News: $MPUCF Moneta announces increase in Eric Sprott stake to 9.0% - whytestocks thank you great News :-))
Moneta announces increase in Eric Sprott stake to 9.0% Canada NewsWire TORONTO, Sept. 10, 2019 Symbol: TSX: ME TORONTO , Sept. 10, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce a non-...
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TORONTO, Sept. 10, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce a non-brokered private placement financing with Eric Sprott (the "Placement") of (a) 4,545,455 common shares (the "Shares") at a price of $0.11 per share and (b) 15,625,000 common shares at a price of $0.16 per share, issued on a flow-through basis (the "Flow Through Shares"), for an aggregate amount of $3,000,000 and 20,170,455 shares. The placement will increase Mr. Sprott's shareholding to 27,870,455 shares, equivalent to 9.0% of the total shares outstanding.
The proceeds of the Flow Through Shares will be used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's Golden Highway project, which will be renounced to the subscribers with an effective date no later than December 31, 2019, in the aggregate amount of not less than the gross proceeds raised for the Flow Through Shares portion of this Placement. A total of one hundred and thirty three thousand dollars was paid in cash finder's fees. Closing of the Placement is expected to close shortly. The Placement is subject to a standard four month hold period and final regulatory approval.
About Moneta The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone ("DPFZ") in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current NI 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 Mt @ 4.61 g/t Au and a total of 873,200 ounces gold contained within 6.46 Mt @ 4.21 g/t Au in the inferred category at a 3.00 g/t Au cut-off.
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Moneta Announces Closing of Strategic Investment by Eric Sprott 9-20-19 8:00 AM EDT
| EmailArticleMoneta Announces Closing of Strategic Investment by Eric Sprott Canada NewsWireTORONTO, Sept. 20, 2019
Symbol: TSX: ME
TORONTO, Sept. 20, 2019 /CNW/ -
Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) ("Moneta" or the "Company") is pleased to announce the closing of a non-brokered private placement financing with Eric Sprott of (a) 4,545,455 common shares at a price of $0.11 per share (the "Shares") and (b) 15,625,000 common shares at a price of $0.16 per share, issued on a flow-through basis (the "Flow Through Shares"), for total gross proceeds of $3.0 million and an aggregate total of 20,170,455 shares (the "Placement").
Moneta Porcupine Mines Inc. (CNW Group/Moneta Porcupine Mines Inc.)
The placement increases Mr. Sprott's shareholding to 27,870,455 shares, or 9.0% of the total shares outstanding.
Gary O'Connor, CEO and Chief Geologist stated "We are pleased to have the continued confidence of Eric Sprott as a strategic long-term investor in Moneta. In addition to a forthcoming resource estimate update at South West, these additional funds will allow us to expand and accelerate the drill program to test the resource expansion potential at the immediately adjacent deposits and test new zones of mineralization identified on our Golden Highway Project".
The proceeds of the Flow Through Shares will be used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's Golden Highway project, which will be renounced to the subscribers with an effective date no later than December 31, 2019, in the aggregate amount of not less than the total amount of the gross proceeds raised from the Flow Through Shares. The Placement is subject to a standard four month hold period and final regulatory approval. Paradigm Capital acted as Moneta's financial advisor in connection with the Placement.
About Moneta The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 Mt @ 4.61 g/t Au and 873,200 ounces gold contained within 6.46 Mt @ 4.21 g/t Au in the inferred category reported at a 3.00 g/t Au cut-off.
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp. listed @ TSE & One of the Oldest Gold Mining Producer In Canada -
Moneta Gold Mine The Highest average grade Gold Mine Producer in Timmins - still virgin because the mill destroyed early by fire - the mining were @ shallow level - the rich ore often start below 1000 meter deep -
The Moneta Gold Mine is located in the NW portion of Moneta’s Kayorum property and is immediately adjacent to the east to the Hollinger Gold Mine.
Total production between 1938-1943 was 149,250 oz gold from 314,829 tons at an average grade of 0.47 oz/t.
The Moneta Gold Mine underground infrastructure includes a shaft to 1,492 feet with 6 levels of development.
Moneta’s Gold Mine Kayorum property is of particular interest as the immediately adjacent Hollinger Gold Mine pit project has been approved with development underway in 2012. The project envisions a 200-250m deep multiple phase open pit based on a 2010 resource of 3.47Mozs and 782,000 oz in reserves.
