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« ...Friendly All-Cash Agreement for Nevsun to be Acquired by Zijin Mining for US$1.41 billion
« ...Nevsun's Board of Directors unanimously recommends that you ACCEPT Zijin's friendly offer.
In the Board's view, Zijin's all-cash offer of C$6.00 per Nevsun share is:
Represents an attractive premium
Certain and immediate liquidity for shareholders
$1.25 per share, or 26% premium to Lundin's hostile takeover bid of C$4.75 per share
Please see below for more details about the Zijin offer. We will continue to update this page with new materials as they become available, and we urge our shareholders to return regularly.
https://www.nevsun.com/investors/strategicreview/
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/714-tsx/nsu/51682-friendly-all-cash-agreement-for-nevsun-to-be-acquired-by-zijin-mining-for-us-1-41-billion.html
I hope KERR Mines is not targeted next for an acquisition ?
http://www.zijinmining.com
« ...Friendly All-Cash Agreement for Nevsun to be Acquired by Zijin Mining for US$1.41 billion
« ...Nevsun's Board of Directors unanimously recommends that you ACCEPT Zijin's friendly offer.
In the Board's view, Zijin's all-cash offer of C$6.00 per Nevsun share is:
Represents an attractive premium
Certain and immediate liquidity for shareholders
$1.25 per share, or 26% premium to Lundin's hostile takeover bid of C$4.75 per share
Please see below for more details about the Zijin offer. We will continue to update this page with new materials as they become available, and we urge our shareholders to return regularly.
https://www.nevsun.com/investors/strategicreview/
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/714-tsx/nsu/51682-friendly-all-cash-agreement-for-nevsun-to-be-acquired-by-zijin-mining-for-us-1-41-billion.html
I hope KERR Mines is not targeted next for an acquisition ? http://www.zijinmining.com
« ...Kerr Mines (KERMF) 0.11569 Down -0.01431 (-11.01%)
Volume: 7,522 @ 2:53:14 PM EDT ET
https://kerrmines.com/investors/
« ...Gold prices rose on Wednesday from an 11-day low as the U.S. dollar eased from its recent rally.
Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, making bullion more expensive for buyers with other currencies.
The greenback slipped on Wednesday after a report that Germany would be ready to accept a less detailed agreement on the UK's future economic and trade ties with the EU in a bid to get a Brexit deal done. That boosted the pound and the euro.
With gold still close to a 1-1/2 year low of $1,159.96 an ounce touched last month, there is little room for prices to fall, Julius Baer analyst Carsten Menke said.
"Gold is showing signs of bottoming," he said.
https://www.cnbc.com/2018/09/05/gold-markets-trade-emerging-markets-and-dollar-in-focus.html
Kerr Mines (KER) 0.15 DOWN -0.015 (-9.09%)
Volume: 70,200 @ 3:58:57 PM EDT ET
https://kerrmines.com/investors/
« ...Gold prices rose on Wednesday from an 11-day low as the U.S. dollar eased from its recent rally.
Gold has fallen 1.5 percent from an Aug. 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, making bullion more expensive for buyers with other currencies.
The greenback slipped on Wednesday after a report that Germany would be ready to accept a less detailed agreement on the UK's future economic and trade ties with the EU in a bid to get a Brexit deal done. That boosted the pound and the euro.
With gold still close to a 1-1/2 year low of $1,159.96 an ounce touched last month, there is little room for prices to fall, Julius Baer analyst Carsten Menke said.
"Gold is showing signs of bottoming," he said.
https://www.cnbc.com/2018/09/05/gold-markets-trade-emerging-markets-and-dollar-in-focus.html
« ...MOSCOW/BEIJING -- Russia is gearing up to carry out its biggest war games in nearly four decades, inviting China to showcase their growing military cooperation amid the countries' increasing friction with the U.S.
The Vostok-2018 exercises, slated for Sept. 11-15 in the Russian Far East, will be the country's largest since Soviet-era games in 1981, Defense Minister Sergei Shoigu said Tuesday. They will take place in coastal areas like Sakhalin and Kamchatka, and likely extend into an area close to islands disputed by Moscow and Tokyo.
Russia will mobilize roughly 300,000 troops, more than 1,000 aircraft and about 36,000 tanks and armored vehicles, as well as its northern naval fleet. China will send a force of about 3,200 troops, 30 aircraft and 900 vehicles to join in exercises east of Siberia's Lake Baikal, near the borders with China and Mongolia.... »
https://asia.nikkei.com/Politics/International-Relations/Russia-flaunts-China-ties-with-massive-Far-East-war-games?utm_source=paid.outbrain.com&utm_campaign=BA%20CAN%20lookalike15%25&utm_medium=referral
« ...The bulls, on the other hand, have to lift prices above 1208 to make a run for 1214-1212.40. If this resistance is broken, it is likely that the market will test the 1218 level. A break through there brings in 1226-1224.50. The bulls have to produce a daily close above 1226 to challenge the next barrier in the 1238/5 zone.... »
https://menafn.com/1097383615/Gold-Price-Remains-in-Narrow-Range
« ...LABOR DAY 2018 saw global gold bullion prices edge back to $1200 per ounce in quiet trade on Monday, down 0.3% for the day, as US markets stayed closed for the end-of-summer holiday.
