AFRICAN GOLD GROUP, INC. ANNOUNCES CLOSING OF CDN$6.0 MILLION BOUGHT
DEAL PRIVATE PLACEMENT FINANCING
TORONTO, CANADA, December 16, 2009 – African Gold Group, Inc. (“AGG” or the “Company”) announced today that it has closed the previously announced bought deal private placement offering (the"Offering"). AGG issued an aggregate of 10,000,000 units of the Company (the “Units”) at a price of CDN$0.60 per Unit, for aggregate gross proceeds of CDN$6,000,000. The aggregate number of Units issued included 1,600,000 Units issued pursuant to the full exercise of the Underwriter’s option granted to the Underwriter under the Offering. Each Unit is comprised of one common share and one-half of one
common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrantentitles the holder to purchase one additional common share of the Company at a price of CDN$0.90 per common share for a period of 18 months (the “Expiry Date”) following the closing of the Offering.
Macquarie Capital Markets Canada Ltd. (“Macquarie” or the “Underwriter”) acted as sole Underwriter in respect of the Offering. The Underwriter received a cash commission of 6.0% of the gross proceeds raised in the Offering and 800,000 compensation options (each a “Compensation Option”). Each Compensation Option entitles the Underwriter to purchase one Unit of the Company at a price of CDN$0.60 per Unit until the Expiry Date.
The net proceeds of the Offering are intended to be used to fund the continuing development of the Company’s Kobada, Mali Project, the resumption of exploration at the Company’s 456 sq km
Asankrangwa, Ghana holdings, of which the north west quadrant (the Asuowunu concession) is on strike and contiguous with the recently discovered 3.5 million oz Essase gold deposit controlled by Keegan Resources, and for general working capital and corporate purposes.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States.
All securities issued pursuant to the Offering are subject to a four month hold period commencing on the closing date of the Offering.
African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa.
To date, the Company controls a total of twelve gold concessions that are consolidated in five distinct standalone exploration projects, of which three projects are located in Ghana and the remaining two are located in Mali, West Africa.
Additional Information is available on the Company's website at: www.africangoldgroup.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THEUNITED STATES
___________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Wednesday, December 16, 2009
SILVER SPRUCE RESOURCES INC (TSXV: SSE)Private placement of up to $260,000 (non-flow-through)
SILVER SPRUCE RESOURCES INC (TSXV: SSE)Private placement of up to $260,000 (non-flow-through)
Bridgewater, Nova Scotia – December 16, 2009 - Silver Spruce Resources Inc. (TSXV: SSE)
Silver Spruce Resources Inc. (“Silver Spruce”) is pleased to announce it is arranging a nonbrokered private placement to raise gross proceeds of up to $260,000 (the “Offering”) on a nonflowthrough basis.
The Offering shall consist of the issuance of up to 4,000,000 non-flow-through units (“NFT
Units”) of Silver Spruce. Each NFT Unit shall be offered at a price of $0.065 per NFT Unit and
shall consist of one non-flow-through common share and one common share purchase warrant,
with each whole warrant exercisable at a price of $0.10 per non-flow-through common share for a
period of 24 months after the closing of the Offering. Closing is expected next week or before
December 31, 2009. No finder's or other fees shall be payable.
The gross proceeds raised from the issuance of the FT Units shall be used for general exploration
expenditures on Silver Spruce’s Mexico project and for general corporate purposes.
All securities issued in connection with the Offering shall be subject to a four-month hold period
in accordance with applicable securities requirements. The Offering is subject to fulfillment of the
requirements of the TSX Venture Exchange. This offering is in addition to the $700,000 flowthrough
offering announced on December 14, 2009.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company originally focused on uranium in the Central Mineral
Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than 6,000 claims totaling
more than 1,500 square kilometers in Labrador, Silver Spruce is the second largest landholder in
one of the world’s premier emerging uranium districts. The company also has gold/silver projects
in Mexico and the island of Newfoundland, and base metal projects in central and western
Newfoundland making Silver Spruce a leading explorer in Canada and Mexico.
For Further Information Contact:
SILVER SPRUCE HEAD OFFICE INVESTOR RELATIONS
Gordon Barnhill, CFO & Director Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 902.527.5700 Phone: 604.684.4743 ext. 243
Fax: 902.527.5711 Toll Free: 1.866.684.4743 ext. 243
E-mail: gbarnhill@silverspruceresources.com E-mail: hugh@ascentacapital.com
Web: www.silverspruceresources.com Web: www.ascentacapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Corporation seeks Safe Harbour.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
VIA U.S. NEWSWIRE
______________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Bridgewater, Nova Scotia – December 16, 2009 - Silver Spruce Resources Inc. (TSXV: SSE)
Silver Spruce Resources Inc. (“Silver Spruce”) is pleased to announce it is arranging a nonbrokered private placement to raise gross proceeds of up to $260,000 (the “Offering”) on a nonflowthrough basis.
The Offering shall consist of the issuance of up to 4,000,000 non-flow-through units (“NFT
Units”) of Silver Spruce. Each NFT Unit shall be offered at a price of $0.065 per NFT Unit and
shall consist of one non-flow-through common share and one common share purchase warrant,
with each whole warrant exercisable at a price of $0.10 per non-flow-through common share for a
period of 24 months after the closing of the Offering. Closing is expected next week or before
December 31, 2009. No finder's or other fees shall be payable.
The gross proceeds raised from the issuance of the FT Units shall be used for general exploration
expenditures on Silver Spruce’s Mexico project and for general corporate purposes.
All securities issued in connection with the Offering shall be subject to a four-month hold period
in accordance with applicable securities requirements. The Offering is subject to fulfillment of the
requirements of the TSX Venture Exchange. This offering is in addition to the $700,000 flowthrough
offering announced on December 14, 2009.
ABOUT SILVER SPRUCE
Silver Spruce is a junior exploration company originally focused on uranium in the Central Mineral
Belt (CMB) and elsewhere in Labrador, Canada. With interests in more than 6,000 claims totaling
more than 1,500 square kilometers in Labrador, Silver Spruce is the second largest landholder in
one of the world’s premier emerging uranium districts. The company also has gold/silver projects
in Mexico and the island of Newfoundland, and base metal projects in central and western
Newfoundland making Silver Spruce a leading explorer in Canada and Mexico.