Exploration drill programs have also identified several underground mining opportunities by ramp and existing underground infrastructure for both the Hollinger (Millerton) and McIntyre (Central Porphyry Zone) mines - Hollinger underground working butt right up the border of Moneta Gold Mine @ Moneta’s Kayorum property still very large gold mine property - https://en.wikipedia.org/wiki/Hollinger_Mines
Moneta Announces Closing of Strategic Investment by Eric Sprott -
Moneta holds a 100% interest in 5 core gold projects and a 50% JV with Kirkland Lake Gold strategically located on or along the Destor Porcupine Fault Zone corridor (“Destor”), one of the key mineralized structures in the Abitibi Greenstone belt in Ontario, with excellent infrastructure including access roads, water, electricity, and mills.
Most gold mineralization in the region is associated with the Destor, including significant resources and producing mines now operated by Porcupine Gold Mines (Goldcorp) and several others such as Tahoe Resources, McEwen Mining, and Kirkland Lake Gold.
The Golden Highway Camp has experienced rapid advancement of gold resources by Moneta and others including Osisko Mining reflecting the strong regional gold potential.
Moneta has interests in 1,046 claim units each approximately 16 hectares in area (total area approximately 16,800 hectares) in the form of mining patents, leases and staked claims. Most of the Company’s landholdings are not subject to any royalty or encumbrances other than minor royalties to third parties on a limited number of claims primarily outside the Golden Highway Project.
The Porcupine Camp and Golden Highway Camp (here collectively referred to as “Timmins Camp“) is one of the most prolific gold-producing areas in the world with over 75 million ounces of gold produced to date, including that from some 26 mines, each of which generated more than 100,000 ounces.
Moneta’s land position for gold exploration is one of the largest in the Timmins Camp including a commanding position in the emerging Golden Highway Camp as well as an established position in the Porcupine Camp. The Golden Highway Project is a largely contiguous land package of 689 claim units or approximately 11,000 hectares, and contains a significant gold NI 43-101 Resource Estimate (Jan 2019) containing 383,400 oz indicated (2.6Mt @ 4.61 g/t) plus 873,200 oz inferred (6.5Mt @ 4.21 g/t).
Click to enlarge
Moneta’s recent primary gold exploration and resource development focus has been the Golden Highway Project centred in Michaud Township 100 km east of Timmins, Ontario along Highway 101, a major all-season route.
The Golden Highway Project captures 12 kms of the Destor Porcupine Fault Zone Corridor, one of the most prolific Archean gold-bearing structures in the world. The project currently hosts a NI 43-101 resource, spanning only 4 km of the corridor and found primarily within sedimentary host rocks along a southern splay of the Destor. Resource growth potential exists along the remaining 8 km of largely untested strike length along the Destor in contact with ultramafic units, where limited historical drilling has already confirmed gold mineralization.
The main unconformity which occurs as the mafic volcanic-sediment contact also remains largely untested. Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold in the Golden Highway Camp.
Moneta continues to maintain a large land holding in Porcupine Gold Camp which includes the gold properties of North Tisdale, Nighthawk Lake, Kayorum, DeSantis and Denton. Additional properties with strategic value are historical base metal projects and include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu).
Moneta Porcupine Exhibiting at Booth 731, Vancouver Resource Investment Conference, Jan 19-20, 2020 2 days ago from Newsfile Vancouver, British Columbia--(Newsfile Corp. - January 14, 2020) -
Moneta Porcupine (TSX: ME) would like to cordially invite you to visit us at Booth #731 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 19 – Monday January 20, 2020.
The Vancouver Resource Investment Conference has been the bellwether of the junior mining market for the last twenty-five years. It is the number one source of information for investment trends and ideas, covering all aspects of the natural resource industry.
Each year, the VRIC hosts over 60 keynote speakers, 350 exhibiting companies and 9000 investors.
Investment thought leaders and wealth influencers provide our audiences with valuable insights. C-suite company executives covering every corner of the mineral exploration sector as well as metals, oil & gas, renewable energy, media and financial services companies are available to speak one on one. This is a must-attend for investors and stakeholders in the global mining industry.
The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 556,500 ounces gold contained within 3.82 Mt @ 4.53 g/t Au and a total of 1,174,000 ounces gold contained within 8.47 Mt @ 4.31 g/t Au in the inferred category at a 3.00 g/t Au cut-off.
For further information:
Moneta Porcupine Gary O'Connor 416-357-3319/705-264-2296 goconnor@monetaporcupine.com
The K2 Principal Fund L.P. Acquires Shares of Moneta Porcupine Mines Inc. (TSX: ME)(MPUCF: US) Canada Newswire , 9:07 AM EDT May 04, 2020
Canada NewsWire TORONTO, May 4, 2020
The K2 Principal Fund L.P. ("K2") announced that on May 1st, 2020 it purchased 98,500 common shares of Moneta Porcupine Mines Inc. (TSX: ME) of 65 3rd Ave, Timmins, ON, P4N 1C2. Each share was purchased through the TSX at an average price of at a price of $ 0.1187 for a total cost of $11,692.12.
