Newstrike Capital Inc. (“Newstrike” or the “Company”) – is pleased to announce it has entered into an agreement dated February 11th, 2010 to acquire a 100% interest in certain mining concessions situated in Guerrero State, Mexico, referred to as the “Ana Paula Properties” from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned subsidiary company of Goldcorp Inc. (TSX:G, NYSE:GG).
As consideration for the Ana Paula Properties, Newstrike will pay to DMSL the amount of CAD$1.5 million in cash and a number of common shares in Newstrike that is equal to CAD$600,000, such shares to be issued at a price that is based on the volume weighted average trading price of the shares of Newstrike on the TSX Venture Exchange for the 20 consecutive trading days ending on the trading date prior to the issue date.
Located within the Guerrero Gold Belt, the Ana Paula Properties consist of four claims that in total aggregate 7,622 hectares (ha). The most advanced of these claims has been subject to 3,689 metres of drilling by Goldcorp.
Richard Whittall, President & CEO of Newstrike, commented: “We are pleased to extend our strategic footprint within the Guerrero Gold Belt. The acquisition of Ana Paula certainly complements our 81,000 hectares of highly prospective mineral claims in the immediate area. Our management team is very familiar with Ana Paula’s geological setting and we look forward to advancing the work conducted by Goldcorp to date.”
Closing of the transaction is expected in April 2010 and is subject to receipt of all required shareholder, regulatory and third party consents, satisfaction of customary closing conditions
Vancouver, B.C., February 24, 2010 – Newstrike Capital Inc. (TSX-V: NES) (“Newstrike” or “the Company”) – www.newstrikecapital.com – today announced that its common shares will be listed on the TSX Venture Exchange (“TSXV”) with effect as of Wednesday, February 24, 2010. The Company has met the requirements to list its common shares on the TSXV as a Tier 2 mining issuer, and the reactivation from the NEX to the TSXV has been approved. The Company’s common shares will commence trading on the TSXV effective at the opening of the TSXV on Wednesday, February 24, 2010 under the symbol “NES”.
In conjunction with the reactivation, Newstrike announces that the TSXV has accepted for filing the Company’s September 30, 2009 technical report entitled “Geological Report and Summary of Field Examinations, Aurea Norte Project, Municipalities of Apaxtla, Cocula and Cuetzala del Progreso, Guerrero State, Mexico” (the “Technical Report”). The Technical Report, authored by R.A. Lunceford, M.Sc., CPG, was prepared in respect of the Aurea Norte property, owned 100% by Minera Aurea, S.A. de C.V., the Company’s indirect wholly-owned subsidiary. The Technical Report includes a recommended work program in respect of the Aurea Norte property with a proposed budget of $700,000. A copy of the Technical Report has been filed on SEDAR under Newstrike’s profile.
In conjunction with the reactivation, an aggregate of 3,500,000 common shares of Newstrike were issued pursuant to the terms of subscription receipts issued as a part of Newstrike’s private placement which closed January 20, 2010. Upon issuance of such shares, an aggregate of $1,400,000, plus interest, was released to Newstrike from escrow. The Company intends to use the net proceeds of from the subscription receipts to fund the work program outlined in the Technical Report and for working capital purposes.
Following completion of the reactivation and the issuance of shares pursuant to the subscription receipts, Newstrike has 67,012,877 shares outstanding.
About Newstrike (TSX-V:NES)
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
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.
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.
Speaking at the World Economic Forum in Davos, the Barrick chairman of the the world’s biggest gold producer commented that while the gold price may be volatile, its upward climb is not over. ”It may fluctuate, (but) to us and I think to our investors, the key criteria should be that it’s got a secular tendency now to move up year in and year out” said Peter Munk. ”While it may trade off in the two-week or three-month period, I think the trend is here to stay.”
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.
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
With bullion process hovering around near record levels, senior global gold miners are on prowl, competing amongst each other for established and emerging projects containing gold, copper and silver.
The world’s largest gold producer, Barrick Gold Corp. and other large miners are pursuing copper-gold projects and gold-silver projects, as pure gold plays become scarce, said Barrick spokesman Vincent Borg. “The reality is the world is pretty much explored in terms of pure gold deposits, so what people are looking for today are called gold- copper porphyries, where the copper comes with the gold, or multi- mineral deposits,” he said.
Last week, Goldcorp Inc. entered into the midst of Barrick’s deal to buy mining giant Xstrata PLC’s 70 per cent share of the El Morro Chilean copper-gold project. Goldcorp made an arrangement with New Gold, which owns the other 30 per cent of the project, with US$463 million to exercise their first, right of refusal and buy out Xstrata’s stake in the project, then sell Goldcorp a 70 per cent interest. Barrick may still return to the fray by making another bid for the El Morro project. Goldcorp’s actions follow on the heels of a successful bidding war with Minera Penmont for control of Canplats Resources Corp.’s Camino Rojo gold and silver discovery in Mexico.
Andre Hidi, head of global mergers and acquisitions at BMO Capital Markets, predicted an acceleration of M&A activity in the mining sector throughout 2010. Scotiabank vice-president and commodities specialist Patricia Mohr commented that because the potential for new gold projects is limited, large companies are keen to acquire projects from junior miners, which is often the most cost-effective way of doing business for both players. Though seniors are seeking large gold deposits, there are also seeking them to be located jurisdictions such as Chile and Mexico, which are perceived to be friendly towards mining.
To help position themselves to aggressively pursue acquisitions, senior producers are also rationalizing their portfolios, both to focus on larger projects and in the case of Teck Resources Limited, to reduce debt obligations. This allows opportunities for junior companies to pick up attractive assets.
Newstrike Capital Inc. announced it has entered into an agreement to acquire 21.2% of the Morelos Project from of Goldcorp. Earlier, Gleichen Resources had acquired the acquisition of 78.8% of the Morelos Project from Teck. The Morelos Project is located in the Guerrero Gold Belt (“GBB”) in the State of Guerrero, Mexico, north of Acapulco City. 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 inventory continues to increase with ongoing exploration and mine development by all participants currently active in the area. In addition to the proposed acquisition from Goldcorp, Newstrike control the largest land position in the GGB, a 100% interest in 81,330.04 contiguous hectares.
Source: Winnipeg Free Press
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.
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