Asian and European equities ticked lower, also in quiet trading, as crude oil rose to 2-month highs and the other precious metals held firmer than gold.
Silver slipped 3 cents per ounce to $14.51 by mid-afternoon in London as platinum prices added 50 cents from Friday's finish to trade at $788.
Betting against silver prices by hedge funds and other 'Managed Money' traders last week grew for the 4th week running on Comex futures and options, approaching April 2018's record-heavy levels according to US regulator the CFTC's data series.
Managed Money betting against platinum meantime reached a new record, with that group's bearish positions outnumbering its bullish bets for the 21st week in succession.
Comex gold contracts have, over the last 10 years, seen the Managed Money group of traders average a positive weekly bet equivalent to $16.2bn of metal.
https://www.bullionvault.com/gold-news/gold-price-090320181
« ...LABOR DAY 2018 saw global gold bullion prices edge back to $1200 per ounce in quiet trade on Monday, down 0.3% for the day, as US markets stayed closed for the end-of-summer holiday.
Asian and European equities ticked lower, also in quiet trading, as crude oil rose to 2-month highs and the other precious metals held firmer than gold.
Silver slipped 3 cents per ounce to $14.51 by mid-afternoon in London as platinum prices added 50 cents from Friday's finish to trade at $788.
Betting against silver prices by hedge funds and other 'Managed Money' traders last week grew for the 4th week running on Comex futures and options, approaching April 2018's record-heavy levels according to US regulator the CFTC's data series.
Managed Money betting against platinum meantime reached a new record, with that group's bearish positions outnumbering its bullish bets for the 21st week in succession.
Comex gold contracts have, over the last 10 years, seen the Managed Money group of traders average a positive weekly bet equivalent to $16.2bn of metal.
https://www.bullionvault.com/gold-news/gold-price-090320181
Agreed, Pandion probably wants to see which direction the gold price is headed prior to fully committing imho
http://pandionmetals.co
« Gold Is Heading to $1,400 If Trade War Breaks Out, According to Sprott.... »
« ...Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc., who’s been involved in the market for four decades.
Bullion could top $1,400 an ounce in 2018 as escalating trade tensions drive investors to havens and the three-decade bull market in bonds nears an end, said Rule, who’s due to speak at a conference in Hong Kong on Wednesday. Spot gold traded at $1,337.50 Tuesday after three straight quarters of gains, while exchange-traded fund holdings are around the highest in half a decade.... »
« ... President Donald Trump has ordered import tariffs on steel and aluminum and sought new restrictions on Chinese investment. Asia’s top economy retaliated by imposing its own levies on Monday, while the U.S. is expected to release this week a new list of Chinese products to be slapped with duties. A trade war could crimp demand for U.S. assets just as the budget deficit swells, with the dollar vulnerable should international buyers shun American debt.... »
https://www.bloomberg.com/news/articles/2018-04-02/gold-to-top-1-400-as-sprott-s-rule-sees-winnerless-trade-war
We shall see $1400 POG ? If Sprott management is right these KERR shares are a bargain imho
http://sprott.com/investment-strategies/physical-bullion-trusts/
« Gold Is Heading to $1,400 If Trade War Breaks Out, According to Sprott.... »
« ...Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc., who’s been involved in the market for four decades.
Bullion could top $1,400 an ounce in 2018 as escalating trade tensions drive investors to havens and the three-decade bull market in bonds nears an end, said Rule, who’s due to speak at a conference in Hong Kong on Wednesday. Spot gold traded at $1,337.50 Tuesday after three straight quarters of gains, while exchange-traded fund holdings are around the highest in half a decade.... »
« ... President Donald Trump has ordered import tariffs on steel and aluminum and sought new restrictions on Chinese investment. Asia’s top economy retaliated by imposing its own levies on Monday, while the U.S. is expected to release this week a new list of Chinese products to be slapped with duties. A trade war could crimp demand for U.S. assets just as the budget deficit swells, with the dollar vulnerable should international buyers shun American debt.... »
https://www.bloomberg.com/news/articles/2018-04-02/gold-to-top-1-400-as-sprott-s-rule-sees-winnerless-trade-war
We shall see $1400 POG ? If Sprott management is right these KERR shares are a bargain imho
http://sprott.com/investment-strategies/physical-bullion-trusts/
KERR Mines 1055 Westlake Drive, Suite 300
Berwyn, Pennsylvania 19312 USA
647-229-0503
https://www.sec.gov/Archives/edgar/data/1726685/000160383217000004/xslFormDX01/primary_doc.xml
I must admit; I extremely pleased to see that Kerr Mines’ principal place of business is in the USA...
