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
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Tuesday, December 01, 2009
Monday, November 30, 2009
Kiska Reports Additional Results From Island Mountain Gold Discovery, Whistler Project, Alaska
Kiska Reports Additional Results From Island Mountain Gold Discovery, Whistler Project, Alaska
VANCOUVER, BRITISH COLUMBIA--- Nov. 30, 2009 - Kiska Metals Corporation (TSX VENTURE:KSK) ("Kiska") is pleased to report copper and silver results from the recently announced gold discovery at the Island Mountain target, located approximately 23 kilometres south of the Whistler deposit. As reported November 2, 2009 (KSKPR09-06), the first of five holes completed in the 2009 drilling program on the Whistler Project returned 0.68 g/t gold over 382.9 metres, including an upper copper and silver-bearing interval and a lower gold-only intersection. The upper interval of 150.0 metres in drilled length averaged 0.72 g/t gold (previously reported), 2.37 g/t silver and 0.16% copper (1.06 g/t gold equivalent). A second interval averaged 1.22 g/t gold (previously reported), 0.69 g/t silver and 0.05% copper over the bottom 106.9 metres of the drill hole. Island Mountain represents a porphyry target distinct from the Whistler deposit which hosts a NI43-101 compliant indicated resource of 1.31 million ounces gold-equivalent and an inferred resource of 4.44 million ounces gold-equivalent (see Appendix 1 for details).
"We are very encouraged by the discovery at Island Mountain," stated Mark Baknes, Vice President of Exploration for Kiska Metals. "The hole ended in a significant stretch of mineralization with surficial and magnetics data indicating further potential both at depth and laterally. We very excited about follow up drilling at Island Mountain next year."
The upper gold bearing intersection in IM09-001 (150.0 metres averaging 0.72 g/t gold, 2.37 g/t silver and 0.16% copper) corresponds to a breccia targeted on surface, consisting of an actinolite-magnetite-altered hydrothermal breccia with pyrrhotite-pyrite-chalcopyrite. The deeper gold-bearing zone (106.9 metres averaging 1.22 g/t gold), from 280.0 to the 386.9 metres (end of hole) consists of pyrrhotite veins and vein halos of net textured pyrrhotite surrounding veins. Average metal content over the entire hole for molybdenum (75% of samples below analytical detection), lead (26 ppm) and zinc (135 ppm) is low as are deleterious elements arsenic (57 ppm) and antimony (below analytical detection).
Island Mountain consists of Whistler-equivalent intrusive rocks, anomalous copper and gold rock and soil geoachemistry and associated gossans covering a 2.5 by 4.0 kilometre area. The discovery hole targeted a 150 metre diameter exposure of hydrothermal breccia at the southern end of Island Mountain where surface rock samples have returned values up to 1.19 g/t gold, 5.2 g/t silver and 0.2% copper. Similar gold and copper bearing breccias are noted 600 metres northeast and 500 metres southeast of the discovery hole and reconnaissance soil sampling extending 1.6 kilometres to the northeast from this hole is strongly anomalous in copper and gold. A second Island Mountain hole (IM09-002) was completed 1.7 kilometres to the north of the first hole. This hole targeted a broad zone of weak to moderate biotite altered monzonite porphyry and disseminated chalcopyrite, returning 0.13 g/t gold over 202.3 metres. Although anomalous in gold over its entire length, the hole was lost due to technical reasons prior to reaching target depth.
Island Mountain Diamond Drilling
IM09-001: Azimuth 085, Dip -50, Total Depth 386.9 m
From (m)
To (m)
Length (m)
Gold (g/t)1
Silver (g/t)
Copper (%)
Gold Eq. (g/t)2
4
386.9*
382.9
0.68
1.4
0.10
0.88
Including
44
194
150
0.72
2.37
0.16
1.06
Including
44
120
76
0.63
3.55
0.20
1.07
and
280
386.9*
106.9
1.22
0.69
0.05
1.32
IM09-002: Azimuth 135, Dip -60, Total Depth 214.3 m
11.9
214.3*
202.4
0.13
0.18
0.05
0.24
* End of Hole1 Previously reported2 Gold equivalent calculations based on full recoveries and $550 per ounce gold, $8 per ounce silver and $1.50 per pound copper.
A total of five holes were completed in the current program. The three remaining holes, for which any assay results have yet to be received, targeted the Lightning, Digger and Raintree West targets, all of which are in the Whistler Corridor (see Kiska website for a plan map outlining the location of these holes). A 2008 hole at Raintree West, located 1.5 kilometres east of the Whistler Deposit, returned 160 metres averaging 0.59g/t gold, 6.02g/t silver, 0.10% copper, 0.20% lead and 0.46% zinc. Results from the remaining three holes are expected to be released in early December.
A further 15 holes are planned to test regional targets in the Whistler corridor as part of a spring 2010 program. These holes will be targeted on the basis of an Induced Polarization ("IP") geophysical survey as well as geological mapping, geochemistry and previously collected airborne magnetic data. This work is conducted under an agreement with Kennecott Exploration Inc.to identify and drill test the multiple targets found property-wide Kennecott has the right to obtain a 51% interest in the project by refunding 200% of the exploration expenditures incurred by Kiska and its predecessors (an estimated $25 million payment) and by advancing the project to a positive prefeasibility study. Kennecott can obtain an additional 9% interest by advancing the project to a production decision.
Induced Polarization Survey UpdateKiska has finished groundwork at Whistler for the 2009 field season. In addition to drilling, Kiska was conducting a large 3D and 2D IP survey of up to 340 line kilometers. The 2D portion of the survey was finished in September whereas approximately 80% of the 3D survey was completed prior to shutting the program down due to frozen ground conditions that made the collection of high quality data difficult. IP geophysics is an electrical geophysical technique well suited in detecting sub-surface sulphide minerals such as copper-bearing chalcopyrite – a mineral closely associated with gold on the property.
About Kiska Metals Corp.Kiska Metals Corporation is a mineral exploration company with renowned technical expertise and sizable exploration portfolio containing the multi-million ounce Whistler gold deposit, numerous exciting early stage exploration opportunities around the world and partnerships with some of the world's largest and most successful gold and base metal producers. Kiska resulted from the merger of Rimfire Minerals Corporation and Geoinformatics Exploration in August 2009.
Qualified Person StatementThe content of this release has been reviewed and approved by Mark Baknes P. Geo., Vice President of Exploration of Kiska Metals Corporation. Mr. Baknes is a Qualified Person as defined under the terms of National Instrument 43-101. All drill core samples were analysed at Alaska Assay Laboratories in Fairbanks, Alaska.
On behalf of Kiska Metals Corporation
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such 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 Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov/edgar/searchedgar/webusers.htm.
APPENDIX 1. Mineral Resource Statement for the Whistler Gold Deposit, Alaska Prepared by SRK Consulting (Canada) Inc February 2008.
Tonnes and Grades
Total Contained Metal
Resource Category
Tonnage (Mt)
Gold (g/t)
Silver (g/t)
Copper (%)
Gold Eq3g/t
Gold (Moz)
Silver (Moz)
Copper (Mlb)
Gold Eq3(Moz)
Indicated (open-pit1)
30
0.87
2.46
0.24
1.35
0.84
2.37
159
1.31
Total Indicated
30
0.87
2.46
0.24
1.35
0.84
2.37
159
1.31
Inferred (open-pit1)
123
0.59
2.07
0.19
0.98
2.33
8.19
515
3.86
Inferred (underground2)
11
1.16
3.55
0.24
1.66
0.41
1.26
58
0.59
Total Inferred4
134
0.64
2.18
0.20
1.05
2.74
9.44
573
4.44
1. Reported within a conceptual pit shell and based at a cut-off grade of 0.3 g/t gold equivalent adjusted for metallurgical recovery.2. Reported based on an underground bulk mining method using a cut-off grade of 1.1 g/t gold equivalent adjusted for metallurgical recovery;3. Total grade and Total Contained Metal gold equivalent grade and ounces estimated based on equal full recoveries, $550 per ounce gold, $8 per ounce silver and $1.50 per pound of copper;4. Totals may vary due to rounding.
KSKPR09-08
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For more information, please contactKiska Metals Corporation
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.
VANCOUVER, BRITISH COLUMBIA--- Nov. 30, 2009 - Kiska Metals Corporation (TSX VENTURE:KSK) ("Kiska") is pleased to report copper and silver results from the recently announced gold discovery at the Island Mountain target, located approximately 23 kilometres south of the Whistler deposit. As reported November 2, 2009 (KSKPR09-06), the first of five holes completed in the 2009 drilling program on the Whistler Project returned 0.68 g/t gold over 382.9 metres, including an upper copper and silver-bearing interval and a lower gold-only intersection. The upper interval of 150.0 metres in drilled length averaged 0.72 g/t gold (previously reported), 2.37 g/t silver and 0.16% copper (1.06 g/t gold equivalent). A second interval averaged 1.22 g/t gold (previously reported), 0.69 g/t silver and 0.05% copper over the bottom 106.9 metres of the drill hole. Island Mountain represents a porphyry target distinct from the Whistler deposit which hosts a NI43-101 compliant indicated resource of 1.31 million ounces gold-equivalent and an inferred resource of 4.44 million ounces gold-equivalent (see Appendix 1 for details).
"We are very encouraged by the discovery at Island Mountain," stated Mark Baknes, Vice President of Exploration for Kiska Metals. "The hole ended in a significant stretch of mineralization with surficial and magnetics data indicating further potential both at depth and laterally. We very excited about follow up drilling at Island Mountain next year."
The upper gold bearing intersection in IM09-001 (150.0 metres averaging 0.72 g/t gold, 2.37 g/t silver and 0.16% copper) corresponds to a breccia targeted on surface, consisting of an actinolite-magnetite-altered hydrothermal breccia with pyrrhotite-pyrite-chalcopyrite. The deeper gold-bearing zone (106.9 metres averaging 1.22 g/t gold), from 280.0 to the 386.9 metres (end of hole) consists of pyrrhotite veins and vein halos of net textured pyrrhotite surrounding veins. Average metal content over the entire hole for molybdenum (75% of samples below analytical detection), lead (26 ppm) and zinc (135 ppm) is low as are deleterious elements arsenic (57 ppm) and antimony (below analytical detection).
Island Mountain consists of Whistler-equivalent intrusive rocks, anomalous copper and gold rock and soil geoachemistry and associated gossans covering a 2.5 by 4.0 kilometre area. The discovery hole targeted a 150 metre diameter exposure of hydrothermal breccia at the southern end of Island Mountain where surface rock samples have returned values up to 1.19 g/t gold, 5.2 g/t silver and 0.2% copper. Similar gold and copper bearing breccias are noted 600 metres northeast and 500 metres southeast of the discovery hole and reconnaissance soil sampling extending 1.6 kilometres to the northeast from this hole is strongly anomalous in copper and gold. A second Island Mountain hole (IM09-002) was completed 1.7 kilometres to the north of the first hole. This hole targeted a broad zone of weak to moderate biotite altered monzonite porphyry and disseminated chalcopyrite, returning 0.13 g/t gold over 202.3 metres. Although anomalous in gold over its entire length, the hole was lost due to technical reasons prior to reaching target depth.
Island Mountain Diamond Drilling
IM09-001: Azimuth 085, Dip -50, Total Depth 386.9 m
From (m)
To (m)
Length (m)
Gold (g/t)1
Silver (g/t)
Copper (%)
Gold Eq. (g/t)2
4
386.9*
382.9
0.68
1.4
0.10
0.88
Including
44
194
150
0.72
2.37
0.16
1.06
Including
44
120
76
0.63
3.55
0.20
1.07
and
280
386.9*
106.9
1.22
0.69
0.05
1.32
IM09-002: Azimuth 135, Dip -60, Total Depth 214.3 m
11.9
214.3*
202.4
0.13
0.18
0.05
0.24
* End of Hole1 Previously reported2 Gold equivalent calculations based on full recoveries and $550 per ounce gold, $8 per ounce silver and $1.50 per pound copper.
