hi Bob, good morning. interesting views for (TSXV - RMK) (CNQ - RMKL)
RE: Video presentation by chairman Philip F. Cunningham - has been a director of the company since August 2004 - and Chairman since May 2005. Mr. Cunningham is executive vice president of Mackenzie Financial Corporation and chairman of Mackenzie Financial Services Inc. He joined the Mackenzie organization in 1982 -
Mackenzie - offers more than 100 investment funds in Canada and the United States - Mackenzie - manages more than $45 billion - for over 1,000,000 investors and their financial advisors... as major shareholder for Roxmark Mines Limited -
Roxmark completes $1.18 million flow-through financing - Tuesday December 18, 2:36 pm ET TORONTO, Dec. 18 /CNW Telbec/ -
Roxmark Mines Limited - (TSXV - RMK) (CNQ - RMKL) announces the completion of a $1,176,915 non-brokered private placement financing. Participants in the financing include two specialized funds and six private investors.
Gross proceeds of $1,176,915 were raised in connection with the issuance of 3,795,500 flow-through units at a price of $0.31 per unit. Each unit consists of one common share and one warrant, issued on a "flow-through" basis. Each warrant entitles the holder to purchase one common share at a price of $0.45 until December 14, 2008 and thereafter at $0.55 until December 14, 2009, subject, in each case, to the right of Roxmark to accelerate the expiry date of the warrants under certain conditions.
The securities issued pursuant to the financing are subject to a hold period expiring on April 15, 2008.
Proceeds of the financing will be used to fund the exploration and development program to advance Roxmark's holdings of the Northern Empire Gold Mine - and the Nortoba gold and molybdenum property - in the Beardmore mining camp in Northern Ontario.
As previously announced, Roxmark will commence a drilling - program to test the additional known strike length of 1,200 metres still undrilled on the west extension of the Contact Zone at its Northern Empire property.
Roxmark also announced that it is planning to reopen - the Northern Empire Mine - and develop the resources from underground workings.
The Northern Empire Mine - was operated successfully by Newmont Mines - from 1934 to 1941. The mine was serviced by a shaft to a depth of 2,460 feet and produced 149,000 ounces of gold from 426,000 tons of ore at a recovered grade of 0.35 oz/t Au.
The on-site 200TPD mill (expandable to 500TPD) was built in 1982 and upgraded and permitted by Roxmark.
It processed gold and molybdenum ores in 2005 and 2006, respectively.
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