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TORONTO, July 10, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that, further to its press release of June 29, 2017 announcing the closing of the first tranche of a proposed private placement (the "June Release"), it has completed its previously announced private placement of $8 million (the "Offering").
In connection with the final tranche, the Company issued 8,803,896 million units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of approximately $1.6 million and combined with the first tranche as disclosed in the Company's June Release, the Company has issued an aggregate of 44,444,434 Units for aggregate gross proceeds of approximately $8 million. Each Unit of the Offering is comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"), with each Warrant entitling the holder thereof to acquire a Common Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Common Shares trade on a stock exchange at a volume weighted average trading price of CDN$0.40, or greater, per Common Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The securities issued pursuant to the final tranche of the Offering are subject to a four month hold period, expiring on November 11, 2017. The Company will use the net proceeds from the Offering to finance its exploration program at its flagship Copperstone Mine in Arizona and for general working capital purposes.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 4,876,130 Units in the final tranche of the Offering. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as Mr. Al Tamimi, an insider of the Company subscribed for an aggregate of $877,703.40 in the final tranche of the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
For further information: Fiona Grant Leydier, Investor Relations, fgrantleydier@national.ca, 416.848.9851
RELATED LINKS
www.kerrmines.com
TORONTO, July 10, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that, further to its press release of June 29, 2017 announcing the closing of the first tranche of a proposed private placement (the "June Release"), it has completed its previously announced private placement of $8 million (the "Offering").
In connection with the final tranche, the Company issued 8,803,896 million units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of approximately $1.6 million and combined with the first tranche as disclosed in the Company's June Release, the Company has issued an aggregate of 44,444,434 Units for aggregate gross proceeds of approximately $8 million. Each Unit of the Offering is comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"), with each Warrant entitling the holder thereof to acquire a Common Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Common Shares trade on a stock exchange at a volume weighted average trading price of CDN$0.40, or greater, per Common Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The securities issued pursuant to the final tranche of the Offering are subject to a four month hold period, expiring on November 11, 2017. The Company will use the net proceeds from the Offering to finance its exploration program at its flagship Copperstone Mine in Arizona and for general working capital purposes.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 4,876,130 Units in the final tranche of the Offering. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as Mr. Al Tamimi, an insider of the Company subscribed for an aggregate of $877,703.40 in the final tranche of the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
For further information: Fiona Grant Leydier, Investor Relations, fgrantleydier@national.ca, 416.848.9851
RELATED LINKS
www.kerrmines.com
KERR MINES TRIES PRODUCTION START IN ARIZONA
Kerr Mines has successfully rehabilitated the Copperstone project in Arizona. Now the company is aiming to start production by 2019.
Sometimes you do not have to reinvent the wheel to get to your destination. There are many projects worldwide that have had to adjust their production in weaker gold price phases. And there are at least as many mines that have failed due to management errors. Often it sounds simple, but with one or two changes to the operation, you have a fully functional mine and produces cash flows. However, many projects have simply gone too far into production without having really understood the geology and texture of the rocks.
On average, it takes eight to ten years from the first well to the first casting of a gold bar. But you do not always have to start at zero. Many projects can be purchased or revived. At Kerr Mines, production could begin in early 2019, in less than 1.5 years.
Location, location, location
Based in the Canadian Toronto, the company is owned by the Copperstone project in the US state of Arizona. The prestigious Fraser Institute leads Arizona to number seven of the world's best places to operate or explore a mine. So it does not get any better.
Benefit from the mistakes of predecessors
In June 2014, Kerr Mines took over the then almost insolvent producer American Bonanza Gold and thus the Copperstone Mine. American Bonanza was forced to drive down the mine in October 2013 before commercial production was reached.
Kerr's predecessor built the mine in 2011 and started to operate the mill in November 2011. But from the beginning it did not go well. According to the last feasability study, construction costs should be $ 17.7 million.
At the end of December 2011 the costs were already at a rich US $ 27.4 million.
Kerr Mines saves millions
The additional costs are primarily due to two factors. A mere $ 6.6 million had to be raised to replace the contracted service provider who was to operate the mine. So you were forced to buy your own mining fleet and then wait. Kerr now owns exactly this mining fleet.
From Kerr Mines' point of view, another point is pure gold. The former owner has already complied with the requirements of the regulatory authorities in every detail. Thus the tailings-Pond was adapted during the construction. Instead of as originally calculated 1.7 million US dollar, it cost then 5.1 million US dollar. Kerr can now also save on these costs.
Savior with proper timing
The mill on the Copperstone project itself is also brand new. The capacity was originally designed for an annual production of around 46,000 ounces of gold. During the picking phase, however, the desired utilization rate of at least 60% was not achieved over 30 days. The reasons for this have been manifold. Among other things, the squeeze of the service provider, who was to manage the mine, caused significant delays. In the end, American Bonanza simply ran out of funds to continue the mine. In the course of the merger, Kerr Mines jumped as a savior to the company in 2014.
However, the mill on Copperstone worked excellently and delivered earnings rates close to the target of 90%. In the course of the decommissioning of the mine, American Bonanza has also ensured that all equipment is stored in such a way that it can be reused directly. Kerr Mines also benefits from this.
The biggest advantage at all
A point that has so far gone a little bit: Kerr Mines is by taking possession of all permits for the operation of the mine in Arizona. Often, this factor costs most of the time and thus a lot of money. Kerr Mines already holds all the permits and is likely to have saved a double-digit million sum.
KERR MINES TRIES PRODUCTION STYLE IN ARIZONA
Kerr Mines has successfully rehabilitated the Copperstone project in Arizona. Now the company is aiming to start production by 2019.
Sometimes you do not have to reinvent the wheel to get to your destination. There are many projects worldwide that have had to adjust their production in weaker gold price phases. And there are at least as many mines that have failed due to management errors. Often it sounds simple, but with one or two changes to the operation, you have a fully functional mine and produces cash flows. However, many projects have simply gone too far into production without having really understood the geology and texture of the rocks.
