Stock
15 years ago
Titan Uranium Inc. and Uranium Power Corp. Announce Completion of the Business Combination
Press Release
Source: Titan Uranium Inc. and Uranium Power Corp.
On 9:52 am EDT, Tuesday August 4, 2009
Companies:Titan Uranium
SASKATOON, SASKATCHEWAN--(Marketwire - 08/04/09) - Titan Uranium Inc. (TSX-V:TUE - News)(Frankfurt:T4X - News) ("Titan") and Uranium Power Corp. (TSX-V:UPC - News) ("UPC") today announced that on July 31, 2009, they completed a business combination pursuant to a plan of arrangement that was previously announced on May 8, 2009 (the "Plan of Arrangement"). Pursuant to the Plan of Arrangement, Titan has acquired all of the issued and outstanding common shares of UPC. All outstanding options to acquire securities of UPC were cancelled at the effective time of the Plan of Arrangement.
The Plan of Arrangement was approved as a special resolution by the shareholders of UPC at a special meeting of UPC's shareholders held on July 23, 2009 and was approved by the British Columbia Supreme Court pursuant to a final order issued on July 28, 2009. The Plan of Arrangement was also approved by the TSX Venture Exchange and was approved unanimously by the board of directors of both Titan and UPC.
"The closing of the transaction marks a significant milestone for Titan Uranium," stated Brian Reilly, President and CEO. "I would like to welcome the new officers and directors of the company and thank the out-going officers and directors for their contributions. Titan is well-positioned for future growth in the uranium sector."
Under the Plan of Arrangement, each UPC common share was exchanged for 0.5393 common shares of Titan. This resulted in the issuance of 52,980,918 common shares of Titan. There are now 105,962,101 common shares of Titan that are issued and outstanding. Titan shareholders, as they existed immediately prior to such share exchange, and former UPC shareholders each own approximately 50% of the issued and outstanding shares of Titan.
As a result of the Plan of Arrangement, UPC is now a wholly-owned subsidiary of Titan. Effective at the end of the trading day on July 28, 2009, the common shares of UPC were halted from trading on the TSX Venture Exchange pending delisting. Titan common shares remain listed on the TSX Venture Exchange.
Pursuant to the Plan of Arrangement, Mr. Chris Healey, P. Geo, will join Titan as Chief Operating Officer and Mr. Gregory Adams will join Titan as Vice-President Exploration (USA).
In addition, Darren Devine, David D'Onofrio, Lloyd Clark and Philip Olson are resigning from Titan's board of directors (the "Board") and Rahoul Sharan, Richard Patricio and Donald Ching are being appointed to the Board.
Mr. Healey has over 40 years experience in the natural resources industry, specializing in uranium exploration and extraction. Prior to joining Titan, Mr. Healey was the President and a director of UPC and the Chief Operating Officer and director of Cue Resources Ltd. Mr. Healey is also a director of Monster Uranium Corp. and Ansell Capital Corp. Mr. Healey is a former senior employee of Cameco Corporation, where he managed its US operations and was also involved in the discovery and development of two of the largest high grade uranium deposits in the world. Mr. Healey is a past president of the Geological Society of the Canadian Institute of Mining, Metallurgy and Petroleum.
Mr. Adams is a highly experienced uranium geologist with over 35 years of professional and technical experience managing exploration and development functions. During his career in uranium exploration, development and production, Mr. Adams has worked for Exxon Minerals Co. U.S.A., Everest Minerals Corp., Nuclear Electric of Great Britain, and Power Resources Inc. (a Cameco Corporation subsidiary) as a senior geologist and exploration manager. Mr. Adams has an extensive background in both conventional and in-situ recovery uranium mining operations.
Mr. Sharan, C.A., has over 18 years of finance and accounting experience and is a member of the Institute of Chartered Accountants of British Columbia. Prior to joining Titan, Mr. Sharan was the Chairman of the Board of Uranium Power Corp. Prior to joining UPC, Mr. Sharan was a partner of the S&P Group, which specializes in investment financing for venture capital projects, real estate development and construction. Mr. Sharan is also the President of KJN Management Ltd., which provides a broad range of administrative, management and financial services.
Mr. Patricio is the Executive Vice President, Corporate Affairs for Mega Uranium Ltd. and is responsible for merger and acquisition activity, corporate transactions and overall administration. Prior to joining Mega Uranium Ltd., Mr. Patricio practiced law at a top tier law firm in Toronto and worked as in-house General Counsel for a senior TSX listed company. Mr. Patricio is a lawyer qualified to practice in the Province of Ontario.
Mr. Ching is a retired businessman who sits as a corporate board member for several organizations and businesses and acts as a consultant on various projects. Mr. Ching was the President and Chief Executive Officer of AREVA Resources Canada Inc. from January, 2005 to December, 2007 and prior to that was the President and Chief Executive Officer of SaskTel. Mr. Ching has also served as the President of Crown Investment Corporation, as a managing partner in the law firm of Mitchell Taylor Romanow Ching (now Woloshyn & Company) and as Executive Vice President of the Potash Corporation of Saskatchewan. Mr. Ching is a member of the Saskatchewan Bar Association.