For Further Information Contact:
SILVER SPRUCE HEAD OFFICE INVESTOR RELATIONS
Gordon Barnhill, CFO & Director Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 902.527.5700 Phone: 604.684.4743 ext. 243
Fax: 902.527.5711 Toll Free: 1.866.684.4743 ext. 243
E-mail: gbarnhill@silverspruceresources.com E-mail: hugh@ascentacapital.com
Web: www.silverspruceresources.com Web: www.ascentacapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Corporation seeks Safe Harbour.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
VIA U.S. NEWSWIRE
______________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO )(ASX:EAU ) Closes Acquisition of Sino Gold
Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO )(ASX:EAU ) Closes Acquisition of Sino Gold
VANCOUVER, BRITISH COLUMBIA-- - Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO )(ASX:EAU ) ("Eldorado" or "Company") is pleased to announce the closing of its acquisition of all of the outstanding securities (the "Sino Gold Securities") of Sino Gold Mining Limited ("Sino Gold"), not held by Eldorado, pursuant to a Scheme Implementation Deed dated August 26, 2009, as amended October 27, 2009 (the "Scheme Deed"), with Sino Gold, by way of schemes of arrangement (the "Schemes") under the laws of Australia (the "Transaction"). Pursuant to the Schemes, Eldorado, through its wholly owned subsidiary, Eldorado Pacific Pty Limited, acquired all of the outstanding ordinary shares of Sino Gold (the "Sino Gold Shares") not held by Eldorado that, together with the Sino Gold Shares already held by Eldorado, constitute 100% of the issued and outstanding Sino Gold Securities following the implementation of the Transaction. All outstanding options ("Sino Gold Options") to purchase Sino Gold Shares were cancelled pursuant to the Schemes in connection with the implementation of the Transaction. The Sino Gold Shares have been suspended from trading on the Australian Securities Exchange ("ASX") and the Hong Kong Stock Exchange, effective December 4, 2009, and the Sino Gold shares will be delisted from those exchanges. An application for Sino Gold to cease being a reporting issuer will also be made to the relevant Canadian securities authorities.
Eldorado has issued an aggregate of 131,772,777 common shares ("Eldorado Shares") in the capital of Eldorado, either directly or indirectly as CHESS Depository Interests ("CDIs"), through CHESS Depository Nominees Pty Limited ("CHESS"), to former shareholders and optionholders of Sino Gold pursuant to the Scheme Deed in connection with the implementation of the Transaction. Consideration for the Sino Gold Shares acquired was Eldorado Shares, with the number issued based on a share exchange ratio of 0.55 Eldorado Share for each Sino Gold Share. Consideration for cancellation of Sino Gold Options was Eldorado Shares, with the number issued calculated with reference to the share exchange ratio, the exercise price for such Sino Gold Options and whether the Sino Gold Options were "in the money" or not.
Eldorado previously acquired 57,968,029 Sino Gold Shares on July 27, 2009, pursuant to a Share Purchase and Sale Agreement (the "Share Purchase Agreement") dated June 3, 2009, as amended on July 10, 2009, with Gold Fields Australasia (BVI) Limited ("GFA"). In connection with the implementation of the Transaction, Eldorado has issued 4,057,762 Eldorado Shares to GFA pursuant to the purchase price adjustment provisions of the Share Purchase Agreement.
A total of 135,830,539 Eldorado Shares (including those issued to GFA) were issued in connection with the implementation of the Transaction and following completion of the implementation as of December 15, 2009, there are 537,101,235 Eldorado Shares issued and outstanding. The Eldorado Shares issued in connection with the implementation of the Transaction will begin trading on the Toronto Stock Exchange ("TSX") and the New York Stock Exchange on December 15, 2009.
In connection with the implementation of the Transaction, CDIs, each representing an interest in one common share of Eldorado, began trading on a deferred settlement basis on the ASX on December 7, 2009, under the symbol EAU. The CDIs will begin trading on the ASX on a normal settlement basis on December 16, 2009.
Under the terms of the Scheme Deed, subject to compliance with applicable Canadian and US securities law and regulatory requirements, a share sale facility (the "Sale Facility") has been made available to ineligible foreign securityholders of Sino Gold, who may not receive the Eldorado Shares or CDIs pursuant to the laws of the jurisdictions in which they reside, as well as to those securityholders of Sino Gold who were entitled to receive 55,000 or less Eldorado Shares under the Transaction and who validly elected to participate in the Sale Facility. Pursuant to the implementation of the Transaction, 781,845 Eldorado Shares were issued to the sales agent, Macquarie Capital Markets Canada Ltd. ("Sale Agent"), as nominee in trust for the Sale Facility participants. These Eldorado Shares will be sold by the Sale Agent through the Sale Facility within 15 trading days of December 15, 2009, following which the Sale Facility participants will receive their pro rata share of the proceeds of such sale, less applicable deductions for taxes and currency conversion costs.
Pursuant to the implementation of the Transaction, Eldorado also announces the appointment of two additional directors to the Eldorado board, James Askew and Peter Cassidy. Mr. Askew is the former non-executive chairman of the board of directors of Sino Gold and is a mining engineer with broad international experience as CEO for a number of Australian and international publicly listed mining, mining finance and other mining-related companies over twenty-one years, fifteen of which have been in the gold sector. Mr. Cassidy is a senior mining executive with over thirty-seven years exposure to the minerals industry, including public company experience, in Australia, Papua New Guinea, Indonesia and the USA, including more than fifteen years in the gold industry. Mr. Cassidy is a former non-executive director of Sino Gold.
Eldorado also announces the appointment of Robert R. Gilmore as the Chair of the Eldorado Board of Directors. Mr. Gilmore has been a Director of Eldorado since April 2003. He replaces Hugh C. Morris, who is stepping down from his position as Chair, effective today. The Company thanks Mr. Morris for his many contributions to the Company throughout his tenure as a Chair of the Eldorado Board. Going forward, Mr. Morris will continue to serve as a non-executive director of the Company.