On average, it takes eight to ten years from the first well to the first casting of a gold bar. But you do not always have to start at zero. Many projects can be purchased or revived. At Kerr Mines, production could begin in early 2019, in less than 1.5 years.
Location, location, location
Based in the Canadian Toronto, the company is owned by the Copperstone project in the US state of Arizona. The prestigious Fraser Institute leads Arizona to number seven of the world's best places to operate or explore a mine. So it does not get any better.
Benefit from the mistakes of predecessors
In June 2014, Kerr Mines took over the then almost insolvent producer American Bonanza Gold and thus the Copperstone Mine. American Bonanza was forced to drive down the mine in October 2013 before commercial production was reached.
Kerr's predecessor built the mine in 2011 and started to operate the mill in November 2011. But from the beginning it did not go well. According to the last feasability study, construction costs should be $ 17.7 million.
At the end of December 2011 the costs were already at a rich US $ 27.4 million.
Kerr Mines saves millions
The additional costs are primarily due to two factors. A mere $ 6.6 million had to be raised to replace the contracted service provider who was to operate the mine. So you were forced to buy your own mining fleet and then wait. Kerr now owns exactly this mining fleet.
From Kerr Mines' point of view, another point is pure gold. The former owner has already complied with the requirements of the regulatory authorities in every detail. Thus the tailings-Pond was adapted during the construction. Instead of as originally calculated 1.7 million US dollar, it cost then 5.1 million US dollar. Kerr can now also save on these costs.
Savior with proper timing
The mill on the Copperstone project itself is also brand new. The capacity was originally designed for an annual production of around 46,000 ounces of gold. During the picking phase, however, the desired utilization rate of at least 60% was not achieved over 30 days. The reasons for this have been manifold. Among other things, the squeeze of the service provider, who was to manage the mine, caused significant delays. In the end, American Bonanza simply ran out of funds to continue the mine. In the course of the merger, Kerr Mines jumped as a savior to the company in 2014.
However, the mill on Copperstone worked excellently and delivered earnings rates close to the target of 90%. In the course of the decommissioning of the mine, American Bonanza has also ensured that all equipment is stored in such a way that it can be reused directly. Kerr Mines also benefits from this.
The biggest advantage at all
A point that has so far gone a little bit: Kerr Mines is by taking possession of all permits for the operation of the mine in Arizona. Often, this factor costs most of the time and thus a lot of money. Kerr Mines already holds all the permits and is likely to have saved a double-digit million sum.
Translated from German to English..
KERR MINES STREBT PRODUKTIONSSTART IN ARIZONA AN
Kerr Mines hat erfolgreich das Copperstone-Projekt in Arizona finanziell saniert. Nun strebt das Unternehmen die Aufnahme des Produktionsstarts bis 2019 an.
Manchmal muss man das Rad nicht neu erfinden, um ans Ziel zu kommen. Weltweit gibt es viele Projekte, die in schwächeren Goldpreisphasen ihre Produktion einstellen mussten. Und es gibt mindestens genauso viele Minen, die auf Grund von Managementfehlern gescheitert sind. Oftmals klingt es simpel, doch mit ein bis zwei Änderungen am Betriebsablauf hat man wieder eine voll funktionstüchtige Mine und produziert Cashflows. Viele Projekte sind aber auch einfach zu früh in Produktion gegangen, ohne dass man die Geologie und Beschaffenheit der Gesteinsschichten wirklich verstanden hatte.
Im Schnitt dauert es acht bis zehn Jahre vom ersten Bohrloch bis zum ersten Guss eines Goldbarrens. Doch man muss nicht immer bei Null anfangen. Viele Projekte lassen sich günstig erwerben oder wiederbeleben. Bei Kerr Mines könnte auf diese Weise bereits Anfang 2019 die Produktion anlaufen, also in weniger als 1,5 Jahren.
Lage, Lage, Lage
Die im kanadischen Toronto beheimatete Gesellschaft ist in Besitz des Copperstone-Projektes im US-Bundesstaat Arizona. Das renommierte Fraser Institute führt Arizona auf Platz sieben der weltweit besten Orte, um eine Mine zu betreiben oder zu explorieren. Besser geht es also kaum.
KERR MINES STREBT PRODUKTIONSSTART IN ARIZONA AN
Kerr Mines hat erfolgreich das Copperstone-Projekt in Arizona finanziell saniert. Nun strebt das Unternehmen die Aufnahme des Produktionsstarts bis 2019 an.
Manchmal muss man das Rad nicht neu erfinden, um ans Ziel zu kommen. Weltweit gibt es viele Projekte, die in schwächeren Goldpreisphasen ihre Produktion einstellen mussten. Und es gibt mindestens genauso viele Minen, die auf Grund von Managementfehlern gescheitert sind. Oftmals klingt es simpel, doch mit ein bis zwei Änderungen am Betriebsablauf hat man wieder eine voll funktionstüchtige Mine und produziert Cashflows. Viele Projekte sind aber auch einfach zu früh in Produktion gegangen, ohne dass man die Geologie und Beschaffenheit der Gesteinsschichten wirklich verstanden hatte.
Im Schnitt dauert es acht bis zehn Jahre vom ersten Bohrloch bis zum ersten Guss eines Goldbarrens. Doch man muss nicht immer bei Null anfangen. Viele Projekte lassen sich günstig erwerben oder wiederbeleben. Bei Kerr Mines könnte auf diese Weise bereits Anfang 2019 die Produktion anlaufen, also in weniger als 1,5 Jahren.
Lage, Lage, Lage
Die im kanadischen Toronto beheimatete Gesellschaft ist in Besitz des Copperstone-Projektes im US-Bundesstaat Arizona. Das renommierte Fraser Institute führt Arizona auf Platz sieben der weltweit besten Orte, um eine Mine zu betreiben oder zu explorieren. Besser geht es also kaum.
