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  • Yamana Gold Announces First Quarter 2016 Results

    TORONTO, ONTARIO--(Marketwired - May 4, 2016) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) ("Yamana" or "the Company") is herein reporting its financial and operational results for the first quarter 2016, including net earnings of $38.4 million or $0.04 per share, adjusted earnings(1) of $28.8 Read More

  • Franco-Nevada Reports Strong Q1 2016 Results and Increases Quarterly Dividend

    TORONTO, May 4, 2016 /CNW/ - Franco-Nevada Corporation (TSX: FNV; NYSE: FNV) is pleased to report its financial results for the first quarter of 2016. All figures are in U.S. dollars unless noted and highlights include: Record 106,621 Gold Equivalent Ounces(1) Read More

  • Osisko Reports First Quarter 2016 Results

    MONTREAL, QUEBEC--(Marketwired - May 4, 2016) - Osisko Gold Royalties Ltd (the "Company" or "Osisko") (TSX:OR) reports today first quarter adjusted earnings of $8.7 million ($0.09 per basic share). First Quarter 2016 Highlights 9,404 gold ounces earned and 9,417 ounces sold (Q1 Read More

  • Denison Reports Results From Active Q1 2016, Including Positive Economics for Wheeler River and Sale of African Assets

    TORONTO, ONTARIO--(Marketwired - May 4, 2016) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN) today filed its Consolidated Financial Statements and Management's Discussion & Analysis ("MD&A") for the period ended March 31, 2016. Both documents can be found on the Read More

  • Thompson Creek Reports First Quarter 2016 Financial Results

    DENVER, May 4, 2016 /CNW/ - Thompson Creek Metals Company Inc. (TSX: TCM) (OTCQX: TCPTF) (the "Company" or "Thompson Creek"), a North American mining company, announced today financial results for the three months ended March 31, 2016, prepared in accordance with Read More

  • Dundee Precious Metals Announces 2016 First Quarter Results

    TORONTO, ONTARIO--(Marketwired - May 4, 2016) - (All monetary figures are expressed in U.S. dollars unless otherwise stated) Dundee Precious Metals Inc. (TSX:DPM) - Q1 2016 Financial and Operating Highlights: Metals production from continuing and discontinued (Kapan) operations - Achieved gold and copper production Read More

  • Great Panther Silver reports first quarter 2016 financial results

    VANCOUVER, May 4, 2016 /CNW/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") today reported financial results for the Company's three months ended March 31, 2016. The full version of the Company's unaudited condensed interim Read More

  • Agnico Eagle Provides a Progress Update on the Barsele Au-VMS Project, indicating expansion of the mineralized zone

    VANCOUVER, May 4, 2016 /CNW/ - Barsele Minerals Corp. – (TSX-V: BME) ("Barsele") is pleased to report to its shareholders recently-released operational progress on the current exploration program within the Barsele Au-VMS Project area in Västerbottens Län, northern Sweden (the "Barsele Project") Read More

  • Primero Reports First Quarter 2016 Financial Results; San Dimas Production Rates Returned to Plan in April

    TORONTO, ON--(Marketwired - May 04, 2016) - Primero Mining Corp. ("Primero" or the "Company") (TSX: P) (NYSE: PPP) today reported financial results for the first quarter ended March 31, 2016. Highlights: Creating and Sustaining a Safety-First Culture: As reported on April 18, Read More

  • Pure Gold Reports Additional Near Surface, High Grade Gold at Russet South, Madsen Gold Project

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 4, 2016) - Pure Gold Mining Inc. (TSX VENTURE:PGM) ("Pure Gold" or the "Company") is pleased to announce additional results from drilling at Russet South located on the Company's 100% owned Madsen Gold Project ("Madsen"). Results reported Read More

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FEATURED JUNIOR

Golden Queen Mining Co. Ltd.

Exchange/Ticker: TSX: GQM
Main Asset: Soledad Mountain
Stage:
Production
Operating Region: U.S./California
Profile: Golden Queen Mining is producing gold and silver at the Soledad Mountain Project located just outside the town of Mojave in Kern County, California. The project is utilizing conventional open pit mining methods and cyanide heap leach and Merrill-Crowe processes to recover gold and silver from crushed, agglomerated ore. Production is projected to average 74,000 ounces of gold and 781,000 ounces of silver... VIEW FULL PROFILE

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2015) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(OTCQX:AUNFF) is pleased to report its unaudited financial results for the quarter ended September 30, 2015 ("Q3 2015"). The summary of the selected financial information in this press release should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis for the three months ended September 30, 2015, together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.aurcana.com). All figures are in US dollars unless otherwise noted.