The Transaction was previously approved by the holders of Sino Gold Securities at three separate meetings which were held in Sydney, Australia on December 2, 2009 and by the Federal Court of Australia in a hearing on December 4, 2009, with the final court order being filed with the Australian Securities and Investments Commission on December 4, 2009.
For further information on the Transaction (including the Sale Facility) see the Scheme Deed and the Schemes, which are available on SEDAR under Eldorado's name.
Following completion of the Transaction, Eldorado's market capitalization is approximately C$7.7 billion (based on a C$14.42 closing price of the Eldorado Shares on the TSX on December 14, 2009). Going forward, the combined entity is expected to be gold-focused and will have a significant presence in China and Turkey, including several mines in production, along with exposure in Greece and Brazil. Eldorado will continue to be headquartered in Vancouver, British Columbia.
With the acquisition of Sino Gold, Eldorado has acquired Sino Gold's interests in the Jinfeng Gold Mine in southern China's Guizhou Province (the second largest gold mine in China), the White Mountain Gold Mine in northeast China's Jilin Province and the Eastern Dragon Gold Project in northern China's Heilongjiang Province.
For further information of our properties, including our resources and reserves, see our website at http://www.eldoradogold.com/.
Eldorado is a gold producing, exploration and development company actively growing businesses in Brazil, China, Greece, and Turkey and surrounding regions. We are one of the lowest cost pure gold producers. With our international expertise in mining, finance and project development, together with highly skilled and dedicated staff, we believe that Eldorado is well positioned to grow in value as we create and pursue new opportunities.
ON BEHALF OF ELDORADO GOLD CORPORATION
Paul N. Wright, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Such forward-looking statements or information include, but are not limited to statements or information with respect to the Transaction, production targets and the impact of the implementation of the Transaction on Eldorado, its operations, financial position, reserves and resources and gold production.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including assumptions about the implementation of the Transaction and its impact on our operations, financial position, reserves and resources and gold production, price of gold, anticipated costs and expenditures and the ability to achieve our goals. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: the risk that the integration of the Eldorado and Sino Gold businesses taking longer than expected and the anticipated efficiencies and benefits of the integration may be less than estimated and the costs of acquisition higher than anticipated; risks of not meeting production and cost targets; gold price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment and operating in foreign countries; currency fluctuations; speculative nature of gold exploration; global economic climate; dilution; share price volatility; competition; ability to complete acquisitions; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Information Form & Form 40-F dated March 31, 2009.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the U.S.
Cautionary Note Regarding Sino Gold Information
Information on Sino Gold was derived from Sino Gold's public disclosure prior to the implementation of the Transaction. For further information on Sino Gold, readers are directed to Scheme Booklet prepared by Sino Gold in connection with the Transaction available at http://www.sedar.com/ under Sino Gold's name.
Eldorado Gold Corporation's common shares trade on the Toronto Stock Exchange (TSX:ELD - News) and the New York Stock Exchange (NYSE:EGO - News). Eldorado CDIs trade on the Australian Securities Exchange (ASX:EAU - News).
Request for information packages: info@eldoradogold.com
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
VANCOUVER, BRITISH COLUMBIA-- - Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO )(ASX:EAU ) ("Eldorado" or "Company") is pleased to announce the closing of its acquisition of all of the outstanding securities (the "Sino Gold Securities") of Sino Gold Mining Limited ("Sino Gold"), not held by Eldorado, pursuant to a Scheme Implementation Deed dated August 26, 2009, as amended October 27, 2009 (the "Scheme Deed"), with Sino Gold, by way of schemes of arrangement (the "Schemes") under the laws of Australia (the "Transaction"). Pursuant to the Schemes, Eldorado, through its wholly owned subsidiary, Eldorado Pacific Pty Limited, acquired all of the outstanding ordinary shares of Sino Gold (the "Sino Gold Shares") not held by Eldorado that, together with the Sino Gold Shares already held by Eldorado, constitute 100% of the issued and outstanding Sino Gold Securities following the implementation of the Transaction. All outstanding options ("Sino Gold Options") to purchase Sino Gold Shares were cancelled pursuant to the Schemes in connection with the implementation of the Transaction. The Sino Gold Shares have been suspended from trading on the Australian Securities Exchange ("ASX") and the Hong Kong Stock Exchange, effective December 4, 2009, and the Sino Gold shares will be delisted from those exchanges. An application for Sino Gold to cease being a reporting issuer will also be made to the relevant Canadian securities authorities.
Eldorado has issued an aggregate of 131,772,777 common shares ("Eldorado Shares") in the capital of Eldorado, either directly or indirectly as CHESS Depository Interests ("CDIs"), through CHESS Depository Nominees Pty Limited ("CHESS"), to former shareholders and optionholders of Sino Gold pursuant to the Scheme Deed in connection with the implementation of the Transaction. Consideration for the Sino Gold Shares acquired was Eldorado Shares, with the number issued based on a share exchange ratio of 0.55 Eldorado Share for each Sino Gold Share. Consideration for cancellation of Sino Gold Options was Eldorado Shares, with the number issued calculated with reference to the share exchange ratio, the exercise price for such Sino Gold Options and whether the Sino Gold Options were "in the money" or not.
Eldorado previously acquired 57,968,029 Sino Gold Shares on July 27, 2009, pursuant to a Share Purchase and Sale Agreement (the "Share Purchase Agreement") dated June 3, 2009, as amended on July 10, 2009, with Gold Fields Australasia (BVI) Limited ("GFA"). In connection with the implementation of the Transaction, Eldorado has issued 4,057,762 Eldorado Shares to GFA pursuant to the purchase price adjustment provisions of the Share Purchase Agreement.
A total of 135,830,539 Eldorado Shares (including those issued to GFA) were issued in connection with the implementation of the Transaction and following completion of the implementation as of December 15, 2009, there are 537,101,235 Eldorado Shares issued and outstanding. The Eldorado Shares issued in connection with the implementation of the Transaction will begin trading on the Toronto Stock Exchange ("TSX") and the New York Stock Exchange on December 15, 2009.
In connection with the implementation of the Transaction, CDIs, each representing an interest in one common share of Eldorado, began trading on a deferred settlement basis on the ASX on December 7, 2009, under the symbol EAU. The CDIs will begin trading on the ASX on a normal settlement basis on December 16, 2009.
