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Arian Silver agrees 'pivotal' $32m funding deal

Wed, 15th Oct 2014 13:55

Arian Silver Corporation has raised a "pivotal" $32m (£20.1m) with its partners to fund and advance its San Jose Project in Mexico to full-scale commercial production.The AIM- and Toronto-listed company completed the joint financing package with Quintana AGQ and Quintana San Jose Streaming, subsidiaries of Vancouver-based Quintana Resources.Arian has agreed a financial deal whereby Quintana will acquire a US$15.6m senior secured convertible note with a term of 31 March 2015 and has agreed a metal purchase agreement also worth $15.6m.This metal streaming deal will see Arian sell Quintana Streaming a proportion of the lead and zinc finished metal produced from the San Jose Project.In the case of zinc, Arian will supply 78.2% of the zinc produced from San Jose until 32m pounds of zinc are delivered and 27.4% thereafter.Similarly Arian will supply 78.2% of the lead until 37m pounds of lead are delivered to Quintana and 27.4% thereafter.Chief executive Jim Williams said: "Today's announcement of the wide ranging financing agreements with Quintana marks a pivotal moment in the short history of Arian."Not only will the substantial funds provided allow Arian to complete plant construction at the San Jose mine as previously outlined in detail but also now enable accelerated mine development towards achieving the stated aim of a producing silver and lead/zinc operation at up to 1,500 tonnes per day. It is important to note that the base metal streaming agreement with Quintana only relates to by product lead and zinc leaving Arian completely unhedged in relation to silver."With two Quintana executives to join Arian's board, Williams added that Quintana represented a "long standing and financially strong" group of companies with considerable natural resource expertise.
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4 Nov 2013 10:38

Arian Silver reports progress on refurbishment of Ele Bote plant

Arian Silver Corporation has reported a "positive start" to its refurbishment of the newly purchased Ele Bote processing plant in Mexico. The plant is expected to process up to 1,500 tonnes per day (tpd) once fully commissioned. "The successful commissioning of the plant and development of the mi

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15 Mar 2013 10:46

Arian Silver Corporation shares surge on plant acquisition

Arian Silver Corporation's shares rocketed Friday as the mining company announced a deal to acquire a processing plant in Mexico to increase capacity. The explorer signed a provisional agreement with Sandy Hill, a company incorporated in the British Virgin Islands, to buy a plant with a capacity to

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1 Mar 2013 14:57

Arian Silver reports annual loss as dispute halts production

Arian Silver Corp.'s shares fell Friday after the company posted an annual loss as revenues and production were hit by suspended mining operations. The Mexico-focused silver miner reported a gross loss of $0.76m for 2012, compared to a profit of $0.81m the previous year, while revenues plunged to

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19 Feb 2013 07:41

Arian Silver Corp reports milling has resumed in Zacatecas State

Toll milling has resumed at Arian Silver Corporation's project in the Zacatecas silver belt in Mexico. The AIM-listed silver exploration and development company faced a setback in July when its toll milling operations had to be suspended due to a dispute with the owners of the Contracuna Mill. The

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27 Nov 2012 13:58

Arian Silver signs plant contract

Arian Silver Corporation was a strong riser after it signed a contract for exclusive use of a newly refurbished processing plant in Mexico. The firm said the plant near the City of Zacatecas would enable it to achieve significantly improved recoveries of silver from this new toll milling operation

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16 Jul 2012 08:46

Resources round up: Arian, Baobab, Trans-Siberian Gold ...

Arian Silver, the Mexico focused silver company, said a dispute with the owner of a toll mill has prompted it to suspending trial milling operations at its San Jose mine in Zacatecas state. Arian says talks are underway to resolve the row but the stock was down 15% at 11:31. Baobab Resources, the m

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12 Mar 2012 11:22

Resources round-up: Kea, Arian, Thor Mining...

Kea Petroleum's drilling programme in the Taranaki basin of New Zealand has been delayed due to extreme weather conditions in the region. The programme to drill Mauku, which as previously advised requires challenging access and site preparations, is the worst affected area. The intention was to begi

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22 Aug 2011 12:44

Arian Silver positive despite half year loss

Arian Silver, a silver exploration and production company, reported a consolidated pre-tax loss of $9.9m, including a non-cash employee share options expense of $8.0m, for the six months ended 30 June 2011. Despite this the group saw its share price rise on a back of a stronger second quarter

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27 Apr 2011 15:50

Losses narrow at Arian

Mexico-focused miner Arian Silver, the third best performing UK stock of 2010, made a consolidated pre-tax loss in 2010 of $1.7m, an improvement on its $2.1m loss the previous year. As at the end of 2010, the company had total assets of $18.9m, including intangible assets of $1.2m, property, plant

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21 Feb 2011 11:06

Small caps round-up: Arian Silver, Central Asia, Thor

Arian Silver has uncovered the widest intersections of economic grade silver mineralisation so far at its 100%-owned San Jose Property in Zacatecas State, Mexico. The results from the first two holes in the Guanajuatillo area along the San Jose Vein comes as the group completes 24 holes of its phas

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24 Dec 2010 20:20

Resource stocks dominate the list of winners

In the unlikely event that a family member will buy you a TARDIS or some other time travelling device for Christmas, here is an overview of stocks that you should have bought at the end of 2009. Oil and gas-focused investor and adviser Parkmead Group put in a late spurt to claim the title of best p

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20 Dec 2010 10:32

Small caps round-up: African Eagle, Xcite, Dunedin Smaller Co's

African Eagle is up again as a new economic model for the Dutwa nickel project in Tanzania turned out to be a "significant" improvement over the results of the scoping study 18 months ago. Independent Perth based consultant Simulus gives a pre-tax net present value (NPV) of US$650m at a discount ra

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25 Oct 2010 11:40

Small caps round-up: Arian, eServGlobal. North River Resources

Arian Silver, a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, has raised £3.89m through the placing of 21.6m shares at 18p each. The funds will be used to finance the drilling programme at its San Jose mine. Mobile phone billing softw

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30 Jun 2010 15:27

PRESS RELEASE: Arian Silver-San Jose Production Statement

LONDON, ENGLAND--(Marketwire - June 30, 2010) - Arian Silver Corporation ("Arian Silver" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration and development Company with a focus on projects in the silver belt of Mexico, updates on the status of production on t

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28 Jun 2010 13:55

PRESS RELEASE: Arian Silver-Issue of Shares

LONDON, ENGLAND--(Marketwire - June 28, 2010) - Arian Silver Corporation (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) The Company has issued 100,000 common shares of no par value in connection with an exercise of share purchase warrants at 10 cents (Canadian) per share. Application has b

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