A total of five holes were completed in the current program. The three remaining holes, for which any assay results have yet to be received, targeted the Lightning, Digger and Raintree West targets, all of which are in the Whistler Corridor (see Kiska website for a plan map outlining the location of these holes). A 2008 hole at Raintree West, located 1.5 kilometres east of the Whistler Deposit, returned 160 metres averaging 0.59g/t gold, 6.02g/t silver, 0.10% copper, 0.20% lead and 0.46% zinc. Results from the remaining three holes are expected to be released in early December.
A further 15 holes are planned to test regional targets in the Whistler corridor as part of a spring 2010 program. These holes will be targeted on the basis of an Induced Polarization ("IP") geophysical survey as well as geological mapping, geochemistry and previously collected airborne magnetic data. This work is conducted under an agreement with Kennecott Exploration Inc.to identify and drill test the multiple targets found property-wide Kennecott has the right to obtain a 51% interest in the project by refunding 200% of the exploration expenditures incurred by Kiska and its predecessors (an estimated $25 million payment) and by advancing the project to a positive prefeasibility study. Kennecott can obtain an additional 9% interest by advancing the project to a production decision.
Induced Polarization Survey UpdateKiska has finished groundwork at Whistler for the 2009 field season. In addition to drilling, Kiska was conducting a large 3D and 2D IP survey of up to 340 line kilometers. The 2D portion of the survey was finished in September whereas approximately 80% of the 3D survey was completed prior to shutting the program down due to frozen ground conditions that made the collection of high quality data difficult. IP geophysics is an electrical geophysical technique well suited in detecting sub-surface sulphide minerals such as copper-bearing chalcopyrite – a mineral closely associated with gold on the property.
About Kiska Metals Corp.Kiska Metals Corporation is a mineral exploration company with renowned technical expertise and sizable exploration portfolio containing the multi-million ounce Whistler gold deposit, numerous exciting early stage exploration opportunities around the world and partnerships with some of the world's largest and most successful gold and base metal producers. Kiska resulted from the merger of Rimfire Minerals Corporation and Geoinformatics Exploration in August 2009.
Qualified Person StatementThe content of this release has been reviewed and approved by Mark Baknes P. Geo., Vice President of Exploration of Kiska Metals Corporation. Mr. Baknes is a Qualified Person as defined under the terms of National Instrument 43-101. All drill core samples were analysed at Alaska Assay Laboratories in Fairbanks, Alaska.
On behalf of Kiska Metals Corporation
Jason Weber, P.Geo., President & CEO
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such 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 Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov/edgar/searchedgar/webusers.htm.
APPENDIX 1. Mineral Resource Statement for the Whistler Gold Deposit, Alaska Prepared by SRK Consulting (Canada) Inc February 2008.
Tonnes and Grades
Total Contained Metal
Resource Category
Tonnage (Mt)
Gold (g/t)
Silver (g/t)
Copper (%)
Gold Eq3g/t
Gold (Moz)
Silver (Moz)
Copper (Mlb)
Gold Eq3(Moz)
Indicated (open-pit1)
30
0.87
2.46
0.24
1.35
0.84
2.37
159
1.31
Total Indicated
30
0.87
2.46
0.24
1.35
0.84
2.37
159
1.31
Inferred (open-pit1)
123
0.59
2.07
0.19
0.98
2.33
8.19
515
3.86
Inferred (underground2)
11
1.16
3.55
0.24
1.66
0.41
1.26
58
0.59
Total Inferred4
134
0.64
2.18
0.20
1.05
2.74
9.44
573
4.44
1. Reported within a conceptual pit shell and based at a cut-off grade of 0.3 g/t gold equivalent adjusted for metallurgical recovery.2. Reported based on an underground bulk mining method using a cut-off grade of 1.1 g/t gold equivalent adjusted for metallurgical recovery;3. Total grade and Total Contained Metal gold equivalent grade and ounces estimated based on equal full recoveries, $550 per ounce gold, $8 per ounce silver and $1.50 per pound of copper;4. Totals may vary due to rounding.
KSKPR09-08
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For more information, please contactKiska Metals Corporation
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.
ATAC Resources Ltd. Announces Closing of Private Placements Totalling $9,152,500
ATAC Resources Ltd. Announces Closing of Private Placements Totalling $9,152,500
VANCOUVER, BRITISH COLUMBIA-- Nov. 30, 2009 -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ATAC Resources Ltd. ("ATAC" or the "Company") (TSX VENTURE:ATC) is pleased to announce the closing of the following private placements, as originally announced by News Release dated November 5, 2009, as amended by News Release dated November 9, 2009:
(a) a 7,725,000 unit private placement at $0.90 per unit, for gross proceeds of $6,952,500, with each unit consisting of one common share and one-half (1/2) of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.25 until November 26, 2011, provided that, in the event the closing price of ATAC's shares as traded on the TSX Venture Exchange is $1.40 or greater for 10 consecutive trading days, ATAC may give notice of an earlier expiry of the warrants, in which case they would expire 30 calendar days from the giving of such notice; and
(b) a 2,000,000 flow-through share private placement at a price of $1.10 per share, for gross proceeds of $2,200,000.
In connection with the closing of these private placements, ATAC has issued the following securities in payment of finders' fees:
(a) 213,887 finders' units, each consisting of the same securities as the units comprising the 7,725,000 unit private placement disclosed above; and
(b) 429,305 finders' warrants, each entitling the holder to purchase one common share at a price of $0.95 until November 26, 2011, subject to the same potential earlier expiry applicable to the warrants comprising a part of the 7,725,000 unit private placement disclosed above.
All of the securities issued in connection with the closing of these private placements, including the securities issued in payment of finders' fees, are subject to a hold period in Canada until March 27, 2010.
ATAC is a well-funded junior mining company focused on gold. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the 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.
For more information, please contact
ATAC Resources Ltd.Graham DownsCEO 604-687-2522 604-687-2522
graham@nordacres.comwww.atacresources.com
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.
VANCOUVER, BRITISH COLUMBIA-- Nov. 30, 2009 -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ATAC Resources Ltd. ("ATAC" or the "Company") (TSX VENTURE:ATC) is pleased to announce the closing of the following private placements, as originally announced by News Release dated November 5, 2009, as amended by News Release dated November 9, 2009:
(a) a 7,725,000 unit private placement at $0.90 per unit, for gross proceeds of $6,952,500, with each unit consisting of one common share and one-half (1/2) of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.25 until November 26, 2011, provided that, in the event the closing price of ATAC's shares as traded on the TSX Venture Exchange is $1.40 or greater for 10 consecutive trading days, ATAC may give notice of an earlier expiry of the warrants, in which case they would expire 30 calendar days from the giving of such notice; and
(b) a 2,000,000 flow-through share private placement at a price of $1.10 per share, for gross proceeds of $2,200,000.
In connection with the closing of these private placements, ATAC has issued the following securities in payment of finders' fees:
(a) 213,887 finders' units, each consisting of the same securities as the units comprising the 7,725,000 unit private placement disclosed above; and
(b) 429,305 finders' warrants, each entitling the holder to purchase one common share at a price of $0.95 until November 26, 2011, subject to the same potential earlier expiry applicable to the warrants comprising a part of the 7,725,000 unit private placement disclosed above.
All of the securities issued in connection with the closing of these private placements, including the securities issued in payment of finders' fees, are subject to a hold period in Canada until March 27, 2010.
ATAC is a well-funded junior mining company focused on gold. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the 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.
For more information, please contact
ATAC Resources Ltd.Graham DownsCEO 604-687-2522 604-687-2522
graham@nordacres.comwww.atacresources.com
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.
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Golden Goliath Samples 78.1 gm/tonne Gold & 204 gm/tonne Silver
Golden Goliath (TSX VENTURE:GNG) Samples 78.1 gm/tonne Gold & 204 gm/tonne Silver
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2009) - Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F)
The Company continued exploration efforts include additional sampling and prospecting in and around the Los Hilos ridge. This area is in the eastern portion of the Las Bolas property, about 1,100 metres from the entrance to the Las Bolas tunnel, and has been traced over a length of 1,400 metres with a width between 200 to 400 metres. Disseminated gold and silver mineralization has been found in a zone subparallel to the Los Hilos ridge called Filo De Oro. This large north northwesterly trending structure intersects the three main Las Bolas trends resulting in dilation and higher gold precipitation. The fact that Golden Goliath is finding high grade mineralization surrounded by lower grade material supports this concept and enhances the overall potential of the Las Bolas property. The Company is currently focused on detailed geological and structural mapping in order to better understand the controls on mineralization and assist in the selection of future drill sites.
The Company is pleased to announce that higher grade gold and silver assays have been received from the Los Hilos ridge area of the Las bolas property. Several old workings have been identified within the Los Hilos ridge and they occur over a vertical interval of 105 metres. The Filo de Oro is a disseminated gold and silver target zone running along the crest of the ridge. The new samples come from an old exploration pit on the west side of the ridge, about 150 metres west of the Filo de Oro trend (see section below). The high gold grade mineralization is hosted in structures trending 70 degrees azimuth cross cut by structures with 330 degrees azimuth. These high grade structures are surrounded by a low grade bulk-tonnage target at Filo de Oro.
The contiguous samples were taken two metres apart across a fracture system structure within an intensely silicified rhyodacite breccia. The results are shown in the table below.
Sample Goldgram/tonne Silvergram/tonne Width(metre) AverageWidth(m) AverageGoldgram/tonne AverageSilvergram/tonne 808007 4.21 122 0.55 1.5 5.81 130.9 808008 6.74 136 0.95 808009 78.1 204 0.5 1.6 24.70 84.4 808010 0.43 30 1.1
At the south end of the Los Hilos Ridge there is a small internal claim (400 metres by 700 metres), completely surrounded by Golden Goliath claims, that the Company could not acquire due to title issues. This claim went into the Mexican "lottery system" and the winner was Penoles' sister company, Fresnillo, which has an exciting new discovery located only a few kilometers from Las Bolas called Orisyvo, a 2.8 million ounces gold resource according to Fresnillo Mining's website (http://www.mineweb.net/mineweb/view/mineweb/en/page67?oid=82938&sn=Detail). In spite of the fact that the internal claim is much too small to develop on its own, the Golden Goliath field crew has seen a helicopter setting out sampling crews on this small piece of ground. The Company's own sampling done in this area prior to the lottery showed that there are gold bearing structures that run through it and onto Golden Goliath ground on both sides. The Company plans to extend the Los Hilos Ridge and Filo De Oro sampling to the south to cover this area.
The Company is very pleased with the continuing results and is integrating this new gold/silver zone with detailed surface and underground mapping to further test the Los Hilos ridge and the Filo de Oro target in the next phase of drilling.
About Golden GoliathGolden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person who has reviewed this release is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
Note:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Golden Goliath Resources Ltd.J. Paul Sorbara, M.Sc., P.GeoPresident & CEO +1(604)-682-2950 +1(604)-682-2950+1(604)-685-3764 (FAX)jps@goldengoliath.comwww.goldengoliath.com
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.
