Headline News
Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) has
announced that its Board of Directors has approved the redemption
of the rights accompanying its outstanding common stock under its
Shareholder Rights Plank.
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Mega Precious Metals Inc. (MGP:TSX-V) reports that 2,154,587 common
shares of Mega and warrants to purchase up to an aggregate of 222,750
common shares of Mega will be released from escrow as a result of
Mega’s previously-announced graduation to Tier 1 issuer status on
the TSX Venture Exchange.
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Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to
report that it has signed a Letter of Intent with Silver America Inc.
(OTCBB - SILA) for the option to earn a 90% interest in Yale’s wholly
owned Guadalupe Property located in Zacatecas State, Mexico.
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Mr. David Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM)
reports that optionee Pan American Silver Corp. has elected not to exercise its
option to acquire a 70% interest in the Regalo property in Chubut Province, Argentina,
leaving Pacific Bay with an undivided, royalty free 100% interest in the claims,
which are highly prospective for uranium and gold mineralization.
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White Tiger Mining Corp. reports that it has signed a letter of intent with Rainy
Mountain Royalty Corp. of West Vancouver, BC and Marshall Lake Mining PLC of London,
England (MLM PLC) to acquire up to a 50% joint venture interest in Rainy Mountain’s
and MLM PLC’s Marshall Lake project located in Ontario.
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Scorpio Gold Corporation (TSX-V: SGN) has announced that in connection with its previously
announced private placement, the Company and the syndicate co-led by Thomas Weisel Partners
Canada Inc. and Industrial Alliance Securities Inc., and including Mackie Research Capital
Corporation (collectively, the “Agents”) have agreed to increase the size of the offering
by C$1 million to up to C$11 million of units (the “Units”).
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NovaGold Resources Inc. (NYSE-AMEX: NG, TSX: NG) has announced that it is proposing to
issue 13,636,364 common shares of the Company at a price of US$5.50 per common share for gross
proceeds of US$75,000,002 (the “Soros Offering”) to Quantum Partners Ltd., a private investment
fund managed by Soros Fund Management LLC.
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Essar Group through its subsidiary Essar Minerals, Delaware, and Denham Capital, an energy-
and commodities-focused global private equity firm, has announced a definitive agreement by which
Denham will sell its ownership of Trinity Coal to Essar for US $600 million.
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NovaGold Resources Inc. (NYSE-AMEX: NG, TSX: NG) has announced that
it is proposing to issue 18,181,818 common shares of the Company at a
price of US$5.50 per common share for gross proceeds of US$99,999,999
to several investment funds managed by Paulson & Co. Inc.
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Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) has provided
updates on the Pirquitas Mine and principal development projects and
reports on headline financial results from the company’s fourth quarter
of 2009.
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Emgold Mining Corporation recently completed a 10:1 consolidation
of the Company’s share structure.
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05: HudBay LOI With VMS Ventures
HudBay Minerals Inc. (TSX:HBM) has announced it has, through a subsidiary,
entered into a non-binding letter of intent with VMS Ventures Inc. (“VMS”)
(TSX VENTURE:VMS) respecting HudBay’s copper-rich Reed Lake property in
Manitoba’s Flin Flon Greenstone Belt, which is presently under option
to VMS, the two southern claims immediately adjacent to the Reed Lake
property as well as certain other adjacent exploration properties,
which are held by VMS.
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Bayswater Uranium Corporation (TSX-V: BYU), (OTC: BYSWF) reports that
the Company has arranged a US$20,000,000 financing with the Pacific Road
Resources Funds (“PRRF”) with the assistance of its financial advisor,
Ricardo Campoy, and separately a CDN$4,500,000 financing with M Partners
Inc. (“M Partners”), all for the purpose of completing the acquisition of
a 100% interest in the Reno Creek Property (the “Property”).
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Coral Gold Resources Ltd. reports that it has arranged a Non-Brokered
Private Placement of up to 5,000,000 units at a price of $0.55 per unit,
each unit consisting of one common share and one non-transferrable share
purchase warrant.
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Robex Resources Inc. (TSX-V: RBX / FWB: RB4) has announced that it
has entered into a confidentiality agreement with a group of European
financiers represented by Mr. Didier Som Yanga.
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David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)
(FRANKFURT:C1J), has reported that the Company has raised $1,683,500 through
the issuance of 13,468,000 Units at a price of $0.125 per Unit.
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Orocobre Limited (ASX: ORE) has announced the appointment of John W.
Gibson as a Non-Executive Director of the Company.
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