You made it. Welcome to the Oasis!
Moggy @ 9:31
LOL! 🙂
San Gold Corp and Kerr Mines Inc Enter into Letter of Intent to Merge Businesses
WINNIPEG, MANITOBA and TORONTO, ONTARIO–(Marketwired – July 21, 2014) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) (“San Gold”) and Kerr Mines Inc. (“Kerr Mines”) (TSX:KER) are pleased to announce that they have entered into a non-binding letter of intent (the “Letter of Intent”) pursuant to which San Gold and Kerr Mines have agreed to merge their respective businesses pursuant to a plan of arrangement (the “Transaction”).
“This combination reflects our new strategy of operating multiple, efficient high grade gold mines that are located in mining friendly jurisdictions. Our operating principles of strict grade control, better cost control, lower overheads and operating the mines at the optimum mining rate to properly match the geometry of the orebodies are paying off at Rice Lake and will be applied to other projects, most notably at the Copperstone gold mine in Arizona. The high grade Copperstone mine will be similar in size to the Rice Lake mine and with the ability to restart quickly with low capital requirements under our combined management team. As well, our large portfolio of advanced gold deposits and projects in the Timmins and Kirkland Lake regions is increased immensely with our ownership in SGX Resources in combination with the current Kerr assets,” said Gestur Kristjansson, San Gold’s President and Vice President Finance.
“It’s important to emphasize the extent to which San Gold has reshaped itself over the past four months. This merger provides an important step toward ensuring the full potential of that effort is realized. With more than one producing mine, San Gold is better positioned to get optimum utilization of the knowledge and skills of the operating team and better diversified use of equipment and infrastructure, resulting in greater efficiencies and lower overall costs,” Mr. Kristjansson, added.
“San Gold has made tremendous strides in its turnaround over the past three months. Greg Gibson and the Kerr team have made important contributions to that turnaround. The next step to creating a mid-tier producer will be applying the same principles to the Copperstone property,” said Stephen McIntyre, Chairman of Kerr Mines.
Under the terms of the Letter of Intent, each Kerr Mines shareholder will be entitled to receive a number of common shares (each, a “San Gold Share”) of San Gold for every common share of Kerr Mines (each, a “Kerr Mines Share”) held by such Kerr Mines shareholder based on an exchange ratio (the “Exchange Ratio”) to be determined by the parties at a later date. Jennings Capital Inc. has been engaged by Kerr Mines and Primary Capital Inc. by San Gold to provide an opinion to the respective Board of Directors of Kerr Mines and San Gold to consider whether the consideration to be received by shareholders under the Transaction, when determined, is fair, from a financial point of view, to the shareholders of each of Kerr Mines and San Gold.
Currently, San Gold has approximately 373 million San Gold Shares outstanding and Kerr Mines has approximately 1.3 billion Kerr Mines Shares outstanding.
Comstock Mining Announces Second Quarter 2014 Results
http://finance.yahoo.com/news/comstock-mining-announces-second-quarter-120100821.html
Nice hit for Pilot Gold
Pilot Gold Reports 1.59 g/t Gold and 0.48% Copper Over 130.9 Metres From Surface at Valley Porphyry Discovery
http://finance.yahoo.com/news/pilot-gold-reports-1-59-103000213.html
Gold Train
Well, then… let’s go cliff-climbing!
Gold Train cliff-climbing on the way to Silverton
in the San Juan Mountains of Colorado.
http://www.railpictures.net/viewphoto.php?id=490663
The bullish power/speed of the Rally
is amazing…the shorts haven’t a chance to cover if they ever tried. They will have to default.
http://www.zerohedge.com/news/2014-07-22/gold-dumped-pre-cpi-and-pumped-post-cpi
It also shows there is only one real seller out there…the Scum.
Well
Now they’ve stuffed us yet again. Looks like the battle is all about $1310 and $21.
An endless supply of fiat and paper contracts goes a long way.
R640 – HO LI SHITE!
As I ws typing my last post someone did some massive short covering in G & S and they’ve gone positive!
Ya gotta be kidding!
R640, Wanka
R640 – yep. DOW to 30K! Unbelievable.
Wanka – I can’t hold a candle to MadMike, besides I really don’t want to make him Mad! Just trying to draw the Farm critter out for some banter. 🙂
Buygold-harken to the the sage advice of the great Don Wolanchuk=
“why should I worry, when there’s an army of professionals out there doing it for me”
So just follow Dons advice and put all your money in some stock etfs..and kick back and relax…
Fa-la-la…summer is come…listen to the chirping of the birds as they flit about the arboreal dell…
Admin; Found key under that rock, I’m in!
Love the wall art & potted plants, sweet digs! Thanks larryc for cleaning the carpets! Blessings to the facilitators of our improved site & best to all members!
-aushux @ State of Jefferson
Royalties
I dont know why TRX calls themselves a Royalty Co,?
but these are the Good ones,FNV,RGLD,SAND,SLW,GRO.V(small)
They typically dont have labor ,energy,problems and are geographically diverse .
Usually very few employees 5-15 and loads of cash !
Juniors
I am down to a few. Â Used to own a bunch. The few include mux, aau, GSv and rby. Â Trx…used to own it…kind of forgot about it. Â Would rather buy gdxj I guess. I got lucky on a few. Ironically one of the better ones I purchased in 1999 thinking it was going to convert to an internet stock. It was not converted….someone came along later and it became a home run gold stock.