https://markets.ft.com/data/equities/tearsheet/summary?s=KER:TOR
KERR Mines 1055 Westlake Drive, Suite 300
Berwyn, Pennsylvania 19312 USA
647-229-0503
https://www.sec.gov/Archives/edgar/data/1726685/000160383217000004/xslFormDX01/primary_doc.xml
I must admit; I extremely pleased to see that Kerr Mines’ principal place of business is in the USA...
https://markets.ft.com/data/equities/tearsheet/summary?s=KER:TOR
« ... One that comes to mind was South32 Ltd. (S32:ASX), the Australian base metals and industrial metals company, buying Arizona Mining Inc. (AZ:TSX), which owns a sizable base metal deposit, very well located near I-10 in Arizona, with a multidecade mine life. There are nearby properties that are also coming into play that have the same feeder zones that may also be part of a larger transaction going forward.
Companies are more comfortable with their balance sheets and with the markets. The new tax plan for companies in the U.S. has certainly helped. It improved the economics of the projects. I think this trade war conversation also factors into it because if the U.S. is going to go through this new wave of infrastructure buildout, it's going to push for domestic inputs as much as possible. If we're looking at this as a multidecade project, then buying and building a mine today to be in operation in five or six years may be a great time to benefit from this new demand.... »
https://www.streetwisereports.com/article/2018/07/09/trade-wars-gold-and-a-once-in-a-lifetime-opportunity.html
Kerr Mines Inc. (QB) (KERMF)
0.135 UP 0.0105 (8.43%)
https://kerrmines.com
« ... One that comes to mind was South32 Ltd. (S32:ASX), the Australian base metals and industrial metals company, buying Arizona Mining Inc. (AZ:TSX), which owns a sizable base metal deposit, very well located near I-10 in Arizona, with a multidecade mine life. There are nearby properties that are also coming into play that have the same feeder zones that may also be part of a larger transaction going forward.
Companies are more comfortable with their balance sheets and with the markets. The new tax plan for companies in the U.S. has certainly helped. It improved the economics of the projects. I think this trade war conversation also factors into it because if the U.S. is going to go through this new wave of infrastructure buildout, it's going to push for domestic inputs as much as possible. If we're looking at this as a multidecade project, then buying and building a mine today to be in operation in five or six years may be a great time to benefit from this new demand.... »
https://www.streetwisereports.com/article/2018/07/09/trade-wars-gold-and-a-once-in-a-lifetime-opportunity.html
« ... There's been some progress toward a new NAFTA deal, but the trade war with China rages on. Meanwhile, the EU called Trump's bluff on a no-tariff policy. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about trade wars and their economic consequences. He also covers Jerome Powell's latest comments. Is the Fed getting more dovish?
Tune in to the Friday Gold Wrap each week for a recap of the week's economic and political news as it relates to gold and silver, along with some insightful commentary.... »
https://seekingalpha.com/article/4203543-trade-wars-schiffgold-friday-gold-wrap-08_31-18
« ... Based on last week’s close at $1206.90, the direction of the December Comex Gold market this week is likely to be determined by trader reaction to a steep downtrending Gann angle at 1220.10 and a nearly flat uptrending Gann angle at $1207.00
December Comex Gold futures traded firm for much of the week, but couldn’t take out any significant highs before sellers took over. Not only did the market close lower for the week, but it also produced one of the worst monthly performances in recent memory. Once again, it was expectations of higher interest rates and safe-haven buying of the U.S. Dollar that pressured gold prices. .... »
https://www.fxempire.com/forecasts/article/gold-price-futures-gc-technical-analysis-weekly-chart-strengthens-over-1220-10-weakens-under-1207-00-524813
« ...Elliott said it was better to buy standard bars and coins, rather than limited edition collectible pieces that were sold at a premium price.
You can then choose to store the gold at home, in a safety deposit box or sometimes with the trader from whom you bought it.
Elliott said it was possible to start investing with a relatively small amount of money – you could begin with an ounce of gold.
https://www.stuff.co.nz/business/106702155/gold-prices-down-but-advisers-warn-investors-to-approach-with-caution
BTW I tend to agree with him...
https://kerrmines.com
« ...Gold Prices Gain as Trump Considers Imposing Tariffs on $200B in Chinese Goods »
https://www.investing.com/news/commodities-news/gold-prices-gain-as-trump-considers-imposing-tariffs-on-200b-in-chinese-goods-1593682
« ...Donald Trump is naturally at odds with the "elite". He's a New York Post guy; The New York Times despises him.
