Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia
Tres Amigos mine, a part of the Caballo Blanco Group of mines, has resumed operations after it was shut down following the incident.
Patagonia Gold (LON:PGD) (TSX:PAT), an Argentina-focused gold and silver producer, said today it achieved rapid progress in 2011 and is on track towards its goal of producing 200,000 ounces of gold per year by 2015.
In its 2011 preliminary results release, the company reported a wider loss for the year ended Dec. 31 as it increased exploration expenditures and said its total overall indicated resources for the Company increased by 67% to 1,247,837 ounces and total overall inferred resources rose by 202% to 435,935 ounces.
In April and May, the Company raised approximately $39.2 million in equity capital before expenses. These funds were expended in 2011 to finance the fast drilling program at the Patagonia’s flagship Cap-Oeste gold and silver project.
Mining at COSE, the firm’s second major project after Cap-Oeste, is scheduled to begin in early 2013.
The company, which started trading on the Toronto Stock Exchange on Dec. 7 last year, said it had $10.9 million in cash and cash equivalents, net of a bank overdraft as per Dec. 31.