Titan would like to thank out-going Chairman and Chief Executive Officer, Mr. Philip Olson, for his contribution to Titan and wishes him all the best in his future endeavours. Titan would also like to thank Darren Devine, David D'Onofrio and Lloyd Clark, the other out-going directors of Titan, for their contribution to Titan. Finally, Titan would like to thank the out-going directors and officers of UPC for their contribution to UPC.
UPC shareholders who have not already done so should submit their completed and executed letters of transmittal and UPC share certificates to Valiant Trust Company as soon as possible to receive the common shares of Titan to which they are entitled pursuant to the Plan of Arrangement. A copy of the letter of transmittal is attached to this release and available on SEDAR at www.sedar.com.
Refer to the business combination agreement between Titan and UPC dated May 8, 2009 and the management information circular of UPC dated June 23, 2009, each available on SEDAR at www.sedar.com, for additional information regarding the Plan of Arrangement and matters related thereto.
Titan Uranium Inc.
Titan is driven by advancing exploration projects to discovery in the proven Athabasca and prospective Thelon basins located in Saskatchewan and Nunavut, respectively. Titan has gained market recognition for its ability to attract strategic partners to participate in exploration on its properties by virtue of its 1.6 million acre land position and its technical expertise. The option agreement participants of Titan include: Japan Oil, Gas and Metals National Corporation (JOGMEC), Vale Exploration Canada Inc. (VEC), and Mega Uranium Ltd. These optionees are expected to contribute $4.7 million in exploration programs managed by Titan in 2009.
This business combination with UPC adds a number of highly prospective properties, mainly in the United States, to Titan's portfolio. Prime among these is a 50% interest in the Sheep Mountain deposit which has an NI 43-101 compliant Inferred Resource (on a 100% basis) of:
4,560,000 tons, average grade of 0.17% eU3O8 (15.6 million lbs contained U3O8)
This resource estimate was reported in a technical report on the Sheep Mountain uranium project, prepared for UPC by Scott Wilson Roscoe Postle Associates Inc. and authored by C. Stewart Wallis, P. Geo. dated October 10, 2006. Additional information including the estimation method and cut-off grade may be found in the report which was filed on SEDAR on October 12, 2006. The Sheep Mountain deposit has a current Mine Permit issued by the Wyoming Department of Environmental Quality. Several minor amendments to this permit will be required to reopen the mine.
http://finance.yahoo.com/news/Titan-Uranium-Inc-and-Uranium-iw-4108968183.html?x=0&.v=1
Stock
15 years ago
Bell Coast Capital Corp Announces Corporate Name Change and New Director
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: BELL COAST CAPITAL CORP.
TSX VENTURE SYMBOL: BCP
MARCH 15, 2005 - 13:04 ET
Bell Coast Capital Corp Announces Corporate Name
Change and New Director
VANCOUVER, BRITISH COLUMBA--(CCNMatthews - March 15, 2005) - Bell Coast
Capital Corp. (TSX VENTURE:BCP) At the Company's AGM on March 14, 2005,
Bell Coast's proposed name change to Uranium Power Corp., was approved.
The company will be applying to the TSX Venture Exchange for the change
in name and trading symbol. The new name and corporate image will better
reflect the Company's direction in the uranium exploration and
development sector.
Bell Coast is pleased to welcome and to announce that Mr. Chris M.
Healey, P.Geo., has been appointed to the Company's Board of Directors.
Mr. Healey brings to the Company a wealth of experience in the natural
resources field. Mr. Healey is a licensed professional geologist in the
State of Wyoming and has over 36 years of experience. Over the past 25
years, he has developed broad experience in the uranium sector. From
1978 to 1999 he worked for Cameco Corporation and its predecessor
company, the world's largest uranium producer. In his 21 years with
Cameco, he held a variety of geological positions in all areas from
initial exploration project generation through to production and was
involved in the discovery of the world's 2 largest high-grade uranium
deposits, Cigar Lake and McArthur River. In particular, he has
specialized in the ISL well field design at the Highland Mine. From 1992
to 1997, he managed Cameco US's operations and was responsible for the
acquisition of several major uranium properties, hosting in excess of 50
million pounds of resources. He has worked extensively on uranium
projects around the world, including Canada, USA, Kazakhstan, Mongolia,
Australia and Malawi.
He graduated from the University of Wales, Swansea, in 1968 with a B.S.
degree in geology. From 1988 to 1989 he served a term as national
president of the Geological Society of Canadian Institute of Mining,
Metallurgy and Petroleum. He has published several scientific papers on
the subject of resource and reserve evaluations.
Mr. Healey's experience and knowledge in the uranium sector will be
instrumental in the successful exploration and development of the Sheep
Mountain Uranium Mine project.
A special resolution was approved at the AGM to alter the Notice of
Articles of the Company to remove the application of the Pre-Existing
Provisions as defined in the Business Corporations Act British Columbia.
