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Kerr Mines’ shares seem to be improving and consistently climbing in Europe imho...
https://www.finanzen100.de/aktien/kerr-mines-wkn-a119d6_H627260544_14701522/
https://www.wallstreet-online.de/aktien/kerr-mines-aktie
Kerr Mines’ shares seem to be consistently improving in Europe...
https://www.finanzen100.de/aktien/kerr-mines-wkn-a119d6_H627260544_14701522/
https://www.wallstreet-online.de/aktien/kerr-mines-aktie
Happy New Year and “...Kerr Mines (KER) Given a C$0.69 Price Target at Fundamental Research...”
Posted by Rob Logan on Dec 29th, 2017
If the price of gold continues to climb and hold well over $1300 USD in 2018
Down the golden road, I could see Gran Columbia providing a dividend but like Kerr Mines it will most likely take years to lower the varied debts so...
Gran Columbia Gold will pay dividends prior to Kerr but let me reiterate Kerr Mines has a much better Chance at serious POP $$$ in the share price in 2018-2019... imho
http://kerrmines.com/projects/
https://investorshub.advfn.com/Gran-Colombia-Gold-Corp-TPRFF-30138/
http://www.northernminer.com/news/kerr-mines-make-production-decision-copperstone-early-next-year/1003791354/
I like Gran Colombia Gold but I think Kerr has more upside potential in 2018 - 2019 imho...
https://www.thelincolnianonline.com/2017/12/28/kerr-mines-ker-pt-set-at-c0-69-by-fundamental-research.html
Yes, fortunately I am multilingual and my Spanish communications skills are strong...
Cheers,
GPB
Did you notice the digital magazine from Argentina El Economista mentions Kerr Mines and Gran Colombia Gold? In a very recent Spanish article?
An interesting short read imho...
http://www.eleconomista.com.ar/2017-12-7-ideas-inversion-ano-proximo/
http://www.grancolombiagold.com/Home/default.aspx
http://kerrmines.com
JohnCM, here are several Kerr Mines’ resources... http://kerrmines.com
”...THE COPPERSTONE MINE
Historically produced over 500,000 oz in the open pit...”
Burnstone was previously operated by Great Basin Gold up to 2012 when the mine was placed on care and maintenance and GBG went into liquidation. An option on the mine was acquired by Wits Gold who in turn was acquired by Sibanye Gold. In 2015 Sibanye Gold completed a feasibility study which envisaged production of 100 120koz/a over a 23 year mine life. Capital expenditure was estimated at R1.852 billion for life of mine production of 1.727 Moz of gold.
SOUTHGOLD PROPRIETARY LIMITED
>Southgold was a member of the Great Basin Gold (GBG) group of companies with its main business of mining exploration
>GBG was a Canadian company listed on the Toronto Stock Exchange
>Company is the owner of the Burnstone mine – Mpumalanga
>Southgold was placed under business rescue on 14 September 2012, pursuant to a voluntary resolution passed by the board of directors and Peter van den Steen was appointed as the business rescue practitioner
>Provision of post-commencement funding by secured lenders
One of the biggest and most complex business rescues brought under the new Companies Act of 2008 has come to a successful conclusion, in the process saving jobs and highlighting the important role that banks play in business rescue proceedings.
Southgold Exploration, which filed a resolution in 2012 placing itself in business rescue, had its business rescue plan approved by creditors on 11 July 2013, which ultimately resulted in the company terminating its business rescue on 1 July 2014 so that it could continue to operate.
Claire van Zuylen, Partner at pan-African corporate law firm, Bowman Gilfillan, which acted for Standard Chartered Bank in London and Credit Suisse (AG), commented, “The restructuring will result in some 2 000 employees, who were initially retrenched in 2012 when the Burnstone mine went into care and maintenance, being re-employed at the mine when operations re-commence.
Court case over African miner’s collapse ends abruptly
Great Basin debentureholders drop lawsuit
Stockwatch Daily12 Jan 2017
By Mike Caswell
A LAWSUIT over the demise of Great Basin Gold Ltd. and its purported $1.3-billion (U.S.) in assets has come to an unspectacular conclusion in the Supreme Court of British Columbia. The debentureholders behind the suit have dropped the case. Each side will bear its own legal costs.
The lawsuit was brought by a group, led by Linden Advisors LP, that held $45.7-million in unsecured convertible debentures in Great Basin. The group lost most of its investment after Great Basin entered insolvency proceedings in 2012. The lawsuit sought damages from Great Basin’s former management, claiming that the company had misrepresented the value of its assets.
