CGS May 2024
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CGS Ecuador 2024 Postponed
Due to difficult market conditions we have decided to postpone the CGS Ecuador 2024 event that was due to take place in early June.
G Mining to buy Reunion Gold for C$875M
G Mining Ventures (TSX:GMIN) is to acquire Reunion Gold (TSXV:RGD) in a C$875M stock transaction to create an intermediate Americas-focused Au producer. GMIN acquire RGDs Oko West Au project in Guyana. The GMIN team, including through the Gignac family-owned G Mining Services has built several mines in the Guiana Shield region, including Newmont’s (NYSE:NEM) Merian mine in Surinam. GMIN is developing the Tocantinzinho Au mine in Para, Brazil, which will commence commercial production in 2H24. “Oko West has all the key attributes GMIN seeks in its next growth leg. We are well-positioned to accelerate value creation at Oko West, leveraging our unique expertise in building and operating mines on schedule and on budget in the Guiana Shield, deep knowledge of and network in the region, and over US$480M anticipated near-term free cash flow from Tocantinzinho,” said GMIN CEO Louis-Pierre Gignac. “We believe that this transaction not only delivers our shareholders an attractive upfront premium, but also the ability to participate with significant ongoing ownership in the combined company, having the opportunity to participate in an expected future re-rating as Oko West is advanced towards production,” said RGD chief executive Rick Howes.
RGD shareholders will 65c per share in stock, equivalent to being issued 0.285 GMIN shares for each RGD share, with the transaction valued at C$875M, a 29% premium. Upon completion, existing GMIN and RGD shareholders will own 57% and 43% of the combined company. Reunion shareholders will also receive shares in a newly created Au explorer holding RGDs assets other than Oko West. GMIN has agreed to fund $15M and will obtain a 19.9% interest. GMIN also aims to undertake a concurrent US$50M equity financing supported by La Mancha and Franco-Nevada (NYSE:FNV), funding 50% of this each. La Mancha’s also intends to purchase up to US$10M of GMIN shares in the open market. Following the completion of the transaction, La Mancha’s shareholding will decrease from 25% to 18.7%. FNVs shareholding will decrease from 9.9% to 7.2%.
In February, RGD announced an updated resource estimate at Oko West to bring the total open pit and underground indicated resource to 64.6Mt @ 2.05g/t containing 4.3Moz. Oko West also hosts 1.6Moz in inferred resources. A PEA is underway and was due to be released in the coming months. GMIN plans to accelerate development and move quickly through technical studies to a construction decision, using cashflow from Tocantinzinho to build it, to reach commercial production within three or four years of completing the transaction. Tocantinzinho is 87% complete and will produce ~200koz/y for the first five years. A 2022 feasibility for Tocantinzinho estimated total production of 1.8Moz over a 10.5-year life of the mine.
The announcement of the transaction could precipitate other offers or transactions given that Oko West is adjacent to G2 Goldfields’ (TSXV:GTWO) Oko Au project, which earlier this month also reported a resource update, increasing total contained gold to 2Moz, within which the indicated resource increased to 922koz. The combined open pit and underground resource at the Oko Main Zone (OMZ) is now 2.36Mt @ 9.03g/t in the indicated category for 686koz contained, with an additional 495koz in inferred resources. The combined open pit and underground resource at Ghanie is now 3.34Mt @ 2.2g/t containing 236koz in the indicated category, with an additional 604koz of inferred resources. Between them, GTWO and RGD have advanced a district with at least 10Moz of potential resources.
