Eric Sprott, whose Sprott Hedge Fund increased more than fivefold in nine years, said gold may rise to $1,500 an ounce this year and $2,000 within two years as the U.S. government takes measures to counter the credit crunch. “With quantitative easing and the financial problems we have, I suspect that the gold price goes up from here,” said Sprott. “If you tell me how much quantitative easing there is, I’ll tell you where the gold price will go, but I have no trouble imagining we get to $1,500 this year and to $2,000 in two years.” Sprott said in a Dec. 18 interview that the Standard & Poor’s 500 Index will collapse below its March lows as an expected rebound in economic growth fails to materialize.
|
|||
|
Vancouver, B.C., January 25, 2010 – Newstrike Capital Inc. (NEX: NES.H) (“Newstrike” or “the Company”) – www.newstrikecapital.com – reports that it has completed a non-brokered private placement of 5,000,000 units at a price of $0.40 per unit for cash proceeds of $2,000,000. Each unit is comprised of 0.3 of a common share and 0.7 of a subscription receipt, with each whole subscription receipt exercisable to acquire, for no additional consideration, one common share. $1,400,000 of the $2,000,000 private placement is allocated to subscription receipts, and, subject to receipt of final approval from the TSX Venture Exchange, will be placed into escrow pending conclusion of the Company’s reactivation from the NEX to Tier 2 on the TSX Venture Exchange. A 5% finders’ fee is payable on a portion of the offering. The shares will be restricted from trading for a period of four months from the date of issuance in compliance with TSX Venture Exchange policies and securities legislation. Newstrike also confirms that Gleichen Resources Inc. has announced that it has decided to exercise its right of first refusal in respect of the acquisition of Goldcorp Inc.’s 21.2% interest in the concessions that comprise the Morelos Project in the Guerrero Gold Belt in Mexico. Newstrike had previously entered into a Share Purchase Agreement with Goldcorp in respect of its interest in the Morelos Project, which Agreement was subject to Gleichen’s decision to exercise its right of first refusal. Newstrike has determined that it will continue to move forward to meet its obligations under the Agreement with Goldcorp until such time as Goldcorp and Gleichen have entered into a formal agreement and the acquisition of Goldcorp’s interest by Gleichen has completed.
The Motley Fool sings the praises of Goldcorp stating that “Goldcorp’s position of relative strength among major gold miners has been years in the making and recent strategic moves to build out the company’s production pipeline lay the foundation for a lasting competitive advantage over even traditional gold mining titans like Barrick Gold and Newmont Mining. “
Newstrike Capital has entered into a definitive share purchase agreement to acquire 21.2% of the Morelos Project from Goldcorp. The Morelos Project, together with Goldcorp’s Los Filos Mine, form part of the Guerrero Gold Belt (“GGB”) in Guerrero State. Newstrike controls a 100% interest in 81,330.04 contiguous hectares strategically located within the GGB. The GGB today has an inventory of over 12 million ounces of gold. Newstrike’s management team was instrumental in the discovery of over eight million of those gold ounces.
Source: The Motley Fool
GOLDCORP INC. announced record gold production for the 2009 year of over 2.4 million ounces, exceeding guidance that had been previously revised upward from 2.3 million ounces. Fourth quarter 2009 gold production totaled 601,000 ounces. The Company commented that the Los Filos mine is expected to remain the largest gold producer in Mexico in 2010. The mine will be an important driver of Goldcorp’s growth as commissioning of a crushing and agglomeration plant takes place during the first quarter of 2010. On December 31, 2009, Newstrike announced it has entered into a definitive share purchase agreement dated December 31, 2009 to acquire 21.2% of the Morelos Project from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned subsidiary company of Goldcorp for a purchase price of not less than $52 million comprised of $44.5 million in cash and 15 million common shares in Newstrike. The Los Filos mine and the Morelos Project form part of the Guerrero Gold Belt (“GGB”) in Guerrero State. Newstrike controls a 100% interest in 81,330.04 contiguous hectares strategically located within the GGB. The GGB today has an inventory of over 12 million ounces of gold. Newstrike’s management team was instrumental in the discovery of over eight million of those gold ounces. This gold inventory continues to increase with ongoing exploration and/or mine development by all participants currently active in the area. Source: CNN Money
As 2009 ended, Goldcorp emerged victorious in a takeover battle with Minera Penmont (44 percent owned by Newmont Mining Corporation with the remainder held by Mexican miner Fresnillo Plc.) to acquire Canplats Resources Corp.
The prize was Canplats’ Camino Rojo’s 3,389-square kilometre land position which includes the Represa Deposit; host to 3.44 million ounces of gold and 60.7 million ounces of silver on a measured and indicated resources basis.
