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Immediately after the acquisition, completed pursuant to a private transaction outside of any market or other facility -
Phillip F. Cunningham -
held an aggregate of 21,668,000 common shares of Roxmark and rights to acquire up to an additional 15,250,000 common shares of Roxmark - upon exercise of convertible securities, representing in the aggregate - approximately 17.62% and 26.71% of - the issued and outstanding common shares of Roxmark - respectively, calculated on a non-diluted - and partially diluted basis.
Approximately 750 tons of ore have been delivered to the mill so far. It is anticipated that up to 3,000 tons of molybdenum ore will be trucked 26 km from the property to the mill and processed over the next several weeks - for sale to Derek Raphael - an international buyer of molybdenum concentrate -
Following the successful completion of the surface bulk sample, Roxmark plans to further delineate - its molybdenum resources in 2007 - through underground development - drilling and bulk sampling following the driving of a production decline.
Subject to continued success - commercial mining could begin - late in the year.
Construction of a new Mine Portal - leading to underground development - is planned immediately following - completion of the surface bulk sample -
Roxmark also announced - that it has received enquiries for custom milling - at the Northern Empire Mill facility -
About Roxmark Mines - Roxmark Mines is a Canadian-based junior resource company - involved in exploration and development of Gold and molybdenum in the Geraldton-Beardmore area - of Northern Ontario.
Assets include the Nortoba-Tyson - Molybdenum mine property - an onsite mill equipped to process both Gold - and Molybdenum - and six formerly highly productive Gold mines -
which generated nearly Au two million ounces - of high Gold / ton - from some of Canada's highest Gold grade ore -
Existing infrastructure - above and below ground at these mines - will provide important advantages in developing - additional gold-bearing structures.
Just a stealthy issue yet,but with HUGE potential.
Pls.feel free to do own DD.
But act in a timely fashion,the train is slowly moving out of the station.
Enjoy the ride!!
Cheers