Welcome to our dedicated page for Guanajuato Silver news (Ticker: GSVRF), a resource for investors and traders seeking the latest updates and insights on Guanajuato Silver stock.
Guanajuato Silver Company Ltd. reports operating and corporate developments as a Mexico-focused precious metals producer. The company produces silver and gold from the Bolanitos mine, El Cubo Mines Complex, Valenciana Mines Complex and San Ignacio mine in Guanajuato, and produces silver, gold, lead and zinc concentrates from the Topia mine in Durango.
Recurring updates include production and financial results, NI 43-101 technical reports, mineral resource and reserve estimates, drilling programs, mine optimization initiatives, completed asset acquisitions, board appointments, stock option grants and at-the-market equity activity. Company news also addresses concentrate sales exposure to silver and gold and operating risks tied to underground mining in Mexico.
Guanajuato Silver Company Ltd. (GSVRF) has initiated underground drilling at its El Cubo mine, located near Guanajuato, Mexico. This drill program, managed by Rockdrill Mining, is set to cover 5,200 meters to enhance resource confidence and grade control as mining begins. Concurrently, the primary crusher has been successfully recommissioned, with operations expected to resume in Q4 2021. GSilver currently employs 168 people, primarily local nationals, reflecting its commitment to the regional economy.
Guanajuato Silver Company Ltd. (GSVRF) has commenced stockpiling mineralised material from its El Cubo mine, ahead of schedule, in preparation for operations at the El Cubo mill. The Company signed a 17-month contract with MGA Mine Contractors to provide mining services until December 2022. Focused on the Villalpando Stopes, GSilver aims to extract up to 15,000 tonnes of material per month once fully operational. The strategic partnership with MGA allows GSilver to reduce capital expenditures while leveraging mining expertise.
Guanajuato Silver Company Ltd. has drawn down US$7.5 million from its loan facility with OCIM Group to support the refurbishment of the El Cubo mine in Mexico. This non-dilutive financing strengthens the company’s balance sheet, allowing preparatory steps for commercial production in Q4 2021. The loan will be repayable over 12 months, using approximately 25% of projected silver and gold output. With existing cash of C$4.1 million, GSilver has a total of C$13.3 million for mine operations. Market-making services have also been retained to enhance liquidity.
Guanajuato Silver Company Ltd. (GSVRF) has reported ongoing underground drilling progress at the El Pinguico project, yielding positive results from drill holes P21-09 and P21-10. The latter returned 0.90m of 5.96 gpt Au and 476 gpt Ag, with broader intervals of 8.10m of 1.00 gpt Au and 93 gpt Ag. Despite delays due to assay lab bottlenecks, drilling has resumed, and further drill holes are in progress. A comprehensive drilling program is planned, targeting additional vein connections, which could lead to the first in-situ resource estimate for El Pinguico.
Guanajuato Silver Company Ltd. (GSilver) announced its participation in the Emerging Growth Conference on June 23, 2021, at 12:00 PM ET. The presentation targets individual and institutional investors, with a registration link provided for attendees. GSilver also updated on the El Cubo mine refurbishment, targeting commercial production in Q4 2021. Progress includes staffing, mill refurbishment, and mine maintenance, with over 85 positions filled. The company aims for increased metallurgical recoveries and has engaged external experts for ongoing operations.