US pursues North Korean funds through 8 global banks
US pursues North Korean funds through 8 global banks
IRW-News: Kerr Mines Inc: Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
05.07.2017 - 08:02 | Quelle: dpa-AFX
IRW-PRESS: Kerr Mines Inc: Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
TORONTO, 29. Juni 2017 - Kerr Mines Inc. (Kerr oder das Unternehmen) (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) gibt bekannt, dass das Unternehmen die erste Tranche einer nicht vermittelten Privatplatzierung, die am 15. Juni 2017 und 21. Juni 2017 angekündigt wurde und überzeichnet war, abgeschlossen hat. Insgesamt wurde ein Bruttoerlös von 8.000.000 $ erwirtschaftet (das Angebot).
Im Rahmen der ersten Tranche begab das Unternehmen 35.640.538 Einheiten des Unternehmens (die Einheiten) zu einem Preis von 0,18 $ pro Einheit und erzielte damit einen Bruttoerlös von 6.415.297 $. Jede Einheit des Angebots besteht aus einer Stammaktie (eine Aktie) und einer Hälfte eines Stammaktienkaufwarrants (ein Warrant). Jeder ganze Warrant berechtigt den Inhaber innerhalb eines Zeitraums von 24 Monaten ab dem Ausgabedatum zum Erwerb einer Aktie zu einem Preis von 0,27 $ je Aktie.
Sollte der volumengewichtete durchschnittliche Börsenkurs der Aktien an 20 aufeinanderfolgenden Handelstagen bei 0,40 $ oder mehr liegen, kann das Unternehmen das Verfallsdatum der Warrants vorziehen, indem es die Inhaber der Warrants über den vorgezogenen Verfall benachrichtigt. In einem solchen Fall werden die Warrants am 30. Tag nach dem Datum der Benachrichtigung durch das Unternehmen verfallen. In Verbindung mit dem Angebot zahlte das Unternehmen an bestimmte bezugsberechtigte Personen Vermittlungsprovisionen in Höhe von insgesamt 153.717 $. Die Stammaktien, die in Verbindung mit dem Angebot ausgegeben wurden, sind an eine viermonatige Haltedauer bis zum 30. Oktober 2017 gebunden.
IRW-News: Kerr Mines Inc: Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
05.07.2017 - 08:02 | Quelle: dpa-AFX
IRW-PRESS: Kerr Mines Inc: Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
Kerr Mines gibt Abschluss der ersten Tranche der überzeichneten Privatplatzierung in Höhe von 8.000.000 $ bekannt
TORONTO, 29. Juni 2017 - Kerr Mines Inc. (Kerr oder das Unternehmen) (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) gibt bekannt, dass das Unternehmen die erste Tranche einer nicht vermittelten Privatplatzierung, die am 15. Juni 2017 und 21. Juni 2017 angekündigt wurde und überzeichnet war, abgeschlossen hat. Insgesamt wurde ein Bruttoerlös von 8.000.000 $ erwirtschaftet (das Angebot).
Im Rahmen der ersten Tranche begab das Unternehmen 35.640.538 Einheiten des Unternehmens (die Einheiten) zu einem Preis von 0,18 $ pro Einheit und erzielte damit einen Bruttoerlös von 6.415.297 $. Jede Einheit des Angebots besteht aus einer Stammaktie (eine Aktie) und einer Hälfte eines Stammaktienkaufwarrants (ein Warrant). Jeder ganze Warrant berechtigt den Inhaber innerhalb eines Zeitraums von 24 Monaten ab dem Ausgabedatum zum Erwerb einer Aktie zu einem Preis von 0,27 $ je Aktie.
Sollte der volumengewichtete durchschnittliche Börsenkurs der Aktien an 20 aufeinanderfolgenden Handelstagen bei 0,40 $ oder mehr liegen, kann das Unternehmen das Verfallsdatum der Warrants vorziehen, indem es die Inhaber der Warrants über den vorgezogenen Verfall benachrichtigt. In einem solchen Fall werden die Warrants am 30. Tag nach dem Datum der Benachrichtigung durch das Unternehmen verfallen. In Verbindung mit dem Angebot zahlte das Unternehmen an bestimmte bezugsberechtigte Personen Vermittlungsprovisionen in Höhe von insgesamt 153.717 $. Die Stammaktien, die in Verbindung mit dem Angebot ausgegeben wurden, sind an eine viermonatige Haltedauer bis zum 30. Oktober 2017 gebunden.
North Korea missile: US says it will use military force 'if we must'
The US has said that it will use its "considerable military forces" on North Korea "if we must".
Describing the North's latest missile test as a sharp military escalation, the US ambassador to the United Nations said the US will table a new resolution against Pyongyang.
Ambassador Nikki Haley also threatened to use trade restrictions.
The missile launch, the latest in a series of tests, was in defiance of a ban by the UN Security Council.
North Korea's test launch of an intercontinental ballistic missile (ICBM) on Tuesday was "quickly closing off the possibility of a diplomatic solution," Ms Haley said.
"The United States is prepared to use the full range of our capabilities to defend ourselves, and our allies," the US ambassador told the UN Security Council, meeting for an emergency session to discuss the test.
"One of our capabilities lies with our considerable military forces. We will use them, if we must, but we prefer not to have to go in that direction".
The French ambassador told the council that France also favours a new resolution on North Korea, which would tighten sanctions.
North Korea missile: US says it will use military force 'if we must'
The US has said that it will use its "considerable military forces" on North Korea "if we must".
Describing the North's latest missile test as a sharp military escalation, the US ambassador to the United Nations said the US will table a new resolution against Pyongyang.
Ambassador Nikki Haley also threatened to use trade restrictions.
The missile launch, the latest in a series of tests, was in defiance of a ban by the UN Security Council.
North Korea's test launch of an intercontinental ballistic missile (ICBM) on Tuesday was "quickly closing off the possibility of a diplomatic solution," Ms Haley said.