The case was being actively litigated and had been set for trial in September, 2017, but the matter came to a sudden end on Dec. 19, 2016. On that date, Linden and the other plaintiffs filed a consent order dropping the matter in its entirety. The order states that there will be no costs, which means that each side must pay its own legal fees.
The order concludes a case that Linden and two other investors filed on Aug. 14, 2014. The other plaintiffs were Crystalline Management Inc. and Wolverine Asset Management LLC. The defendants were former officers and directors of Great Basin. These included Ferdinand Dippenaar, the company’s president from August, 2005, to August, 2012. The suit also named Great Basin chairman Ron Thiessen.
The lawsuit sought to hold management accountable for what the debentureholders saw as a substantial misrepresentation of the value of the company’s assets. Linden said that it acquired Great Basin debentures in 2009, based on the value the company attributed to its two main projects, Hollister and Burnstone. The company had valued Burnstone between $414-million (U.S.) and $1.17-billion (U.S.), with a mine life of 19 years. After adding the value of Hollister, the company’s two main projects were worth $1.3-billion (U.S.), the suit stated.
After the initial investment, all seemed to be well, according to Linden. The Burstone project went into production in January, 2011, and the project’s reserves and mine life increased too. Meanwhile the Hollister project received a boost to its reserves as well. Alongside these purportedly positive developments, Mr. Dippenaar called the Burnstone a “world class project” that would produce into the future. The company expected Burnstone to start contributing cash flow in July, 2011.
There were no concerns throughout 2011 and into 2012 about the company’s cash position, Linden said. On Oct. 24, 2011, the company claimed to have enough working capital. It also increased its valuation of the Burnstone project, placing a $1.53-billion (U.S.) figure on the project. The company acknowledged some production delays, but in an April 3, 2012, earnings call Mr. Dippenaar assured investors that those issues were resolved. As the debentureholders understood things, the company was advancing without any troubles, the suit stated.
VANCOUVER, Dec. 21, 2017 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") announces that its wholly-owned US-based subsidiary Pebble Limited Partnership (the "Pebble Partnership") has finalized documentation and will file for a US Clean Water Act 404 permit with the US Army Corps of Engineers on Friday, December 22, thereby initiating federal and state permitting for the Pebble Project under the National Environmental Policy Act ("NEPA").
"At the outset of 2017, we established three ambitious corporate objectives for Northern Dynasty and the Pebble Project," said Northern Dynasty President & CEO Ron Thiessen. "We committed to reaching a resolution with the US Environmental Protection Agency ("EPA") to restore the Pebble Project to normal course permitting, to re-partnering on the Pebble Project and to initiating permitting under NEPA. As we approach the end of the year, I'm proud to report that we will hit our mark on all three important milestones."
On May 12, 2017, Northern Dynasty announced a settlement agreement with EPA, whereby the federal agency agreed to initiate a process to withdraw its Proposed Determination under Section 404(c) of the Clean Water Act, thereby clearing the way for Pebble to apply for a CWA 404 permit with the US Army Corps of Engineers. On December 18, 2017, Northern Dynasty announced a framework agreement with First Quantum Minerals Ltd. ("First Quantum") (TSX: FM), which contemplates that an affiliate of First Quantum will subsequently execute a US$150 million option agreement with Northern Dynasty, which provides for a future right to acquire a 50% interest in the Pebble Partnership for a further investment of US$1.35 billion. Northern Dynasty has now received an initial US$37.5 million Early Option Installment Payment from First Quantum.
"We are very pleased to move the Pebble Project forward to the next important phase by initiating the NEPA permitting process this year, as we committed to do," said Tom Collier, Pebble Partnership CEO.
Just weeks later, a much larger problem ensued. On Sept. 19, 2012, Great Basin entered insolvency proceedings, in which it ultimately sold all of its assets. As Linden saw it, the true value of the company’s projects emerged through those proceedings. In May, 2013, Great Basin sold Hollister for $15-million and a 15-per-cent royalty, which was assigned to the company’s secured lenders. Meanwhile Burstone went for $7.25-million (U.S.) and the assumption of $170-million (U.S.) in debt. Linden said that this value was a mere fraction of what management had claimed the projects to be worth.
