Mineros S.A. Obtains Key Permit for Underground Mine Construction at Porvenir Project, Nicaragua
MEDELLÍN, Colombia--(BUSINESS WIRE)--Mineros S.A. (TSX: MSA, MINEROS: CB) ('Mineros' or the 'Company') is pleased to announce that its wholly owned subsidiary, HEMCO Mineros Nicaragua S.A., has obtained the Forest Harvesting Permit that it requires to commence the construction phase for its underground mine at the Porvenir Project. The Porvenir Project is in the community of Vesubio, municipality of Bonanza, within the North Caribbean Coast Autonomous Region (the 'RACCN') of Nicaragua, a region with a rich mining history.
This crucial approval marks a significant milestone, enabling the start of mine site preparation and underground development work. It represents a major step towards realizing the Porvenir Project. The approval underscores Mineros' and HEMCO's unwavering commitment to rigorous environmental standards, and transparent community engagement.
This permit specifically covers mining activities only and does not constitute an operational permit. Further comprehensive environmental and regulatory permits, including those from the Ministry of the Environment and Natural Resources (MARENA) for plant operations, are required before any processing activities can commence.
'Receiving the permit for construction of the Porvenir underground mine is a major step forward,' said David Londoño, President and CEO of Mineros. 'We appreciate the RACCN's constructive review process and look forward to advancing the project in line with our responsible mining principles.'
Project Background and Community Commitment
The Bonanza region has a long history associated with mining. Mineros, through HEMCO, has a well-established presence in Nicaragua, operating the nearby Pioneer and Panama mines. The Company is committed to responsible resource development that generates sustainable socio-economic benefits. Throughout the development of the Porvenir Project, Mineros has engaged with local communities and authorities and remains dedicated to environmental stewardship and maximizing local benefits, including employment and procurement opportunities, as the project progresses through construction and towards potential future operations.
Next Steps and Future Permitting
Following receipt of this permit, Mineros will advance technical studies and detailed planning for the project's operational phase infrastructure. Key next steps include:
Progressing Towards Optimized Pre-Feasibility Plan: The Company is actively working on updating the project assumptions, including a geometallurgical update based on the 2023 test work, which is scheduled to be completed by the end of 2025.
Final Engineering Designs: Completing and submitting final, detailed engineering designs for essential operational components, such as the beneficiation (processing) plant, the Tailings Storage Facility (TSF), and the Waste Rock Storage Facility (WRSF), to the relevant authorities (including MARENA) as required for subsequent operational permit applications.
Operational Permit Applications: Continuing the application processes for all necessary operational permits.
Additional Permits Required Before Operation
Commercial operation of the Porvenir mine remains contingent upon obtaining several additional permits, including but not limited to:
Environmental Permit for Operations (covering Beneficiation Plant, Tailings Storage Facility, Waste Rock Storage Facility, and overall site operations): The application specifically for the Beneficiation Plant and its associated TSF is currently in process with MARENA. Permits covering the waste rock facility and other operational aspects will be sought subsequently.
Occupational Health and Safety License: To be secured following the completion of mine and plant construction.
Water Development Concession: Requires a completed hydrological study as part of the application.
Wastewater Discharge Permit: For managing domestic and industrial effluents according to regulatory standards.
This permit framework will ultimately cover tailings management, waste rock management, water use, air quality controls, and concentrate handling/export.
QUALIFIED PERSON
The scientific and technical information contained in this news release has been reviewed and approved by Luis Fernando Ferreira de Oliveira, MAusIMM CP (Geo), Mineral Resources and Reserves Manager for Mineros S.A., who is a qualified person within the meaning of NI 43-101.
ABOUT MINEROS S.A.
Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua, and a pipeline of development and exploration projects.
The board of directors and management of Mineros have extensive experience in mining, corporate development, finance, and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For 50 years Mineros has operated with a focus on safety and sustainability at all its operations.
Mineros' common shares are listed on the Toronto Stock Exchange under the symbol 'MSA', and on the Colombia Stock Exchange under the symbol 'MINEROS'.
Election of Directors – Electoral Quotient System
The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company's most recent annual information form, available on the Company's website at https://www.mineros.com.co/ and from SEDAR+ at www.sedarplus.com.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes statements that use forward-looking terminology such as "may", "could", "would", "will", "should", "intend", "target", "plan", "expect", "estimate", "anticipate", "believe", "continue", "potential", "view" or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements with respect to expected applications for and receipt of regulatory approvals, the expected sufficiency of such regulatory approvals to support construction activities at the Porvenir Project, the Company's plans and expectations with respect to the future development of the Porvenir Project and the timing therefor.
Forward-looking information is based upon estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production and development of the Porvenir Project; future prices of gold and other metal prices; the timing and results of exploration and drilling programs, and technical and economic studies; the development of the Porvenir Project; completion of its drilling programs; the accuracy of any Mineral Reserve and Mineral Resource estimates; the geology of the Porvenir Project being as described in the applicable technical report; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital goods markets; inflation rates; availability of labour and equipment; and positive relations with local groups. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.
