Financial News

Denarius Announces First Quarter 2021 Results

Products You May Like

TORONTO, Might 31, 2021 (GLOBE NEWSWIRE) — Denarius Silver Corp. (“Denarius” or “the Firm”) (TSXV: DSLV) introduced in the present day that it has filed its unaudited interim condensed consolidated monetary statements and accompanying administration’s dialogue and evaluation (MD&A) for the three months ended March 31, 2021. These paperwork will be discovered on its web site at and by reviewing its profile on SEDAR at All monetary figures contained herein are expressed in U.S. {dollars} except in any other case famous.

Serafino Iacono, Interim Chief Government Officer of Denarius, commented, “We’re excited in regards to the prospects for worth creation in Denarius with our concentrate on advancing mining initiatives in high-grade districts, together with the lately acquired Lomero polymetallic challenge in Spain and the Guia Antigua and Zancudo silver-gold initiatives in Colombia. We’ve got assembled a portfolio of belongings situated in shut proximity to productive operations with strong infrastructure in place to assist rapidly advance these initiatives. Our effort within the first quarter of 2021 centered on the formation of Denarius by way of the RTO Transaction and elevating the capital required for the exploration packages we’re imminently launching on the Lomero and Guia Antigua Tasks, full particulars of which we will probably be saying shortly. Our early stage work will embrace an replace of the historic inferred useful resource estimate for the Lomero Mission. With forecasted progress within the demand for copper, the Lomero Mission positions the Firm nicely to take part within the evolving inexperienced metals market.”

First Quarter 2021 Highlights

  • The Firm, 1255269 B.C. Ltd. (the “Guia Antigua Vendor”) and Gran Colombia Gold Titiribi Corp., a wholly-owned subsidiary of Gran Colombia Gold Corp. (TSX: GCM), efficiently accomplished a reverse take over transaction (“RTO Transaction”) on February 19, 2021, to create a brand new junior exploration firm targeted on advancing two silver-gold exploration initiatives, the Guia Antigua and Zancudo Tasks, each of that are situated in high-grade mining districts in Colombia. Concurrently with the closing of the RTO Transaction, the Guia Antigua Vendor accomplished a personal placement financing and the gross proceeds of CA$8.4 million (roughly $6.7 million) have been launched from escrow to the Firm. These funds will probably be utilized by the Firm to proceed with the exploration program on the Guia Antigua Mission and for common company functions.
  • On April 29, 2021, the Firm added its third challenge (the “Lomero Mission”) with the acquisition of a 100% curiosity within the Investigation Allow Nº 14,977, additionally recognized as Rubia, protecting the areas occupied by the previous Lomero-Poyatos Concessions and the mine inside them in southern Spain. The Lomero Mission is a polymetallic deposit situated on the Spanish facet of the prolific copper wealthy Iberian Pyrite belt with a historic estimate within the inferred class of 20.93 Mt of three.08 g/t gold, 62.38 g/t silver, 0.90% copper, 0.85% lead and three.05% zinc that is still open at depth and alongside strike. The historic estimate is reported inside a >25% sulphur mineral envelope at a cut-off grade of 1.0 g/t Au for an underground mining state of affairs. The historic useful resource estimate was reported in a NI 43-101 technical report by Behre Dolbear with efficient date of 2011. The parameters used to make the historic useful resource estimate are described in a NI 43-101 technical report by Behre Dolbear with efficient date of April 5, 2021 that was revealed on SEDAR and the Firm’s web site on Might 3, 2021. A certified particular person has not carried out enough work to categorise the historic estimate as present mineral assets or mineral reserves, and the Firm is just not treating the historic estimate as present mineral assets or mineral reserves.
  • In March 2021, in preparation for the Lomero Mission acquisition and the deliberate exploration program to be undertaken by the Firm over the following roughly two years on the Lomero Mission, the Firm accomplished a non-brokered non-public placement financing of 75,000,000 subscription receipts at a value of CA$0.45 per subscription receipt for mixture gross money proceeds of roughly CA$33.8 million (equal to roughly $26.9 million). The Subscription Receipts have been transformed into frequent shares and warrants on April 29, 2021.
  • Denarius commenced buying and selling on the TSX Enterprise Trade (“TSXV”) underneath the image “DSLV” on March 8, 2021 and presently has 204.9 million frequent shares issued and excellent. The Firm has a robust shareholder base with roughly 27% owned by Gran Colombia Gold and 19% owned by King Road Capital.
  • The Firm reported a internet loss for the primary quarter of 2021 of $14.4 million, or $0.35 per share, in contrast with internet lack of $Nil within the first quarter of 2020. The most important merchandise affecting the web loss within the first quarter of 2021 was the $12.9 million one-time cost associated to the RTO Transaction.
  • The Firm had money and money equivalents, together with money in escrow which has since been launched, on the finish of March 2021 totaling $32.4 million. After finishing the Lomero Mission acquisition and different expenditures, the Firm presently has a money place of roughly $22 million to fund its exploration packages and company expenditures.

About Denarius

Denarius is a Canadian-listed public firm engaged within the acquisition, exploration, improvement and eventual operation of mining initiatives in high-grade districts, with its principal concentrate on the Lomero Mission in Spain and the Guia Antigua Mission in Colombia. The Firm additionally owns the Zancudo Mission in Colombia which is presently being explored by IAMGOLD Corp. pursuant to an choice settlement for the exploration and potential buy of an curiosity within the challenge.

Further info on Denarius will be discovered on its web site at and by reviewing its profile on SEDAR at

Certified Individuals Evaluation

The scientific and technical info on this information launch has been reviewed and authorized by Stewart Redwood, BSc (Hons), PhD, FIMMM, FGS, a “Certified Particular person” as outlined underneath Nationwide Instrument 43-101.

Cautionary Assertion on Ahead-Wanting Info

This information launch comprises “forward-looking info”, which can embrace, however is just not restricted to, statements with respect to anticipated enterprise plans or methods. Typically, however not all the time, forward-looking statements will be recognized by means of phrases reminiscent of “plans”, “expects”, “is predicted”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with damaging variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “might”, “may”, “would”, “would possibly” or “will” be taken, happen or be achieved. Ahead-looking statements contain identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of Denarius to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Components that might trigger precise outcomes to vary materially from these anticipated in these forward-looking statements are described underneath the caption “Threat Components” within the Firm’s Submitting Assertion dated as of February 18, 2021 which is obtainable for view on SEDAR at Ahead-looking statements contained herein are made as of the date of this press launch and Denarius disclaims, apart from as required by legislation, any obligation to replace any forward-looking statements whether or not because of new info, outcomes, future occasions, circumstances, or if administration’s estimates or opinions ought to change, or in any other case. There will be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, the reader is cautioned to not place undue reliance on forward-looking statements.

For Additional Info, Contact:

Mike Davies
Chief Monetary Officer
(416) 360-4653

Primary Logo

Products You May Like