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Blind Gold Property Flyover
https://www.facebook.com/photo.php?v=113470262120594
3M Share Float, 30,081,672 OS, Directors own 89.94%
Security ownership of management after the closing of the Material Definitive Agreement.
(1) Title of class
(2) Name of beneficial owner
(3) Amount and nature of beneficial ownership
(4) Percent of class
Common
Richard Bachman; P.O. Box 33084, Reno, NV 89533
73,672 Unrestricted Common Shares
15,000,000 Restricted Common Shares
Total: 15,073,672
45.09%
Common
Gerry Berg; 10580 N. McCarran Blvd., Building 115 – 208 Reno, NV 89503
Nil
00.00%
Common
Gerald Aberle; 10580 N. McCarran Blvd., Building 115 – 208 Reno, NV 89503
15,000,000 Restricted Common Shares
44.85%
All Directors and Officers as a Group
30,081,672 Common Shares.
89.94%
Section 9 - Financial Statements and Exhibits
Dakota Territory Resource Corp Update
Company to Focus on Gold Exploration
Press Release: Mustang Geothermal Corp. – Tue, Oct 16, 2012 10:54 AM EDT
Reno, Nevada, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (URXED) ("Dakota Territory" or the "Company"), formerly Mustang Geothermal Corp ("Mustang"), is pleased to provide an update on the Company and its transition to gold exploration.
As previously disclosed in a separate news release dated September 19, 2012, Mustang announced the filing of its Definitive Form 14C Information Statement relevant to the actions taken by the Company as the result of its entrance into a Material Definitive Agreement on March 8, 2012. The Definitive 14C Information Statement is available under the Company's profile at http://www.sec.gov.
As a result of entering into the Material Definitive Agreement with North Homestake Mining Company, Mustang agreed to:
Change its name from Mustang Geothermal Corp to Dakota Territory Resource Corp.
Affect a ten for one (10:1) reverse stock split of its issued and outstanding common stock.
After completion of the two foregoing actions, acquire and assume control and beneficial ownership of all of the outstanding shares of North Homestake Mining Company in exchange for thirty million post reverse stock split shares of Mustang's common stock, resulting in Mustang assuming ownership of the Blind Gold Property Claims located in the Black Hills of South Dakota.
Name Change
Through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Mustang Geothermal Corp became Dakota Territory Resource Corp on September 26, 2012.
Ticker Symbol
Through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Dakota Territory began trading on September 26, 2012 with the temporary symbol OTCBB: URXED. Following approximately 20 business days, or on October 23, 2012, the temporary ticker symbol will be permanently changed to OTCBB: DTRC.
Reverse Stock Split
On September 26, 2012, through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Dakota Territory effected a change in capital through a reverse split of the Company's total issued and outstanding shares of stock on the basis of 1 for 10.
Acquisition of North Homestake Mining Company
Consistent with the terms of the Material Definitive Agreement, Dakota Territory and North Homestake Mining Company exchanged common stock on September 28, 2012, and successfully closed the Common Stock Share Exchange Agreement, whereby Dakota Territory assumed 100% beneficial ownership of the Blind Gold Property located in the Black Hills of South Dakota.
The Black Hills are known for continuous gold production over the past 135 years and Dakota Territory's 1600 acre Blind Gold Property lies approximately 3 miles northwest of, and on a structural trend with the historic Homestake Gold Mine, which before closing in 2002 produced approximately 40 million ounces of gold. The Blind Gold Property is underlain by Homestake Formation, the unique host for gold mineralization at the Homestake Mine. Richard Bachman, President and CEO of the Company and Gerald Aberle, Vice President and COO of the Company have a combined 44-years of mining and exploration experience with Homestake Mining Company in the Black Hills.
Despite the prolific gold production history of the Black Hills, the area is largely underexplored. Management believes, based on its firsthand knowledge and experience in the district, that the Blind Gold Property holds excellent exploration potential for the discovery of a gold deposit hosted in Homestake iron-formation. Coupled with today's higher gold prices and the benefits associated with operating in a stable low cost jurisdiction, Management believes the exploration potential of its projects in the Black Hills will provide finance opportunities that have not been available for the development of its geothermal assets, and will ultimately provide shareholders the opportunity for significant growth that does not otherwise exist in the geothermal energy sector.