The Pre-Existing Provisions in the Notice of Articles of the Company
were deleted, the Company's Notice of Articles altered accordingly.
BELL COAST CAPITAL CORP.
Rahoul Sharan, President
WARNING: The Company relies on litigation protection for "forward
looking" statements. Actual results could differ materially from those
described in the news release as a result of numerous factors, some of
which are outside the control of the Company.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the
United States or to U.S Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from
such registration in available.
-30-
For more information, please contact
FOR FURTHER INFORMATION PLEASE CONTACT:
Bell Coast Capital Corp.
Rahoul Sharan
President
(604) 689-1810
(604) 689-1817 (FAX)
www.bellcoastcapital.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this News
Release.Click here to see all recent news from this company
-------------
Ed Monton
20 years ago
Bell Coast to Commence Drilling on Shadow Mountain
Gold-Copper Geophysical Targets
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 27, 2004) - Mr.
Rahoul Sharan, President of Bell Coast Capital Corp. ("Bell Coast")
(BCP -TSX-V) announces that in April 2004 Insight Geophysics Inc. of
Toronto, was contracted to perform Gradient and Insight Array Induced
Polarization/Resistivity Surveys over the Shadow Mountain Property,
Mongolia. This survey was designed to provide reconnaissance
measurements over the whole grid, and high-density Apparent
Resistivity and Chargeablilty measurements from near surface to a
depth of 400m over subsequently determined areas of interest.
The Tuned Gradient Survey was successful in delineating many areas of
anomalous resistivity and chargeability measurements on the Shadow
Mountain Grid. Upon completion of the gradient survey, a total of 10
Insight Sections were constructed over 7 areas of interest as
determined through the co-operative efforts of Insight Geophysics and
Mr. Ken Thorsen. This collaboration ensured the Insight Sections were
built in areas of both geological and geophysical interest.
The Insight Sections have further delineated the anomalous trends
seen in the gradient data by providing a depth component of the data
set. An interpretation and recommendation for future work has been
included for every Insight Section. Of the 7 zones outlined by the
gradient work, all contain potential for drilling.
As a result of the Insight program, Bell Coast will be commencing a
1500-2000 meter drill program at Shadow Mountain. The program will
include multiple angled diamond drill holes, proposed to test the
targets to depths of 500 meters. Drilling will be conducted by
Can-Asia Drilling of Mongolia, with logistical support supplied by
Mine-Info of Mongolia, and supervision on-site by qualified
geologists. It is anticipated that the drill team will be mobilizing
to Shadow Mountain within the next 2-3 weeks.
BELL COAST CAPITAL CORP.
Rahoul Sharan, President
WARNING: The Company relies on litigation protection for "forward
looking" statements. Actual results could differ materially from
those described in the news release as a result of numerous factors,
some of which are outside the control of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Bell Coast Capital Corp.
Rahoul Sharan
President
(604) 689-1810
(604) 689-1817 (FAX)
Website: www.bellcoastcapital.com
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this News Release.
Tackler
20 years ago
Bell Coast releases Shadow Mountain information
Bell Coast Capital Corp BCP
Shares issued 30,900,356 Jun 21 close $0.11
Tue 22 Jun 2004 News Release
Mr. Rahoul Sharan reports
BELL COAST CAPITAL CORP - MONGOLIA EXPLORATION UPDATE
Bell Coast Capital Corp. has released information on its Mongolian
exploration program consisting of induced polarization surveys over the
buried intrusive on the company's Shadow Mountain property.
The Shadow Mountain prospect, located in the southwest corner of the Gobi
desert, covers approximately 100,000 hectares and is in close proximity to
Ivanhoe mines to the north and east. To date, Bell Coast geologists have
completed surface prospecting, limited shallow drilling, mapping, and
magnetic and induced polarization (IP) geophysical surveys. The exploration
team has observed copper staining and copper mineralization in 10 separate
locations within an east-trending zone that is three kilometres long and
between 200 metres and 300 metres wide. Surface samples collected within
this zone have assayed up to 2.76 per cent copper, 1.64 grams per tonne
(g/t) gold and 0.27 per cent molybdenum. Results from recently completed IP
and magnetic surveys and shallow drilling have yielded several promising
targets.
Insight Geophysics Inc. of Toronto, Canada, has been contracted to conduct
the survey using an innovative, deep penetrating, diagnostic technique
designed by the principles of Insight. The Insight geophysical crew
demobilized from the Shadow Mountain property on June 13, 2004.
While on-site, the crew completed just over 240 kilometres of tuned
gradient IP/resistivity surveying and approximately 17 line kilometres
detailed Insight sections over areas of geophysical and geological
anomalous interest. A total of 9 Insight sections of lengths varying from
1,000 metres to 3,000 metres were constructed on nine separate lines. The
positioning of the Insight sections was determined through the
collaborative efforts of Insight Geophysics geophysicists and Bell Coast
Capital geologists. The Insight sections were placed in areas where the
geophysical responses from the tuned gradient IP/resistivity survey were of
the appropriate signature to indicate the possible presence of an increased
concentration of sulphides subsurface. Further, the placement of the
Insight sections also made use of all geological mapping and knowledge to
insure that the Insight sections were being constructed in areas
appropriate to the properties geological model.