He sees himself under attack by the elite...which is made up, near as we can tell, of people who walk fully upright and speak in full sentences. He claims they are trying to stop him from making America great again.
But the real fight is not between Mr.Trump and the elite. It is between two factions of the Deep State. Neither has much cause for complaint.
Donald Trump has increased military spending by an additional $52 billion; he's given the elite a big tax break; he's done nothing to "drain the swamp" or threaten the Deep State's power or privileges.
Instead, he is expanding its power with new initiatives (such as the trade war) that bring vast new opportunities for mischief within reach of the chief executive.
But the elite in the Deep State is determined to bring him down. He's regarded as vulgar, unreliable, and embarrassing.
While he doesn't really challenge the Deep State itself, he is reshuffling its priorities, and regularly disses and disrupts the institutions and prejudices of its liberal, globalist wing.... »
https://www.bullionvault.com/gold-news/trump-fed-083120181
When is KERR going to recover? https://money.cnn.com/quote/quote.html?symb=KERMF
Kerr trading @ .16 cents NOT impressed at all!
The KERR stock price is not reflecting my positive opinion of this stock or their amazing high grade GOLD and Copper reserves... https://kerrmines.com/KERR/Kerr-Mines-Corporate-Presentation-July-2018.pdf
Kerr is becoming an actual hero$ or zeroes stock ?
Kerr is going to explode in 2020 if it can survive the present low GOLD price...
Frustrating but Kerr might be worth a long wait...
WE $HALL $EE!
Cheers,
GPB
Kerr trading @ .12 cents NOT impressed at all!
Michael, I totally agree with you but the KERR stock price is not reflecting our positive opinions on this stock or their amazing high grade GOLD and Copper reserves...
Kerr is becoming an actual hero$ or zeroes stock in my humble opinion....
Kerr is going to explode in 2020 if it can survive the present low GOLD price...
Frustrating but Kerr might be worth a long wait...
WE $HALL $EE!
Cheers,
John
Kerr trading @ .155 cents Canadian..NOT Impressed eom
Mr. « ...Becker confirmed he’s been working with Kerr Mines to reopen the old Copperstone Gold Mine between Parker and Quartzsite.... »
« ...After some years of not providing funding, the La Paz County Board of Supervisors has announced they intend to provide $30,000 to the La Paz Economic Development Corporation in fiscal year 2018-19. The funds would come out of $105,000 the county has in its budget for “community partners.”
At a work session Aug. 15, the Board Chairman, District 2 Supervisor Duce Minor, said this is money being invested in the county.
“We get a direct benefit from the work they do,” Minor said.
Minor said the county’s sales tax revenue has increased from $185,000 per month to $214,000 per month, and that is mostly additional taxes from new construction and the work of the La Paz EDC.
District 1 Supervisor D.L. Wilson remarked, “I don’t know anyone else who has that kind of return.”
District 3 Supervisor Holly Irwin told La Paz EDC President Skip Becker, who was at the Aug. 15 work session, that she has not had a lot of communication with him. She said she’d like to see a quarterly report on what he’s been going in her district.
Becker replied by offering an overview of what’s been developed in the county. He stated a lot of things need to be kept confidential until the businesses involved are ready to announce them.
As for creating development, Becker said that, from 1988 until 2013, there was approximately $30 million in development activity in La Paz County, excluding housing and tribal activities. Since he was named to head the EDC, there has been $300 million in development.
Becker said one of the problems in District 3 is a lack of infrastructure. As an example, he later said there’s little electrical infrastructure on Interstate 10 between Quartzsite and Vicksburg Road. He said it’s also hard to draw people for a labor force.
Less than 5 percent of the land in La Paz County is taxable, Becker said, and much of the land does not have power or internet access.
Irwin said she appreciated the work Becker did. He replied he would make efforts to keep her more informed.
The biggest development project Becker and the La Paz EDC have brought to La Paz County is the Rose Acre Farms egg farm south of Bouse on State Route 72. They were also responsible for the Hampton Inn Hotel and O’Reilly’s Auto Parts in Parker. At the Aug. 15 meeting, Becker confirmed he’s been working with Kerr Mines to reopen the old Copperstone Gold Mine between Parker and Quartzsite.
Becker was named head of the La Paz EDC in 2013. In 2015, he was named Economic Developer of the Year Small Community by the Arizona Association for Economic Development. He was named to the AAED Board of Directors in 2016 and was reelected in 2018. He currently chairs the AAED’s Rural Committee.
