Para Resources Inc. announces it has entered into Definitive Agreements with Mineros, S.A. to acquire 100% of its wholly owned subsidiary Operadora Mineras S.A.S. for US$5.5 million. Operadora owns 100% of the La Ye Gold Operations and associated mineral rights. During its due diligence enquiries Para was able to confirm, based on financial statements audited by Deloitte and Touche, Ltda, that the Operadora mine has been [...]
Para Resources Inc. announces that due to circumstances created by the COVID-19 pandemic, the British Columbia Securities Commission and other members of the Canadian Securities Administrators granted "Issuers" in the Canadian securities industry up to an additional 45 days, to complete year-end statutory filings. The Company does not believe that it will be able to file its December 31, 2019 audited annual financial [...]
Aura Minerals Inc. and Para Resources Inc. are pleased to announce that, further to the joint press releases issued by Aura and Para on February 10, 2020 and March 9, 2020, Aura completed the purchase of all of the issued and outstanding shares of Para's wholly-owned subsidiary Z79 Resources, Inc. on March 27, 2020. Z79 owns through Gold Road Mining Corp. the Gold Road Mine located in Arizona and various options to [...]
Also Announces Management Changes Para Resources Inc. announces that the focus will be on the Company's Colombia assets and other opportunities in South America. As such, the Company announces that Mr. Javier Cordova has been appointed by the Board of Directors to serve as the President & CEO of the Company. C. Geoffrey Hampson has resigned as the Chief Executive Officer, Ian Harris has resigned as the President and as a [...]
Para Resources Inc. is pleased to announce that Colombia Milling Ltd. a wholly owned subsidiary of the Company has entered into a binding letter of intent with Mineros, S.A. to acquire 100% of the shares of Operadora Mineras S.A.S. for US$5.5 million in cash. Photo - El Bagre Plant To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/3819/51318_fec1c57664b1caf5_001full.jpg The [...]
Para Resources Inc. is pleased to announce that it has arranged a non-brokered private placement for total gross proceeds of up to C$5,000,000. The Private Placement will consist of up to 50,000,000 units at a price of C$0.10 per unit . Each Unit is comprised of one common share of the Company and one common share purchase warrant . Each Warrant entitles the holder to acquire one common share of the Company for a period [...]
Dore production at Gold Road over 730 ounces of gold month-to-date With reference to today's press release, Para Resources Inc. announces the termination of the contract mining agreement with Clark Construction and the transition to self-operation of the mining operations of the Gold Road Mine. The company would like to clarify that the decision to self-operation and hence, the termination of the contract mining agreement [...]
Doré production at Gold Road over 730 ounces of gold month-to-date Para Resources Inc. announces the termination of the contract mining agreement with Clark Construction and the transition to self-operation of the mining operations of the Gold Road Mine. Clark Construction consistently failed to achieve the projected staffing, equipment availability, and as a result, the mine was not meeting the production plan [...]
Para Resources Inc. is pleased to announce that on November 5, 2019, the Gold Road Project successfully smelted and poured a 380.0 ounce doré bar containing 220.8 ounces of gold. Figure 1 To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/3819/49527_figure1.jpg Ian Harris, President of Para Resources, stated, "The production of a doré bar is a significant milestone [...]
Para Resources Also Announces Final Close of Over-Subscribed Private Placement Raising $10.8M Para Resources Inc. is pleased to announce that, in anticipation of the October 23rd start-up of the mill, the Gold Road mine shifted from focusing on extending and deepening the main accesses of the mine to stope development in 6 faces in the mine. During the month, the mine steadily increased the daily haulage of mineralized [...]
Para Resources Inc. is pleased to announce that it has closed $510,000 in the third tranche of the previously announced Private Placement of Units. The Company has issued 5,100,000 Common Shares and 5,100,000 share purchase warrants . This brings the total raised in the first three tranches of this Private Placement to 95,448,706 Shares and 95,448,706 warrants for total combined proceeds of $8,544,871. Each Warrant [...]
Strong Mine Production and Start of the Gold Road Mill puts the Project Back on Track Para Resources Inc. is pleased to announce the successful start of the Gold Road mill and CIL plant on October 23rd, with expected doré production to begin in early November. During an extended circuit test in Q1 of 2019, the mill and plant operated as planned and achieved doré production at the benchmark gold recovery rate [...]
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