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More on Marathon Gold Corp (MOZ)
"http://www.tmx.com/en/news_events/exchange_bulletins/bulletins/12-1-2010_TSX-NewListingMOZ.html"
Marathon Gold Corporation To Trade On Toronto Stock Exchange
December 1, 2010
Marathon Gold Corporation (the "Marathon Gold") - An application has been granted for the original listing in the Mining category of 19,599,170 common shares, of which 17,817,428 shares are issued and outstanding and 1,781,742 shares are reserved for issuance.
The common shares will be listed and posted for trading at the opening on Friday, December 3, 2010.
Marathon Gold is subject to the reporting requirements of Section 501 of the TSX Company Manual.
Pursuant to a recently effected plan of arrangement (the "Arrangement") involving Marathon PGM Corporation ("Marathon PGM") (Symbol: MAR), Stillwater Mining Company ("Stillwater") (NYSE stock symbol: SWC) and Marathon Gold, Stillwater has indirectly purchased each common share of Marathon PGM for 0.112 of a share of common stock of Stillwater, $1.775 in cash, and 0.5 of a common share of Marathon Gold. See elsewhere in today's Toronto Stock Exchange's ("TSX") Bulletins for further information regarding the Arrangement, including the delisting of the Marathon PGM common shares.
No fractional Marathon Gold common shares will be issued pursuant to the Arrangement and any such fraction will be rounded down to the nearest whole number and no consideration will be paid in respect of such fraction.
Stock Symbol: "MOZ"
CUSIP: 56580Q 10 2
Currency: CDN$
Temporary Market Maker: Desjardins Securities Inc.
Other Markets: None
Head Office Address: 330 Bay Street, Suite 1505
Toronto, Ontario
M5H 2S8
Head Office Telephone Number: (416) 861-0851
Fax Number: (416) 861-1925
E-mail: jkirke@marathon-gold.com
Website: www.marathon-gold.com
Investor Relations Contact: David Leng, P. Geo
(416) 849-3432
dleng@marathon-gold.com
Incorporation: Marathon Gold was incorporated under the Canada Business Corporations Act on December 3, 2009 as "7289812 Canada Inc." and, by filing of articles of amendment on March 12, 2010, changed its name to "Marathon Gold Corporation".
Fiscal Year End: December 31
Nature of Business: Marathon Gold has an option to acquire a 50% interest in the Valentine Lake gold exploration project in Newfoundland and interests in other exploration properties in Canada.
Chief Financial Officer and Secretary: James D. Kirke
Transfer Agent & Registrar: CIBC Mellon Trust Company, Toronto.
Dividends: Marathon Gold has not paid any dividends on the common shares.
Page Last Updated: December 13, 2010
News News:
Marathon Gold Corporation and New Jersey Mining Company Announce Formation of Golden Chest LLC
Date : 12/16/2010 @ 12:21PM
Source : GlobeNewswire Inc.
Stock : New Jersey Mining Company (NJMC)
Quote : 0.33 0.12 (57.14%) @ 12:47PM
Marathon Gold Corporation and New Jersey Mining Company Announce Formation of Golden Chest LLC
New Jersey Mining Company (OTCBB:NJMC)
Intraday Stock Chart
Today : Thursday 16 December 2010
Click Here for more New Jersey Mining Company Charts.
Marathon Gold Corporation (TSX:MOZ) ("MGC") and New Jersey Mining Company (OTCBB:NJMC) ("NJMC") jointly announced the formation of Golden Chest LLC ("GC"). GC is owned 50% by MGC through its wholly owned US subsidiary Marathon Gold USA Corp. ("MUSA") and 50% by NJMC, with NJMC being the operator.
