News 
Market Data 
Discover
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Aloro Mining closes $130,000 first tranche of financing
2023-05-09 15:50 ET - News Release
Mr. Thomas Doyle reports
ALORO ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
Aloro Mining Corp. has completed a first tranche of its previously announced non-brokered private placement, as described in its news release dated March 20, 2023, pursuant to which it has issued an aggregate of 2.6 million units at a price of five cents per unit for gross proceeds of $130,000. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant is exercisable into one additional share at a price of 15 cents per share for a period of two years from the closing date. The company has received an extension from the TSX Venture Exchange until May 18, 2023, to close a second tranche, which the company expects to close shortly.
The company intends to use the proceeds from the offering for exploration work, including drilling on its recently acquired Quitovac mine project, and for general working capital purposes.
The company paid a cash finder's fee of $7,350 and issued 147,000 broker warrants to one finder in connection with the offering. The broker warrants entitle the holder to purchase one additional share at a price of five cents for a period one year from the closing date.
The securities issued under the offering and the shares that may be issuable on exercise of the warrants and the broker warrants are subject to a statutory hold period expiring four months and one day from the date of closing.
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under a $5-million (U.S.) option agreement to Alamos Gold.
Aloro Mining signs formal documentation for Quitovac
2023-05-08 07:13 ET - News Release
Mr. Thomas Doyle reports
ALORO SIGNS THE FORMAL DOCUMENTATION IN MEXICO TO ACQUIRE THE HISTORIC QUITOVAC MINE PROJECT
Aloro Mining Corp., through its Mexican subsidiary, Exploraciones Aloro SA de CV, has signed the formal documentation, in Mexico, with Cuesta Del Cobre S De RL De CV of Hermosillo, Sonora, Mexico, to acquire 100 per cent of the Quitovac gold mine project.
The Mexican agreement has been signed by representatives of both Exploraciones and Cuesta Del Cobre, notarized, and will be filed with the Registro Publico de Mineria, Mining Public Registry. The agreement will govern the terms of the mining exploration and exploitation contract, and the mineral rights assignment contract. This agreement is defendable in accordance with Mexican laws.
The Quitovac gold mine project consists of 14 mineral concessions that cover 2,643.82 hectares of highly prospective geological units for gold mineralization. The Quitovac mineralized area is classified with the other orogenic shear zone gold deposits of the region, including the gold mines of Mesquite, La Choya (eight kilometres south), La Herradura (35 km south, produced over 425,288 ounces gold in 2020), San Francisco and El Chanate. All these gold deposits are similar in character and are stated to be part of the Mojave-Sonora megashear.
Thomas A. Doyle, president, chief executive officer, stated, "The filing of this agreement in Mexico strengthens Aloro's position with the Quitovac mine project."
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac mine project located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under $5-million (U.S.) option agreement to Alamos Gold.
Aloro Mining hires Quitovac project geologist
2023-04-03 06:39 ET - News Release
Mr. Thomas Doyle reports
ALORO CONTRACTS PROJECT GEOLOGIST FOR QUITOVAC
Aloro Mining Corp. has contracted Francisco A. Lopez as project geologist for the Quitovac gold mine project in Sonora, Mexico. Quitovac is located in the prolific Mojave-Sonora Megashear.
Francisco Antonio Lopez (Francisco) is a professional geologist and is a graduate of the University of Sonora. He has more than 30 years experience in the mining industry throughout Mexico.
Francisco is an exploration geologist with experience in all types of geological settings including low and high sulfidation of precious metals, skarns, copper porphyry, stratiform deposits, etc. in several states in Mexico. He has direct experience in the Mojave-Sonora Megashear with orogenic shear zone gold deposits of the region, like Quitovac, including the neighboring gold mine of La Choya (8kms south), where he worked 1986-1987 and again in 1992 for Cobre de Hercules (Anaconda Copper).
Francisco has technical knowledge of all stages of mining exploration including planning, execution, evaluation, logistics, approvals, environmental procedures, supervision and managing of personnel. He is also experienced in community relations and social environments.
Thomas A. Doyle, President, CEO, stated "We welcome Francisco to the Aloro geological team with his years of experience, proven track record in planning and execution of exploration programs to advance projects. Working in collaboration with Technical Advisor, Melvin A. Herdrick, he is a key part of assembling the exploration team for Quitovac. I look forward to updates on the advancement of the project."
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.
March 2023 Fact Sheet - https://aloromining.com/site/assets/files/5247/aloro_fact_sheet_march_2023v2.pdf
Aloro Mining Corp – TSXV: AORO | OTC: WLRMF | FWB: 4LPP
Price: $0.055 CAD - $0.015 USD – €0.024 EUR
Common Shares: 55.1 Million
Warrants: Nil
Options: 400,000 @ $0.10
Held By Management & Major Shareholders: 49%
All information found in the 2023 company presentation:
https://aloromining.com/site/assets/files/5248/aloro_mining_corp__presentation_march_2023v2.pdf
Company description:
Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados project is under a $5-million (U.S.) option agreement to Alamos Gold.
