MWM
13 years ago
Recent Insider buying
Oct 26/11 Pinetree Capital Ltd. Public market buy Common Shares 0.175 100,500
Oct 25/11 Inwentash, Sheldon Public market buy Common Shares 0.160 1,899,500
Oct 25/11 Pinetree Capital Ltd. Public market buy Common Shares 0.160 1,899,500
Bringing their indirect control of the company to pretty much 30% - 50 million shares:
Inwentash, Sheldon
Latest Filing Date: October 30, 2011
Control or Direction
Common Shares 22,399,500
Warrants 5,000,000
Pinetree Capital Ltd.
Latest Filing Date: October 28, 2011
Indirect Ownership
Common Shares 22,500,000
Warrants 5,000,000
ragmuff
13 years ago
Cream Minerals Reports Drill Results for the Nuevo Milenio Silver-Gold Project, Mexico
Date : 06/21/2011 @ 8:30AM
Source : MarketWire Canada
Stock : Cream Minerals Ltd. (CMA)
Quote : 0.15 0.0 (0.00%) @ 8:38AM
Cream Minerals Reports Drill Results for the Nuevo Milenio Silver-Gold Project, Mexico
Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or
the "Company") is pleased to release assays for an additional five drill holes
from the 2011 exploration program at the 100% owned Nuevo Milenio Silver - Gold
Project. Assays from the five holes announced today along with two assays
announced on March 30, 2011 represent drilling on five sections of Dos Hornos 1.
A total of 13 diamond drill holes including three prospect drill holes have been
completed on Dos Hornos 1. Assays are pending for three additional holes. The
Company is pleased to note that the current drill program results combined with
the results of the 2003 and 2006 drill programs appear to confirm the continuity
of the Dos Hornos 1 structure.
Nuevo Milenio is a low sulphidation, epithermal precious metal prospect
containing silver-gold mineralization in quartz vein quartz stock work zones
within an area of Miocene volcanics in a collapsed caldera structure. Nuevo
Mileno contains a NI 43-101 compliant Inferred Mineral Resource of 54.6 million
ounces silver equivalent contained within 5.09 million tonnes. The average
silver grade is 251 g/t and the average gold grade is 1.66 g/t. For complete
details of the Inferred Mineral Resource see Table - Revised NI 43-101 Report,
dated December 24, 2008 on page three of this news release.
Highlights of the Drill Results
Highlights include significant drill intersections (intersections are drill
widths not true widths)
Section 3: DH 1 - 08 - 11; - Segment One 151.40 g/t Ag and 0.389 g/t Au over
4.60 metres including 184.57 g/t Ag and 0.415 g/t Au over 2.60 metres and,
544.80 g/t Ag and 1.763 g/t Au over 0.60 metres
Section 4a: DH1 - 09 - 11; 105.32 g/t Ag and 0.649 g/t Au over 5.0 metres
including 174.80 g/t Ag and 1.167 g/t Au over 2.0 metres
Section 4a DH1 - 10 - 11; 140 g/t Ag and 0.832 g/t Au over 5.20 metres
including, 206.73 g/t Ag and 1.308 g/t Au over 3.20 metres, and 336.20 g/t Ag
and 1.308 g/t Au over 1.70 metres
ASSAY RESULTS
DDH - 03 refers to holes drilled in 2003, DDH - 06 refers to holes drilled in 2006
Section 1: The objective of DH 1 - 03 - 11 and DH1 -05 -11 was to test the down
dip segment of the mineralized structure between DDH 17 - 03 and DDH 1 - 06. The
drill hole cut a subparallel fault zone of lower grade.