A variety of geophysical targets have been defined by the survey as being
worthy of drill testing. At present, David Dawson (chief geophysicist of
Insight Geophysics) is compiling all the data to produce the final maps in
preparation of writing the final interpretation report. The final
interpretation report will contain a complete geophysical description of
all significant anomalous zones and recommendations on how to best drill
test the targets. Insight will require geological input from Bell Coast
Capital to produce an optimal report.
Bell Coast's exploration programs are under the direction of the company's
two senior geologists, Ken Thorsen, PEng, and Robert Weicker, PGeol
(qualified person). Following the recent surface discovery at Shadow
Mountain, Mr. Thorsen joined the company as a member of the board and
vice-president of exploration. Mr. Thorsen has over 35 years experience in
mineral exploration worldwide. He was formerly the president of Teck
Exploration and has been credited with the discovery of several mines. He
has vast experience in exploration for many commodities, including gold,
silver, copper, zinc, nickel, platinum, palladium, diamonds and uranium,
and has been involved in exploration programs in Mexico, Canada, U.S.,
Peru, Chile, Brazil, Argentina, Venezuela, Australia, China, Africa, Panama
and Central Asia.
Bell Coast has assembled a team of professionals that is familiar with the
geology and operational logistics of Mongolia. Mine Info Inc., a
Mongolian-based exploration team of Soviet-trained geologists, with
regional experience in the South Gobi region, has been retained by the
company on a contract basis to assist in various work programs. The team
can handle multiple functions related to acquisition, evaluation and
exploration with support from the Canadian office. In addition, Bell Coast
maintains an office in Mongolia's capital city, Ulaan Bataar.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
Ed Monton
20 years ago
Get ready for Mongolian Red Metal Mania Part Deux
Bell Coast Capital Corp.-Mongolia Exploration Begins
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Apr 2, 2004) - Bell
Coast Capital Corp. ("Bell Coast") is pleased to announce that a
program consisting of induced polarization surveys over the
buried intrusive on the company's Shadow Mountain Property will
commence early next week.
The Shadow Mountain prospect located in the southwest corner of
the Gobi Desert, covers approximately 100,000 hectares and is in
close proximity to Ivanhoe Mines to the north and east. To date,
Bell Coast geologists have completed surface prospecting, limited
shallow drilling, mapping, and magnetic and induced polarization
(IP) geophysical surveys. The exploration team has observed
copper staining and copper mineralization in ten separate
locations within an east trending zone that is three kilometers
long and between two and three hundred meters wide. Surface
samples collected within this zone have assayed up to 2.76%
copper, 1.64 grams/tonne gold and 0.27% molybdenum. Results from
recently completed IP and magnetic surveys and shallow drilling
have yielded several promising targets.
Insight Geophysics Inc. of Toronto, Canada has been contracted to
conduct the survey using an innovative, deep penetrating,
diagnostic technique designed by the principles of Insight.
Approximately 200 km of surveying will be completed in the
initial phase of the program to cover the intrusive in the
vicinity of the Shadow Mountain Copper-Gold prospect previously
discovered by Bell Coast. The prospect consists of several
surface exposures of porphyry copper-gold style mineralization. A
drill program completed in early 2003 confirmed the style and
highly anomalous nature of mineralization and indicated the
potential for enriched supergene zones in the alluvium covered
areas of the property.
Concurrent with the geophysical program a crew will complete
magnetic surveys, soil geochemical surveys and prospecting and
mapping on the adjacent claim block to follow up three new
copper-gold zones discovered in a recent regional mapping
program. It was also noted that the intrusive that hosts the
original Shadow Mountain Prospect continues onto this adjacent
claim. It is anticipated that the induced polarization survey
will continue over the area of the new showings at the conclusion
of the above mentioned surveys.
Bell Coast's exploration programs are under the direction of the
Company's two senior geologists, Mr. Ken Thorsen, P.Eng., and Mr.
Robert Weicker, P. Geol. (qualified person). Following the recent
surface discovery at Shadow Mountain, Mr. Thorsen joined the
company as a member of the board and Vice-President of
Exploration. Mr. Thorsen has over 35 years experience in mineral
exploration worldwide. He was formerly the President of Teck
Exploration Ltd. and has been credited with the discovery of
several mines. He has vast experience in exploration for many
commodities, including gold, silver, copper, zinc, nickel,
platinum, palladium, diamonds and uranium and has been involved
in exploration programs in Mexico, Canada, USA, Peru, Chile,
Brazil, Argentina, Venezuela, Australia, China, Africa, Panama
and Central Asia.
Bell Coast has assembled a team of professionals that is familiar
with the geology and operational logistics of Mongolia. Mine Info
Inc., a Mongolian based exploration team of Soviet trained
geologists, with regional experience in the South Gobi Region,
has been retained by the Company on a contract basis to assist in
various work programs. The team can handle multiple functions
related to acquisition, evaluation and exploration with support
from the Canadian office. In addition, Bell Coast maintains an
office in Mongolia's capital city, Ulaan Bataar.
