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EMGCF FINRA deleted symbol. Pursuant to the amalgamation, the holders of common shares of Eagle Mountain will be entitled to receive 0.52763 of a common share of Goldsource for each Eagle Mountain common share held, with any fractional interest resulting from such exchange being rounded up or down to the next greater or lesser whole number of common shares of Goldsource.
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/04/2014&mkt_ctg=NON-OTCBB
August 19, 2013 Symbol: Z: TSX–V
NEWS RELEASE
EAGLE MOUNTAIN ANNOUNCES CLOSING OF $688,960 PRIVATE PLACEMENT
Vancouver, BC – Eagle Mountain Gold Corp. (“Eagle Mountain” or the “Company”) (Z: TSX-V) (Frankfurt: E9X) (OTCQX: EMGCF) announces the closing of a non-brokered private placement (the “Financing”), previously announced on July 31, 2013, for total gross proceeds of $688,960 by the issuance of 11,482,666 units (each a “Unit”) at a price of $0.06 per Unit. Each Unit consists of one common share (a “Share”) and one transferable share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share (a “Warrant Share”) at a price of $0.10 until August 14, 2015, being two years from the closing of the Financing. The Company will pay a finder’s fee of 846,613 Units to Weiser Capital Limited.
All securities issued above are subject to a hold period expiring on December 15, 2013, being four months and one day after closing of the first tranche. The proceeds of the private placement will be used to fund the advancement of the Company’s Eagle Mountain project in Guyana, and for general working capital.
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 “US 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.
On behalf of The Board of Directors of Eagle Mountain Gold Corp.
“Ioannis (Yannis) Tsitos”
President, CEO & Director
Further Information
Ioannis (Yannis) Tsitos
President, CEO and Director
Eagle Mountain Gold Corp.
Toll Free (North America): 1 (866) 437-9552
Outside North America: +1 (416) 489-0092
ir@eaglemountaingoldcorp.com
http://www.eaglemountaingoldcorp.com/
SDMTF changed to EMGCF:
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/14/2013&mkt_ctg=NON-OTCBB
VANCOUVER, Jan. 14, 2013 (GLOBE NEWSWIRE) -- Eagle Mountain Gold Corp. ("Eagle Mountain" or the "Company") (Z: TSX-V) (Frankfurt: E9X) (OTCQX: SDMTF) is pleased to report on its progress in the second half of 2012, both in the advancement of its Eagle Mountain gold project in central Guyana and on the corporate front.
The year was highlighted by the completion of an updated independent National Instrument 43-101 technical report and mineral resource estimate ("Technical Report") for the company's Eagle Mountain gold project ("Project") located in Guyana, South America, as reported in the Company's news release dated November 21, 2012, which has now been filed on SEDAR (www.sedar.com). The resource estimate has been completed in accordance with Canadian Securities Administration National Instrument 43-101 ("NI 43-101") and CIM Standards on Mineral Resources and Mineral Reserves by A.C.A. Howe International Limited of Toronto, Ontario, Canada ("ACA Howe") using the Company's 2011/2012 diamond drilling results, the historical diamond drilling results from IAMGOLD, as well as other current and historical geological data that met QA/QC requirements. It represents an increase of approximately 34% from the November 2010 resource outline and at 0.5 grams per tonne (g/t) Au cut-off includes:
Indicated resource of 3,921,000 tonnes, hosted by saprolite (oxide) and "fresh" (non-oxidized) rock, averaging 1.49 g/t gold for 188,000 ounces.
Inferred resource of 20,635,000 tonnes, hosted by saprolite (oxide) and "fresh" (non-oxidized) rock, averaging 1.19 g/t gold for 792,000 ounces.
"We are excited by the expanding potential of our Eagle Mountain project and the results of this Technical Report. With gold starting at surface and nearby infrastructure, our plan is to feed a central processing facility from several open pits. As a significant portion of the resource estimate is hosted by oxide mineralization, we are working to rapidly advance the project to a scoping and feasibility studies phase and provide project economics," said Yannis Tsitos, President and CEO of Eagle Mountain. "The presence of artisanal miners holding small-scale mining claims within the Eagle Mountain prospecting license, in areas outside of our gold deposit, underscores the project's significant additional potential. As well, our right to vest in the adjacent Mowasi Gold property and the presence of both gold stream geochemical anomalies and artisanal miners producing gold at Mowasi is an additional advantage. We look forward to the continued rapid advancement of our projects in 2013."
