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CNC.V/CNIKF Canadian Nickel performing well here......
investment from Samsung.......
CNC.V/CNIKF...was moving higher then halted 01/11 ~3PM EST.....for news......anyone care to speculate:
1. Additional Private Placement/Investor;
2. 1st Offtake Partner announcement
3. Acquisition
4. Nothing of any significance...lol
Halted for News....... not sure what to anticipate tomorrow or even over the weekend into Monday.
Lone Clone KRR
Thanks!!! Appreciate the updates.....KRR is an excellent co. and a nice addition to the portfolio...
Art
Alexulf..... nice move late today....on some decent volume KTN.V Lets hope it holds and grows.
GLTA,
Art
Thanks Diogenes...keep up the good work....
Art
CNC.V $3.10 +.34C 12.32%
Nickel Jr Explorer behaving nicely......
ART
CNC.V
Halted Friday...all day.....hope its positive? Any ideas?
Art
CNC.V/CNIKF $2.29CAD TSX-V Canada Nickel Company
Nickel play....Timmons Ontario Halted for a full day Friday....I've never seen that before...hopefully good news...will be a long weekend ;)
GLTA,
Art
He's back!
Lone - CNC.V +.69 to $2.64C 33%
You really don't like Mark Selby? Was the President/CEO of RNC...did pretty well there for Dumont Nickel mine...and setting up your double on KRR.
Appreciate the caution on the trading.....bought this for the Nickel but got lucky with interest in zero emission batteries from the Tesla crowd.....
Art
CNC.V +.70 to $2.05
Wow! my Jr Nickel explorer +52% today...those are BobWins returns!
They announced a subsidiary focussed on zero carbon emission Nickel Cobalt and Iron in Timmons Ontario.....
https://finance.yahoo.com/news/canada-nickel-launches-wholly-owned-110000595.html
Canada Nickel Company Inc. (CNC.V)
$2.05C +0.70 (+51.85%)
At close: 3:59PM EDT
Thanks Skillz!
Karera KRR.TO .11C +20.75% to .64C on news of Eric Sprott additional investment.... +26M Shares.. (formerly Royal Nickel RNC.TO)
https://finance.yahoo.com/news/eric-sprott-significantly-increases-investment-115500206.html
I did well with him in Lakeland Gold.....
Skillz,
Are you able to adjust my portfolio for the Ticker Symbol change and for Karora Resources from RNX.TO Karora KRR.TO? Up 20% today...with Sprott increased investment...just want to make sure my #s reflect that....rare for me... ;)
https://finance.yahoo.com/quote/KRR.TO/?p=KRR.TO
BobWins,
CNC.V
Thanks for reviewing!! ....small initial position for long term....so I'll research further.
Art
Hi BobWins et al....
Picked up a few shares of CNC.V Canada Nickel Company. Would appreciate your view.
Recently public company created from Noble's Crawford Nickel-Cobalt Sulphide project near Timmons Canada. Led by Mark Selby from Royal Nickel after they took some cash from their Dumont Nickel project and focused their effort on Australia Gold. (not sure about the circumstances there...but it appears he is a Nickel guy and saw better opportunity for him there vs. RNC. I bought some RNC too...lol
Probably some pain in funding exploration and development but I like Nickel's future EV Batteries, Phillipines and Indonesia limiting exports, China demand and infrastructure spending to spur their economy....
https://canadanickel.com/
https://canadanickel.com/wp-content/uploads/2020/04/Canada-Nickel-Investor-Presentation-April-27-2020.pdf
https://resourceworld.com/selby-set-to-lead-new-canada-nickel-company/
SDCJF/$.0565; SNDE/ADR $5.65
Sundance Energy
Any opinions on this one? Seems like it may have some life in it...per their recent August Corp Presentation...
http://www.sundanceenergy.com.au/static-files/9c36829f-a72f-451b-883f-8f0e1690da84
Sundance Energy Australia Limited engages in the exploration, development, and production of oil and natural gas in the United States. The company's exploration and development activities are focused on the Eagle Ford project in the South-Texas-Gulf Coast Basin. Sundance Energy Australia Limited was incorporated in 2004 and is based in Wayville, Australia.