The lawsuit sought damages for negligent misrepresentation, a declaration that the directors and officers breached their duty, and a declaration that the debenture prospectus contained misrepresentations. In addition to Mr. Dippenaar and Mr. Thiessen, the defendants were: Lourens Van Vuuren, Willem Beckmann, Philip N. Bentley, Patrick Cooke, Terrence Barry Coughlan, Dhir Anu, David M.S. Elliott, Bheki Khumalo, Harry Wayne Kirk, Octavia Matloa, Philip Kotze, Joshua C. Ngoma, Johan Oelofse, Dana Roets, Gert J. Robbertze, Sipho A. Nkosi and Walter T. Segsworth.
The defendants each denied any wrongdoing. In his July 22, 2015, response to the suit, Mr. Dippenaar said that there was no guarantee of the company’s success, and its disclosure clearly indicated that fact. Exploration variables, lack of financing, as well as economic and market conditions could all affect its success, he contended.
Mr. Dippenaar also leaned heavily on the legal disclaimers in the prospectus. Those disclaimers specifically stated that investments in the company were speculative and involved a high degree of risk. Moreover, the debentures were unsecured obligations and there was no guarantee that the company could pay the interest and principal. At the time, the company had an 18-year history of losses and there was no guarantee it would be profitable.
“31 July 2017 excluding Burnstone”
https://thevault.exchange/?get_group_doc=245/1512555825-Sibanye-StillwaterIRmeetingpresentationDec201730Nov.pdf
Credit Suisse AG and Standard Chartered Bank as South African and English legal counsel in respect of the ongoing refinancing and debt and equity restructure of the South African mining company, Sibanye Gold Eastern Operations Pty Ltd (previously Southgold Exploration Pty Ltd).
Fahad Mohammed Al Tamimi, a Senior Officer and Director, acquired 4,470,763 Common Shares on a direct ownership basis at a price of $0.300 through a prospectus or prospectus exempt offering on December 14th, 2017. This represents a $1,341,229 investment into the company's shares and an account share holdings change of 43.6%.
Kerr Mines Copperstone-Projekt: Arizonas nächste hochgradige Goldmine
Gastautor: Kai Hoffmann
Der Neuanfang begann bereits 2014. Vor rund drei Jahren übernahm Kerr Mines die insolvente American Bonanza. Das Ziel der Akquisition war die noch bis Ende 2013 in Produktion befindliche Copperstone-Mine im Westen Arizonas. Der Zeitpunkt hätte nicht unglücklicher gewählt werden können. Kurz nach erfolgreicher Übernahme kämpfte Kerr auf Grund der allgemeinen Marktlage selbst mit dem Überleben. Doch dank der finanziellen Committments des CEO und des Chairmans – man übernahm die Schulden privat und investierte noch direkt in die Gesellschaft – steht das Unternehmen heute auf soliden Füßen und blickt einer spannenden Zukunft entgegen. Anfang August sahen wir uns auf Copperstone um.
Site Visit Report: Kerr Mines Copperstone-Projekt: Arizonas nächste hochgradige Goldmine | wallstreet-online.de - Vollständiger Artikel unter:
https://www.wallstreet-online.de/nachricht/10157423-site-visit-report-kerr-mines-copperstone-projekt-arizonas-hochgradige-goldmine
Kerr Mines Copperstone-Projekt: Arizonas nächste hochgradige Goldmine
Gastautor: Kai Hoffmann
Kerr Mines Copperstone-Projekt: Arizonas nächste hochgradige Goldmine
Gastautor: Kai Hoffmann
Fahad Mohammed Al Tamimi, a Senior Officer and Director, acquired 4,470,763 Common Shares on a direct ownership basis at a price of $0.300 through a prospectus or prospectus exempt offering on December 14th, 2017. This represents a $1,341,229 investment into the company's shares and an account share holdings change of 43.6%.
Prominent business leader Fahad Al Tamimi is organising a significant dinner event next week in London and the theme of the evening has just been announced: ‘Reactivating a Patient’s Immune System to Eradicate Cancer’. The occasion will help support further research in the area of radiation therapy.
Fahad Al Tamimi will be joined by a selection of notable guests who will have the opportunity to meet one of the world’s leading researchers in this space. Dr James Welsh, who is currently based at the University of Texas in America, will share his views on the latest developments in this essential field of medical study.
Dr Welsh will provide fascinating insights and share his views on the latest findings in this crucial area of healthcare. The discussion will offer an overview but also provide more specific detail regarding strategies for combining immunotherapy with radiation for anticancer therapy.
Fahad Mohammed Al Tamimi, a Senior Officer and Director, acquired 4,470,763 Common Shares on a direct ownership basis at a price of $0.300 through a prospectus or prospectus exempt offering on December 14th, 2017. This represents a $1,341,229 investment into the company's shares and an account share holdings change of 43.6%.
