Replies to post #3790 on Captain's Quarters

[JD400]

VISIBLE GOLD MINES COMPLETES OVER-SUBSCRIBED $1.53 MILLION WITH TWO STRATEGIC INVESTORS - GOODMAN AND MCEWEN MINING

The flow-through shares and units were issued on a best-efforts basis through Maison Placements Canada Inc. (“Maison Placements Canada”), as agent. As the private placement was over-subscribed, Maison Placements Canada exercised, at the closing, an over-allotment option granted to it by Visible Gold Mines to increase the size of the private placement.


McEwen Mining Inc., a company founded by its Chairman Mr. Rob McEwen, who is also the founder and former Chairman and CEO of Goldcorp Inc., subscribed for 8,333,333 Units ($500,000) in the private placement. In addition, accounts managed by Goodman & Company, Investment Counsel Inc. (“Goodman & Company”), a wholly-owned subsidiary of Dundee
Corporation, of which Mr. Ned Goodman acts as Chairman, also subscribed for an aggregate of $1 million in flow-through shares and units in the private placement.


“We are very excited to have McEwen Mining and accounts managed by Goodman & Company as shareholders of Visible Gold Mines. This is as great endorsement of our promising mining projects, in particular our Project 167 in the James Bay area”, stated Martin Dallaire, President and Chief Executive Officer of Visible Gold Mines.


Visible Gold Mines will use the proceeds from the issuance of the flow-through shares and units for exploration on its properties located in Québec and working capital purposes, respectively.


In connection with the private placement, Visible Gold Mines paid a cash commission to Maison Placements Canada, as agent, of $122,003 and issued to Maison Placements Canada, as agent, (i) 731,295 broker warrants (the “Broker Warrants”) in connection with the sale of the "flow-through" shares, and (ii) 1,312,500 broker warrants (the “Broker Units”) in connection with the sale of the units. Each Broker Warrant entitles Maison Placements Canada to acquire one common share of
Visible Gold Mines at a price of $0.07 for a period of 18 months from the closing date. Each Broker Unit entitles Maison Placements Canada to acquire one unit of Visible Gold Mines at a price of $0.07 for 18 months from the closing date, with each unit consisting of one common share of Visible Gold Mines and one Warrant.


As a result of the private placement, there are 80,043,345 common shares of Visible Gold Mines issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on February 28, 2015.


About Visible Gold Mines


Visible Gold Mines Inc. is a dynamic company aggressively searching for the next important gold deposit in northwestern Québec, an area consistently ranked as one of the world’s best jurisdictions for mining and exploration. Visible Gold Mines has no debt and its current cash liquidity is approximately $1.7 million.


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 the release.


For further information, please contact:
Martin Dallaire, President and Chief Executive Officer Telephone: [phone], Fax: [phone]
E-mail: [e-mail]
Website: www.visiblegoldmines.com

[JD400]

Great Job Crew we made it through Sept&Oct.

Now it's time to put some of hard earned liquid cash
in a oil well right next to the battle zone
in Iraq.

Huge Risk Gain Oil Take-Over play

So fun, she staring to go, holding a 30% surge from the week.

And a ton of good news expected

as long as we don't get bombed.

come on maties live a little

lets take the boat over to the middle east. Arrrough,Arrr, Arr

http://investorshub.advfn.com/Gulf-Keystone-GUKYF-19180/

[JD400]

CHART: Mining capital crisis continues

Hundreds of mining companies still face financial conditions that threaten their existence, says consultants Grant Thornton in a new report.

Nearly one third of junior miners need to raise additional funds within six months, and just under 60% would need to top up cash within a year, according to a survey among 250 mining executives conducted for the report.

10% of juniors "don't know" if they need more money; probably a sign that they do.

The situation is not as dire for larger companies but even then 35% of major miners – listed firms with a market cap of more than $500m or private companies with 500-plus workers – anticipate a need to change their capital structure within one year

But there are probably more junior opportunities out there than there are willing and capable buyers

"It is an untenable situation for many mining companies, and one that has plagued the industry since the summer of 2010,” said Jeremy Jagt, mining leader for Grant Thornton Canada.


"We would ideally like to see junior miners holding sufficient funds to support their operations for a year or more. When they don’t, they gradually enter into a capital “Catch 22” – weakened to the point where they cannot sustain sufficient operations or keep projects moving to generate cashflow, but also unable to source affordable funding because they’re not producing cashflow and/or moving their projects forward. They struggle to get out of that cycle."

Grant Thornton expects mergers and acquisitions in the sector to double this year compared to 2013, but "for some mining companies, a rise in M&A and market upturn may come too late. One in 10 junior miners are likely to go into administration, and 16% are likely to halt operations temporarily, according to the advisory firm's survey

View chart here

http://www.mining.com/chart-mining-capital-crisis-continues-80703/

[JD400]

Gharma are you coming down today for Sundevil/Cats

rivalry game. If so come bye for a free car wash.

However the water in the wash bucket is looking

piss yellow.

Good Luck