GLTA,
Art
VLE.TO BobWins
Just want to say Thank You! to Bobwins for this recommendation years ago...Jr. Canadian O&G that has finally moved up the ranks....
Giddyup!
Avandalay
VLE.TO +.05 7.14% to .75C took the Erdogan news in stride I guess.
Canadian NG JR in the Western part of Turkey.
GLTA,
Art
Dr Airtime...MMT.TO
Thanks for your work on this!! ....I listened to the call today and they are pursuing strategic alternatives as well as a potential rebid from Midwestern....
Presentation from their website for today's call:
http://www.martresources.com/wp-content/uploads/2015/08/MMT-Conference-Call-Aug-2015-082815.pdf
GLTA,
Art
Any thoughts regarding Mart MMT.V...stock up 25% over the past month...and another 21% to go for the .80C agreement...financing conditions should be improving from where they were a few months ago no?..... Glad to get out of some of these Legacy BOBWINS positions...lol
GLTA
Art
***********
From the definitive arrangement agreement:
"Prior to entering into the Arrangement Agreement, Mart received separate letters of confidence from
each of Rand Merchant Bank (“RMB”) and FBN Capital Limited (“FBN Capital”) with respect to
the proposed financing (“Proposed Financing”) addressed to Midwestern (and in the case of
the letter from FBN Capital, also addressed to Mart) where RMB and FBN Capital each
expressed confidence that Midwestern would be able to complete the Proposed Financing
subject to the limitations of capital markets for equity financing"
MMT.TO
I'm actually taking the longer view...view the Shell sale as more a story about Shell's need for short term results via a gain on the sale then the future of Nigeria...maybe nieve but trust in country mgt to be close enough to know an opportunity when they see it...
GLTA,
Art
OT (KMI)
A large cap energy...but thought you might like to know Kinder Morgan increased their dividend....for shareholders of record..7/31/13....
Giddyup - Art
Kinder Morgan, Inc. (KMI) owns and operates energy transportation and storage assets in the United States and Canada. July 17, the company increased its quarterly distribution 7% to $1.32 per unit. The distribution is payable on August 14, 2013, to unit holders of record as of July 31, 2013. The yield based on the new payout is 4.0%.
bbotcs,
thanks for your message. Yes I think gold and silver will rebound both from technicals and the fall federal budgeting issues we will see again...I like GORO and AG....
Do you have any recommendations for the Cash in my 401K? Was thinking of moving some into foreign denominated cash/currency funds...
Good luck in the PSL24.
Art
MLG.TO/MLGAF Tungsten "producer"
May take a high flier on tungsten miner Malaga. Peruvian mine has been shut since late fall with power issues and looking for financing. About due for announcement on return to production.
Art
Malaga Enters Into Loan Facility with a Peruvian Bank and Provides Update on Mining Operations
Malaga Enters Into Loan Facility with a Peruvian Bank and Provides Update on Mining Operations
MONTRÉAL, QUÉBEC--(Marketwire - Dec. 20, 2012) -Malaga Inc. ("Malaga" or the "Corporation") (TSX:MLG)(OTCQX:MLGAF) is pleased to announce that it has entered into a $2 million loan agreement with a Peruvian bank for a term of 36 months secured by the real estate in Lima. Proceeds in the amount of $1.5M was received today.
Malaga has entered into a contract to sell all the copper by-product it currently has at the Pasto Bueno mine. This transaction should be completed by the end of the current year. As well, Malaga reimbursed the $1.0M CDN note payable plus accrued interest on the maturity date, November 30, 2012, as part of its asset monetization program. Notwithstanding the above, the Corporation requires additional sources of funding before restarting the operations. As such, the Corporation is continuing its efforts to secure a permanent financing via debt or equity.
In addition, the Corporation is also pleased to announce that the repairs to the hydro-electric line and the transmissions poles that were damaged have been completed successfully.