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2009) - Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F)
The Company continued exploration efforts include additional sampling and prospecting in and around the Los Hilos ridge. This area is in the eastern portion of the Las Bolas property, about 1,100 metres from the entrance to the Las Bolas tunnel, and has been traced over a length of 1,400 metres with a width between 200 to 400 metres. Disseminated gold and silver mineralization has been found in a zone subparallel to the Los Hilos ridge called Filo De Oro. This large north northwesterly trending structure intersects the three main Las Bolas trends resulting in dilation and higher gold precipitation. The fact that Golden Goliath is finding high grade mineralization surrounded by lower grade material supports this concept and enhances the overall potential of the Las Bolas property. The Company is currently focused on detailed geological and structural mapping in order to better understand the controls on mineralization and assist in the selection of future drill sites.
The Company is pleased to announce that higher grade gold and silver assays have been received from the Los Hilos ridge area of the Las bolas property. Several old workings have been identified within the Los Hilos ridge and they occur over a vertical interval of 105 metres. The Filo de Oro is a disseminated gold and silver target zone running along the crest of the ridge. The new samples come from an old exploration pit on the west side of the ridge, about 150 metres west of the Filo de Oro trend (see section below). The high gold grade mineralization is hosted in structures trending 70 degrees azimuth cross cut by structures with 330 degrees azimuth. These high grade structures are surrounded by a low grade bulk-tonnage target at Filo de Oro.
The contiguous samples were taken two metres apart across a fracture system structure within an intensely silicified rhyodacite breccia. The results are shown in the table below.
Sample Goldgram/tonne Silvergram/tonne Width(metre) AverageWidth(m) AverageGoldgram/tonne AverageSilvergram/tonne 808007 4.21 122 0.55 1.5 5.81 130.9 808008 6.74 136 0.95 808009 78.1 204 0.5 1.6 24.70 84.4 808010 0.43 30 1.1
At the south end of the Los Hilos Ridge there is a small internal claim (400 metres by 700 metres), completely surrounded by Golden Goliath claims, that the Company could not acquire due to title issues. This claim went into the Mexican "lottery system" and the winner was Penoles' sister company, Fresnillo, which has an exciting new discovery located only a few kilometers from Las Bolas called Orisyvo, a 2.8 million ounces gold resource according to Fresnillo Mining's website (http://www.mineweb.net/mineweb/view/mineweb/en/page67?oid=82938&sn=Detail). In spite of the fact that the internal claim is much too small to develop on its own, the Golden Goliath field crew has seen a helicopter setting out sampling crews on this small piece of ground. The Company's own sampling done in this area prior to the lottery showed that there are gold bearing structures that run through it and onto Golden Goliath ground on both sides. The Company plans to extend the Los Hilos Ridge and Filo De Oro sampling to the south to cover this area.
The Company is very pleased with the continuing results and is integrating this new gold/silver zone with detailed surface and underground mapping to further test the Los Hilos ridge and the Filo de Oro target in the next phase of drilling.
About Golden GoliathGolden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Qualified Person who has reviewed this release is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Golden Goliath's Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.
Note:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Golden Goliath Resources Ltd.J. Paul Sorbara, M.Sc., P.GeoPresident & CEO +1(604)-682-2950 +1(604)-682-2950+1(604)-685-3764 (FAX)jps@goldengoliath.comwww.goldengoliath.com
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.
Mining Stocks News - Khan (TSX:KRI) Acquires 18% Stake in Macusani Yellowcake Inc.
Mining Stocks News - Khan (TSX:KRI) Acquires 18% Stake in Macusani Yellowcake Inc.
TORONTO, ONTARIO - Nov. 30, 2009 - Khan Resources Inc. (TSX:KRI) ("Khan") today announced that it has entered into a binding subscription agreement and has closed its subscription for 10.0 million common shares of Macusani Yellowcake Inc. (TSX VENTURE:YEL) ("Macusani") at a subscription price of Cdn.$0.20 per share. The subscription was part of a larger private placement, announced today by Macusani, of 14.15 million Macusani common shares for aggregate proceeds of Cdn.$2.83 million. Macusani now has approximately 55.9 million common shares outstanding (70.0 million on a fully-diluted basis), providing Khan with an ownership interest of approximately 17.9% of the outstanding Macusani common shares (on a non-diluted basis). Under separate agreement, Khan will have the right to maintain its pro rata ownership of Macusani in certain subsequent treasury issues for a period of 2 1/2 years.
This transaction is unrelated to the announcement on November 27 that Atomredmetzoloto JSC ("ARMZ") intends to make an unsolicited offer to purchase all of the outstanding shares of Khan. The negotiations with Macusani have been underway for some time, and, coincidentally, the subscription was expected to close on November 27 but the closing was delayed until today as certain closing conditions not within Khan's control were not met until today. Khan's Board of Directors considered its obligations under the subscription agreement in light of the unexpected ARMZ announcement and determined that it remained in the best interests of Khan to proceed with the Macusani investment at this time.
Khan has acquired the Macusani shares for investment purposes and does not presently have any further intention to acquire ownership of, or control over, any additional securities of Macusani, subject to its pre-emptive right to acquire additional Macusani shares to maintain its 17.9% ownership level in certain circumstances. A copy of Khan's early warning report relating to the private placement and prepared in accordance with National Instrument 62-103 will be filed on SEDAR at www.sedar.com and may be obtained by contacting 416.360.3405 416.360.3405.
Macusani controls over 20,000 hectares (2,000 km2) of land located on the Macusani Plateau in the Puno District of southern Peru, which include several significant advanced stage exploration properties. In December 2008, Macusani announced indicated resources of 1.3 million lbs of U3O8 at a grade of 0.37 lbs of U3O8 per short ton and inferred resources of 9.8 million lbs of U3O8 at a grade of 0.38 lbs per short ton on its Colibri II and Colibri III properties. In June 2009, Macusani acquired the Corapachi and Kihitian Concessions, two highly prospective properties on the Plateau where higher grade U3O8 has been identified. Khan understands that Macusani has conducted an exploration program on these properties subsequent to their acquisition and it is in the process of preparing a National Instrument 43-101 compliant resource estimate for these concessions.
Martin Quick, President and CEO of Khan stated "We are delighted to acquire this position in Macusani and be able to participate in what looks to be an exciting new major uranium district that hosts substantial amounts of near surface uranium amenable to low cost mining and milling techniques. This investment in Macusani represents a further step in fulfilling Khan's growth objectives." Mr. Quick added that "It is unfortunate that the prospective value associated with Khan's newly acquired interest in Macusani is somewhat overshadowed by the unsolicited offer that was announced by ARMZ, however, Khan was bound to proceed with the Macusani private placement notwithstanding the ARMZ offer and believes that its ownership in Macusani has the prospect of generating value for Khan shareholders in the long-term. We intend to give the ARMZ offer due consideration and will continue our efforts to identify value-enhancing opportunities for our shareholders. We will advise shareholders of the Board's position once a review of ARMZ's proposed formal offer and the terms and conditions of any such offer have been made publicly available."
Forward-Looking Statements and Information
This press release may contain forward-looking statements and forward-looking information, which are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are characterized by words such as "will", "plan", "expect", "project", "intend", "believe", "anticipate", "forecast", "schedule", "estimate" and similar expressions, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements and information are not historical facts and are based upon a number of estimates and assumptions and are inherently subject to significant business, social, economic, political, competitive and other risks and uncertainties, contingencies and other factors, including the impact of Mongolian and Canadian laws and regulatory requirements on ARMZ's proposed transaction and Khan's licenses, operations and capital structure, Khan's ability to re-register its existing licenses, political instability and obtaining governmental approvals, legislative, political, social and economic developments or changes in jurisdictions in which Khan, ARMZ and Macusani carry on business, the speculative nature of exploration and development, risks involved in the exploration, development and mining business, changes in market conditions, changes or disruptions in the securities markets and market fluctuations in prices for Khan securities, risks relating to the ARMZ offer not being formally commenced or not being made on terms and conditions acceptable to Khan, the lack of any alternative transactions, the terms and conditions of any alternative transactions not being acceptable, and uncertainty in the estimation of mineral reserves and resources. In addition, a number of other factors could cause actual results to differ materially from the results discussed in such statements and information, and there is no assurance that actual results will be consistent with them. For further details, reference is made to the risk factors discussed or referred to in Khan's annual and interim management's discussion and analyses and Annual Information Form on file with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Such forward-looking statements and information are made or given as at the date of this news release, and Khan assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law. For information concerning specific risks or uncertainties related to Macusani, reference should be made to Macusani's continuous disclosure documents available on SEDAR at www.sedar.com.
Khan Resources Inc. (TSX:KRI) is a Canadian company engaged in the acquisition, exploration and development of uranium properties. Its current activities are focused on the Dornod area in northeastern Mongolia, the site of a former Russian open-pit uranium mine. Khan holds interests in the Main Dornod Property, licensed for mining, and in the Additional Dornod Property, licensed for exploration. The Company's website is www.khanresources.com.
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
TORONTO, ONTARIO - Nov. 30, 2009 - Khan Resources Inc. (TSX:KRI) ("Khan") today announced that it has entered into a binding subscription agreement and has closed its subscription for 10.0 million common shares of Macusani Yellowcake Inc. (TSX VENTURE:YEL) ("Macusani") at a subscription price of Cdn.$0.20 per share. The subscription was part of a larger private placement, announced today by Macusani, of 14.15 million Macusani common shares for aggregate proceeds of Cdn.$2.83 million. Macusani now has approximately 55.9 million common shares outstanding (70.0 million on a fully-diluted basis), providing Khan with an ownership interest of approximately 17.9% of the outstanding Macusani common shares (on a non-diluted basis). Under separate agreement, Khan will have the right to maintain its pro rata ownership of Macusani in certain subsequent treasury issues for a period of 2 1/2 years.
This transaction is unrelated to the announcement on November 27 that Atomredmetzoloto JSC ("ARMZ") intends to make an unsolicited offer to purchase all of the outstanding shares of Khan. The negotiations with Macusani have been underway for some time, and, coincidentally, the subscription was expected to close on November 27 but the closing was delayed until today as certain closing conditions not within Khan's control were not met until today. Khan's Board of Directors considered its obligations under the subscription agreement in light of the unexpected ARMZ announcement and determined that it remained in the best interests of Khan to proceed with the Macusani investment at this time.
Khan has acquired the Macusani shares for investment purposes and does not presently have any further intention to acquire ownership of, or control over, any additional securities of Macusani, subject to its pre-emptive right to acquire additional Macusani shares to maintain its 17.9% ownership level in certain circumstances. A copy of Khan's early warning report relating to the private placement and prepared in accordance with National Instrument 62-103 will be filed on SEDAR at www.sedar.com and may be obtained by contacting 416.360.3405 416.360.3405.
Macusani controls over 20,000 hectares (2,000 km2) of land located on the Macusani Plateau in the Puno District of southern Peru, which include several significant advanced stage exploration properties. In December 2008, Macusani announced indicated resources of 1.3 million lbs of U3O8 at a grade of 0.37 lbs of U3O8 per short ton and inferred resources of 9.8 million lbs of U3O8 at a grade of 0.38 lbs per short ton on its Colibri II and Colibri III properties. In June 2009, Macusani acquired the Corapachi and Kihitian Concessions, two highly prospective properties on the Plateau where higher grade U3O8 has been identified. Khan understands that Macusani has conducted an exploration program on these properties subsequent to their acquisition and it is in the process of preparing a National Instrument 43-101 compliant resource estimate for these concessions.