In the discussion of funding other entities, Irwin said she would like to see funding for the Bouse and McMullen Valley Chambers of Commerce increased from $7,500 to $9,000. She said that, given their total budgets, that amount is not out of line. The total budget for the Bouse Chamber is $14,700, while the McMullen Valley Chamber is budgeted at $20,000.
The Board of Supervisors was set to approve funding for outside entities at their Aug. 20 regular meeting.
https://www.parkerpioneer.net/news/article_16b65bb2-a572-11e8-8328-d727cb057ec4.html
https://kerrmines.com
CAPTAIN G, I think you may be right and if so...= $ $$$ ¥¥¥ €€€ £££ regarding these KERR shares in 2020!
Mr. « ...Becker confirmed he’s been working with Kerr Mines to reopen the old Copperstone Gold Mine between Parker and Quartzsite.... »
« ...After some years of not providing funding, the La Paz County Board of Supervisors has announced they intend to provide $30,000 to the La Paz Economic Development Corporation in fiscal year 2018-19. The funds would come out of $105,000 the county has in its budget for “community partners.”
At a work session Aug. 15, the Board Chairman, District 2 Supervisor Duce Minor, said this is money being invested in the county.
“We get a direct benefit from the work they do,” Minor said.
Minor said the county’s sales tax revenue has increased from $185,000 per month to $214,000 per month, and that is mostly additional taxes from new construction and the work of the La Paz EDC.
District 1 Supervisor D.L. Wilson remarked, “I don’t know anyone else who has that kind of return.”
District 3 Supervisor Holly Irwin told La Paz EDC President Skip Becker, who was at the Aug. 15 work session, that she has not had a lot of communication with him. She said she’d like to see a quarterly report on what he’s been going in her district.
Becker replied by offering an overview of what’s been developed in the county. He stated a lot of things need to be kept confidential until the businesses involved are ready to announce them.
As for creating development, Becker said that, from 1988 until 2013, there was approximately $30 million in development activity in La Paz County, excluding housing and tribal activities. Since he was named to head the EDC, there has been $300 million in development.
Becker said one of the problems in District 3 is a lack of infrastructure. As an example, he later said there’s little electrical infrastructure on Interstate 10 between Quartzsite and Vicksburg Road. He said it’s also hard to draw people for a labor force.
Less than 5 percent of the land in La Paz County is taxable, Becker said, and much of the land does not have power or internet access.
Irwin said she appreciated the work Becker did. He replied he would make efforts to keep her more informed.
The biggest development project Becker and the La Paz EDC have brought to La Paz County is the Rose Acre Farms egg farm south of Bouse on State Route 72. They were also responsible for the Hampton Inn Hotel and O’Reilly’s Auto Parts in Parker. At the Aug. 15 meeting, Becker confirmed he’s been working with Kerr Mines to reopen the old Copperstone Gold Mine between Parker and Quartzsite.
Becker was named head of the La Paz EDC in 2013. In 2015, he was named Economic Developer of the Year Small Community by the Arizona Association for Economic Development. He was named to the AAED Board of Directors in 2016 and was reelected in 2018. He currently chairs the AAED’s Rural Committee.
In the discussion of funding other entities, Irwin said she would like to see funding for the Bouse and McMullen Valley Chambers of Commerce increased from $7,500 to $9,000. She said that, given their total budgets, that amount is not out of line. The total budget for the Bouse Chamber is $14,700, while the McMullen Valley Chamber is budgeted at $20,000.
The Board of Supervisors was set to approve funding for outside entities at their Aug. 20 regular meeting.
https://www.parkerpioneer.net/news/article_16b65bb2-a572-11e8-8328-d727cb057ec4.html
https://kerrmines.com
« ... Kerr Mines has signed two agreements to sell its interest in its Larder Lake project for aggregate proceeds of approximately C$11m.
Under the first agreement, the company will sell Kerr Addison property, McGarry mine property and the additional McGarry Township claims.
It will receive C$1,250,000 on closing, C$750,000 after 18 months of closing and a 2% net smelter return royalty on the properties.
Kerr will sell its Bear Lake gold property and the remaining McVittie Township claims under a second deal for $5.6m upon closing. The agreement also accounts for $2.4m on sale of the property by the purchaser or if gold price increases $1,500 per ounce in six months, if 500,000oz of proven or probable reserves are established on the property, the completion of a feasibility study, or if production financing is secured.
Kerr Mines will also receive a 2% net smelter return royalty on the properties and the purchaser may buy 1% of the royalty for C$1m.... »
https://www.mining-technology.com/news/newsdeals-this-week-greenflag-ventures-kerr-mines-miranda-gold-and-more-4439753/
$11,000,000 million Canadian in aggregate proceeds? Kerr Mines needs to be more transparent regarding large financial transactions IMHO
https://kerrmines.com/kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value/
« ... Kerr Mines has signed two agreements to sell its interest in its Larder Lake project for aggregate proceeds of approximately C$11m.