"The repair of the hydro-electric line and the bank financing are the initial steps to get back into operations. The mine plan was reviewed and once we secure the necessary financing, we intend to restart production" said Pierre Monet, President and CEO. "We continue to work closely with our stakeholders to mitigate the consequences of suspending our operations".
sorry wrong board...
SWN.V Selwyn sells largest Zinc deposit in the world to Chihong Mining....
Art
Selwyn Resources Announces Agreement to Sell Remaining Interest in Selwyn Project Joint Venture for $50 Million
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn" or the "Company") announces that it has entered into an asset and share purchase agreement (the "Purchase Agreement") with Chihong Canada Mining Ltd. ("Chihong Canada") and Selwyn Chihong Mining Ltd. ("SCML") to sell the Company''s remaining 50% joint venture interest in the Selwyn zinc and lead project located in the Yukon Territory (the "Joint Venture") for $50 million in cash.
Dr. Harlan Meade, President and Chief Executive Officer of Selwyn, stated: "The decision to sell Selwyn''s 50% joint venture interest in the Selwyn Project reflects the realization of the large capital requirements that will be needed to advance the Selwyn Project to production and the associated risks to Selwyn shareholders, including but not limited to, the potential for significant dilution of shareholders'' equity in the Selwyn Project. At a time of reduced industry interest in undeveloped mineral deposits, Selwyn is satisfied that the timing of this transaction and the purchase price negotiated are in the best interests of the shareholders."
TERMS OF THE PURCHASE AGREEMENT
The Joint Venture was established pursuant to a joint venture agreement (the "JV Agreement") dated June 2, 2010 between Selwyn, Chihong Canada and SCML, the operator of the Joint Venture. Under the terms of the Purchase Agreement, Selwyn has agreed to sell to Chihong Canada (the "Transaction") all of its interest in the Joint Venture, including the shares of SCML that it owns. After completion of the Transaction, the Company will have no further interest in the Selwyn Project, and the JV Agreement will be terminated.
Completion of the Transaction is subject to certain conditions, including Selwyn shareholder approval, approval of the board of directors of Yunnan Chihong Zinc & Germanium Co., Ltd. (parent company of Chihong Canada) and certain Chinese governmental approvals. Chihong Canada has entered into support and voting agreements with certain significant shareholders of Selwyn. Such shareholders hold, in aggregate, approximately 41% of Selwyn''s outstanding common shares.
The terms and conditions of the Transaction will be disclosed in an information circular that is expected to be mailed in late March 2013 to the shareholders of Selwyn. If all conditions to closing are satisfied, including the receipt of Selwyn shareholder approval and the necessary regulatory approvals, it is anticipated that the Transaction will be completed by early June 2013.
Purchase Price Deposit
Chihong Canada has provided a cash deposit of $5 million as an advance of the purchase price. A second deposit of $5 million will be paid on or about April 9, 2013, provided Selwyn is not in default of any of its obligations and covenants required to be performed under the Purchase Agreement. Chihong Canada will pay the remaining amount of the purchase price at closing of the Transaction.
If the Transaction does not close, the deposits must be refunded to Chihong Canada, except where the failure to close the Transaction is the result of the failure of Chihong Canada to (i) comply with the terms of the Purchase Agreement, or (ii) obtain its necessary parent and Chinese governmental approvals for the Transaction. The refund of the deposits, if necessary and if not promptly paid in cash, will be carried out by Chihong Canada converting the outstanding deposit amount into a corresponding increase in its interest in the Joint Venture. If the entire $10 million of deposit funds are converted, Chihong Canada''s interest in the Joint Venture would increase to 60%, and Selwyn''s interest would decrease to 40%.
Conditions to Closing
The completion of the Transaction is subject to certain conditions, including the following:
the approval of the Transaction by at least 66 2/3% of the votes cast by Selwyn shareholders at an annual and special meeting of shareholders expected to be held in late April 2013;
approval of the board of directors of Yunnan Chihong Zinc & Germanium Co., Ltd. (parent company of Chihong Canada) and certain Chinese governmental approvals;
holders of no more than 10% of the issued and outstanding Selwyn common shares having exercised dissent rights in respect of the Transaction;
approval of the TSX Venture Exchange; and
the fulfillment or waiver of certain customary closing conditions set out in the Purchase Agreement.