----------------------------------------------------------------------------
Sample From To Intercept Intercept Au Ag
DH 1-03-11 # m m m ft g/t g/t
----------------------------------------------------------------------------
Quartz Vein parallel
to dos Hornos 51792 36.00 38.00 2.00 6.56 0.326 1.60
----------------------------------------------------------------------------
quartz Vein, broken, 51810 78.00 80.00 2.00 6.56 0.202 43.00
----------------------------------------------------------------------------
quartz Vein, faulted,
breccia 51811 80.00 82.00 2.00 6.56 0.044 15.90
----------------------------------------------------------------------------
Fault unknown
----------------------------------------------------------------------------
Fault, Stockwork 51819 96.00 98.00 2.00 6.56 0.07 5.20
----------------------------------------------------------------------------
Fault Stockwork 51820 98.00 100.00 2.00 6.56 0.161 9.00
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Sample From To Intercept Intercept Au Ag
DH 1-05-11 # m m m ft g/t g/t
----------------------------------------------------------------------------
qtz vein 51880 4.00 5.20 1.20 3.936 0.12 28.20
----------------------------------------------------------------------------
qtz vein 51887 49.00 49.80 0.80 2.624 0.009 25.50
----------------------------------------------------------------------------
51888 49.80 50.50 0.70 2.296 0.100 43.20
----------------------------------------------------------------------------
qtz vein 51902 165.50 167.50 2.00 6.56 0.025 18.10
----------------------------------------------------------------------------
Section 3:
Shaft 5 with 3 sublevels is an old Spanish working that has been employed to
explore the near surface portion of Dos Hornos 1. The sublevels are an average
of 1.30 metres wide, 20 to 30 metres long, and 7 metres apart. DH1-01-11 and
DH1-08-11 were drilled to test the down dip segment between Surface and DDH
02-06 (Roca twin hole NM 01-10) and between DDH 02-06 and DDH 03-06.
----------------------------------------------------------------------------
Sample From To Intercept Intercept Au Ag
DH 1-08-11 # m m m ft g/t g/t
----------------------------------------------------------------------------
Segment 1
----------------------------------------------------------------------------
Weighted
average 52028 - 42 163.50 190.80 27.30 89.54 0.111 56.51
----------------------------------------------------------------------------
including 52031 - 39 169.70 184.80 15.10 49.53 0.186 88.63
----------------------------------------------------------------------------
including 52031 - 36 169.70 178.80 9.10 29.85 0.229 95.98
----------------------------------------------------------------------------
including 52031 - 35 169.70 176.80 7.10 23.29 0.285 114.02
----------------------------------------------------------------------------
including 52033 - 35 172.20 176.80 4.60 15.09 0.389 151.40
----------------------------------------------------------------------------
including 52033 - 34 172.20 174.80 2.60 8.53 0.415 184.57
----------------------------------------------------------------------------
including 52033 172.20 172.80 0.60 1.97 1.763 544.80
----------------------------------------------------------------------------
Segment 2
----------------------------------------------------------------------------
weighted average 52049 - 52 202.80 208.80 6.00 19.68 0.300 56.97
----------------------------------------------------------------------------
including 52051 - 52 205.94 208.80 2.86 9.38 0.542 92.04
----------------------------------------------------------------------------
including 52051 205.94 206.80 0.86 2.82 1.307 137.50
----------------------------------------------------------------------------
Segment 3
----------------------------------------------------------------------------
Weighted average 52056 - 58 217.50 223.50 6.00 19.68 0.055 33.26
----------------------------------------------------------------------------
Section 4a:
DH1 - 09 - 11, DH1 -10 - 11 and DH1 - 11 -11 were located to follow up on
Section 4 which was drilled in 2006 at N37E. The object was to show continuity
of the mineralized structure within the foot wall of the N70E/60S fault
structure. All three holes intercepted the mineralized structure. Samples from
DH1 -11 -11 gave been sent for assaying.