Focus on Gold Exploration
Over the past several years, Mustang has been engaged in the business of advancing its geothermal assets in the State of Nevada and Country of Peru. The Company actively pursued conventional and alternative capital financing to fund the development of its properties, but has been unsuccessful due to changing conditions within the industry and other factors beyond the control of the Company. In early 2012, Management determined that the Company's prospects for financing its geothermal assets were not likely to improve in the foreseeable future and, as a result, began investigations into other business opportunities that fell within the purview of its business profile and classification.
In its news release dated September 19, 2012, Mustang announced its intention to focus the Company's energy and resources going forward on gold exploration in the Black Hills. With the acquisition of North Homestake Mining Company and the Blind Gold Property completed, the Board of Directors consequently voted unanimously on October 12, 2012 not to invest any further capital in the maintenance of its geothermal properties in the State of Nevada or the Country of Peru. This decision was based on the determination that (i) new opportunities to fund the Company's planned geothermal projects are not likely to materialize in the foreseeable future; (ii) the substantial overhead costs associated with maintaining its property position in Peru and Nevada is detrimental to current and future efforts to finance exploration of the Blind Gold Property; and (iii) the diversion of any new finances to overhead costs associated with its geothermal properties is in conflict with the Company's overall objective of creating shareholder value through the focus of its energy and resources on gold exploration in the Black Hills. As a result of management's decision, Dakota Territory will write off its geothermal assets in the State of Nevada as at September 30, 2012 and its property assets in Country of Peru when such future holding costs become due.
Investor Relations Contact
For more information, please contact Constellation Asset Advisors, Inc. 415-524-8500
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov.
.19 - getting close
They are dropping the GEO properties and seem to be trying to raise money for Gold exploration.
.07 x .20 - I am think we start trading at .25 next week when we change to DTRC
Only 3M share float.
1) Title of class
(2) Name of beneficial owner
(3) Amount and nature of beneficial ownership
(4) Percent of class
Common
Richard Bachman; P.O. Box 33084, Reno, NV 89533
73,672 Unrestricted Common Shares
15,000,000 Restricted Common Shares
Total: 15,073,672
45.09%
Common
Gerry Berg; 10580 N. McCarran Blvd., Building 115 – 208 Reno, NV 89503
Nil
00.00%
Common
Gerald Aberle; 10580 N. McCarran Blvd., Building 115 – 208 Reno, NV 89503
15,000,000 Restricted Common Shares
44.85%
All Directors and Officers as a Group
30,081,672 Common Shares.
89.94%
Ticker change to DTRC on 23rd!
URXED .15 - Dakota Territory Resource Corp Update
Company to Focus on Gold Exploration
Reno, Nevada, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCBB: URXED) ("Dakota Territory" or the "Company"), formerly Mustang Geothermal Corp ("Mustang"), is pleased to provide an update on the Company and its transition to gold exploration.
As previously disclosed in a separate news release dated September 19, 2012, Mustang announced the filing of its Definitive Form 14C Information Statement relevant to the actions taken by the Company as the result of its entrance into a Material Definitive Agreement on March 8, 2012. The Definitive 14C Information Statement is available under the Company's profile at http://www.sec.gov.
As a result of entering into the Material Definitive Agreement with North Homestake Mining Company, Mustang agreed to:
Change its name from Mustang Geothermal Corp to Dakota Territory Resource Corp.
Affect a ten for one (10:1) reverse stock split of its issued and outstanding common stock.
After completion of the two foregoing actions, acquire and assume control and beneficial ownership of all of the outstanding shares of North Homestake Mining Company in exchange for thirty million post reverse stock split shares of Mustang's common stock, resulting in Mustang assuming ownership of the Blind Gold Property Claims located in the Black Hills of South Dakota.