Significant highlights for Q3 2015 were:

  1. Earnings (losses) from mining operations in Q3 2015 were ($1.0) million, compared to $0.6 million in Q3 2014.
  2. Operating cash flow before changes in working capital of ($0.9) million, compared to $0.5 million in Q3 2014.
  3. Cash cost per tonne milled decreased 23.4% in Q3 2015 to $25.29 from $33.01 in Q3 2014.
  4. Cash cost per silver equivalent ounce produced (before treatment, refining and smelting charges - "TCRC") decreased 7% to $7.25 in Q2 2015, compared to $7.79 in Q3 2014.
  5. Total silver equivalent production decreased 16% to 842,334 ounces in Q3 2015, compared to 997,530 ounces in Q3 2014, however increased 8% from 779,339 ounces in Q2 2015.
  6. The average market price of silver decreased to $14.91 in Q3 2015 from $19.76 in Q3 2014.
  7. Average silver grades decreased to 55 g/t in Q3 2015, compared to 65 g/t in Q3 2014, however increased from 52 g/t in Q2 2015.

Earnings

The Company had earnings (losses) from mining operations at La Negra for the quarter ended September 30, 2015 in the amount of ($1.0) million, compared to $0.6 million in Q3 2014, primarily due to weaker metals prices and lower grades of mineralization in mined material, partially offset by lower production costs. Net loss for the quarter increased to ($6.5) million or ($0.08) per share, compared with a net loss of ($3.7) million or ($0.04) per share in Q3 2014.

Revenue

During the quarter ended September 30, 2015, the Company generated total net revenues of $6.8 million (Q3 2014: $11.4 million) from the sale of 266,266 ounces of silver (Q3, 2014: 333,254 ounces); 2,779 tonnes of copper concentrate (Q3, 2014: 3,127 tonnes); 4,003 tonnes of zinc concentrate (Q3, 2014: 4,667 tonnes); and 813 tonnes of lead concentrate (Q3, 2014: 950 tonnes).

The average price obtained for silver, copper, zinc and lead during Q3 2015 were: silver $14.79 (Q3 2014: $19.01) per ounce; copper $2.34 (Q3 2014: $3.17) per pound; zinc $0.78 (Q3 2014: $1.05 per pound; and lead $0.76 (Q3 2014: $0.99) per pound.

Update on Restructuring Transaction

On October 30, 2015, the Company commenced proceedings under the Canada Business Corporations Act (the "CBCA Proceedings") to implement a restructuring transaction (the "Restructuring Transaction") under which all of the Company's debt obligations under the Company's amended and restated senior secured credit facility dated April 29, 2014, will be extinguished. As a result of the Restructuring Transaction, the Company will be able to retain all of its assets, other than certain Mexican subsidiaries that hold the La Negra mine, and will have sufficient working capital to meet its near-term obligations and continue with the Shafter mine as its principal project.

The Company received TSX Venture Exchange acceptance of the Restructuring Transaction on November 27, 2015.

The intended closing date of the Restructuring Transaction has been extended to December 16, 2015, in order to provide time to comply with certain Mexican corporate law requirements.

All documents related to the restructuring and approvals are listed on the homepage of the company's website www.aurcana.com.

To read the complete Financial Statements click on this link:
http://aurcana.com/_resources/financials/Q32015-FS.pdf

To read the complete MD&A click on this link:
http://aurcana.com/_resources/financials/Q32015-MDA.pdf

The Company's shares are also traded in the United States on OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

About Aurcana Corporation

Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter Silver Project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices. The Company is developing new mining plans for both properties as it continues to work to improve margins and shareholder value.

The technical information in this release has been reviewed by Jerry Blackwell (PGeo.), a Director and technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION

Kevin Drover, President & CEO

For further information, visit the website at www.aurcana.com.

NR 13-15

This news release contains certain forward-looking statements, including statements regarding the anticipated closing of the Restructuring Transaction, and the future plans and objectives of the Company, including the future business and anticipated financial performance of the Company. These statements are forward-looking statements that involve various risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to mining and processing of mineralized material, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to international operations, unsuccessful exploration results, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 
Aurcana Corporation
(604) 331-9333
Toll Free: (866) 532-9333
(604) 633-9179 (FAX)

Aurcana Corporation
Gary Lindsey
Corporate Communications
(720) 273-6224
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