----------------------------------------------------------------------------
Sample From To Intercept Intercept Au Ag
DH 1-09-11 # m m m ft g/t g/t
----------------------------------------------------------------------------
Weighted
Average 52084 - 91 29.00 45.70 16.70 54.78 0.447 59.60
----------------------------------------------------------------------------
Qtz Stockwork 52086 -91 33.00 45.70 12.70 41.66 0.566 73.82
----------------------------------------------------------------------------
Vein 52087 -91 35.50 45.70 10.20 33.46 0.7053 91.91
----------------------------------------------------------------------------
Vein 52087 -88 35.50 39.00 3.50 11.48 1.128 117.40
----------------------------------------------------------------------------
Fault zone 39 40.7 1.7 5.58 No Core
----------------------------------------------------------------------------
Vein 52089 -91 40.70 45.70 5.00 16.40 0.649 105.32
----------------------------------------------------------------------------
Vein 52091 43.70 45.70 2.00 6.56 1.167 174.80
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Sample From To Intercept Intercept Au Ag
DH 1-10-11 # m m m ft g/t g/t
----------------------------------------------------------------------------
Quartz vein 52096 11.50 13.50 2.00 6.56 0.052 52.10
----------------------------------------------------------------------------
weighted
Average 52108 - 18 131.00 151.70 20.70 67.90 0.220 52.13
----------------------------------------------------------------------------
Qtz Veins
+Stockw 52115 - 18 144.50 151.70 7.20 23.62 0.601 101.30
----------------------------------------------------------------------------
52115 - 17 144.50 149.70 5.20 17.06 0.832 140.26
----------------------------------------------------------------------------
Qtz vein 52115 - 16 144.50 147.70 3.20 10.50 1.308 206.73
----------------------------------------------------------------------------
Including 52116 146.00 147.70 1.70 5.58 2.420 336.20
----------------------------------------------------------------------------
Quartz
veining 52131 0.00 222.20 222.20 728.816 0.057 16.00
----------------------------------------------------------------------------
Revised NI 43 -- 101 Report, dated December 24, 2008 by F. Holcapek, P. Eng.
----------------------------------------------------------------------------
Dos Hornos Width Au Ag Au Ag
(U/G) m Tonnes g/t g/t oz oz
----------------------------------------------------------------------------
Dos Hornos
Segment 1 4.70 1,173,901.56 1.500 165.34 59,400.00 6,552,238.85
----------------------------------------------------------------------------
Dos Hornos
Segment 2 4.06 746,528.32 1.770 201.95 42,390.25 4,847,215.70
----------------------------------------------------------------------------
Veta Tomas 5.09 1,246,162.50 1.280 351.19 51,344.17 14,070,467.48
----------------------------------------------------------------------------
Once Bocas 2.42 1,921,162.50 1.920 252.59 118,347.79 15,602,012.74
----------------------------------------------------------------------------
Total 5,087,754.88 1.660 251.09 271,482.21 41,071,934.77
----------------------------------------------------------------------------
Tonnes: 5,088,000 Ag: 251.09 g/t, Au: 1.660 g/t. Ag: 41,072,000 oz, Au: 271,500 oz.
Silver Equivalent (Gold - Silver price Ratio = 50:1): 54,647,000 oz (assumes
100% recovery)
ABOUT THE 2011 DRILL PROGRAM
The 2011 drilling program is comprised of 10,000 metres with an option for an
additional 10,000 metres. The majority of the first 10,000 metres is comprised
of in-fill drilling intended to accumulate sufficient data to upgrade the
Inferred Mineral Resource. In addition at Once Bocas, drilling will be conducted
to define the 100 metre wide quartz vein/quartz stockwork zone including in-fill
drilling to delineate the potential of the higher grade vein structures at
depth. Some step out drilling will be conducted to test known extensions of Once
Bocas North, Once Bocas South, Chacuaco and Cafetel's open pit and underground
potential.
Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream
Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo
Milenio Project. He is responsible for all technical reporting and is the
Company's "Qualified Person" for the purpose of National Instrument NI 43-101.
Cream Minerals is a silver-gold exploration company. The Company's flag ship
project is the Nuevo Milenio silver - gold project in Nayarit State Mexico. To
learn more about Cream Minerals please click here: www.creamminerals.com.
This news release contains "forward-looking information" within the meaning of
applicable Canadian securities regulations and including "forwarding-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995. This forward-looking information is made as of
the date of this News Release and except as required under applicable securities
legislation, the Company does not intend and does not assume any obligation to
update this forward-looking information. Forward looking information is based on
management's current expectations and beliefs and is subject to a number of
risks and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Forward-looking
information in this News Release includes, but is not limited to the planned
drilling program on the Nuevo Milenio project and the Nuevo Milenio project's
estimated mineral resource. Forward-looking information is based on a number of
assumptions which management believes are reasonable including that equipment,
personnel and approvals will be available when required to complete the planned
drilling program, that no disruption to the program will occur as a result of
breakdown, labour disputes, or natural hazards, that the assumptions underlying
the inferred resources estimate are valid, including but not limited to the
projected future prices of silver and gold, continuity of mineralization and
grades, and expected recovery methods and rates. Factors which could cause
actual results to differ materially from current expectations include, but are
not limited to: the risk that actual results of exploration activities will be
different than anticipated, that cost of labour, equipment or materials are more
than expected, that the future price of silver and/ or gold will differ
materially from those implied or estimated, that Canadian / US dollar exchange
rates vary in a manner that has a negative effect on the resource estimate,
unanticipated delays in obtaining governmental approvals or required financing;
that changes in project parameters result in increased costs, of unexpected
variations in mineralization, grade or recovery rate and other factors on which
the mineral resource estimate is based, of failure of equipment or processes to
operate as anticipated, of accidents, labour disputes and other risks generally
associated with mineral exploration and development; a deterioration in general
economic conditions; and changes in laws, rules and regulations applicable to
Cream and the Nuevo Milenio project.
