Saturday 26th May 2018

Resource Clips


September, 2010

Focused on the Future

September 29th, 2010

Poised For Growth in 2010

September 29th, 2010

Canaccord Sponsors Junior Mining Forum, Vancouver, October 14

With gold having broken through the historic $1,300-an-ounce barrier, investors are showing a renewed interest in junior miners, the companies that actually find the gold. But how can investors discern the best junior miners from the rest? What sets the successful junior apart? What does an analyst look at when choosing a junior miner?

With these questions in mind, David Kearnes, Senior Investment Adviser, Canaccord Wealth Management, is sponsoring the Junior Mining Forum in Vancouver, Thursday, October 14, at the Pan Pacific Hotel’s Crystal Pavilion Ballroom at 5.30 pm.

The Canaccord Junior Resource Forum comes at a particularly appropriate time, given the excitement which is beginning to surround the junior resource sector. This excitement was given tangible expression in a major story in the Globe and Mail September 28: “Gold Communities buzzing as prices soar,” by David Parkinson.

According to the Globe,

Financiers and entrepreneurs in this country’s mining-investment hot spots–Toronto and Vancouver–say their summer doldrums have given way to a renewed fundraising fervour. Phones have started ringing, restaurants have started filling and investors have started coming out of the woodwork looking to do deals.

The rise of the price of gold, the Globe reports, “has focused eyes on opportunities to get in on the golden action, as investors salivate over bullion’s bullish outlook combined with still-depressed valuations of gold stocks, particularly at the junior end of the sector.”

The Globe concludes that “the junior gold firms have become a focus of attention, largely because their stock valuations look extraordinarily cheap.”

Speakers at the Junior Mining Forum will include the CEOs: Jim O’Rourke of Copper Mountain Mining Corporation, Bruce Bragagnolo of Timmins Gold Corp and Charles Pitcher of United Mining Group, as well as a senior mining analyst from Canaccord. The Forum gives investors the opportunity to learn about three companies that started from scratch and built themselves into either producers or near-term producers.

Each company will give a 15-minute presentation, to be followed by questions and answers. Canaccord is well placed to sponsor this Forum, because the junior resource sector is one of the areas Canaccord specializes in. In addition, they provide research coverage on Timmins and Copper Mountain and we have participated in financing all three companies.

For David Kearnes of Canaccord, the Junior Mining Conference presents a prime opportunity for investors to familiarize themselves with a sector that is clearly on the move. It will be of particular value for investors looking at companies that are very close to production but have not yet had institutional research coverage.

Resource Clips is a media partner of the Junior Mining Forum and will be providing news and articles on the participating companies prior to the conference.

The 2010 Junior Mining Forum
October 14, 2010 – 5.30 pm
Crystal Pavilion Ballroom, Pan Pacific Hotel
999 Canada Place, Vancouver
Attendance is limited to 500
Seating is first come, first served
RSVP to attend!
Or call 604-643-7724

Southern Andes CEO Nick Tintor on the creation of Caracara Mining

September 29th, 2010

“Southern Andes’ main focus is in the Macusani camp and uranium exploration. When we took over control and management at the end of May, early June of this year, we saw that in the portfolio there were these assets that—three or four years ago didn’t have a lot interest—but that have a heck of a lot of interest today at $21 an ounce silver and the increased value of zinc and lead. So we created Caracara Mining that holds these assets—to spin them out to our shareholders—and since then we’ve added more ground and did a vendor deal to expand that footprint portfolio in silver and zinc.”

View Company Profile

Intrepid reports Indonesia Inferred Resources: 2.1MT copper, 8M oz gold

September 29th, 2010

IAU:CA reported an initial inferred resource of 500 million tonnes at 0.4% copper and 0.5 g/t gold—2.1 million tonnes of copper, 8 million ounces gold, at a cut-off grade of 0.2% copper, for the known porphyry-copper-gold zone of Tumpangpitu area at its Tujuh Bukit Project, Indonesia. Drilling continues with five rigs at the site.

CEO Brad Gordon said: “This inaugural porphyry resource estimate firmly identifies Tujuh Bukit as potentially a world-class copper-gold project. It has already delivered beyond our expectations, and we look forward to continuing to extend the as-yet undefined boundaries of this system. It’s still early days for us, but we are aggressively advancing both the sulphide and oxide components of this exceptional project and, with $40 million in the bank, we remain well funded.”
View Company Profile

Contact:
Brad Gordon,
CEO,
61 7 3007 8011
or 905.337.7673

by Ted Niles

Southern Andes Energy forms Subsidiary to develop Peru Projects

September 29th, 2010

SUR:CA announced the creation of a wholly-owned subsidiary, Carcara Mining Inc., to advance and develop its silver-zinc-lead projects in southern Peru. In consideration of its four projects, including 10,000 hectares recently staked at Princesa-Pilunani, Caracara will issue a total of 3 million common shares over a two year period, in addition to making cash payments of $500,000.