Silvercorp to acquire Adventus
Silvercorp Metals (TSX:SVM) is to acquire Ecuador base metals developer Adventus Mining (TSXV:ADZN) in an all-stock deal valued at C$200M to add the El Domo VMS development project to its portfolio of assets in China and Bolivia. SVM said the deal provides it with immediate asset, geographic and metal diversification, increased Au exposure, and Ag, Cu, Pb & Zn. The El Domo project should enhance its near-term production profile. "This transaction will create a new globally diversified green metals producer. It presents the opportunity for us to leverage our technical expertise and strong balance sheet to unlock value for all shareholders by constructing the El Domo project,” said SVM chair & CEO Dr Rui Feng. Each ADZN share will receive 0.1015 of a SVM share with an implied consideration of 50c per ADZN share at a 31% premium. Upon closing, existing SVN and ADZN shareholders will own 81.6% and 18.4%, respectively, of SVM shares. The transaction is expected to be completed in the September quarter. Once built, El Domo is forecast to produce 10,463tpa Cu and 21,390tpy CuEq over the life of mine from reserves of 6.5Mt @ 5% CuEq. Adventus received the environmental permit for El Domo in January allowing it to proceed with the US$280m construction.
For ADZN, the deal continues a busy corporate period that saw it merge with Ross Beaty’s Luminex Resources earlier this year to add the PEA stage 6.5Moz Condor Au development project in southern Ecuador. Condor could produce 187koz/y Au & 758koz/y Ag for 12 years. SVM said it has the technical capabilities to bring El Domo into production on an accelerated basis, having built eight mines, along with three flotation mills of similar size to El Domo. It also brings a cash position of more than $200M to help finance the development, which has raised $175.5M from a stream with Wheaton Precious Metals (TSX:WPM). In the interim, SVM will buy 67.4M ADZN shares at 38c to inject C$25.6M into the company and take a 15% stake. These funds will be used to repay a C$9.9M credit facility with Trafigura, pay C$9.6M to settle a convertible loan agreement with Altius Resources, C$2.7M to fund normal activities at El Domo and C$3.4M for general working capital which is expected to include early development expenditures to advance El Domo construction.
SVM has been growing by acquisition for a number of years and is one of the few mining companies listed in Canada whose principal operations are in China. The company produced 7,268oz Au in fiscal 2023, 6.8Moz of AgEq, 63.2Mlb Pb & 23.4Mlb Zn. It bought the La Yesca silver-polymetallic project in Mexico in 2021, is the major shareholder in Bolivian silver developer New Pacific Metals (TSXV:NUAG), and, more recently, it tried to buy Tanzania Au developer OreCorp.
Court keeps Llurimagua stopped
Ecuador's Constitutional Court has decided not to accept the legal protection resources presented to resume activities at the US$3B Codelco-Enami Lurimagua Cu-Mo project in Imbabura, Ecuador, rejecting a petition from the Ministries of Energy & Mining, and Environment, attorney general and Codelco. The decision maintains a provincial court ruling issued in March 2023 to suspend the project's environmental license, effectively stopping the project in its tracks. The court ordered project owner Enami to undertake an environmental consultation and develop a new environmental impact study and environmental management plan for the advanced exploration phase. This is complicated because Codelco opened an investment dispute against Enami for failure to advance the project.
Exploration News
Collective Mining (TSX:CNL)
Announced results from metallurgical flotation test work on its Guayabales u-Cu project's Apollo porphyry system in Caldas, Colombia. Previous work envisioned a conventional split circuit with the Cu-rich stream (more than 0.15% Cu) treated through a flotation circuit and the Cu-poor stream (less than 0.15%) treated through a precious metal-focused cyanidation circuit to produce doré. CNL now also expects a gravity circuit to be included after flotation to recover the high-grade tungsten. Flotation testing on an 86kg sulphide sample returned commercial concentrate grades of up to 30.5% Cu, 1,280g/t Ag & 28.7g/t Au with low levels of deleterious elements. Sulphide ore with greater than 0.15% Cu is very amenable to flotation. Lock cycle tests achieved recoveries of up to 95.3% Cu, 83.6% Ag & 79.4% Au. "Apollo flotation results are exceptional by world standards and demonstrate excellent recoveries and very commercial concentrate grades encompassed within a small volume of concentrate material,” said metallurgical consultant John Wells.