Name Change
Through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Mustang Geothermal Corp became Dakota Territory Resource Corp on September 26, 2012.
Ticker Symbol
Through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Dakota Territory began trading on September 26, 2012 with the temporary symbol OTCBB: URXED. Following approximately 20 business days, or on October 23, 2012, the temporary ticker symbol will be permanently changed to OTCBB: DTRC.
Reverse Stock Split
On September 26, 2012, through amendment of its Articles of Incorporation with the Nevada Secretary of State and with approval of the Financial Industry Regulatory Authority (FINRA), Dakota Territory effected a change in capital through a reverse split of the Company's total issued and outstanding shares of stock on the basis of 1 for 10.
Acquisition of North Homestake Mining Company
Consistent with the terms of the Material Definitive Agreement, Dakota Territory and North Homestake Mining Company exchanged common stock on September 28, 2012, and successfully closed the Common Stock Share Exchange Agreement, whereby Dakota Territory assumed 100% beneficial ownership of the Blind Gold Property located in the Black Hills of South Dakota.
The Black Hills are known for continuous gold production over the past 135 years and Dakota Territory's 1600 acre Blind Gold Property lies approximately 3 miles northwest of, and on a structural trend with the historic Homestake Gold Mine, which before closing in 2002 produced approximately 40 million ounces of gold. The Blind Gold Property is underlain by Homestake Formation, the unique host for gold mineralization at the Homestake Mine. Richard Bachman, President and CEO of the Company and Gerald Aberle, Vice President and COO of the Company have a combined 44-years of mining and exploration experience with Homestake Mining Company in the Black Hills.
Despite the prolific gold production history of the Black Hills, the area is largely underexplored. Management believes, based on its firsthand knowledge and experience in the district, that the Blind Gold Property holds excellent exploration potential for the discovery of a gold deposit hosted in Homestake iron-formation.
Coupled with today's higher gold prices and the benefits associated with operating in a stable low cost jurisdiction, Management believes the exploration potential of its projects in the Black Hills will provide finance opportunities that have not been available for the development of its geothermal assets, and will ultimately provide shareholders the opportunity for significant growth that does not otherwise exist in the geothermal energy sector.
Focus on Gold Exploration
Over the past several years, Mustang has been engaged in the business of advancing its geothermal assets in the State of Nevada and Country of Peru. The Company actively pursued conventional and alternative capital financing to fund the development of its properties, but has been unsuccessful due to changing conditions within the industry and other factors beyond the control of the Company. In early 2012, Management determined that the Company's prospects for financing its geothermal assets were not likely to improve in the foreseeable future and, as a result, began investigations into other business opportunities that fell within the purview of its business profile and classification.
In its news release dated September 19, 2012, Mustang announced its intention to focus the Company's energy and resources going forward on gold exploration in the Black Hills. With the acquisition of North Homestake Mining Company and the Blind Gold Property completed, the Board of Directors consequently voted unanimously on October 12, 2012 not to invest any further capital in the maintenance of its geothermal properties in the State of Nevada or the Country of Peru. This decision was based on the determination that (i) new opportunities to fund the Company's planned geothermal projects are not likely to materialize in the foreseeable future; (ii) the substantial overhead costs associated with maintaining its property position in Peru and Nevada is detrimental to current and future efforts to finance exploration of the Blind Gold Property; and (iii) the diversion of any new finances to overhead costs associated with its geothermal properties is in conflict with the Company's overall objective of creating shareholder value through the focus of its energy and resources on gold exploration in the Black Hills. As a result of management's decision, Dakota Territory will write off its geothermal assets in the State of Nevada as at September 30, 2012 and its property assets in Country of Peru when such future holding costs become due.
Investor Relations Contact
For more information, please contact Constellation Asset Advisors, Inc. 415-524-8500
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov.
Globe Newswire
October 16, 2012 - 10:54 AM EDT
has anyone talk to the management to ask some questions about financings?
and would they spin out the thermal energy properties into a new company hence more shareholder value .