Prominent business leader Fahad Al Tamimi is organising a significant dinner event next week in London and the theme of the evening has just been announced: ‘Reactivating a Patient’s Immune System to Eradicate Cancer’. The occasion will help support further research in the area of radiation therapy.
Fahad Al Tamimi will be joined by a selection of notable guests who will have the opportunity to meet one of the world’s leading researchers in this space. Dr James Welsh, who is currently based at the University of Texas in America, will share his views on the latest developments in this essential field of medical study.
Dr Welsh will provide fascinating insights and share his views on the latest findings in this crucial area of healthcare. The discussion will offer an overview but also provide more specific detail regarding strategies for combining immunotherapy with radiation for anticancer therapy.
Fahad Mohammed Al Tamimi, a Senior Officer and Director, acquired 4,470,763 Common Shares on a direct ownership basis at a price of $0.300 through a prospectus or prospectus exempt offering on December 14th, 2017. This represents a $1,341,229 investment into the company's shares and an account share holdings change of 43.6%.
Prominent business leader Fahad Al Tamimi is organising a significant dinner event next week in London and the theme of the evening has just been announced: ‘Reactivating a Patient’s Immune System to Eradicate Cancer’. The occasion will help support further research in the area of radiation therapy.
Fahad Al Tamimi will be joined by a selection of notable guests who will have the opportunity to meet one of the world’s leading researchers in this space. Dr James Welsh, who is currently based at the University of Texas in America, will share his views on the latest developments in this essential field of medical study.
Dr Welsh will provide fascinating insights and share his views on the latest findings in this crucial area of healthcare. The discussion will offer an overview but also provide more specific detail regarding strategies for combining immunotherapy with radiation for anticancer therapy.
Why a speedy resignation...? http://www.newswire.ca/news-releases/kerr-mines-announces-board-changes-617434753.html
Why a speedy resignation...? http://www.newswire.ca/news-releases/kerr-mines-announces-board-changes-617434753.html
KERR MINES ANNOUNCES APPOINTMENT OF DIRECTOR
TORONTO, Dec. 20, 2016 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX:KER) is pleased to announce the appointment of Mr. Richard Patricio to the board of directors. Mr. Patricio is a qualified lawyer in Ontario and has over 15 years of experience working with and for public companies. Mr. Patricio has built a number of mining companies with global operations and spent 10 years with an investment company focused in the resource and early-stage investment space. Mr. Patricio holds and has held senior officer and director positions in several junior mining companies that are listed on the TSX, ASX, NYSE and AIM exchanges. Mr. Patricio is currently the CEO and President of TSX-listed Mega Uranium Ltd. a uranium-focused investment and development company with assets in Canada and Australia.
"We are delighted to have Richard join our board at this important time for the Company," said Fahad al Tamimi, Chairman of the Board of Kerr. "His mining industry experience and extensive knowledge of capital markets and regulatory and compliance issues will undoubtedly serve the Company well."
About Kerr
Kerr is a North American gold exploration and development company based in Toronto, Canada. Kerr's core focus is to commence operations at the Copperstone Mine in Arizona. The Copperstone Mine produced nearly 500,000 ounces of gold through open pit mining. Existing infrastructure which remains from this time, or which has been subsequently installed by the Company's predecessor and wholly owned subsidiary, American Bonanza Gold Corp., is considerable and serves to reduce the current capital requirements for the mine. Existing infrastructure includes a power line and substation, and three water wells, all sufficient for the proposed operations at Copperstone. Additional infrastructure on site includes offices, maintenance shops and a laboratory building permitted tailings facility, processing facility and mill.
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Kerr Mines Inc.
KERR MINES ANNOUNCES APPOINTMENT OF DIRECTOR
TORONTO, Dec. 20, 2016 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX:KER) is pleased to announce the appointment of Mr. Richard Patricio to the board of directors. Mr. Patricio is a qualified lawyer in Ontario and has over 15 years of experience working with and for public companies. Mr. Patricio has built a number of mining companies with global operations and spent 10 years with an investment company focused in the resource and early-stage investment space. Mr. Patricio holds and has held senior officer and director positions in several junior mining companies that are listed on the TSX, ASX, NYSE and AIM exchanges. Mr. Patricio is currently the CEO and President of TSX-listed Mega Uranium Ltd. a uranium-focused investment and development company with assets in Canada and Australia.
"We are delighted to have Richard join our board at this important time for the Company," said Fahad al Tamimi, Chairman of the Board of Kerr. "His mining industry experience and extensive knowledge of capital markets and regulatory and compliance issues will undoubtedly serve the Company well."
