| From: PaperPerson | 9/29/2012 8:35:58 AM | | | | | | A current favorite warrant just got a pink sheet symbol. ELG-WT.TO is now tradeable in u.s. as
ELGWF.
The main stock is
Elgin Mining Inc.
ELG:CA $0.71. Its already established pink sheet listing is ELGMF.
BACKGROUND:
| | April 30, 2012
Elgin Mining And Gold-Ore Resources Announce Results Of Shareholder Meetings
| | | Vancouver, British Columbia, April 30, 2012 - Elgin Mining Inc. (TSX-V: ELG) ("Elgin Mining") and Gold-Ore Resources Ltd. (TSX:GOZ) ("Gold-Ore") are pleased to announce that at Special Meetings of the Shareholders (the "Meeting") held earlier today, both companies received overwhelming approval for the plan of arrangement (the "Arrangement") pursuant to which Elgin Miningwill acquire all the issued and outstanding common shares of Gold-Ore ("Gold-Ore Shares").
Of the votes cast, 99.31% of Gold-Ore shareholders voted in favour of the special resolution approving the Arrangement. Of theElgin Mining votes cast, 99.8% voted to approve the issuance ofElgin Mining common shares ("Elgin Mining Shares") andwarrants to purchase Elgin Mining Shares ("Elgin MiningWarrants") in connection with the Arrangement. Under the Arrangement, Gold-Ore shareholders will receive in exchange for each Gold-Ore Share, one Elgin Mining Share and one half of oneElgin Mining Warrant. Each whole Elgin Mining Warrant will be exercisable at a strike price of $1.30 per Elgin Mining Share with a two year term
"We are very pleased with the results of the shareholder votes today. The combination creates a junior gold producer with near term growth in the politically safe jurisdictions of Canada and Sweden," commented Patrick Downey, President and CEO ofElgin Mining. "Our focus will now be on cost reduction initiatives at the Bjorkdal Mine in Sweden and the accelerated development of the Lupin Mine towards a production decision. The combined company will have a strong treasury, cash flow and an excellent growth platform."
"We appreciate the support of our shareholders in approving this transaction with Elgin Mining. Our management team and Board of Directors believe that this transaction will create value for our shareholders," stated Glen Dickson, Chairman and CEO of Gold-Ore. "The combined company will have a stronger asset base, low capital/execution risk and operations are fully permitted. The merged company will greatly benefit from the experience of the combined management teams."
Gold-Ore's application to the Alberta Superior Court to obtain the final order approving the Arrangement is scheduled for Tuesday, May 1, 2012. Assuming court approval is obtained and that all other conditions to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about May 2, 2012. Delisting of Gold-Ore common shares from the Toronto Stock Exchange ("TSX") is expected to occur on or about May 4, 2012. Graduation of the Elgin Mining Shares and Elgin MiningWarrants to the TSX is expected to occur on or about May 4, 2012.
Full details of the Arrangement and certain other matters are set out in the management information circulars of Elgin Mining and Gold-Ore and the joint management information circular supplement of Elgin Mining and Gold-Ore (the "Information Circulars") dated April 3, 2012. A copy of the definitive agreement, Information Circular, and other meeting materials can be found on the SEDAR website at www.sedar.com.
Elgin Mining also wishes to announce that, effective today, John Huxley, who has been a director since 2008, will be replacing Bob Buchan as Chairman of the Board in anticipation of the closing of the Arrangement and to meet TSX corporate guidelines for the subsequent listing. Mr. Buchan was appointed Chairman in June 2008, President from March 2010 to July 2011 and will remain as a director of Elgin Mining.
Commenting on the above, Bob Buchan stated, "I am happy to hand over the role of Chairman to John Huxley who has been a director since the Company became public. I will remain an active director and am excited about the direction and growth prospects for the Company."
Elgin Mining Inc.
Elgin Mining is a Canadian based company focused on the exploration and development of the Lupin Gold Mine and Ulu gold project, both located in Nunavut Territory, Canada. In addition, the Company's portfolio includes a 36% interest in Auracle Resources, which is exploring the Mexican Hat property in Arizona and an exclusive right and option to earn a 60% interest in LincolnMining's Oro Cruz (California) and La Bufa (Mexico) gold projects. The Company will also selectively review opportunities to add advanced stage development projects to its portfolio.
