retired
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Encouraging news from the drillers on the ILI property. Expanding the number of holes being drilled. Obviously they feel their finding justify continuing.
I don't wish to be a bit concerned, but visuals are not a for sure indication. The assays will give us a factual picture. Then we can be more positive.
" (TSXV:ILI)(OTCQB:ARXRF) is very pleased to announce plans to double its current 5 hole drill program to 10 holes on the Fredart property located in the prolific Red Lake Mining District. Drilling to date has encountered massive to stringer sulphide mineralization which appears to be associated with banded iron formation horizons.
To date the drill program has intersected mineralization along strike at approximately 1.2 km to the east of the known core of the Cu-Ag mineralized area. The eastern area has seen little exploration and the target was selected by following a conductive and magnetic anomaly. In addition, drilling at Fredart has intersected mineralization at deeper levels than typically expected down to a depth of approximately 240 m. Previous drilling on the property had intersected mineralization principally from surface down to 150m depth. Until now 140 samples have been sent to SGS Laboratories for analysis.
Given the success and rapid advancement of the drill program the Company has elected to double the size of the program to 10 holes.
The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Dr. Michel Bolly, P.Geo, is the qualified person as defined by National Instrument 43-101 has designed and is managing the current drill program on behalf of Infinite Ore, and is responsible for approving the technical contents of this press release.
6 WORDS- MOVE OVER ZOOM HERE COMES IMAGINE AR
' (“ImagineAR” or “Company”) an Augmented Reality Company that enables businesses, sports teams and organizations to create their own AR campaigns, would like to take this opportunity to provide investors with a mid-year corporate update during this holiday shortened week in which both the Canadian and American stock markets will be closed for their respective independence day holidays.
Though the Company fully expects to resume the release of further news related to significant business development after this week, investors will be happy to hear about new developments in this update.
AN INCREDIBLE BUT NOT SURPRISING 2020 SO FAR FOR IMAGINEAR
Alen Paul Silverrstieen, CEO of ImagineAR, stated “This was the year that, by all expert accounts, was the year that Augmented Reality would begin to make its first commercialization push and it did not disappoint. Despite dramatic geo-political, economic and societal volatility from the start of 2020 resulting in delays to some of our negotiations, we were still able to close a significant financing, announce significant national and global partnerships, and add top notch people to our board and team. It is safe to say that we anticipate significant results to stem from this positioning in the second half of the year and, quite frankly, for the foreseeable future”.
MARKET CAPITALIZATION APPRECIATION IN 2020
The Company’s great progress in 2020, as well as, positioning for growth can best be observed through our market capitalization growth in 2020. At the outset of the year, ImagineAR had a market capitalization of less than $5,000,000. Today, that figure sits at approximately $25,000,000.
Furthermore, liquidity and dollar volume trading in the first quarter was encouraging and showed us signs of promise, which came to fruition at the end of the second quarter with daily dollar volume trading regularly exceeding $500,000 and even surpassing $3,000,000 recently.
Silverrstieen added “With a market cap of approximately $25 million dollars, ImagineAR continues to provide investors with a great opportunity to participate in the anticipated growth of Augmented Reality, which promises to be a disruptive over the next 3 years and then well beyond into the rest of the decade”.
2020 HIGHLIGHTS FOR IMAGINEAR
January 21 – Retained Mackie Research For Capital Market Services
January 30 – Closed Financing First Tranche Of $560,000
February 11 – Mike Tuncliffe, Former EVP & Head Of Universal Music Group and Brands, Joins Advisory Board.
“I believe ImagineAR has the potential to transform music & entertainment related properties into unique immersive experiences for fans and consumers across the Globe”
February 26 – ImagineAR Closes Over Subscribed Financing For $1,500,000
April 29 – ImagineAR Signs 5-Year, $300,000 Licensing Agreement With SlapItOn For Athletes to Engage Fans Through Augmented Reality.
“ImagineAR is the most advanced augmented reality mobile platform in the marketplace today. We are planning to provide a unique platform in today’s world for artists and athletes to engage safely and consistently with fans in their homes”
May 12 – ImagineAR Announces Partnership With Engaged Nation, An Award Winning Digital Marketing Firm For Casinos
May 19 – ImagineAR Appoints Troy Miller, With Over $500 Million In Career Sports Sponsorships and Media Deals, As Advisor For Sports Venues and Live Streaming
“ImagineAR brings a leading edge Augmented Reality platform to the pro sports and collegiate athletic teams venues for fan engagement and new revenue streams.”
June 4 – ImagineAR Partners With North Highland, Ranked By Forbes As One Of America’s Best Management Consulting Firms In 2020.
June 15 – ImagineAR Teams Up With Music Superstar Flo Rida, NBA Superstar Dwyane Wade and Broward County Education Fund To Help Students Celebrate Graduation Through Augmented Reality
“This futuristic ImagineAR augmented reality technology is a trip – Flo Rida”
ImagineAR Video Recording Integration With TikTok & Instagram Receives Significant Media Coverage
ImagineAR launched its latest mobile app update in time for the Broward County initiative for students to record their Augmented Reality dance experiences with Flo Rida and instantly upload them to TikTok. The Flo Rida AR experience was covered by the NY Times, NBC, CBS, NPR and many other media outlets throughout the United States.
This new Augmented Reality Video Record feature allows users to record their immersive ImagineAR experiences and share them instantly into TikTok, as well as, other social media platforms.
To this end, ImagineAR just launched a special Holiday AR Experience today in which anyone in the USA or Canada can enjoy for free. Simply download the ImagineAR mobile app (IOS and Android), Select “AR Near Me”, record and share in social media. It is that easy. Make sure to tag #ImagineARHoliday so that we can discover you.
IMAGINEAR SELECTED AS FINALIST TO PRESENT AT WORLD FOOTBALL SUMMIT & GLOBAL SPORTS INNOVATION CENTER – POWERED BY MICROSOFT
The WFS startcup by GSIC is known for its power to catapult sportech start-ups into the big leagues. 16 start ups from 10 different countries have been selected out of 90 candidates to pitch to the global football (Soccer – America) industry at WFS Live, where startups will have the opportunity to pitch their solutions to 100+ top speakers and nearly 3,000 industry professionals from all over the world from July 6th to 9th.
This selection demonstrates the recognition ImagineAR is gaining from the global sports industry as a disruptive technology that is capable of transforming the global football and sports industry.
The Global Sports Innovation Center (GSIC) is a business cluster powered by Microsoft Sport Team that gathers sports entities (clubs, federation, and associations), institutions, technology companies at all stages of development, research organizations, investors and key figures of sport industry to improve its value chain.
IMAGINEAR SIGNS PARTNERSHIP WITH FIRST ESCAPE ROOMS IN AMERICA TO INCORPORATE AUGMENTED REALITY – WITH POTENTIAL GLOBAL EXPANSION
Escape Room NJ, with 3 locations in New Jersey, has executed a partnership agreement to become both a client and reseller of ImagineAR. Escape Room NJ will be first-ever Escape Room in North America to integrate immersive Augmented Reality within their three locations, as well as, offer AR Scavenger Hunts to their consumer and corporate clientele. There are over 2,000 Escape Rooms around the world.
Jeff Sherer, Owner of Escape Room NJ stated “We are very excited to announce a partnership with Imagine AR. Working with them, we are proud to announce the first ever AR Escape Rooms in the world. In this day and age where some people are not comfortable to be in large groups or even indoors with other people, we believe this will offer a whole new avenue to play Escape Rooms and Scavenger Hunts outdoors around our location or even remotely out doors in their own neighborhoods using only their mobile phone. KIDS BIRTHDAY PARTIES ARE BACK ON with Escape Room and Imagine AR working together the opportunities are limitless as is the fun."
Sherer added "We are also going to be the first company to introduce AR into Rage Rooms. Partnering with Imagine AR we look forward to taking the most Smashingly Good Times you can have with an assortment of weapons and make it even better!"
Silverrstieen stated “This partnership with Escape Room NJ demonstrates the limitless applications for ImagineAR in any industry and any location. With respect to Escape Rooms specifically, Jeff is closely associated with Escape Room owners around the world and plans to present ImagineAR as an additional great product for their customers and revenue stream for owners.”
Escape Room NJ is one of New Jersey’s most popular Escape Room companies. Opening the first location in Bergen County NJ back in 2015, they have grown and branched into Hatchet Throwing, Kids Parties, Virtual Reality, Human Bumper Balls and many more exciting forms of entertainment for Teambuilding, Parties, Fundraisers and any other group event for all ages.
Rage Room is the first and the largest Rage Room company in NJ. With locations in Madison, Pompton Lakes and Englewood NJ they are the ultimate place to go and "BREAK SH!T"
PARTING HOLIDAY WISHES
The Company wishes its investors in both Canada (July 1st) and America (July 4th) safe and happy holidays. Finally, ImagineAR extends its thanks to all shareholders for their support and looks forward to achieving great things together over the remainder of 2020 and well beyond.
This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
6 WORDS- MOVE OVER ZOOM HERE COMES IMAGINE AR
' (“ImagineAR” or “Company”) an Augmented Reality Company that enables businesses, sports teams and organizations to create their own AR campaigns, would like to take this opportunity to provide investors with a mid-year corporate update during this holiday shortened week in which both the Canadian and American stock markets will be closed for their respective independence day holidays.
Though the Company fully expects to resume the release of further news related to significant business development after this week, investors will be happy to hear about new developments in this update.
AN INCREDIBLE BUT NOT SURPRISING 2020 SO FAR FOR IMAGINEAR
Alen Paul Silverrstieen, CEO of ImagineAR, stated “This was the year that, by all expert accounts, was the year that Augmented Reality would begin to make its first commercialization push and it did not disappoint. Despite dramatic geo-political, economic and societal volatility from the start of 2020 resulting in delays to some of our negotiations, we were still able to close a significant financing, announce significant national and global partnerships, and add top notch people to our board and team. It is safe to say that we anticipate significant results to stem from this positioning in the second half of the year and, quite frankly, for the foreseeable future”.
MARKET CAPITALIZATION APPRECIATION IN 2020
The Company’s great progress in 2020, as well as, positioning for growth can best be observed through our market capitalization growth in 2020. At the outset of the year, ImagineAR had a market capitalization of less than $5,000,000. Today, that figure sits at approximately $25,000,000.