Under the terms of the Scheme Deed, subject to compliance with applicable Canadian and US securities law and regulatory requirements, a share sale facility (the "Sale Facility") has been made available to ineligible foreign securityholders of Sino Gold, who may not receive the Eldorado Shares or CDIs pursuant to the laws of the jurisdictions in which they reside, as well as to those securityholders of Sino Gold who were entitled to receive 55,000 or less Eldorado Shares under the Transaction and who validly elected to participate in the Sale Facility. Pursuant to the implementation of the Transaction, 781,845 Eldorado Shares were issued to the sales agent, Macquarie Capital Markets Canada Ltd. ("Sale Agent"), as nominee in trust for the Sale Facility participants. These Eldorado Shares will be sold by the Sale Agent through the Sale Facility within 15 trading days of December 15, 2009, following which the Sale Facility participants will receive their pro rata share of the proceeds of such sale, less applicable deductions for taxes and currency conversion costs.
Pursuant to the implementation of the Transaction, Eldorado also announces the appointment of two additional directors to the Eldorado board, James Askew and Peter Cassidy. Mr. Askew is the former non-executive chairman of the board of directors of Sino Gold and is a mining engineer with broad international experience as CEO for a number of Australian and international publicly listed mining, mining finance and other mining-related companies over twenty-one years, fifteen of which have been in the gold sector. Mr. Cassidy is a senior mining executive with over thirty-seven years exposure to the minerals industry, including public company experience, in Australia, Papua New Guinea, Indonesia and the USA, including more than fifteen years in the gold industry. Mr. Cassidy is a former non-executive director of Sino Gold.
Eldorado also announces the appointment of Robert R. Gilmore as the Chair of the Eldorado Board of Directors. Mr. Gilmore has been a Director of Eldorado since April 2003. He replaces Hugh C. Morris, who is stepping down from his position as Chair, effective today. The Company thanks Mr. Morris for his many contributions to the Company throughout his tenure as a Chair of the Eldorado Board. Going forward, Mr. Morris will continue to serve as a non-executive director of the Company.
The Transaction was previously approved by the holders of Sino Gold Securities at three separate meetings which were held in Sydney, Australia on December 2, 2009 and by the Federal Court of Australia in a hearing on December 4, 2009, with the final court order being filed with the Australian Securities and Investments Commission on December 4, 2009.
For further information on the Transaction (including the Sale Facility) see the Scheme Deed and the Schemes, which are available on SEDAR under Eldorado's name.
Following completion of the Transaction, Eldorado's market capitalization is approximately C$7.7 billion (based on a C$14.42 closing price of the Eldorado Shares on the TSX on December 14, 2009). Going forward, the combined entity is expected to be gold-focused and will have a significant presence in China and Turkey, including several mines in production, along with exposure in Greece and Brazil. Eldorado will continue to be headquartered in Vancouver, British Columbia.
With the acquisition of Sino Gold, Eldorado has acquired Sino Gold's interests in the Jinfeng Gold Mine in southern China's Guizhou Province (the second largest gold mine in China), the White Mountain Gold Mine in northeast China's Jilin Province and the Eastern Dragon Gold Project in northern China's Heilongjiang Province.
For further information of our properties, including our resources and reserves, see our website at http://www.eldoradogold.com/.
Eldorado is a gold producing, exploration and development company actively growing businesses in Brazil, China, Greece, and Turkey and surrounding regions. We are one of the lowest cost pure gold producers. With our international expertise in mining, finance and project development, together with highly skilled and dedicated staff, we believe that Eldorado is well positioned to grow in value as we create and pursue new opportunities.
ON BEHALF OF ELDORADO GOLD CORPORATION
Paul N. Wright, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Such forward-looking statements or information include, but are not limited to statements or information with respect to the Transaction, production targets and the impact of the implementation of the Transaction on Eldorado, its operations, financial position, reserves and resources and gold production.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including assumptions about the implementation of the Transaction and its impact on our operations, financial position, reserves and resources and gold production, price of gold, anticipated costs and expenditures and the ability to achieve our goals. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: the risk that the integration of the Eldorado and Sino Gold businesses taking longer than expected and the anticipated efficiencies and benefits of the integration may be less than estimated and the costs of acquisition higher than anticipated; risks of not meeting production and cost targets; gold price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment and operating in foreign countries; currency fluctuations; speculative nature of gold exploration; global economic climate; dilution; share price volatility; competition; ability to complete acquisitions; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Information Form & Form 40-F dated March 31, 2009.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the U.S.
Cautionary Note Regarding Sino Gold Information
Information on Sino Gold was derived from Sino Gold's public disclosure prior to the implementation of the Transaction. For further information on Sino Gold, readers are directed to Scheme Booklet prepared by Sino Gold in connection with the Transaction available at http://www.sedar.com/ under Sino Gold's name.
Eldorado Gold Corporation's common shares trade on the Toronto Stock Exchange (TSX:ELD - News) and the New York Stock Exchange (NYSE:EGO - News). Eldorado CDIs trade on the Australian Securities Exchange (ASX:EAU - News).
Request for information packages: info@eldoradogold.com
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Saturday, December 12, 2009
CoalSectorStocks.com; Following Coal Stocks and the Coal Industry with New Updated Coal Stocks Directory for Investors
CoalSectorStocks.com; Following Coal Stocks and the Coal Industry with New Updated Coal Stocks Directory for Investors
POINT ROBERTS, WA, Delta B.C. December 12,2009 - www.CoalSectorStocks.com, a global investor and industry portal for coal sector stocks within the www.InvestorIdeas.com umbrella of investor portals has updated the coal stocks directory as renewed investor interest builds momentum in the sector and some it’s leading stocks.
www.CoalSectorStocks.com (CSS),within the InvestorIdeas.com content umbrella, offer investors research, news, blogs, RSS Feeds, and a directory of public companies within the coal industry .