"The United States is prepared to use the full range of our capabilities to defend ourselves, and our allies," the US ambassador told the UN Security Council, meeting for an emergency session to discuss the test.
"One of our capabilities lies with our considerable military forces. We will use them, if we must, but we prefer not to have to go in that direction".
The French ambassador told the council that France also favours a new resolution on North Korea, which would tighten sanctions.
"... Return to Tender: Why Arizona and Other States Are Choosing Gold
By DAVID YOE WILLIAMS, JR. Follow ...."
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt."
-- John Adams
On Monday, May 22, Arizona joined a growing number of states that will recognize gold as "legal tender." Why have these states decided to follow this extraordinary path and how significant is this to our current financial structure? The answers to these questions remain largely ignored but are extremely important and relevant to each of us.
The bill signed into Arizona law by Governor Doug Ducey this week will make gold and silver "legal tender" starting Aug. 9, as many states return to our constitutional roots. The United States Constitution states in Article I, Section 10, "No state shall...make anything but gold and silver coin a tender in payment of debts." However, this simple statement has been ignored for many decades by virtually every state.
In their passivity, states empowered the Federal Reserve to dominate both the creation and the management our national currency on behalf of the federal government. But now things are changing.
By introducing legislation that re-establishes their constitutional prerogative, states like Arizona are effectively endorsing a competing currency to the dollar. By making this choice for "sound money" the states are saying, in effect, that the Fed has done a poor job of managing the currency and they are attempting to protect the wealth and savings of the citizens within their borders by providing them with an alternative to the endless supply of dollars being conjured up by the central bank.
The movement to provide a sound money alternative has been led by states such as Utah and Texas. Both of these states have not only accepted gold and silver as legal tender but have gone so far as to create bullion depositories to secure both the private and public precious metals within their respective borders. In this way they are assured the Fed will not be able to confiscate their wealth in times of economic stress or dollar tension.
The actual laws being passed by these states are very simple. They recognize gold and silver as currency and therefore it is free from taxation. So when a citizen buys precious metals and over time they appreciate in value against the dollar, it is not viewed as a capital gain and is therefore not taxed.
Investment gains are always taxed in one way or another, but gold and silver are "money" and imposing a tax on the exchanging of one form of money for another is unjust and unwise.
The inflation tax on every person holding "fiat money" whittles away at his or her savings and the future purchasing power of their assets. While the dollar (The Federal Reserve Note) has lost more than 97% of its purchasing power since the Federal Reserve System was created in 1913, gold and silver have acted as a much better store of value, rising 60 and 20-fold, respectively, in their dollar-denominated price.
Devaluation of fiat money is no accident. Even John Maynard Keynes, the economist who developed today's economic playbook for central planning through monetary policy, confessed: "By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
With an ever increasing number of states choosing to accept gold as legal tender they are signaling that the financial structure of the current system may be weakening and are preparing an alternative for their citizens if that structure falters or fails.
Arizona has chosen to follow the path of sound money and encourage the use of gold and silver as currency. This is money -- real money -- unencumbered by third parties or debt burdens assumed by others that cannot be repaid without monetary debasement or some other currency manipulation.
Seven states have passed laws that recognize gold and silver as legal tender. Many others are actively considering similar initiatives. Globally, central banks from Russia to China, Turkey to Iran, Western Europe, the European Central Bank and here in the U.S. all hold large amounts of gold as a key reserve asset within their portfolios.
We should all listen closely and attentively as gold is restored to a place of prominence in the world of currencies. And we should all begin to save a portion of our wealth in a currency that is not some other parties' debt obligation.
"... Return to Tender: Why Arizona and Other States Are Choosing Gold
By DAVID YOE WILLIAMS, JR. Follow ...."
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt."
-- John Adams
On Monday, May 22, Arizona joined a growing number of states that will recognize gold as "legal tender." Why have these states decided to follow this extraordinary path and how significant is this to our current financial structure? The answers to these questions remain largely ignored but are extremely important and relevant to each of us.
The bill signed into Arizona law by Governor Doug Ducey this week will make gold and silver "legal tender" starting Aug. 9, as many states return to our constitutional roots. The United States Constitution states in Article I, Section 10, "No state shall...make anything but gold and silver coin a tender in payment of debts." However, this simple statement has been ignored for many decades by virtually every state.
In their passivity, states empowered the Federal Reserve to dominate both the creation and the management our national currency on behalf of the federal government. But now things are changing.
By introducing legislation that re-establishes their constitutional prerogative, states like Arizona are effectively endorsing a competing currency to the dollar. By making this choice for "sound money" the states are saying, in effect, that the Fed has done a poor job of managing the currency and they are attempting to protect the wealth and savings of the citizens within their borders by providing them with an alternative to the endless supply of dollars being conjured up by the central bank.
The movement to provide a sound money alternative has been led by states such as Utah and Texas. Both of these states have not only accepted gold and silver as legal tender but have gone so far as to create bullion depositories to secure both the private and public precious metals within their respective borders. In this way they are assured the Fed will not be able to confiscate their wealth in times of economic stress or dollar tension.
The actual laws being passed by these states are very simple. They recognize gold and silver as currency and therefore it is free from taxation. So when a citizen buys precious metals and over time they appreciate in value against the dollar, it is not viewed as a capital gain and is therefore not taxed.
Investment gains are always taxed in one way or another, but gold and silver are "money" and imposing a tax on the exchanging of one form of money for another is unjust and unwise.
The inflation tax on every person holding "fiat money" whittles away at his or her savings and the future purchasing power of their assets. While the dollar (The Federal Reserve Note) has lost more than 97% of its purchasing power since the Federal Reserve System was created in 1913, gold and silver have acted as a much better store of value, rising 60 and 20-fold, respectively, in their dollar-denominated price.
