic displaying no indicators of abating and a crashing economic system. Silver costs have adopted go well with. The articled added: “Michael Hsueh, a commodities and international trade strategist at Deutsche Financial institution, advised CNBC he expects silver to outperform gold.” Energetic mining corporations within the markets this week embrace:  MAG Silver Corp. (NYSE: MAG) (TSX: MAG), Aftermath Silver Ltd. (OTCQB: AAGFF) (TSX-V: AAG), Endeavour Silver Corp. (NYSE: EKX) (TSX: EDR), Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI), Hecla Mining Firm (NYSE: HL).

In line with the article, specialists count on that silver is ready to outshine gold, whilst costs of each treasured metals soar within the midst of a faltering world economic system and a weakening U.S. greenback. It commented: “Gold costs hit a brand new report shut of $2,021 per ounce (just lately) — settling above $2,000 for the primary time… Geopolitical unrest… seemingly added to the spike. The blasts in Beirut, which killed dozens and wounded 1000’s, “in all probability (added) to the shine of Gold above $2020,” mentioned a word from Mizuho Financial institution. Spot gold costs have spiked greater than 32% to date this yr and are on monitor for the perfect yr since 1979. In the meantime, silver costs have additionally adopted go well with, taking pictures up greater than 30% yr thus far.” 

Aftermath Silver Ltd. (TSX-V: AAG.V) (OTCQB: AAGFF) BREAKING NEWS:  Aftermath Silver Closes $17.1M Non-Brokered Non-public Placement – And Eric Sprott Declares Holdings in Aftermath Silver Aftermath Silver is happy to announce that it has closed its beforehand introduced non-brokered personal placement of 26,362,442 shares for gross proceeds of $17,135,587 (the “Non-public Placement”). Mr. Eric Sprott has elevated his funding with a view to keep 19.61% of Aftermath’s issued and excellent Frequent Shares.

All securities issued in reference to the Non-public Placement are topic to a maintain interval and is probably not traded till January 15, 2021, besides as permitted by relevant securities laws and the principles and insurance policies of the TSX Enterprise Change.  An mixture quantity of $494,567.44 in money and 290,360 frequent shares have been paid as finders’ charges in reference to the Non-public Placement.

The Firm intends to make use of the web proceeds for drilling and different technical research on the Berenguela Silver-Copper venture in Peru, and the Challacollo and Cachinal Silver-Gold initiatives in Chile, and for normal working capital functions. 

In extra information, Eric Sprott introduced this week that, 2176423 Ontario Ltd., a company that’s beneficially held by him, acquired 9,200,000 frequent shares of Aftermath Silver Ltd., pursuant to a personal placement at a worth of $0.65 per share for aggregated consideration of $5,980,000.

Because of the Acquisition, Mr. Sprott now beneficially owns and controls 24,079,796 frequent shares and seven,439,898 frequent share buy warrants (warrants) representing roughly 19.3% of the excellent frequent shares on a non-diluted foundation and roughly 23.8% on {a partially} diluted foundation assuming the train of all such warrants. Previous to the acquisition of those Shares, Mr. Sprott beneficially owned and managed 14,879,796 frequent shares and seven,439,898 warrants representing roughly 15.1% of the excellent frequent shares on a non-diluted foundation and roughly 21.1% on {a partially} diluted foundation assuming the train of all such warrants.

The Acquisition (along with Aftermath Silver’s intervening frequent share issuances from treasury) resulted in {a partially} diluted helpful possession lower of roughly 2.9% of the excellent frequent shares from the date of the final early warning report and, due to this fact, the submitting of an replace to the early warning report.  Learn your complete releases and extra information for Aftermath Silver at

Different current developments within the mining business embrace:

MAG Silver Corp. (NYSE: MAG) (TSX: MAG) recently announced an Settlement to consolidate and purchase 100% of the silver-rich Deer Path Carbonate Substitute Deposit “CRD” venture in Piute County, Utah (the “Deer Path Venture” or “Venture”).  The Venture contains 111 patented and 682 unpatented claims (roughly 5,600 Ha) encompassing the historic Deer Path Mine and the adjoining Alunite Ridge space. That is the primary time because the early Nineteen Eighties that these properties have been consolidated, permitting MAG to use an built-in district-scale exploration method primarily based on the continuum of mineralization kinds from CRD by means of Skarn to Porphyry Copper-Molybdenum proven by many associated methods worldwide. This mannequin means that the high-grade silver, gold, lead, zinc and copper CRD sulfides of the Deer Path mine are linked by kilometres of steady mineralization to a Porphyry Copper-Molybdenum centre mendacity to the west close to Alunite Ridge. 