Prior to the recent acquisition, K2 held 31,085,000 common shares. After the acquisition, the partnership holds 31,183,500 common shares representing approximately 10.01% of the issued and outstanding common shares of Moneta Porcupine Mines Inc.
K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of Moneta Porcupine Mines Inc through market transactions, private agreements or otherwise.
Dan Gosselin, The K2 Principal Fund L.P., (416) 365-2155
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp. listed @ TSE & One of the Oldest Gold Mining Producer In Canada -
Moneta Gold Mine The Highest average grade Gold Mine of the Gold Mine Producers in Timmins Porcupine Gold Fields -
Moneta Gold Mine still virgin because the mill destroyed early by fire - the mining were @ shallow level - the rich ore often start below 1000 meter deep -
The Moneta Gold Mine is located in the NW portion of Moneta’s Kayorum property and is immediately adjacent to the east to the Hollinger Gold Mine.
Total production between 1938-1943 was 149,250 oz gold from 314,829 tons at an average grade of 0.47 oz/t.
The Moneta Gold Mine underground infrastructure includes a shaft to 1,492 feet with 6 levels of development.
Moneta’s Gold Mine Kayorum property is of particular interest as the immediately adjacent Hollinger Gold Mine pit project has been approved with development underway in 2012.
The Hollinger project envisions a 200-250m deep multiple phase open pit based on a 2010 resource of 3.47Mozs and 782,000 oz in reserves.
Exploration drill programs have also identified several underground mining opportunities by ramp and existing underground infrastructure for both the Hollinger (Millerton) and McIntyre (Central Porphyry Zone) mines -
Hollinger underground workings butt right up the border of Moneta Gold Mine @ Moneta’s Kayorum property - is still very large gold mine property -
Moneta Porcupine Mines Inc holds a 100% interest in 5 core gold projects and a 50% JV with Kirkland Lake Gold strategically located on or along the Destor Porcupine Fault Zone corridor (“Destor”), one of the key mineralized structures in the Abitibi Greenstone belt in Ontario, with excellent infrastructure including access roads, water, electricity, and mills.
Most gold mineralization in the region is associated with the Destor, including significant resources and producing mines now operated by Porcupine Gold Mines (Goldcorp) and several others such as Pan American Silver Corp. (Tahoe Resources), McEwen Mining, and Kirkland Lake Gold.
The Golden Highway Camp has experienced rapid advancement of gold resources by Moneta and others including Osisko Mining reflecting the strong regional gold potential.
Moneta Porcupine Mines Inc. has interests in 1,046 claim units each approximately 16,800 hectares in area (total area approximately 16,800 hectares) in the form of mining patents, leases and staked claims.
Most of the Company’s landholdings are not subject to any royalty or encumbrances other than minor royalties to third parties on a limited number of claims primarily outside the Golden Highway Project.
The Porcupine Camp and Golden Highway Camp (here collectively referred to as “Timmins Gold Camp“) is one of the most prolific gold-producing areas in the world with over 75 million ounces of gold produced to date, including that from some 26 mines, each of which generated more than 100,000 ounces.
Moneta’s land position for gold exploration is one of the largest in the Timmins Gold Camp including a commanding position in the emerging Golden Highway Camp as well as an established position in the Porcupine Camp.
The Golden Highway Project is a largely contiguous land package of 689 claim units or approximately 11,000 hectares, and contains a significant gold NI 43-101 Resource Estimate (Jan 2019) containing 383,400 oz indicated (2.6Mt @ 4.61 g/t) plus 873,200 oz inferred (6.5Mt @ 4.21 g/t).
Click to enlarge
Moneta’s recent primary gold exploration and resource development focus has been the Golden Highway Project centred in Michaud Township 100 km east of Timmins, Ontario along Highway 101, a major all-season route.
The Golden Highway Project captures 12 kms of the Destor Porcupine Fault Zone Corridor, one of the most prolific Archean gold-bearing structures in the world.
The project currently hosts a NI 43-101 resource, spanning only 4 km of the corridor and found primarily within sedimentary host rocks along a southern splay of the Destor. Resource growth potential exists along the remaining 8 km of largely untested strike length along the Destor in contact with ultramafic units, where limited historical drilling has already confirmed gold mineralization.
The main unconformity which occurs as the mafic volcanic-sediment contact also remains largely untested.
Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold in the Golden Highway Camp.
Moneta continues to maintain a large land holding in Porcupine Gold Camp which includes the gold properties of North Tisdale, Nighthawk Lake, Kayorum, DeSantis and Denton.
Additional properties with strategic value are historical base metal projects and include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu).
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