BELL COAST CAPITAL CORP.
Rahoul Sharan, President
WARNING: The Company relies on litigation protection for "forward
looking" statements. Actual results could differ materially from
those described in the news release as a result of numerous
factors, some of which are outside the control of the Company.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Bell Coast Capital Corp.
Rahoul Sharan
President
(604) 689-1810 or 1-800-570-8733
(604) 689-1817 (FAX)
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this News Release.
Tackler
20 years ago
Bell Coast Capital acquires five Nevada claims
Bell Coast Capital Corp BCP
Shares issued 30,652,856 Feb 18 close $0.25
Thu 19 Feb 2004 News Release
Also (CAT)
Mr. Rahoul Sharan of Bell Coast Capital reports
BELL COAST CAPITAL CORP RECEIVES REGULATORY APPROVAL FOR NEVADA PROPERTIES
The TSX Venture Exchange has accepted for filing documentation in
connection with an agreement between Bell Coast Capital and Terence M.
Billson whereby the company has acquired an interest in five exploration
properties known as the Copper Basin claims, ICMB claims, Long Peak claims,
Dixie Flats claims and the Hoosac claims, which are all located in Nevada.
The total consideration is $398,540 ($49,500 (U.S.) per property in the
first year), 412,500 common shares (82,500 common shares per property) and
$732,000 in exploration expenses ($492,000 (U.S.) on the Copper Basin
claims, and approximately $120,000 (U.S.) on each of the Long Peak claims
and Dixie Flats claims).
The company has issued 247,500 common shares with a hold period to Feb. 16,
2005, to the vendor. Staccato Gold Resources, Bell Coast's joint venture
partner, holding various interests in the five properties, will be issuing
the vendor the balance of the shares due.
Tackler
20 years ago
Staccato, Bell Coast to develop Nevada gold properties
Bell Coast Capital Corp BCP
Shares issued 25,746,981 Jan 30 close $0.24
Tue 3 Feb 2004 News Release
See (CAT) News Release
Mr. Greg Hryhorchuk of Staccato reports
STACCATO AND BELL COAST CAPITAL FORMALIZE NEVADA AGREEMENT
Staccato Gold and Bell Coast have signed a formal agreement for the joint
development of a suite of five advanced exploration Nevada gold properties
recently acquired from High Desert Mineral Resources Inc., a subsidiary of
Royal Gold Corp.
Two of the properties are subject to joint venture agreements, one with
Barrick Gold Corporation and the other with Newmont Mining Corp. The
remaining three properties are subject to underlying option agreements.
All of the properties are in the highly prolific and highly prospective
Carlin and Battle Mountain/Eureka trends.
Staccato Gold is committed to adding shareholder value through the
acquisition and development of advanced stage, high-quality gold
exploration projects.
"We're pleased to have assembled in a short time such an impressive
portfolio of projects with some of the best partners in the industry," said
Robert Lipsett, president of Staccato Gold. "Each of these properties fits
perfectly our acquisition strategy -- combining the risk management of
advanced-stage projects with the raw potential of world-class locations."
Staccato will assume a majority interest in two of the properties and Bell
Coast will assume a majority interest in three.
Under the terms of the agreement, the joint venture is required to make
annual payments of $55,000 (U.S.) per year and to issue and allot 82,500
shares for each property for four years. Staccato has agreed to make all of
the cash property payments for the first year and will assume cash payments
on a pro rata basis for the ensuing years. Share payments for each of the
properties will be the responsibility of the majority interestholder. Up to
an additional $3-million (U.S.) may be due and payable if any one of the
properties is determined to have a resource of up to three million troy
ounces of gold.
Staccato and Bell Coast will pay a finder's fee in connection with this
transaction, subject to regulatory approval. Staccato will undertake a
financing immediately to advance these projects and to undertake a phase 2
drilling program at its Shebandowan greenstone belt property in Ontario.
A description of the five properties follows:
ICBM
Bell Coast will participate to the extent of a 54-per-cent interest in the
development of the ICBM property and Staccato will participate to the
extent of a 13.5-per-cent interest in the development of the claims through
a newly created US Nevada subsidiary, BH Minerals USA Inc. Barrick Gold is
entitled to participate to the extent of a 32.5-per-cent participating
interest in the further development of the ICBM claims. The ICBM property
is located in the Battle Mountain trend and consists of 65 lode claims
(1,300 acres) on BLM administered lands. Drilling to date has demonstrated
that potentially economic grade mineralization is present and work on the
property includes mapping, sampling, induced polarization and magnetic
geophysical surveys as well as 24 reverse circulation holes and one diamond
drill hole. The next phase of exploration is intended to focus on a
northeast trending structural corridor that extends from the Copper basin
property.