For further information, please visit Elgin Mining's web site at www.elginmining.com.
Gold-Ore Resources Ltd.
Gold-Ore is a gold producing company focused in the low political risk jurisdiction of Sweden. The company's primary asset is the Bjorkdal Gold Mine, which has produced 1,060,000 ounces in the last 24 years. Drilling is expanding the resources indicating a long mine life at current gold prices. The company has a strong balance sheet, generates significant cash flow from gold sales, and remains un-hedged.
For further information, please visit Gold-Ore's web site at www.goldore.ca.
Elgin Mining Inc.
Patrick Downey
President & Chief Executive Officer
Tel: (604) 682-3366
Email: info@elginmining.com
Gold-Ore Resources Ltd.
Glen Dickson
Chairman & Chief Executive Officer
Tel: (604) 687-8884
Email: info@goldoreresources.com
Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of Elgin Mining's future plans and operations and are based onElgin Mining's and Gold-Ore's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Elgin Mining's and Gold-Ore's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Elgin Mining and Gold-Ore undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinion's should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
| | | | | You can view the Next News Releases item: Wed May 2, 2012, Elgin Mining and Gold-Ore Resources Announce Closing of Merger Creating Growth Oriented International Gold Producer, Developer and Explorer
You can view the Previous News Releases item: Mon Apr 23, 2012, Elgin Mining Releases Third Set of Drill Results at the Lupin Mine
You can return to the main News Releases page, or press theBack button on your browser.
|
|
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: PaperPerson | 10/2/2012 10:18:05 AM | | | | | | Claude Resources Inc. 2012 production guidance remains on track with strong Q3 results
CGR/CRJ.TO) u.s. 85 cents :
Co has announced preliminary production results from its 100% owned and operated Seabee Gold Operation. During the third quarter the Seabee Gold Operation produced ~ 15,100 ounces of gold representing a 24% increase over the second quarter 2012 production of 12,166 ounces of gold. During the quarter, the Company milled 66,173 tonnes at a grade of 7.27 grams per tonne. During the fourth quarter of 2012, the Company expects to complete the Seabee shaft extension. The shaft will be shut down for ~ 4-5 weeks. The Company expects to continue milling during this period and consequently expects to meet its production guidance of 48,000 to 50,000 ounces for the full year. The shaft project will extend the shaft to 980 metres from its current depth of 600 metres. This extension is expected to improve operating efficiencies and significantly lower operating costs on the Seabee ore body. |
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: PaperPerson | 1/2/2013 4:55:40 PM | | | | | | Silver stock alexco AXU starting to act cool.
stockcharts.com
Stock made a 7.8 percent move wednesday with silver bullion getting sparky. broke out above its 50-day moving average, too. i dont own it yet, but i think i might buy some.
in SLV, the silver etf, which is a fair proxy for silver the metal. you can see the parallel action.
stockcharts.com
both showing positive accumulation via the on-balance-volume chart (OBV).
alexco web site
alexcoresource.com |
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: TheSlowLane who wrote (4667) | 1/8/2013 10:04:39 AM | | From: PaperPerson | | | | TSL, thanks for sharing that info on alexco. great to have somebody with good instincts like you visiting the site, instead of having to rely just on what is on paper. i just bought a 1000 to start. but it does seem like a great time to accumulate it.
Michael |
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: PaperPerson who wrote (4668) | 1/8/2013 10:11:26 AM | | From: TheSlowLane | | | | | The market has gotten so whacky I have no idea what will happen over the short term with anything so if I can find companies that I feel are competent and focused and have good assets then I am relatively comfortable holding them and waiting for things to develop. No guarantees though, of course. <g> |
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: TheSlowLane who wrote (4665) | 1/12/2013 4:02:00 PM | | From: DrBill | | | | SlowLane, PaperPerson:
Happy New Year.
The #5 company on the list, Aurcana (v.AUN), is showing hyper-growth in 2013-2014. S/B producing close to 10 million silver oz. within 12 months. This coupled with a likely spike in siver prices could very well drive AUN to from 3X to 5X of the current SP. Isn't rapid increase in SP the objective?
Regards,
DrBill |
| | DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| |
