JonnyRBuck12
11 months ago
Aloro Mining receives 30-day extension for financing
2023-05-24 11:17 ET - News Release
Mr. Thomas Doyle reports
ALORO ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
The TSX Venture Exchange has granted a 30-day extension to Aloro Mining Corp. for completion of its non-brokered private placement, previously announced in its news releases of March 20, 2023, and May 9, 2023.
The terms of the Offering provide for the issuance of up to 10,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share in the capital of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable into one additional Share at a price of $0.15 per Share for a period of two years from the closing date. The Company closed a first tranche of the Offering on May 9, 2023 and issued an aggregate of 2,600,000 Units for gross proceeds of $130,000.
The Company intends to use the proceeds from the Offering for exploration work, including drilling on its recently acquired Quitovac Mine Project, and for general working capital purposes. Finder's fees or brokers' commissions may be paid in accordance with Exchange policies.
All securities will be subject to a four-month hold period from the closing date. The Offering is subject to Exchange approval.
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.
JonnyRBuck12
11 months ago
Aloro Mining closes $130,000 first tranche of financing
2023-05-09 15:50 ET - News Release
Mr. Thomas Doyle reports
ALORO ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
Aloro Mining Corp. has completed a first tranche of its previously announced non-brokered private placement, as described in its news release dated March 20, 2023, pursuant to which it has issued an aggregate of 2.6 million units at a price of five cents per unit for gross proceeds of $130,000. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant is exercisable into one additional share at a price of 15 cents per share for a period of two years from the closing date. The company has received an extension from the TSX Venture Exchange until May 18, 2023, to close a second tranche, which the company expects to close shortly.
The company intends to use the proceeds from the offering for exploration work, including drilling on its recently acquired Quitovac mine project, and for general working capital purposes.
The company paid a cash finder's fee of $7,350 and issued 147,000 broker warrants to one finder in connection with the offering. The broker warrants entitle the holder to purchase one additional share at a price of five cents for a period one year from the closing date.
The securities issued under the offering and the shares that may be issuable on exercise of the warrants and the broker warrants are subject to a statutory hold period expiring four months and one day from the date of closing.
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under a $5-million (U.S.) option agreement to Alamos Gold.
JonnyRBuck12
12 months ago
Aloro Mining signs formal documentation for Quitovac
2023-05-08 07:13 ET - News Release
Mr. Thomas Doyle reports
ALORO SIGNS THE FORMAL DOCUMENTATION IN MEXICO TO ACQUIRE THE HISTORIC QUITOVAC MINE PROJECT
Aloro Mining Corp., through its Mexican subsidiary, Exploraciones Aloro SA de CV, has signed the formal documentation, in Mexico, with Cuesta Del Cobre S De RL De CV of Hermosillo, Sonora, Mexico, to acquire 100 per cent of the Quitovac gold mine project.
The Mexican agreement has been signed by representatives of both Exploraciones and Cuesta Del Cobre, notarized, and will be filed with the Registro Publico de Mineria, Mining Public Registry. The agreement will govern the terms of the mining exploration and exploitation contract, and the mineral rights assignment contract. This agreement is defendable in accordance with Mexican laws.
The Quitovac gold mine project consists of 14 mineral concessions that cover 2,643.82 hectares of highly prospective geological units for gold mineralization. The Quitovac mineralized area is classified with the other orogenic shear zone gold deposits of the region, including the gold mines of Mesquite, La Choya (eight kilometres south), La Herradura (35 km south, produced over 425,288 ounces gold in 2020), San Francisco and El Chanate. All these gold deposits are similar in character and are stated to be part of the Mojave-Sonora megashear.
Thomas A. Doyle, president, chief executive officer, stated, "The filing of this agreement in Mexico strengthens Aloro's position with the Quitovac mine project."
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac mine project located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados is under $5-million (U.S.) option agreement to Alamos Gold.