Preview of Coal Stocks Directory:
http://www.investorideas.com/CSS/Stock_List.asp
ADA-ES (NasdaqCM: ADES) is a leader in clean coal technology and the associated specialty chemicals. The Company develops and implements proprietary environmental technology and specialty chemicals that enable coal-fueled power plants to enhance existing air pollution control equipment, maximize capacity and improve operating efficiencies. Through its largest segment, Mercury Emission Control, ADA-ES supplies activated carbon injection systems, mercury measurement instrumentation, and related services. To meet the needs of the power industry for mercury control, ADA-CS, the Company's joint venture with ECP, is developing state-of-the-art facilities to produce AC with the first plant projected to come on-line in 2010. Additionally, the Company is developing technologies for power plants to address issues related to the emissions of carbon dioxide.
Alliance Resource Partners LP ( NasdaqGS:ARLP) is a diversified producer and marketer of coal to major United States utilities and industrial users. ARLP, the nation's only publicly traded master limited partnership involved in the production and marketing of coal, is currently the fifth largest coal producer in the eastern United States. ARLP operates eight mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia. ARLP recently initiated mining operations at a new mining complex currently under construction in Kentucky and is also constructing a new mining complex in West Virginia. In addition, ARLP operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana. ARLP's mining activities are conducted in three geographic regions commonly referred to in the coal industry as the Illinois Basin, Central Appalachian and Northern Appalachian regions.
Alpha Natural Resources (NYSE:ANR) is one of America's premier coal suppliers with coal production capacity of more than 90 million tons a year. Alpha is the nation's leading supplier and exporter of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries across the country. The company, through its affiliates, employs approximately 6,200 people and operates more than 60 mines and 14 coal preparation facilities in the regions of Northern and Central Appalachia and the Powder River Basin.
Anglo American plc ( OTCPK:AAUKF; LSE:AAL.L) is one of the world's largest mining and natural resource groups. The coal business, Anglo Coal, is the world's sixth largest private sector coal producer and exporter, with operations in South Africa, Australia, South America and Canada.
Anhui Hengyuan Coal Industry & Electricity Power Co., Ltd (Shanghai:600971.SH) is principally engaged in the mining, processing and distribution of coal, as well as the generation of electricity. The Company distributes its products in domestic markets. As of December 31, 2008, the Company had two wholly owned subsidiaries engaged in the mining and sale of coal and one subsidiary engaged in the power generation with coal slurry and coal slack.
Aquila Resources Limited (ASX:AQA.AX) is a minerals exploration company focused on coal and iron ore exploration in Australia and overseas. AQA also produces coal from its Isaac Plains Project in the Bowen Basin, Central Queensland.
Arch Coal, Inc (NYSE:ACI) is the second largest U.S. coal producer. Through its national network of mines, Arch supplies cleaner-burning, low-sulfur coal to U.S. power producers to fuel roughly 8 percent of the nation's electricity. The company also ships coal to domestic and international steel manufacturers as well as international power producers.
Arrow Energy Ltd. (ASX:AOE.AX) is an emerging global leader in coal seam gas development with an expanding business presence in Australia, China, India, Vietnam and Indonesia. The relentless execution of our growth strategy is returning increasing value to our shareholders and host communities and building a company that's reaching new levels of performance in a dynamic international marketplace.
Aztec Oil & Gas Inc. (OTCPK:AZGS) is an oil and gas exploration, development and production company focusing on numerous areas throughout the U.S. It owns a minority interest in a 29-well oil and natural gas program in Pennsylvania. Aztec also owns a minority interest in two producing Deep Lake wells in Cameron Parish, Louisiana ranging from 13,600 feet to 14,300 feet in depth. Aztec additionally owns a minority interest in one Wharton County, Texas producer; and one Barnett Shale play area well located in Wise County, Texas which had good initial oil and gas shows, is producing, but is experiencing mechanical difficulties. Aztec has a minority interest in three producing gas wells in Oklahoma of which two are conventional wells, and the third is a horizontal, Coal Bed Methane (CBM) well.
Beard Co. (OTCBB:BRCO) has shifted its focus to three areas, all involving natural resources, that management believes have high growth and/or above-average profit potential. The Company is involved in oil and gas activities; coal reclamation activities; and minerals exploration and development through its Geohedral investment.
*To view the entire list you must be a member or purchase the directory in PDF
Investorideas.com has created some of the most comprehensive online stock directories for investors in leading sectors. The renewable energy stocks directory has an estimated 900 stocks and the oil and gas stock directories has over 500 stocks. Directories can all be purchased individually in PDF or as part of the Investor Ideas Membership via login access.
Investor Ideas Members can also access by login the Mining stocks directory, oil and gas stocks directory , Natural Gas Stocks Directory , Water Stocks Directory, Renewable energy stocks directory, Biotech Stocks Directory, Defense and Homeland Security Stocks Directory, Fuel cell stocks Directory, Environment Stocks Directory and the investor newsletter- The Insiders Corner, covering insider buying trends in small cap stocks.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
-Public companies please contact us with updates, corrections and additions.
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
POINT ROBERTS, WA, Delta B.C. December 12,2009 - www.CoalSectorStocks.com, a global investor and industry portal for coal sector stocks within the www.InvestorIdeas.com umbrella of investor portals has updated the coal stocks directory as renewed investor interest builds momentum in the sector and some it’s leading stocks.
www.CoalSectorStocks.com (CSS),within the InvestorIdeas.com content umbrella, offer investors research, news, blogs, RSS Feeds, and a directory of public companies within the coal industry .
Preview of Coal Stocks Directory:
http://www.investorideas.com/CSS/Stock_List.asp
ADA-ES (NasdaqCM: ADES) is a leader in clean coal technology and the associated specialty chemicals. The Company develops and implements proprietary environmental technology and specialty chemicals that enable coal-fueled power plants to enhance existing air pollution control equipment, maximize capacity and improve operating efficiencies. Through its largest segment, Mercury Emission Control, ADA-ES supplies activated carbon injection systems, mercury measurement instrumentation, and related services. To meet the needs of the power industry for mercury control, ADA-CS, the Company's joint venture with ECP, is developing state-of-the-art facilities to produce AC with the first plant projected to come on-line in 2010. Additionally, the Company is developing technologies for power plants to address issues related to the emissions of carbon dioxide.