Furthermore, liquidity and dollar volume trading in the first quarter was encouraging and showed us signs of promise, which came to fruition at the end of the second quarter with daily dollar volume trading regularly exceeding $500,000 and even surpassing $3,000,000 recently.
Silverrstieen added “With a market cap of approximately $25 million dollars, ImagineAR continues to provide investors with a great opportunity to participate in the anticipated growth of Augmented Reality, which promises to be a disruptive over the next 3 years and then well beyond into the rest of the decade”.
2020 HIGHLIGHTS FOR IMAGINEAR
January 21 – Retained Mackie Research For Capital Market Services
January 30 – Closed Financing First Tranche Of $560,000
February 11 – Mike Tuncliffe, Former EVP & Head Of Universal Music Group and Brands, Joins Advisory Board.
“I believe ImagineAR has the potential to transform music & entertainment related properties into unique immersive experiences for fans and consumers across the Globe”
February 26 – ImagineAR Closes Over Subscribed Financing For $1,500,000
April 29 – ImagineAR Signs 5-Year, $300,000 Licensing Agreement With SlapItOn For Athletes to Engage Fans Through Augmented Reality.
“ImagineAR is the most advanced augmented reality mobile platform in the marketplace today. We are planning to provide a unique platform in today’s world for artists and athletes to engage safely and consistently with fans in their homes”
May 12 – ImagineAR Announces Partnership With Engaged Nation, An Award Winning Digital Marketing Firm For Casinos
May 19 – ImagineAR Appoints Troy Miller, With Over $500 Million In Career Sports Sponsorships and Media Deals, As Advisor For Sports Venues and Live Streaming
“ImagineAR brings a leading edge Augmented Reality platform to the pro sports and collegiate athletic teams venues for fan engagement and new revenue streams.”
June 4 – ImagineAR Partners With North Highland, Ranked By Forbes As One Of America’s Best Management Consulting Firms In 2020.
June 15 – ImagineAR Teams Up With Music Superstar Flo Rida, NBA Superstar Dwyane Wade and Broward County Education Fund To Help Students Celebrate Graduation Through Augmented Reality
“This futuristic ImagineAR augmented reality technology is a trip – Flo Rida”
ImagineAR Video Recording Integration With TikTok & Instagram Receives Significant Media Coverage
ImagineAR launched its latest mobile app update in time for the Broward County initiative for students to record their Augmented Reality dance experiences with Flo Rida and instantly upload them to TikTok. The Flo Rida AR experience was covered by the NY Times, NBC, CBS, NPR and many other media outlets throughout the United States.
This new Augmented Reality Video Record feature allows users to record their immersive ImagineAR experiences and share them instantly into TikTok, as well as, other social media platforms.
To this end, ImagineAR just launched a special Holiday AR Experience today in which anyone in the USA or Canada can enjoy for free. Simply download the ImagineAR mobile app (IOS and Android), Select “AR Near Me”, record and share in social media. It is that easy. Make sure to tag #ImagineARHoliday so that we can discover you.
IMAGINEAR SELECTED AS FINALIST TO PRESENT AT WORLD FOOTBALL SUMMIT & GLOBAL SPORTS INNOVATION CENTER – POWERED BY MICROSOFT
The WFS startcup by GSIC is known for its power to catapult sportech start-ups into the big leagues. 16 start ups from 10 different countries have been selected out of 90 candidates to pitch to the global football (Soccer – America) industry at WFS Live, where startups will have the opportunity to pitch their solutions to 100+ top speakers and nearly 3,000 industry professionals from all over the world from July 6th to 9th.
This selection demonstrates the recognition ImagineAR is gaining from the global sports industry as a disruptive technology that is capable of transforming the global football and sports industry.
The Global Sports Innovation Center (GSIC) is a business cluster powered by Microsoft Sport Team that gathers sports entities (clubs, federation, and associations), institutions, technology companies at all stages of development, research organizations, investors and key figures of sport industry to improve its value chain.
IMAGINEAR SIGNS PARTNERSHIP WITH FIRST ESCAPE ROOMS IN AMERICA TO INCORPORATE AUGMENTED REALITY – WITH POTENTIAL GLOBAL EXPANSION
Escape Room NJ, with 3 locations in New Jersey, has executed a partnership agreement to become both a client and reseller of ImagineAR. Escape Room NJ will be first-ever Escape Room in North America to integrate immersive Augmented Reality within their three locations, as well as, offer AR Scavenger Hunts to their consumer and corporate clientele. There are over 2,000 Escape Rooms around the world.
Jeff Sherer, Owner of Escape Room NJ stated “We are very excited to announce a partnership with Imagine AR. Working with them, we are proud to announce the first ever AR Escape Rooms in the world. In this day and age where some people are not comfortable to be in large groups or even indoors with other people, we believe this will offer a whole new avenue to play Escape Rooms and Scavenger Hunts outdoors around our location or even remotely out doors in their own neighborhoods using only their mobile phone. KIDS BIRTHDAY PARTIES ARE BACK ON with Escape Room and Imagine AR working together the opportunities are limitless as is the fun."
Sherer added "We are also going to be the first company to introduce AR into Rage Rooms. Partnering with Imagine AR we look forward to taking the most Smashingly Good Times you can have with an assortment of weapons and make it even better!"
Silverrstieen stated “This partnership with Escape Room NJ demonstrates the limitless applications for ImagineAR in any industry and any location. With respect to Escape Rooms specifically, Jeff is closely associated with Escape Room owners around the world and plans to present ImagineAR as an additional great product for their customers and revenue stream for owners.”
Escape Room NJ is one of New Jersey’s most popular Escape Room companies. Opening the first location in Bergen County NJ back in 2015, they have grown and branched into Hatchet Throwing, Kids Parties, Virtual Reality, Human Bumper Balls and many more exciting forms of entertainment for Teambuilding, Parties, Fundraisers and any other group event for all ages.
Rage Room is the first and the largest Rage Room company in NJ. With locations in Madison, Pompton Lakes and Englewood NJ they are the ultimate place to go and "BREAK SH!T"
PARTING HOLIDAY WISHES
The Company wishes its investors in both Canada (July 1st) and America (July 4th) safe and happy holidays. Finally, ImagineAR extends its thanks to all shareholders for their support and looks forward to achieving great things together over the remainder of 2020 and well beyond.
This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
The company must reduce its debt to maintain its existence. At least this transaction goes into strong friendly hands
("Mint" or the "Company") today announced that it has entered into a shares for debt agreement, pursuant to which the Company proposes to issue 19,918,258 common shares at a deemed price per common share of $0.05 (the "Shares for Debt Settlement") to satisfy $995,912.87 of indebtedness currently owing to Mobile Telecommunication Group LLC ("MTG"). The indebtedness is pursuant to accrued and unpaid interest on the Series A debentures of the Company held by MTG.
MTG is a wholly-owned subsidiary of Global Business Services for Multimedia ("GBS"), which is a control person of the Company. Accordingly, the Shares for Debt Settlement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Holders in Special Transactions ("MI 61-101"). The Company will rely on the exemption from the valuation requirement and the minority approval requirement pursuant to subsections 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities will not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101. The participation by MTG in the Shares for Debt Settlement has been approved by directors of the Company who are independent in connection with such transaction.
The Shares for Debt Settlement is subject to the approval of the TSX Venture Exchange. The common shares issued pursuant to the Shares for Debt Settlement will be subject to a four month hold period from the date of issuance.
A material change report will be filed less than 21 days before the closing date of the Shares for Debt Settlement. The Company believes this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position by reducing its accrued liabilities as soon as possible.]
Share price running very similar to when it went to .90.
Then, as now, a couple of favourable events started the move. Then quiet, from management all the way up.
Share price running very similar to when it went to .90.
Then, as now, a couple of favourable events started the move. Then quiet, from management all the way up.
Maybe it is the stresses of virus 19, but I am getting weary of the PP of Medgold. They claim a" track record of building value in resource companies," But where is the revenue from such companies. They keep searching, but no development completed to provide revenue.
" (TSXV:MED) announces that it proposes, subject to stock exchange approval, to complete a non-brokered private placement financing of up to 40 million units at $0.05 per unit, for proceeds of up to $2 million. Each unit will consist of one common share and one full warrant, each warrant entitling the holder to purchase one additional common share of the Company at $0.10 for three years from closing.
The Company may pay a finder's fee on a portion of the financing. The proceeds of the placement are intended to be used for further development of the Company's Tlamino Project in Serbia, and for general working capital purposes.
About Medgold Resources Corp.
Medgold is a TSX-V listed, gold exploration company targeting early-stage properties in the Balkan region. Run by an experienced management team with a successful track-record of building value in resource companies, Medgold is focused on growth through fast-paced exploration and resource definition in the prospective and under-explored Balkan region.
Finally. a fixed PP to provide the money to pay for the necessary drilling to prove the value of the Caldera holdings. Remember, the assays are the true value. Ignore reported visual results.
" "Discovery Harbour") is pleased to announce a non-brokered private placement consisting of the issuance of up to 54,545,455 units (each, a "Unit") at a price of $0.055 per Unit for gross proceeds of up to $3,000,000 (the "Offering"). Insiders, as that term is defined in the policies of the TSX Venture Exchange, may participate in the Offering.
Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant, with each whole warrant (each, a "Warrant") entitling the holder to purchase one Share at a price of $0.10 per Share for a period of three years following the closing of the Offering (the "Closing"). The Offering is scheduled to close on or before July 17, 2020.
Finders' fees may be payable in connection with the Offering in accordance with the policies of the Exchange.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the sale of the Offering will be used to conduct further work, including a planned drill program on high priority targets on the Company's Caldera epithermal gold project in southern Nevada, to pay outstanding debt, and for general working capital.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Discovery Harbour Resources Corp.
Discovery Harbour is a Canadian TSX Venture Exchange listed company (TSXV: DHR) focused on sourcing, exploring and developing mineral properties, with a strategic focus on gold projects, in order to enhance shareholder value. Its current focus is the Caldera low sulphidation epithermal gold project in southern Nevada
I realize management in early years had the foresight and ability to obtain the wonderful oil assets that result in the royalties that are funding the dividends of NWX. But management now is merely accounting for disbursements .ie no other duties. The salaries seem quite high and share remuneration excessive for their efforts.
Paid consulting fees of $378,000 (2019 - $378,000) to a company controlled by Ian Rozier, Director, President and C.E.O. of the Company. b) Paid management fees of $261,000 (2019 - $261,000) to a company controlled by Barbara Dunfield, Director and C.F.O. of the Company.