Covenants, Representations and Warranties and Indemnities
Each of Selwyn and Chihong Canada has agreed in the Purchase Agreement to certain customary covenants relating to its conduct with respect to obtaining the approval of requisite regulatory authorities and the shareholders of Selwyn. Under the Purchase Agreement, Selwyn has agreed not to solicit alternative proposals, and Chihong Canada has 10 business days to match any alternative proposals that constitute a "Superior Proposal" under the terms of the Purchase Agreement. Chihong Canada is also entitled to a $2.5 million termination payment in the event that Selwyn accepts a Superior Proposal, makes a "change in recommendation" with respect to the Transaction, breaches a representation or warranty or commits a breach of the Purchase Agreement. Any Superior Proposal must provide for the repayment to Chihong Canada of the deposit funds and the payment to Chihong Canada of the termination payment payable under the Purchase Agreement.
The Purchase Agreement also contains limited representations and warranties relating to the Company, the Company''s Joint Venture interest and Chihong Canada. For a period of 12 months after completion of the Transaction, Selwyn has agreed to indemnify Chihong Canada against all losses suffered by Chihong Canada due to any warranties or representations made by Selwyn under the Purchase Agreement being untrue or due to a breach by Selwyn of any term, agreement or covenant in the Purchase Agreement.
USE OF PROCEEDS
The net proceeds from the sale of Selwyn''s interest in the Joint Venture, after repayment of the Waterton Facility, will be used toward restarting the ScoZinc Mine and general corporate purposes. The restart of the ScoZinc Mine is an important near term strategic objective in advancing Selwyn to becoming a producing company. The completion of project financing and the achieving of production at the ScoZinc Mine will fulfill Selwyn''s longer term objective of becoming a producing mining company over the intermediate term. The sale of Selwyn''s interest in the Selwyn Project is seen as the reasonable best alternative for achieving this goal and addressing current obligations to creditors.
LIQUIDITY AND CAPITAL RESOURCES
In April 2012 the Company entered into a $10 million debt facility (the "Waterton Facility") with Waterton Global Value, L.P. ("Waterton"), and the Company has drawn down the full $10 million available under the Waterton Facility. After making the second $1.5 million principal repayment to Waterton on January 2, 2013, the Company has been taking steps to preserve a level of cash flow sufficient to maintain current operations. As previously disclosed, without securing additional financing, the Company would not have sufficient working capital to fund operations.
In late December 2012 and early January 2013, the Company had negotiated a term sheet with a potential lender for a bridge financing facility ("Bridge Facility") and was working towards closing. The funds from the Bridge Facility would have been used to extinguish the Waterton Facility and would have provided additional working capital. The repayment terms of the Bridge Facility would have provided the Company with an extended time period for repayment, and thus increased financial flexibility. After extensive due diligence and the completion of full loan documentation, the potential lender advised Selwyn that it no longer wished to complete the transaction.
The Company''s liquidity position has deteriorated as a result of various factors, including, an inability to secure additional sources of financing to fund its future obligations under the JV Agreement or for the restart of its ScoZinc Mine in Nova Scotia, and its obligation to make payments under the Waterton Facility.
Absent the Transaction, and in light of current equity market conditions, it is unlikely that the Company would be able to raise the funds necessary to maintain operations and achieve its objectives, and as a result, there has been significant doubt cast on the Company''s ability to continue as a going concern. In addition, absent the Transaction, the Company would also need to raise funds to fund any required commitments to complete the Pre-Development Program Objectives under the terms of the JV Agreement. A failure to raise such funds would result in a dilution of its 50% interest in the Joint Venture.
CURRENT STATUS OF THE SELWYN PROJECT AND JOINT VENTURE
On November 19, 2012, the Company announced that the SCML management committee had confirmed a plan and budget for the completion of a feasibility study based on the revised 3,500 tonne per day mining and milling plan. The Company expects that the work to complete the feasibility study will be completed by early April 2013, with the finalization of the feasibility study expected in May 2013.