Martin Quick, President and CEO of Khan stated "We are delighted to acquire this position in Macusani and be able to participate in what looks to be an exciting new major uranium district that hosts substantial amounts of near surface uranium amenable to low cost mining and milling techniques. This investment in Macusani represents a further step in fulfilling Khan's growth objectives." Mr. Quick added that "It is unfortunate that the prospective value associated with Khan's newly acquired interest in Macusani is somewhat overshadowed by the unsolicited offer that was announced by ARMZ, however, Khan was bound to proceed with the Macusani private placement notwithstanding the ARMZ offer and believes that its ownership in Macusani has the prospect of generating value for Khan shareholders in the long-term. We intend to give the ARMZ offer due consideration and will continue our efforts to identify value-enhancing opportunities for our shareholders. We will advise shareholders of the Board's position once a review of ARMZ's proposed formal offer and the terms and conditions of any such offer have been made publicly available."
Forward-Looking Statements and Information
This press release may contain forward-looking statements and forward-looking information, which are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are characterized by words such as "will", "plan", "expect", "project", "intend", "believe", "anticipate", "forecast", "schedule", "estimate" and similar expressions, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements and information are not historical facts and are based upon a number of estimates and assumptions and are inherently subject to significant business, social, economic, political, competitive and other risks and uncertainties, contingencies and other factors, including the impact of Mongolian and Canadian laws and regulatory requirements on ARMZ's proposed transaction and Khan's licenses, operations and capital structure, Khan's ability to re-register its existing licenses, political instability and obtaining governmental approvals, legislative, political, social and economic developments or changes in jurisdictions in which Khan, ARMZ and Macusani carry on business, the speculative nature of exploration and development, risks involved in the exploration, development and mining business, changes in market conditions, changes or disruptions in the securities markets and market fluctuations in prices for Khan securities, risks relating to the ARMZ offer not being formally commenced or not being made on terms and conditions acceptable to Khan, the lack of any alternative transactions, the terms and conditions of any alternative transactions not being acceptable, and uncertainty in the estimation of mineral reserves and resources. In addition, a number of other factors could cause actual results to differ materially from the results discussed in such statements and information, and there is no assurance that actual results will be consistent with them. For further details, reference is made to the risk factors discussed or referred to in Khan's annual and interim management's discussion and analyses and Annual Information Form on file with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Such forward-looking statements and information are made or given as at the date of this news release, and Khan assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law. For information concerning specific risks or uncertainties related to Macusani, reference should be made to Macusani's continuous disclosure documents available on SEDAR at www.sedar.com.
Khan Resources Inc. (TSX:KRI) is a Canadian company engaged in the acquisition, exploration and development of uranium properties. Its current activities are focused on the Dornod area in northeastern Mongolia, the site of a former Russian open-pit uranium mine. Khan holds interests in the Main Dornod Property, licensed for mining, and in the Additional Dornod Property, licensed for exploration. The Company's website is www.khanresources.com.
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
Sunday, November 29, 2009
Century Mining (CMM: TSX-V) Announces C$4,000,000 Flow-Through Financing
Century Mining Announces C$4,000,000 Flow-Through Financing
Nov 26, - Century Mining Corporation (CMM: TSX-V) today announced that, subject to regulatory approval, it will complete a non-brokered private placement of up to C$4,000,000 comprised of units consisting of one common share issued on a flow-through basis and one half of a common share purchase warrant exercisable at a price of $0.30 for 18 months from the date of closing.
The Company will issue 20,000,000 units at an issue price of $0.20 per unit. The proceeds from this offering will be used for the underground drilling of the Lamaque project in Val-d'Or, Quebec. This financing comprises a portion of the $21,000,000 private placement described in the Company's November 2, 2009 press release.
The Company will pay Oberon Capital Corporation for introducing subscribers to the Company a finder's fee of cash equal to 4% of the aggregate gross proceeds, and broker warrants equal to 4% of the aggregate number of flow-through shares. Each broker warrant shall be exercisable for 18 months from the date of issue and shall entitle the holder to purchase a common share of the Company for a price of $0.20. The flow-through share issuance is subject to approval by the TSX Venture Exchange. All of the securities issued under this private placement will be subject to a four-month hold period.
Margaret Kent, President and CEO of Century commented, "This financing is part of the $21 million private placement, the balance of which we expect to close in early December."
About Century Mining Corporation
Century Mining Corporation is a junior gold producer. The Company owns and is working towards the start up of the Lamaque mine in Québec that historically has produced over 9.2 million ounces of gold. In Peru, Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Total gold production for 2007 and 2008 was 63,124 and 14,252 ounces of gold, respectively.
"Margaret M. Kent"
Chairman, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Caution Concerning Forward-Looking Information
This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com.
While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
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.
Nov 26, - Century Mining Corporation (CMM: TSX-V) today announced that, subject to regulatory approval, it will complete a non-brokered private placement of up to C$4,000,000 comprised of units consisting of one common share issued on a flow-through basis and one half of a common share purchase warrant exercisable at a price of $0.30 for 18 months from the date of closing.
The Company will issue 20,000,000 units at an issue price of $0.20 per unit. The proceeds from this offering will be used for the underground drilling of the Lamaque project in Val-d'Or, Quebec. This financing comprises a portion of the $21,000,000 private placement described in the Company's November 2, 2009 press release.
The Company will pay Oberon Capital Corporation for introducing subscribers to the Company a finder's fee of cash equal to 4% of the aggregate gross proceeds, and broker warrants equal to 4% of the aggregate number of flow-through shares. Each broker warrant shall be exercisable for 18 months from the date of issue and shall entitle the holder to purchase a common share of the Company for a price of $0.20. The flow-through share issuance is subject to approval by the TSX Venture Exchange. All of the securities issued under this private placement will be subject to a four-month hold period.
Margaret Kent, President and CEO of Century commented, "This financing is part of the $21 million private placement, the balance of which we expect to close in early December."
About Century Mining Corporation
Century Mining Corporation is a junior gold producer. The Company owns and is working towards the start up of the Lamaque mine in Québec that historically has produced over 9.2 million ounces of gold. In Peru, Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Total gold production for 2007 and 2008 was 63,124 and 14,252 ounces of gold, respectively.
"Margaret M. Kent"
Chairman, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Caution Concerning Forward-Looking Information
This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com.
While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
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.
South American Silver Corp. Completes $2.78 Million Financing
South American Silver Corp. Completes $2.78 Million Financing
VANCOUVER, BRITISH COLUMBIA--- Nov. 27, 2009 - South American Silver Corp. (TSX:SAC) is pleased to report that it has closed a private placement financing for gross proceeds of $2,778,500 (the "Financing") through the issuance of 6,946,250 units (the "Units") at a price of $0.40 per Unit. The issuance of 6,946,250 Units today is part of a larger offering by the Company of up to 8,126,250 Units. Additional closings may occur up to December 10, 2009.
Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.60 per Common Share for a period of two years.
In connection with the Financing, the Company paid $132,000 in cash to certain brokers and issued an aggregate of 330,000 non-transferable broker warrants entitling the holder to subscribe for Units at a price of $0.40 per Unit for a period of 18 months.
The Company plans to use the net proceeds from the Financing to accelerate infill drilling and engineering work related to the Pre-feasibility study at its Malku Khota silver-indium deposit and for general corporate purposes.
Ralph Fitch, President and CEO of the Company, stated "This infusion of cash allows us to aggressively pursue the Pre-feasibility program while maintaining a strong treasury. We believe that we have a strong project as indicated in our previously released Preliminary Economic Assessment and look forward to moving the project closer to production through the Pre-feasibility process. This is an exciting stage in which we start to transform our substantial resource into a mine." (Indicated Resource: 145 million oz. of silver and 845 tonnes of indium plus an Inferred Resource of 178 million oz. of silver and 968 tonnes of indium)
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States of America (the "United States") or to or for the benefit of U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
SASC is a mineral exploration company that acquires, explores and develops mineral properties, primarily silver, gold and copper in South America. The Company presently holds interests in two material properties: the flagship Malku Khota silver-indium-gold property in Bolivia and the Escalones copper-gold-molybdenum property in Chile.
Certain statements in this press release constitute "forward-looking statements". These forward-looking statements include, but are not limited to, statements regarding the possibility of additional closings, the Pre-feasibility program, reported resource figures and the development of a mine on the Company's mineral properties. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the effect of capital market conditions and other factors on capital availability and the ability to complete additional closings; possible variations in mineral resources, grade or recovery rates, silver or indium prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; political, regulatory, environmental and other risks in the mining industry and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
The Company's Preliminary Economic Assessment Study includes inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Furthermore, there is no certainty that the results projected in the Preliminary Economic Assessment Study will be realized and actual results may vary substantially.
For more information, please contact
South American Silver Corp.Richard DoranExecutive Vice President (303) 512-0919 (303) 512-0919(303) 758-2063 (FAX)
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.
VANCOUVER, BRITISH COLUMBIA--- Nov. 27, 2009 - South American Silver Corp. (TSX:SAC) is pleased to report that it has closed a private placement financing for gross proceeds of $2,778,500 (the "Financing") through the issuance of 6,946,250 units (the "Units") at a price of $0.40 per Unit. The issuance of 6,946,250 Units today is part of a larger offering by the Company of up to 8,126,250 Units. Additional closings may occur up to December 10, 2009.
Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.60 per Common Share for a period of two years.
In connection with the Financing, the Company paid $132,000 in cash to certain brokers and issued an aggregate of 330,000 non-transferable broker warrants entitling the holder to subscribe for Units at a price of $0.40 per Unit for a period of 18 months.
The Company plans to use the net proceeds from the Financing to accelerate infill drilling and engineering work related to the Pre-feasibility study at its Malku Khota silver-indium deposit and for general corporate purposes.
Ralph Fitch, President and CEO of the Company, stated "This infusion of cash allows us to aggressively pursue the Pre-feasibility program while maintaining a strong treasury. We believe that we have a strong project as indicated in our previously released Preliminary Economic Assessment and look forward to moving the project closer to production through the Pre-feasibility process. This is an exciting stage in which we start to transform our substantial resource into a mine." (Indicated Resource: 145 million oz. of silver and 845 tonnes of indium plus an Inferred Resource of 178 million oz. of silver and 968 tonnes of indium)
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States of America (the "United States") or to or for the benefit of U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
SASC is a mineral exploration company that acquires, explores and develops mineral properties, primarily silver, gold and copper in South America. The Company presently holds interests in two material properties: the flagship Malku Khota silver-indium-gold property in Bolivia and the Escalones copper-gold-molybdenum property in Chile.
Certain statements in this press release constitute "forward-looking statements". These forward-looking statements include, but are not limited to, statements regarding the possibility of additional closings, the Pre-feasibility program, reported resource figures and the development of a mine on the Company's mineral properties. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the effect of capital market conditions and other factors on capital availability and the ability to complete additional closings; possible variations in mineral resources, grade or recovery rates, silver or indium prices, operating or capital costs; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; political, regulatory, environmental and other risks in the mining industry and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
The Company's Preliminary Economic Assessment Study includes inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Furthermore, there is no certainty that the results projected in the Preliminary Economic Assessment Study will be realized and actual results may vary substantially.
For more information, please contact
South American Silver Corp.Richard DoranExecutive Vice President (303) 512-0919 (303) 512-0919(303) 758-2063 (FAX)
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.
Killdeer Minerals Announces Financing With MineralFields Group
Killdeer Minerals Announces Financing With MineralFields Group
VANCOUVER, BRITISH COLUMBIA-- – Nov. 27, 2009 - Killdeer Minerals Inc. – (TSX VENTURE:KMI) is pleased to announce that it has negotiated a private placement (the "Financing") with MineralFields Group to raise gross proceeds of up to $750,000.
Under the terms of the Financing, the Company will issue 3,000,000 flow-through units (the "FT Units") at a price of $0.25 per FT Unit. Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of a transferable non flow-through common share purchase warrant ("Warrants"). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share during the first year and thereafter at $0.45 per share during the second year from the closing date of the Financing (the "Closing Date").