Share-based payments $ 439,845
THE ABOVE IS FOR 9 MONTHS !!!
Comments?
Another notice of completed acquisition[by management.
Ducks are finally lining up. Hopefully revenue production can start soon.
"The TSX Venture Exchange has accepted for filing documentation relating to a revised and restated merger of ruby assets agreement between the company, Cobadale Ltd. (a wholly owned subsidiary of the company), Fura Services DMCC (a wholly owned subsidiary of the company), New Energy Minerals Ltd., Montepuez Minerals Pty. Ltd., Montepuez Minerals Ltd. and New Energy Minerals LDA, dated as of July 14, 2018, revised and restated on Feb. 5, 2020. Pursuant to the agreement, the company completed the arm's-length acquisition of certain Mozambique assets, as follows: (i) a 70-per-cent interest in ruby mining licence 5030L through the acquisition of 70 per cent of the issued and outstanding shares of Rubies Resources SA; (ii) an 80-per-cent interest in ruby mining concession 8921C through the acquisition of 80 per cent of the issued and outstanding shares of Ibra Moz SA; and (iii) the acquisition for cancellation of a right to earn a 65-per-cent interest in mining concession 8955C under a joint venture agreement. The company paid a cash payment of $1.4-million (Australian) ($1.27-million (Canadian)) to New Energy and paid $28,000 (U.S.) ($39,000 (Canadian)) on behalf of New Energy to the Mozambique government for the capital gains taxes levied in connection with the sale of the New Energy assets. The exchange has been advised that closing occurred on June 23, 2020."/b]
FINALLY CLOSE OF PP.
Must be some kind of record as it was first announced May 15,2019
The TSX Venture Exchange has accepted for filing documentation with respect to the second and final tranche of a non-brokered private placement announced May 15, 2019, June 27, 2019, and Aug. 15, 2019, and Oct. 10, 2019.
Number of shares:28,755,592 shares Purchase price:25 cents per share Number of placees:one placee Insider:Lord of Seven Hills Holdings FZE (Gagan Gupta), 28,755,592"
Another view of todays financial report of FLWR
"THE FLOWR CORPORATION ANNOUNCES FIRST QUARTER 2020 RESULTS AND CHANGES TO ITS BOARD OF DIRECTORS
The Flowr Corp. has released its financial and operational results for the first quarter ended March 31, 2020.
Key financial and operating highlights in the first quarter of 2020:
The Company generated gross revenue of approximately $1 million in the first quarter.
Average price per gram in the first quarter was $6.93, reflecting the Company's positioning in the premium segment. 123 kgs of sales in the quarter was entirely of its flagship strain BC Pink Kush. The Company did not have enough finished product to meet demand in the quarter. Product availability has since substantially improved in the second quarter.
The Company harvested a total of 262kg of BC Pink Kush in the first quarter (with a large portion being harvested late in quarter). Flowr's BC Pink Kush has not been irradiated since January 2019, a testament to the ability to produce high-quality product in a controlled indoor environment.
In February, the Company received Health Canada approval to double capacity at its flagship Kelowna 1 Facility enabling it to become fully operational. The newly licensed area includes the Company's automated packaging equipment which is expected to drive productivity efficiencies going forward.
In March, the Company restructured 25% of its global workforce, saving approximately $6 million annually. In late March, the Company announced that its European subsidiary Holigen received its EU-GMP certification at its facility in Sintra Portugal, putting the Company on a short list of cannabis companies with this license in Europe.
During the quarter, the Company launched a new and revitalized Flowr recreational brand initiative which included a full brand redesign, including new logo, new consumer facing website (flowr.ca) and various digital marketing initiatives.
During the quarter, Irina Hossu joined the Company as Chief Financial Officer to help lead the Company for its next stage of global growth. Irina brings over 15 year of experience in progressively senior finance leadership roles across a variety of global industries including consumer-packaged goods, beverage and alcohol, and financial technology.
Subsequent financial and operational highlights post end of the first quarter
The Company strengthened its financial position with the closing of an aggregate non-brokered $21.5 million secured subordinated convertible debenture unit private placement in two tranches, the first on April 27, 2020 and second on June 3, 2020, which were led by Flowr's Chairman and CEO who committed in excess of $11 million.
Insiders representing approximately 60% of total sharecount have signed a voluntary 1 year lockup, in addition to any lock-ups they have currently entered into, and have not sold a share since the Company's inception.
On May 14, 2020, the Company announced that it has entered into an Equity Line and Profit Sharing Agreement (the "Partnership") with Terrace Global Inc. (TSX-V: TRCE) ("Terrace Global") to fund the development and operations of Holigen, with both parties expecting Terrace Global to fund at least $3 million over the course of the Partnership.
The Company shipped approximately 14,000 clones to Portugal to support the planting of Aljustrel for the 2020 season. Terrace has contributed 30,000 seeds to the Partnership, including 8 different high THC strains. The two companies have successfully planted the seeds and clones together in an area totaling approximately 1 million square feet of the Aljustrel Facility. The Company believes this project to be one of the largest outdoor THC growing operation in Europe to date.
The Company made its first dried flower sales in the Australian market through its Australian subsidiary Holigen Australia, selling Pink Kush and Sensi Star to medical patients.
All 20 grow rooms at the Kelowna 1 Facility are currently propagated with plants and the Company expects the vast majority of 2020 production to be premium dried flower in excess of 20% THC.
Flowr' BC Pink Kush was recently highlighted by the OCS ahead of 4/20 as their bestselling premium pink kush strain. A recent publication by the OCS, cited Flowr branded pre-rolls as the #1 selling brand of pre-rolls on OCS.ca for the period April 1, 2019 to March 31, 2020.
Over 500 kg of BC Pink Kush was harvested in April & May. The Company believes it will see a continued substantial increase in production and sales throughout the remainder of the year given the full operation of the Kelowna 1 Facility and production of primarily high THC strains.
Net revenues in Q2 2020 are expected to be in excess of $2 million with Q3 expected to be substantially greater than Q2. The Company re-iterates its objective of becoming cash flow positive in H2 2020 even with the uncertainty around COVID-19.
MANAGEMENT COMMENTARY
"As previously mentioned, we believe Q1 was the bottom for us in the Canadian recreational market and that we will see a step function change in our operating and financial results going forward. Our flagship purpose-built indoor facility in Canada is finally fully operational and licensed. We are producing only high quality and high THC strains out of it, which we know consumers demand and are willing to pay a premium for. Sales trends and demand for our BC Pink Kush strain remain very encouraging. Our foundational thesis that growing high quality cannabis at scale is difficult and only a few companies are both focused and able to do so is playing out in our view. In Europe, we are extremely excited by our Partnership with Terrace Global after having recently joined a short list of companies with EU-GMP certification. We expect Holigen to contribute more meaningfully to our results beginning in 2021. Our conviction in our strategic direction is further validated by management recently leading yet another round of financing in a very challenging capital markets environment." said Vinay Tolia, Flowr's Chief Executive Officer.
FIRST QUARTER 2020 RESULTS
The following table summarizes the Company's key financial and operational results:
In thousands of Canadian dollars, (except per share and grams metrics)
Three months ended March 31
2020 2019
Grams Harvested -- K1 490,101 279,760
Grams Sold 122,514 211,195
Average Net Realized Price per Gram 6.93 7.70
Gross Revenue 1,012 1,812
Net revenue 776 1,626
Gross profit (loss) before fair value adjustments (1,623) 114
Selling, General and Administrative expense 6,019 3,701
Share-based compensation 857 2,103
Net income/(loss) (12,492) (5,850)
Basic earnings/(loss) per share (0.09) (0.06)
Diluted earnings/(loss) per share (0.09) (0.06)
Cash used in investing activities (4,023) (12,645)
Cash from financing activities 3,576 2,110
100% of sales and of first quarter production were attributed to BC Pink Kush.
Average selling price per gram was $6.93 reflecting the Company's positioning in the premium segment.
Kilograms sold of 123 was down 46% over the fourth quarter as the Company worked through the last of legacy strain mix headwinds.
Gross revenues were approximately $1 million in the quarter. Returns and price concessions were $73k in the quarter. Inventory impairment was $666k in the quarter on legacy strains which the Company is no longer producing.
For a full discussion of Flowr's operational and financial results for the three months ended March 31, 2020, please refer to the Company's first quarter 2020 Management's Discussion & Analysis and Financia"
Hope this means managementhas plans to revive the company
UPPER CANYON MINERALS CORP. ANNOUNCES TERMINATION OF PROPOSED TRANSACTION WITH 10828416 CANADA INC.
Further to the news release dated Dec. 18, 2018, the letter of intent between Upper Canyon Minerals Corp. and 10828416 Canada Inc. has terminated without any future liability.
The company has requested the resumption of trading of its shares on the TSX Venture Exchange, and a further news release regarding the same will be issued in due course.
About Upper Canyon Minerals Corp.
Upper Canyon Minerals was incorporated under the Business Corporations Act (British Columbia) in Canada. The company is in the business of acquisition and exploration of mineral properties in Canada."
I just finished listening to FLWR conference call
Basically management states that the company should be reporting significantly higher revenue streams for the balance of this year. Based on full harvest from Alberta production of high end product. As well they expect Quebec should be served as well in coming quarters.
They mention the European division is ramping up with minimal capital costs outstanding. An expected significant success in sales. But no guestimates mentioned and no questions asked.
The last funding by insiders has solved a liquidity deficiency.
So all in all , a solid revenue stream should produce significant reason for share price growth.
I hope.
[B]FLWR releases quarterly financials today and after close of Market Holds a conference call this afternoon
Already a PR out
THE FLOWR CORPORATION PROVIDES UPDATE ON EUROPEAN OPERATIONS
The Flowr Corp. has provided an operational update on the Aljustrel, Portugal, outdoor medical cannabis site (the partnership), which is jointly operated with Terrace Global Inc. Flowr has also closed on the first tranche of financing of the Aljustrel joint venture in the amount of $765,600 pursuant to the equity line and profit share agreement with Terrace Global.
"We are very pleased by the early results in Aljustrel and look forward to continuing to work closely with Terrace Global to ensure a successful harvest later this year," commented Vinay Tolia, chief executive officer of Flowr. "Our two companies have mobilized very quickly to begin planting in Aljustrel. We are very excited to be moving forward with what we believe to be one of the largest outdoor THC cultivation projects in Europe to date."