Copper basin
The adjoining Copper basin property consists of 130 lode claims (2,600
acres). The property is being developed under a joint venture agreement
entered into with Battle Mountain Gold Company (a subsidiary of Newmont)
under which Bell Coast will acquire up to a 48-per-cent participating
interest, and Staccato will acquire up to a 12-per-cent participating
interest. The remaining 40 per cent will be retained by Battle Mountain
Gold Company. Application has been made to permit a $375,000 exploration
program on the Copper basin claim for completion in the first half of 2004.
The anticipated program will consist of a maximum of seven reverse
circulation drill holes under the supervision of Charlie Ekburg, a former
staff geologist with Newmont and an in-house geologist that worked on the
Copper basin and ICBM properties in the 90s while the properties were being
developed by High Desert Mineral Resources Inc. Drilling will test the
extension of previously intersected zones (four holes) and an area of a
large, strong magnetic anomaly in an area of intersecting structural
patterns that have not been previously tested (three holes). Drilling is
scheduled to commence when permits are received, which is expected in
March, 2004.
Long Peak
The Long Peak property is located on the Battle Mountain Range in the
Eureka trend and covers the western extension of the magnetic and
structural anomalies noted on the Copper basin property. The property
consists of 42 unpatented mining claims covering 840 acres. Bell Coast will
earn an 80-per-cent interest with the balance (20-per-cent) held by
Staccato.
Hoosac
Staccato will earn an 80-per-cent interest in the Hoosac prospect with Bell
Coast earning a 20-per-cent interest.
The Hoosac property is located in the Battle Mountain Eureka trend and lies
eight kilometres south of Barrick's Ruby Hill Mine. The property consists
of 208 lode claims and comprises an area of over 3,640 acres. Under a
variety of operators including Pathfinder and Cambior, the project has
undergone more than 10,000 metres of drilling. The drilling encountered
widespread alteration and thick intervals of anomalous gold mineralization
ranging upward of 24 metres of 882 parts per billion.
Recent detailed mapping and geochemical sampling has identified mineral
controlling structures on the west side of Hoosac Mountain, never tested by
previous drill hole. A $300,000 (U.S.) drill program planned for 2004 will
focus on drilling these targets.
Dixie Flats
Staccato will earn an 80-per-cent interest in the Dixie Flats prospect with
Bell Coast earning a 20-per-cent interest.
The Dixie Flats prospect is located on the south extension of the Carlin
trend. Royal Gold's Evans mine project lies one mile to the northwest. The
prospect consists of 134 claims under lease plus an additional 1,280 acres
of fee ground. Dixie Flats is an excellent pediment play and was chosen
because of its proximity to Rain, Emigrant Springs and South Bullion
deposits. Twenty-three drill sites have been selected over coincident
geochemical/geophysical anomalies and the potential exists for similar
deposits to the Rain district (over three-million-ounce Au production) or
Gold Quarry (over 15-million-ounce Au production). A $275,000 drill program
is planned for 2004.
Tackler
20 years ago
Bell Coast Capital 3,960,875-share private placement
Bell Coast Capital Corp BCP
Shares issued 25,746,981 Jan 8 close $0.28
Fri 9 Jan 2004 Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect
to a brokered private placement announced Nov. 5, 2003, and Dec. 2, 2003.
No. of shares: 3,960,875
Price: 32 cents per share
Warrants: For 3,960,875 shares
Warrant price: 50 cents for a two-year period
Placees: 57 placees participated
Finder's fee: Canaccord Capital Corp. will receive an 8-per-cent cash
finder's fee and broker warrants in a number equal to
15 per cent of the units sold. The warrants are
exercisable into common shares at 50 cents per share
for a two-year period.
Pursuant to Corporate Finance Policy 4.1, Section 1.11 (d), the company
must issue news announcing the closing of the private placement and setting
out the expiry dates of the hold period(s). The company must also issue
news if the private placement does not close promptly.
Tackler
20 years ago
Amazing bs like this will come up with a quote on IVN... these guys are good.
Magnum Acquires New Porphyry-Copper/Gold Property in South-Eastern Mongolia
Tuesday January 6, 9:30 am ET
TORONTO--(BUSINESS WIRE)--Jan. 6, 2004--Mr. Reno CALABRIGO, President - Magnum d'Or Resources Inc.(OTCBB:MAGR - News) a junior resource exploration Company is pleased to announce that Magnum has acquired an option to earn a 100% interest in the Khol Morit porphyry-copper gold property located west of Ivanhoe Mine's (TSX:IVN - News; Nasdaq:HUGO - News) Turquoise Hill Project in south-eastern Mongolia. Under the terms of the option agreement, Magnum has an exclusive right to earn a 100% interest in the property within a 9-month period through share issuance, a small cash consideration, and an exploratory work program to take place within 9 months.
The Khol Morit property hosts a porphyry copper system with alteration covering 2 square kilometers. In a recent report on the property, it was suggested that due to the effects of surface oxidation and leaching, copper mineralization may be more extensive at depth than at the surface.
