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HUP on action upcoming on monday on WER.V...I believe this one could do some serious number based on only 21M s/o and a 7.62 M coal intercept so 70 Kms NW of the GXS ppty, also bodes well for all the area plays as the potential scope of the deposit grows...hsb
Weststar acquires 18 Meter coal property, financing
2008-06-20 14:29 ET - News Release
Mr. Jerry Minni reports
WESTSTAR ACQUIRES "18 METER" COAL PROPERTY, ANNOUNCES PRIVATE PLACEMENT AND APPOINTS NEW DIRECTOR
Weststar Resources Corp., subject to regulatory approval, has entered into a letter of intent with a group of arm's-length vendors, pursuant to which the company has acquired 72 coal permit applications, known as the 18 Meter property, located approximately 70 kilometres northwest of the recent coal discovery of Goldsource Mines Inc. coal discovery, near the community of Hudson Bay, Sask. The coal lease applications encompass approximately 138,240 acres or 55,944 ha. The coal lease applications have been granted priority status by the Saskatchewan ministry, and the Company has been informed that processing of these permits should be completed within the next 2 - 3 weeks.
The coal permits are underlain by sandstones and shales of the Cretaceous-aged Mannville group. During a 1994 exploration program conducted by Consolidated Pine Channel Gold Corporation, an approximately 18.84 m thick coal interval between 47.70 m and 66.54 m depth was identified, at the property. The discovery was made while testing a magnetic geophysical anomaly for kimberlite. The historical drill log (TL02-2, assessment report 63E-0004) indicates:
- 47.70 m to 55.32 m (7.62 m): Coal, massive;
- 55.32 m to 66.54 m (11.22 m): Coal Breccia, from 20 to 60% angular coal clasts, mixed with varying amounts of clay, silt and sand
Neither the rank nor the grade of the coal has been determined. It should also be noted that core recoveries in the coal intersection were as low as 15%, and average less than 50% for the 7.62m interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.
Readers should note that the above information on historic work performed on the property was done prior to implementation of NI43-101, therefore the results spoken of do not comply with modern reporting standards and should not be relied upon until such time as additional work is completed on the property, including preparation of an NI43-101 report.
Although the coal was not analyzed at the time, the magnitude of coal reported within the aforementioned interval is similar to the Goldsource Discovery (26 m and 32.5 m in thickness) and confirms the regional potential for significant thicknesses of coal within Mannville-aged rocks of east-central Saskatchewan.
Cost of the acquisition includes the payment of $1,150,000 and the issuance of 3,300,000 shares of the Company on the following schedule:
- $150,000 on the signing of a Mineral Property Option Agreement (the "Agreement");
- $500,000 and 1,300,000 shares of the Company on TSX Venture Exchange approval of the Agreement;
- $500,000 and 2,000,000 shares of the Company six months after the date of TSX Venture Exchange approval of the Agreement
- The Vendors will retain a 2% Net Smelter Royalty ("NSR"), one half of which the Company may purchase for the sum of $2,000,000;
- The Vendors will retain a Flat Rate Unit of Production Royalty ("FRUP") equal to $2.00 per tonne of coal produced or sold from the Property. The Company may reduce the FRUP to $1.00 per tonne by paying the Vendors the sum of $2,000,000.
Dahrouge Geological Consulting Ltd. of Edmonton, Alberta has been retained for a period of 24 months to be used for all exploration and geological services. Dahrouge Geological and its predecessor company have worked extensively in the coal industry, performing exploration for several major coal companies.
Gordon J. Allen, P.Geo., is the qualified person who has reviewed the technical material contained in this news release.
The Company also wishes to announce that, subject to regulatory approval, it has arranged a private placement of up to 2,500,000 units at price of $0.25 per unit for gross proceeds of $625,000. Each unit will consist of one flow-through common share and one-half of one transferable share purchase warrant. Each whole warrant shall be exercisable into one non flow-through common share for a period of two years at a price of $0.40 per share. Proceeds of the placement will be used for work on the Company's mineral properties.
Finder's fees will be payable in accordance with the policies of the TSX Venture Exchange.
The Company has also granted incentive stock options to it's directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 900,000 common shares of the Company for a period of 2 years at a price of $0.30 per share, subject to Exchange approval, and shareholder approval at the Company's Annual General Meeting.
The Company also announces that Mitchell Adam has been appointed a director of the Company. Mr. Adam has 19 years experience in securities, holding the positions of officer and director of several public companies. The Company has accepted the resignation of Raj Chowdhry as director of the Company, in order to pursue other interests. The Company would like to thank Mr. Chowdhry for his service over the years.
We seek Safe Harbor.