For further information of these and other risk factors, please see the 'Risk Factors' section of the Company's annual information form dated March 31, 2025, available on the Company's website at https://www.mineros.com.co/ and SEDAR+ at www.sedarplus.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Abacus Global Management Announces Share Repurchase Program; Insider Buying
ORLANDO, Fla., June 06, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced that its Board of Directors has authorized a new $20 million share repurchase program, effective June 5, 2025 for over a period of up to 18 months, as well as recent Form 4 and other employee share purchases totaling over $2 million. "While it is unfortunate that Abacus Global Management has been subject to a short attack, we believe our artificially depressed share price represents an excellent buying opportunity for the Company,' said Jay Jackson, Chief Executive Officer of Abacus Global Management. 'We believe this is validated by our newly authorized share repurchase program, reflecting our Board's continued confidence in our business model and strength of our balance sheet, and also by our employees who have spent over $2 million combined of their own money in recent share purchases. Our returns and valuation are audited, and consistent with a 20-year track record of generating positive revenue. We will not allow this distraction to affect our continued growth and our day-to-day operations.' During the pendency of the stock repurchase program, the Company may repurchase shares from time to time through various methods, including in open market transactions, block trades, accelerated share repurchases, privately negotiated transactions, derivative transactions or otherwise, certain of which may be made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in compliance with applicable state and federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including our assessment of the intrinsic value of the Company's common stock, the market price of the Company's common stock, general market and economic conditions, available liquidity, compliance with the Company's debt and other agreements, applicable legal requirements, the nature of other investment opportunities available to the Company, and other considerations. The Company is not obligated to purchase any shares under the repurchase program, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand and expected free cash flow to be generated in the future. Abacus is committed to pursuing all available legal remedies against the individuals and entities responsible for orchestrating and disseminating the false and misleading short attack. Forward-Looking Statements All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus's financial and operational outlook; Abacus's operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus's ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'estimate,' 'expect,' 'intend,' 'anticipate,' 'goals,' 'prospects,' 'will,' 'would,' 'will continue,' 'will likely result,' and similar expressions (including the negative versions of such words or expressions). While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus's loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus's insurance policies; the geographic concentration of Abacus's business; the cyclical nature of Abacus's industry; the impact of regulation on Abacus's business; the effects of competition on Abacus's business; the failure of Abacus's relationships with independent agencies; the failure to meet Abacus's investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus's control environment, including the identification of control deficiencies. These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations. About Abacus Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. Contacts: Investor Relations Robert F. Phillips – SVP Investor Relations and Corporate Affairsrob@ 290-1198 David Jackson – Director of IR/Capital Marketsdavid@ 299-0716 Abacus Global Management Public Relations press@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Venus Concept Announces Up To $3.45 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
$1.15 million upfront with up to an additional $2.3 million of potential aggregate gross proceeds upon the exercise in full of unregistered short-term warrants TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. ('Venus Concept' or the 'Company') (NASDAQ: VERO), a global medical aesthetic technology leader, today announced that it has entered into definitive agreements for the purchase and sale of 434,720 shares of common stock at a purchase price of $2.65 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to 869,440 shares of common stock at an exercise price of $2.65 per share that will be immediately exercisable upon issuance and will expire eighteen months following the effective date of the registration statement covering the resale of the shares of common stock issuable upon exercise of the unregistered short-term warrants. The closing of the offering is expected to occur on or about June 9, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $1.15 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the unregistered short-term warrants, if fully-exercised on a cash basis, will be approximately $2.3 million. No assurance can be given that any of such unregistered short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for general corporate purposes. The common stock (but not the unregistered short-term warrants and the shares of common stock underlying the unregistered short-term warrants) described above are being offered by the Company pursuant to a 'shelf' registration statement on Form S-3 (File No. 333-282811) that was declared effective by the Securities and Exchange Commission (the 'SEC') on November 1, 2024. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@ The unregistered short-term warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the 'Securities Act'), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered short-term warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered short-term warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. About Venus Concept Venus Concept is an innovative global medical aesthetic technology leader with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies and reach in over 60 countries and 9 direct markets. Venus Concept's product portfolio consists of aesthetic device platforms, including Venus Versa, Venus Versa Pro, Venus Legacy, Venus Velocity, Venus Viva, Venus Glow, Venus Bliss, Venus Bliss MAX, Venus Epileve, Venus Viva MD and Venus Concept's hair restoration systems include NeoGraft® and the ARTAS iX® Robotic Hair Restoration system. Venus Concept has been backed by leading healthcare industry growth equity investors, including EW Healthcare Partners (formerly Essex Woodlands), HealthQuest Capital, Longitude Capital Management and Aperture Venture Partners. Forward-Looking Statements This communication contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about the Company's financial condition, and other statements containing the words 'expect,' 'intend,' 'may,' 'will,' and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about the Company's business and the industry in which it operates and management's beliefs and assumptions and are not guarantees of future performance or developments and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond the Company's control. Factors that could materially affect the Company's business operations and financial performance and condition include, but are not limited to, the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering, the exercise of the unregistered short-term warrants prior to their expiration, those risks and uncertainties described under Part I Item 1A—'Risk Factors' in the Company's most recent Annual Report on Form 10-K, Part II Item 1A—'Risk Factors' in the Company's most recent Form 10-Q and in other documents the Company may file with the SEC. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are based on information available to the Company as of the date hereof. Unless required by law, the Company does not intend to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise. Investor Relations Contact: ICR Westwicke on behalf of Venus Concept: Mike Piccinino, CFA VenusConceptIR@
Yahoo
23 minutes ago
- Yahoo
BW Offshore: Exercise of employee share options
Exercise of employee share options BW Offshore has completed an exercise window under its Long-Term Incentive Program (LTIP), during which a total of 400,852 vested options were exercised. The company's obligation under the program was settled using existing treasury shares. A third-party conducted sale process has now concluded, with the shares sold at a price of NOK 32.73 each. No primary insiders of the Company have exercised any options in this exercise window. BW Offshore holds 3,740,585 treasury shares following the option exercise. For further information, please contact:Ståle Andreassen, CFO, +47 91 71 86 55 IR@ or About BW Offshore:BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