About Kerr
Kerr is a North American gold exploration and development company based in Toronto, Canada. Kerr's core focus is to commence operations at the Copperstone Mine in Arizona. The Copperstone Mine produced nearly 500,000 ounces of gold through open pit mining. Existing infrastructure which remains from this time, or which has been subsequently installed by the Company's predecessor and wholly owned subsidiary, American Bonanza Gold Corp., is considerable and serves to reduce the current capital requirements for the mine. Existing infrastructure includes a power line and substation, and three water wells, all sufficient for the proposed operations at Copperstone. Additional infrastructure on site includes offices, maintenance shops and a laboratory building permitted tailings facility, processing facility and mill.
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Kerr Mines Inc.
”...Obviously there’s going to be the economics of getting down there — we’ll have to drive ramps down,” he adds. “If the orebody continues at the same rate that has already presented itself, and we’re able to go down another 300 to 500 feet, we have the potential to add 300,000-500,000 oz. gold … that’s one of the belief systems that the geologists who have studied this project for us have.”
The company is also evaluating the copper content of the deposit, which could create a nice stream of revenue, he says, noting that copper assay values are distributed along the entire strike length of the Copperstone Zone. Of historic and new drill hole intervals that contain a gold grade of 3 grams gold per tonne or higher, and that were assayed for copper, the weighted average copper grade is 0.54%.
“We have some pretty decent grades and two different types of copper — sulphide and oxide — and the results will show how we can monetize it,” he says. “The sulphide copper does not float with the gold concentrate we produce and the majority of the copper, which is oxide, may be monetized as it flows to tails. So we’ve now started to look at that. It’s nice because it has the potential to be free cash. It’s free money because we have it with the gold and there’s an opportunity to create a good revenue stream.”
This week the company announced initial metallurgical results that demonstrated sulphide copper recoveries of up to 97% and gold recoveries of up to 91%.
The company’s shares are trading on the Toronto Stock Exchange at 31.5¢ per share within a 52-week trading range of 9¢ to 41¢ per share. The company has 235 million common shares outstanding for a $74-million market capitalization.
In addition to Ciavarella, who owns 11.5% of the company’s shares, and Al Tamimi, who owns 23.5%, Eric Sprott owns 8%.
”...Obviously there’s going to be the economics of getting down there — we’ll have to drive ramps down,” he adds. “If the orebody continues at the same rate that has already presented itself, and we’re able to go down another 300 to 500 feet, we have the potential to add 300,000-500,000 oz. gold … that’s one of the belief systems that the geologists who have studied this project for us have.”
The company is also evaluating the copper content of the deposit, which could create a nice stream of revenue, he says, noting that copper assay values are distributed along the entire strike length of the Copperstone Zone. Of historic and new drill hole intervals that contain a gold grade of 3 grams gold per tonne or higher, and that were assayed for copper, the weighted average copper grade is 0.54%.
“We have some pretty decent grades and two different types of copper — sulphide and oxide — and the results will show how we can monetize it,” he says. “The sulphide copper does not float with the gold concentrate we produce and the majority of the copper, which is oxide, may be monetized as it flows to tails. So we’ve now started to look at that. It’s nice because it has the potential to be free cash. It’s free money because we have it with the gold and there’s an opportunity to create a good revenue stream.”
This week the company announced initial metallurgical results that demonstrated sulphide copper recoveries of up to 97% and gold recoveries of up to 91%.
The company’s shares are trading on the Toronto Stock Exchange at 31.5¢ per share within a 52-week trading range of 9¢ to 41¢ per share. The company has 235 million common shares outstanding for a $74-million market capitalization.
In addition to Ciavarella, who owns 11.5% of the company’s shares, and Al Tamimi, who owns 23.5%, Eric Sprott owns 8%.
I concur, expecting production NOT until early 2019. These shares will POP if they provide us with when exactly they will start production in mid 2018 $o...
Can’t wait to see the Copperstone PFS and improved Mine Plan and varied forms of optimization ...
This is a waiting game and there is a strong golden and copper tinged light at the end of the tunnel...
The Mill may need...
By mid 2019 $$$
Merry Xmas and Happy Holidays,
GPB
Lest we NOT forget...