GEOLOGY:
On the Khul Morit, a broad zone of quartz-tourmaline breccias roughly 1.4 kilometers long and 500 meters wide overlaps the granodiorite-volcanic intrusive contact. Individual breccia bodies measure up to 500 meters long and 100 meters wide. The breccias contain strongly silicified and sericitized angular clasts of volcanic and plutonic rocks set in a vein matrix of quartz, tourmaline, iron oxides (dominantly hematite), and occasional chrysocolla. A few areas of quartz-FeOx-chrysocolla/malachite veins and stockworks with strong phyllic alteration have been observed near the breccia bodies.
Linear zones of silification with pyrite (oxidized), and quartz veins with and without iron oxides occur south of most quartz-tourmaline breccias and visible surface copper minerals. This alteration is in turn surrounded by a broad 2-km long and 1-km-wide envelope of sericitic and/or argillic alteration. Iron oxide staining, predominantly hematite, is widespread throughout the altered area.
Other areas of copper mineralization and colour anomalies (iron oxides) have been observed in the region surrounding Khol Morit and are to be investigated in the spring.
RESULTS -- ROCK SAMPLES:
Thirty out of 45 grab samples taken at Khol Morit were submitted for analysis to Chemex Labs in Vancouver. Many of the trace elements normally associated with porphyry copper deposits proved to be highly anomalous in the Khol Morit rocks. Out of the 19 samples analyzed for trace elements, copper concentrations ranged up to 1790 ppm (0.18 %), arsenic up to 1990 ppm, and molybdenum up to 48 ppm. Antimony, lead, and zinc were also anomalous, with values of up to 74, 34, and 62 ppm respectively. Gold values were in the 5 to 10 ppb range, or less, one sample analyzed by Dunn yielded 80 ppb.
Copper and arsenic values were highest within quartz-tourmaline breccias: 9 such samples averaged 325 ppm Cu and 425 ppm As. The relatively high As/Cu ratio may be a product of oxidation and leaching during weathering. Little carbonate would be available in the altered rhyolitic host rocks to fix copper in carbonate minerals at the surface (most of the surface copper was in chrysocolla). A sulfide enrichment zone of copper could be expected below the surface.
In addition to the work being carried out on the North Zone and East Zone properties, the Company has been actively pursuing other potential acquisitions in Mongolia. The purchase of the Khol Morit license is the fourth mineral license acquisition for Magnum in the last 10 months, and represents the Company's commitment to enhancing shareholder value through the acquisition of properties that exhibit the potential to hold economic mineralization. The Company will be conducting aggressive work programs on both the north zone/east zone, and Khul Morit properties in the New Year.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Magnum may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
Tackler
21 years ago
Staccato to JV with Bell on Nevada claims exploration
Bell Coast Capital Corp BCP
Shares issued 25,146,979 Nov 26 close $0.35
Thu 27 Nov 2003 News Release
See (CAT) News Release
Mr. Robert Lipsett of Staccato Gold Resources reports
STACCATO & BELL COAST TO EXPLORE NEVADA TOGETHER
On Nov, 7, 2003, Bell Coast Capital had secured an elective option to
acquire an assignment of various interests in seven strategically located
mineral exploration properties located in Nevada.
Of the properties being acquired, four are located on the Battle Mountain
Eureka trend and three are located on the Carlin trend. To date,
assignments of interests in two of the seven properties have been received
and Bell Coast has further elected to receive an assignment on an
additional three properties.
As consideration for each property assigned, Bell Coast is required to make
annual payments of $55,000 (U.S.) per year and issue 82,500 shares of its
capital stock annually for four years. These cash and share payments relate
to a maximum of five properties even if Bell Coast elects to acquire all
seven properties.
Subject to delivery of the balance of the assignments elected to date and
regulatory approval, Bell Coast and Staccato Gold have agreed to jointly
develop the two claim blocks on the following basis:
With respect to the first block of claims involving two properties,
Staccato has agreed to pay 100 per cent of first year exploration costs,
and to pay 100 per cent of the cash and share consideration in the first
year associated with acquiring and maintaining the claims in order to earn
a 80-per-cent interest in the claims. For each property, Staccato will
issue and allot 82,500 shares of its capital stock for four years. In year
two and subsequent years, Bell Coast and Staccato will share cash costs on
a pro rata basis.
With respect to the second block of claims, involving three properties,
Staccato has agreed to pay 100 per cent off the first-year cash
consideration and 20 per cent of the exploration costs in order to earn a
20-per-cent interest in the claims. Bell Coast will issue and allot 82,500
shares of its capital stock for four years. In subsequent years Bell Coast
and Staccato will share cash costs on a pro rata basis.
Should Bell Coast and Staccato elect to acquire the remaining two
properties, they will jointly share maintenance and development costs to
each earn a 50-per-cent interest on a pro rata basis.
Further announcements will be made once this transaction has received
regulatory approval and has closed. This news release was prepared by the
board of directors on behalf of Staccato Resources, which is solely
responsible for its contents.