Highlights:
* the Golden Chest Mine is the largest historical producer of gold in the Coeur d'Alene Mining District, is fully permitted and sits on private land
* a 1,050 meter long main level allows ideal access for exploration
* historic production came from a network of high-grade veins which averaged 17 grams per tonne
* the Golden Chest Mine has a mineable underground reserve totaling 39,659 gold ounces, which is SEC compliant
* 2011 plans include over 10,000 m of underground and surface drilling and over 400 m of underground development to explore the surface and underground mining potential
Phillip Walford, President and Chief Executive Officer of Marathon Gold, commented, "The Golden Chest Mine gives Marathon Gold a rare opportunity to explore and rapidly develop open pit potential resources as well as underground resources and reserves. Newmont intersected up to 20 meters of gold mineralization grading better than a gram per tonne near surface and the accessible 1,050 meter long main level is an ideal drilling platform for exploring and defining the vein systems. It is remarkable that there is very little surface and underground drilling on the property."
Fred Brackebusch, President of New Jersey Mining Company, also commented, "The Golden Chest has a long and colorful history but it has not been explored adequately, especially at depth. We look forward to this joint venture arrangement that will allow the potential of the mine to finally be realized."
The Golden Chest Mine is located two miles east of Murray, Idaho within the gold belt of the Coeur d'Alene Mining District. The mine has over 3,900 meters of underground workings and has the permits necessary to drill and operate on the deposit. The property includes 21 patented mining claims and 21 unpatented mining claims covering 206 hectares.
The Golden Chest Mine
Placer gold was discovered in the streams near Murray in 1882 and led to a gold rush that was the birth of the Coeur d'Alene Mining District. Past gold production for the Murray area is estimated at 300,000 ounces, including of 200,000 ounces from placers. The Golden Chest was the location of one of the first lode claims in the district, and is the largest historic lode producer of gold in the district with production estimated at approximately 65,000 ounces mostly from shallow underground mining of the Katie and Dora high grade veins. Most of this historic mining took place in the late 1890's and 1900's. In the late 1980's Newmont Exploration Limited (NEL) explored the Golden Chest with 35 shallow reverse circulation and 5 core holes and estimated an "inferred geologic resource" of 231,000 ounces at 1.66 grams per tonne (gpt). This historic resource was primarily contained to a large quartz vein system known as the Idaho vein on the southern end of the property.
NJMC has leased the property since 2003 and conducted small scale underground mining totaling 8,400 tonnes grading 6.90 gpt. A 500 meter ramp was driven to connect the the No. 3 level. NJMC also completed about 3,500 meters of core drilling on the property and was successful at extending the Idaho vein at depth, which was successful. Highlights from this period of drilling include: DDH04-6, which intercepted 15.5 meters grading 5.50 gpt gold and DDH05-3, which intercepted 7.1 meters assaying 10.32 gpt gold. NJMC has also estimated the SEC-compliant reserve of 242,000 tonnes grading 5.10 gpt gold along the Idaho vein.
Geology
Gold mineralization at the Golden Chest is related to a thrust fault known as the Idaho fault and the property is located on the west limb of the Trout Creek anticline, a major north-trending fold in the Prichard formation. The Idaho fault occurs at the contact of Prichard formation units G and H. Unit G, a quartzitic unit, is the host for most of the veins while the overlying Unit H is an argillite-siltite sequence of rocks. Though, near the fault, Unit H has been found to host narrow, high-grade vein structures.
In the southern part of the mine, gold mineralization is found near and parallel to the north-trending Idaho fault, while the northern part of the mine hosts the higher grade Katie and Dora veins, which splay off the Idaho fault in a northeasterly direction. Gold mineralization can be found along at least 1,500 meters of strike length. The lowest level of the Golden Chest mine is the No. 3 level, which is at the valley bottom elevation. Here drilling has only probed the Idaho vein about 120 meters below this level in a district known for hosting orebodies that outcrop on surface and continue at depth for 2,500 meters.
Exploration and Development Plan
The exploration and development plan for the Golden Chest will consist of both surface and underground core drilling as well as underground development. About 7,200 meters of surface drilling and 3,600 meters of underground drilling are planned for 2011. The goals of the drilling program will be to increase the density of drilling on the surface for a NI 43-101 compliant resource estimate and also to extend the mineralization down dip. An underground mapping and sampling program will also be undertaken.