Located in Zacatecas State in Central Mexico, Camino Rojo is approximately 50 kilometres southeast of Goldcorp’s Peñasquito mine. The Peñasquito mine will be Mexico’s largest open pit mine once it is completed and commissioned in early 2011. As of December 2008, the deposit contained 17.4 million ounces of gold and 1.05 billion ounces of silver. Annual production over the life of mine (estimated 22 years) is expected to ramp up to approximately 500,000 ounces of gold, 30 million ounces of silver and over 400 million pounds of zinc.
By acquiring Canplats, Goldcorp will be able to benefit from strong synergies between Peñasquito and Camino Rojo, in the areas of human resources, infrastructure and stakeholder partnerships. Goldcorp took a similar strategy when it acquired the El Bermejal Gold Deposit in the Guerrero Gold Belt in the State of Guerrero, Mexico. El Bermejal was located only two kilometres south of Goldcorp’s Los Filos gold deposit. Post acquisition, Goldcorp was able to operate the two open pit mines (Los Filos and El Bermejal) with a common heap leach, wet plant and ancillary facilities.
Newstrike Capital Inc. has the largest property holding in the Guerrero Gold Belt. In addition to its 81,000 hectares of highly prospective mineral claims in the Guerrero Gold Belt, Newstrike recently entered into an agreement to acquire 21.2% of the Morelos Project from a wholly owned subsidiary company of Goldcorp Inc. The Morelos Project is an advanced stage gold exploration property located in Guerrero Gold Belt, approximately 180 km to the southwest of Mexico City. The Morelos Project consists of a group of seven claims, totaling 29,046 hectares. Gleichen Resources Ltd. has recently become operator of the Morelos Project.
NEWSTRIKE CAPITAL SIGNS DEFINITIVE AGREEMENT TO ACQUIRE
21.2% INTEREST IN MORELOS PROJECT FROM GOLDCORP INC.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Vancouver, B.C., December 31, 2009 – Newstrike Capital Inc. (“Newstrike” or the
“Company”) – www.newstrikecapital.com – is pleased to announce it has entered into a
definitive share purchase agreement dated December 31, 2009 to acquire 21.2% of the
Morelos Project from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a whollyowned
subsidiary company of Goldcorp Inc. (TSX:G, NYSE:GG) for a purchase price of
not less than $52 million comprised of $44.5 million in cash and 15 million common
shares in Newstrike.
Closing of the transaction is expected in early 2010 and is subject to receipt of all
required shareholder, regulatory and third party consents, satisfaction of customary
closing conditions and the completion by Newstrike of a financing to raise net proceeds
of $50 million. In addition, Gleichen Resources Ltd. has a right of first refusal in respect
of DMSL’s interest in the Morelos Project, exercisable for 90 days from the date it is
advised of the terms of the Newstrike agreement.
Further particulars regarding the transaction are disclosed in the Company’s December
1, 2009 press release.
About Newstrike (TSX-V NEX:NES.H)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic
mining districts in Mexico. Current management and directors co-discovered Goldcorp’s
and Teck’s significant discoveries in Guerrero Gold Belt in Guerrero State, currently in
advanced stages of exploration and production.
Newstrike holds a 100% interest in certain exploration properties in Mexico located
within two established mining districts; the gold bearing oxidized iron skarn-porphyry
camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of
the mining districts of Oaxaca State.
HEADQUARTERS OPERATIONS
2000 – 1066 West Hastings Street Bosques de Duraznos # 69 P.P
Vancouver, BC Bosques de las Lomas
V6E 3X2 Canada C.P. 11700 Mexico D F, Mexico
T (+1) 604-806-6110 www.newstrikecapital.com T1 (+1) 604-484-8386 VoIP
F (+1) 604-806-6112 T2 (+52) (55) 5251-8957
F (+52) (55) 5245-7491
NES.H – TSXV
For further information, please contact:
Newstrike Capital Inc.
Richard Whittall
Director, President & CEO
Phone: 604-605-4654
website: www.newstrikecapital.com
blogsite: http://newstrikecapital.com/blog
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the
adequacy or accuracy of, this release.