Tackler
21 years ago
Bell Coast to grant 50% Shadow Mountain stake to Montex
Bell Coast Capital Corp BCP
Shares issued 25,146,979 Nov 19 close $0.36
Thu 20 Nov 2003 News Release
Mr. Rahoul Sharan reports
BELL COAST ATTRACTS MONTEX INVESTMENT AND JOINT VENTURE
Bell Coast Capital has entered into a letter of intent with Montex
Exploration, Inc., to joint venture its Shadow Mountain project in
Mongolia.
The Shadow Mountain project located in the southwest corner of the Gobi
Desert, covers 233,000 hectares and borders Ivanhoe Mines to the north and
east. To date, Bell Coast geologists have completed surface prospecting,
limited shallow drilling, mapping, and magnetic and induced polarization
(IP) geophysical surveys. The exploration team has observed copper staining
and copper mineralization in 10 separate locations within an east-west
trending zone that is three kilometres long and between two and three
hundred metres wide. Surface samples collected within this zone have
assayed up to 2.76 per cent copper, 1.64 grams per tonne gold and 0.27 per
cent molybdenum. Results from recently completed induced polarization and
magnetic surveys and shallow drilling have yielded several promising
targets.
Montex is a mineral exploration company based in London, England, whose
principals have extensive holdings and experience in the resource area.
Montex can earn up to a 50-per-cent interest in the Shadow Mountain project
by undertaking the following:
pay to Bell Coast in cash $125,000 (this has been paid);
contribute $2.4-million over 18 months from today in exploration costs. A
total $1.2-million of this must be spent in the first 12 months and the
balance of $1.2-million must be spent within 18 months. In the event Montex
does not contribute the full amount toward exploration of Shadow Mountain,
its interest will be proportionately reduced, provided a minimum of
$500,000 is spent; and
subscribe for a private placement of Bell Coast common shares (and
warrants) for a minimum of $500,000.
Bell Coast has strategically acquired exploration properties within the
South Gobi region of Mongolia over the past two years. The properties that
have been acquired cover promising geological targets and are strategically
located near other actively explored areas.
Bell Coast's exploration programs are under the direction of the company's
two senior geologists, Ken Thorsen, PEng, and Robert Weicker, PGeol
(qualified person). Following the recent surface discovery at Shadow
Mountain, Mr. Thorsen joined the company as a member of the board and
vice-president of exploration. Mr. Thorsen has over 35 years experience in
mineral exploration worldwide. He was formerly the president of Teck
Exploration Ltd. and has been credited with the discovery of several mines.
He has vast experience in exploration for many commodities, including gold,
silver, copper, zinc, nickel, platinum, palladium, diamonds and uranium,
and has been involved in exploration programs in Mexico, Canada, the United
States, Peru, Chile, Brazil, Argentina, Venezuela, Australia, China,
Africa, Panama and Central Asia.
Bell Coast has assembled a team of professionals that is familiar with the
geology and operational logistics of Mongolia. Mine Info Inc., a
Mongolian-based exploration team of Soviet trained geologists, with
regional experience in the South Gobi region, has been retained by the
company on a contract basis to assist in various work programs. The team
can handle multiple functions related to acquisition, evaluation and
exploration with support from the Canadian office. In addition, Bell Coast
maintains an office in Mongolia's capital city, Ulaan Bataar.
Bell Coast is in the process of evaluating its elective option to acquire
an assignment of variable interests in seven strategically located mineral
exploration properties located in Nevada. Of the properties being acquired,
four are located in the Battle Mountain Eureka trend and three are located
on the Carlin trend.
antman
21 years ago
BCP basing nicely, damn I should have seen that triple coming!
PXI.V increases bought deal to $6 million-
2-3 years ago it was hard to raise a penny for a resource company- now they are throwing millions at you!
---------------------------
Planet Exploration increases financing to $6.02-million
2003-11-04 17:28 ET - News Release
Mr. Ranjeet Sundher reports
PLANET INCREASES BOUGHT DEAL FINANCING
Planet Exploration has agreed, subject to regulatory approval, to increase its bought-deal financing reported in Stockwatch on Nov. 4, 2003, of $5.04-million (3.6 million units) to $6.02-million (4.3 million units). All other terms and conditions of the bought-deal financing remain the same as previously announced.
The units will be sold at a price of $1.40 per unit. Each unit comprises one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $2 for 24 months from closing. If at any time after six months the trading price of the company's shares close at a price equal to, or higher than, $3 per share for a consecutive period of 20 trading days, the company will be entitled to force conversion of the warrants.
Haywood Securities will act as underwriter and will be entitled to receive a 6-per-cent cash commission and compensation options equal to 5 per cent of the number of units sold in the offering, entitling Haywood to subscribe for units at a price of $1.40 per unit exercisable for 24 months from closing. All of the securities will be subject to a four-month hold period in Canada following closing.
Net proceeds will be used to finance exploration on the company's assets, including the Sidace Lake gold project in Ontario, the company's Mongolian and Mexican mineral properties, and for general working capital purposes. The private placement is subject to acceptance for filing by the TSX Venture Exchange.
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
Hot Features
Premium