CEO of Southern Andes Nick Tintor told ResourceClips.com, “Southern Andes’ main focus is in the Macusani camp and uranium exploration. When we took over control and management at the end of May, early June of this year, we saw that in the portfolio there were these assets that—three or four years ago didn’t have a lot interest—but that have a heck of a lot of interest today at $21 an ounce silver and the increased value of zinc and lead. So we created Caracara Mining that holds these assets—to spin them out to our shareholders—and since then we’ve added more ground and did a vendor deal to expand that footprint portfolio in silver and zinc.”
View Company Profile

Contact:
Nick Tintor,
President/CEO,
416.987.0855

by Ted Niles

VG Gold’s President/CEO Tom Meredith on merging with Lexam Explorations

September 29th, 2010

“The merger will be beneficial because we do have very attractive projects with a significant amount of exploration potential that require strong funding. Merging with Lexam allows us to become Rob McEwen’s new Ontario gold company. As you know, he started Gold Corp and then he was at Rubicon Minerals, and so VG becomes his next Ontario gold project. The combination of the two companies brings together a very good asset package and a very good relationship with Rob McEwen.”

View Company Profile

VG Gold and Lexam Explorations to merge

September 29th, 2010

VG:CA and Lexam Explorations LEX:CA announced that they have reached an agreement in principle to merge. The Plan of Arrangement would provide common shareholders of VG with one common share of the combined company for every share currently held. Lexam common shareholders would receive 2.1 shares of the combined company. Chairman/CEO of Lexam Rob McEwen will become the Chairman of the combined company, and President/CEO of VG, Tom Meredith, will continue to hold those positions. The merged company will focus on the Timmins mining camp in Northern Ontario.

President/CEO of VG Gold Tom Meredith told ResourceClips.com, “The merger will be beneficial because we do have very attractive projects with a significant amount of exploration potential that require strong funding. Merging with Lexam allows us to become Rob McEwen’s new Ontario gold company. As you know, he started Gold Corp and then he was at Rubicon Minerals, and so VG becomes his next Ontario gold project. The combination of the two companies brings together a very good asset package and a very good relationship with Rob McEwen.”
View Company Profile

Contact:
Lexam Exporations,
Investor Relations,
647.258.0395

or VG Gold Corp.
Tom Meredith,
President/CEO,
416.368.0099

by Ted Niles

US Silver closes $6.9M Private Placement to fund Idaho Silver Mine

September 29th, 2010

USA:CA announced the closing of its $6.9 million private placement with Cormark Securities Inc. An aggregate of 26,565,000 units were issued at $0.26 per, including 3,465,000 units issued under the underwriter’s over-allotment option.

US Silver paid the underwriter, Cormark, a cash commission equal to 6% of the gross proceeds of the offering. US Silver plans to use the net proceeds of the private placement for redevelopment of the Coeur Mine in the Silver Valley, Idaho, and for general working capital purposes.
View Company Profile

Contact:
Tom Parker,
CEO,
208.752.0400

or Chris Hopkins,
CFO,
416.907.9539

by Ted Niles

Sandspring increases Private Placement to $45M

September 28th, 2010

SSP:CA announced that it has increased its recent private placement by $5.04 million. The offering will now include an additional 1,923,077 common shares, at $2.60 per, for a total of 17,323,077 common shares for gross proceeds of $45,040,000.

Sandspring has granted to the underwriters an over-allotment option to purchase an additional 2,310,000 common shares for additional gross proceeds up to $6,006,000. Sandspring intends to use the proceeds to fund exploration and development of the its Toroparu deposit, Guyana, and for general corporate purposes. The offering is scheduled to close on or about October 14.
View Company Profile

Contact:
Abraham Drost,
President/Director,
807.252.7800

by Ted Niles

Guyana Goldfield’s VP Exploration Dan Noone on gold assays of 4.6 g/t over 24.5m

September 27th, 2010

“The project is 25 km north of the Aurora deposit, and it’s a new discovery this year. It’s part of the Aranka set of claims, and this is the first drilling we’ve done this year—we’ve probably got another five or six targets out there that we’ll be following up on.

“The numbers to date look pretty good. It’s looking like we’ll have something there that’s significant. It shows that we’ve got a district out there, so it’s quite exciting. It’s the first of what we expect will be a number of successes in the Aranka district. We plan to have a resource calculation out by the end of this year.”
View Company Profile