Operational update, Portugal
The two companies have planted on approximately one million square feet of land in Aljustrel with a variety of high-THC strains, which are expected to thrive in the outdoor growing environment in Portugal. Flowr shipped approximately 14,000 clones from Kelowna to Portugal, consisting primarily of BC Pink Kush, BC Tahoe OG and BC Louis XII. These cultivars have been successfully grown by Flowr in the outdoor environment of Flowr Forest. Terrace Global contributed approximately 30,000 seeds consisting of eight different strains, including Gorilla Glue No. 4, Zkittles, Gelato, Wedding Cake, KC33, Brains Choice, Spontanica and Mango. Flowr, through its wholly owned subsidiary Holigen Holdings Ltd., received the requisite permits from INFARMED IP for the importation of these genetics in May. The company is in the process of importing harvesting equipment and a custom-built combine harvester from Terrace Global to the Aljustrel site in order to allow for automated harvesting of high-THC biomass. The wide variety of high-THC strains, coupled with efficient machinery, is expected to yield a robust depth of cannabis products suitable for medical markets in Europe.
Closing of first tranche of financing
As part of the partnership and under the terms of the equity line and profit share agreement, Terrace Global has agreed to finance the operations and certain capital expenditures at the company's outdoor facility located in Aljustrel, Portugal, in exchange for common shares and warrants of Flowr. As part of the first tranche announced today, Flowr has issued to Terrace Global 1,472,308 common shares of the company at a price of 52 cents and an equal amount of common share warrants. Each warrant is exercisable into one full common share of the company at an exercise price of 76 cents per common share for a period of 36 months from June 24, 2020. The first tranche remains subject to the final approval of the TSX Venture Exchange. All securities issued under the first tranche are subject to a customary four-month hold period and may not be traded before Oct. 25, 2020. The parties continue to expect Terrace Global to finance at least $3-million under this partnership.
About The Flowr Corp.
Flowr is a Toronto-headquartered cannabis company with operations in Canada, Europe and Australia. Its Canadian operating campus, located in Kelowna, B.C., includes a purpose-built, GMP (good manufacturing practices)-designed indoor cultivation facility, an outdoor and greenhouse cultivation site, and a state-of-the-art research and development facility. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a licence for cannabis cultivation in Portugal and operates GMP-licensed facilities in both Portugal and Australia.
I posted this at 11 am today and that PR caused the share price to be under pressure. Don't know why my post was removed.
"Not surprised the Exchange asked management if there was any
unannounced news that has caused the share price to move with high volume.
Of course management said no. But that doesn't mean there could not be further deals signed that were as positive as the graduation sale that would justify further buyin
I posted this at 11 am today and that PR caused the share price to be under pressure. Don't know why my post was removed.
"Not surprised the Exchange asked management if there was any
unannounced news that has caused the share price to move with high volume.
Of course management said no. But that doesn't mean there could not be further deals signed that were as positive as the graduation sale that would justify further buyin
[b(
Update on drilling As always, wait for the assays for the true value of the property!
""Pistol Bay" or the "Company") is very pleased to provide an update on the recently announced 1,500 m diamond drill program by Infinite Ore Corp. (TSX-V:ILI) currently underway at the Fredart Property in Red Lake, Ontario. The Fredart Property is 100% owned by Pistol Bay. Pursuant to an option agreement entered into between Infinite Ore Corp. and Pistol Bay, dated February 03, 2020, Infinite Ore Corp. has an option to earn up to an 80% undivided interest in the Pistol Bay Property.
Infinite Ore Corp. has completed 3 of 5 holes and is ahead of schedule and underbudget as of the date of this press release. Drilling to date has encountered massive to stringer sulphide mineralization in each drill hole which appears to be associated with banded iron formation horizons. The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Mike England, President and CEO of Infinite Ore Corp. commented, "We are very pleased with the pace of drilling at Fredart, owing to the exceptional infrastructure and technical team we have in place at the property. We will be sending the core to the lab for assaying and will update the market with results as soon as possible".
Dr. Michel Bolly, PhD, P.Geo, the qualified person as defined by National Instrument 43-101, has designed and is managing the current drill program on behalf of Infinite Ore Corp, and is responsible for approving the technical contents of this press release]
Update on drilling of potential gold and mineral property in Fredart property.As always wait for the assays to determine true value.
" ("ILI" or the "Company") (TSXV:ILI)(OTCQB:ARXRF) is very pleased to provide an update on its recently announced 1,500 m diamond drill program currently underway at the Fredart property in Red Lake, Ontario. The Company has completed 3 of 5 holes ahead of schedule and under budget as of the date of this press release. Drilling to date has encountered massive to stringer sulphide mineralization in each drill hole which appears to be associated with banded iron formation horizons. The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Mike England President and CEO of Infinite Ore commented, "We are very pleased with the pace of drilling at Fredart, owing to the exceptional infrastructure and technical team we have in place at the property. We will be sending the core to the lab for assaying and will update the market with results as soon as possible."
Michel Bolly, PhD, P.Geo. is the qualified person as defined by National Instrument 43-101 has designed and is managing the current drill program on behalf of Infinite Ore and is responsible for approving the technical contents of this press release.
SIGNIFICANT ANNOUNCEMENT OF CLOSING DATE OF REVENUE PRODUCING ACQUISITION AND CLOSING OF FIRST TRANCHE OF UNDERWRITING PP.
Unnamed target will add significant ongoing revenue stream!
("Kontrol" or "Company") is pleased to announce that it has completed the first tranche closing of its previously announced (see press release dated May 19th, 2020) Non-Brokered Private Placement for Proceeds of $1.25 Million and has set July 6th, 2020 as the closing date for the previously announced acquisition of a building solutions company (the "Acquisition Target") (see press release dated May 19th, 2020).
"We look forward to completing this strategic acquisition since it is expected to grow our recurring revenues, add a number of new large cap real-estate owners and asset managers to our existing blue-chip customer base, and add 100 new buildings to Kontrol's customer base," said Paul Ghezzi, CEO of Kontrol Energy. "We expect more buildings to equate to increased operating leverage to scale recurring revenues through SaaS, IoT, Cloud and building automation. We have good visibility into closing the balance of our financing, and look forward to building upon our successful history of purchasing growing, accretive, and profitable companies"
Based on its July 31, 2019 fiscal year unaudited financial statements, The Acquisition Target generated $3.7 Million of revenue and $843,000 of Net Income before tax.
Approximately 40% of the Acquisition Target's revenues are expected to be annually recurring and the Acquisition Target has developed a scalable platform. In addition to operating synergies, Kontrol anticipates a significant opportunity for cross-sales through the merger of customers.
With the completion of the first tranche closing and existing cash on hand the Company has sufficient funding to complete the purchase of the Acquisition Target. The Company anticipates a second tranche closing of the Non-Brokered Private Placement by June 30, 2020.
The closing of the acquisition is subject to several conditions, including the provision of certain confirmatory due diligence information to Kontrol. For commercial reasons, the identity of the Acquisition Target will remain confidential until the completion of the acquisition.]
Further progress by management in completion of important acquisitions
" Fura Gems Inc. (“Fura” or the “Company”) (TSXV: FURA, OTC: FUGMF and FRA: BJ43) is pleased to announce that it has successfully completed the Company’s previously announced acquisition (the “Acquisition”) of interests in two ruby licences/concessions in Mozambique as follows: (i) a 70% interest in ruby mining licence 5030L through the acquisition of 70% of the issued and outstanding shares of Rubies Resources SA, and (ii) an 80% interest in ruby mining concession 8921C through the acquisition of 80% of the issued and outstanding shares of Ibra Moz SA (each a “Licence”, and together the “Licences”). Fura also acquired the Vendor’s right to earn a 65% interest in mining concession 8955C under a joint venture agreement (together with the Licences, the “NewEnergyAssets”). Please see the Company’s press releases dated November 29, 2018 and February 11, 2020 for further details.
Pursuant to the merger of ruby assets agreement dated July 14, 2018, as revised and restated on February 7, 2020 (the “MRAA”), in consideration for the purchase of the New Energy Assets, Fura made a total cash payment of A$1,400,000 (C$1.27 million) to New Energy Minerals Ltd (the “Vendor”) and paid US$28,000 (C$39,000) on behalf of the Vendor to the Mozambique government for the capital gains taxes levied in connection with the sale of the New Energy Assets. The Acquisition was an arm’s length transaction for the purposes of the policies of the TSX Venture Exchange (“TSXV”). Fura did not pay any finder’s fees in connection with the Acquisition."
Obvious pumping of the company. Might be deserved but be careful
" [video] (OTC: IPNFF) gains another 37% on massive volume (IPNFF is now UP +500% since 3/10 feature)
Reply-To: Breaking News - Wall Street Reporter <jm@wallstreetreporter.com>
?
June 23, 2020
BREAKING NEWS: ImagineAR (OTC: IPNFF) (CE: IP) stock exploded today - up another +37% today on record volume: 5,349,000 shares traded in US. (plus: 12.5 mil shares in Canada/CSE).
IPNFF is now increased +500% since CEO Alen Paul Silverrstieen 3/10 CEO Interview & up +100% just since 6/10 NEXT SUPER STOCK livestream.
US trading volume has EXPLODED 100X since the stock debuted at Wall Street Reporter's events. Today was the biggest volume day for IPNFF in US - ever. This indicates, IPNFF is starting to gain traction with mainstream investors.
WHY is the market so enthusiastic about IPNFF? Just check out the video below with music star Flo Rida, which demonstrates IPNFF's capabilities...
Wall Street Reporter's NEXT SUPER STOCK livestream conference is dedicated to bringing you stocks with +10X upside potential.
Could IPNFF be our next "TEN BAGGER" ? Watch this video and decide for yourself"
Another ZOOM???
[bCompletion of PP announced. Nice to see that aside from
"insider" participants close to half the shares where bought by outside investors.
"The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced June 17, 2020.
Number of shares: 3,069,990 shares
Purchase price: five cents per share
Number of placees: seven placees
Insiders: Greg Wong, 980,000; Ash Wellington Investments Ltd. (James Cohen), 200,000; CEYX Properties Ltd. (Anthony Cohen), 600,000
]
PP to provide monies for the development of revenue streams
"MPX INTERNATIONAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS OF UP TO C$5 MILLION
MPX International Corp. intends to further operationalize some of its revenue-generating assets and is raising a minimum of $4.0-million and a maximum of $5.0-million in a non-brokered private placement offering of a minimum of 3,000 units and a maximum of 3,700 units at a price of $1,000 (U.S.) per unit.
