Yamana Financing from their Equinox Shares

Welcome to Mining Stock Daily. This is your host, Trevor Hall

Today is Monday, April 913th.

The gold price surged $65 to its highest level in over 8 years on Thursday as the Fed

signaled with a new 2.3 trillion dollar money printing program it was willing to go Weimar with its printing press in order to continue bailing out the banks and hedge funds from the reckless leveraged subprime credit market bets placed over the last 10 years and which are now imploding. Oh and the Fed is tossing a token amount of printed money in the form of loans to Main Street small businesses. Silver was up even more than gold on a percentage basis Friday. While gold extended its gains above the 50 day moving average, silver is now playing catch-up and is starting to reach for its 50 day moving average. The gold/silver ratio dropped to multi-week low of 109 and traded as low as 105 on Friday. The Mining Stock Journal commented that both gold and silver are poised for huge moves higher now that tide has gone out and the Fed is revealed to have shown its hand.

We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor. 

This episode of Mining Stock Daily is brought to you by... Corvus Gold.

Corvus Gold. Corvus is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange with the symbol KOR and on the OTCQX with CORVF. Follow all the news form Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com.  

And here’s what you need to know this morning …

GR silver shared drill results from the San Juan area at the recently acquired Plomosas Silver Project in Sinaloa. The results shared today were a combination of recent data and historical drilling data and included 1,419 g/t silver and 15.5 gpt gold over 3.5 meters. CEO Marcio Fnseca said “The drill results suggest continuous high-grade vein/breccia mineralization hosted by major regional structures with true thickness ranging from 2.5 m up to 20 m.” The existing drill hole results on the Plomosas Project were generated by drill campaigns completed by Grupo Mexico ("Grupo Mexico") in the period 1982-2000 and First Majestic Silver Corp. ("First Majestic") in the period 2016-2018. The primary objective of Grupo Mexico was the discovery of base metals as potential feed for their Plomosas/La Cruz flotation plant operations nearby. First Majestic followed up by drilling wide-spaced drill holes on the six initial exploratory targets, with a focus on silver and gold, as well as defining new zones. Neither Grupo Mexico nor First Majestic previously released any of these drill results to the public. GR Silver trades on the TSX Venture with GRSL and on the OTCQB with GLYXF. News Release

Golden Minerals announced this morning it has entered into an earn-in agreement with Barrick Gold as to Barrick for a 70% interest in Golden’s El Quevar Project in the Salta Province of Argentina. As part of the Agreement, Barrick will purchase US$1.0 million of Golden Minerals shares pursuant to a private placement transaction at a price of $0.21 per share. In order to earn the interest, Barrick must spend $10 million in exploration over 8 years and deliver an NI 43-101 compliant pre-feasibility study. Golden will form a new entity that will hold the El Quevar properties.  Golden Minerals trades on the TSX and the NYSE with AUMN. News Release

Yamana Gold announced it has into an agreement with Stifel GMP and Cormark Securities Inc to sell 12,000,000 units at a price of C$10.00 per Unit to qualified purchasers, for gross proceeds to Yamana of C$120,000,000. The Dealers have committed to purchase from Yamana any unsold Units at a price of C$10.00 per Unit on closing, subject to customary conditions for “bought deal” financings. Each Unit consists of one common share of Equinox Gold Inc. owned by Yamana and one-half of a common share purchase warrant of Yamana. Each Warrant shall entitle the holder thereof to acquire one additional common share of Equinox owned by Yamana at an exercise price of C$13.50 for a term of 9 months from the date of issue. In the event all Warrants are exercised, the total gross proceeds to Yamana would be C$201,000,000. Yamana intends to use the net proceeds of the Sale Transaction for general corporate purposes. News Release

Jaguar Mining shared Q1 production numbers this morning for both its Pilar Gold Mine and Turmalina Gold Mine in Brazil. Consolidated production for the quarter hit just over 21,000 ounces compared to just 16,000 ounces in Q1 2019. The company has a treasury made up of cash and bullion totalling $15.6 million. Jaguar Mining trades on the TSX with the symbol JAG. News Release

That’s it from me this morning. We’ll be back throughout the rest of the day today and tomorrow with more commentary. Be sure to hit that subscribe button if you have not done so already. 

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