$treet you like the OTCBB plays I see...Any comments on QMNM...looks intriquing being in the right area (coal) but fundamentals are terrible...and shares out are beastly but does it matter in a momo play prolly not...lol...ure advice would be greatly appreciated...hsb
Correction...CEY.v bottom was more like 0.12c...sorry for the misinfo...hsb
HUP cey.v(last @.18c) starting the recovery...looks like .14 was the bottom for the down leg...upwards and to the right please...hsb
gm.v playing catchup today it would appear after sitting out yesterdays move in the coals...hsb
Gmorning everyone!!!
cdb.v continuing strength this am printing .18
hsb
cdb...now trading .16 c 12M served...hsb
$treet...u watching cdb.v hmmm somethings up huuuuge bids gobbling...hsb
gxs.v hit $19.15 this am...good news for those in the coal plays...smi.v, nag.v starting to go...
gm.v printing higher on news!!!
GEO MINERALS ANNOUNCES COMMENCEMENT OF DRILLING IN ARIZONA
June 17th, 2008, VANCOUVER, B.C. – GEO MINERALS LTD. (“Geo” or the “Company”) (GM-TSX:V) announces that drilling has commenced on the Middle Mountain property near Florence, Arizona.
The target at Middle Mountain is a dismembered and tilted porphyry copper system buried beneath shallow gravel cover. The initial drill program at Middle Mountain will consist of a series of short drill holes designed to penetrate the 25-100m of gravel cover and test underlying bedrock exposures throughout the area. 18 drill sites have been permitted across the target area. The first hole to be drilled will be a diamond core hole positioned in an area of intense quartz-sericite-pyrite alteration, where an older water well hole produced cuttings with sulfide-rich veins with anomalous copper, copper-oxide minerals and visible molybdenite. The first hole is intended to establish depths to the sulfide mineralization, and provide key geologic data which will help guide further drilling across the target area. Drilling will commence along the margins of the target area, and move toward the center. Sequencing of the drill holes, and depths of drilling will be determined by data from the initial holes. As bedrock lies at shallow depths across much of the target area, most holes will be drilled to depths of 100m or less, with a few holes intended to test deeper structural levels. Initial drilling with the diamond core rig will be followed by ODEX and rotary drill methods at other drill sites.
The technical contents of this release were approved by Geo Minerals director and qualified person as defined by National Instrument 43-101, Marvin Mitchell.
About Geo Minerals Ltd.
Geo Minerals Ltd. is a Canada based mineral exploration company. The company actively seeks global opportunities with a focus on precious and base metals, as well as coal, for the benefit of all our stakeholders.
For further information we invite you to visit us at www.geominerals.ca.
GEO MINERALS LTD.
"Michael England"
President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Facsimile: 1-604-683-3988
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
send me a PM...I'm only a free visitor on this site so cannot send pm's...lol...
gm.v tracking higher now that all the selling pressure has subsided..they will grow this one....last 0.59c
Meet ? I think u meant to say...yes we should...i will be visiting my mom in Ptbo this summer maybe we can get together for a beer...hear it's been warm there? unlike the freezing our buns that we have going on out here at the moment...
hsb
westcoaster ? u?
hsb
gm.v hit .88 off the open and aix.v 0.84 congrats to the mgmt for finding these claims in a time when they are in demand.
they are gonna comeback...both currently trading low .50's
hsb
News out on GM and AIX acquiring some Potash claims should bring some increased interest to them both today!!!
hsb
Alix Resources Corp. and Geo Minerals Ltd. Acquire Potash Rights Including Land Bordering Potash North Resource Corp.
Last Update: 6/13/2008 3:01:45 AM
VANCOUVER, BRITISH COLUMBIA, Jun 13, 2008 (MARKET WIRE via COMTEX) -- ALIX RESOURCES CORP. ("Alix" or the "Company") (AIX)(FRANKFURT: 37N) and GEO MINERALS LTD. ("Geo") (GM) have signed an agreement with General Resources Inc., a private Saskatchewan company, to obtain the exclusive potash rights to a total of 84 assorted locations of freehold minerals in highly prospective potash areas of Saskatchewan. These properties total approximately 14,000 acres.
Included in this package are approximately 4,200 acres of land located 20 kilometers west of the town of Esterhazy, and approximately 25 kilometers west of the operating Esterhazy K1 and K2 underground potash mines owned by Mosaic Potash Esterhazy.
Also included are 640 acres in Manitoba along the border of Potash North Resource Corp. (PON) and located approximately 20 kilometers north-east of Potash Corporation (POT) of Saskatchewan's Bredenbury potential Greenfield Potash Mine.
President Mike England states, "We are delighted that we have been able to assemble this exceptional package of properties as part of our stated objective of creating value for all of our stakeholders. We will be providing more details, including maps and any historical data, as we obtain them."