The Eagle Mountain deposit is open in three lateral directions and at depth. Gold mineralization identified to date covers an area of approximately 300 hectares within the 5,050-hectare property.
The NI 43-101 also reports on the geology and reconnaissance exploration work done by Eagle Mountain over the adjacent Mowasi property in 2012.
Recommendations in the Technical Report include:
Continued diamond drilling on the Eagle Mountain resource estimate area to (a) expand Inferred mineral resources along strike and (b) further upgrade Inferred resources to Measured and Indicated resources.
Work to develop a preliminary mineral processing flow-sheet to be used in future preliminary economic analyses. In support of this goal, conduct gravity, cyanide and flotation test work on representative samples, additional to historical IAMGOLD metallurgical work.
Environmental Impact and Social Assessment studies necessary for a Mining License application should be considered. Eagle Mountain should confirm that weather data it has collected to date is sufficient for the application and flora and fauna studies should be initiated.
Conduct a Preliminary Economic Assessment ("PEA" or Scoping Study) on the Eagle Mountain mineral resource. Subject to successful PEA results, further feasibility studies work should be scheduled.
Further geological exploration work is warranted over the Mowasi properties, especially to follow up on identified stream geochemistry targets in the Northern portion of the properties.
The Company is scheduling to commence mineralogical and metallurgical tests, the Environmental Impact Assessment work and relevant studies, and the Scoping Study (PEA) in early 2013. Further drilling is scheduled, as is the commencement of feasibility studies work, subject to successful Scoping Study results.
Corporate Milestones
On the corporate front, in the second half of 2012 the Company has changed its name from Stronghold Metals Inc. to Eagle Mountain Gold Corp., raised $2,566,500 in private placement financings in a financially challenging period of time and appointed two distinguished businessmen to its Board of Directors.
The non-brokered private placement, originally announced at $2,025,000, was oversubscribed by more than $500,000. The first tranche of $322,750 closed on September 10, 2012 and the second tranche of $1,702,250 closed on October 15, 2012. A follow-on private placement for the oversubscribed amount of $541,500 closed on November 27, 2012.
Geoff Watson joined the Board on September 10, 2012. Mr. Watson has been involved in the securities industry for the past 30 years, including 25 years in the brokerage industry. Most recently he has been involved in corporate communications, business development and overseeing the financial affairs of several North American public companies.
Tim Crowhurst joined the Board on August 31, 2012. A senior-level executive and public policy communicator, Mr. Crowhurst has a proven track record in international trade and political affairs, business restructuring, and the development and implementation of strategic business initiatives. He has been the CEO for several mining exploration companies and served as Executive Director of a growing lobby group.
Qualified person
The resource estimate was prepared by Leon McGarry, B.Sc., Geologist, ACA Howe and supervised by Ian Trinder, M.Sc., P.Geo., Senior Geologist, ACA Howe. Technical information related to the 2012 Eagle Mountain Resource Estimate contained in this news release has been reviewed and approved by Mr. Trinder, who is an independent Qualified Person as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data.
On behalf of The Board of Directors of Eagle Mountain Gold Corp.
"Ioannis (Yannis) Tsitos"
President, CEO & Director
Further Information
Ioannis (Yannis) Tsitos
President, CEO and Director
Eagle Mountain Gold Corp.
Toll Free (North America): 1 (866) 437-9552
Outside North America: +1 (416) 489-0092
ir@eaglemountaingoldcorp.com
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
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.
The Eagle Mountain Gold Corp. logo is available at www.globenewswire.com/newsroom/prs/?pkgid=13828
Ioannis (Yannis) Tsitos
President, CEO and Director
Eagle Mountain Gold Corp.