CAUTIONARY NOTE TO U.S. READERS REGARDING MINERAL RESOURCES
The United States Securities and Exchange Commission ("SEC") allows mining
companies, in their filings with the SEC, to disclose only those mineral
deposits they can economically and legally extract or produce. The Company uses
certain terms in this document, such as "mineral resources", and "inferred
resources" that are recognized and mandated by Canadian securities regulators
but are not recognized by the SEC. U.S readers are cautioned that while the term
'inferred resource' is recognized and required by Canadian regulations, the SEC
does not recognize it. "Inferred resources" have a great amount of uncertainty
as to their existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of feasibility or
pre-feasibility studies, except in rare cases. U.S. readers are cautioned not to
assume that part or all of an inferred resource exists, or is economically or
legally mineable.
MWM
13 years ago
Cream Minerals Ltd. Announces $5,000,000 Bought Deal Private Placement Offering, Allows Minco Offer to Expire
--------------------------------------------------------------------------------
Vancouver, BC - December 8, 2010 - Cream Minerals Ltd. (TSX-V - CMA) ("Cream" or the "Company") announces that it has entered into an agreement with PowerOne Capital Markets Limited (the "Underwriter"), to act as sole underwriter on a bought deal basis, for a brokered private placement (the "Offering") of 31,250,000 units (the "Units") at $0.16 per Unit for aggregate gross proceeds to the Company of $5,000,000 with an over-allotment option exercisable by the Underwriter in its sole discretion at any time before the closing date of the Offering (the "Closing Date") to increase the size of the Offering by up to $1,000,000.
Each Unit will consist of one common share of the Company (a "Common Share") and one common share purchase warrant of Cream (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share of the Company at an exercise price of $0.24 per Common Share for a period of 24 months from the Closing Date. However, if after four months and one day following the Closing Date, the Common Shares of the Company close on the TSX Venture Exchange at a price in excess of $0.60 per Common Share for 20 consecutive days, the Company will be able to accelerate the expiry of the Warrants to the date that is 30 days after notice of the new expiry date is provided to the holders of the Warrants.
The net proceeds from the Offering will be used by the Company for exploration of its natural resource properties and general and administrative expenditures.
In connection with the Offering, a cash commission of 8% of the aggregate gross proceeds arising therefrom will be paid to the Underwriter. In addition, upon closing of the Offering the Underwriter will receive such number of warrants (the "Compensation Warrants"), equal to 10% of the total number of Units issued in connection with the Offering. The Compensation Warrants will be exercisable at a price of $0.16 per Compensation Warrant for a period of 24 months from the Closing Date to acquire one Unit.
The private placement is subject to the approval of the TSX Venture Exchange. Securities issued in the Offering will be subject to a four month hold period in Canada. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to, or for the account or benefit of U.S. persons, absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Minco Offer
Cream has elected to allow the partial purchase, option and joint venture offer received from Minco Silver Corporation in respect of Cream's Nuevo Milenio project to expire. As previously announced, Minco had agreed to leave its offer open for acceptance for one day following the expiry of the unsolicited bid for Cream made by Endeavour Silver Corp. That bid expired, without any take-up of shares by Endeavour, on December 6, 2010.