JonnyRBuck12
1 year ago
Aloro Mining hires Quitovac project geologist
2023-04-03 06:39 ET - News Release
Mr. Thomas Doyle reports
ALORO CONTRACTS PROJECT GEOLOGIST FOR QUITOVAC
Aloro Mining Corp. has contracted Francisco A. Lopez as project geologist for the Quitovac gold mine project in Sonora, Mexico. Quitovac is located in the prolific Mojave-Sonora Megashear.
Francisco Antonio Lopez (Francisco) is a professional geologist and is a graduate of the University of Sonora. He has more than 30 years experience in the mining industry throughout Mexico.
Francisco is an exploration geologist with experience in all types of geological settings including low and high sulfidation of precious metals, skarns, copper porphyry, stratiform deposits, etc. in several states in Mexico. He has direct experience in the Mojave-Sonora Megashear with orogenic shear zone gold deposits of the region, like Quitovac, including the neighboring gold mine of La Choya (8kms south), where he worked 1986-1987 and again in 1992 for Cobre de Hercules (Anaconda Copper).
Francisco has technical knowledge of all stages of mining exploration including planning, execution, evaluation, logistics, approvals, environmental procedures, supervision and managing of personnel. He is also experienced in community relations and social environments.
Thomas A. Doyle, President, CEO, stated "We welcome Francisco to the Aloro geological team with his years of experience, proven track record in planning and execution of exploration programs to advance projects. Working in collaboration with Technical Advisor, Melvin A. Herdrick, he is a key part of assembling the exploration team for Quitovac. I look forward to updates on the advancement of the project."
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.
JonnyRBuck12
1 year ago
Aloro Mining Corp – TSXV: AORO | OTC: WLRMF | FWB: 4LPP
Price: $0.055 CAD - $0.015 USD – €0.024 EUR
Common Shares: 55.1 Million
Warrants: Nil
Options: 400,000 @ $0.10
Held By Management & Major Shareholders: 49%
All information found in the 2023 company presentation:
https://aloromining.com/site/assets/files/5248/aloro_mining_corp__presentation_march_2023v2.pdf
Company description:
Aloro controls the 2,643.82-hectare Quitovac mine project, located in the prolific Mojave-Sonora megashear, where a large part of Mexico's recent gold production is derived. Aloro also controls the 3,199-hectare Los Venados project, which is located in the central part of the Mulatos gold district and is directly adjacent to the active Mulatos open-pit mine of Alamos Gold Inc. The Los Venados project is under a $5-million (U.S.) option agreement to Alamos Gold.
Quitovac was acquired after the third quarter results. Year end results are to be released end of April which will have more information regarding the asset. Los Venados is a joint venture project between Aloro Mining and Alamos Gold. More information can be viewed in their March 2023 company presentation.
Recent News:
October 14, 2022 - Aloro Provides Los Venados Option Update
https://aloromining.com/news/news-releases/aloro-provides-los-venados-option-update/
January 31, 2023 - Aloro to Acquire the Historic Quitovac Mine Project
https://aloromining.com/news/news-releases/aloro-to-acquire-the-historic-quitovac-mine-project/
March 20, 2023 - Aloro Announces Private Placement
https://aloromining.com/news/news-releases/aloro-announces-private-placement-1/
Additional information regarding Quitovac from the prior land owner:
https://cdn-ceo-ca.s3.amazonaws.com/1i0u76n-Santa%20Cruz%20Annual%20Report%201996.pdf
https://cdn-ceo-ca.s3.amazonaws.com/1i0u775-Santa%20Cruz%20Gold%20NR_Qutovac%2019970225.pdf
TradingCharts
3 years ago
ALAMOS RESUMES DRILLING ON LOS VENADOS
ALORO MINING CORP. – (the “Company or Aloro”) is pleased to announce that Alamos Gold Inc. (“Alamos”) has informed Aloro that after a short break and evaluation it has resumed its reconnaissance drill exploration program on the Los Venados claims, Mulatos District, Sonora Mexico.
