Welcome to our dedicated page for Prime Mining news (Ticker: PRMNF), a resource for investors and traders seeking the latest updates and insights on Prime Mining stock.
Prime Mining Corp (PRMNF) delivers focused exploration of gold and silver resources in Mexico's mineral-rich regions. This news hub provides investors and industry observers with essential updates on drilling progress, resource evaluations, and strategic developments.
Access timely reports covering operational milestones including new drilling campaigns, technical study results, and resource expansion initiatives. Our curated collection features verified updates on exploration methodologies, geotechnical assessments, and compliance with mining regulations.
Key content categories include quarterly operational summaries, drilling result analyses, mineral resource updates, and strategic partnership announcements. Each update maintains rigorous standards for technical accuracy and regulatory compliance.
Bookmark this page for direct access to Prime Mining's latest developments. Regularly updated information supports informed monitoring of the company's progress in advancing its high-grade mineral targets through systematic exploration programs.
Prime Mining Corp. reported its operating and financial results for the year ended December 31, 2022, highlighting outstanding exploration efforts at its Los Reyes Gold-Silver Project in Mexico. The Company completed significant drilling, exceeding its plans, with an updated mineral resource estimate expected in May 2023. In Q4, Prime raised C$21 million through a private placement. Key financial data includes a loss of $27.4 million compared to $14.3 million the previous year, with a loss per share of $0.24. Total assets decreased to $38.1 million from $41.8 million, while cash reserves fell to $23.8 million. Despite the losses, the Company maintains a strong capital structure and a proactive approach towards ESG commitments, aiming to minimize environmental impacts and boost community engagement.
Prime Mining Corp (OTCQX: PRMNF) announced promising assay results from drilling outside current resource areas, indicating significant exploration potential ahead of its Q2 2023 mineral resource update. The results highlight high-grade intercepts, particularly in the Fresnillo and Orito areas, with notable grades including 1.7 g/t AuEq over 19.3m. The company aims to drill 35,000 meters in 2023, focusing on expanding mineralized targets beyond established zones. This initiative reinforces the potential of the Los Reyes project in Mexico, aiming for additional gold-silver discoveries.
Prime Mining Corp. (PRMNF) has announced the granting of 700,000 incentive stock options to management and 307,838 deferred share units to its board of directors. The options are priced at $1.97 per share, vesting over 18 months. The Los Reyes gold-silver project in Mexico, acquired in 2019, has seen an investment of around $30 million in exploration, indicating potential for additional mineral discoveries. Historic recovery data shows an estimated 1 million ounces of gold and 60 million ounces of silver previously extracted. The company aims to leverage its experienced management team to fully unlock the project's potential.
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