"This fund raise will enable the final stage of development of our processing operations in Switzerland and the launch of a number of new CBD products into that market in the coming months, including oils, smokables and pouches and to advance other cannabis projects in Canada and globally. The revenue from these capital expenditures will have the potential to create a significant impact on our near-term revenue generation," said W. Scott Boyes, chairman, president and chief executive officer of MPX International. "At the same time, we have instigated cost saving measures across the corporate group in order to accelerate the path to sustainable long-term profitability."
Each unit consists of one 12 per cent secured convertible debenture of the corporation in the principal amount of $1,000 (U.S.) and 7,000 common share purchase warrants. The debentures will have a maturity date of 24 months from the date of issuance, subject to certain conversion privileges as set forth in a debenture indenture with AST Trust Company (Canada). Each debenture will rank pari passu in right of payment of principal and interest with all other debentures issued under the offering.
The corporation intends to use the proceeds from the offering to finance product and facility development in Switzerland and retail expansion in Canada as well as for working capital and other general corporate purposes.
The closing of the offering is subject to the receipt of any necessary regulatory approvals, including, to the extent necessary, the approval of the Canadian Securities Exchange and may occur in multiple tranches.
Each debenture shall bear interest at a rate of 12 per cent per annum from the date of issue, payable quarterly in arrears on the last day of March, June, September and December in each year, commencing Dec. 31, 2020. The amount of interest that becomes payable on Dec. 31, 2020, will represent accrued interest for the period from the initial closing date to Dec. 31, 2020. All accrued but unpaid interest as of each coupon date shall be payable by the corporation in cash and shall accrue interest at a rate of 12 per cent per annum.
The principal amount shall be convertible for no additional consideration into common shares of the corporation at the option of the holder at any time prior to the earlier of: (i) 6 p.m. Eastern Standard Time on the maturity date; or (ii) the business day immediately preceding the date specified by MPX International for redemption of the debentures at a conversion price equal to 12 cents per common share.
Each warrant entitles the holder thereof to purchase one common share at an exercise price of 20 cents for a period of 24 months from the closing date. The corporation and AST will enter into a warrant indenture pursuant to which the warrants will be created and issued.
It is a condition of the offering that the corporation execute and deliver a guarantee and certain security documents in favour of AST, as collateral agent, as security for the payment and performance of the corporation's obligations under the debenture indenture.
The corporation may pay a cash placement fee equal to 5 per cent of the aggregate gross proceeds paid by each purchaser of units that are invested in the offering, excluding the aggregate number of units purchased by investors that participated in the corporation's prior equity raise which closed in March, 2019.
In addition, the corporation may issue that number of common share purchase warrants equal to 5 per cent of the aggregate number of common shares underlying the debentures if converted as of the closing date and the warrants issued to purchasers of the units excluding the aggregate number units purchased by investors that participated in the corporation's equity raise that closed in March, 2019. The compensation warrants shall be exercisable at the exercise price for a period of two years from the applicable closing date of the offering.
The securities issued pursuant to the offering including any common shares and other underlying securities issued on conversion of the securities will be subject to a statutory hold period in Canada of four months and one day following the applicable closing date of the offering in accordance with applicable securities laws. Additional resale restriction may be applicable under the laws of other jurisdictions.
About MPX International Corp.
MPX International is a multinational diversified cannabis company focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
I AM NOT SURE WHAT IS THE NEXUS OF THIS DEAL. IF THERE IS A POSSIBLE DEAL TO SELL THE PROJECT, IT MAKES SENSE FOR MED TO COMBINE WITH fORTUNA. BUT IF NO DEAL ACTUALLY EXISTS THEN MED COULD HAVE TO MAKE A DEAL UNDER STRESS OR LOSE THEIR HOLDINGS WITH NO PAYMENTCORRECT ME IF I AM WRONG
" Medgold Resources Corp. (TSXV:MED)|(FRA:1XD) is pleased to announce that it has entered into a non-binding Letter of Intent (the "Letter") with Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI) ("Fortuna") to acquire Fortuna's 51% interest in the Tlamino Project located in Serbia (the "Project").
Under the terms of the Letter, Medgold has secured an exclusive option (the "Option") to purchase Fortuna's 51% interest in the Project for a cash consideration of US$ 3.468 million. The Option is valid for three years and is exercisable upon the earlier of (i) the expiry of the term of the Option, (ii) the date of completion of a sale by Medgold of a 100% interest in the Project to a third party, or (iii) the date of completion of a merger between Medgold and a third party.
Fortuna will also be entitled to deferred monthly option fees (the "Monthly Fees") of US$23,000 per month commencing from the date of the Definitive Agreement (as defined below) to the date of exercise of the Option, payable upon exercise of the Option. In the event that the Option is exercised within 12 months of the date of the Definitive Agreement (as defined below), the Monthly Fees will be fixed at US$276,000. Should Medgold not complete a sale of the Project or corporate merger within the term of the Option, Medgold will transfer its undivided 49% interest in the Project to Fortuna for no consideration, such that Fortuna will then hold an undivided 100% interest in the Project.
If Medgold completes a sale of the Project or corporate merger as described above and receives consideration attributable to the Project in excess of US$ 13 per ounce of the Project's Inferred Mineral Resource (see The Tlamino Project below), Medgold will pay to Fortuna an asset sale bonus equal to 10.2% of any amount in excess of US$13 per ounce, less all of Medgold's costs related to the sale or corporate merger.
The Option is subject to the execution of a definitive agreement (the "Definitive Agreement") to be entered into between Medgold and Fortuna within 60 days of the effective date of the Letter, and will contain terms and conditions customary for transactions of this type. The Option is subject to approval from the TSX Venture Exchange, and the boards of directors of both companies. Medgold and Fortuna have a director in common.
Pursuant to the terms of the option agreement between Medgold and Fortuna dated March 6, 2017, and as later amended, Fortuna has earned a 51% interest in the Project by spending US$ 3 million in exploration expenditures, as announced on January 30, 2020.
The Tlamino Project
An Inferred Mineral Resource containing approximately 680,000 oz AuEq in 7.1Mt grading 3.0 g/t AuEq at cut-off grade of 0.7 g/t AuEq was announced in regard to the Barje Prospect on January 30, 2020. As part of this work, bulk rougher flotation tests were performed on two composite samples which, formed of 50.39 kg of core from the Company's 2018 drilling program at the Barje prospect, yielded head grades of 2.04 g/t Au and 10.99 g/t Au and gold recoveries to concentrate of 88.2% and 90.5%, respectively. The same composite samples yielded silver head grades of 15.1 g/t Ag and 107.2 g/t Ag, and silver recoveries to concentrate of 88.2% and 96.4% respectively.
The Tlamino Project covers an area of approximately 200km2 in southern Serbia and is held by Medgold under two exploration licenses. Outcropping mineralization was first observed at the Barje Prospect by Yugoslav State agencies in the 1950s and 1960s when a short adit was opened but no drilling was carried out. The prospect was then held by private and public companies between approximately 2005 and 2012 during which time limited drilling failed to intersect significant mineralization.
Medgold conducted mapping, surface sampling and geophysics (IP) followed by diamond drilling at the Barje Prospect in 2018 and 2019, all fully funded by Fortuna, which successfully intersected gold mineralization in a shallowly inclined body of hydrothermal breccia below altered schist (as announced on March 21, 2019). The Inferred Mineral Resource at the Barje Prospect extends from surface to a depth of approximately 110m as a shallowly inclined zone over an area of approximately 600 m x 350 m. The true thickness of mineralization generally ranges between 10 m to 40 m.
Qualified Person and Data Verification
Mr. Thomas Sant, FGS, CGeol, EurGeol, Consultant Exploration Manager for Medgold and Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release. Mr. Sant is not independent of the Company."
This completion of a PP is a necessary additional funding for possible drilling .
I have respect for the CEO Mr. A Cohen but hope other investors have participated in the funding. Just to show outside interest in the company.
"(“Plato” or the “Corporation”) is pleased to announce that further to its news release dated May 21, 2020, it has increased and completed a non-brokered private placement (the “Offering”) of 3,069,990 common shares (“Shares”) at a price of CAN$0.05 per Share for gross proceeds of $153,500.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.
The Corporation intends to use the net proceeds from the Offering on exploration to advance the Good Hope Niobium Property, the Pic River PGM Project, and for general working capital purposes.
The participation in the Offering by Greg Wong, James Cohen, and Anthony Cohen are “related party transactions” as such terms are defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), requiring the Corporation, in the absence of exemptions, to obtain a formal valuation for and minority shareholder approval of the “related party transactions”. The Corporation is relying on an exemption from the requirement to obtain formal valuation and minority shareholder approval as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Corporation, as determined in accordance with MI 61-101.
Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities."
Further move to assure control of the Fredart property as drilling commences
" "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that the option to purchase the Fredart property located in the Red Lake mining district has now closed. The NI 43-101 prepared on the Fredart property by the Company can be seen at www.infiniteore.com.
About Infinite Ore Corp.
Infinite Ore Corp. is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. Our current focus is on properties with the potential for VMS mineralization in the Confederation Mineral Belt near Red Lake, Ontario, and the Jackpot Lithium property located near Nipigon, Ontario. Infinite also continues to evaluate suitable prospects that fit the mandate of the company. Please visit our website located at www.infiniteore.com."
Further info on loan
The TSX Venture Exchange has accepted for filing the company's proposal to issue six million bonus warrants to the following insider in consideration of acting as a guarantor for two loan facilities totalling $300,000. Each warrant is exercisable into one common share at five cents, with two million warrants having a one-year term and four million warrants having a three-year term.
For additional information, please see the company's news release dated June 1, 2020.
George David Richardson:six million warrants
Reality time for IP. M&A shows the financial results for Feb 29,2020 Loss of 2cents per share slightly higher than Feb 28, 2019.
The company MUST achieve a positive revenue stream from sales and/or successful PP to survive. Plain and simple.
They have some minor success so far. It is hard to translate the sales they made to the possible profit gained as we do not get details of revenue generated from each project.
So basically, investors must evaluate their financial involvement based on “hope”, economic personal risk and “prayer”. Just like Apple, IBM etc. original investors did. As well as investments that bombed.