For further information, please contact:
Michael E. O'Connor
President & CEO
Robert Paul
Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: info@creamminerals.com
MWM
13 years ago
Endeavour Silver's Revised Takeover Bid for Cream Minerals Expires; Endeavour Invites Cream to Enter Into an Option and Joint Venture Agreement to Explore the Nuevo Milenio Property
Dec 7, 2010 9:04:00 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2010) - Endeavour Silver Corp. ("Endeavour") (TSX:EDR)(NYSE Amex:EXK)(DBFrankfurt:EJD) announces that its revised takeover bid dated November 18, 2010 (the "Offer") to acquire all of the issued and outstanding common shares ("Shares") of Cream Minerals Ltd. ("Cream") expired today.
Since the conditions to the Offer were neither satisfied nor waived, Endeavour has terminated its Offer and will not be taking up any Cream Shares tendered under the Offer. Accordingly, all Shares tendered under the Offer will be returned immediately to depositing Cream shareholders.
Given that both Cream and its shareholders appear to prefer a property deal, Endeavour has invited Cream to consider an option and joint venture agreement (the "Proposal") to explore the Nuevo Milenio property. Endeavour's Proposal is similar to the option and joint venture offers made to Cream previously by both Minco and Endeavour, but on improved terms as follows;
1. Endeavour to pay Cream $5 million cash for 50% interest in Nuevo Milenio
2. Endeavour to provide a firm commitment to spend $1.5 million on
exploration on the property in the first 12 months after signing a
formal joint venture agreement in order to earn an additional 1%
interest in the property for a total interest of 51%
3. Endeavour will have an option to spend a further $3.5 million over a
further 2 years on exploration on the Nuevo Milenio property
4. Once Endeavour has spent $5 million on exploration on the property,
Endeavour will have an option to pay an additional $2.5 million cash in
order to earn a further 19% interest in Nuevo Milenio for a total
interest of 70%.
Endeavour's Proposal is subject to the following conditions:
1. Our respective Boards to approval this transaction
2. Cream and Endeavour to execute a formal agreement
3. TSXV to approve the transaction for Cream
4. Cream to grant Endeavour exclusivity until the formal agreement is
signed wherein Cream will not solicit any other offers for the Nuevo
Milenio property, Cream de Mexico or Cream Minerals
5. Cream does not have to make any representations or guarantees regarding
the resources contained in the NI 43-101 report
6. Cream represents that all property taxes and fees for Nuevo Milenio are
fully paid and up to date
Bradford Cooke, Chairman and CEO, commented, "When we launched our initial takeover bid for Cream two months ago, it was on the premise that Cream shareholders should have a say in determining the future of their Company and its Nuevo Milenio property in Mexico. Although we expected a more positive response from Cream shareholders to our takeover bids, we respect the majority's decision not to tender and their desire to remain independent at this time."
"Since Cream's Board has stated publicly that they prefer a joint venture for the Nuevo Milenio property, Endeavour is willing to proceed with Cream on that basis. We look forward to hearing back from Cream's Board this week regarding our new joint venture Proposal."
Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted five consecutive years of growing silver production and resources. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.
MWM
14 years ago
Pinetree Capital Ltd. Acquires Securities of Cream Minerals Ltd.
Tuesday, 16 November 2010
Pinetree Capital Ltd. (TSX:PNP), announces that through a series of transactions ending on November 12, 2010, it acquired ownership of 2,908,500 common shares ("Common Shares") of Cream Minerals Ltd. ("Cream") through the facilities of the TSX Venture Exchange, representing approximately 3.0% of the total issued and outstanding common shares of Cream as of November 12, 2010. As a result of this transaction, Pinetree held, as at November 12, 2010, an aggregate of 8,908,500 common shares of Cream, including the Common Shares and rights to acquire an additional 2,000,000 common shares of Cream upon exercise of certain convertible securities (the "Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represent a total of 10,908,500 common shares of Cream, or approximately 11.2% of all issued and outstanding common shares as at November 12, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Cream depending on market conditions or any other relevant factor.
Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are publicly-traded on the Toronto Stock Exchange ("TSX") under the symbol "PNP". Pinetree is a diversified investment and merchant banking firm focused on the small cap market. Pinetree's investments are primarily in the resources sector: Uranium and Coal, Oil & Gas, Precious Metals, Base Metals and Potash, Lithium and Rare Earths. Pinetree's investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities.
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
Pro-Life
12 years ago
Hot Features
Premium