”... Reports Additional Results of Expanded Production Stope Development in McGarry Gold Mine
*Total sill drifting is now at 820 feet with an average grade of 0.34 oz/t (11.7 g/t) (undiluted and without top cutting) over an average of 5.0 feet (1.5 m)
*Sill drift development of future stoping areas continues to meet or exceed expectations
*Three new gold zones are being developed on the 2250 and 2050 Levels close to the shaft
*The 325N Zone on the west end of the mine is open to the west and now being developed on two sublevels with consistent results from sublevel to sublevel
*The 330N Zone on the east end of the mine contains unique nugget-type distribution of visible gold in every face.
TORONTO, April 22, 2013 /CNW/ - Armistice Resources Corp. (TSX: AZ), operator of the McGarry gold mine in Ontario's Kirkland Lake area, today reported results from expanded production stope development in the McGarry Mine.
Sill drifting under future stoping zones has now reached a cumulative 820 feet (250 m) in seven zones on the 2250 Level and related sublevels as well as the 2050 Level. The average expected stoping width is 5.0 feet (1.5 m) and estimated undiluted grades averaged over all the stoping areas is 0.34 oz/t (11.7 g/t).
The grades reported are based on chip samples taken on the face after each mining round. Typically each round is six-to-eight feet in depth and generally wider than the expected stopes to ensure that stoping areas are optimally defined and to enable the load-haul-dump equipment into the drift to remove the broken rock. As a result, the grade delivered from the production development sill drifts will include some dilution. Allowing for 35% dilution, which is typical for the recovery from narrow stopes, the diluted grade expected to be delivered to a mill from stoping is 0.21 oz/t (7.3 g/t).
The results summarized above are as anticipated in the filed NI 43-101 Technical Report, Preliminary Economic Assessment and Mineral Resource Estimate, McGarry Project by Martin Drennan, P.Eng., Python Mining Consultants Inc. dated 30 September 2011.
The details of the sill drifting are summarized in the table below and on the attached Figures 1 to 5 summarizing the location of the drifting within the mine.
In 2012, production development was concentrated on the west end of the underground infrastructure in the 325N Zone on the 2250 Level. Mining is continuing in this area with a new sublevel established about 50 feet below the drifting previously reported in 2012.
"We are very pleased with these results from the continuing stope development that we're undertaking in our McGarry Mine," said Todd J. Morgan, chief executive officer and president. "In particular, we were pleased to confirm that the gold zones encountered on the 2280 sublevel are being closely repeated on the lower 2330 sublevel. On the upper 2280 sublevel, the excellent mineralization defined in the #2W sill drift is now being extended to the west. Although assay results are pending, the gold zone is open to the west and continuing as expected in all sill drifts.
"We are developing two additional zones much closer to the shaft, the 440N and the 330N Zones, at the east end of the 2250 Level. The 330N Zone contains unique nugget-type distribution of visible gold in every face. Although this nugget-type distribution presents sampling challenges, results in both zones are encouraging with continuity exceeding expectations," Mr. Morgan reported.
"Also, thus far in 2013," added Erik Andersen, P.Eng., Vice-President and Chief Operating Officer, "we have opened stope development on the east end of the mine on the 2050 Level, 200 feet above the main 2250 Level. To improve production efficiency, sill drifting on the 2050 Level is very close to an ore pass that delivers the mined material to within a few feet of the shaft hoisting system on the 2250 Level.
"The gold zones being mined on the 2050 Level are interpreted to be related to the 440N and 330N zones on the 2250 Level 250 feet below and to the test stope mined in 1995 as well. While grades at the location where initial sill drifting on the 2050 Level was started are lower than in the 325N and 440N Zones on the 2250 Level, we expect this to improve as drifting advances. The material from the 1995 test stope (see Figure 5) was milled at the nearby Macassa Mine and returned a head grade of 0.21 oz/t from 2,900 tons extracted," Mr. Andersen said.
“...Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement...”
Kerr Mines Inc. (TSX:KER) (OTCQB:KERMF) (FRANKFURT:7AZ1) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company at a price of $0.30 per Share for total gross proceeds of $6,111,564. Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr’s Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
“...Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement...”
Kerr Mines Inc. (TSX:KER) (OTCQB:KERMF) (FRANKFURT:7AZ1) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company at a price of $0.30 per Share for total gross proceeds of $6,111,564. Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr’s Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
“...Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement...”
Kerr Mines Inc. (TSX:KER) (OTCQB:KERMF) (FRANKFURT:7AZ1) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company at a price of $0.30 per Share for total gross proceeds of $6,111,564. Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr’s Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
“It’s highly unique, there’s no question about it,” Claudio Ciavarella, CEO of Kerr Mines (TSX: KER; US-OTC: KERMF), says of his decision, along with the company’s chairman, Fahad Al Tamimi, to restructure the company and lend it nearly $10 million of their own money.