The company listed these risks as a necessary SEDAR requirement. Read them and decide what you want to do or not personally I am a bar for punishment and am holding a significant position What the heck!!!
‘RISKS AND UNCERTAINTIES The Company's financial condition, results of operations and business are subject to risks. The following are identified as the main risk factors: Financing The Company is reliant upon financing in order to continue its operations because it does not derive any income from its assets. There is no guarantee that future sources of funding will be available to the Company. If the Company is not able to raise additional funding in the future, it will be unable to carry out its operations. Key Personnel The future of the Company is dependent on the management of the Company. The departure of any of operations or management personnel or their inability to continue being functional could have an adverse impact on the Company’s growth, business, financial position, and operating results. Competition The Company will compete with many larger companies and newcomers to the industry that will have greater financial and technical resources than the Company for the development of its applications as well as the recruitment and retention of qualified consultants and employees”
Reality time for IP. M&A shows the financial results for Feb 29,2020 Loss of 2cents per share slightly higher than Feb 28,2019.
The company MUST achieve a positive revenue stream from sales and/or successful PP to survive. Plain and simple.
They have some minor success so far. It is hard to translate the sales they made to the possible profit gained as we do not get details of revenue generated from each project.
So basically, investors must evaluate their financial involvement based on “hope”, economic personal risk and “prayer”. Just like Apple, IBM etc. original investors did. As well as investments that bombed.
The company listed these risks as a necessary SEDAR requirement. Read them and decide what you want to do or not Personally I am a bear for punishment and am holding a significant position What the heck!!!
RISKS AND UNCERTAINTIES The Company's financial condition, results of operations and business are subject to risks.
The following are identified as the main risk factors: Financing The Company is reliant upon financing in order to continue its operations because it does not derive any income from its assets. There is no guarantee that future sources of funding will be available to the Company. If the Company is not able to raise additional funding in the future, it will be unable to carry out its operations. Key Personnel The future of the Company is dependent on the management of the Company. The departure of any of operations or management personnel or their inability to continue being functional could have an adverse impact on the Company’s growth, business, financial position, and operating results. Competition The Company will compete with many larger companies and newcomers to the industry that will have greater financial and technical resources than the Company for the development of its applications as well as the recruitment and retention of qualified consultants and employees
A great use of IP technology. Wonder what the revenue the company received.
"Broward Education Foundation teamed up with ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) to create #2020gradsecret - an immersive augmented reality (AR) mobile experience for students graduating from Broward County Public Schools. Using the free ImagineAR app, grads are recording themselves in their homes accepting diplomas from Broward Schools Superintendent Robert Runcie, joining international music superstar Flo Rida for a congratulatory message or dancing with either one of them-and instantly sharing the videos on social media. The interactive AR videos make it appear that Superintendent Runcie and Flo Rida are inside the graduate's actual home. This AR experience has never been done before and is truly groundbreaking.
"This futuristic ImagineAR augmented reality technology is a trip," said Flo Rida. "I'm happy to help these graduates define a new way of celebrating and social interaction as they move on to the next chapter in their young lives."
"In these unprecedented times of quarantining and social distancing, Broward Education Foundation wanted to make the Class of 2020's graduation a very special and memorable experience," said Shea Ciriago, executive director of Broward Education Foundation. "Keeping the #2020gradsecret launch under wraps for a month and a half has been a challenge because our grads are making history!"
An AR industry leader, ImagineAR's advanced technology and free mobile app allows students to move, talk and interact with AR images of Superintendent Runcie and Flo Rida. The AR experiences are geo-targeted only to Broward County and grads choose from four customizable interactive experiences.
"ImagineAR's mobile app allows graduates to view and record their own diploma presentation using AR. It literally looks like the Superintendent or Flo Rida are right next to these graduates, whether they're in their living rooms, back yards or anywhere," said Alen Paul Silverrstieen, CEO and president of ImagineAR. "We were thrilled to partner with Broward Education Foundation to bring this immersive technology to life- for the first-time ever and- for Broward's graduating seniors."
In addition to the custom immersive experiences, using the ImagineAR app, grads can point their phones at the #2020gradsecret social media sign to launch a very special video message from NBA legend and longtime Miami Heat superstar Dwyane Wade. Each of the more than 18,000 graduating seniors received a special Class of 2020 sign with their cap and gown packages, courtesy of Broward Education Foundation's legacy partner and longtime supporter BrightStar Credit Union.
Dustin Jacobs, VP of marketing for BrightStar Credit Union said "Graduating from high school is an important right-of-passage. It's very exciting to help Broward's seniors experience it a whole new way."
Metro Group Miami CEO Bruno Dede also has a long-standing relationship with Broward Education Foundation and stated "When the Foundation placed an order for graduation banners, we started brainstorming about social media signs and a lightbulb went off. I immediately connected them with ImagineAR, Flo Rida and Dwyane Wade."
"Bruno set the wheels in motion and we ran with it," said Pejay Ryan, director of marketing for Broward Education Foundation. "Since something like this has never, ever been done before, we created our own AR launch roadmap. We designed social media signs, QR codes, 2020gradsecret.com website, instructions, and crafted scripts and copy. With the help of the great team at BECON, we directed and shot the green screen footage of Mr. Runcie and Flo Rida for the AR content available only in Broward County with the ImagineAR app."
Broward County Public Schools graduates are encouraged to post their videos on social media tagging their school and #2020GradSecret. One student in each of the four AR experience categories will be awarded $200 from Broward Education Foundation in a "who did it best" contest.
"When Broward Education Foundation proposed this idea that would allow students to video themselves receiving their diploma and more, in their own homes, it occurred to me how truly great things are often born from challenging situations," said Broward Schools Superintendent Robert Runcie. "This technology is mind-blowing. Thank you to Broward Education Foundation, ImagineAR, BrightStar Credit Union, MetroGroup Miami and Think First Consulting Group for making the #2020gradsecret a reality."
About Broward Education Foundation:
The nonprofit Broward Education Foundation aligns with Broward County Public Schools by providing grants for teachers who develop innovative curriculum that increases student outcomes; vitally needed school supplies for students and teachers in Title I schools; scholarships for qualified high school seniors; and support for programs and initiatives like Debate, Scholastic Chess, TurnAround Arts, STEM and more. Each year, Broward Education Foundation contributes more than $3 million to Broward County schools, serving as the catalyst for educational excellence.
In 2018, and responding to the Stoneman Douglas High School tragedy, Broward Education Foundation initiated a GoFundMe, established the official Stoneman Douglas Victims' Fund and raised $10.5M for victims' families, survivors and those impacted. Broward Education Foundation is proven agile, adept and responsive to shifting needs in education and our community.
About ImagineAR:
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies."
A great use of IP technology. Wonder what the revenue the company received.
"Broward Education Foundation teamed up with ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) to create #2020gradsecret - an immersive augmented reality (AR) mobile experience for students graduating from Broward County Public Schools. Using the free ImagineAR app, grads are recording themselves in their homes accepting diplomas from Broward Schools Superintendent Robert Runcie, joining international music superstar Flo Rida for a congratulatory message or dancing with either one of them-and instantly sharing the videos on social media. The interactive AR videos make it appear that Superintendent Runcie and Flo Rida are inside the graduate's actual home. This AR experience has never been done before and is truly groundbreaking.
"This futuristic ImagineAR augmented reality technology is a trip," said Flo Rida. "I'm happy to help these graduates define a new way of celebrating and social interaction as they move on to the next chapter in their young lives."
"In these unprecedented times of quarantining and social distancing, Broward Education Foundation wanted to make the Class of 2020's graduation a very special and memorable experience," said Shea Ciriago, executive director of Broward Education Foundation. "Keeping the #2020gradsecret launch under wraps for a month and a half has been a challenge because our grads are making history!"
An AR industry leader, ImagineAR's advanced technology and free mobile app allows students to move, talk and interact with AR images of Superintendent Runcie and Flo Rida. The AR experiences are geo-targeted only to Broward County and grads choose from four customizable interactive experiences.
"ImagineAR's mobile app allows graduates to view and record their own diploma presentation using AR. It literally looks like the Superintendent or Flo Rida are right next to these graduates, whether they're in their living rooms, back yards or anywhere," said Alen Paul Silverrstieen, CEO and president of ImagineAR. "We were thrilled to partner with Broward Education Foundation to bring this immersive technology to life- for the first-time ever and- for Broward's graduating seniors."
In addition to the custom immersive experiences, using the ImagineAR app, grads can point their phones at the #2020gradsecret social media sign to launch a very special video message from NBA legend and longtime Miami Heat superstar Dwyane Wade. Each of the more than 18,000 graduating seniors received a special Class of 2020 sign with their cap and gown packages, courtesy of Broward Education Foundation's legacy partner and longtime supporter BrightStar Credit Union.
Dustin Jacobs, VP of marketing for BrightStar Credit Union said "Graduating from high school is an important right-of-passage. It's very exciting to help Broward's seniors experience it a whole new way."
Metro Group Miami CEO Bruno Dede also has a long-standing relationship with Broward Education Foundation and stated "When the Foundation placed an order for graduation banners, we started brainstorming about social media signs and a lightbulb went off. I immediately connected them with ImagineAR, Flo Rida and Dwyane Wade."
"Bruno set the wheels in motion and we ran with it," said Pejay Ryan, director of marketing for Broward Education Foundation. "Since something like this has never, ever been done before, we created our own AR launch roadmap. We designed social media signs, QR codes, 2020gradsecret.com website, instructions, and crafted scripts and copy. With the help of the great team at BECON, we directed and shot the green screen footage of Mr. Runcie and Flo Rida for the AR content available only in Broward County with the ImagineAR app."
Broward County Public Schools graduates are encouraged to post their videos on social media tagging their school and #2020GradSecret. One student in each of the four AR experience categories will be awarded $200 from Broward Education Foundation in a "who did it best" contest.
"When Broward Education Foundation proposed this idea that would allow students to video themselves receiving their diploma and more, in their own homes, it occurred to me how truly great things are often born from challenging situations," said Broward Schools Superintendent Robert Runcie. "This technology is mind-blowing. Thank you to Broward Education Foundation, ImagineAR, BrightStar Credit Union, MetroGroup Miami and Think First Consulting Group for making the #2020gradsecret a reality."