Alliance Resource Partners LP ( NasdaqGS:ARLP) is a diversified producer and marketer of coal to major United States utilities and industrial users. ARLP, the nation's only publicly traded master limited partnership involved in the production and marketing of coal, is currently the fifth largest coal producer in the eastern United States. ARLP operates eight mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia. ARLP recently initiated mining operations at a new mining complex currently under construction in Kentucky and is also constructing a new mining complex in West Virginia. In addition, ARLP operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana. ARLP's mining activities are conducted in three geographic regions commonly referred to in the coal industry as the Illinois Basin, Central Appalachian and Northern Appalachian regions.
Alpha Natural Resources (NYSE:ANR) is one of America's premier coal suppliers with coal production capacity of more than 90 million tons a year. Alpha is the nation's leading supplier and exporter of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries across the country. The company, through its affiliates, employs approximately 6,200 people and operates more than 60 mines and 14 coal preparation facilities in the regions of Northern and Central Appalachia and the Powder River Basin.
Anglo American plc ( OTCPK:AAUKF; LSE:AAL.L) is one of the world's largest mining and natural resource groups. The coal business, Anglo Coal, is the world's sixth largest private sector coal producer and exporter, with operations in South Africa, Australia, South America and Canada.
Anhui Hengyuan Coal Industry & Electricity Power Co., Ltd (Shanghai:600971.SH) is principally engaged in the mining, processing and distribution of coal, as well as the generation of electricity. The Company distributes its products in domestic markets. As of December 31, 2008, the Company had two wholly owned subsidiaries engaged in the mining and sale of coal and one subsidiary engaged in the power generation with coal slurry and coal slack.
Aquila Resources Limited (ASX:AQA.AX) is a minerals exploration company focused on coal and iron ore exploration in Australia and overseas. AQA also produces coal from its Isaac Plains Project in the Bowen Basin, Central Queensland.
Arch Coal, Inc (NYSE:ACI) is the second largest U.S. coal producer. Through its national network of mines, Arch supplies cleaner-burning, low-sulfur coal to U.S. power producers to fuel roughly 8 percent of the nation's electricity. The company also ships coal to domestic and international steel manufacturers as well as international power producers.
Arrow Energy Ltd. (ASX:AOE.AX) is an emerging global leader in coal seam gas development with an expanding business presence in Australia, China, India, Vietnam and Indonesia. The relentless execution of our growth strategy is returning increasing value to our shareholders and host communities and building a company that's reaching new levels of performance in a dynamic international marketplace.
Aztec Oil & Gas Inc. (OTCPK:AZGS) is an oil and gas exploration, development and production company focusing on numerous areas throughout the U.S. It owns a minority interest in a 29-well oil and natural gas program in Pennsylvania. Aztec also owns a minority interest in two producing Deep Lake wells in Cameron Parish, Louisiana ranging from 13,600 feet to 14,300 feet in depth. Aztec additionally owns a minority interest in one Wharton County, Texas producer; and one Barnett Shale play area well located in Wise County, Texas which had good initial oil and gas shows, is producing, but is experiencing mechanical difficulties. Aztec has a minority interest in three producing gas wells in Oklahoma of which two are conventional wells, and the third is a horizontal, Coal Bed Methane (CBM) well.
Beard Co. (OTCBB:BRCO) has shifted its focus to three areas, all involving natural resources, that management believes have high growth and/or above-average profit potential. The Company is involved in oil and gas activities; coal reclamation activities; and minerals exploration and development through its Geohedral investment.
*To view the entire list you must be a member or purchase the directory in PDF
Investorideas.com has created some of the most comprehensive online stock directories for investors in leading sectors. The renewable energy stocks directory has an estimated 900 stocks and the oil and gas stock directories has over 500 stocks. Directories can all be purchased individually in PDF or as part of the Investor Ideas Membership via login access.
Investor Ideas Members can also access by login the Mining stocks directory, oil and gas stocks directory , Natural Gas Stocks Directory , Water Stocks Directory, Renewable energy stocks directory, Biotech Stocks Directory, Defense and Homeland Security Stocks Directory, Fuel cell stocks Directory, Environment Stocks Directory and the investor newsletter- The Insiders Corner, covering insider buying trends in small cap stocks.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
-Public companies please contact us with updates, corrections and additions.
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Thursday, December 10, 2009
Consolidated Spire Ventures (TSX.V: CZS) Announces Winter Exploration Update At Prospect Valley
Consolidated Spire Ventures (TSX.V: CZS) Announces Winter Exploration Update At Prospect Valley
Consolidated Spire Ventures Ltd (TSX.V: CZS) is pleased to announce that the Altair Ventures Incorporated (“Altair") Prospect Valley exploration team (by re-evaluating past information on soil samples, trench results, drill logs, IP and MAG information) has uncovered 8 areas that they consider ‘hot spots’ and are in the process of uncovering and defining these areas in preparation of a proposed drill program.
Due to extreme snow conditions for this time of the year, the 6-man crew has switched from ATV's to snow machines for travel on the Prospect Valley lower road, and it’s actually faster to reach the North and South Discovery Zones than by truck or ATV. The weather has not hampered the efforts of completing the planned soil &pit program. The snow machines are pulling sleds that carry the supplies & equipment in each day, and then transport the soil & rock samples out at the end of the day.
The primary objective for the current ground work program (late fall/winter 2009) is to prioritize drill targets, both within the Discovery Zones and for gold showings in numerous other ‘hot spot’ areas of the property, such as the Ridgeline Target, the NW Dome, the Northeast Extension, the Southeast Trend Target and the Crown Target. This
current phase will include short trenching, soil & rock sampling and a re-evaluation of drill targets.
The next phase in the 2010 field exploration program is to include diamond drilling in the Discovery Zones and to test other targets identified by the current program.
Altair has an option to earn up to a 90% interest in the 107.9 sq km, Prospect Valley Gold Property, located within the Spences Bridge Gold Belt in southern British Columbia, approximately 3 hours driving time from Vancouver.
The property is road-accessible and in close proximity to good infrastructure from Merritt, BC.