Provided that the Company's shares close on the TSX Venture Exchange at any time four months after their date of issue for twenty consecutive trading days at a price of $0.50 per share or higher during the first year of the exercise period and at a price of $0.65 per share or higher during the second year of the exercise period, the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the Warrant holder by way of registered mail, or thereafter the unexercised Warrant will be forfeited and terminated.
"We are very pleased to be commencing this relationship with MineralFields Group," said Mike Elson, President and CEO. "This is an important milestone in the growth of Killdeer and we look forward to working with MineralFields Group as we develop our holdings in Canada."
Limited Market Dealer Inc. will be paid a cash finder's fee of 6% of the funds raised, and issued a finder's fee option to acquire Units (the "Compensation Units") equal to 8% of the total number of FT Units sold, exercisable at $0.25 per Compensation Unit for a term of two years.
About MineralFields, Pathway and First Canadian Securities (R)
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).
KILLDEER MINERALS INC.
Mike Elson, President & Chief Executive Officer
Neither the 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 news release.
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 www.investorideas.com or the newsletter sign up page.
VANCOUVER, BRITISH COLUMBIA-- – Nov. 27, 2009 - Killdeer Minerals Inc. – (TSX VENTURE:KMI) is pleased to announce that it has negotiated a private placement (the "Financing") with MineralFields Group to raise gross proceeds of up to $750,000.
Under the terms of the Financing, the Company will issue 3,000,000 flow-through units (the "FT Units") at a price of $0.25 per FT Unit. Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of a transferable non flow-through common share purchase warrant ("Warrants"). Each whole Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share during the first year and thereafter at $0.45 per share during the second year from the closing date of the Financing (the "Closing Date").
Provided that the Company's shares close on the TSX Venture Exchange at any time four months after their date of issue for twenty consecutive trading days at a price of $0.50 per share or higher during the first year of the exercise period and at a price of $0.65 per share or higher during the second year of the exercise period, the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the Warrant holder by way of registered mail, or thereafter the unexercised Warrant will be forfeited and terminated.
"We are very pleased to be commencing this relationship with MineralFields Group," said Mike Elson, President and CEO. "This is an important milestone in the growth of Killdeer and we look forward to working with MineralFields Group as we develop our holdings in Canada."
Limited Market Dealer Inc. will be paid a cash finder's fee of 6% of the funds raised, and issued a finder's fee option to acquire Units (the "Compensation Units") equal to 8% of the total number of FT Units sold, exercisable at $0.25 per Compensation Unit for a term of two years.
About MineralFields, Pathway and First Canadian Securities (R)
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).
KILLDEER MINERALS INC.
Mike Elson, President & Chief Executive Officer
Neither the 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 news release.
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 www.investorideas.com or the newsletter sign up page.
Adriana Announces Update on Port Project and Its Iron Ore Project in Quebec
Adriana Announces Update on Port Project and Its Iron Ore Project in Quebec
TORONTO, ONTARIO--- Nov. 27, 2009 - Adriana Resources Inc. (TSX VENTURE:ADI) announces that it has received a notice from ArcelorMittal ("Arcelor") terminating the memorandum of understanding with the Company relating to Arcelor's participation in Adriana's iron ore port facility development project located in Sepetiba Bay, approximately 70 kilometers west of Rio de Janeiro in the State of Rio de Janeiro, Brazil. The Company recently announced that it has submitted a new permit application for a deep sea terminal port with a capacity of 45 million tonnes per year. Adriana will continue to develop strategic working relationships with parties to maximize the potential of the deep sea terminal port.
The Company also announces that it is continuing discussions with a major Chinese steel producer, further to the memorandum of understanding announced by the Company on July 24, 2009, for the potential development of Adriana's Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik Quebec (the "Property") containing a total of 4.29 million tonnes NI 43-101 indicated and 1.97 million tonnes NI 43-101 inferred resources. The Company is currently finalizing its proposed 2010 drilling program at the Property. Based on historical mapping and exploration drilling completed in the 1970s, the Company anticipates a significant increase in its mineral resources base for the Property as further drilling is completed.
ON BEHALF OF ADRIANA RESOURCES INC.
"Allen J. Palmiere"
President and CEO
Certain information regarding the Company, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, mining exploration and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward looking statements that involve various degrees of risk. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements including, without limitation, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information. 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 press release.
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.
TORONTO, ONTARIO--- Nov. 27, 2009 - Adriana Resources Inc. (TSX VENTURE:ADI) announces that it has received a notice from ArcelorMittal ("Arcelor") terminating the memorandum of understanding with the Company relating to Arcelor's participation in Adriana's iron ore port facility development project located in Sepetiba Bay, approximately 70 kilometers west of Rio de Janeiro in the State of Rio de Janeiro, Brazil. The Company recently announced that it has submitted a new permit application for a deep sea terminal port with a capacity of 45 million tonnes per year. Adriana will continue to develop strategic working relationships with parties to maximize the potential of the deep sea terminal port.
The Company also announces that it is continuing discussions with a major Chinese steel producer, further to the memorandum of understanding announced by the Company on July 24, 2009, for the potential development of Adriana's Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik Quebec (the "Property") containing a total of 4.29 million tonnes NI 43-101 indicated and 1.97 million tonnes NI 43-101 inferred resources. The Company is currently finalizing its proposed 2010 drilling program at the Property. Based on historical mapping and exploration drilling completed in the 1970s, the Company anticipates a significant increase in its mineral resources base for the Property as further drilling is completed.
ON BEHALF OF ADRIANA RESOURCES INC.
"Allen J. Palmiere"
President and CEO
Certain information regarding the Company, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, mining exploration and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward looking statements that involve various degrees of risk. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements including, without limitation, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information. 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 press release.
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.
Monday, November 23, 2009
How to invest in Gold Stocks and Mining Stocks
How to invest in Gold Stocks and Mining Stocks
Investorideas.com Gold Stocks and Mining Stocks Directory Now has close to 1000 stocks and Growing !
DELTA, BC – November 23, 2009, www.InvestorIdeas.com, and its mining stocks portals www.Gold-MiningStocks.com , www.MiningSectorStocks.com, announce research tools for investors searching for the next great gold and mining stock as gold prices reach historic highs.
Investorideas.com mining stocks directory currently features close to 1000 mining stocks for investors to research. The directory is also updated and growing regularly 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 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 www.investorideas.com or the newsletter sign up page.
About our Mining Portals:
www.Gold-MiningStocks.com and 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.
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 or info on how to become a showcase mining stock on our site or publish your mining stocks news
Investorideas.com Gold Stocks and Mining Stocks Directory Now has close to 1000 stocks and Growing !
DELTA, BC – November 23, 2009, www.InvestorIdeas.com, and its mining stocks portals www.Gold-MiningStocks.com , www.MiningSectorStocks.com, announce research tools for investors searching for the next great gold and mining stock as gold prices reach historic highs.
Investorideas.com mining stocks directory currently features close to 1000 mining stocks for investors to research. The directory is also updated and growing regularly 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 Stock Exchanges.
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Thursday, November 19, 2009
Lake Shore Gold (TSX:LSG) Announces Plans to Aggressively Advance Timmins Projects, Arranges $100 Million In Financing
TORONTO, ONTARIO-- - Nov. 19, 2009 – Lake Shore Gold Corp. (TSX:LSG) today announced an agreement with Hochschild Mining Holdings Ltd. ("Hochschild"), a wholly owned subsidiary of Hochschild Mining plc (LSE:HOC), to raise $85.0 million through a private placement transaction for 19.2 million shares at a price of $4.43 per share. In addition, the Company announced a non-brokered structured flow-through financing co-led by Wellington West Capital Markets Inc. and Canaccord Capital Corporation for the issuance of 2.7 million shares at an average price of $5.94 per share for net proceeds of $15.0 million.
Hochschild will, through the private placement, increase its interest in the Company to approximately 36% of the common shares (on a fully diluted basis) from the current level of approximately 32%. Under the terms of the Strategic Alliance Agreement, entered into as part of a financing completed in February 2008, Hochschild's ownership in Lake Shore Gold is limited to 40% of the outstanding common shares (on a fully diluted basis). The limitation under the Strategic Alliance Agreement expires on November 22, 2010.
Anthony (Tony) Makuch, President and CEO of Lake Shore Gold, commented: "Hochschild's additional investment in Lake Shore Gold, at a premium to market, is a strong endorsement of the quality of Lake Shore Gold's projects and the progress we are making. We appreciate Hochschild's ongoing support, which benefits all shareholders, and its continued commitment to the Strategic Alliance Agreement we signed early last year. Together, the two transactions announced today represent a blended 18% premium to yesterday's close. When compared to the expected price and costs related to a marketed transaction, the premium is approximately 30%.
"The funds being received from these transactions will support our plans to move all of our projects forward as aggressively as possible. We expect to produce 100,000 ounces of gold in 2010 and then to build production over the following three years to upwards of 350,000 ounces annually. Over the next 12 months, we will bring the Timmins Mine to commercial production, establish National Instrument 43-101 resources at Thunder Creek and the Bell Creek Complex, commence processing ore from the advanced exploration programs at Thunder Creek and the Bell Creek Complex and complete the expansion of the Bell Creek Mill to 3,000 tonnes per day. We also plan to significantly increase our exploration spending to $29 million with a focus on our Timmins West properties, including the Timmins Mine, Thunder Creek and additional targets acquired through the recently completed business combination with West Timmins Mining, as well as our Bell Creek Complex properties, including a large land position we have agreed to acquire from Goldcorp."
In addition to the $29 million of exploration spending in 2010, Lake Shore Gold also today announced that the Company is forecasting 2010 project spending of $134 million (before proceeds from anticipated gold sales). Of the project spending, new projects account for approximately $58 million, including $30 million for the expansion of the Bell Creek Mill in 2010 to 3,000 tonnes per day and $28 million for an underground advanced exploration program at Thunder Creek (see Figure 1.), which commenced earlier this month. The remaining $76 million relates to continued progress at the Bell Creek Complex and work to advance the Timmins Mine to commercial production, which the Company expects to achieve in the fourth quarter of 2010.
Both transactions announced today are subject to final documentation as well as to TSX and other customary regulatory approvals. The funds raised from the issuance of the flow-through shares shall be used for general exploration expenditures, which will constitute Canadian Exploration Expenditures ("CEE") as defined in the Income Tax Act. Finder's fees will be payable to certain parties, including Wellington West Capital Markets Inc. and Canaccord Capital Corporation, in relation to the offering of flow-through shares.
About Lake Shore Gold
Lake Shore Gold is a rapidly growing mining company with large land positions on the west and east-sides of the Timmins gold mining camp. The Company is currently carrying out an underground advanced exploration program at its 100%-owned Timmins Mine project, where it has both a shaft and a ramp, and is commencing advanced exploration at the adjacent Thunder Creek property. The Bell Creek Mill, located on the east side of Timmins, has been refurbished to a capacity of 1,500 tonnes per day. The Company is also making progress with an underground advanced exploration program at its Bell Creek Complex, including the Bell Creek Mine, Schumacher and Vogel properties, which is moving forward to become the Company's second mining operation in the Timmins Camp. The Company continues to invest aggressively in exploration primarily in Timmins and in select other areas of Northern Ontario and Quebec, and owns a large land position in Mexico. The Company's common shares trade on the TSX under the symbol LSG.
Forward-looking Statements
Certain statements in this press release relating to the Company's exploration activities, project expenditures, business plans, financing initiatives and financial and operating performance are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will not be less than identified mineral reserves. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements 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 the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Lake Shore Gold's most recent Annual Information Form and other regulatory filings which are posted on SEDAR at www.sedar.com.