As of today''s date, there remains approximately $2.97 million of cash in the Joint Venture account into which Chihong Canada had contributed $100 million upon establishment of the Joint Venture. Upon completion of the remaining Joint Venture expenditures, Chihong Canada will have earned a 50% interest in the Joint Venture. The Company expects that, under the terms of the JV Agreement, Selwyn will be required to contribute additional funds to the Joint Venture in order to complete the Joint Venture''s Pre-Development Program Objectives. The Company also expects that, in the interim period until the Transaction is completed, it will be able to use the deposit funds to satisfy its required contributions toward Pre-Development Program Objectives.
Forward looking Statements
This press release contains forward-looking statements and forward-looking information (collectively referred to as "forward-looking statements") regarding the expected timeline for holding the meeting of Selwyn shareholders, receipt of necessary approvals and completion of Transaction, as well as the expected use of proceeds from the Transaction, the timing for completion of the feasibility study for the Selwyn Project, Selwyn''s expected financial position and the advancement of the ScoZinc Mine. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of the ability to obtain shareholder and regulatory approvals, market conditions for securities, commodities prices, the results of exploration activities and engineering studies, the availability of capital on terms acceptable to Selwyn, and other risk factors beyond Selwyn''s control.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Selwyn''s actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, many of which are beyond Selwyn''s control. These factors include, but are not necessarily limited to, regulatory review, the results of the work conducted to prepare the feasibility study for the Selwyn Project, results of the restart program at the ScoZinc Mine, exploration and development activities, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt of permits to conduct mining activities, project cost overruns or unanticipated costs and expenses, the availability of funds, fluctuations in metal prices, currency fluctuations, and general market and industry conditions. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on this information. Selwyn does not undertake to update any forward-looking statements, except as, and to the extent required by, applicable securities laws. For more information about the risks and challenges of Selwyn''s business, investors should review Selwyn''s Annual Information Form dated March 28, 2012 and its management''s discussion and analysis available at www.sedar.com.
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 release.
Contact Information:
Selwyn Resources Ltd.
Dr. Harlan Meade, President and CEO
(604) 801-7240 or Toll-free: 1-888-989-9188
International toll-free: 800-7581-2133
(604) 689-8355 (FAX)
info@selwynresources.com
www.selwynresources.com
AAB.TO/
Dacha Strategic Metals Inc. and Aberdeen International Inc. Announce Business Combination
BY Marketwire - Canada
— 5:00 PM ET 08/15/2012
TORONTO, ONTARIO--(Marketwire - Aug. 15, 2012) - Dacha Strategic Metals Inc. (DCHAF) ("Dacha") (OTCQX:DCHAF) and Aberdeen International Inc. (AABVF) ("Aberdeen") are pleased to announce that they have entered into a definitive agreement (the "Business Combination Agreement") pursuant to which Dacha and Aberdeen will, subject to shareholder, court and regulatory approvals, enter into a plan of arrangement pursuant to which Dacha will acquire all of the outstanding shares of Aberdeen and Aberdeen will become a wholly owned subsidiary of Dacha (the "Transaction"). Under the terms of the Transaction, shareholders of Aberdeen will receive 0.80 of a Dacha common share for each common share of Aberdeen held. The board of directors of each company has unanimously approved the Transaction. Upon completion of the Transaction, existing Dacha and Aberdeen shareholders will own approximately 52% and 48% of the combined company, respectively, on a basic shares outstanding basis.
Based on the 20-day volume weighted trading price ("VWAP") of Dacha's common shares on the TSX Venture Exchange (the "TSXV") of $0.517 and the 20-day VWAP of Aberdeen's common shares on the Toronto Stock Exchange (the "TSX") of $0.384 for the period ending August 14, 2012, the Transaction represents a premium of approximately 7.6% to Aberdeen. On August 14, 2012 the closing prices of the Dacha common shares and the Aberdeen common shares were $0.50 and $0.40, respectively.
