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) generated news primarily around the exploration and development of its Los Reyes gold-silver project in Sinaloa State, Mexico and, later, its acquisition by Torex Gold Resources Inc. This page provides a historical news archive for Prime Mining, covering the period when it operated as an independent gold ore mining and exploration company and was listed on the Toronto Stock Exchange, OTCQX and Frankfurt Stock Exchange.
Earlier news items focus on technical and corporate milestones at Los Reyes. These include updates on drilling and geological interpretation across the Guadalupe, Central and Z-T deposit areas, resource estimate announcements prepared under CIM and NI 43-101 standards, and the selection of Ausenco Engineering Canada ULC to lead a Preliminary Economic Assessment (PEA) on the project. Releases also describe Prime Mining’s exploration strategy, QA/QC protocols, and its work with technical consultants on metallurgical, geotechnical and mine planning studies.
Other recurring themes in the news flow include corporate developments such as warrant exercises, annual general meeting voting results, and the publication of sustainability and ESG reports. The company also reported on community engagement initiatives with local ejidos and the status of drilling operations, including a pause in drilling in response to security conditions in parts of Sinaloa.
Later news is dominated by the plan of arrangement with Torex Gold Resources Inc., securityholder approvals, court orders, regulatory clearances and, ultimately, the completion of the transaction under which Torex acquired all Prime shares. Following this transaction, Prime shares were expected to be delisted and Prime to apply to cease to be a reporting issuer. Investors and researchers can use this news archive to understand the historical evolution of Prime Mining, the technical narrative around Los Reyes and the steps that led to its acquisition.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.
Prime Mining Corp (OTCQX: PRMNF) announced its 2023 work strategy for the Los Reyes high-grade gold-silver project in Mexico. CEO Daniel Kunz detailed a plan for an initial 35,000-metres of drilling, focusing on extending known resources and testing new exploration targets. This follows 110,000 metres of drilling completed in 2021 and 2022, contributing to an updated mineral resource estimate expected in Q2 2023. The company is fully funded for these initiatives, thanks to a $21 million private placement.
Prime aims to enhance its geological understanding and advance technical inputs for future project development.
Prime Mining Corp. has announced significant progress in its Phase 2 drilling program at the Los Reyes gold-silver deposit in Mexico, marking the start of Phase 3 drilling. Results from 48 drill holes in the Z-T area reveal high-grade intercepts, including 10.0 g/t gold and 131 g/t silver over 3.1m. The mineralized footprint covers over 15 square kilometers, with an updated resource estimate expected by mid-2023. CEO Daniel Kunz noted the continuous growth of resource pits and the positive potential for resource expansion.