For more information, please contact
Lake Shore Gold Corp.Tony MakuchPresident & CEO (416) 703-6298 (416) 703-6298Email: info@lsgold.com
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 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.
Hochschild will, through the private placement, increase its interest in the Company to approximately 36% of the common shares (on a fully diluted basis) from the current level of approximately 32%. Under the terms of the Strategic Alliance Agreement, entered into as part of a financing completed in February 2008, Hochschild's ownership in Lake Shore Gold is limited to 40% of the outstanding common shares (on a fully diluted basis). The limitation under the Strategic Alliance Agreement expires on November 22, 2010.
Anthony (Tony) Makuch, President and CEO of Lake Shore Gold, commented: "Hochschild's additional investment in Lake Shore Gold, at a premium to market, is a strong endorsement of the quality of Lake Shore Gold's projects and the progress we are making. We appreciate Hochschild's ongoing support, which benefits all shareholders, and its continued commitment to the Strategic Alliance Agreement we signed early last year. Together, the two transactions announced today represent a blended 18% premium to yesterday's close. When compared to the expected price and costs related to a marketed transaction, the premium is approximately 30%.
"The funds being received from these transactions will support our plans to move all of our projects forward as aggressively as possible. We expect to produce 100,000 ounces of gold in 2010 and then to build production over the following three years to upwards of 350,000 ounces annually. Over the next 12 months, we will bring the Timmins Mine to commercial production, establish National Instrument 43-101 resources at Thunder Creek and the Bell Creek Complex, commence processing ore from the advanced exploration programs at Thunder Creek and the Bell Creek Complex and complete the expansion of the Bell Creek Mill to 3,000 tonnes per day. We also plan to significantly increase our exploration spending to $29 million with a focus on our Timmins West properties, including the Timmins Mine, Thunder Creek and additional targets acquired through the recently completed business combination with West Timmins Mining, as well as our Bell Creek Complex properties, including a large land position we have agreed to acquire from Goldcorp."
In addition to the $29 million of exploration spending in 2010, Lake Shore Gold also today announced that the Company is forecasting 2010 project spending of $134 million (before proceeds from anticipated gold sales). Of the project spending, new projects account for approximately $58 million, including $30 million for the expansion of the Bell Creek Mill in 2010 to 3,000 tonnes per day and $28 million for an underground advanced exploration program at Thunder Creek (see Figure 1.), which commenced earlier this month. The remaining $76 million relates to continued progress at the Bell Creek Complex and work to advance the Timmins Mine to commercial production, which the Company expects to achieve in the fourth quarter of 2010.
Both transactions announced today are subject to final documentation as well as to TSX and other customary regulatory approvals. The funds raised from the issuance of the flow-through shares shall be used for general exploration expenditures, which will constitute Canadian Exploration Expenditures ("CEE") as defined in the Income Tax Act. Finder's fees will be payable to certain parties, including Wellington West Capital Markets Inc. and Canaccord Capital Corporation, in relation to the offering of flow-through shares.
About Lake Shore Gold
Lake Shore Gold is a rapidly growing mining company with large land positions on the west and east-sides of the Timmins gold mining camp. The Company is currently carrying out an underground advanced exploration program at its 100%-owned Timmins Mine project, where it has both a shaft and a ramp, and is commencing advanced exploration at the adjacent Thunder Creek property. The Bell Creek Mill, located on the east side of Timmins, has been refurbished to a capacity of 1,500 tonnes per day. The Company is also making progress with an underground advanced exploration program at its Bell Creek Complex, including the Bell Creek Mine, Schumacher and Vogel properties, which is moving forward to become the Company's second mining operation in the Timmins Camp. The Company continues to invest aggressively in exploration primarily in Timmins and in select other areas of Northern Ontario and Quebec, and owns a large land position in Mexico. The Company's common shares trade on the TSX under the symbol LSG.
Forward-looking Statements
Certain statements in this press release relating to the Company's exploration activities, project expenditures, business plans, financing initiatives and financial and operating performance are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will not be less than identified mineral reserves. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements 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 the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Lake Shore Gold's most recent Annual Information Form and other regulatory filings which are posted on SEDAR at www.sedar.com.
For more information, please contact
Lake Shore Gold Corp.Tony MakuchPresident & CEO (416) 703-6298 (416) 703-6298Email: info@lsgold.com
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 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.
Tuesday, November 17, 2009
Legend International Holdings Inc. Announces Strategic Alliance With Wengfu Group Co. Ltd, One of the Largest Fertilizer Producers in China
Legend International Holdings Inc. Announces Strategic Alliance With Wengfu Group Co. Ltd, One of the Largest Fertilizer Producers in China
Legend International Holdings, Inc (OTCBB:LGDI) is pleased to announce the forming of a strategic alliance with Wengfu Group Co. Ltd (Wengfu) for the development of its phosphate mine, a beneficiation plant and a phosphoric acid plant in the Mt Isa region, Queensland, Australia.
Wengfu is the one of the largest phosphate fertilizer producers in China, and has developed two phosphatemines in Guizhou Province and beneficiation, fertilizer and chemical plants in Guizhou, Gansu and Sichuan Provinces, China. Wengfu produces over 2.5 million tonnes of finished fertilizer products. Wengfu also has a large research and development arm which has enabled Wengfu to produce many speciality phosphate chemical products. Wengfu has a large global network in the phosphate fertilizer industry and exports fertilizer to over twenty countries worldwide including Australia and New Zealand
.Wengfu is currently contracted to provide engineering, procurement and construction services for the large phosphate fertilizer Ma'aden Beneficiation Project in Saudi Arabia which is due for completion in 2010.
Legend and Wengfu have agreed to work together on the feasibility study initially for the mining and beneficiation of phosphate rock at Legend's Georgina Basin Phosphate Project in Queensland, Australia. Pending a positive feasibility study, Wengfu and Legend will also investigate the production of speciality phosphate products derived from phosphoric acid manufacture.
After completion of a positive feasibility study for the mining and beneficiation, Wengfu will become an equity partner with Legend to strengthen the alliance and share in the benefits of successful development of all stages of the project including the production of specialty phosphate chemical products.
Legend strongly believes that Wengfu's experience in all aspects of phosphate rock mining, beneficiation, phosphoric acid production, specialty phosphate chemical production, global marketing strategy and financial capability, combined with Legend's quality phosphate rock assets and management team, makes an excellent partnership to ensure the successful development of the project.
The strategic alliance with Wengfu will further advance the phosphate project beyond its initial phase of mining and shipping unbeneficiated phosphate rock pursuant to its existing alliance with IFFCO.
BackgroundLegend is led by Joseph Gutnick, a prominent Australian mining industry entrepreneur, who has overseen some of Australia's largest and most prestigious resource discoveries.Legend's primary focus is the development of its phosphate interests in the Georgina Basin, Queensland, Australia including Paradise (formerly Lady Annie and Lady Jane), D-Tree, Thorntonia, Lily Creek, Quita Creek, Sherrin Creek and Highland Plains.Legend plans to produce an average of 5 million tonnes per year of phosphate rock concentrate of 30%+ P2O5 by 2012, thus becoming one of the world's leading producers of phosphate rock.More information on Legend is available at www.lgdi.net/ : .
Forward-Looking StatementsForward-looking statements in this press release are made pursuant to the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risks of exploration and development stage projects, risks associated wi th environmental and other regulatory matters, mining risks and competition and the volatility of mineral prices. Actual results and timetables could vary significantly. Additional information about these and other factors that could affect the Company's business is set forth in the Company's fiscal 2008 Annual Report on Form 10-K/A and other filings with the Securities and Exchange Commission.
Legend International Holdings IncMr. Joseph Gutnick,+61-3-8532-2866President & Chief Executive OfficerFax:+61-3-8532-2805 josephg@axisc.com.au : mailto:josephg@axisc.com.au orLegendInternational Holdings IncGeneral Manager BusinessNew YorkOfficeTel: 212-223-0018Fax: 212-223-1169 legendinfo@axisc.com.au : mailto:legendinfo@axisc.com.au
*news published on investor ideas new Mining RSS newswire
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 Stock Exchanges.
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 www.investorideas.com or the newsletter sign up page. Mining and metals investors can research gold and mining stocks with the mining
Legend International Holdings, Inc (OTCBB:LGDI) is pleased to announce the forming of a strategic alliance with Wengfu Group Co. Ltd (Wengfu) for the development of its phosphate mine, a beneficiation plant and a phosphoric acid plant in the Mt Isa region, Queensland, Australia.
Wengfu is the one of the largest phosphate fertilizer producers in China, and has developed two phosphatemines in Guizhou Province and beneficiation, fertilizer and chemical plants in Guizhou, Gansu and Sichuan Provinces, China. Wengfu produces over 2.5 million tonnes of finished fertilizer products. Wengfu also has a large research and development arm which has enabled Wengfu to produce many speciality phosphate chemical products. Wengfu has a large global network in the phosphate fertilizer industry and exports fertilizer to over twenty countries worldwide including Australia and New Zealand
.Wengfu is currently contracted to provide engineering, procurement and construction services for the large phosphate fertilizer Ma'aden Beneficiation Project in Saudi Arabia which is due for completion in 2010.
Legend and Wengfu have agreed to work together on the feasibility study initially for the mining and beneficiation of phosphate rock at Legend's Georgina Basin Phosphate Project in Queensland, Australia. Pending a positive feasibility study, Wengfu and Legend will also investigate the production of speciality phosphate products derived from phosphoric acid manufacture.
After completion of a positive feasibility study for the mining and beneficiation, Wengfu will become an equity partner with Legend to strengthen the alliance and share in the benefits of successful development of all stages of the project including the production of specialty phosphate chemical products.
Legend strongly believes that Wengfu's experience in all aspects of phosphate rock mining, beneficiation, phosphoric acid production, specialty phosphate chemical production, global marketing strategy and financial capability, combined with Legend's quality phosphate rock assets and management team, makes an excellent partnership to ensure the successful development of the project.
The strategic alliance with Wengfu will further advance the phosphate project beyond its initial phase of mining and shipping unbeneficiated phosphate rock pursuant to its existing alliance with IFFCO.
BackgroundLegend is led by Joseph Gutnick, a prominent Australian mining industry entrepreneur, who has overseen some of Australia's largest and most prestigious resource discoveries.Legend's primary focus is the development of its phosphate interests in the Georgina Basin, Queensland, Australia including Paradise (formerly Lady Annie and Lady Jane), D-Tree, Thorntonia, Lily Creek, Quita Creek, Sherrin Creek and Highland Plains.Legend plans to produce an average of 5 million tonnes per year of phosphate rock concentrate of 30%+ P2O5 by 2012, thus becoming one of the world's leading producers of phosphate rock.More information on Legend is available at www.lgdi.net/ : .
Forward-Looking StatementsForward-looking statements in this press release are made pursuant to the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risks of exploration and development stage projects, risks associated wi th environmental and other regulatory matters, mining risks and competition and the volatility of mineral prices. Actual results and timetables could vary significantly. Additional information about these and other factors that could affect the Company's business is set forth in the Company's fiscal 2008 Annual Report on Form 10-K/A and other filings with the Securities and Exchange Commission.
Legend International Holdings IncMr. Joseph Gutnick,+61-3-8532-2866President & Chief Executive OfficerFax:+61-3-8532-2805 josephg@axisc.com.au : mailto:josephg@axisc.com.au orLegendInternational Holdings IncGeneral Manager BusinessNew YorkOfficeTel: 212-223-0018Fax: 212-223-1169 legendinfo@axisc.com.au : mailto:legendinfo@axisc.com.au
*news published on investor ideas new Mining RSS newswire
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 Stock Exchanges.