MLG.TO/MLGAF.PK
Picked up some Malaga Mining. Tungsten producer with the Pasto Bueno Mine in Peru. Produces 10% of the Tungsten mined outside of China. Caused me some pain a few yrs back when it emerged from Dyncor but I think they are making a lot of progress and the price and availability of Tungsten is in their favor.
GLTA
Art
For the full year 2011, Malaga generated a net income of $5.6 million ($0.03 per share), compared to a net income of $1.2 million ($0.01 per share) in 2010. This performance resulted from an average reference selling price increase per metric tonne unit (MTU) of $184 (77%), from $240 in 2010 to $424 in 2011.
Sales increased to $20.9 million during the year, up 47% from $14.2 million in 2010. This includes $1.9 million from copper sales, a by-product at Pasto Bueno, in line with copper sales for 2010. For the fourth quarter of 2011, sales were $5.6 million, compared with the fourth quarter of 2010 at $3.3 million in 2010.
Sales of tungsten in MTU amounted to 60,602 in 2011 compared to 70,407 in 2010, and due to a lower head grade of 0.67% compared to 0.81% in 2010, the actual production output was 55,357 MTU compared to 71,996 MTU in 2010.
The 2011 cash cost of production was $167 per MTU, up from $134 per MTU for the same period a year ago. The Company identified the main causes and managed to reduce and control costs for the second half of the year. However, a temporary shortfall of production in December due to permit delays had a negative impact on production output and costs. The Company believes that continued control of the average cost of production is achievable during 2012.
The Company believes that demand for tungsten will continue to grow and prices of APT will continue to rise, as it expects supply will remain limited in the near future. In addition, China has cut its export quotas for antimony, indium, tungsten, molybdenum and tin by up to 5% for 2012 as it continues to protect its metal resources.From 2007 to 2010, world tungsten production ranged from 54,500 tonnes to 68,800 tonnes. During that same period, China produced 83% of the world’s tungsten, or between 41,000 and 59,000 tonnes per year. On March 27, 2012, the APT price was $430.
Barrons Article:
http://online.barrons.com/article/SB50001424052748703786004577221330031553296.html
Malaga Website:
http://www.malaga.ca/malaga/en/index.php
10Bagger,
Interesting execution on your previous MSEH.PK order....did you place 8888 purchase and it executed 8000 & 88? Chinese numerology?? lol
Art
10Bagger - SMBMF.PK
SEMBCORP MARINE LTD (SMBMF.PK)
Do you still like Sembcorp Marine? Singapore Marine Engineering Co.
Thanks,
Art
Business Summary
Sembcorp Marine Ltd, an investment holding company, engages in the marine and offshore engineering business primarily in Singapore, rest of Asia, and Europe. It offers ship repair services to tankers of various sizes, including mid-sized tankers, very large crude carriers, and ultra large crude carriers; and repairs chemical tankers, container vessels, passenger ships, LNG and LPG gas carriers, dredgers, bulk carriers, derrick barges, and navy vessels. The company also designs and constructs product tankers of about 11,500 deadweight tones (dwt); container carriers of about 1,078 TEU to 2,600 TEU; tankers of about 90,000 dwt; ocean-going tugs; ice-class chemical tankers; multi-purpose cargo vessels; containerships; ice-breaking tugs; ro-ro vessels; bulk carriers; and cable laying and repair vessels. In addition, it engages in the conversion of tankers to floating production storage offloading units and floating storage offloading units; reconstruction of derrick/crane semi-submersible to floating production units; and conversion of dynamic positioning pipe-laying and construction barge, as well as repair and upgrading of jack-up drilling rigs, and upgrading of semi-submersible rigs for deep-water drilling. The company?s specialized ship conversion services include the conversion of tankers to lightering vessels, cargo vessels to livestock carriers, cargo vessels to container ships, power barge conversions, and the jumboisation and dejumboisation of vessels. Further, it is involved in the engineering, procurement, construction, transportation, installation, offshore hook-up, and commissioning of offshore production platforms and floating production facilities for the oil and gas industries, as well as in rig building. The company was formerly known as Jurong Shipyard Ltd and changed its name to Sembcorp Marine Ltd in January 2000. The company was incorporated in 1963 and is based in Singapore. Sembcorp Marine Ltd is a subsidiary of Sembcorp Industries Ltd.