Additionally, a new No. 3 adit will be driven to provide a secondary escape for potential future production which could be processed at NJMC's processing facility in Kellogg, Idaho. A down ramp will be driven from this new adit to investigate a higher grade portion of the Idaho vein sampled in the 1920's that reportedly averaged 11.8 gpt gold. New crosscuts will also be driven in the southern and northern parts of the mine. The northern crosscuts will provide drilling platforms targeting potential high-grade Katie-Dora type veins at depth.
Venture Terms
GC has purchased the Golden Chest Mine near Murray Idaho, a past gold producer, for US$3,750,000. GC has paid the sellers US$500,000 in cash on closing the transaction and has agreed to pay to the sellers US$500,000 each year for the next six years and a final payment of US$250,000 on the seventh anniversary. The sellers have a first mortgage on the mine as security for the future payments owing.
NJMC has contributed to GC certain mining claims it owned, all geological data and certain mining equipment. Also in consideration for its interest in GC, NJMC has terminated, for the benefit of GC, two operating leases it held on the mine. MUSA has contributed US$1,000,000 cash and has agreed to contribute i) US$500,000 by March 31, 2011, ii) US$500,000 by June 30, 2011, iii) US$1,000,000 by September 30, 2011 and vi) US$1,000,000 by November 30, 2011 for a total cash contribution of US$4 million. If MUSA does not make all of the US$4M payments to GC, its 50% ownership interest will be reduced. MUSA has the right to contribute an additional US$3.5 million by November 30, 2012 to take its ownership interest to 60% of GC. MUSA also has the option to accelerate any of these contributions.
After the earlier to occur of completion of the initial contribution of US$4M or a default in paying any remaining amount of the initial contribution, a joint funding program will commence. If MUSA chooses not to contribute to required funding and NJMC contributes such funding, MUSA's ownership interest will be reduced.
MGC has also agreed to purchase from NJMC 2 million units for US$0.20 per unit, each unit comprised of one share of NJMC and one warrant to purchase an additional share of NJMC at US$0.30 per share for two years.
Phillip Walford, P.Geo., President and CEO, is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.
About Marathon Gold Corporation:
Marathon Gold Corporation is one of Canada's newest gold resource development companies, with projects located in the mining friendly province of Newfoundland and Labrador and now a project in the prolific Coeur d'Alene Mining District. Marathon has a tiered project pipeline consisting of early stage exploration to advanced resource development projects which can be built into mineable reserves. Marathon is continually evaluating new gold resource development projects of merit that are located within the Americas. Marathon's focused and low-cost approach to resource development and exploration has an established record of delivering rapid growth. Marathon Gold Corp. (TSX:MOZ) ("Marathon") is the operator of the Valentine Lake Project under the sub-option and joint venture agreement ("OJVA") between Mountain Lake and Marathon.
About New Jersey Mining Company:
New Jersey Mining Company is involved in exploring for and developing gold, silver and base metal resources in the Coeur d'Alene Mining District of northern Idaho. New Jersey Mining Company has a portfolio of mineral properties in the Coeur d'Alene Mining District including the New Jersey Mine which includes a fully-permitted flotation mill and a concentrate leach plant.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements and forward-looking information in this news release include statements with respect to the completion of the exploration and development plan, the venture and the purchase of NJMC securities by MGC.. Such statements are based on good faith assumptions that management believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. The assumptions include that contracted parties provide goods and/or services on the agreed timeframes, that no labour shortages or delays are incurred, that no material adverse change occurs to either Marathon or NJMC. Factors that could cause actual results to differ from those anticipated are discussed in NJMC's periodic filings with the Securities and Exchange Commission.
Further information about NJMC and its properties can be found at the company's website at www.newjerseymining.com.
Neither NJMC nor MGC undertakes the obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
CONTACT: Marathon Gold Corporation
David Leng, P.Geo.
1.416.849.3432
Fax: 1.416.861.1925
dleng@marathon-gold.com
www.marathon-gold.com
New Jersey Mining Company
Grant Brackebusch, Vice President
1.208.783.1032
ir@newjerseymining.com
www.newjerseymining.com
NJMC.....news out..........Marathon Gold Corporation (TSX:MOZ) ("MGC") and New Jersey Mining Company (OTCBB:NJMC) ("NJMC") jointly announced the formation of Golden Chest LLC ("GC"). GC is owned 50% by MGC through its wholly owned US subsidiary Marathon Gold USA Corp. ("MUSA") and 50% by NJMC, with NJMC being the operator.