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 www.investorideas.com or the newsletter sign up page. Mining and metals investors can research gold and mining stocks with the mining
Monday, November 16, 2009
VAN ECK LAUNCHES MARKET VECTORS™JUNIOR GOLD MINERS ETF (GDXJ)
VAN ECK LAUNCHES MARKET VECTORS™JUNIOR GOLD MINERS ETF (GDXJ)
Focuses on small- and mid-cap companies. Many are early-stage minersdeveloping new gold deposits and new approaches to prospecting.
NEW YORK, (– New York-based asset manager Van Eck Global recently launched Market Vectors™ Junior Gold Miners ETF (ticker: GDXJ) on NYSE Arca.GDXJ is the first Exchange-Traded Fund (ETF) in the country to provide investors with concentrated access to “juniors”—small- and mid-cap mining companies which generally represent a dynamic subset of the global gold-mining industry as many are companies actively engaged in developing new sources of gold either through greenfields exploration or use of new geologic models to prospect for gold in overlooked or abandoned properties.
“Junior miners represent an early stage opportunity similar to a venture capital investment, the potential exists for high growth, but significant risks exist as well,” said Jan van Eck, Principal at Van Eck Global. “At a time when global gold production has been dropping while demand has been on the rise, nimble young companies with attractive projects are potentially both a key source of new gold production and attractive takeover targets for more established players in the field.”As they are typically early–stage companies, there are several risks associated with investing in junior miners. Many juniors operated at a loss in 2008 and approximately a third of the companies in the Fund’s underlying index had negative cash flow on a trailing 12-month basis as of June 30, 2009. Juniors are particularly vulnerable to the price trend of gold as a drop in gold prices could affect their profitability as well as their ability to secure financing to develop new and existing properties, among other things.
GDXJ seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors™ Junior Gold Miners Index (ticker: MVGDXJ), a rules-based, modified market cap-weighted, float-adjusted index comprised of a global universe of publicly traded small- and mid-capitalization companies that generate at least 50% of their revenues from gold or silver mining. The Fund carries a gross expense ratio of 0.68% and a net expense ratio of 0.60%.Van Eck Launches Junior Miners ETF 2
As of September 30, 2009, the weighted average market capitalization of the index’s constituents was $850 million. As of the same date, the six countries in GDXJ’s underlying index by weighting were Canada (62.6%), United States (21.8%), Australia (11.2%), South Africa (2.4%), China (1.3%) and United Kingdom (0.7%).GDXJ joins its “big brother,” Market Vectors Gold Miners ETF (NYSE Arca: GDX), which seeks to track an index that focuses on the larger companies in the global gold-mining industry. As of September 30, 2009 the weighted average market capitalization of GDX’s constituents was $15.2 billion. GDX, which launched in 2006, has gathered more than $5 billion in assets and is one of the 100 largest ETFs in the United States as of September 30, 2009.
Van Eck Global has been a leader in commodity-related investment products and has been managing gold-related investments since 1968, when the firm launched the nation’s first actively managed gold fund, the Van Eck International Investors Gold Fund (INIVX). The Fund’s manager, Joe Foster, who currently allocates a portion of his portfolio to juniors, said “higher gold prices and new geologic models are helping bring new discoveries, many of which were made by junior-mining companies around the globe.”
“We believe the two key themes driving the gold market right now are gold as an alternative to paper currency and gold as a hedge against potential inflation,” said Foster. “While there have been no onerous levels of inflation so far in this gold cycle, firming commodities prices and the liquidity being created by current monetary policies could eventually bring much higher levels of inflation.”
In addition to the two gold-mining ETFs, Van Eck Global also offers other Market Vectors ETFs focused on hard assets, emerging markets, and municipal bonds. Market Vectors ETFs had a total of approximately $9.7 billion in assets under management as of September 30, 2009, making Van Eck the 6th largest provider of ETFs in the U.S.
About Van Eck GlobalFounded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues this 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.
Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation’s first gold mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, municipal bonds and currency markets.Van Eck Global also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck Global’s investment products are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.Van Eck Launches Junior Miners ETF 3The Market Vectors Junior Gold Miners Index (the “Index”) is the exclusive property of 4asset-management GmbH, which has contracted with Structured Solutions AG to maintain and calculate the Index. Structured Solutions AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards 4asset-management GmbH, Structured Solutions AG has no obligation to point out errors in the Index to third parties.The Market Vectors Junior Gold Miners ETF is not sponsored, endorsed, sold or promoted by 4asset-management GmbH and 4asset-management GmbH makes no representation regarding the advisability of investing in the Fund.Gold- and silver-related investments are subject to risks including bullion price volatility, changes in world political developments, competitive pressures and risks associated with foreign investments. In times of stable economic growth, the value of gold, silver and other precious metals may be adversely affected. Mining companies are subject to elevated risks, which include, among others, competitive pressures, commodity and currency price fluctuations, and adverse governmental or environmental regulations. In particular, small- and mid-cap mining companies may be subject to additional risks including inability to commence production and generate material revenues, significant expenditures and inability to secure financing, which may cause such companies to operate at a loss, greater volatility, lower trading volume and less liquidity than larger companies. Investors should be willing to accept a high degree of volatility and the potential of significant loss. The Fund may loan its securities, which may subject it to additional credit and counterparty risk.Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. To obtain a prospectus, which contains this and other information, call 1.888.MKT.VCTR or visit vaneck.com/gdxj. Please read the prospectus carefully before investing.Van Eck Securities Corporation, Distributor, 335 Madison Avenue, New York, NY 10017
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 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.
Focuses on small- and mid-cap companies. Many are early-stage minersdeveloping new gold deposits and new approaches to prospecting.
NEW YORK, (– New York-based asset manager Van Eck Global recently launched Market Vectors™ Junior Gold Miners ETF (ticker: GDXJ) on NYSE Arca.GDXJ is the first Exchange-Traded Fund (ETF) in the country to provide investors with concentrated access to “juniors”—small- and mid-cap mining companies which generally represent a dynamic subset of the global gold-mining industry as many are companies actively engaged in developing new sources of gold either through greenfields exploration or use of new geologic models to prospect for gold in overlooked or abandoned properties.
“Junior miners represent an early stage opportunity similar to a venture capital investment, the potential exists for high growth, but significant risks exist as well,” said Jan van Eck, Principal at Van Eck Global. “At a time when global gold production has been dropping while demand has been on the rise, nimble young companies with attractive projects are potentially both a key source of new gold production and attractive takeover targets for more established players in the field.”As they are typically early–stage companies, there are several risks associated with investing in junior miners. Many juniors operated at a loss in 2008 and approximately a third of the companies in the Fund’s underlying index had negative cash flow on a trailing 12-month basis as of June 30, 2009. Juniors are particularly vulnerable to the price trend of gold as a drop in gold prices could affect their profitability as well as their ability to secure financing to develop new and existing properties, among other things.
GDXJ seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors™ Junior Gold Miners Index (ticker: MVGDXJ), a rules-based, modified market cap-weighted, float-adjusted index comprised of a global universe of publicly traded small- and mid-capitalization companies that generate at least 50% of their revenues from gold or silver mining. The Fund carries a gross expense ratio of 0.68% and a net expense ratio of 0.60%.Van Eck Launches Junior Miners ETF 2
As of September 30, 2009, the weighted average market capitalization of the index’s constituents was $850 million. As of the same date, the six countries in GDXJ’s underlying index by weighting were Canada (62.6%), United States (21.8%), Australia (11.2%), South Africa (2.4%), China (1.3%) and United Kingdom (0.7%).GDXJ joins its “big brother,” Market Vectors Gold Miners ETF (NYSE Arca: GDX), which seeks to track an index that focuses on the larger companies in the global gold-mining industry. As of September 30, 2009 the weighted average market capitalization of GDX’s constituents was $15.2 billion. GDX, which launched in 2006, has gathered more than $5 billion in assets and is one of the 100 largest ETFs in the United States as of September 30, 2009.
Van Eck Global has been a leader in commodity-related investment products and has been managing gold-related investments since 1968, when the firm launched the nation’s first actively managed gold fund, the Van Eck International Investors Gold Fund (INIVX). The Fund’s manager, Joe Foster, who currently allocates a portion of his portfolio to juniors, said “higher gold prices and new geologic models are helping bring new discoveries, many of which were made by junior-mining companies around the globe.”
“We believe the two key themes driving the gold market right now are gold as an alternative to paper currency and gold as a hedge against potential inflation,” said Foster. “While there have been no onerous levels of inflation so far in this gold cycle, firming commodities prices and the liquidity being created by current monetary policies could eventually bring much higher levels of inflation.”
In addition to the two gold-mining ETFs, Van Eck Global also offers other Market Vectors ETFs focused on hard assets, emerging markets, and municipal bonds. Market Vectors ETFs had a total of approximately $9.7 billion in assets under management as of September 30, 2009, making Van Eck the 6th largest provider of ETFs in the U.S.
About Van Eck GlobalFounded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues this 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.
Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation’s first gold mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, municipal bonds and currency markets.Van Eck Global also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck Global’s investment products are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.Van Eck Launches Junior Miners ETF 3The Market Vectors Junior Gold Miners Index (the “Index”) is the exclusive property of 4asset-management GmbH, which has contracted with Structured Solutions AG to maintain and calculate the Index. Structured Solutions AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards 4asset-management GmbH, Structured Solutions AG has no obligation to point out errors in the Index to third parties.The Market Vectors Junior Gold Miners ETF is not sponsored, endorsed, sold or promoted by 4asset-management GmbH and 4asset-management GmbH makes no representation regarding the advisability of investing in the Fund.Gold- and silver-related investments are subject to risks including bullion price volatility, changes in world political developments, competitive pressures and risks associated with foreign investments. In times of stable economic growth, the value of gold, silver and other precious metals may be adversely affected. Mining companies are subject to elevated risks, which include, among others, competitive pressures, commodity and currency price fluctuations, and adverse governmental or environmental regulations. In particular, small- and mid-cap mining companies may be subject to additional risks including inability to commence production and generate material revenues, significant expenditures and inability to secure financing, which may cause such companies to operate at a loss, greater volatility, lower trading volume and less liquidity than larger companies. Investors should be willing to accept a high degree of volatility and the potential of significant loss. The Fund may loan its securities, which may subject it to additional credit and counterparty risk.Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. To obtain a prospectus, which contains this and other information, call 1.888.MKT.VCTR or visit vaneck.com/gdxj. Please read the prospectus carefully before investing.Van Eck Securities Corporation, Distributor, 335 Madison Avenue, New York, NY 10017
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Goldcorp Inc (TSX:G)(NYSE:GG) to Acquire Canplats (TSX.V:CPQ)
Goldcorp Inc (TSX:G)(NYSE:GG) to Acquire Canplats (TSX.V:CPQ)
VANCOUVER, BRITISH COLUMBIA--- Nov. 16, 2009 - Canplats Resources Corporation (TSX VENTURE:CPQ) today announced an agreement whereby Goldcorp Inc. (TSX:G)(NYSE:GG) will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares (the "Shares") of Canplats for total consideration of approximately C$238 million based on the fully diluted in-the-money Shares outstanding.
Under the Arrangement, each Share, including shares issued under the Arrangement on the acquisition by Goldcorp of the outstanding Canplats' options and warrants for their in-the-money value, will be exchanged for 0.074 of a common share of Goldcorp (the "Exchange Ratio") implying a price of approximately C$3.42 per Share based on the closing price of the Goldcorp shares on November 13, 2009. Shareholders will also receive a 90.1% interest in a new exploration company ("Newco") with a notional value of C$0.18 per Share, representing a combined value of approximately C$3.60 per Share to Canplats' shareholders. This represents a premium of approximately 41% over the closing price of the Shares on Friday, November 13, 2009.
