Pan American Silver Corp.
History
Lake Shore Gold was formed in 2002 as an explorer for gold and base metals in the Canadian Shield. Through business arrangements with Aurora Platinum Corp., the Company was able to secure both the technical expertise and a portfolio of prospective mineral properties from the moment of its inception.
The Company focused its search initially in the principal gold camps of the Abitibi Belt and in western greenstone belts in the northwest of Ontario and western Québec. Through its early acquisition of the Timmins West Gold Property, the Company quickly established itself as an aggressive junior exploration company holding an interest in a defined high-grade resource.
2003
In May, the Company enters into an option agreement with Holmer Gold Mine Limited to acquire an interest in the Timmins Gold Project (current Timmins Deposit).
2004
In September, the Company announced an updated indicated resource of 1,369,000 tonnes at a cut grade of 10.96 grams per tonne for 482,000 ounces. In December, Lake Shore Gold acquired all outstanding shares of Holmer, giving it 100% ownership of Timmins Gold Project.
2005
In March, the Company purchases interest in Vogel gold property near Bell Creek. In December, the Company signed 20-year lease agreement to acquire the Schumacher estate property.
2006
In December, the Company announced an updated indicated resource at the Timmins Gold Project of 3,268,000 tonnes at a cut grade of 8.62 grams per tonne for 905,000 ounces and an inferred resource of 968,000 tonnes at a cut grade of 5.54 grams per tonne for 174,700 ounces.
2007
In January, Lake Shore Gold signed agreement to acquire Bell Creek Mine and Mill. The transaction was completed in December 2007. In August, a prefeasibility study for the Timmins West project was released, including an initial probable reserve of 3,386,000 tonnes at a cut grade of 7.59 grams per tonne for 826,000 ounces. In December, Lake Shore Gold completed the requirements to vest a 60% interest in Thunder Creek from West Timmins Mining Inc.
2008
In February 2008, Lake Shore Gold entered into a strategic alliance with Hochschild Mining plc through which Hochschild obtained a 19.99% interest in the Company (28.2 million common shares at $2.30 per share).
In June, Hochschild acquired an additional 32.9 million common shares at a price of $2.40 per share for total consideration of $79.0 million (a further 11.8 million common shares were acquired by Hochschild from FNX Mining Company later that month).
2009
In November, Lake Shore Gold acquired the outstanding shares of West Timmins Mining Inc., thereby acquiring 100% of the Thunder Creek property as well as other land positions in Timmins and in Mexico. In December, 28 km2 surrounding Bell Creek acquired from Goldcorp.
2010
In November, Hochschild sold 109,000,000 common shares of the Compay (remaining shares in Lake Shore Gold sold in February 2011).
In December, an initial inferred resource at Bell Creek Mine was announced totaling 8,427,000 tonnes at 4.40 grams per tonne for 1,192,900 ounces with measured and indicated resources of 1,790,000 tonnes at 4.36 grams per tonne for 251,200 ounces.
2011
In January, commercial production was declared at the Timmins West Mine (Timmins Deposit).
In August, the Company acquired from Barrick Gold Corporation the Fenn-Gib open-pit project for 14.9 million common shares of LSG.
On November 16, 2011, the Company released a large, high-grade initial resource for the Thunder Creek project, including 2,877,000 tonnes at 5.64 grams per tonne for 521,600 ounces in the indicated category and 2,693,000 tonnes at 5.89 grams per tonne for 510,000 ounces in the inferred category.
In November, the Company announced an initial resource for Fenn-Gib including 40,8 million tonnes grading 0.99 grams per tonne for 1.30 million ounces in the indicated category and 24.5 million tonnes at 0.95 grams per tonne for 0.75 million ounces in the inferred category.
2012
In January, Timmins Deposit and Thunder Creek Deposit were combined into a single operation called the Timmins West Mine. Commercial production was declared at Timmins West Mine and Bell Creek Mine effective January 1, 2012.
In February, the Company released an updated resource estimate for Timmins West Mine totaling 1,122,500 ounces of gold (5,826,000 tonnes grading 5.99 grams per tonne) in the indicated category and 791,500 ounces of gold (4,272,000 tonnes grading 5.76 grams per tonne) in the inferred category.
In February, the Company announced that it had nearly tripled the ounces in resource and doubled the grade at the Gold River Trend, with the new resource totaling 117,400 ounces of gold (690,000 tonnes grading 5.29 grams per tonne) in the indicated category and 1,027,800 ounces of gold (5,273,000 tonnes grading 6.06 grams per tonne) in the inferred category.
In February, a Preliminary Economic Assessment (“PEA”) was released for Timmins West Mine, with key estimates including 10 years of production with 1.4 million ounces produced over that period; average cash operating costs of US$625 per ounce, and favourable project economics based on a number of pricing and exchange rate assumptions.
In March, the Company announced more than a 150% increase in measured and indicated resources at the Bell Creek Mine, to 646,400 ounces (4,249,000 tonnes grading 4.73 grams per tonne) with inferred resources of 953,800 ounces (6,088,500 tonnes grading 4.87 grams per tonne).
In April, the Company announced a new reserve for the Timmins West Mine totaling 823,800 ounces (4,922,000 tonnes grading 5.21 grams per tonne).
In September, the Company issued convertible debentures for an aggregate principal amount of $103.5 million.
2013
In March, the Company announced updated reserves and resources. Total reserves at Timmins West Mine were 4,811,000 tonnes at an average grade of 5.2 grams per tonne for 798,000 ounces. An initial reserve was also announced for Bell Creek Mine, including 960,000 tonnes at an average grade of 4.2 gram per tonne for 129,000 ounces.
Updated resources (inclusive of reserves) included measured and indicated resources at Timmins West Mine of 5,978,000 tonnes at an average grade of 5.5 grams per tonne for 1,061,000 ounces and at Bell Creek Mine of 4,685,000 tonnes at 4.7 gram per tonne for 710,000 ounces at Bell Creek Mine. Inferred resources included 3,549,000 tonnes at 5.4 grams per tonne at Timmins West Mine and 6,080,000 tonnes at 4.6 grams per tonne for 904,000 ounces at Bell Creek Mine. Resources at all other projects and properties remained unchanged from the 2012 estimates.
During the third quarter of 2013, the Company completed 50% expansion of its milling facility, from 2,000 tonnes per day to 3,000 tonnes per day. The expansion was completed in two phases, with throughput increasing to 2,500 tonnes per day at the end of 2012 and then increasing further to 3,000 tonnes per day in September 2013. Following completion of the expansion, the Company recorded monthly results in October 2013, producing 17,500 ounces (110,100 tonnes at an average grade of 5.2 grams per tonne).
Source: http://www.lsgold.com/Our-Company/History/default.aspx
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Senior Cost Accountant
In this role, you will work with the operations team to consolidate the annual budget, accounting process and preparing short term forecasts.
IT System Administrator
The role of the IT System Administrator will be responsible for assisting staff with technical support of desktop computers, applications, networks, and related technologies.
Chief Mine Engineer
In this position, you will be responsible for supervising all mine engineering staff and managing all mine functions at the Timmins West Mine to maximize the operation’s performance in a safe manner.
Geotechnical Engineer
The role of the Geotechnical Engineer will be to work closely with the engineering and operational teams on site to provide and implement sound engineering and rock mechanics principles that will ensure stability of stopes and excavations with minimal dilution and ground failure.