Toll Free (North America): 1 (866) 437-9552
Outside North America: +1 (416) 489-0092
http://globenewswire.com/news-release/2013/01/14/516253/10018013/en/Eagle-Mountain-Gold-Corp-Files-Updated-NI-43-101-Technical-Report-and-Mineral-Resource-Estimate-Provides-Corporate-Update.html
Welcome to Eagle Mountain Gold Corp. (TSX-V: Z) (OTCQX: SDMTD) (FKFT Boerse: E9X)
is a resource company with an advanced-stage gold exploration project in strategic partnership with IAMGOLD. The recent results of an NI 43-101 conducted by third party engineering firm ACA Howe shows an increase in total resource estimate by 34% over the Company?s 2010 NI 43-101 at the company?s Eagle Mountain Project. With a cut-off at 0.5 g/t Au, the Indicated resource measures 188,000 ounces averaging 1.49 g/t Au and the Inferred geological resource measures 792,000 ounces of gold averaging 1.19 g/t Au. The deposit remains open in three directions and shows potential for expansion with strong gold values at the edges of the mineral resource. In addition, infill drilling will be conducted to make compliant historical resource that fell out of QA/QC compliancy status from the 2010 NI 43-101 due to new industry-wide regulations imposed by the Securities Commission. The full NI 43-101 report is posted on www.sedar.com.
Located in central Guyana, the Eagle Mountain Project is 45 kilometers from the historic Omai Gold Mine, which produced approximately four million ounces of gold before closing in 2005. The project is only 5 kilometers from the mining-friendly township of Madhia and relatively close to existing infrastructure. Guyana is a mining-friendly, English-speaking jurisdiction with a stable democracy based on British law.
Through an option agreement with Mowasi Gold Corp., Eagle Mountain Gold Corp. can earn up to 95% interest in an additional 8,500 hectares of land adjacent to the Eagle Mountain Project.
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In January of 2012, Eagle Mountain significantly improved its Earn-in and Joint Venture agreement with Omai Gold Mines Ltd., a subsidiary of IAMGOLD Corp, to earn a 100% interest in the Eagle Mountain gold project in Guyana.
The most eye-catching change is that Eagle Mountain Gold doesn't have to make anymore cash payments to fully acquire the property. The Company immediately receives a 50% stake in the property in return for the issuance of 7.5 million shares of Eagle Mountain Gold to Omai Gold. Moreover, Eagle Mountain Gold earns the right to acquire the remaining 50% interest in Eagle Mountain on or before April 30, 2013, by paying Omai Gold $1 million in cash or shares, at Eagle Mountain Gold's discretion.
On January 7, 2012, Eagle Mountain Gold entered into a definitive Share Purchase Agreement with Kensington Court Ventures Inc. (TSX:KCT)
http://kensingtoncourtventures.com/, a Capital Pool Company, whereby Kensington acquired 100% of the issued and outstanding shares of Eagle Mountain Gold's wholly-owned subsidiary, Stronghold Brasil Mineração Ltda, which holds a 100% interest in the Tucuma gold project, located in the State of Para, Brazil.
Tucuma consists of 6 mining concessions comprising a land package of 11,456 hectares. Under the terms of the agreement, Eagle Mountain Gold will receive as consideration for the sale:
16,300,000 common shares of Kensington, or approximately 52.3% of Kensington's issued and outstanding shares. These shares will add about $4 million to Eagle Mountain Gold's balance sheet.
Three seats on the Kensington 5-member Board of Directors.
The Tucuma gold/copper property is located in the State of Para, Brazil and covers a total area of approximately 11,456 hectares.
IR & MEDIA RELATIONS: Primoris Group Inc. 160 Eglinton Ave. E, Suite 602 Toronto, Ontario Canada M4P 3B5 Telephone: +1 (416) 489-0092 Toll-free (North America): 1-866-437-9552 ir@eaglemountaingoldcorp.com www.primorisgroup.com | ACCOUNTANTS: Smythe Ratcliffe Chartered Accountants 700-355 Burrard Street Vancouver, British Columbia Canada V6C 2G8 www.SmytheRatcliffe.com |
LEGAL REPRESENTATION: Boughton Law Corporation 595 Burrard Street #700 Vancouver, British Columbia Canada V6C 3P6 www.boughton.ca | TRANSFER AGENT: Computershare 510 Burrard Street - 3rd Floor Vancouver, British Columbia Canada V6C 3B9 www.computershare.com |
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