| | | NRN, MAI
Northern SHield Resources aka NRN announced they had received all permits the applied for for further exploration on their Root & Cellar Au/Ag/Cu prospect in Newfoundland. Trenching resumes in February, followed by geophysics and, if warranted, drilling.
Message 34173176
Minera Alamos aka MAI brought us a mixture of good and bad news when they released an update on their Mexican gold mining operations, and according to the market, the bad news won out.
First, the good news, which regards their operating Santana mine. They have finally declared commercial production,, and they have submitted permits to triple the size of the heap leach to process the new mineralization discovered during 2022.
Now the bad news. With the continuation of of La Nina for an unprecedented third straight year and consequent drought conditions for this part of Mexico, MAI has shut down operations at Santana until the water supply improves. Fortunately they have other things that need doing on the site that do not require water, like waste stripping and exploration, and have more than enough cash on hand to ride out the shutdown. And, as the IKN blog points out (see link below), the gold isn't going anywhere.
MAI is also busy preparing for the construction of their next mine, Cerro de Oro. Hydrological drilling is underway, and permits will be submitted at the end of this quarter. Meanwhile, behind the scenes, engineering work continues and other preparatory work is underway.
As well, they continue to work on the potential spinout of Minera Copper, which would hold the Los Verdes and Poteritos copper deposits located near Santana.
Message 34175770
And here's the hand-holding re MAI from the IKN blog
iknnews.com |
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