Upon closing, Goldcorp will assume ownership of Canplats' Camino Rojo Project, located approximately 50 kilometres southeast of Goldcorp's Penasquito mine. Camino Rojo's 3,389-square kilometre land position includes the Represa deposit, which has reported measured and indicated resources of 3,445,000 gold ounces and 60,708,000 silver ounces with inferred resources of 555,000 ounces of gold and 7,612,000 ounces of silver (see Table 1 to follow).
As part of the Arrangement, a new exploration company will be created and 90.1% of its shares will be distributed to Canplats' shareholders. Newco will hold cash in the amount of C$10 million and Canplats' existing interests in a number of precious and base metal projects located in Mexico, being the Rodeo and El Rincon properties, located in Durango, and the Mecatona, Maijoma and El Alamo properties, located in Chihuahua, through a newly-incorporated, wholly-owned Mexican subsidiary. All of the shares of Newco (other than a 9.9% equity interest to be retained by Goldcorp) will be distributed to Canplats' shareholders pursuant to the Arrangement.
"We are extremely pleased to have reached an agreement with one of the world's largest and most respected gold producers," said Gordon Davis, Canplats' CEO and Chairman. "The agreement provides our shareholders with immediate value and the prospect for future gains through a newly-incorporated company that will have C$10 million in the treasury, an exciting portfolio of precious and base metal projects in Mexico, and a significant and strategic shareholder, Goldcorp."
The acquisition of Canplats by Goldcorp is expected to be completed by way of a court approved plan of arrangement whereby each Share will be exchanged for 0.074 of a common share of Goldcorp and a fraction of a share of Newco. The number of Goldcorp shares to be issued will be approximately 4.3 million based on the issued and outstanding Shares as of the announcement date, but will be subject to adjustment depending on the aggregate in-the-money value of the Canplats' options and warrants at the time that the Arrangement is completed. The transaction is expected to close in January 2010. Closing of the transaction is subject to customary conditions, including approval by Canplats' security holders and the receipt of court and necessary regulatory approvals.
The Arrangement has been approved by the boards of directors of Goldcorp and Canplats and will be subject to, among other things, the favourable vote of 66 2/3% of the holders of Canplats' common shares, options and warrants voting as a single class at a special meeting of Canplats' security holders called to approve the transaction. Officers and directors of Canplats have entered into lock-up and support arrangements with Goldcorp under which they have agreed to vote in favour of the transaction, such shares, options and warrants, representing approximately 6.6% of Canplats' outstanding shares, options and warrants. Genuity Capital Markets, Canplats' financial advisor, and Salman Partners, the financial advisor to the special committee of the board of directors of Canplats (the "Special Committee"), have provided oral opinions to Canplats' board of directors and the Special Committee, respectively, that the consideration under the Arrangement is fair, from a financial point of view, to Canplats' shareholders.
In the event that the transaction is not completed, Canplats has agreed to pay Goldcorp a termination fee of C$7.2 million, under certain circumstances. Canplats has also provided Goldcorp with certain other customary rights, including a right to match competing offers.
Canplats' financial advisor is Genuity Capital Markets; its legal advisors are Lawson Lundell LLP in Canada and Skadden, Arps, Slate, Meagher & Flom LLP in the United States. The Special Committee's financial advisor is Salman Partners; its legal advisor is Blake, Cassels & Graydon LLP. Goldcorp's financial advisor is GMP Securities L.P.; its legal advisors are Cassels Brock & Blackwell LLP in Canada and Neal, Gerber & Eisenberg LLP in the United States.
Canplats' security holders and other interested parties are advised to read the materials relating to the proposed transaction that will be filed with or furnished to securities regulatory authorities in Canada and the United States when they become available because they will contain important information. Anyone may obtain copies of these documents when available free of charge under Canplats' profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and from the United States Securities and Exchange Commission at its website at www.sec.gov. This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the Shares or a solicitation of a proxy.
Table 1: Represa Deposit Mineral Resource Summary (i)(ii)------------------------------------------------------------------------ Size Grade ----------------------------------- Gold Silver Tonnes Gold Silver Zinc Lead Ounces OuncesCategory (Millions) (g/t) (g/t) (%) (%) (000's) (000's)------------------------------------------------------------------------Measured 9.58 0.76 13.40 0.34 0.29 235 4,126------------------------------------------------------------------------Indicated 153.81 0.65 11.44 0.37 0.18 3,210 56,582------------------------------------------------------------------------Total M&I 163.39 0.66 11.56 0.37 0.19 3,445 60,708------------------------------------------------------------------------Inferred 31.03 0.56 7.63 0.31 0.10 555 7,612------------------------------------------------------------------------(i) Based upon a cut-off grade of 0.2 grams gold per tonne for oxide and transitional resources, with a cut-off grade of 0.3 grams gold per tonne for sulphide resources.(ii) Resources estimated by Mr. Douglas Blanchflower, P.Geo., of Minorex Consulting, an independent qualified person under NI 43-101, in a technical report dated January 5, 2009 and entitled "Technical Report on the Mineral Resources of the Camino Rojo Property."
To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director, Investor Relations, at info@canplats.com or (866) 338-0047 (866) 338-0047.
Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission and on SEDAR. The Company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
Neither the 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.
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VANCOUVER, BRITISH COLUMBIA--- Nov. 16, 2009 - Canplats Resources Corporation (TSX VENTURE:CPQ) today announced an agreement whereby Goldcorp Inc. (TSX:G)(NYSE:GG) will acquire, through a plan of arrangement (the "Arrangement"), all of the outstanding common shares (the "Shares") of Canplats for total consideration of approximately C$238 million based on the fully diluted in-the-money Shares outstanding.
Under the Arrangement, each Share, including shares issued under the Arrangement on the acquisition by Goldcorp of the outstanding Canplats' options and warrants for their in-the-money value, will be exchanged for 0.074 of a common share of Goldcorp (the "Exchange Ratio") implying a price of approximately C$3.42 per Share based on the closing price of the Goldcorp shares on November 13, 2009. Shareholders will also receive a 90.1% interest in a new exploration company ("Newco") with a notional value of C$0.18 per Share, representing a combined value of approximately C$3.60 per Share to Canplats' shareholders. This represents a premium of approximately 41% over the closing price of the Shares on Friday, November 13, 2009.
Upon closing, Goldcorp will assume ownership of Canplats' Camino Rojo Project, located approximately 50 kilometres southeast of Goldcorp's Penasquito mine. Camino Rojo's 3,389-square kilometre land position includes the Represa deposit, which has reported measured and indicated resources of 3,445,000 gold ounces and 60,708,000 silver ounces with inferred resources of 555,000 ounces of gold and 7,612,000 ounces of silver (see Table 1 to follow).
As part of the Arrangement, a new exploration company will be created and 90.1% of its shares will be distributed to Canplats' shareholders. Newco will hold cash in the amount of C$10 million and Canplats' existing interests in a number of precious and base metal projects located in Mexico, being the Rodeo and El Rincon properties, located in Durango, and the Mecatona, Maijoma and El Alamo properties, located in Chihuahua, through a newly-incorporated, wholly-owned Mexican subsidiary. All of the shares of Newco (other than a 9.9% equity interest to be retained by Goldcorp) will be distributed to Canplats' shareholders pursuant to the Arrangement.
"We are extremely pleased to have reached an agreement with one of the world's largest and most respected gold producers," said Gordon Davis, Canplats' CEO and Chairman. "The agreement provides our shareholders with immediate value and the prospect for future gains through a newly-incorporated company that will have C$10 million in the treasury, an exciting portfolio of precious and base metal projects in Mexico, and a significant and strategic shareholder, Goldcorp."
The acquisition of Canplats by Goldcorp is expected to be completed by way of a court approved plan of arrangement whereby each Share will be exchanged for 0.074 of a common share of Goldcorp and a fraction of a share of Newco. The number of Goldcorp shares to be issued will be approximately 4.3 million based on the issued and outstanding Shares as of the announcement date, but will be subject to adjustment depending on the aggregate in-the-money value of the Canplats' options and warrants at the time that the Arrangement is completed. The transaction is expected to close in January 2010. Closing of the transaction is subject to customary conditions, including approval by Canplats' security holders and the receipt of court and necessary regulatory approvals.
The Arrangement has been approved by the boards of directors of Goldcorp and Canplats and will be subject to, among other things, the favourable vote of 66 2/3% of the holders of Canplats' common shares, options and warrants voting as a single class at a special meeting of Canplats' security holders called to approve the transaction. Officers and directors of Canplats have entered into lock-up and support arrangements with Goldcorp under which they have agreed to vote in favour of the transaction, such shares, options and warrants, representing approximately 6.6% of Canplats' outstanding shares, options and warrants. Genuity Capital Markets, Canplats' financial advisor, and Salman Partners, the financial advisor to the special committee of the board of directors of Canplats (the "Special Committee"), have provided oral opinions to Canplats' board of directors and the Special Committee, respectively, that the consideration under the Arrangement is fair, from a financial point of view, to Canplats' shareholders.
In the event that the transaction is not completed, Canplats has agreed to pay Goldcorp a termination fee of C$7.2 million, under certain circumstances. Canplats has also provided Goldcorp with certain other customary rights, including a right to match competing offers.
Canplats' financial advisor is Genuity Capital Markets; its legal advisors are Lawson Lundell LLP in Canada and Skadden, Arps, Slate, Meagher & Flom LLP in the United States. The Special Committee's financial advisor is Salman Partners; its legal advisor is Blake, Cassels & Graydon LLP. Goldcorp's financial advisor is GMP Securities L.P.; its legal advisors are Cassels Brock & Blackwell LLP in Canada and Neal, Gerber & Eisenberg LLP in the United States.
Canplats' security holders and other interested parties are advised to read the materials relating to the proposed transaction that will be filed with or furnished to securities regulatory authorities in Canada and the United States when they become available because they will contain important information. Anyone may obtain copies of these documents when available free of charge under Canplats' profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and from the United States Securities and Exchange Commission at its website at www.sec.gov. This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the Shares or a solicitation of a proxy.
Table 1: Represa Deposit Mineral Resource Summary (i)(ii)------------------------------------------------------------------------ Size Grade ----------------------------------- Gold Silver Tonnes Gold Silver Zinc Lead Ounces OuncesCategory (Millions) (g/t) (g/t) (%) (%) (000's) (000's)------------------------------------------------------------------------Measured 9.58 0.76 13.40 0.34 0.29 235 4,126------------------------------------------------------------------------Indicated 153.81 0.65 11.44 0.37 0.18 3,210 56,582------------------------------------------------------------------------Total M&I 163.39 0.66 11.56 0.37 0.19 3,445 60,708------------------------------------------------------------------------Inferred 31.03 0.56 7.63 0.31 0.10 555 7,612------------------------------------------------------------------------(i) Based upon a cut-off grade of 0.2 grams gold per tonne for oxide and transitional resources, with a cut-off grade of 0.3 grams gold per tonne for sulphide resources.(ii) Resources estimated by Mr. Douglas Blanchflower, P.Geo., of Minorex Consulting, an independent qualified person under NI 43-101, in a technical report dated January 5, 2009 and entitled "Technical Report on the Mineral Resources of the Camino Rojo Property."
To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director, Investor Relations, at info@canplats.com or (866) 338-0047 (866) 338-0047.
Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission and on SEDAR. The Company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
Neither the 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.
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 Stock Exchanges.
Investors following mining stocks can purchase the directory in a PDF format with hyperlinks to stocks symbol(s), cMining 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 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. ompany’s URL and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
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