Please sell me your shares at .02! TIA
.02 x .25 - MMs sold 100 shares at .02.
Blind Gold Property Flyover | Facebook
www.facebook.com/video/video.php?v=113470262120594
you are viewing an animation of a flyover of Dakota Territory's Blind Gold Property in the Black Hills of South Dakota. — at. Black Hills, South Dakota. Title:Blind ...
There is gold in dem der hills, check in Roosevelt's nose. Oh yeah awesome steak at the Alpine Inn. URXED
Very nice.... should start getting fun here soon.
Mustang Geothermal Corp changed to Dakota Territory Resource Corp, and one for 10 reverse split.
http://www.otcbb.com/asp/dailylist_detail.asp?d=09/25/2012&mkt_ctg=NON-OTCBB
Finally moving forward... this is going to be a nice play if they do find something at Blind Gold.
URXE .01 RS any day to Dakota Territory Resource - http://dakotaterritoryresource.com/
The North Homestake Opportunity.
North Homestake is a Nevada corporation formed on April 12, 2011, and is active and operating in good standing. Richard Bachman, who is the Company’s President, Chief Executive Officer, Chief Accounting Officer and Director, along with Gerald Aberle, who is the Company's Vice President, Chief Operating Officer and Director, founded North Homestake. Mr. Bachman and Mr. Aberle are the sole directors and shareholders of North Homestake (readers are directed to the Section of this filing entitled: Transactions with Related Persons). North Homestake is a gold exploration company whose business plan focuses on the acquisition and exploration of gold resource properties for the purpose of discovering and developing profitable gold mines. North Homestake acquired gold properties located in the Homestake District of South Dakota known as the “Blind Gold Property.”
The Blind Gold Property contains 1600 acres and is approximately 3 miles northwest and on structural trend with the historic Homestake Gold Mine, which was the largest iron-formation-hosted gold deposit in the world and has produced 1241.4 tons of gold (or approximately 40 million ounces) in its 125 year history. The mine closed in 2001 after Barrick Gold Corporation acquired Homestake Mining Company.
a. Principals of North Homestake and their Qualifications.
Mr. Richard Bachman
Mr. Richard Bachman’s work experience includes 22 years working with Homestake Mining Company in various capacities ranging from exploration to operations. From 1983 to 1994, he was the Regional Geologist for the Homestake Mine District managing a cumulative budget of $70 million. Additionally, during the period from 1995 to 1998, he was Homestake’s Regional Geologist for Brazil where he directed a staff of 46 and was responsible for a $2.5 million annual exploration budget. He conducted a Brazil countrywide assessment that resulted in the acquisition of a one million hectare property in a 20 million ounce gold district in the Amazon.
From 1999 to 2000 Mr. Bachman was Homestake’s Regional Geologist for Peru where he directed a staff of 10 and refocused Homestake’s existing exploration program, which resulted in the evaluation of 83 properties in 24 months and yielded one new discovery. From 2001 to 2002, he was Homestake’s Regional Geologist, International Special Projects, where he designed and successfully implemented reconnaissance programs in southern Argentina that resulted in the evaluation of 63 properties with five advancing and the coordination and field review of 22 properties.
From 2002 until the present, Mr. Bachman has acted as President and Consulting Professional Geologist for Minera Teles Pires Inc., a Reno, Nevada company. Mr. Bachman also served as President, CEO and Director of Capella Resources Ltd from 2006 - 2011, a Canadian public company traded on TSX Venture Exchange with exploration properties in the U.S., Canada, and Chile.
Mr. Bachman holds a Bachelors of Science degree in Geological Engineering from the South Dakota School of Mines and Technology and is a Certified Professional Geologist with the American Institute of Professional Geologists.
8
Mr. Gerald Aberle
Mr. Gerald Aberle graduated in 1980 from South Dakota School of Mines and Technology with a Bachelor of Science degree in mining engineering. He has over 30 years of experience in the resource industry, including 22 years with Homestake Mining Company at the Homestake Mine. Mr. Aberle's resource and minerals background includes extensive engineering, operations management and project management experience.