But Ciavarella, an accountant who has built thriving businesses in Canada’s manufacturing, construction and real-estate sectors, and Al Tamimi, a Saudi-based businessman who has founded a flourishing engineering group in the Middle East and holds assets in oil and gas and mining, believe it’s worth the risk.
Both men have been investors in the junior long before it changed its name from Armistice Resources to Kerr Mines in 2014. Al Tamimi got involved in 2012 as an equity participant and shareholder, while Ciavarella has been an investor since 2005, and a director since 2013.
Between 2012 and 2014, however, the company had gone on an acquisition spree, acquiring projects and companies (including Copperstone through a merger with American Bonanza Gold in July 2014).
“During the course of that process it accumulated not only assets but also a lot of liabilities,” Ciavarella says. “Unfortunately, during 2014 to 2015 the equity market wasn’t very strong, so we put all of our assets on care and maintenance.”
By 2016, he says, it looked as though the equity and gold markets were on the brink of a recovery and management thought it was a good time to take the Copperstone project off the shelf. But the executive team had to deal with all the debt accumulated from the company’s earlier buying spree.
“We were upside down financially with regard to liabilities and obligations, so what we did was we ended up restructuring,” he says.
Kerr Mines started the process by selling off its non-core assets, primarily its properties in northern Ontario, to generate cash to deal with some of the $24 million it held in liabilities. When the total debt owed was whittled down to $9.5 million, Ciavarella and Al Tamimi each put up half the money and paid off the remaining creditors. The company has until 2019 to repay the loan, at which point management hopes the company will be cash-flow positive.
Ciavarella was appointed CEO in April 2017 and along with the board put together a strategy of creating value focused on advancing Copperstone. It has launched a drill program and plans to complete an updated resource estimate and a prefeasibility study in the first quarter of 2018, at which point, Ciavarella says, the company will be able to make a production decision.
“...
Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
By Maria Burns , in PR PR Economy on December 14, 2017 .
Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) (“Kerr” or the “Company”) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company (“Shares”) at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the “Offering”). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr's Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
The Offering has been conditionally approved by the Toronto Stock Exchange (“TSX“) but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws....”
1. Kerr Mines (TSX:KER)
Current price: $0.30; year-to-date gain: 160.87 percent
Kerr Mines retains its first-place position on our best gold stocks list after taking the top spot in Q3. Kerr is a North American gold exploration and development company whose focus is on commencing production at its Arizona-based Copperstone gold property.
In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project. Since then, Kerr has released a slew of drill results from Copperstone and has also announced a $5 million non-brokered private placement. Proceeds will be used for further exploration at the asset.
2. Kirkland Lake Gold (TSX:KL,NYSE:KL)
Current price: $16.99; year-to-date gain: 155.27 percent
Kirkland Lake Gold is a mid-tier gold company with mines in both Canada and Australia. Last year, the company merged with Newmarket Gold and acquired assets in Australia, including the Cosmo mine and Fosterville mine. Fosterville and the Ontario-based Macassa mine are the company’s key assets.
Since that time, the company has reported an increase in reserves underground from 240,000 ounces to over 1 million ounces at Fosterville alone. Kirkland Lake CEO Tony Makuch says that at Fosterville gold is produced without any by-products and with production costs just under $250 per ounce.
In August of this year, Kirkland Lake began trading on the NYSE, after which the company’s share price crossed the $15 mark for the first time. The company’s guidance for 2017 is 570,000 to 590,000 ounces of gold and it has “increased guidance already twice this year,” as per Makuch.
1. Kerr Mines (TSX:KER)
Current price: $0.30; year-to-date gain: 160.87 percent
Kerr Mines retains its first-place position on our best gold stocks list after taking the top spot in Q3. Kerr is a North American gold exploration and development company whose focus is on commencing production at its Arizona-based Copperstone gold property.
In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project. Since then, Kerr has released a slew of drill results from Copperstone and has also announced a $5 million non-brokered private placement. Proceeds will be used for further exploration at the asset.
2. Kirkland Lake Gold (TSX:KL,NYSE:KL)
Current price: $16.99; year-to-date gain: 155.27 percent
Kirkland Lake Gold is a mid-tier gold company with mines in both Canada and Australia. Last year, the company merged with Newmarket Gold and acquired assets in Australia, including the Cosmo mine and Fosterville mine. Fosterville and the Ontario-based Macassa mine are the company’s key assets.