CNL also reported assay results for four holes drilled at the Trap target at Guayabales. Highlights included 632.25m @ 1.10 g/t AuEq in hold 7A designed to cross Trap at an orthogonal angle to the mineralisation. Trap a 2km by 2km geochemical anomaly. “By using both down-hole acoustic televiewer and ASD Terraspec technologies, we have confirmed a WNW trend to the mineralisation and that the phyllic alteration flooding the drill core is porphyry-related muscovite. … It is still early days for Trap and based on core interpretation, we do not believe we have found the center of the early porphyry intrusion phase. We will remain aggressive with step-out drilling,” said executive chair Ari Sussman. CNL has added a fifth diamond drill rig as part of its 40,000m drill programme for 2024 with drilling taking place at Trap, Apollo, Olympus and Box.
Omai Gold Mines (TSXV:OMG)
Announced a PEA for its Wenot Au project in Guyana with an initial open pit mining scenario to produce 142koz/y for 13 years, with peak production of 184koz. Wenot would have an estimated AISC of US$1,009/oz, with initial capital is estimated at $375M and sustaining capital of $172M. The project would have a below-average capital efficiency of $155/oz of production. The PEA does not include the adjacent Gilt Creek deposit, which hosts 1.8Moz of resources, although it will likely contribute to an overall future mine plan. Wenot would yield an after-tax NPV of $556M at a 5% discount rate and an IRR of 19.8% with a 4.3-year payback based on a $1,950/oz Au price. At $2,200/oz, these increase to $777Mand 24.7%, and payback reduces to 3.5 years. “This PEA … converts our successful exploration programmes into a baseline production scenario that shows potential for robust economic development for Omai to once again become a large-scale Au producer, supported by the many benefits of a brownfields project including good road access, a nearby skilled workforce and the strong support of government for re-development,” said CEO Elaine Ellingham.
Wenot hosts an indicated resource of 17.6Mt @ 1.48g/t containing 834koz with an additional 1.6Moz of inferred resources. Upside includes expanding resources within and outside the PEA pit in zones identified along strike and at depth, the completion of engineering studies to incorporate Gilt Creek could potentially expand the mine life to more than 20 years and two high-grade near-surface zones could realise the potential for higher-grade process plant feed during initial years of production that would boost economics.
Lundin Gold (TSX:LUG)
Announce initial results from ongoing near-mine exploration at its Fruta del Norte Au mine in SE Ecuador with a high-grade discovery E of FDN. Drilling returned 5m @ 76.95g/t in hole 94 at FDN East. Near-mine exploration returned a highlight of 14.5m @ 32.31g/t in hole 101 at Bonza Sur, while conversion drilling returned 63.6m @ 14.61g/t in hole 84. LUG has 10 rigs with a minimum 65,000m of drilling planned in 2024. “The intercepts continue to enhance our confidence in the district's exploration potential, with a growing pipeline of discoveries around FDN supporting our ability for future resource growth,” said president & CEO Ron Hochstein.
Reunion Gold (TSXV:RGD)
Signed a mineral agreement with Guyana and the Guyana Geology and Mines Commission that provides it with stable fiscal and operating conditions during the life of the Oko West Au project, where a PEA is expected by mid-2024. RGD has committed to prioritising the employment of qualified and suitable Guyanese individuals and implementing a comprehensive training programme to develop the additional skills required to foster local talent. RGD will also fund US$1M/y towards initiatives that promote environmental sustainability and address social needs within surrounding communities, starting upon commercial production or within 24 months from the issuance of a mining license. “This significant milestone marks an important de-risking step towards the development of Oko West and underscores the robust support extended by the Government of Guyana towards the project's development,” said president & CEO Rick Howes.
RGD also said infill drilling continues to expand high-grade Au mineralisation on Block 6 at Oko West. Highlights included 60.4 m @ 1.50g/t in hole 375. “We are pleased to see the identification of further high-grade mineralised shoots at Oko West, resulting from the exploration team’s growing understanding of structural controls and the factors that are localising mineralisation along the Kartuni shear zone,” said CEO Rick Howes.