Vancouver, B.C., December 31, 2009 – Newstrike Capital Inc. (“Newstrike” or the “Company”) – www.newstrikecapital.com – is pleased to announce it has entered into a definitive share purchase agreement dated December 31, 2009 to acquire 21.2% of the Morelos Project from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly owned subsidiary company of Goldcorp Inc. (TSX:G, NYSE:GG) for a purchase price of not less than $52 million comprised of $44.5 million in cash and 15 million common shares in Newstrike. Closing of the transaction is expected in early 2010 and is subject to receipt of all required shareholder, regulatory and third party consents, satisfaction of customary closing conditions and the completion by Newstrike of a financing to raise net proceeds of $50 million. In addition, Gleichen Resources Ltd. has a right of first refusal in respect of DMSL’s interest in the Morelos Project, exercisable for 90 days from the date it is advised of the terms of the Newstrike agreement. Further particulars regarding the transaction are disclosed in the Company’s December 1, 2009 press release. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Vancouver, B.C., December 15, 2009 – Newstrike Capital Inc. (NEX: NES.H) (“Newstrike” or “the Company”) – www.newstrikecapital.com – is pleased to announce a non-brokered private placement of up to 5,000,000 units at a price of $0.40 per unit for cash proceeds of up to $2,000,000. Each unit is comprised of 0.3 of a common share and 0.7 of a subscription receipt. Each whole subscription receipt will entitle the holder to acquire, for no additional consideration, one common share of the Company, without further action or payment on the part of the holder, concurrently with the reactivation of the Company as a Tier 2 company on the TSX Venture Exchange (the “Reactivation”). The proceeds from the sale of the subscription receipts will be held in escrow until the Reactivation is completed. In the event that the Reactivation does not occur on or before February 26, 2009, the subscription receipts shall be automatically redeemed by the Company at a price equal to the price paid by the holder plus accrued interest. A 5% finders’ fee may be payable on all or a portion of the offering. The proceeds will be used to pay down existing debt, for general working capital and, after the Reactivation, for exploration expenses. This private placement is subject to regulatory approval, and the shares will be restricted from trading for a period of four months from the date of issuance in compliance with TSX Venture Exchange policies and securities legislation.
About Newstrike (TSX-V NEX:NES.H) Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Current management and directors co-discovered Goldcorp’s and Teck’s significant discoveries in Guerrero Gold Belt in Guerrero State, currently in advanced stages of exploration and production. Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the gold bearing oxidized iron skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of the mining districts of Oaxaca State. For further information contact: Richard O’C. Whittall Chief Executive Officer Phone: 604.604.4654
website: www.newstrikecapital.com blogsite: http://newstrikecapital.com/blog The Guerrero Gold Belt (GGB) is a significant emerging gold mining district hosting a gold bearing iron skarn-porphyry mineralizing system. The district includes Goldcorp’s Bermejal, Nukay and Los Filos deposits, and Gleichen Resource’s Limon-Los Guajes deposit. The GGB has an inventory of approximately 14 million ounces of gold, which continues to increase with ongoing exploration and/or mine development activities. All GGB participants are currently active in the area. Newstrike Capital Inc’s management team was instrumental in the discovery of over eight million of those gold ounces. The following is a history of mining activities with The Guerrero Gold Belt. 1924 Gold was discovered at Xochipala in 1924 by the Franco Urias Family. They operated a small family owned mine and mill until 1988 and a total of 360,000 Au oz were produced. Today, Xochipala remains largely unexplored by modern exploration methods 1938 Minera Guadalupe SA de CV began underground mining of the Nukay gold deposit. Mining operations were interrupted at the beginning of Second World War 1947 The original Nukay Mine went into production in 1947 as a small underground cut-and fill gold mining operation. Gold occurred in what was then described as manto and fissure filling vein deposits and about 500,000 metric tonnes of ore grading 18 gr/ton Au (290,000 Au oz) were extracted between 1947 and 1964 (historical records). 1950-1960’s Several small mining operations begin operating in the area, mostly for epithermal Ag-Pb-Zn from high-grade narrow veins (El Anono, Vianey) and for amethyst and antimony (Rodeo, General). The Todos Santos mine, a disseminated Au-Cu skarn was the first disseminated intrusion hosted gold and copper discovery made. It was drill delineated during this time by Minera Comicosa While grades and reserves for that period are not available, in the last five years of operation Comicosa did extensive exploration in an attempt to delineate sufficient reserves for a 500 tonne per day operation. They developed a non NI43-101 historical resource estimated at 1.5 million tonnes grading 1.5% Cu, 80 g/t Ag and 0.5 g/t Au. It was then that a leaching plant was 1961 Declining head grades and a lower gold price caused operations to cease at Nukay 1983 Minera Nukay SA de CV restarted mining activity at Nukay, initially with underground operations, then open pit mining and the construction of a Merrill Crowe treatment plan The 47,600 hectare Morelos Mineral Reserve is created during the Administration of President Miguel de la Madrid. All claims in good standing in the area, such as where the Nukay, Xochipala and Bermejal projects are currently located, remained in the hands of private owners, as did a few other small internal claims. Industrias Peñoles S.A., a major Mexican mining company acquired rights to the Bermejal area and formed a JV with Newmont Mining. Aggressive exploration was carried out between 1986 and 1993. 