Over the past 14 years, Mr. Aberle has consulted in the mining, underground construction and minerals exploration business for clients including Homestake Mining Company., Barrick Gold Corp., the State of South Dakota, and the University of Washington in connection with the planning and development of the National Science Foundation's national deep underground science and engineering laboratory.
Mr. Aberle served as Vice President of Operations for Capella Resources Ltd. from September 2008 to June 2010 and served as President and Chief Executive Officer and Director of Capella Resources Ltd. from August 2011 to December 2011. Mr. Aberle also served as President, CEO and Director of AM Gold from June 2010 to September 2010 and as President, COO and Director of AM Gold from September 2010 to October 2011. Mr. Aberle also has served as President Jerikodie Inc. from July 1998 to Present.
Mr. Aberle also has more than 15 years of private business experience in the United States, primarily in the land development and construction industries.
b. The Blind Gold Property
The unique gold endowment of the Northern Black Hills of South Dakota is attributed to the regional-scale structural intersection of the Trans-Hudson Orogenic Zone and Lewis and Clark Lineament. The Homestake District is geologically located on the boundary of the Superior and Wyoming Geologic Plates, which collided 1.8 billion years ago, forming the north trending Trans-Hudson Orogenic Zone and the Homestake iron-formation gold deposit. At thirty-eight million years-ago, geologic processes were reactivated and a new series of gold deposits formed in relation to intrusion magma along the west-northwest trending Lewis and Clark Lineament. This second gold event was spatially superimposed on the Homestake District and the earlier Homestake gold event.
In terms of total historic US gold production, the Black Hills of South Dakota ranks second only to the Carlin District of northeast Nevada, with the gold production of the Black Hills concentrated in a 100 square mile area known as the Homestake District. In the context of defining success and failure in the exploration business, it has been said that "The odds are best in the shadow of the head frame". This obvious, important exploration principle reflects the fact that ore forming processes tend to occur as multiple events and produce multiple deposits in favorable geologic settings.
The Homestake District is certainly a favorable geologic setting with a number of unique geologic gold deposit types that have yielded significant gold production, three of which are: (i) The Proterozoic-age Homestake iron-formation gold deposit that produced approximately 40 million ounces of gold; (ii) Tertiary-age replacement gold deposits that produced approximately 9 million ounces of gold; and (iii) Eo-Cambrian Homestake paleoplacer gold deposits that produced approximately1.2 million ounces of gold. The Homestake gold deposit is the largest iron-formation hosted gold deposit in the world, producing approximately 40 million ounces of gold over 125 years at an average historical reserve grade of approximately 0.3 ounces gold per ton.
Despite the prolific production history of the Homestake District, the area is largely underexplored. Virtually all mines in the District were discovered by virtue of the fact that the deposits were exposed at surface, or were discovered through underground exploration conducted from producing mines in close proximity. Homestake Mining Company also believed the Northern Black Hills area held great exploration potential and in the 1980's and 1990's, undertook a $70MM exploration program focused primarily on the search for a repeat of the Homestake Mine. The extensive Homestake exploration program successfully discovered significant new gold mineralization two miles north of the Homestake Mine and conclusively proved the continuous extension of the Homestake iron-formation host to a distance extending approximately 3 miles north of the Mine. Gold prices in the range of $300 per ounce persisted through the 1990's, however, and eventually forced the suspension of Homestake's regional exploration effort. No further work was conducted prior to the closing of the Mine in 2001 and subsequent acquisition of the Company by Barrick Gold Corporation in 2002.
The Blind Gold Property is located approximately 3 miles northwest of the Homestake Gold Mine. Richard Bachman, President and CEO of Mustang and past manager of Homestake's Black Hills exploration program of the 80's and 90's was responsible for the drilling of diamond drill core holes that document the existence of Homestake iron-formation underlying the Blind Gold Property. Mustang believes that the existence of Homestake iron-formation under the Phanerozoic-age rock covering the Blind Gold Property presents a significant exploration opportunity in so much as the repeat of the Homestake style gold mineralization is not only possible, but has already been demonstrated to occur down plunge, roughly one mile south of the Blind Gold Property. Mustang further believes that the discovery of a repeat of the Homestake gold deposit with similar gold grades could present significant financial reward to its shareholders at today's gold prices.