Aris Mining (TSX:ARIS)
Produced 50,768oz Au in 1Q24 with reduced plant throughput due to planned maintenance at the Segovia processing facility in Antioquia, Colombia. Production is scheduled to increase as the Segovia mine plan progresses to higher-grade zones, with ARIS on track to deliver full-year production guidance of 220-240koz. The Segovia expansion project includes increasing processing capacity from 2,000 to 3,000tpd; geotechnical studies for the plant area have been finalised, engineering and design are underway, and preparations for the new installations are progressing. After expansion, Segovia is expected to produce over 300koz/y. At the Marmato Lower expansion project, the access road to the new processing facility is complete and earthworks in the plant area will commence soon. Cutting of the mine portal face has commenced. Once complete, Marmato is expected to produce 162koz/y for 20 years. ARIS will announce its full 1Q24 financial results on May 14, 2024.
Mako Mining (TSXV:MKO)
Reported net income of US$9.5M in 4Q23 from its San Albino Au mine in Nicaragua at an AISC of $817/oz. The company repaid $6.9M of debt during the quarter. “This was a record quarter on every significant financial and operating metric, including a record for Au ounces recovered, Au ounces sold, adjusted EBITDA, mine OCF and net income, with record low cash costs and AISC. The cash flow from the mine is enabling us to invest in exploration while we strengthen our balance sheet in anticipation of the announced acquisition of Goldsource Mines (TSXV:GXS) later this quarter,” said CEO Akiba Leisman.
Soma Gold (TSXV:SOMA)
Produced 7,335oz AuEq in 1Q24, an increase of 8% over the same period in 2023. SOMA also determined that a strategic shift in the mining method at its Cordero mine will reduce mining costs and optimise production. It has utilised mechanised mining techniques, combining cut and fill and raised stope methods. Transitioning to the conventional raised stope method will facilitate more selective mining practices and result in a higher head grade. “We anticipate the full impact of these changes to be felt in 2H24. The management team believes that the deposit is now being mined under optimal methods,” said president & CEO Geoff Hampson.
Solaris Resources (TSX:SLS)
Reported the first drill results from its 2024 drilling programme at the Warintza Cu-Au project in SE Ecuador. Drilling ramped up through the first quarter rainy season with six rigs now in operation at Warintza Central, East and Southeast, with drilling to continue throughout the year to expand and upgrade resources. Highlights included 150m @ 0.67% CuEq within a broader interval of 384m @ 0.51% CuEq in hole 76 collared on the NE limit of the Northeast Extension zone. Exploration drilling is underway at Patrimonio to follow up on the discovery holes. Regional exploration is underway at the Caya epithermal Au target, 6km NE of Warintza East. A minimum of 30,000m of drilling is planned in 2024, with a resource update expected by the end of June. At the end of 2023, SLS had US$39M in cash and equivalents, with an additional $40M expected from an offtake financing package. SLS plans to expand activities and consolidate the surrounding district.
SLS also said Ecuador’s state mining company, Enami, awarded it an option to acquire up to a 100% interest in 10 new explorations concessions comprising a land package of ~40,000 hectares adjacent to its Warintza Cu-Au project and the San Carlos-Panantza porphyry Cu-Mo deposits within the Zamora belt in SE Ecuador. The new concessions are interpreted to host porphyry Cu and epithermal Au potential. Several porphyry Cu targets are represented by open-ended annular magnetic highs enclosing magnetic lows and erosional depressions, consistent with outcropping deposits within the Warintza porphyry cluster. Fieldwork is set to begin in May. The award is subject to entry into a definitive framework agreement, with the terms expected to include an upfront payment to Enami of US$250k, a proposed exploration programme of up to $25M over the exploration phase and the exclusive option to acquire the claims from Enami at a price to be determined by independent experts. Enami has made similar awards to Barrick Gold (TSXV:ABX) and Hancock Prospecting.