1987 Enrique Miranda forms Minera Nukay to expand the original Nukay Mine, then producing 100 tons per day from the underground mine workings. Discovery during road building of high-grade gold skarn mineralization at surface prompted opening of the Nukay open pit. The Peñoles-Newmont JV announces discovery of the Bermejal gold deposit in 1987 but market conditions at the time delay further development. 1993 Minera Nukay is taken over by Miranda Mining Corporation (“MMC”). Mining of the Nukay and La Aguita deposits is by conventional open-pit mining methods utilizing front-end loaders and trucks. Underground mining is carried using traditional cut and fill methods. Ore from the underground mines is trammed to the surface via a 320-metre long adit and trucked to the mill or to a stockpile at the mine site. The concept of the Guerrero Gold Belt (GGB) was conceived of by then MMC chief geologist Alfonso Martinez-Vera. MMC begins the search for a JV partner began in order to develop the larger potential of the region. 1994 Miranda and Teck sign a joint venture to explore and develop the Nukay open pit mine and surrounding claims. The Nukay plant is expanded. The Teck-MMC JV discover skarn and intrusion hosted disseminated gold mineralization at Los Filos from Peñoles-Newmont completes a prefeasibility study on their Bermejal deposit in 1994. Continuing poor market conditions leads to a negative decision and Newmont backs out of the JV. 1995 The Mexican government announces plans to privatize all mineral reserves in Mexico through a lottery process. The Morelos Reserve is later divided into a North and South portion by the government in preparation for sale to multiple bidders. 1998 Miranda and Teck entered into a joint venture agreement to bid on the Morelos National Reserve block which the Mexican Government was privatizing Morelos National Reserve blocks. In July 1998 The joint venture company Minera Media Luna (MML) is successful in acquiring the Morelos North (26,346 ha.) block. Morelos South (16,887 ha.) was awarded to Industrial Minera Mexico, S.A. de C.V. (“IMMSA), a subsidiary of Grupo Mexico, S.A. de C.V. (“GM”), one of the largest mining and railroad companies in Mexico. 1998 to 2002 The Miranda-Teck joint venture continued exploring the GGB, resulting in the discovery of a new iron skarn-gold bearing deposit, El Limón located 15 kilometres north of Los Filos. November 2003 Wheaton River Minerals (Goldcorp) acquired 100% of Miranda Mining Corporation including Teck’s interest in Los Filos and 21.2% of El Limón gold deposit. At the time of acquisition, Los Filos had been explored with over 400 drill holes totaling 90,000 metres of drilling and using a cutoff of 0.5 grams of gold per tonne (“g Au/t”), estimated a measured and indicated resource of 38.4 million tonnes grading 1.44 g Au/t (1.77 million ounces) and inferred resources of 11.0 million tonnes grading 1.35 g Au/t. At El Limón, Teck had completed a resource estimate based on 35 reverse circulation drill holes and 25 diamond drill holes totaling approximately 10,000 metres of drilling. Using a cut off grade of 0.8 g Au/t, inferred resources totaled 15.9 million tonnes grading 3.35. The Nukay operation had produced approximately 90,000 ounces of gold over the last five years at an average cash cost of US$164 per ounce March 2005 Goldcorp Inc. through their Mexican operating arm, Luismin, acquires of the 2.4 million ounce Bermejal Gold Deposit. Bermejal is located 2 kilometres south of Los Filos The immediate proximity to Los Filos will allow the use of a joint processing facility for ore from both deposits May 2005 Aurea Mining Inc (now Newstrike Capital Inc) holder of goes public. The Aurea team includes key players from the former Miranda Mining Corporation (MMC) team including Enrique Miranda as President and CEO, MMC chief geologist Alfonso Martinez-Vera (presently Technical Director, Servicio Geologic Mexican and former president of the Association of Engineer, Metallurgists and Geologists of Mexico) and David Euresti-Reyna. Aurea controls 100% interest in over 81,000 contiguous hectares of highly prospective mineral claims strategically located in the Guerrero Gold Belt. January 2008 Commercial production for Los Filos commenced January 1, 2008. The Los Filos mine consists of two open pit mines (Los Filos and El Bermejal) and underground (which was previously known as the Nukay mine) with common heap leach, wet plant and ancillary facilities. Los Filos is forecast to produce an average of 300,000 ounces of gold per year. Source: Goldcorp August 2009 Gleichen Resources Ltd. entered into an agreement to acquire 78.8% of the Morelos Project including El Limón, from Teck Resources Ltd. December 2009 Newstrike Capital Inc. entered into an agreement to acquire 21.2% of the Morelos Project from Goldcorp Inc. The 21.2% interest is represented by 7.2034% Class A ‘participating’ shares and by 14% Class G ‘carried’ shares in the Morelos Project. Gleichen Resources Ltd. has a right of first refusal in respect of Goldcorp’s interest in the Morelos Project; exercisable for 90 days from the date it is advised of the terms of the Newstrike agreement. |
Translation Tools:
|
||
|
|
|||