Devaluation of fiat money is no accident. Even John Maynard Keynes, the economist who developed today's economic playbook for central planning through monetary policy, confessed: "By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
With an ever increasing number of states choosing to accept gold as legal tender they are signaling that the financial structure of the current system may be weakening and are preparing an alternative for their citizens if that structure falters or fails.
Arizona has chosen to follow the path of sound money and encourage the use of gold and silver as currency. This is money -- real money -- unencumbered by third parties or debt burdens assumed by others that cannot be repaid without monetary debasement or some other currency manipulation.
Seven states have passed laws that recognize gold and silver as legal tender. Many others are actively considering similar initiatives. Globally, central banks from Russia to China, Turkey to Iran, Western Europe, the European Central Bank and here in the U.S. all hold large amounts of gold as a key reserve asset within their portfolios.
We should all listen closely and attentively as gold is restored to a place of prominence in the world of currencies. And we should all begin to save a portion of our wealth in a currency that is not some other parties' debt obligation.
(CNN)US Secretary of State Rex Tillerson strongly condemned North Korea's intercontinental ballistic missile launch, calling it "a new escalation of the threat to the United States, our allies and partners, the region, and the world" in a statement Tuesday.
"Global action is required to stop a global threat," he said. "Any country that hosts North Korean guest workers, provides any economic or military benefits, or fails to fully implement UN Security Council resolutions is aiding and abetting a dangerous regime."
Tillerson also called for the denuclearization of the Korean Peninsula and stated the US "will never accept a nuclear-armed North Korea."
North Korea claimed Wednesday that it was just that. A statement from Pyongyang's official Korean Central News Agency said Tuesday's test was of a new, nuclear-capable ICBM.
North Korean leader Kim Jong Un called it an Independence Day present to the US, adding "we should deliver big and small presents often," KCNA said.
Tillerson's strong statement marks a striking contrast to when North Korea conducted a test in April and Tillerson said: "North Korea launched yet another intermediate-range ballistic missile. The United States has spoken enough about North Korea. We have no further comment."
(CNN) The United States and South Korea held a joint missile drill after North Korea claimed to have conducted its first successful test of a long-range missile.
"Together with the Republic of Korea, we conducted a combined exercise to show our precision fire capability," Pentagon spokeswoman Dana White said in a statement released Tuesday night.
US Army and South Korean military personnel conducted the exercise to counteract North Korea's "destabilizing and unlawful actions," a statement from the US Army said. The exercise used the Army Tactical Missile System, or ATACMS, and the Republic of Korea Hyunmoo Missile II, which fired missiles into territorial waters of South Korea along the East Coast, according to the US Army statement.
North Korea claims to have developed a new nuclear capable intercontinental ballistic missile with a stable re-entry system, state news agency KCNA said Wednesday in a report after the most recent missile test.
(CNN) US Secretary of State Rex Tillerson strongly condemned North Korea's intercontinental ballistic missile launch, calling it "a new escalation of the threat to the United States, our allies and partners, the region, and the world" in a statement Tuesday.
"Global action is required to stop a global threat," he said. "Any country that hosts North Korean guest workers, provides any economic or military benefits, or fails to fully implement UN Security Council resolutions is aiding and abetting a dangerous regime."
Tillerson also called for the denuclearization of the Korean Peninsula and stated the US "will never accept a nuclear-armed North Korea."
North Korea claimed Wednesday that it was just that. A statement from Pyongyang's official Korean Central News Agency said Tuesday's test was of a new, nuclear-capable ICBM.
North Korean leader Kim Jong Un called it an Independence Day present to the US, adding "we should deliver big and small presents often," KCNA said.
Tillerson's strong statement marks a striking contrast to when North Korea conducted a test in April and Tillerson said: "North Korea launched yet another intermediate-range ballistic missile. The United States has spoken enough about North Korea. We have no further comment."
BARRICK GOLD & Arizona... Hmmm...?
Business Category: Mining
Phone:
(520) 618-1090
Barrick Gold
10371 N. Oracle Road #201
Oro Valley, AZ 85737
Directions to Barrick Gold
https://www.orovalleyaz.gov/business/business-navigator/mining/barrick-gold
Freeport-McMoRan Copper & Gold
10861 N. Stallard Place
Freeport-McMoRan Copper & Gold Inc. (FCX) is a leading international mining company with headquarters in Phoenix, Arizona.
Performance Associates International
10195 N. Oracle Road #105
BRS Mining
12480 N. Rancho Vistoso Bl. #130
Anglo American Exploration Inc.
12480 N. Rancho Vistoso Bl. #130
BHP Copper
180 W. Magee Rd. #134 B & 152
TSavorite USA, Inc.
1832 E. Innovation Park Dr.
Agnico Eagle Mines Ltd.
12470 N. Rancho Vistoso Blvd.
https://www.orovalleyaz.gov/business/mining
I am hoping one of Kerr's obvious competitors in Arizona do not purchase Kerr Mines for pennies on the dollar this fall?
Cheers,
GPB
PS Martin Kostuik once worked for Barrick so... https://www.linkedin.com/in/martin-kostuik-77b6b912
Kerr Mines Inc. (QB) (KERMF)
0.178 * -0.007 (-3.78%)
Volume: 674
@ 12:47:37 PM ET
Day's Range
BID 0.0001 ASK 0.391
BARRICK GOLD & Arizona... Hmmm...?
Business Category: Mining
Phone:
(520) 618-1090
Barrick Gold
10371 N. Oracle Road #201
Oro Valley, AZ 85737
Directions to Barrick Gold
https://www.orovalleyaz.gov/business/business-navigator/mining/barrick-gold
Freeport-McMoRan Copper & Gold
10861 N. Stallard Place
Freeport-McMoRan Copper & Gold Inc. (FCX) is a leading international mining company with headquarters in Phoenix, Arizona.
Performance Associates International
10195 N. Oracle Road #105
BRS Mining
12480 N. Rancho Vistoso Bl. #130
Anglo American Exploration Inc.