About Broward Education Foundation:
The nonprofit Broward Education Foundation aligns with Broward County Public Schools by providing grants for teachers who develop innovative curriculum that increases student outcomes; vitally needed school supplies for students and teachers in Title I schools; scholarships for qualified high school seniors; and support for programs and initiatives like Debate, Scholastic Chess, TurnAround Arts, STEM and more. Each year, Broward Education Foundation contributes more than $3 million to Broward County schools, serving as the catalyst for educational excellence.
In 2018, and responding to the Stoneman Douglas High School tragedy, Broward Education Foundation initiated a GoFundMe, established the official Stoneman Douglas Victims' Fund and raised $10.5M for victims' families, survivors and those impacted. Broward Education Foundation is proven agile, adept and responsive to shifting needs in education and our community.
About ImagineAR:
ImagineAR Inc. (CSE: IP) (OTC: IPNFF) is an augmented reality (AR) platform, ImagineAR.com, that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage videos, information, advertisements, coupons, 3D holograms and any interactive content all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The AR Enterprise platform supports both IOS and Android mobile devices and upcoming wearable technologies."
From their M&A Plans for the future "Mint has a fully certified global payments platform that is the foundation to build a scalable and globally competitive
business. The Corporation is at an inflection point to add new customers and products and offer value added
services to our customers in a seamless and frictionless manner. Mint is continuing to pursue this strategy.
The transition of Mint, from a program manager on the front-end of card issuing business relying on third parties to
do the processing, to being a full service card issuing, processing and acquiring platform is a game changer in
terms of the scale and scope of offerings that Mint can bring to the market place. Following the divestiture of the
payroll card business, Mint will shift its strategic focus from the payroll card product focused on unbanked migrant
workers to launching a digital banking platform that can be offered both as a white label product offering for other
banks and or financial institutions and as a direct service to personal and small business clients. This digital banking
platform in conjunction with our card management platform, payment gateway and merchant management
platforms will round out Mint’s technology across the full spectrum to service banks, small business clients and
personal clients. The initial focus will be on UAE market and then to expand regionally and into North America.
Given the range of technology now available and being developed Mint has the flexibility to develop and focus on
the unique needs of each market."
Finally let the GAMES begin ! Drilling is the true proving of the value of the the company's holdings.So lets all cross EVERYTHING in hopes of success.PST has a minority position in these ILI properties.
" Infinite Ore Corp. ("ILI" or the "Company") (TSX:V:ILI) (OTCQB:ARXRF) is pleased to announce its inaugural 1,250 metre diamond drill program on the Fredart property in the Red Lake Mining District. The phase one diamond drill program will commence within a week and aims to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model. The ILI Fredart property is located approx. 40 km from the eastern boundary of Great Bear Resource Ltd.'s Dixie project and host an historical resource of (non-NI 43-101 compliant *) mineral resource of 386,200 tonnes grading 1.56 per cent copper (% Cu) and 33.6 grams per tonne silver (g/t Ag) (completed by Phelps-Dodge Mining Co. in 1971 and included within a prospectus for Consolidated Copper Lode Developments Inc., Jan. 7, 1977, submitted to the Ontario Securities Commission). * This historical resource estimate does not comply with the standards of NI 43-101 and has not been reviewed by a qualified person, nor verified. Infinite Ore is not treating the historical resource estimate as a current mineral resource or mineral reserve.
Figure 1: Location of ILI's Property Holdings in the Red Lake District
Image: https://www.accesswire.com/users/newswire/images/593554/94cba4c5-520b-421d-9bcf-f6c2b68fbc5e.png
The 1,250-metre drill program will focus on areas of known VMS mineralization and aims to expand upon the historical resource along strike and to depth. Initial drill targets are at a maximum depth of 200 vertical metres metres below surface. Historical drilling on the Copperlode "A" prospect identified several lenses of mineralization within diamond drill holes, which previous operators interpreted as a single VMS horizon which was subject to several folding events. Infinite's objectives for this program are three-fold: confirm the historical grades and widths; expand the known mineralization to depth and along strike; and test for gold mineralization which was historically not often analyzed.
Being well located in the Red Lake Mining district, the Fredart property benefits from excellent infrastructure and a highly skilled work force, as well as several nearby mills and active mining operations. ILI has contracted Chibougamau Diamond Drilling, which has significant experience in drilling in Red Lake, for this drill campaign.
Mr. Kelly Malcolm, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and reviewed the recent NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release.
Figure 2: Geology of the Fredart Property with Known Mineral Occurrences. Drilling will be focused on the Copperlode "A" Prospect and surrounding areas.
Image: https://www.accesswire.com/users/newswire/images/593554/9d350ea3-4420-4e86-bdea-d81e9410b98d.png
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. The company's current focus is on properties with the potential for VMS mineralization in the Confederation mineral belt near Red Lake, Ont., as well as the Jackpot lithium property located near Nipigon, Ont.
Finally let the GAMES begin ! Drilling is the true proving of the value of the the company's holdings.So lets all cross EVERYTHING in hopes of success.
" Infinite Ore Corp. ("ILI" or the "Company") (TSX:V:ILI) (OTCQB:ARXRF) is pleased to announce its inaugural 1,250 metre diamond drill program on the Fredart property in the Red Lake Mining District. The phase one diamond drill program will commence within a week and aims to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model. The ILI Fredart property is located approx. 40 km from the eastern boundary of Great Bear Resource Ltd.'s Dixie project and host an historical resource of (non-NI 43-101 compliant *) mineral resource of 386,200 tonnes grading 1.56 per cent copper (% Cu) and 33.6 grams per tonne silver (g/t Ag) (completed by Phelps-Dodge Mining Co. in 1971 and included within a prospectus for Consolidated Copper Lode Developments Inc., Jan. 7, 1977, submitted to the Ontario Securities Commission). * This historical resource estimate does not comply with the standards of NI 43-101 and has not been reviewed by a qualified person, nor verified. Infinite Ore is not treating the historical resource estimate as a current mineral resource or mineral reserve.
Figure 1: Location of ILI's Property Holdings in the Red Lake District
Image: https://www.accesswire.com/users/newswire/images/593554/94cba4c5-520b-421d-9bcf-f6c2b68fbc5e.png
The 1,250-metre drill program will focus on areas of known VMS mineralization and aims to expand upon the historical resource along strike and to depth. Initial drill targets are at a maximum depth of 200 vertical metres metres below surface. Historical drilling on the Copperlode "A" prospect identified several lenses of mineralization within diamond drill holes, which previous operators interpreted as a single VMS horizon which was subject to several folding events. Infinite's objectives for this program are three-fold: confirm the historical grades and widths; expand the known mineralization to depth and along strike; and test for gold mineralization which was historically not often analyzed.
Being well located in the Red Lake Mining district, the Fredart property benefits from excellent infrastructure and a highly skilled work force, as well as several nearby mills and active mining operations. ILI has contracted Chibougamau Diamond Drilling, which has significant experience in drilling in Red Lake, for this drill campaign.
Mr. Kelly Malcolm, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and reviewed the recent NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release.
Figure 2: Geology of the Fredart Property with Known Mineral Occurrences. Drilling will be focused on the Copperlode "A" Prospect and surrounding areas.
Image: https://www.accesswire.com/users/newswire/images/593554/9d350ea3-4420-4e86-bdea-d81e9410b98d.png
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. The company's current focus is on properties with the potential for VMS mineralization in the Confederation mineral belt near Red Lake, Ont., as well as the Jackpot lithium property located near Nipigon, Ont.
"
An excellent update from management re their emerald project.
Lengthy and informative. Too bad the auction had to be postponed but understandable.
" Fura Gems Inc. (“Fura” or the “Company”) (TSXV: FURA, OTC: FUGMF and FRA: BJ43), a gemstone mining and marketing company with emerald, ruby and sapphires assets in Colombia, Mozambique and Australia, respectively, is pleased to provide an update on its 76%-owned Coscuez emerald mine in Colombia.
Key Highlights:
Due to the travel restrictions and current market conditions resulting from COVID-19, the inaugural Colombian emerald auction that was scheduled in Antwerp, Belgium in the month of May 2020 was cancelled. We continue to monitor market conditions to determine the appropriate time to hold the auction.
Since the acquisition in January 2018, the Coscuez mine, under the majority-ownership and management of Fura, is being transitioned from an artisanal mine to a fully mechanised operation. As of December 2019, the 1.5km main LAPAZ adit had been expanded from 2.65 sqm to 5.28 sqm.
A maiden Inferred Mineral Resource in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) was announced in 2019 (effective date of report: January 23, 2019).
Highlights include:
a. 3 million tonnes of Inferred Mineral Resources;
b. Grade of 2.0 carats per tonne;
c. 6 million carats contained;
d. Conceptual life of mine for Coscuez of 30 years used for the Inferred Mineral Resource estimate;
e. Conservative case price of USD$200/carat; and
f. Estimate prepared and classified by WGM, an independent group of consulting geologists and engineers based in Toronto, Canada.
Following the Inferred Mineral Resource announcement, a mine mechanisation program commenced by Fura in August 2019 and was completed in January 2020. The new mining mechanised fleet includes a total of 12 mini-dumpers with four & two tonne (“t”) capacities, one electrohydraulic jumbo drilling machine, three scoop trams and three tractors, each of which are currently operational on site.
In October 2019, the Company commenced development of three underground declines from the main LAPAZ level to intersect the inferred resource body in the Santana, Ayata and the Miguel sectors. The total development in these sectors is projected to run for 8,704 meters alongside such inferred resource body.
A new 10 tonne per hour (“t/hr”) pilot washing plant was fully commissioned in 2019 and is currently being operated by an all-female crew. This way, the washing process at the Coscuez mine has transitioned from manual washing to washing at the much more efficient pilot washing plant. A new washing plant with projected capacity of 100 t/hr is currently being designed and is expected to be commissioned by Q4-2020.
From day one, Fura’s priority at the Coscuez mine has been to strengthen its safety policies and establish international industry standard procedures. Standard safety operating procedures have been adopted and are in the process of being implemented to international mining standards.
Due to the COVID–19 situation and the corresponding restrictions imposed by the Colombian government, from 20 March 2020 to 04 June 2020, the mine has been in a state of care and maintenance. Since 04 June, 2020, the lockdown has been gradually lifted and mining operations have commenced at 50% work-force capacity, with requisite safety and sanitisation measures implemented.