9
In addition to the exploration potential for gold hosted in Homestake iron-formation, the Blind Gold Property is also located less than a mile north of the Maitland Mine. The Maitland Mine produced both gold and silver from a Tertiary-age replacement deposit typical of the District, with mineralization hosted in the Cambrian Deadwood formation. The preferred host formation for tertiary-age gold mineralization is Deadwood formation, which outcrops at the southwest corner of the Blind Gold Property. The Paha Sapa Limestone, which also occurs on the surface at Blind Gold, also hosts gold deposits within the District but to a lesser degree. The formation of Tertiary-aged gold-silver replacement deposits is generally dependent on fault and fracture structures necessary to the transportation of mineralizing fluids and proximity to the preferential intrusive bodies, both of which are present at the Blind Gold Property. Tertiary-age gold mineralization is evidenced across the Property by numerous mapped prospect workings dating from the turn of the century through the 1980's in Deadwood formation, Paha Sapa Limestone and Phonolite intrusive.
Mustang believes significant potential exists on the Blind Gold Property for the discovery of Tertiary-aged gold/silver replacement deposits. Deposits of this type within the District were historically produced by underground methods at grades ranging from 0.20 to 2.0 ounces gold per ton. Mustang believes that the historic mining grades of Tertiary-aged gold-silver deposits within the district would support the commercial viability of a similar deposit discovered on the Blind Gold Property.
Mustang's exploration focus is on the search for a repeat of the Homestake gold deposit on the Blind Gold Property, primarily because of the size and grade potential of a deposit of this type and resulting economic opportunity associated with such a discovery. While exploration for other gold deposit types is a secondary priority, the exploration program will be opportunistic as each hole drilled through the overlying cover rock holds additional potential for the discovery of Tertiary-aged gold-silver replacement deposits.
With the knowledge and information gained from Homestake's programs of the 1980's and 1990's, Mustang's Management Team is uniquely qualified to build on the previous work with the distinct economic advantages that have been created by today's higher gold prices. The Black Hills area is known for its rich mining heritage and culture based on generations of mines and miners. South Dakota's exploration and mining regulations are reasonable and comparable to other jurisdictions within the United States. State and County regulatory authorities have also demonstrated their willingness to work with responsible operators to permit well-planned compliant projects.
Seems to be waking here...
Anybody here when the ticker symbol will change?
URXE .01 - spoke with CO. 1-10 RS coming. After acquisition/split OS will only be 33 Million (1 MM less than it is now)... 30MM will be held by the Co. officers, only 3MM float. Here is what I like:
The Blind Gold Property
The unique gold endowment of the Northern Black Hills of South Dakota...
In terms of total historic US gold production, the Black Hills of South Dakota ranks second only to the Carlin District of northeast Nevada, with the gold production of the Black Hills concentrated in a 100 square mile area known as the Homestake District.
The Homestake District is certainly a favorable geologic setting with a number of unique geologic gold deposit types that have yielded significant gold production, three of which are: (i) The Proterozoic-age Homestake iron-formation gold deposit that produced approximately 40 million ounces of gold; (ii) Tertiary-age replacement gold deposits that produced approximately 9 million ounces of gold; and (iii) Eo-Cambrian Homestake paleoplacer gold deposits that produced approximately1.2 million ounces of gold. The Homestake gold deposit is the largest iron-formation hosted gold deposit in the world, producing approximately 40 million ounces of gold over 125 years at an average historical reserve grade of approximately 0.3 ounces gold per ton.
