Issue link: http://resourceworld.uberflip.com/i/492982
28 www.resourceworld.com a p r i l / m a y 2 0 1 5 impairment of $55.9 million for its Manantial Espejo gold-silver mine and an impairment of $286.1 million for its Navidad silver proj- ect. Both are located in Argentina. Its Pico Machay gold project in Peru experienced an impairment of $4.8-million. Navidad's impairment came on a combination of lower prices and a relatively high discount that significantly reduced the asset's carrying value, Pan American explained. The com- pany also had to contend with some foreign exchange losses. For full-year 2014, the company's Peruvian mines produced 1.55 million ounces silver, while its San Vicente silver mine in Bolivia produced 3.95 mil- lion ounces silver. Production at Manantial Espejo stood at 3.72 million ounces silver, up 19% year-on-year, and 70,500 ounces gold, up 16% year-on-year, due to record mill throughput. Red eagle Mining Corp. [RD-TSXV] recently arranged a US $65 million financing to construct the fully permit- ted San Ramon gold mine in Colombia. The September 2014 positive feasibility study includes $74 million in initial capital costs with cash costs of $596 per ounce. Post-tax project cash flow would be $132 million with a NPV (5%) of $104 million, an IRR of 53% and payback within 1.3 years. Construction will begin this year in 2015 with production scheduled to com- mence in 2016. Rio Alto Mining Ltd. [RIO-TSX, BVL; RIOM-NYSE] operates the La Arena gold mine and is advancing the Shahuindo gold project that is expected to come on stream in early 2016. Both properties are located in Peru. On February 9, the company announced that it will be merging with Tahoe Resources Inc. [THO-TSX; TAHO- NYSE], which operates the Escobal silver mine in Guatemala. Existing Tahoe and Rio Alto shareholders will own approxi- mately 65% and 35% of the combined company, respectively. On January 12, Rio Alto announced that La Arena production stood at 222,255 oz gold poured for full- year 2014, which compares with guidance of 200,000-220,000 ounces. The company forecasts 210,000-220,000 oz gold produced for 2015. The World Gold Council all-in cost for production for 2015 is expected to fall in a range of $ 740-775/oz. Tinka Resources Ltd. [TK-TSXV] is advancing two Peruvian projects: Ayawilca and Colquipucro. On February 26, the company announced its first mineral resource for Ayawilca, which stands at a total of 13.3 million tonnes inferred, grad- ing 7.7% zinc equivalent and comprising 1.7 billion lbs zinc, 909,000 kg indium, 5.8 million oz silver and 55 million lbs lead. On January 15, Tinka unveiled results of a 10-hole drill campaign at Colquipucro. Highlights included hole CDD45, which returned 75 g/t silver from 4.0-140.0 metres, and CDD44, which returned 54 g/t silver from 6.0-80.0 metres. Colquipucro currently comprises 7.4 million tonnes indicated, grading 60 g/t silver for 14.3 million ounces contained. The inferred resource stands at 8.5 million tonnes at 48 g/t silver for 13.2 million ounces con- tained. n OUR STRENGTH IS PEOPLE NOW HIRING FOR POSITIONS IN: Environment Geology Metallurgy & Processing Mining Engineering Mine Improvement & Support Operations & Maintenance Strategy Project Development Study Management Corporate Affairs Corporate Social Responsibility Finance Human Resources Legal & Ethics Operational Excellence Safety & Health Supply Chain NYSE: GG | TSX: G GOLDCORP.COM/CAREERS