Under the first agreement, the company will sell Kerr Addison property, McGarry mine property and the additional McGarry Township claims.
It will receive C$1,250,000 on closing, C$750,000 after 18 months of closing and a 2% net smelter return royalty on the properties.
Kerr will sell its Bear Lake gold property and the remaining McVittie Township claims under a second deal for $5.6m upon closing. The agreement also accounts for $2.4m on sale of the property by the purchaser or if gold price increases $1,500 per ounce in six months, if 500,000oz of proven or probable reserves are established on the property, the completion of a feasibility study, or if production financing is secured.
Kerr Mines will also receive a 2% net smelter return royalty on the properties and the purchaser may buy 1% of the royalty for C$1m.... »
https://www.mining-technology.com/news/newsdeals-this-week-greenflag-ventures-kerr-mines-miranda-gold-and-more-4439753/
$11,000,000 million Canadian in aggregate proceeds? Kerr Mines needs to be more transparent regarding large financial transactions IMHO
https://kerrmines.com/kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value/
« ....Kerr Mines Inc. [KER-TSX, KERMF-OTC, 7AZ1-FRA] said Monday it has agreed to sell its remaining properties in Northern Ontario to a unit of Orefinders Resources Inc. [ORX-TSXV, OTC-ORFD] in a move that will allow Kerr to focus on its Copperstone Mine in Arizona.
Orefinders shares rallied on the news, rising 7.69% or $0.005 to 7 cents.
Under the agreement, Kerr has divested all of its interest in the McGarry mine, and Barber-Larder properties to McGarry-Larder Mines Inc., a wholly-owned subsidiary of Orefinders. In return Kerr will receive approximately 9% of Orefinders’ outstanding shares. In addition, Kerr will receive 440,248 common shares of Powerore Inc., a battery-metal focused company that was recently set up to acquire Orefinders’ silver-cobalt assets, comprised of the Mann Mines and MacMurchy properties.
The properties are located in the Cobalt-Gowganda District of Ontario, and form part of Orefinders’ plan to create a pure play battery metals company.
“The sale of the McGarry asssets for common shares in Orefinders is an excellent value-creating opportunity for Kerr Mines shareholders,” said Claudio Ciavarella, CEO of Kerr Mines. “The McGarry assets in Northern Ontario fit with Orefinders’ plans of developing assets in the Abitibi and will unlock value for Kerr shareholders,’’ he said.
“The centrepiece of our strategic growth vision is focusing our resources on our core asset, the Copperstone mine in Arizona, and creating shareholder value through the advancement of this project.”
The Copperstone Mine produced nearly 500,000 ounces of gold between 1987 and 1993 from an open pit operation. Significant remaining infrastructure from that period includes offices, maintenance shops laboratory building, permitted tailings facility, processing facility and mill.
The mine is located in La Paz County, Western Arizona, within the Walker Lane mineral belt. The property is accessible from Pheonix on Interstate 10 to Quartzsite and from Quartzsite on Route 95.
Gold in the area is commonly associated with hematite, chlorite, quartz, manganese oxide and copper oxide mineralization. In the case of Copperstone, the gold is not encapsulated in sulphides or silica, and the ores do not contain active carbon. This means the ores at Copperstone are not refractory.
Kerr recently announced the results of an independent pre-feasibility study and resource update for its past-producing Copperstone Mine in Arizona. The resource update is in compliance with National Instrument 43-101 standards of disclosure.
Highlights from the pre-feasibility study, include average annual sales of 38,347 ounces of gold, initial capital of $22.7 million, and all-in sustaining cost of US$875 per gold ounce. The project hosts 175,093 ounces of contained gold in the proven and probable category.... »
Shares of Kerr Mines eased 5.56% or $0.01 to 17 cents on Monday. The 52-week range is 41 cents and 17 cents.
http://resourceworld.com/index.php/kerr-mines-sells-assets-to-focus-on-copperstone/
https://kerrmines.com/video/
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/51082-kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value.html
« ...Kerr Mines sells remaining Northern Ontario land package, bolsters shareholder value
« Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is pleased to announce that the Company has divested all of its interest in the McGarry Mine and Barber-Larder Properties (collectively “McGarry”) to McGarry-Larder Mines Inc., a wholly owned subsidiary of Orefinders Resources Inc, (TSX-V: ORX) (“Orefinders”).
Kerr shall receive 8,000,000 common shares, approximately 9.0%, of Orefinders outstanding share capital, in addition, the Company will receive 440,248 common shares of Power Ore (TSX-V: PORE), a battery metal focused company.