12480 N. Rancho Vistoso Bl. #130
BHP Copper
180 W. Magee Rd. #134 B & 152
TSavorite USA, Inc.
1832 E. Innovation Park Dr.
Agnico Eagle Mines Ltd.
12470 N. Rancho Vistoso Blvd.
https://www.orovalleyaz.gov/business/mining
I am hoping one of Kerr's obvious competitors in Arizona do not purchase Kerr Mines for pennies on the dollar this fall?
Nagoya, I am far more positive about http://kerrmines.com/release/?id=122654
Good luck,
GPB
PS "...TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering")...."
In recent years, there have been organized efforts across the country to pass laws recognizing gold and silver as money.
So far, there hasn't been any success on the national level, but efforts at the state level have been more positive.
In fact, one state was recently able to get a legal tender law passed. This means gold and silver are now legal forms of money in this state.
Let’s look at where this law passed and what it means for you and other precious metal owners.
HB 2014 Defines Precious Metals as Legal Tender
In May 2017, Arizona Governor Doug Ducey signed HB 2014 into law. This means that in the state of Arizona, precious metals, such as gold and silver, are now legal tender.
Arizona residents can purchase goods and services directly with gold and silver. Perhaps more importantly, Arizona residents can now sell gold and silver without paying any capital gains taxes to the state. Campaign for Liberty reports:
HB 2014 defines gold, silver, and other precious metals as legal tender and exempts them from capital gains taxes, thus allowing Arizona residents to use precious metals instead of Federal Reserve notes.
Dr. [Ron] Paul testified before the Arizona Senate Finance Committee in support of the bill in March.
"Every supporter of free-markets should cheer Arizona’s passage of HB 2014. There is no more justification for forcing individuals to use government-created money than there is for forcing them to drive government-manufactured cars. In fact, as the Federal Reserve’s 114 years of failure shows, giving monopoly control over our money supply to a secretive central bank is the most dangerous form of government intervention," said Dr. Ron Paul.
Fortunately, Arizona is not the only state that recognizes gold and silver as money.
China, the world’s biggest gold market, may boost imports through Hong Kong by about half this year as local investors seek to protect their wealth from currency risks, a slowing property market and volatile stocks, according to the Chinese Gold & Silver Exchange Society.
Mainland China is set to import about 1,000 metric tons from the territory in 2017, said Haywood Cheung, president of the century-old exchange in Hong Kong which trades physical gold and silver. That compares with net purchases of 647 tons last year and would be the biggest since 2013, data from the Hong Kong Census and Statistics Department compiled by Bloomberg show.
In recent years, there have been organized efforts across the country to pass laws recognizing gold and silver as money.
So far, there hasn't been any success on the national level, but efforts at the state level have been more positive.
In fact, one state was recently able to get a legal tender law passed. This means gold and silver are now legal forms of money in this state.
Let’s look at where this law passed and what it means for you and other precious metal owners.
HB 2014 Defines Precious Metals as Legal Tender
In May 2017, Arizona Governor Doug Ducey signed HB 2014 into law. This means that in the state of Arizona, precious metals, such as gold and silver, are now legal tender.
Arizona residents can purchase goods and services directly with gold and silver. Perhaps more importantly, Arizona residents can now sell gold and silver without paying any capital gains taxes to the state. Campaign for Liberty reports:
HB 2014 defines gold, silver, and other precious metals as legal tender and exempts them from capital gains taxes, thus allowing Arizona residents to use precious metals instead of Federal Reserve notes.
Dr. [Ron] Paul testified before the Arizona Senate Finance Committee in support of the bill in March.
"Every supporter of free-markets should cheer Arizona’s passage of HB 2014. There is no more justification for forcing individuals to use government-created money than there is for forcing them to drive government-manufactured cars. In fact, as the Federal Reserve’s 114 years of failure shows, giving monopoly control over our money supply to a secretive central bank is the most dangerous form of government intervention," said Dr. Ron Paul.
Fortunately, Arizona is not the only state that recognizes gold and silver as money.
Saturn-Five, well the odds of Copperstone gold Mine going into production in early 2018 just substantially increased imho...
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/33937-kerr-mines-annouces-closing-of-first-tranche-of-oversubscribed-8-000-000-private-placement.html
https://www.financialstrend.com/billionaire-eric-sprott-builds-position-in-gold-mine-34436.html
http://www.marketwatch.com/story/kerr-mines-annouces-closing-of-first-tranche-of-oversubscribed-8000000-private-placement-2017-06-29-16202450
MerthyrQ, finally some positive news from Kerr Mines...
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/33937-kerr-mines-annouces-closing-of-first-tranche-of-oversubscribed-8-000-000-private-placement.html
Abu Dhabi (CNN)Saudi Arabia has denied a report that former crown prince Mohammed bin Nayef, who was ousted as next in line to the throne last week, is being held under house arrest.
A senior Saudi official described a New York Times report that Mohammed bin Nayef had been confined to his palace in Jeddah and prevented from leaving the country as "untrue, completely false and baseless."
"Nothing has changed for Prince Mohammed, except of stepping down from his government positions. He hosts guests and leaves his house on a daily basis since he has stepped down," the official told CNN Thursday. "Further, there are no restrictions on his movement whatsoever, either in or outside of Saudi Arabia."
The report comes just a week after a dramatic reshuffling of Saudi Arabia's line of succession. In a series of decrees King Salman removed his nephew Mohammed bin Nayef, 57, as crown prince and installed his 31-year-old son Mohammed bin Salman in his place.
Abu Dhabi (CNN)Saudi Arabia has denied a report that former crown prince Mohammed bin Nayef, who was ousted as next in line to the throne last week, is being held under house arrest.
A senior Saudi official described a New York Times report that Mohammed bin Nayef had been confined to his palace in Jeddah and prevented from leaving the country as "untrue, completely false and baseless."