Despite the prolific production history of the Homestake District, the area is largely underexplored. Virtually all mines in the District were discovered by virtue of the fact that the deposits were exposed at surface, or were discovered through underground exploration conducted from producing mines in close proximity. Homestake Mining Company also believed the Northern Black Hills area held great exploration potential and in the 1980's and 1990's, undertook a $70MM exploration program focused primarily on the search for a repeat of the Homestake Mine. The extensive Homestake exploration program successfully discovered significant new gold mineralization two miles north of the Homestake Mine and conclusively proved the continuous extension of the Homestake iron-formation host to a distance extending approximately 3 miles north of the Mine. Gold prices in the range of $300 per ounce persisted through the 1990's, however, and eventually forced the suspension of Homestake's regional exploration effort. No further work was conducted prior to the closing of the Mine in 2001 and subsequent acquisition of the Company by Barrick Gold Corporation in 2002.
The Blind Gold Property is located approximately 3 miles northwest of the Homestake Gold Mine. Richard Bachman, President and CEO of Mustang and past manager of Homestake's Black Hills exploration program of the 80's and 90's was responsible for the drilling of diamond drill core holes that document the existence of Homestake iron-formation underlying the Blind Gold Property. Mustang believes that the existence of Homestake iron-formation under the Phanerozoic-age rock covering the Blind Gold Property presents a significant exploration opportunity in so much as the repeat of the Homestake style gold mineralization is not only possible, but has already been demonstrated to occur down plunge, roughly one mile south of the Blind Gold Property. Mustang further believes that the discovery of a repeat of the Homestake gold deposit with similar gold grades could present significant financial reward to its shareholders at today's gold prices.
Deposits of this type within the District were historically produced by underground methods at grades ranging from 0.20 to 2.0 ounces gold per ton. Mustang believes that the historic mining grades of Tertiary-aged gold-silver deposits within the district would support the commercial viability of a similar deposit discovered on the Blind Gold Property.
Mustang's exploration focus is on the search for a repeat of the Homestake gold deposit on the Blind Gold Property, primarily because of the size and grade potential of a deposit of this type and resulting economic opportunity associated with such a discovery.
With the knowledge and information gained from Homestake's programs of the 1980's and 1990's, Mustang's Management Team is uniquely qualified to build on the previous work with the distinct economic advantages that have been created by today's higher gold prices. The Black Hills area is known for its rich mining heritage and culture based on generations of mines and miners. South Dakota's exploration and mining regulations are reasonable and comparable to other jurisdictions within the United States. State and County regulatory authorities have also demonstrated their willingness to work with responsible operators to permit well-planned compliant projects.
Mustang understands the risks inherent to minerals exploration and believes that the location and technical merits of the Blind Gold Property coupled with Management's knowledge and experience supports the acquisition of North Homestake Mining Company and will create opportunity and value for its shareholders.
Is this the reason for run
"
As of March 31, 2012, there were outstanding 34,492,057 shares of common stock."
Everything else looks pretty good, if ss is accurate that is, and gotta love gold
One of these days it will go TO-DA-MOON and everyone will be wanting to chat it up and do the old in and out. Yep, it may make a nice difference for some longs. Might.
I mean, the information that gave you the confidence to think that this was a good position may still exist. May even have some additional strength and value as a trade today. May!
My trading history looks a lot how you describe yours. Last three years have been pretty tough in particular. It can discourage a trader when they are trying really hard. Might say that! LOL
URXE
Hell I have been in this thing for ever, way back when it was Voyager Petroleum. It R/S once, if I remember, now I just have 1600 shares.
Talk about coming back from the dead. I had a s*itload, sorry panther might be watching, of SLMU the I grabed at .21 in 2010. I finally sold last week at .07 for a loss, now it's at like .33. Another one, purchased LFVN at 1.7 and sold for 2.07, now look at it. I am telling you, I have got to get out of this pink crap.
Hope your day is going well, not too cold?
What do you have?
Depends on the A/S, whether or not it is also reduced.
If not, it opens the door for greater dilution. If the SS is small enough and the assets increase during the course of this transition, could be a winner. I never felt confident in that these guys were ready to grow the PPS. I couldn't find enough information to support a play. Everything was in thin air. While it's great that they have hectars of land for this, that and the other thing, we of course need to see earnings and asset growth IMO.