Coin,
I'm assuming you don't like Silver miners in 2012.....if you did, any recommendations?
Art
PBG.TO PetroBank Energy
tomorrowsgains/stockpeeker...
PetroBank perfoming well in the last few months and up strongly today....long overdue.
Art
Last Trade: 11.03
Trade Time: 11:56AM EST
Change: 0.67 (6.47%
SUE.TO $75M financing @1.73 per share...43.4K Shares...
Art
****
Sulliden Announces $75 Million Bought Deal FinancingTORONTO, ONTARIO--(Marketwire - Nov. 3, 2011) -
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Sulliden Gold Corporation Ltd. ("Sulliden", the "Company") (TSX:SUE)(OTCQX:SDDDF)(BVLAC:SUE) is pleased to announce that it has entered into an agreement with National Bank Financial Inc. and Cormark Securities Inc. as co-lead underwriters on behalf of a syndicate of underwriters to be formed (the "Underwriters"), for the issuance of 43,353,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of $1.73 per Share for gross proceeds of $75,000,690 (the "Offering").
The Company will also grant to the Underwriters an option, exercisable at any time until 5:00 p.m. on the 30th day following the closing, to purchase up to an additional 6,500,000 Shares.
The net proceeds from the Offering will be used by the Company to expand the exploration program at the Shahuindo project given recent exploration results, to acquire the existing net smelter royalty on the Shahuindo project, to acquire additional mining concessions adjacent to the Shahuindo project, and to fund other advancement activities at the Shahuindo Property and for general corporate purposes.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The Offering is scheduled to close on or about November 29, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.
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 "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
ABOUT SULLIDEN
Sulliden is a Canadian-based precious metals company focused on the exploration and development of the Shahuindo Gold and Silver Project, located in a prolific gold producing district in northern Peru. This project neighbours world class mines, including Barrick Gold's Lagunas Norte Mine 30 kilometres to the south and the Yanacocha Mine operated by Newmont Mining Company 80 kilometres to the north. While the Company progresses towards its goal of becoming a gold producer, a significant focus is also being placed on exploration drilling. Sulliden is led by a strong management team with the proven ability to develop, finance and operate mining projects and is poised to generate superior value for its shareholders.
On behalf of Sulliden Gold Corporation Ltd.
Peter Tagliamonte
President and CEO
Stan Bharti
Chairman
For further information on Sulliden please visit the company website at www.sulliden.com.
AAB.TO +.09 to $.73CDN
Interesting, Aberdeen to get paid on their $10M loan.... robbed of $1M but they see some cash at a time of interesting resource plays/valuations and smelter royalties....tough business these guys are. Could be interesting to watch with Sulliden Gold doing well.... I am sure Kozuh would have held out for the full amount.lol
Art
*******
Aberdeen Reports Binding Settlement of Claim Against Simmer & Jack for US$9,000,000 and Continued Payment of Net Smelter Royalty
10/11/2011 7:00 AM - Market Wire
TORONTO, ONTARIO, Oct 11, 2011 (Marketwire via COMTEX News Network) --
ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) is pleased to announce that through negotiations with Village Main Reef Limited (formerly Simmer & Jack Mines) it has reached a settlement for the outstanding claim of US$10,000,000 loan principal and balance payable on the graduated gold royalty from the fourth quarter of calendar 2008.
Village Main Reef has agreed to pay Aberdeen an amount of US$9,000,000 in cash and will continue to pay Aberdeen in perpetuity the 1% net smelter royalty on the gold produced from the Buffelsfontein mine. The US$9,000,000 will be payable in installments, with US$4,000,000 due immediately. The remaining US$5,000,000 plus interest (at the rate of 10% per annum), is payable in five equal monthly installments, the first of which shall be payable on October 25, 2011. The remaining four installments will be payable on the twenty-fifth day of each succeeding month. Village Main Reef has provided a corporate guarantee in respect of both the installment payments under the settlement and Aberdeen's continuing 1% Net Smelter Royalty.