Alix and Geo are now approaching neighboring stake holders to assemble larger land packages. In addition, the companies will be researching the database of historic drilling maintained by the Saskatchewan government and other agencies to gather any historical data available with respect to the lands contained in this agreement.
Deal terms:
A combined total of 600,000 common shares, $100,000, 60,000 warrants are payable over the two year term, evenly divided by both Geo and Alix. A 5% royalty has been granted to the vendor as well.
A finders fee will be payable in accordance with the rules of the TSX Venture Exchange.
This transaction is subject to TSX Venture Exchange approval.
For further information we invite you to visit us at www.alixresources.com and www.geominerals.ca .
Alix is a junior mineral exploration company focused on acquiring and developing potential world-class properties in North America.
Geo Minerals Ltd. is a Canada based mineral exploration company. The company actively seeks global opportunities with a focus on precious and base metals, as well as coal, for the benefit of all our stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Contacts:
Alix Resources Corp. / Geo Minerals Ltd.
Michael England
President
(604) 683-3995 or Toll Free: 1-888-945-4770
(604) 683-3988 (FAX)
Websites:
www.alixresources.com
/
www.geominerals.ca
SOURCE: Alix Resources Corp. and Geo Minerals Ltd.
http://www.alixresources.com
http://www.geominerals.ca
Copyright 2008 Market Wire, All rights reserved.
can.v seeing a little interest here finally...also in Tanzania(ie DLKM)...hsb
Gmorning $treet,
dlkm 0.93
$treet got to hand it to you job well done!!! Pretty happy with the close on cey but blown away by the HOD...
hsb
way to go street..need to leave the office for awhile so please update as u see fit and good luck everyone!!!
cheers,
hsb
.16c
cey.v on Bakken Oil Lease Acquisitions...
Trading at 0.12 - only 22 mil s/o
Century Energy (CEY-V) has agreed to purchase 100 per cent of the petroleum and natural gas rights to approximately 1,100 acres (445 hectares) in the Bakken oil formation in southern Saskatchewan. Century will acquire five Saskatchewan Crown petroleum and natural gas leases following a petroleum and natural gas purchase and sale agreement between Century and the owner of the leases, Lions Petroleum Inc., an arm's length company.
In consideration for the leases, Century will pay Lions $150,000 in cash, and Lions will retain a 3-per-cent royalty interest on the monthly production from wells drilled on the leases.
Century views the leases, which are adjacent to the Roncott/Bakken oil field, as prospective for both horizontal (exploration) and vertical (development) drilling. Century is conducting geological and engineering work on the property, and more information will be released when the work is completed.
SLT .26
dlkm .83
SLT .25
SLT .22
DLKM moving quite nicely here on chinese investing 6M $ in their tanzania ppty. Can.v update around the middle of the month I'm told...slt.v moving on rumour of a potash deal going in...(sister co to nag.v which has done extremely well on the coal front and looks like it will break away from the pack soon due to it's heavy property exposure and senior coal advisers recently added...
hsb
Geo Minerals Receives First Priority on Coal Permits in East-Central Saskatchewan
Last Update: 6/9/2008 9:52:49 AM
VANCOUVER, BRITISH COLUMBIA, Jun 9, 2008 (Marketwire via COMTEX) -- GEO MINERALS LTD. ("Geo" or the "Company") (GM) has received a "Comfort letter" from Saskatchewan Energy and Resources stating that of the coal permit applications processed to date, on behalf of Geo Minerals Ltd., 68,290 acres of issued Coal Prospecting Permits (CPP) will be given priority sequence. These Coal Prospecting Permits are in the area of interest in proximity to Goldsource Mines Inc.'s discovery. The Company has filed and fully paid for 72 Coal Disposition applications to date. All of the applications have been done in accordance with all the rules and regulations set forth by the government of Saskatchewan's permitting office.
The "Comfort Letter" received from the Saskatchewan Ministry of Energy and Resources pertains to the applications submitted on behalf of Geo on May 8th, 2008 and includes a list of dispositions applied for, the date of the submission, land description, boundary plan, affirmation of fee payment and first-year rent, the allocated Coal Prospecting Permit (CPP) numbers, and if the submission has priority over other applications.
Geo's goal, with regards to targeting coal permit applications, is to acquire permits on lands that show favorable cretaceous age coal hosting geological stratigraphy similar to Goldsource's recent discovery lands. The Company is determined to position itself in proximity to both the Pasquia Hills coal discovery area of south-east Saskatchewan and 80-100km in the Narrow Hills region where North America Gem recently acquired the Adamas discovery (see PR dated May 14th, 2008).
