AI
Sutter Gold Mining Closes $4.25 Million Loan Financing
* Press Release
* Source: Sutter Gold Mining Inc.
* On Wednesday August 12, 2009, 8:55 am EDT
http://finance.yahoo.com/news/Sutter-Gold-Mining-Closes-425-ccn-2098829950.html?x=0&.v=1
*
Companies:
o SUTTER GOLD MINING INC (Tier2)
*
Topics:
o Commodities
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2009) -
Sutter Gold Mining Inc. -
("Sutter" or "SGM" or the "Company") (TSX VENTURE:SGM - News) announces it has closed a secured loan facility ("the Facility") in the amount of US $4,250,000 with
RMB Australia Holdings Limited -
(the "Lender"), maturing August 31, 2010.
Related Quotes
Symbol Price Change
SGM.V 0.08 0.00
Chart for SUTTER GOLD MINING INC (Tier2)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40545651
The Facility bears an interest rate of Libor plus 7.5% per
annum calculated and payable on a monthly basis.
A 7.5% fee was paid in cash to the Lender upon execution
of the Facility agreement.
The proceeds of the Facility will be used to continue
the technical studies and initiatives described in
Sutter's press release dated June 29, 2009 and
to provide working capital.
About Sutter Gold Mining Inc.
Sutter is a growth oriented exploration and development company pursuing the goal of becoming an emerging gold producer.
The primary focus of the Company is the evaluation and
development of the Lincoln-Comet zone of the Sutter Gold
Project on the California Mother Lode Gold Belt.
The Lincoln-Comet and Keystone zones contain a NI 43-101 compliant resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t (0.33 oz/ton) containing 223,000 ounces gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 5.9 g/t (0.19 oz/ton) containing 458,900 ounces.
SGM currently controls over three miles of the Mother Lode, with 90% of the property still unexplored.
Potential exists at depth on the known mineralized zones on both the footwall and hanging wall of the Mother Lode, and on the Melones Fault, which is the principal regional structure of the Mother Lode that exists on the eastern portion of
SGM's property package.
In Mexico, SGM holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 grams/tonne gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
ON BEHALF OF THE BOARD OF DIRECTORS:
Clayr Alexander, President, CEO & Director
Sutter Gold Mining Inc.
For further information please visit our website at www.suttergoldmining.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Robert Hutmacher
Sutter Gold Mining Inc.
Chief Financial Officer
(303) 238-1438 ext. 22
(303) 238-1724 (FAX)
Email: bhutmacher@suttergoldmining.com
Website: http://www.suttergoldmining.com
* Press Release
* Source: Sutter Gold Mining Inc.
* On Wednesday August 12, 2009, 8:55 am EDT
http://finance.yahoo.com/news/Sutter-Gold-Mining-Closes-425-ccn-2098829950.html?x=0&.v=1
*
Companies:
o SUTTER GOLD MINING INC (Tier2)
*
Topics:
o Commodities
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2009) -
Sutter Gold Mining Inc. -
("Sutter" or "SGM" or the "Company") (TSX VENTURE:SGM - News) announces it has closed a secured loan facility ("the Facility") in the amount of US $4,250,000 with
RMB Australia Holdings Limited -
(the "Lender"), maturing August 31, 2010.
Related Quotes
Symbol Price Change
SGM.V 0.08 0.00
Chart for SUTTER GOLD MINING INC (Tier2)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40545651
The Facility bears an interest rate of Libor plus 7.5% per
annum calculated and payable on a monthly basis.
A 7.5% fee was paid in cash to the Lender upon execution
of the Facility agreement.
The proceeds of the Facility will be used to continue
the technical studies and initiatives described in
Sutter's press release dated June 29, 2009 and
to provide working capital.
About Sutter Gold Mining Inc.
Sutter is a growth oriented exploration and development company pursuing the goal of becoming an emerging gold producer.
The primary focus of the Company is the evaluation and
development of the Lincoln-Comet zone of the Sutter Gold
Project on the California Mother Lode Gold Belt.
The Lincoln-Comet and Keystone zones contain a NI 43-101 compliant resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t (0.33 oz/ton) containing 223,000 ounces gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 5.9 g/t (0.19 oz/ton) containing 458,900 ounces.
SGM currently controls over three miles of the Mother Lode, with 90% of the property still unexplored.
Potential exists at depth on the known mineralized zones on both the footwall and hanging wall of the Mother Lode, and on the Melones Fault, which is the principal regional structure of the Mother Lode that exists on the eastern portion of
SGM's property package.
In Mexico, SGM holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 grams/tonne gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
ON BEHALF OF THE BOARD OF DIRECTORS:
Clayr Alexander, President, CEO & Director
Sutter Gold Mining Inc.
For further information please visit our website at www.suttergoldmining.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Robert Hutmacher
Sutter Gold Mining Inc.
Chief Financial Officer
(303) 238-1438 ext. 22
(303) 238-1724 (FAX)
Email: bhutmacher@suttergoldmining.com
Website: http://www.suttergoldmining.com