George Faught CEO stated "we are pleased that the unpaid amount from Simmers has finally been resolved to our satisfaction and we look forward to the successful turnaround of the Buffelsfontein gold mine, on which we hold a 1% gold royalty. The funds received from this settlement come at an opportune time when we are being presented with a number of attractively valued resource projects."
Aberdeen loaned US$10,000,000 to Simmer & Jack Mines, Limited ("Simmers") in December 2005. The loan had a three-year term maturing December 31, 2008, a 2.5% coupon at gold prices above US$400 per ounce and a graduated net smelter royalty ("NSR"), tied to the price of gold. The NSR was payable against gold produced from Simmers' northwest assets and included First Uranium Corporation's Mine Waste Solutions tailings recovery operation.
The loan also had an option that allowed Aberdeen to call for its conversion into equity of Simmers, subject to Simmers shareholders' approval. On October 16, 2008, the Company called for conversion to equity and a shareholder vote was held on February 16, 2009, where Simmers' shareholders voted against the conversion. As a result, it was Aberdeen's position that the US$10,000,000 loan was due as of its maturity date of December 31, 2008, and Aberdeen was entitled to a 1% life of mine NSR on the gold produced on the underlying assets.
However, Simmers took the position that the request for conversion into equity caused the loan facility to terminate, ending the remaining graduated royalty payment and Aberdeen forfeiting repayment on the US$10,000,000 principal and remaining interest payments.
As a result, Aberdeen engaged legal counsel and filed a claim against Simmers to recover the outstanding US$10,000,000 principal and balance payable on the graduated gold royalty from the fourth quarter of calendar 2008.
About Aberdeen International Inc:
Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and/or (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Company's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.
Bob,
Appreciate you thoughts on CCJ and Uranium Jrs... Friend of mine in the sales end of the Uranium industry toured the Cigar Lake mine and said things are looking good.... there are 63 nuclear plants in the works worldwide (China/Russia/India)....the uranium ETF is down 60% this year but has net new inflows...wondering if now is a good time for exposure....
Art
http://seekingalpha.com/article/295414-5-resource-companies-ready-to-rally-significantly?source=yahoo
CRK.TO +.04CD to $.72CD...gettting a decent move again today...
Art
UPDATE 1-Crocodile Gold extracts first Cosmo mine ore
Sept 15 | Thu Sep 15, 2011 10:51am EDT
Sept 15 (Reuters) - Crocodile Gold said it extracted the first ore from its Cosmo underground mine in Australia on time and budget, and expects the mine to reach full output in the second-half of next year, sending its shares up as much as 5 percent.
The ore was processed at the company's Union Reefs processing facility in Northern Australia.
The Canadian company said gold grades confirmed previous results and averaged up to 10.7 grammes a tonne.
Shares of the Toronto-based company were trading at 65 on Thursday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Sriraj Kalluvila)
VER.V - Steelpiston,
Vecta had a deadline of May 31st for the JV deal closure. No announcement so far...hopefully not another delay....they are adding Bakken acreage and everything else looks good if we can get some closure on the JV and financing. Patience definately required...
Art
Bob/db7, LEA.v/LDRXF.PK
Showing continued weakness after months of strengh...but as you guys pointed out, in a few weeks they are expected to report Q4 Revenue of $26M CAD. They say Mar-May is their seasonably weakest but with the financing and resurgence of NG in the region...well - Giddyup for 2012....adding to my major plays..next to my VER.V
Art
******** Feb14 NR;
Leader continues to experience robust demand for its services. Revenue for the year ended
December 31, 2010 will approximate $26 million. In addition, revenue for the current year to
date is higher than previously expected. In 2011, the Company is planning a modest capital
expenditure program including new coiled tubing, nitrogen, and fluid pumping equipment.
Leader anticipates releasing fiscal 2010 results during the third week of April 2011.
Kozmania.
I am not the expert...but I don't believe so...the CO2 is a major secondary benefit to the VER play though....
GLTA.
Art