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Resource Clips

Posts tagged ‘Metanor Resources Inc (MTO)’

Sandstorm announces $130M Bought-Deal Financing

August 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSandstorm Gold Ltd TSXV:SSL announced it has increased its previously announced bought-deal financing from C$75 million to C$130 million. Lead underwriter Cormark Securities Inc along with National Bank Financial Inc, Paradigm Capital Inc, BMO Capital Markets Inc, Casimir Capital Ltd, Canaccord Genuity Corp and TD Securities Inc have agreed to buy, on a bought deal basis, 13,050,000 units at C$10 for gross proceeds of approximately C$130 million. Sandstorm has granted to the underwriters an option to buy up to an additional 15% of the number of units. If that option is wholly exercised, the aggregate gross proceeds will be approximately C$150 million. Each unit consists of one common share of Sandstorm and one-third of one common share purchase warrant, which will entitle the holder to acquire one common share of Sandstorm at a price of US$14 up to five years following completion of the offering.

Sandstorm provides upfront financing for gold-mining companies seeking capital in return for agreements giving it the right to buy percentages of life-of-mine gold produced at fixed prices. Sandstorm has completed gold purchase or royalty agreements with Luna Gold Corp TSXV:LGC, SilverCrest Mines Inc TSXV:SVL, Rambler Metals and Mining plc TSXV:RAB, Brigus Gold Corp TSX:BRD, Metanor Resources Inc TSXV:MTO, Donner Metals Ltd TSXV:DON, Magellan Minerals Ltd TSXV:MNM, Solitario Exploration & Royalty Corp TSX:SLR and Ely Gold & Minerals Inc TSXV:ELY. The net proceeds of the offering will be used for general corporate purposes including potential future purchases of precious-metal streams and working capital.

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Nolan Watson

by Kevin Michael Grace

In Both Camps

May 8th, 2012

Amseco pursues Gold and Graphite in Quebec and Ontario

By Greg Klein

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Ask Jean Desmarais to name Amseco Exploration’s TSXV:AEL flagship and the President/CEO replies, “Man, that’s a good question. That’s a very good question. I would say that I have a few of them.” His answer reflects not a lack of focus but rather an abundance of gold and graphite properties in Quebec and Ontario.

Just last month, the company announced a 1,500-metre drill campaign on its Cookie Monster Gold Project, a 50/50 JV with Vantex Resources TSXV:VAX. Located in the prolific Fancamp deformation corridor of north Quebec’s Chapais-Chibougameau region, the 1,445-hectare property’s neighbours include the Monster Lake Project. Last August, while undergoing drilling by Stellar Pacific TSXV:SPX, the property showed results up to 76.53 grams per tonne gold over 2 metres. Then, on April 11, Monster Lake’s current owner, TomaGold TSXV:LOT, hit an intersection of 237.6 g/t gold over 5.7 metres. “Unfreaking believable,” exclaims Desmarais. “The whole region should boom, and I have a property right there.”

Amseco pursues Gold and Graphite in Quebec and Ontario

Quartz veining: At Cookie Monster Gold Project, Amseco's JV with Vantex.

Clearly, Amseco will not abandon gold for graphite, even though the company recently picked up its second set of graphite acquisitions. In March, the company got a 100% interest in the 469-claim, 25,362-hectare Tetepisca properties. The carbon-rich region is accessible by Highway 389 and logging roads, about 25 kilometres from north Quebec’s Manic-Cinq hydroelectric dam and 215 kilometres from the deep-sea port of Baie-Comeau. Other companies in the region include Cliffs Natural Resources CLF, Focus Metals TSXV:FMS and St-Georges Platinum CNX:SX.

“It happens to be a region I know quite well because the First Nations are great friends of mine,” Desmarais explains. “As their mining expert, I represent them in their conflict with the government.”

Amseco had teamed up with St-Georges only two weeks earlier for a 50/50 JV on two packages containing 10,110 hectares of graphite prospects. The Tetepisca West, Canadian Goose and Wooden Lake properties lie in the same region as Tetepisca proper. The Southern Properties consist of the Pike River, Lake 222 and the Polynesian Lake graphite properties, about 120 kilometres from Baie-Comeau. The properties were acquired by staking government lands, thereby avoiding dilution to existing shareholders.

Although graphite stock prices have pulled back since their April highs, Desmarais remains confident about the long-term potential. “I think the next decade will belong to graphite,” he says. “I don’t think it’s just a uranium or lithium play; I think it’s a long-term investment.” The carbon allotrope is currently used primarily in the steelmaking industry but future projections tie it to increasing demand in such energy technologies as fuel cells, solar panels, pebble-bed nuclear reactors, vanadium-redox batteries and lithium-ion batteries. Even discounting next-generation projections, cutbacks in exports from China—which produces about 80% of world supply—will require new mines to open elsewhere.

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