I agree with the first quote, below so remember it when you post your opinions IMHO!!!! The second quote already came true....they made a bundle :).
"don't try and make an opinion look like a fact because its not, you have no proof of that. "
"people stay strong, this company looks to have great things coming for themselves... "
This may just pop enough for the ones in @ bottom to make a few bucks but the private emails and lack of formal PR's convinced me it is time to get out.........GLTA.......seen this stuff before...live and learn once again :).
This may just pop enough for the ones in @ bottom to make a few bucks but the private emails and lack of formal PR's convinced me it is time to get out.........GLTA.......seen this stuff before...live and learn once again :).
I was willing to walk without any further comment but since you feel the need to single me out as someone who jumped ship as some kind of proof LOL.....let me say this company does have some thing coming........more dilution and lower prices.......
GLTU........
"Yes, we are moving forward towards production asap! I'm waiting on some auditing thing to button up some agreements."
God luck to all on this one.......out at 0.02..........
IMHO
Of course a 10Q report is better then no report but the words "fully reporting." can be confusing at times as to what they really are telling us(a PR carefully structured does not mean the same to all). DD is king I agree...........but one has to take the good with the bad and weigh ones options.........this looks to me like it has lots of potential left!
edit: wrong board LOL
Pinky, full reporting, no information OTC layera nd whatever.......to me they are not that much different.......they can all gag TA's or have at their disposal a multitude of filings to control or manipulate SS to raise money.............remember there is lots of money to be made here in the swamps but at the end of the pump and PR's the Share price and structure will collapse back to the 200 DMA, RS or worse.......I am learning the hard way to take the money when you have it as the price will always come back down for a good consolidated buy in......
GLTA IMHO
All I am saying is the emails mean nothing less then lies that can be PR'ed........we all know how it is down here in the swamp and if one cannot even get a PR but has to rely on emails that are generic and someone is paid 10 cents to hit a reply button it does not look good .........I agree with trapper on one thing every one email him and demand that he put out a real PR on where we are going and the time frame to get there..........
Don't take this the wrong way Trapper but stop with the emails...they don't even have any proof what so ever that they are an actually email....not saying they are not real but that does not matter what does matter is that that kind of pump will scare people to death SMA*S got involved with that and a few on board claimed to know him so well and to trust them.......that is still on the greys today......TELL HIM if the company has anything real to PR then send out a real PR on the wire...... The email you posted looks real bad to me and am almost convinced to get out of this one.....I know you want this to go up but private emails are the worst thing ever in this land IMHO!!!!!!!
Been watching this one as well as ALTO......I think investor sentiment is not good for pinky gold plays sure but the price here reflects lack of real news and impatience to wait for it......it has a great float and moves very easy........got hopes for this one still GLTA........
GlTA tomorrow.......bring the rifles.......we gonna need them for the BEARS hanging out on the 0.026 freshly formed resistance line.....
IMHO....OUT
If I bought in today I would like the chart LOL........at worse a real good flip coming for ya GLTU.......
You are right but lots are not that lucky as you to get in that low...if it continues to fall(with no news it will IMHO) you loose commissions or 5% LOL........but if all the longs cut their loses and get out asap........you yourself are gonna take a good hit......GLTU.
Nah he talking to dumb asses like me LOL..........I will soon loose it all if I don't bail but I am staying positive this will go back up to 0.044 correct?LOL.
Really.......you mean there is no one on here with a 50 to $150,000.00 account? I think lots camp here and put 5 or 10 together and you have a group who can run a stock....so I for one believe some stocks are fragile to manipulation and pump and dump with just the little old powder rate here among us :).
Do your own DD as I would never advise another what to do but....if you look at the charts from Dec. 1, 2010( the day this took off from 200 DMA) to today's close you will note that all the volume has been @ or above the 0.015........if this were to not hold then it is possible we go to 0.013 200 DMA......that breaks and game over...0.006 here we come.