Fura is currently in discussions with the Colombian mining agency, ANM, to extend the mining licence underlying the Coscuez mine (being mining licence no. 122 – 95M) which is due to expire on 09 October 2020. As of the date of this press release, Fura has obtained approval for the 30 year mine plan (the “PTO” by its acronyms in Spanish), which remains subject to an updated environmental licence and the extension of the mining contract. The ANM will inform Fura of the next steps required to move forward in the licence extension process.
Dev Shetty, President & CEO of Fura, commented:
“We are pleased to provide this operational update regarding our 76%-owned producing Coscuez emerald mine in Colombia. The work carried out by the Fura team all through 2019 and into early 2020 has shown some extraordinary results. Most noteworthy is the team turning the operation into a mechanised mine and the introduction of the new, all women washing plant, which has increased the mining and washing capacity.
Unfortunately, due to global travel restrictions and the market conditions that have arisen as a result of COVID-19, we cancelled our inaugural Colombian emerald auction, previously scheduled for the month of May 2020. As the global situation is evolving rapidly, we continue to monitor developments and will wait for an appropriate time to hold our first auction.
As always, I would like to thank the entire Fura team for all their dedication and hard work in developing the Coscuez mine to this stage.”
Safety, Mining and Geology
Since Fura’s acquisition of its 76% interest in the Coscuez mine, Fura’s safety department has reinforced the Company’s safety standards & policies by including stricter preventive measures, as well as establishing a process for more effectively monitoring the use of personal protective equipment. In addition, Fura’s safety department has overseen the implementation of the standard operating procedures set out in Fura’s “Safety First” policy. Such efforts have shown positive results, with the number of accidents having decreased since previous years.
In addition, Fura’s team has been busy processing the data generated by the Company’s underground diamond drilling campaign to establish patterns that could help to identify productive structures and to generate new targets in the inferred resource. As part of the underground mining exploration program, the Company has plans to construct several exploration tunnels in various areas for discovering/confirming possible mineralized structures/areas.
From the geological studies carried out in 2019 and the litho-structural model generated by geologic and mining software, it was possible for us to prepare a 30-year mine plan, which was approved by the Colombian mining authority in December 2019.
During 2019, Fura’s Coscuez team focused its efforts on strengthening safety policies and procedures at the mine. After finishing the expansion of the La Paz tunnel section in accordance with the dimensions established by current mining and safety regulations, the team initiated the mechanisation process, described below.
Since the beginning of 2019, Fura’s Coscuez team has been working to mechanise the mine with modern equipment suitable for narrow vein mining to increase mining capacity as compared to 2018. A total of 12 mini-dumpers with four & two-tonne capacities, one electrohydraulic jumbo drilling machine, three scoop trams, and three tractors were acquired for this purpose. With this addition, the Coscuez team has reduced manual drilling and eliminated manual loading and hauling operations.
Another technical improvement that the Company introduced in 2019 was the implementation of a new active support system consisting of cement-grouted rock bolts, split sets, wire mesh, and shotcrete layers instead of the traditional passive rock support system based on timber sets.
A total of 31,963 t was mined during 2019, representing a 109% increase as compared to 2018.
Furthermore, two international consultants, Bisa and MiningOne, have been retained to complete two technical studies. The first study is a geotechnical study for rock support and mining methods for different types & rock qualities. The topic of the second study is focused on the design of current and mid-term ventilation system.
As part of the mine mechanisation process and our target to increase productivity, in 2019 we commissioned a new washing plant. The plant has a nominal capacity of 10 t/hr and is operated by an all-woman crew. As of now, we are operating the plant by way of a single 12-hour shift per day, however, we are working towards continuous 24/7 operations in the near future.
Environmental
During 2019, a baseline study on the mine’s environmental impact was conducted. As part of our implementation program, waste dump material was removed from the vicinity of the nearby stream, and the La Paz dump was properly benched with stable slopes. Trees were also planted at various locations to stabilise the slopes. The mine is now in full compliance with the environmental obligations set out in our environmental licence, the terms of which were agreed with environmental authorities in 2018.
Qualified Person
Harrison Cookenboo, Ph.D. and P.Geo. and G. Ross MacFarlane, P.Eng. are Qualified Persons as defined by NI 43-101, and have reviewed the scientific and technical information regarding the Inferred Mineral Resource estimated by WGM as described in this news release and have approved its dissemination. Cookenboo, MacFarlane and WGM are considered independent of Fura.
Thia was news in 2018 nothing recent from then as far as I can find. But someone seems interested in FRMA. No idea why.
New debenture project to provide financing of debenture expiring later this year. Non dilutive.
""Kontrol") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces the commencement of a non-brokered private placement (the "Offering") of up to $5,800,000 principal amount 8% unsecured debentures of the Company maturing on October 31st, 2022 (each, a "2022 Debenture"). The 2022 Debentures will be issued as part of a unit (each, a "Unit") comprised of one $1,000 2022 Debenture and 50 common shares of the Company (each, a "Common Share").
"The 2-year extension of the October 2020 debentures provides a significant improvement to our balance sheet and maintains our focus on limiting dilution to Kontrol's common shares as we continue to execute on our growth strategy," says Paul Ghezzi, CEO of Kontrol.
The Company intends to allocate up to $5,800,000 of the Units for issuance to holders of the outstanding 8% unsecured debentures of the Company maturing on October 31st, 2020 (the "2020 Debentures") who wish to exchange their 2020 Debentures for Units in the Offering. The balance of the Units not issued to holders of 2020 Debentures in exchange for their return for cancellation of their 2020 Debentures will be offered to purchasers for cash. The holders of the 2020 Debentures are under no obligation to exchange the 2020 Debentures for Units. The 2022 Debentures will bear interest at a rate of 8% per annum, payable monthly in arrears and will mature on October 31st, 2022. The Company shall make a bonus payment of 1% interest payable annually to the holders of the 2020 Debentures, in cash or in common shares, at the sole discretion of such holders. The 2022 Debentures are non-convertible and non-redeemable and will rank pari passu with all other unsecured indebtedness of the Company. The 2022 Debentures partially comprising the Units are not listed on any stock exchange or market.
The 2022 Debentures and Common Shares comprising the Units will be subject to a resale restriction of four months and one day from their date of issuance.
The Company may pay a selling commission or finder's fee to securities dealers or finders engaged by the Company not exceeding 7% of the aggregate principal amount of the Offering in cash and 7% of the aggregate principal amount of the Offering in broker warrants (the "Broker's Warrants") from the sale of the Units. Each Broker's Warrant will be exercisable to purchase one additional common share of the Company at a price per equal to the 10 day volume weighted average price (VWAP) of Kontrol's common shares at the date of closing, such pricing being subject to the policies of the Canadian Securities Exchange.
Completion of the Offering is subject to the Company exchanging a minimum of two hundred 2020 Debentures in exchange for Units in the Offering.
The Offering will be made by way of private placement in Canada and may be offered in other jurisdictions where the Units can be issued pursuant to exemptions, exempt from any prospectus, registration or other similar requirements. The Offering is subject to certain conditions including, but not limited to, the approval of the Canadian Securities Exchange.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This document shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emission
More moves by management to prepare for drilling on the Caldera project. Hopefully, this summer will see action although probably a PP will be needed to finance the work.
"Discovery Harbour") is pleased to announce positive progress towards receiving the required permits for a drill program on its Caldera gold project in Nevada. The Company has also negotiated improved property terms.
The United States Forest Service ("USFS") has completed its review of the Exploration Plan of Operations ("the Plan") submitted by the Company (see News Release, April 8, 2020) in furtherance of the planned Caldera drill program. The USFS has determined the Plan meets the regulatory requirements to proceed with its environmental review. To conduct this review, the USFS has determined that only an archaeological survey will be required. The Company has engaged a Nevada contractor and expects that the required archaeological work will be completed within the next few weeks, at which point a report will be prepared and submitted to the USFS. The environmental review identifies the level of environmental impact and determines the form of impact assessment. Once a determination is made, the final environmental impact assessment will be completed. Future drilling will be subject to further USFS and other regulatory approvals.
Mark Fields, the President and CEO of the Company, comments, "We are pleased that our permitting is proceeding in a timely manner. We are on track to undertake a drill program this fall, subject to financing and final regulatory approvals. The Plan includes testing up to 10 drill targets in five separate mineralized areas. Our strategy is to drill 100 to 300 metres deeper than any previous drilling on the Caldera project. We believe the high-grade gold occurrences historically drilled over significant widths at or near surface were deposited by a deeper, potentially high grade, low sulphidation epithermal gold system. The planned drill program will be the first test to the necessary depth." (See News Releases, April 8, March 4, February 10, January 9, 2020).
The Company is also pleased to announce an amendment to the Company's property option agreement to acquire a 100% interest in the Caldera project, subject to advance minimum royalty payments and a 2% retained royalty. In light of the market uncertainty caused by the COVID-19 pandemic, the Optionor and Discovery Harbour have agreed that the US$100,000 Advance Minimum Royalty payment due in November this year will be amended such that US$50,000 will be paid in November and US$50,000 will be payable 6 months later.
Mark Fields comments, "We continue to appreciate the co-operation and positive relationship we have with our Option partner, Genesis Gold Corporation and the Rostas."
The 100% Discovery Harbour-optioned Caldera property was generated by Don Merrick and John Zimmerman of Genesis Gold Corporation, a private Utah company specializing in gold exploration in the Western United States (www.genesisgoldcorp.com), the foundation of which are the claims first staked by Zsolt Rosta.
Ho Hum another royalty from Beach, Australia.Money in the bank.
("Newport" or "the Company") is pleased to report its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the February to April 2020 quarter.
Newport Exploration Ltd. (CNW Group/Newport Exploration Ltd.)
Gross royalty income for the quarter was AUD$3,364,809. The AUD$2,355,366 payment received by Newport is net of 30% withholding taxes (AUD$1,009,443) in accordance with the Australian Tax Office.
With the success of the drilling programs conducted by Beach for both oil and gas permits over which the Company holds its 2.5% GOR, and its low cost of oil production, as reported in a Company News Release dated April 22nd, 2020, the Company anticipates continuity of production and associated royalty revenues.
Newport has approximately CDN$8 million in its Treasury, comprised of cash, cash equivalents, and short-term investments, with no debt. As announced on May 13th, 2020, Newport's second quarterly dividend payment date is June 10th, 2020. After the dividend payment, the Company will have approximately CDN$6.9 million in its treasury.
The Company has a strong balance sheet and management is confident in its ability to maintain regular quarterly dividend payments as committed to in a News Release dated December 12th, 2019.