Quitovac was acquired after the third quarter results. Year end results are to be released end of April which will have more information regarding the asset. Los Venados is a joint venture project between Aloro Mining and Alamos Gold. More information can be viewed in their March 2023 company presentation.
Recent News:
October 14, 2022 - Aloro Provides Los Venados Option Update
https://aloromining.com/news/news-releases/aloro-provides-los-venados-option-update/
January 31, 2023 - Aloro to Acquire the Historic Quitovac Mine Project
https://aloromining.com/news/news-releases/aloro-to-acquire-the-historic-quitovac-mine-project/
March 20, 2023 - Aloro Announces Private Placement
https://aloromining.com/news/news-releases/aloro-announces-private-placement-1/
Additional information regarding Quitovac from the prior land owner:
https://cdn-ceo-ca.s3.amazonaws.com/1i0u76n-Santa%20Cruz%20Annual%20Report%201996.pdf
https://cdn-ceo-ca.s3.amazonaws.com/1i0u775-Santa%20Cruz%20Gold%20NR_Qutovac%2019970225.pdf
|
Followers
|
1
|
Posters
|
|
|
Posts (Today)
|
0
|
Posts (Total)
|
25
|
|
Created
|
12/15/20
|
Type
|
Free
|
| Moderators | |||
June 2021
Aloro controls the Los Venados Project is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant high sulphidation type with accessory silver and copper.
The Los Venados Project, consists of two mining concessions covering an area of approximately 3,199 hectares. The concessions are situated approximately 220 kilometres east-southeast of the city of Hermosillo, the capital of the State of Sonora. Road access to the property is readily possible via paved and gravel roads from Hermosillo southeast to Mulatos via Sahuaripa.
Historic exploration work by Phillips Petroleum, Homestake Mining, Kennecott, Placer Dome and others have focused on the large high sulphidation gold deposits at and near the current Mulatos mine. The Los Venados Project has received geochemical sampling, geological mapping, 2 induced polarization geophysical surveys totaling 17.3 line kilometers, and very limited diamond drilling in the northern portion of the property.
The Mulatos Gold District is a large area, within which large altered areas are receiving intense exploration by a number of companies including Alamos Gold Inc, Agnico Eagle Mines Limited and Fresnillo PLC. Within 10 kilometers of the Los Venados concession boundary, there are at least 10 known gold deposits that are receiving extensive pre-development and production work.
Geological mapping completed identified three large alteration zones coincident with known anomalous soil and rock geochemical samples. The results from two additional east-west lines of induced polarization surveying confirmed the presence of a suspected buried intrusion, possibly mineralized, in the vicinity of anomalous soil and rock samples returning values in excess of 1 gpt gold. The results of this preliminary work are shown in the accompanying Exploration Targets Map.
Exploraciones Aloro, S.A. de C.V., has an agreement in place with the local Ejido granting exploration access to the project. The Company recently received a new permit from SEMARNAT, replacing the previous issued drill permit. The new permit will allow for the drilling of 12 drill holes, the building of 12 drill sites 14 x 7 meters suitable for using a reverse circulation drill, and the construction 3,693 meter access road 7 meters wide in order to reach the 12 new locations.
Aloro Mining Corp. looks forward to advancing and developing the Los Venados Project.
At Aloro, we are committed to responsible exploration and development at all levels of our operation. We will work enthusiastically with all government bodies, communities and other stakeholders to ensure our activities meet or exceed regulatory standards and generate minimal environmental impact.
Having held a variety of senior positions with resource companies in Canada, the United States and internationally, Mr. Doyle brings to the company extensive experience and expertise in domestic and foreign financial markets, management, business development and capital formation.
A previous Chartered Accountant in New Zealand, Mr. Anderson served as Wolverine's President from 2004 to 2006. He has been the Principal and President of Amteck Financial Services Company, a private financial consulting firm, since 1993. Mr. Anderson provides Wolverine with considerable financial and management expertise.
Mr. Burnett, who holds an MBA from the University of British Columbia and Bachelor of Science degree in Civil Engineering, brings to the company more than 18 years of diversified experience in corporate finance and administration. He presently serves as the President and principal shareholder of Carob Management Ltd., a private management consulting company specializing in due diligence, business plan development, structuring and financing and management of venture capital projects. Mr. Burnett is also the Director of a number of Canadian resource companies.
Mr. Carter is a Chartered Professional Accountant with over 45 years' experience in both the private and public business sectors, and was Vice President of a NYSE listed company focused on merchant banking activities from 1998 to 2017. He specialized in conducting corporate evaluations, due diligence reviews, analysis and related negotiations for corporate acquisitions, as well as designing, negotiating, managing and implementing corporate and debt restructurings and risk management programs.During his career, he has served as an officer and director of a number of private and publicly traded companies in various industries in both North America and Europe.
| Price per share | Expiry Dates | ||
| Shares issued | 51,288,129 | ||
| Options | 400,000 | @ .10 | April 2023 |
| Fully Diluted | 51,688,129 |