Todays action was on volume of 358,000 shares traded....this is lowest days volume we had since Dec1, 2010 by alot.
I for one am holding for more then low volume shake...GLTU
I own both and to tell ya the truth learned lots about trading with these two LOL........we need lots of help here but I still think the game is not over........
Looking crazy over here........looks like the 0.0034 area is holding for now and if it falls then the next area looks like 0.0024.......not sure where after that.......looking for entry but still up 140% lots of profit takers waiting to pull trigger and the volume has dried up.......GLTA....will wait to see what happens here!
Good luck on your newly owned short position :)!!!!!!
Could of sold here a few times but with gold the way it is now and speculation with any thing connected to it.........I just don't believe that this is a bad hold........this will go up and it is coming very soon ...IMHO GLTA GO BONZ!!!!
150K :).
I agree........this will go to greener skies for those that have the fore sight...........got burnt on last 3 will see how this plays out GLTA.....night night!!!!
So today we get a bearish Black Candle Stick/reversal Continuation ...witch is a possible consolidation, which needs confirmation of the next trading day to show its strength.......gotta love this shit lol.......
GLTA IMHO
LOL..........U GTR............
OverAll FEEL BULLISH HERE
Well we got a HAMMER Today on the daily charts.............very close to a Doji Bullish Dragonfly Pattern... significant on possible reversal trend downward.
Since Dec. 6/2010, HOD 0.040 and today Dec. 10/2010(0.016) we have a symatrical/falling wedge developing(today fell outside of the wedge but the volume was small)..tomorrow close @ 0.02 we complete 3 prevailing tops and we already have 3 falling bottoms(trending lower lows downward).
Look for volume decrease possible on Monday to complete 3'rd bottom @ 0.02 and then look for a volume serge to break the Dec. 9 high of 0.024 to go to newer skies...
Note: If support is broken with above average volume @ 0.015 the next support line of support is 0.012/0.014 200 day MA!!!
AIMHO ......GO BONZ GLTA....
Well what can I say about all the craziness lately other then go ALTO go;in @.044(high) lol dummy. I know this can run but no need to pump or dump because what will happen will happen here....just stupid the way I played it but learning thanks to all the knowledgeable people here............
Looking at the daily chart for the last three days I see this:
1. Dec.8- Long Legged Doji - Market Top
2. Dec.9- Black Spinning top - Reversal continuation
3. Dec.10- Short/black Candle Stick - short/Black Candle stick
Reversal continuation
possible consolidation
I hope for the best but the falling wedge theory is ok but without news does not convince me as all I read, one should have like a 2 to 3 month period to apply it. We breached the 0.032 support and killed it, we tested the 0.026 support and as seen above verdict is pending, volume is declining(wedge i wish on consolidation), fall below the 0.026 support and smash it; we have 0.013 200 Day MA to save us.
Dam ALTO Insiders F off........let us run before all go else where..............IMHO......GLTA
Gap up tomorrow and do this all over again........IMO GLTA......outta here :).
It is but if the bulls hold tuff and the dam company stops killing us soon very soon..........we may just do ok.
Dam sucks to be right here comes 0.026....hope it holds.
GLTA
My guess is we hold some green EOD.................we shall see who else is a bid whacker lol.
Who ever dumped on the bid with the low volume we have today in this stock needs to learn how to trade.......he or she just got ripped by the MM and in all odds only got a partial fill as the MM ran........GO BONZ GLTA IMHO.
Sadly 0.026-7 may be loading area today............
Huge green candle forming.......go ALTO.............
Good call , 0.032 area held so this should head back up ....
Why do I always get in at the high on these lol.........oh well live, learn and study TA or get slaughtered....GLTA.
I am in this and have not flipped like most in @ 0.044.......looking at the charts if this breaks below the 0.032 area......the next stop I believe is the 0.026 support area....I hope I am wrong as I do not know much about charts but dam why this keep going down.........below 0.0367 open today is more then profit taking.come on ALTO smarten up IMHO GLTA.
Need a little push to get us over the 0.04 resistance level.....took to runs @ it and fell back.......next run we should bust this resistance and head to blue skies....IMHO GLTA