Calibre Mining (TSX:CXB)
Announced drill results from its 2023 resource conversion and expansion programme at its Eastern Borosi mine complex in NE Nicaragua. Highlights included 7m @ 6.87g/t Au in hole 118.Ag highlights included 2.9m @ 1,431.6g/t Ag in hole 18. “The exceptionally high Ag grades demonstrate further potential to capture additional value. … Today’s high-grade results, combined with the established mineral resource base at Eastern Borosi and the potential for mine life extension at our Guapinol operation, confirm the significant mineral endowment of the district,” said president & CEO Darren Hall.
Founders Metals (TSXV:FDR)
Announced drill core assays from the Antino Au project in SE Suriname from four infill holes from the Froyo Zone closed a substantial drilling gap. All four holes intercepted the main Froyo shear where expected with a highlight of 13m @ 11.02g/t in hole 54. "These infill results provide a clear indication of the continuity and strength of Au grades within the main Froyo shear, particularly as we drill to greater depths within the system,” said CEO Colin Padget.
G2 Goldfields (TSX:GTWO)
G2 Goldfields announced an updated resource estimate for its Oko Au project in Guyana, including a discrete high-grade resource for the Oko Main Zone (OMZ) and a disseminated bulk mineable resource for the Ghanie Zone. The total contained Au increased by 69% to 2Moz, within which the indicated resource increased by 320% to 922koz. The combined open pit and underground resource at OMZ is now 2.36Mt @ 9.03g/t in the indicated category for 686koz contained, with an additional 495koz in inferred resources. The combined open pit and underground resource at Ghanie is now 3.34Mt @ 2.2g/t, containing 236koz in the indicated category, with an additional 604koz of inferred resources. “The OMZ has proven to yield exceptional high grade at mineable widths as we drill deeper, and Ghanie is taking shape to be highly complementary to the Oko Au system,” said executive chair Patrick Sheridan.
G2 continues with its exploration of the Oko to Aremu trend and anticipates issuing a further resource update in the December quarter. It said its geological model is becoming more predictive, leading to regular discoveries along the 20km Oko-Aremu trend.
GTWO also said recent drill results at Oko confirm the prospectivity of the area between the high-grade OMZ resource and Ghanie open pit area, 1km to the S. Since February, GTWO has completed 20 holes for 8,600m at Ghanie, for a total of 124 holes for 25,520m. Highlights included 24m @ 2.9g/t in hole 92.
Atico Mining (TSXV:ATY)
Produced 3.34Mlb Cu & 2,156oz Au in concentrates in 1Q24 at its El Roble mine in Choco, Colombia, an increase of 44% for Cu and a decrease of 16% for Au, over the same period in 2023. “The El Roble mine operated in line with set expectations for this quarter as we improved on almost all metrics over the same period last year. For the remainder of the year, the team will be focused on optimising production to take advantage of the higher metal price environment and to deliver on this year’s set guidance,” said CEO Fernando EGanoza.
ATY also announced results from 49 drill holes out in an area of historical mining at its El Roble Cu mine in Choco, Colombia and 16 other holes. Highlights included 20.70m @ 5.76% Cu & 4.46g/t Au. “We continue to see very encouraging results with high-grade intercepts from our mine vicinity drill campaign aimed at infilling,g known areas of mineralisation while at the same time looking for extension of the main historic massive sulphide bodies at the El Roble deposit” said CEO Fernando Ganoza.
ATY also reported an updated resource and reserve estimate as El Roble with M&I resources estimated at 881kt @ 3.4% Cu & 2.98g/t Au and P&P reserves estimated at 828kt @ 2.49% Cu & 2.2g/t Au. ATY said it achieved a conversion rate of 88% of M&I into P&P, extending the LOM until 1Q27. “Our infill and mine vicinity exploration drilling at El Roble mine has yielded very good results intercepting additional high-grade mineralisation in proximity to current mining activity. What is particularly exciting is that we still continue to intercept further mineralisation beyond the cutoff date of this report which is telling us that these areas remain open at depth and along strike,” said Ganoza.