FOR INFORMATION OR INVESTOR RELATIONS CONTACT THE COMPANY
AT (604) 662-7455 OR VISIT THE WEBSITE AT www.spireventures.com
ON BEHALF OF THE BOARD
Brian Buchanan
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Consolidated Spire Ventures Ltd (TSX.V: CZS) is pleased to announce that the Altair Ventures Incorporated (“Altair") Prospect Valley exploration team (by re-evaluating past information on soil samples, trench results, drill logs, IP and MAG information) has uncovered 8 areas that they consider ‘hot spots’ and are in the process of uncovering and defining these areas in preparation of a proposed drill program.
Due to extreme snow conditions for this time of the year, the 6-man crew has switched from ATV's to snow machines for travel on the Prospect Valley lower road, and it’s actually faster to reach the North and South Discovery Zones than by truck or ATV. The weather has not hampered the efforts of completing the planned soil &pit program. The snow machines are pulling sleds that carry the supplies & equipment in each day, and then transport the soil & rock samples out at the end of the day.
The primary objective for the current ground work program (late fall/winter 2009) is to prioritize drill targets, both within the Discovery Zones and for gold showings in numerous other ‘hot spot’ areas of the property, such as the Ridgeline Target, the NW Dome, the Northeast Extension, the Southeast Trend Target and the Crown Target. This
current phase will include short trenching, soil & rock sampling and a re-evaluation of drill targets.
The next phase in the 2010 field exploration program is to include diamond drilling in the Discovery Zones and to test other targets identified by the current program.
Altair has an option to earn up to a 90% interest in the 107.9 sq km, Prospect Valley Gold Property, located within the Spences Bridge Gold Belt in southern British Columbia, approximately 3 hours driving time from Vancouver.
The property is road-accessible and in close proximity to good infrastructure from Merritt, BC.
FOR INFORMATION OR INVESTOR RELATIONS CONTACT THE COMPANY
AT (604) 662-7455 OR VISIT THE WEBSITE AT www.spireventures.com
ON BEHALF OF THE BOARD
Brian Buchanan
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Gold Stocks News - Alamos Gold Inc. (TSX:AGI) Signs Agreement for the Purchase of Agi Dagi and Kirazli Gold Projects in Northwestern Turkey
Gold Stocks News - Alamos Gold Inc. (TSX:AGI) Signs Agreement for the Purchase of Agi Dagi and Kirazli Gold Projects in Northwestern Turkey
TORONTO, ONTARIO--- 12/09/09 - Alamos Gold Inc. (TSX:AGI) , Fronteer Development Group Inc.(TSX:FRG )(AMEX:FRG ), and Teck Resources Limited (TSX:TCK.B )(NYSE:TCK ) have signed a definitive share purchase agreement providing for Alamos to acquire 100% of the Agi Dagi and Kirazli gold projects through the purchase of certain Turkish subsidiaries held by Teck and Fronteer respectively.
This agreement replaces the memorandum of understanding signed by the parties on September 22, 2009. The transaction is subject to satisfaction of certain conditions precedent and is anticipated to close as early as December 17, 2009 and no later than January 31, 2010. Under the terms of the agreement, Alamos is to pay a total of US$40 million cash plus issue an aggregate of 4 million Alamos common shares on closing to Teck (as to 60%) and Fronteer (as to 40%) in total consideration for acquiring these two projects. The common shares will be issued on a private placement basis and will be subject to a four month hold period.
Agi Dagi and Kirazli are advanced-stage gold exploration projects that form part of the Biga Mineral District, a recently established gold-copper mineral district, which is located in the Biga Peninsula of northwestern Turkey. The Biga Mineral District features a growing number of high-sulfidation epithermal gold and associated porphyry copper-gold deposits, drawing comparisons to world-class districts such as Yanacocha, Pierina, and Alto Chicama in Peru. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net Smelter Return Royalty on production from the Agi Dagi project.
About Alamos
Alamos is a Canadian-based gold producer with operations, exploration, and development activities in Mexico. The Company employs over 450 people in Mexico and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Alamos has over $170 million dollars on hand, is debt free, and unhedged to the price of gold. Alamos' common shares are traded on the Toronto Stock Exchange under the symbol "AGI".
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including without limitation statements regarding forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos' expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Alamos' Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
TORONTO, ONTARIO--- 12/09/09 - Alamos Gold Inc. (TSX:AGI) , Fronteer Development Group Inc.(TSX:FRG )(AMEX:FRG ), and Teck Resources Limited (TSX:TCK.B )(NYSE:TCK ) have signed a definitive share purchase agreement providing for Alamos to acquire 100% of the Agi Dagi and Kirazli gold projects through the purchase of certain Turkish subsidiaries held by Teck and Fronteer respectively.
This agreement replaces the memorandum of understanding signed by the parties on September 22, 2009. The transaction is subject to satisfaction of certain conditions precedent and is anticipated to close as early as December 17, 2009 and no later than January 31, 2010. Under the terms of the agreement, Alamos is to pay a total of US$40 million cash plus issue an aggregate of 4 million Alamos common shares on closing to Teck (as to 60%) and Fronteer (as to 40%) in total consideration for acquiring these two projects. The common shares will be issued on a private placement basis and will be subject to a four month hold period.
Agi Dagi and Kirazli are advanced-stage gold exploration projects that form part of the Biga Mineral District, a recently established gold-copper mineral district, which is located in the Biga Peninsula of northwestern Turkey. The Biga Mineral District features a growing number of high-sulfidation epithermal gold and associated porphyry copper-gold deposits, drawing comparisons to world-class districts such as Yanacocha, Pierina, and Alto Chicama in Peru. In addition to statutory compensation that may apply to the projects, a third party has a 2% Net Smelter Return Royalty on production from the Agi Dagi project.
About Alamos
Alamos is a Canadian-based gold producer with operations, exploration, and development activities in Mexico. The Company employs over 450 people in Mexico and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Alamos has over $170 million dollars on hand, is debt free, and unhedged to the price of gold. Alamos' common shares are traded on the Toronto Stock Exchange under the symbol "AGI".