Alamos’ current drill program is focusing on the low sulfidation epithermal gold mineralized area to the north where gold mineralization at surface has been identified. The drilling will be following up on the regional mapping and new sampling programs performed by the Alamos geologists, as well as initial exploration programs and data collected by Aloro. The Alamos geological team continues with detailed mapping and sampling of the Los Venados #1 and #2 concessions.
Alamos has already exceeded its first year exploration expenditure commitment.
Alamos has the option to acquire a 70% interest from Aloro by incurring an aggregate of USD$5,000,000 in exploration expenditures and making certain cash payments over the course of three years in two mining concessions, commonly known as the Los Venados Project located in the Municipality Sahuaripa, in the State of Sonora, Mexico. (See news release of October 20, 2020)
As the operator, Alamos will be conducting the exploration on the Los Venados Project until a participation level is attained.
Thomas A. Doyle, President, CEO, stated “We are very pleased with Alamos’ thorough exploration program to date on the Los Venados Project. “
About Aloro Mining Corp. Aloro holds the 3199 hectare Los Venados Project (LV) which is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. Aloro also shares with Alamos, common borders to the east and north. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant, high and low sulfidation mineralized systems, with accessory silver and copper.
ALORO MINING CORP.
Per: “Thomas A. Doyle”
Thomas A. Doyle
President & CEO
http://www.aloromining.com
TradingCharts
3 years ago
July 20, 2021 TSX.V Symbol AORO
FRANKFURT Symbol 4LPP
ALORO APPOINTS DAVE CROSS, CPA, CGA AS CFO AND DIRECTOR
ALORO MINING CORP. – (the "Company or Aloro") ALORO MINING CORP. – ("Aloro" or the "Company") is pleased to announce that it has appointed Dave Cross CPA, CGA as CFO and Director.
Mr. Cross is a Chartered Professional Accountant ("CPA"), Certified General Accountant, and is a co-founder of Cross Davis & Company, a CPA firm that has focused on providing accounting and management services to publicly listed companies since 2010. In total, Mr. Cross has over 23 years of accounting experience.
Aloro also announces that it has accepted the resignation of Logan B. Anderson as CFO and Director.
Thomas A. Doyle, President and CEO stated "Aloro has worked with Dave since the 4th Quarter of 2020. I look forward to working with Dave in a more expanded capacity going forward."
About Aloro Mining Corp. Aloro holds the 3199-hectare Los Venados Project (LV) which is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. Aloro also shares with Alamos, common borders to the east and north. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant, high sulfidation mineralized system, with accessory silver and copper.
ALORO MINING CORP.
Per: "Thomas A. Doyle"
Thomas A. Doyle
President & CEO
http://www.aloromining.com
TradingCharts
3 years ago
Page 3 Employment, Consulting and Management Agreements
Effective January 1, 2011, the Company entered into a consulting agreement with each of
TAD Financial Corp., a consulting company owned by Thomas A. Doyle, and Amteck
Financial Corp., a consulting company owned by Logan B. Anderson, pursuant to which
Mr. Doyle agreed to provide services as CEO and President of the Company for a
consulting fee of $10,000 per month and Mr. Anderson agreed to provide services as CFO
of the Company for a consulting fee of $6,000 per month. Effective January 1, 2018, the
consulting fee paid to TAD Financial Corp. was increased to $15,000 per month. Effective
April 1, 2018, Mr. Anderson agreed to reduce the Amteck Financial Corp. fee to $3,000
per month. Each of Messrs. Doyle and Anderson received monthly compensation
payments directly from the Company from January 2011 to March 2011, at which time
payments began to be made by the Company to TAD Financial Corp. and Amteck
Financial Corp. Each consulting agreement was for an initial one year term and renews
automatically for one year terms each year thereafter unless either the Company or the
consultant gives 60 days’ written notice to the other of its intention not to renew the
respective agreement. In the event of a change of control of the Company, each
agreement provides that the consultant will receive a lump sum payment equal to
twenty-four times their respective monthly consulting fees.