Radius Gold (TSXV:RDU)
And JV partner, Volcanic Gold Mines (TSXV:VG) restarted drilling at the Motagua Norte Au project in Guatemala. “The drilling of the Veta Madre at the Motagua Norte project has intersected a broad zone of quartz veins, vein breccia and micro stockwork in two drill holes, 100m apart,” said president & CEO Simon Ridgway.
Outcrop Silver & Gold (TSXV:OCG)
Began its 2024 drilling programme at its Santa Ana Ag project in Tolima, Colombia targeting the amplifying mineralisation at existing targets and uncovering new prospects to show the project's scalability. “By targeting both established and new areas, we're poised to showcase Santa Ana's scalability and OCGs significant leverage to the improving Ag market,” said president & CEO Ian Harris.
OCG also announced breakthrough results from initial gravimetric concentration test work to enhance recoveries at Santa Ana, proving the use of mechanical gravimetric processes before conventional flotation. The resulting gravimetric concentrate yielded 2,883g/t Ag & 164.12g/t Au. "We are thrilled about the latest gravimetric concentration tests having not only achieved concentrate grades well exceeding 150g/t AuEq, a key marker for highly marketable concentrates. With a 7% recovery via gravimetric methods complementing our 93% flotation recoveries, and without the use of cyanide, we are setting new benchmarks for economic viability and reducing our environmental footprint in precious metals mining," said [president & CEO Ian Harris.
Aurania Resources (TSXV:ARU)
Announced its 2024 exploration plan in SE Ecuador, focusing on the Kuri-Yawi epithermal Au target area. During 2020 and 2021, nine scout holes were drilled to test the soil geochemistry anomalies and a geophysical anomaly detected during the 2021 MobileMT survey. The results at that time showed intense and pervasive hydrothermal clay mineral alteration and silica-carbonate veinlets exhibiting epithermal textures, which are encouraging features consistent with proximity to an epithermal system.
Corporate
Lundin Gold debt free
Lundin Gold (TSX:LUG) entered into an agreement with Newmont (NYSE:NEM) to buy out the balance of the stream credit facility and offtake agreement for its Fruta del Norte Au mine in Ecuador for US$330M. These were established in 2017 as part of a project financing package to fund the development and construction of FDN. The stream was repayable in monthly instalments equivalent to 7.75% of Au production less $408/oz and 100% of the Ag production less $4.08/oz up to a maximum of 350koz Au & 6Moz Ag. “With this milestone complete, LUG will have repaid all of its project finance debt in full only four years after achieving commercial production at FDN. Upon closing, the company will be debt free and have increased exposure to rising Au prices, resulting in increased amounts of free cash flow to support capital allocation initiatives,” said president & CEO Ron Hochstein.
Codelco sues Ecuador (again)
Chile’s state Cu company Codelco is suing Ecuador after its state mineral company Enami stopped the copper giant from bidding to obtain new concessions near its Llurimagua JV project in Ibarra, which was won by Hancock, who agreed to invest US$120M. Codelco believes it was discriminated against after it was prevented from bidding due to a rule that disqualifies companies that are litigating against the state. Codelco has an arbitration case active against Ecuador relating to the failure to advance Llurimagua.