"Nothing has changed for Prince Mohammed, except of stepping down from his government positions. He hosts guests and leaves his house on a daily basis since he has stepped down," the official told CNN Thursday. "Further, there are no restrictions on his movement whatsoever, either in or outside of Saudi Arabia."
The report comes just a week after a dramatic reshuffling of Saudi Arabia's line of succession. In a series of decrees King Salman removed his nephew Mohammed bin Nayef, 57, as crown prince and installed his 31-year-old son Mohammed bin Salman in his place.
If you wish to contact Kerr Mines directly:
365 Bay Street, Suite 400
Toronto, Ontario, M5H 2V1
Tel: +1 (416) 855-9300
Email: info@kerrmines.com
PepsiMan when you contact Kerr Mines please share any pertinent info with this audience...
Cheers,
GPB
C. G. B. Spencer, Kerr Mines just...:
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
BTW EmptyBones...
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
NY Bob, Kerr Mines just $$$
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
Agreed, Mr Carnita $$$ Kerr Mines is...:
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
PepsiMan I am actually starting to have a little faith in Kerr Mines...
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
KERR MINES ANNOUCES CLOSING OF FIRST TRANCHE OF OVERSUBSCRIBED $8,000,000 PRIVATE PLACEMENT
TORONTO, June 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER, OTCQB: KERMF, FRA: 7AZ1) announces that it has closed the first tranche of a non-brokered private placement previously announced on June 15, 2017 and June 21, 2017, which was oversubscribed, raising gross proceeds of $8,000,000 (the "Offering").
The Company completed the first tranche of the Offering consisting of 35,640,538 units of the Company (the "Units") at a price of $0.18 per Unit for total gross proceeds of $6,415,297. Each Unit of the Offering is comprised one common share ("Share") and one-half of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to acquire a Share at a price of $0.27 per share for a period of 24 months from the date of issuance, provided, that if, at any time the Shares trade at a volume weighted average trading price of $0.40, or greater, per Share for a period of 20 consecutive trading days. The Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company. In connection with the Offering the Company paid finder fees totalling $153,717 to certain eligible persons. The securities issued pursuant to the Offering are subject to a four month hold period, expiring on October 30, 2017.
The Company will use the net proceeds from the Offering to finance its exploration and development at its flagship Copperstone Mine in Arizona.
Mr. Fahad Al Tamimi, who is the Chairman of the Board, acquired a total of 1,111,111 Units. The Offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as insiders of the Company subscribed for an aggregate of $200,000. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering in an expeditious manner. In addition, Mr. Tamimi will participate in the second tranche of the Offering.
The Offering has been conditionally approved by the Toronto Stock Exchange ("TSX") but remains subject to final approval from the TSX.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the fully permitted past-producing Copperstone Mine project. Copperstone is a high-grade gold project located along the Walker Lane mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 12,000 acre land package which 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.
SOURCE Kerr Mines Inc.
Ecstatic to-learn there-is-going to-be a Kerr AGM ...
Michael, who exactly provided you with the Sept. AGM info from Kerr?
Did they put it in writing ?
I hope Kerr posts on Sedar their year end or their latest quarter financial info on or around June 30th...
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00003818
I will be at the AGM when and if it actually...
Cheers
GPB
£18*1,000,000 = £18,000,000 $o...Peter Damouni will-not-remain long if he sees no possibility of financial success regarding Kerr Mines IMHO
The fact that both Pete Damouni and Fahad Al Tamimi have had incredible recent success with Georgian Mines bodes well for Kerr Mines shareholders... They are not going to waste their time or energy on an unprofitable gold mine. We should know within a year if Kerr is going to sink or swim with the golden sharks? IMHO...
"...Peter Damouni..."
http://kerrmines.com/corporate/
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Peter Damouni
2.
Reason for the notification
a)
Position/status:
Non-Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Georgian Mining Corporation
b)
LEI:
2138002IOR7OCZZPB279
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Share options over ordinary shares of no par value
VGG9688A1003
b)
Nature of the transaction:
Grant of options over ordinary shares
c)
Price(s) and volume(s):
Price(s) 18.25 pence
Volume(s) 1,000,000
d)
Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) 18.25 pence
Volume(s) 1,000,000
e)
Date of the transaction:
2017-06-23
18:30 hrs UTC
f)
Place of the transaction:
Outside a trading venue
Home
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Investors
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Investors
Share Price Information Significant Shareholders Advisers Corporate Documents
AIM Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM Rules.
Last updated: 05.10.2016
Business Description
Click here to view a description of Georgian Mining Corporation’s business.
Directors Names and Biographies
Click here to view the names and biographies of Georgian Mining Corporation’s directors.
Board members’ responsibilities
Click here to view a description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities.
Country of Incorporation and Main Country of Operation
Georgian Mining Corporation is incorporated and registered in the British Virgin Islands with the company number 1570939. Its main country of operation is Georgia. As the Company is not incorporated in the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company.
Georgian Mining Corporation is not listed on any other exchanges or trading platforms.
Constitutional and Admission Documents
Click here to view Georgian Mining Corporation’s constitutional and admission documents and any circulars sent to shareholders within the past 12 months.
Company Reports
Click here to view the Company’s Annual Reports and Half Yearly Report..
Share Price Information
Significant Shareholders
The Company is listed on AIM. The Company does not hold any ordinary shares in the Treasury.
Issued and fully paid
Number: 114,574,491
Major Shareholders
As of 30 May 2017 the Company is aware of the following who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are set out below.
Shareholder Number of ordinary shares %of issued capital
TB Amati UK 6,712,491 5.86
Fahad Al-Tamimi 6,149,075 5.37
Mr Leo N. S. Berezan 6,148,100 5.37
Edale Capital LLP 4,968,750
£18*1,000,000 = £18,000,000 $o...Peter Damouni will not remain long if he sees no possibility of financial success regarding Kerr Mines IMHO
http://kerrmines.com/corporate/
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Peter Damouni
2.