“Deer Path has been on my exploration radar since 1982, because it shows an important traits of a giant Porphyry-related CRD system. Consolidating the property lets us apply our built-in exploration mannequin and apply new expertise to the seek for your complete suite of mineralization kinds that we count on to happen on the property,” mentioned Dr. Peter Megaw, MAG Silver’s Chief Exploration Officer.  “Our skilled CRD exploration group is worked up to see what unfolds over the subsequent few months as we start drilling for extra in depth high-grade silver-gold-lead-zinc CRD and skarn mineralization under the historic mine.”

Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) recently announced the beginning of irrigation and leaching of ore positioned on the heap leach pad on the Lindero gold Venture, positioned within the Province of Salta, Argentina. First gold pour is predicted in early October 2020.  Jorge A. Ganoza, President, CEO and Director, commented, “Despite all of the restrictions and challenges introduced by the COVID-19 pandemic, we’re managing to efficiently advance Lindero in a secure and safe method for our personnel and neighbours.” Mr. Ganoza continued, “With the beginning of irrigation, we achieved another key milestone within the pre-production part as we put together for what follows, the primary gold pour at our third producing mine.”

Development and commissioning actions at Lindero are advancing in keeping with the plan outlined within the Firm’s information launch dated Might 8, 2020.  Fortuna is a progress oriented, treasured metals producer targeted on mining alternatives in Latin America.  Our main property are the Caylloma silver Mine in southern Peru, the San Jose silver-gold Mine in Mexico and the Lindero gold Venture, at present underneath building, in Argentina.  The Firm is selectively pursuing acquisition alternatives all through the Americas and in choose different areas. 

Hecla Mining Firm (NYSE: HL) recently announced that its Board of Administrators has elevated the quarterly dividend 50% and lowered the realized worth threshold for the silver-linked dividend.  Since 2012, Hecla’s minimal quarterly dividend has been an annualized one cent per share along with a silver-linked dividend. In the present day, Hecla is asserting that the Board is growing the anticipated minimal quarterly dividend 50% to an annualized one and one-half cents per share and decreasing the silver-linked dividend threshold worth. If Hecla’s common realized silver worth for 1 / 4 is $25.00 per ounce, the brand new silver-linked quarterly dividend coverage gives an annualized two cents per share, whereas at $30 and above, the realized silver-linked dividend per quarter is unchanged.

“Our Board’s adoption of this improved dividend coverage displays Hecla’s place as the US’ largest silver producer with mines which have sturdy working efficiency and excessive silver margins,” mentioned Hecla’s President and Chief Government Officer, Phillips S. Baker, Jr. “Our long-standing dividend coverage has been enhanced with a bigger base dividend and a lower cost set off for the silver-linked dividend. As costs rise, shareholders ought to get extra of the corporate’s money move which imposes continued sturdy working and capital value self-discipline.”

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) recently announced it has filed an up to date prefeasibility examine technical report entitled “Endeavour Silver Corp Terronera Venture NI 43-101 Technical Report (“Technical Report”), independently ready by Ausenco Engineering Canada Inc. and dated July 31, 2020 with an efficient date of July 14, 2020.  The report was ready in compliance with Nationwide Instrument 43-101 and filed on SEDAR and EDGAR right now.  The report will be considered on SEDAR at and on the Firm’s web site, underneath the Mining Property, Growth part. The outcomes of the Technical Report have been beforehand introduced within the Firm’s information launch dated July 14, 2020.

Endeavour Silver Corp. is a mid-tier treasured metals mining firm that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is at present advancing the Terronera Mine Venture in the direction of a improvement resolution and exploring its portfolio of exploration and improvement initiatives in Mexico and Chile to facilitate its purpose to grow to be a premier senior silver producer. Our philosophy of company social integrity creates worth for all stakeholders.

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