Barrick executes Neita earn-in
Barrick Gold (TSX:ABX) executed an earn-in agreement with Unigold (TSXV:UGD) on the Neita Norte exploration concession in Dominican Republic, which includes a shareholders agreement to govern the JV which will be formed upon successful completion of the earn-in requirements. As announced in July 2023, UGD granted ABX the exclusive option to acquire a 60% undivided interest in Neita Norte by incurring US$2.5M of expenditures within the first three years, incurring not $8M of expenditures within the first six years and delivering a PEA, incurring $12M of expenditures within the first eight years and delivering a PFS, and delivering a written notice electing to exercise the earn-in right. Following the earn-in of a 60% interest, ABX can elect to sole-fund and deliver a FS by the end of year 12 to increase its ownership to 80%. ABX is the manager and operator of the project. “We have always viewed the western portion of the Tireo Formation as being the most prospective for finding large Au deposits in Dominican Republic. … The agreement creates an opportunity for both companies to benefit from the development of this frontier area,” said UGD chair & CEO Joe Hamilton.
Hancock JV with Titan
Hancock Prospecting offered to acquire up to an 80% interest in the Linderos Cu project in Ecuador with Titan Minerals (ASX:TTM). It includes an initial US$2M payment to for an initial 5%, with 10,000m of drilling, or an additional expenditure of $8M to earn an additional 25%, 15,000m of drilling, or an additional expenditure of $12M to earn an additional 21% for a total 51% interest, when it will pay TTM an additional US$1M. At a decision to mine, or a total expenditure of $120M, Hancock will earn an additional 29% for 80% of the total. “We are very pleased to partner with Hancock’s Ecuadorian subsidiary company, Hanrine, which has both the balance sheet and capability to fully explore and develop Linderos. The agreement represents a fantastic endorsement of our belief in Linderos’ potential to host a large-scale Cu porphyry system,” said TTN CEO Melanie Leighton.
Aurania to raise C$4M
Aurania Resources (TSXV:ARU) intends to complete a non-brokered private placement of up to 20M units @ 20c for proceeds of C$4M. Each unit will consist of one share and a warrant exercisable @ 45c for two years. Proceeds will be used for exploration at the Kuri-Yawi target area in Ecuador. ARU also approved a debt settlement arrangement with CEO Dr Keith Barron whereby he will convert up to C$1M of the loans owed to him into stock @ 20c.
ARU also intends to increase the size of the debt settlement arrangement with Dr Barron whereby he will convert up to C$2M of the loans plus $72,165 of interest thereon of into stock.
Solaris lists on NYSE American
Solaris Resources (TSX:SLS) listed its shares on the NYSE American under the ticker SLSR. Its stock ceased trading on the OTCQB Venture Market.
G2 upgrades to TSX
G2 Goldfields (TSXV:GTWO) upgraded its primary listing from the TSXV to the TSX where its shares continue to trade under the ticker GTWO.
Solaris updates IBA
Solaris Resources (TSX:SLS) signed an updated Impact and Benefits Agreement for the Warintza Cu-Au project in SE Ecuador with the Shuar communities of Warints and Yawi to reflect the continued growth and advancement of the project. “We value this initiative because it strengthens positive community relations and provides for the integration of the local population in productive and sustainable activities. This allows the inclusion of a traditionally displaced population,” said Minister of Production, Foreign Trade, Investment and Fisheries Sonsoles García. “The updated IBA brings further support and new opportunities for our people. When Warintza advances, our communities advance with it. Since the signing of the inaugural IBA in 2020, and with the help of the Ecuadorian state, the local impacts in job creation, community infrastructure, and development of programmes in health, education, skills training, entrepreneurship, and innovation have been evident in our daily lives,” said Vicente Froilan Juank, leader of the Shuar Yawi Center.
Aris names Orazietti CFO
Aris Mining (TSX:ARIS) appointed Richard Orazietti as CFO and Oliver Dachsel as SVP Capital Markets. Orazietti was formerly SVP treasury and controller of Goldcorp, while Dachsel was formerly MD on Jefferies' metals & mining investment banking team in New York.
Founders appoints Bertoni as advisor
Founders Metals (TSXV:FDR) appointed Carlos Bertoni as senior technical advisor. Bertoni is a geologist with over 40 years of experience, including the management of exploration projects in the Guiana Shield.