Home sales edged up 03 per cent in June Toronto and Montreal

The Canadian Press OTTAWA — The Canadian Real Estate Association says home sales in June edged higher compared with a year ago, as gains in Greater Toronto and Montreal offset declines in B.C.The association says sales through its Multiple Listing Service last month were up 0.3 per cent compared with June 2018.On a month-over-month basis, home sales were up 0.2 per cent in June.The increase in the number of homes sold came as the number of newly listed homes edged up 0.8 per cent in June.CREA says stable sales and a slight increase in new listings caused the national sales-to-new listings ratio to ease to 57.1 per cent in June from 57.7 per cent in May.The national average price for a home sold in June was just under $505,500, up 1.7 per cent from the same month last year. read more

Telson Resources production imminent from two gold mines in Mexico

first_imgTelson Resources is a Canadian based junior resource company advancing two gold, silver and base metal projects towards production over the coming months of 2017 and early 2018. Telson’s Tahuehueto project, located in northwest Durango State, Mexico has been its main focus over the past years. Now with Telson recently announcing that it has signed an agreement to acquire the Campo Morado mine in Guerrero, Mexico from Nyrstar Mining, the company plans to recommence mining operations at Campo Morado within four to six months while at the same time developing Tahuehueto through the mine construction phase with a timeline to be producing at this Durango project by the first quarter of 2018 or earlier.Telson has commenced underground mining operations at the newly acquired Campo Morado. Mining has commenced within areas of the El Largo Zone containing higher precious metal values along with significant base metals. It plans to create a stockpile of mill feed of up to 80,000 t to support the initial start-up of the sulphide floatation mill, planned to commence immediately after securing operating capital. The initial processing is planned to commence at some 1,000 t/d and will slowly be ramped up to the mill’s ultimate capacity of 2,500 t/d.During the past six weeks Campo Morado mine site personnel have fully serviced all mobile underground and surface mining equipment. Crews have been servicing, cleaning, repairing/rehabilitating electrical motors and moving parts and equipment where necessary to ready the mine site and mineral processing plant for commencement of commercial production planned immediately after securing operating capital.“Telson’s management team is very happy with the rapid progress we have made at Campo Morado since acquiring the project just over two months ago which has allowed us to work continually towards last week’s restart of underground mining operations,” said Antonio Berlanga, Telson’s CEO, at the end of August.“With the full support of local communities, municipal and state authorities, newly formed mining union, and our mine site personnel, we are well ahead of our originally planned schedule and hope to have a large stockpile of mill throughput available to start continuous milling and the mining operations in the near future.”On January 23, 2017, the company released its most recent NI-43-101 compliant report, a PFS on Tahuehueto completed by the fully independent mining engineering firm of Metal Mining Consultants. The study evaluated an owner-operated 790 t/d underground mine with mill feed being processed in a 550 t/d comminution circuit consisting of primary and secondary crushing, grinding in a single ball mill followed by three flotation circuits producing lead, copper and zinc concentrates which will be trucked from site for smelting and refining. The report provided robust economics on the project including a post-tax IRR of 36% and an NPV using an 8% discount of $77 million with a 21 year mine life.last_img read more