States President Mike England, "We are pleased to have received our first Comfort Letter and are very anxious to receive word on our further applications. We look forward to exploring these exciting new grounds as quickly as possible."
The standard issue Comfort letter states, "The extent to which the land described in these applications can be issued has not been investigated, and therefore this letter should not be construed as an indication that any land will be issued, as a full review is still to be completed."
The Company will announce any confirmation of the Coal Prospecting Permits that become validated through the government of Saskatchewan's permitting office process. The process time frame is determined by the permitting office and all companies in the process are dealt with similarly and given the same assurances and guarantees by the Government of Saskatchewan.
For further information we invite you to visit us at www.geominerals.ca .
Geo Minerals is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
SOURCE: Geo Minerals Ltd.
Geo Minerals Ltd.
Michael England
President
(604) 683-3995 or Toll Free: 1-888-945-4770
(604) 683-3988 (FAX)
Website:
www.geominerals.ca
Copyright (C) 2008 Marketwire. All rights reserved.
aix.v .275 ...cex.v .68 overhang lifting ??? pp closed??? dunno but maybe looking better...gm.v also on the move...hsb
HUP on gm.v moving...coal comfort letter coming soon? suspect so...hsb
moo.v back finding it's groove after a brutal bout of profitakingitis...hsb
$treet may want to put aix.v on watch, sudden buying interest coming in...hsb
CEX.v 10 M$ Financing Announced
CALGARY, June 4 /CNW/ - ContactExploration Inc. (TSX-V: CEX) is pleased to announce it has entered into anagreement with Canaccord Capital Corporation of Calgary, Alberta as lead underwriter on behalf ofa syndicate of underwriters, including Acadian Securities Inc., of Halifax, Nova Scotia, pursuant to which suchunderwriters have agreed to purchase, on a bought deal basis, 15,400,000 unitsof Contact at a price of $0.65 per unit. Each unitconsists of one common share of Contact and one half of a common share purchasewarrant. Each whole warrant will enable the holder to acquire one additionalcommon share of Contact at a price of $0.95 for 24months from the date of closing. Gross proceeds of the offering will beapproximately $10,010,000.
In addition, subject to regulatory approval, the underwriters will beentitled to an option, exercisable for a period of 30 days from the date ofclosing, to purchase up to an additional 2,310,000 units at the offering priceof $0.65 per unit, for additional gross proceeds of $1,501,500.
The net proceeds from this financing will be used for Contact's Nova Scotiaand New Brunswick shale gas activities and forgeneral corporate purposes.
All securities issued pursuant to this financing, including any securitiesissued in payment of commissions, will be subject to a four month hold periodcommencing on the date of closing.
hey $treet,
lots of common directors and mgmt with flx.v on this xt.v so keep a eye out for unusual activity on that one...who knows they might have some surprises in store for that one as well???
hsb
yep accdg to this release only 6.7M out...sweet for those holding...
Headline: X-Terra Resources Applies for Shales License in Lowland Quebec
Symbol: XT
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 2 /CNW Telbec/ - X-Terra Resources Corporation (XT-TSXV) is very pleased to announce that the company has received a letter from the Ministry of Natural Resources to confirm the application permits for over 120,000 hectares made on behalf of X-Terra Resources have been received and will be processed in the coming days.
The land staked is in close proximity to Junex Resources and Intragaz Exploration near Shawinigan city and Squatex Resources in the Rimouski area in the heart of the Quebec Utica-Barnett-like shale natural gaz play.
Laurent Halle stated ; "The province of Quebec represents a vast territory where minerals and hydrocarbons potential are still largely underdeveloped. At this time, X-Terra has a diversified portfolio of exciting prospects. Management expects to be able to start up work programs shortly to explore the economic possibilities of these prospects."
The company is also granting to directors, officers and consultants incentive stock options entitling the purchase of up to 500,000 shares of the Company at a price of $0.30 per share for five years pursuant to the terms of the Company's rolling stock option plan that was approved at the June 14, 2007, annual general meeting.
About X-Terra Resources:
X-Terra is a resource company focused on acquiring and exploring energy properties in Canada. X-Terra Resources has only 6,776,671 shares outstanding.
Forward-looking Statements
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of X-Terra to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by X-Terra. Accordingly, readers should not place undue reliance on forward-looking statements.
Another tight one only 6M out someone posted on another BB...will run if the interest is there...
hsb
xt.v on news they're staking shale claims in Que...
hsb
$treet- maybe we should post the company's field of operations(if we know it as a one word) so that others can decide on whether or not they feel the need to participate...may help some of the lesser informed...imho
hsb
golden cross alert...cex.v...
hsb
The beauty of tight floats and impressive news!!!