Reason for the notification
a)
Position/status:
Non-Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Georgian Mining Corporation
b)
LEI:
2138002IOR7OCZZPB279
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Share options over ordinary shares of no par value
VGG9688A1003
b)
Nature of the transaction:
Grant of options over ordinary shares
c)
Price(s) and volume(s):
Price(s) 18.25 pence
Volume(s) 1,000,000
d)
Aggregated information:
Aggregated volume:
Price:
Single transaction as in 4 c) above
Price(s) 18.25 pence
Volume(s) 1,000,000
e)
Date of the transaction:
2017-06-23
18:30 hrs UTC
f)
Place of the transaction:
Outside a trading venue
Home
Team
Projects
Investors
News
Contact
Investors
Share Price Information Significant Shareholders Advisers Corporate Documents
AIM Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM Rules.
Last updated: 05.10.2016
Business Description
Click here to view a description of Georgian Mining Corporation’s business.
Directors Names and Biographies
Click here to view the names and biographies of Georgian Mining Corporation’s directors.
Board members’ responsibilities
Click here to view a description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities.
Country of Incorporation and Main Country of Operation
Georgian Mining Corporation is incorporated and registered in the British Virgin Islands with the company number 1570939. Its main country of operation is Georgia. As the Company is not incorporated in the UK, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company.
Georgian Mining Corporation is not listed on any other exchanges or trading platforms.
Constitutional and Admission Documents
Click here to view Georgian Mining Corporation’s constitutional and admission documents and any circulars sent to shareholders within the past 12 months.
Company Reports
Click here to view the Company’s Annual Reports and Half Yearly Report..
Share Price Information
Significant Shareholders
The Company is listed on AIM. The Company does not hold any ordinary shares in the Treasury.
Issued and fully paid
Number: 114,574,491
Major Shareholders
As of 30 May 2017 the Company is aware of the following who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are set out below.
Shareholder Number of ordinary shares %of issued capital
TB Amati UK 6,712,491 5.86
Fahad Al-Tamimi 6,149,075 5.37
Mr Leo N. S. Berezan 6,148,100 5.37
Edale Capital LLP 4,968,750
https://www.stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=26396978
Gold Prices Mark UK's Brexit Vote Anniversary +16% in Sterling, Lower in Dollars
Friday, 6/23/2017 14:16
GOLD PRICES on Friday marked the first anniversary of Britain's referendum vote to leave the European Union by trading 0.7% lower from 23 June 2016 in Dollars, 1.1% higher in Euros, and 16.0% higher against the British Pound.
European stock markets extended this week's drop as gold prices pushed $5 higher from last Friday to $1258.75 per ounce.
That helding the MSCI World Index near unchanged for this month so far but 15.2% higher in US Dollar terms from the day of the UK's Brexit vote.
London's FTSE100 index has risen 17.0% in Sterling terms since what leading anti-EU politician and campaigner Nigel Farage called "the UK's independence day... a victory for real people", but it has only gained 1.9% in non-Sterling terms after accounting for the Pound's crash on the currency market.
The gold spot price in Sterling rose 0.8% on Friday from this time last week, trading above £988 per ounce.
Gold fixed the afternoon of 23 June 2016 at £851.57, hitting a 3-year peak at £1069 two weeks later.
https://www.bullionvault.com/gold-news/gold-prices-brexit-062320172
Despite both the expectation and the reality on the ground of higher interest rates in the U.S., the dollar has not responded with a fresh rally. In fact, the greenback was down 0.2% on the DXY index this morning, falling to 97.4. Beyond defying normal economic logic, the lack of a positive response from the USD could be indicative of a larger shift in policy by the government regarding the currency. In the past, the U.S. has stood hard and fast behind the notion of a “strong dollar policy,” generally promoting a stronger currency at the expense of greater exports and overseas profits. President Trump has tacitly indicated he’s more open to a weaker currency if that’s what generates the best results for the economy.
oil-rig
Another reason the lack of a rally for the dollar is a bit surprising is because the crude oil market has largely gone the opposite direction in recent weeks. The preservation of production cuts by Russia and OPEC member nations helped crude prices edge higher this morning, although WTI crude remains stuck below $43 per barrel. Meanwhile, Brent crude was modestly above $45/bbl. Given the fundamentals in place—an oversupply of crude and ever-greater alternative energy options—many are characterizing oil’s mini-rally as merely a “dead cat bounce,” or just a momentary reprieve that doesn’t change the overall downtrend.
https://www.stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=26396978
Gold Prices Mark UK's Brexit Vote Anniversary +16% in Sterling, Lower in Dollars
Friday, 6/23/2017 14:16
GOLD PRICES on Friday marked the first anniversary of Britain's referendum vote to leave the European Union by trading 0.7% lower from 23 June 2016 in Dollars, 1.1% higher in Euros, and 16.0% higher against the British Pound.
European stock markets extended this week's drop as gold prices pushed $5 higher from last Friday to $1258.75 per ounce.
That helding the MSCI World Index near unchanged for this month so far but 15.2% higher in US Dollar terms from the day of the UK's Brexit vote.
London's FTSE100 index has risen 17.0% in Sterling terms since what leading anti-EU politician and campaigner Nigel Farage called "the UK's independence day... a victory for real people", but it has only gained 1.9% in non-Sterling terms after accounting for the Pound's crash on the currency market.
The gold spot price in Sterling rose 0.8% on Friday from this time last week, trading above £988 per ounce.
Gold fixed the afternoon of 23 June 2016 at £851.57, hitting a 3-year peak at £1069 two weeks later.
https://www.bullionvault.com/gold-news/gold-prices-brexit-062320172
When is Kerr Mines going to have their next annual meeting or a special meeting? IN 2017? 2018?
http://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=173120
http://www.ariva.de/news/kerr-mines-kuendigt-nicht-vermittelte-privatplatzierung-in-6281348