“The sale of the McGarry assets for common shares in Orefinders, is an excellent value creating opportunity for Kerr Mines Shareholders. The McGarry assets in Northern Ontario fit with Orefinders plans of developing assets in the Abitibi and will unlock value for Kerr Mines shareholders” stated Claudio Ciavarella, CEO, Kerr Mines Inc. “the centerpiece of our strategic growth vision is focusing our resources on our core asset, the Copperstone Mine in Arizona, and creating shareholder value through the advancement of this project” concluded Ciavarella.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer [color=red][/color]currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/51082-kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value.html
« ...Kerr Mines sells remaining Northern Ontario land package, bolsters shareholder value
« Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is pleased to announce that the Company has divested all of its interest in the McGarry Mine and Barber-Larder Properties (collectively “McGarry”) to McGarry-Larder Mines Inc., a wholly owned subsidiary of Orefinders Resources Inc, (TSX-V: ORX) (“Orefinders”).
Kerr shall receive 8,000,000 common shares, approximately 9.0%, of Orefinders outstanding share capital, in addition, the Company will receive 440,248 common shares of Power Ore (TSX-V: PORE), a battery metal focused company.
“The sale of the McGarry assets for common shares in Orefinders, is an excellent value creating opportunity for Kerr Mines Shareholders. The McGarry assets in Northern Ontario fit with Orefinders plans of developing assets in the Abitibi and will unlock value for Kerr Mines shareholders” stated Claudio Ciavarella, CEO, Kerr Mines Inc. “the centerpiece of our strategic growth vision is focusing our resources on our core asset, the Copperstone Mine in Arizona, and creating shareholder value through the advancement of this project” concluded Ciavarella.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer [color=red][/color]currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/51082-kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value.html
« ...Kerr Mines sells remaining Northern Ontario land package, bolsters shareholder value
« Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is pleased to announce that the Company has divested all of its interest in the McGarry Mine and Barber-Larder Properties (collectively “McGarry”) to McGarry-Larder Mines Inc., a wholly owned subsidiary of Orefinders Resources Inc, (TSX-V: ORX) (“Orefinders”).
Kerr shall receive 8,000,000 common shares, approximately 9.0%, of Orefinders outstanding share capital, in addition, the Company will receive 440,248 common shares of Power Ore (TSX-V: PORE), a battery metal focused company.
“The sale of the McGarry assets for common shares in Orefinders, is an excellent value creating opportunity for Kerr Mines Shareholders. The McGarry assets in Northern Ontario fit with Orefinders plans of developing assets in the Abitibi and will unlock value for Kerr Mines shareholders” stated Claudio Ciavarella, CEO, Kerr Mines Inc. “the centerpiece of our strategic growth vision is focusing our resources on our core asset, the Copperstone Mine in Arizona, and creating shareholder value through the advancement of this project” concluded Ciavarella.
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer [color=red][/color]currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/51082-kerr-mines-sells-remaining-northern-ontario-land-package-bolsters-shareholder-value.html
« ... The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.... »
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://www.streetwisereports.com/article/2018/07/19/gold-miner-signs-letter-to-fund-copperstone-gold-development-and-production.html
http://lapazedc.com/board-of-directors/
Martin Kostuik, President https://kerrmines.com/corporate/
« ... The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.... »
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://www.streetwisereports.com/article/2018/07/19/gold-miner-signs-letter-to-fund-copperstone-gold-development-and-production.html
http://lapazedc.com/board-of-directors/
Martin Kostuik, President https://kerrmines.com/corporate/
« ... The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.... »
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://www.streetwisereports.com/article/2018/07/19/gold-miner-signs-letter-to-fund-copperstone-gold-development-and-production.html
http://lapazedc.com/board-of-directors/
Martin Kostuik, President https://kerrmines.com/corporate/
« Rick Rule, CEO at Sprott US Holdings, gives his opinion on the best time to buy exploration companies!
“I would say to begin with that somebody who participates in these stocks needs to regard themselves as a speculator, not as an investor. Someone who is willing to take and accept real risk commodity prices themselves are risky and exploration is riskier. Still, that being said the reward is often very commensurate with the risk. The part about the exploration business that is really attractive to me now is as I say, well resource markets are soft, exploration markets are non-existent.
People regard bear markets with fear which is a mistake, people should regard bear markets as sales. If you went across the street here to Pacific Centre and walked through the Pacific Centre mall, you would be attracted to a store that said goods on sale, where goods on sales is a bear market. Bear markets are good and the exploration sector is unloved in fact, hated. Which means as a buyer you have very little competition for the goods which as a buyer is good for you.”
