Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events

Subsequent Events

23. Subsequent Events

At the Market Offering Agreement

Subsequent to March 31, 2023, the Company sold an aggregate of 4,636,368 shares of common stock under the ATM Program at an average price of $0.24 per share of common stock for net proceeds, after commissions and fees, of approximately $1.1 million.

Concentrate Sales

Subsequent to March 31, 2023, the Company sold gold-rich pyrite concentrates from the Velardeña property which was produced from ore that had been mined during 2022 and including concentrates that had been produced from test mining in 2021 as a part of the test mining completed while the Company was contemplating the re-opening of the Velardeña Properties. Three shipments have been completed which generated approximately $1.1 million of cash receipts for 90% of the value of metal in the concentrate. See the MD&A section for Velardeña Operations.