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First Majestic Silver Produces 7.3 Million Silver Equivalent Ounces In Q3 2021

First Majestic Silver Corp. (TSX: FR) provided this morning the production results for Q3 2021. The results highlighted producing 7.3
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This article was originally published by The Deep Dive

First Majestic Silver Corp. (TSX: FR) provided this morning the production results for Q3 2021. The results highlighted producing 7.3 million silver equivalent ounces for the quarter, up from Q2 2021’s 6.4 million ounces and Q3 2020’s 5.2 million ounces.

The silver equivalent production for the quarter consists of 3.3 million silver ounces and 54,525 gold ounces produced.

The total quarterly production comes from the firm’s four producing operations: the San Dimas silver/gold mine, the Jerritt Canyon gold mine, the Santa Elena silver/gold mine, and the La Encantada silver mine. San Dimas contributed 3.4 million silver equivalent ounces to the total production for the quarter.

“The record quarter was primarily due to having a full quarter of production from the Jerritt Canyon operation in addition to continued strong production performance at San Dimas and La Encantada,” said First Majestic Silver CEO Keith Neumeyer.

The mining firm also relayed that it decided to suspend silver sales for the third time in its history due to “the relative weakness in the silver price throughout the quarter.” At quarter’s end, it held 1.4 million ounces of silver in inventory.

The company expects to release full financial results for the quarter on November 4, 2021.

First Majestic Silver last traded at $14.13 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post First Majestic Silver Produces 7.3 Million Silver Equivalent Ounces In Q3 2021 appeared first on the deep dive.

Precious Metals

Bitcoin Surges Above $60k For The First Time In 6 Months

Bitcoin Surges Above $60k For The First Time In 6 Months

Cryptos are all rallying this morning but Bitcoin is making headlines as it broke…

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Bitcoin Surges Above $60k For The First Time In 6 Months

Cryptos are all rallying this morning but Bitcoin is making headlines as it broke back above the $60,000 level for the first since April...

Source: Bloomberg

This has extended a recent run from around $40,000 which has been driven by increasingly optimistic signs of a Bitcoin ETF being imminent...

Source: Bloomberg

This has pushed Bitcoin back up to be the world's 8th largest asset (just below that of Silver), and well above $1 trillion market cap...

Source

Citing “people familiar with the matter,” Bloomberg has reported that the United States Securities and Exchange Commission is poised to approve the first Bitcoin futures ETFs in the country.

The anonymous sources said:

“The regulator isn’t likely to block the products from starting to trade next week.”

Bloomberg's Eric Balchunas recently laid out his odds for which of the numerous ETF proposals will be accepted first...

And for those in the "digital gold" camp, this analog from the '70s is interesting. CoinTelegraph reports that Austrian investor and analyst Niko Jilch this week referenced famed investor Paul Tudor Jones while explaining the “excitement” over the Bitcoin ETF.

Tudor Jones had previously highlighted Bitcoin’s cycles being similar to gold in the 1970s — just when it had become a futures product itself and enjoyed a 10-year bull run followed by a 50% correction.

Gold’s 1970s rip, TechDev additionally noted, fits extremely neatly over Bitcoin’s performance since October 2020.

Finally, not to be forgotten, Ethereum is holding above $3800...

Tyler Durden Fri, 10/15/2021 - 10:34
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Precious Metals

Roscan Gold Reports Closing Of $6.4 Million Strategic Investment By Asante Gold

Roscan Gold Corporation (TSXV: ROS) announced today the completion of the previously announced strategic investment by Asante Gold Corporation (CSE:
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Roscan Gold Corporation (TSXV: ROS) announced today the completion of the previously announced strategic investment by Asante Gold Corporation (CSE: ASE). The investment is reported to be worth $6.4 million and is intended to advance the company’s 100%‐owned Kandiole gold project in West Mali.

Under the terms, Asante Gold subscribed 22.1 million Roscan Gold common shares at $0.29 per share. This results in Asante Gold owning approximately 6.3% of the outstanding Roscan Gold common shares.

“We are delighted with the financial closing of the strategic investment. This new strategic investment increases our ability to unlock the substantial value at the Kandiole Project with a proven mine building team and a dominant land position in a prolific mining camp,” said Roscan Gold CEO Nana Sangmuah.

Still within the agreement, after one year or when Asante Gold effectively owns less than 5% equity, whichever comes first, Asante Gold will vote in accordance with the recommendations made by the Roscan Gold management or the board of directors.

Roscan Gold last traded at $0.28 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Roscan Gold Reports Closing Of $6.4 Million Strategic Investment By Asante Gold appeared first on the deep dive.

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i-80 Gold Closes Asset Exchange Agreement With Nevada Gold Mines

i-80 Gold Corp. (TSX: IAU) announced on Thursday that it has completed the previously announced asset exchange agreement with Nevada
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i-80 Gold Corp. (TSX: IAU) announced on Thursday that it has completed the previously announced asset exchange agreement with Nevada Gold Mines. The move is part of the firm’s comprehensive plan to put up a mining complex in Nevada.

“With the closing of this transaction, we now embark on our aggressive growth plan to achieve our goal of building a prominent mid-tier gold producer,” said i-80 Gold EVP Business and Corporate Development Matthew Gollat. “Becoming one of only three companies in Nevada with infrastructure to process refractory mineralization, i-80 has gained a strategic advantage for long-term mine development.”

Under the agreement, i-80 Gold acquired from Nevada Gold Mines the Lone Tree and Buffalo Mountain gold deposits, and certain processing infrastructure, including an autoclave.

In exchange, the mining firm gave Nevada Gold Mines its 40% equity in the South Arturo property held by its subsidiary Goldcorp Dee, the assigned option to acquire the adjacent Rodeo Creek exploration property held by its subsidiary Au-Reka Gold, contingent $50 million based on production from the Lone Tree property, and substitute bonding arrangement related to the Lone Tree and Buffalo Mountain reclamation obligations.

At the closing of the transaction, Nevada Gold Mines reimbursed i-80 Gold approximately $7.3 million concerning the funds used at South Arturo truck haulage test work and funds that were not used for reclamation activities.

The 50% ownership in the South Arturo mine consolidates Nevada Gold Mines’ 100% equity on the property. On the other hand, the $50-million contingent is disbursed via $25.00 per recovered gold equivalent ounce identified in the feasibility study and $25.00 per ounce of produced gold in excess.

Related to the agreement, i-80 Gold also closed a concurrent private placement financing selling 39,041,515 common shares at $2.62 per share for aggregate gross proceeds of approximately $102,288,769. Nevada Gold Mines purchased 22,757,393 shares in the private placement, effectively owning 9.9% equity in the company.

The firm intends to use the proceeds of the private placement to fund the acquisition of the Ruby Hill mine, as well as the exploration and development of its Nevada mineral projects, the NGM Properties, and the McCoy Cove property, and for general corporate purposes.

i-80 Gold last traded at $3.45 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post i-80 Gold Closes Asset Exchange Agreement With Nevada Gold Mines appeared first on the deep dive.

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