Well these Kerr Mines shares are definitely on SALE compared to what they will be selling at in early 2020! IMHO
http://www.b-tv.com/rick-rule-on-the-best-time-to-buy-exploration-cos/
« ...A new attempt is underway to revive the former Copperstone Gold Mine between Parker and Quartzsite. Martin Kostuik, President of Toronto-based Kerr Mines, Inc., told the Pioneer Aug. 2 that they believe this could be a long-term, lasting project for La Paz County. He said they are currently trying to raise $30 to $40 million in capital to get the mine into production.
The mine is located about five miles off State Route 95 between Parker and Quartzsite. It was operated by Cyprus Minerals as an open-pit operation from 1987 to 1993. In 2010, American Bonanza Gold Corp. tried to revive the operation as an underground mine. They suspended operations in October 2014.
Kostuik said the previous owners of the mine took on a lot of debt they couldn’t repay. They merged with Kerr and the debt was restructured. There was no interest in keeping the mine open at the time due to the low price of gold in international markets. ... »
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
« Rick Rule, CEO at Sprott US Holdings, gives his opinion on the best time to buy exploration companies!
“I would say to begin with that somebody who participates in these stocks needs to regard themselves as a speculator, not as an investor. Someone who is willing to take and accept real risk commodity prices themselves are risky and exploration is riskier. Still, that being said the reward is often very commensurate with the risk. The part about the exploration business that is really attractive to me now is as I say, well resource markets are soft, exploration markets are non-existent.
People regard bear markets with fear which is a mistake, people should regard bear markets as sales. If you went across the street here to Pacific Centre and walked through the Pacific Centre mall, you would be attracted to a store that said goods on sale, where goods on sales is a bear market. Bear markets are good and the exploration sector is unloved in fact, hated. Which means as a buyer you have very little competition for the goods which as a buyer is good for you.”
Well these Kerr Mines shares are definitely on SALE compared to what they will be selling at in early 2020! IMHO
http://www.b-tv.com/rick-rule-on-the-best-time-to-buy-exploration-cos/
« ...A new attempt is underway to revive the former Copperstone Gold Mine between Parker and Quartzsite. Martin Kostuik, President of Toronto-based Kerr Mines, Inc., told the Pioneer Aug. 2 that they believe this could be a long-term, lasting project for La Paz County. He said they are currently trying to raise $30 to $40 million in capital to get the mine into production.
The mine is located about five miles off State Route 95 between Parker and Quartzsite. It was operated by Cyprus Minerals as an open-pit operation from 1987 to 1993. In 2010, American Bonanza Gold Corp. tried to revive the operation as an underground mine. They suspended operations in October 2014.
Kostuik said the previous owners of the mine took on a lot of debt they couldn’t repay. They merged with Kerr and the debt was restructured. There was no interest in keeping the mine open at the time due to the low price of gold in international markets. ... »
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
« ...Effort underway to revive (The COPPERSTONE) gold mine »
« ...The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.
http://lapazedc.com/
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
https://www.vox.com/2018/8/7/17662084/trump-china-trade-war
How is this worsening Trade War going to eventually impact the Price of Gold as.... ?
https://www.scmp.com/news/china/diplomacy-defence/article/2158687/china-carefully-cherry-picking-tariffs-impose-trade-war
https://www.cnbc.com/2018/08/08/dark-cloud-of-trade-war-hovers-over-chinese-yuan-globalization.html
« ...Effort underway to revive gold mine »
« ...The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.
http://lapazedc.com/
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
https://www.vox.com/2018/8/7/17662084/trump-china-trade-war
How is this worsening Trade War going to eventually impact the Price of Gold as.... ?
« ...Effort underway to revive gold mine »
« ...The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.
http://lapazedc.com/
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
https://www.vox.com/2018/8/7/17662084/trump-china-trade-war
How is this worsening Trade War going to eventually impact the Price of Gold as.... ?
« ...Effort underway to revive gold mine »
« ...The mining will take place under the former open pit. There will also be a milling facility. Martin Kostuik said the gold is all microscopic.
The best thing about the mine, he said, is most of the needed infrastructure is already in place.
Kostuik said he’s been working with local officials and Skip Becker of the La Paz Economic Development Corp. to make reopening the mine a reality.
There are currently 15 people working at the mine, Kostiuk said. When it’s in full production, he expects they will have 120 people working there.
“There’s a very strong chance of us being part of this community for a long time,” he said.
http://lapazedc.com/
https://www.parkerpioneer.net/news/article_d84ae7e2-9a6a-11e8-a071-bb6ea4b32d84.html
https://kerrmines.com/
https://www.vox.com/2018/8/7/17662084/trump-china-trade-war
How is this worsening Trade War going to eventually impact the Price of Gold as.... ?