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including without limitation statements regarding forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, and future plans and objectives of Alamos, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos' expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Alamos' Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Tuesday, December 01, 2009
Mining Stocks and Gold Stocks Sector Close-Up; Gold Investors See New Highs
Mining Stocks and Gold Stocks Sector Close-Up; Gold Investors See New Highs
Gold Stocks on the Run; (NYSE: AEM), (NYSE: AU),( AMEX: EGO), (NYSE: ABX), (NYSE: KGC)
POINT ROBERTS, WA and DELTA, BC – December 1 , 2009, www.InvestorIdeas.com, and its mining stocks portals updates investors following gold and mining stocks with a sector close-up of leading stocks for December 1, 2009 as gold prices find new highs and reaches the $1200 mark.
Gold/Mining Stocks Sector Close – Up
Trading December 1, 2009
AGNICO EAGLE MINES (NYSE: AEM) trading at $ 65.94, up $ 3.28 (5.23%) 11:57am ET
ANGLOGOLD ASHANTI LT (NYSE: AU) trading at $ 46.61, up $ 2.57 (5.84%)
BARRICK GOLD CP (NYSE: ABX) trading at $45.83, up $ 3.14 (7.36%) 11:59am ET
ELDORADO GOLD CORP (AMEX: EGO) trading at $13.96, up $ 0.72 (5.44%) 11:59am ET
GOLDCORP INC (NYSE: GG) trading up at $44.47, up $ 2.47 (5.88%) 12:01pm ET
KINROSS GOLD CP (NYSE: KGC) trading at $21.27,up $ 1.25 (6.24%) 12:02pm ET
NEW GOLD INC (AMEX: NGD) trading at $ 3.73, up $ 0.15 (4.19%) 12:03PM ET
NEWMONT MINING CP (NYSE: NEM) trading at $ 56.10, up $ 2.46 (4.59%) 12:04pm ET
About our Mining Portals:
http://www.gold-miningstocks.com/ and http://www.miningsectorstocks.com/, portals within the InvestorIdeas.com® content umbrella, feature industry and stock news, exclusive articles and financial columnists, audio interviews and podcasts, investor conferences, blogs, and a directory of stocks in the sector. Industry participants are invited to submit news, articles and research.
Investorideas.com mining stocks directory currently features an estimated 1000 mining stocks for investors to research. The directory is also updated weekly and monthly as we source new companies in the sector.
Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading global Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s URL and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Investorideas.com has created some of the most comprehensive online stock directories for investors in leading sectors. The renewable energy stocks directory has an estimated 1000 stocks and the oil and gas stock directories has over 500 stocks.
Members can now access by login the Mining stocks directory, oil and gas stocks directory , Natural Gas Stocks Directory , Water Stocks Directory, Renewable energy stocks directory, Biotech Stocks Directory, Defense and Homeland Security Stocks Directory, Fuel cell stocks Directory, Environment Stocks Directory and the investor newsletter- The Insiders Corner, covering insider buying trends in small cap stocks.
Investors are also reminded to sign up for the launch of the new free investor newsletter – the next great investor idea! Investors can sign up for the new free newsletter on the pop- up box on the home page of http://www.investorideas.com/ or the newsletter sign up page.
Mining Stocks – Reach investors following mining stocks at Investorideas.com:
Submit Mining and Gold Stock News
Mining Stocks Investor Awareness Programs
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
Gold Stocks on the Run; (NYSE: AEM), (NYSE: AU),( AMEX: EGO), (NYSE: ABX), (NYSE: KGC)
POINT ROBERTS, WA and DELTA, BC – December 1 , 2009, www.InvestorIdeas.com, and its mining stocks portals updates investors following gold and mining stocks with a sector close-up of leading stocks for December 1, 2009 as gold prices find new highs and reaches the $1200 mark.
Gold/Mining Stocks Sector Close – Up
Trading December 1, 2009
AGNICO EAGLE MINES (NYSE: AEM) trading at $ 65.94, up $ 3.28 (5.23%) 11:57am ET
ANGLOGOLD ASHANTI LT (NYSE: AU) trading at $ 46.61, up $ 2.57 (5.84%)
BARRICK GOLD CP (NYSE: ABX) trading at $45.83, up $ 3.14 (7.36%) 11:59am ET
ELDORADO GOLD CORP (AMEX: EGO) trading at $13.96, up $ 0.72 (5.44%) 11:59am ET
GOLDCORP INC (NYSE: GG) trading up at $44.47, up $ 2.47 (5.88%) 12:01pm ET
KINROSS GOLD CP (NYSE: KGC) trading at $21.27,up $ 1.25 (6.24%) 12:02pm ET
NEW GOLD INC (AMEX: NGD) trading at $ 3.73, up $ 0.15 (4.19%) 12:03PM ET
NEWMONT MINING CP (NYSE: NEM) trading at $ 56.10, up $ 2.46 (4.59%) 12:04pm ET
About our Mining Portals:
http://www.gold-miningstocks.com/ and http://www.miningsectorstocks.com/, portals within the InvestorIdeas.com® content umbrella, feature industry and stock news, exclusive articles and financial columnists, audio interviews and podcasts, investor conferences, blogs, and a directory of stocks in the sector. Industry participants are invited to submit news, articles and research.
Investorideas.com mining stocks directory currently features an estimated 1000 mining stocks for investors to research. The directory is also updated weekly and monthly as we source new companies in the sector.
Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading global Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), company’s URL and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 8 stock directories and investor newsletter.
Investorideas.com has created some of the most comprehensive online stock directories for investors in leading sectors. The renewable energy stocks directory has an estimated 1000 stocks and the oil and gas stock directories has over 500 stocks.
Members can now access by login the Mining stocks directory, oil and gas stocks directory , Natural Gas Stocks Directory , Water Stocks Directory, Renewable energy stocks directory, Biotech Stocks Directory, Defense and Homeland Security Stocks Directory, Fuel cell stocks Directory, Environment Stocks Directory and the investor newsletter- The Insiders Corner, covering insider buying trends in small cap stocks.
Investors are also reminded to sign up for the launch of the new free investor newsletter – the next great investor idea! Investors can sign up for the new free newsletter on the pop- up box on the home page of http://www.investorideas.com/ or the newsletter sign up page.
Mining Stocks – Reach investors following mining stocks at Investorideas.com:
Submit Mining and Gold Stock News
Mining Stocks Investor Awareness Programs
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, Middle East and Australia.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
Subscribe to:
Posts (Atom)