I didn't see a date for the RS yet. Too many questions, but worth watching as far as I am concerned.
URXE
.
R/S's scare me. I will just hold and wait it out. It's scary when it looks like management are doing shareholders a favor. Aside from reducing the S/S, what do you have?
Might pick up some discounted shares
on the R/S fall back. Looks as though
these folks like the stock business
more than getting their hands dirty.
Time will tell.............
URXE OR WHATEVER
Good luck with that!
Geothermal, right?
http://www.otcmarkets.com/stock/URXE/news
Mustang Geothermal Corp. Announces the Results of a Special Shareholders Meeting
RENO, Nevada, March 9, 2012 /PRNewswire via COMTEX/ -- Mustang Geothermal Corp. (OTC BB: URXE) ("Mustang" or the "Company") is pleased to announce the results of a Special Shareholders Meeting held in Reno, Nevada on March 8, 2012. Called and held in accordance with the Company's by-laws, 21,625,000 shares, or approximately 63% of the total common shares issued and eligible to cast votes, voted to approve and authorize the Board of Directors of the Company to:
1.) Implement a 10:1 reverse split on all of the common shares of Mustang;
2.) Change the name of the Company to Dakota Territory Resource Corp, and apply for a new ticker symbol; and
3.) Acquire all of the issued and outstanding common shares of North Homestake Mining Company (North Homestake), a Nevada Corporation, subject to the terms and conditions of a material definitive agreement between the Company and North Homestake dated March 8th, 2012, or as amended by the Company and North Homestake prior to closing, which is set for March 31, 2012, or as soon as is legally practicable thereafter, taking into consideration regulatory review and approval of the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Richard Bachman, Director of Mustang and familiar with gold mining and exploration in the Black Hills, commented, "This area has a significant gold mining and production history and this presents a growth opportunity for the Company."
Gerry Berg, Director of Mustang, commented, "The acquisition of North Homestake's exploration properties represents a solid opportunity for the Company as well as its shareholders."
The Company also announced today the filing of Form 8-K with the Securities and Exchange Commission reporting its entry into the material definitive agreement with North Homestake.
ABOUT NORTH HOMESTAKE
North Homestake Mining Company is a private Nevada corporation that owns the Blind Gold Property located in the Black Hills of South Dakota, an area known for continuous gold production over the past 135 years. North Homestake's 1600 acre "Blind Gold Property" is approximately 3 miles northwest of the historic Homestake Gold Mine, which before closing in 2002, had produced over 40 million ounces of gold. The "Blind Gold Property" is underlain by the Homestake Formation, an iron-formation that was the unique host for gold mineralization at the Homestake Mine. The founders of North Homestake have a combined 44-years of work history at the Homestake Mine, directly related to geology and mine engineering.
ABOUT MUSTANG GEOTHERMAL CORP.
Mustang Geothermal owns a 100% interest in 4,536 hectares of Federal geothermal leases in four project areas in the state of Nevada and holds 6,300 hectares of geothermal exploration concessions in seven areas (Banos del Inca, Paclla, Ninobamba, Atecata, Coline, and Condoroma South & Condoroma) in Peru
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:Richard BachmanCEO and Director
Investor Relations Contact: Constellation Asset Advisors, Inc. 415-524-8500
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, termination of contracts or agreements, technological obsolescence of our products, technical problems with our research and products, price increases for supplies and components, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov.
SOURCE Mustang Geothermal Corp.
Yeah and a great 10-1 R/S always helps those pinky's.
Special Shareholders Meeting!! Special my azz
He and another guy (in a bar) came up with this reverse split idea. lmao
Good 2 see ya WK!!
.02 should be obtainable.
That all depends on the volume and whats pushing it. It's really not practable to predict that at this point.
HoW high this can go?
Yes I'm really happy from .006 to .013 not too shabby :)
Chart is reversing. This huge. Big move coming.
Why the sudden move here
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