Since that time, the company has reported an increase in reserves underground from 240,000 ounces to over 1 million ounces at Fosterville alone. Kirkland Lake CEO Tony Makuch says that at Fosterville gold is produced without any by-products and with production costs just under $250 per ounce.
In August of this year, Kirkland Lake began trading on the NYSE, after which the company’s share price crossed the $15 mark for the first time. The company’s guidance for 2017 is 570,000 to 590,000 ounces of gold and it has “increased guidance already twice this year,” as per Makuch.
1. Kerr Mines (TSX:KER)
Current price: $0.30; year-to-date gain: 160.87 percent
Kerr Mines retains its first-place position on our best gold stocks list after taking the top spot in Q3. Kerr is a North American gold exploration and development company whose focus is on commencing production at its Arizona-based Copperstone gold property.
In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project. Since then, Kerr has released a slew of drill results from Copperstone and has also announced a $5 million non-brokered private placement. Proceeds will be used for further exploration at the asset.
2. Kirkland Lake Gold (TSX:KL,NYSE:KL)
Current price: $16.99; year-to-date gain: 155.27 percent
Kirkland Lake Gold is a mid-tier gold company with mines in both Canada and Australia. Last year, the company merged with Newmarket Gold and acquired assets in Australia, including the Cosmo mine and Fosterville mine. Fosterville and the Ontario-based Macassa mine are the company’s key assets.
Since that time, the company has reported an increase in reserves underground from 240,000 ounces to over 1 million ounces at Fosterville alone. Kirkland Lake CEO Tony Makuch says that at Fosterville gold is produced without any by-products and with production costs just under $250 per ounce.
In August of this year, Kirkland Lake began trading on the NYSE, after which the company’s share price crossed the $15 mark for the first time. The company’s guidance for 2017 is 570,000 to 590,000 ounces of gold and it has “increased guidance already twice this year,” as per Makuch.
Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1)
("Kerr" or the "Company") is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company ("Shares") at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the "Offering"). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
"This financing is another positive step forward in achieving our strategic objectives," stated Claudio Ciavarella, Kerr's Chief Executive Officer. "With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision."
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted, past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
CONTACT INFORMATION
Claudio Ciavarella
Chief Executive Officer
416-855-9305
cciavarella@kerrmines.com
BTW NYBOB,
Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1)
("Kerr" or the "Company") is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company ("Shares") at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the "Offering"). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
"This financing is another positive step forward in achieving our strategic objectives," stated Claudio Ciavarella, Kerr's Chief Executive Officer. "With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision."
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted, past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
CONTACT INFORMATION
Claudio Ciavarella
Chief Executive Officer
416-855-9305
cciavarella@kerrmines.com
BTW PepsiMan,
Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1)
("Kerr" or the "Company") is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company ("Shares") at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the "Offering"). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
"This financing is another positive step forward in achieving our strategic objectives," stated Claudio Ciavarella, Kerr's Chief Executive Officer. "With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision."
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted, past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
CONTACT INFORMATION
Claudio Ciavarella
Chief Executive Officer
416-855-9305
cciavarella@kerrmines.com
Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
TORONTO, ONTARIO--(Marketwired - Dec. 14, 2017) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1)
("Kerr" or the "Company") is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).
In connection with the placement, the Company will issue 20,371,869 common shares of the Company ("Shares") at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the "Offering"). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.
"This financing is another positive step forward in achieving our strategic objectives," stated Claudio Ciavarella, Kerr's Chief Executive Officer. "With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision."
In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted, past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
CONTACT INFORMATION
Claudio Ciavarella
Chief Executive Officer
416-855-9305
cciavarella@kerrmines.com
Kerr Mines Inc (KER.TO) 0.30 0.00 (0.00%) REAL-TIME QUOTE. Prices update every five seconds for TSX-listed stocks
The Offering is scheduled to close on or about December 13, 2017. The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
Certain eligible persons (the "Finders") will be paid a cash commission up to 7% of the proceeds raised from subscribers introduced to the Company by such Finder in connection with the Offering.
The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws.
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Copper is needed for the production and running of electric vehicles, and soon miners may struggle under the weight of increased market demand. New copper mines are increasingly difficult to find, and though expansion of existing mines is also an option, many have already been expanded beyond their means.
Some analysts have predicted that copper prices could rise to as much as $10,000 per tonne as demand increases. It’s possible that the market price could reach $7000 per tonne before January, and $9000 toward the end of 2018 – making $10,000 a reasonable estimate within five or ten years.