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Resource World - Oct-Nov 2015 - Vol 13 Iss 6

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o c t o b e r / n o v e m b e r 2 0 1 5 www.resourceworld.com 15 other projects, including the La Negra breccia prospect. On June 15, the com- pany announced positive results for a rock sampling campaign at La Negra, which included silver values averaging 16 g/t. On July 16, Kootenay announced it had started work on La Negra's NI 43-101-com- pliant maiden resource estimate, along with preliminary metallurgical studies. MAG Silver Corp. [MAG-TSX; MVG- NYSE MKT] is developing an underground decline and mining infrastructure at the Juanicipio silver project in Zacatecas State, Mexico, which is a joint venture between MAG (44%) and Fresnillo Plc. [FRES- London] (56%). MAG also continues to explore the Juanicipio Project and the Salamandra property earn-in. On August 14, it announced a net loss of almost $2.14 million for Q2 2015 compared with a net loss of $2.06 million for Q2 2014. See MAG Silver article page 26. Maya Gold & Silver Inc. [MYA-TSXV] aims to bring the Zgounder silver mine in Morocco back on stream. On July 29, Maya reported results of its spring campaign at Zgounder, with highlights including hole ZG-EXT-17, which returned 238 g/t silver from 294-327.5 metres. On July 30, the company announced it was planning to sign a $6 million financing agreement with the European Bank for Reconstruction and Development. Mines Management Inc. [MGT-TSX] is advancing the Montanore silver-copper project in northwest Montana. The project comprises around 81.5 million tons, averag- ing 2.04 oz silver/ton and 0.74% copper in two mineralized zones. On August 18, the company reported the "objection and reso- lution" phase for project permitting had been completed, moving it closer towards the issuance of a Final Record of Decision. Pan American Silver Corp. [PAA- TSX; PAAS-NASDAQ] has seven silver operations in Mexico, Peru, Bolivia and Argentina. The company produced 6.65 million ounces silver for Q2, which com- pared with 6.56 million ounces silver for Q2 2014. It also reported $174.2 million in revenue, 13% less than Q2 2014. The decline was primarily due to lower metal prices; negative settlement adjustments on concentrate sales; lower quantities of zinc, lead and gold sold; and higher treatment and refining charges. Primero Mining Corp. [P-TSX; PPP- NYSE; MNCWF-OTCQB] operates the San Dimas gold-silver mine in Mexico. On August 6, the company announced the lifting of an import and export license sus- pension that was imposed in May because of a discrepancy surrounding the address of its Mexican subsidiary. Primero has now started to sell stockpiled silver com- prising 2 million ounces, with 1.2 million to be delivered to Silver Wheaton Corp. under its purchase agreement. The remain- ing inventory will be sold into the spot market. Santacruz Silver Mining Ltd. [SCZ- TSXV; SZSMF-OTCQX] operates the

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