TradingCharts
3 years ago
April 22, 2021
View in PDF format
ALORO MINING CORP. – (the “Company or Aloro”) ALORO MINING CORP. – (“Aloro” or the “Company”) is pleased to announce that Alamos Gold Inc. (“Alamos”) has informed Aloro that it has started its initial drill exploration programs on the Los Venados claims, Mulatos District, Sonora Mexico.
Alamos’ initial drill programs will focus on both the high sulfidation area in the south portion of the property near the Mulatos open pit, and the low sulfidation gold mineralized area to the north where high grade veins have been identified. The drilling will be following up on the regional mapping and sampling programs performed by the Alamos geologists, as well as initial exploration programs and data collected by Aloro, including drilling. The initial drill programs will be on the Los Venados #1 concession.
Alamos has the option to acquire a 70% interest from Aloro by incurring an aggregate of USD$5,000,000 in exploration expenditures and making certain cash payments over the course of three years in two mining concessions, commonly known as the Los Venados Project located in the Municipality Sahuaripa, in the State of Sonora, Mexico. (See news release of October 20, 2020)
As the operator, Alamos will be conducting the exploration on the Los Venados Project until a participation level is attained.
The Company’s continues to review additional exploration properties. The Company continues to follow up and negotiate on 3 gold properties as potential property acquisitions.
Thomas A. Doyle, President, CEO, stated “We are very pleased that Alamos has started its initial drill exploration programs on the Los Venados Project. With Alamos’ experience and geologic knowledge gained in the immediate area with their major gold mine, I look forward to their success.”
About Aloro Mining Corp. Aloro holds the 3199 hectare Los Venados Project (LV) which is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. Aloro also shares with Alamos, common borders to the east and north. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant, high sulfidation mineralized system, with accessory silver and copper.
https://aloromining.com/news/news-releases/alamos-gold-begins-drilling-on-los-venados/
TradingCharts
3 years ago
February 25, 2021
View in PDF format
ALORO MINING CORP. – (the “Company or Aloro”) ALORO MINING CORP. – (“Aloro” or the “Company”) is pleased to provide the following updates:
Alamos Gold Inc. (“Alamos”) has informed Aloro, that in January, 2021, it started its field exploration programs on the Los Venados claims, Mulatos District, Sonora Mexico. The initial area of focus is the south portion of the property, adjacent to the Mulatos open pit, following up on the initial exploration programs and data collected by Aloro, including the areas of previous drilling.
Alamos has the option to acquire a 70% interest from Aloro by incurring an aggregate of USD$5,000,000 in exploration expenditures and making certain cash payments over the course of three years in two mining concessions, commonly known as the Los Venados Project located in the Municipality Sahuaripa, in the State of Sonora, Mexico. (See news release October 20, 2020)
As the operator, Alamos will be conducting the exploration on the Los Venados Project. The Company’s strategy has been to acquire 1 or 2 exploration properties in order to have news coming from those properties in between the results coming from Los Venados. Over the past year, Aloro has reviewed many different properties for potential acquisition. The Company has focused on 3 properties that it continues to follow up and negotiate on, as a potential acquisition. The Company will continue to review new projects as they become available.
Thomas A. Doyle, President, CEO, stated “We are very pleased that Alamos has informed us that it has started its field exploration programs on the Los Venados Project. With Alamos’ experience and geologic knowledge of the immediate area with a major gold mine, I look forward to their findings.”
About Aloro Mining Corp. Aloro controls the 3199 hectare Los Venados Project (LV) which is located in the Mulatos Gold District and is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. Aloro also shares with Alamos, common borders to the east and north. The western border is shared with Agnico Eagle Mines Limited where it operates the La India open pit. The known mineralization within the Mulatos District is gold-dominant, high sulfidation mineralized system, with accessory silver and copper.
https://aloromining.com/news/news-releases/aloro-provides-update/
TradingCharts
3 years ago
Management & Directors
LOGAN B. ANDERSON, B.COMM (ACCOUNTING/ECON), ACA (NEW ZEALAND)
CFO, Secretary and Director
A previous Chartered Accountant in New Zealand, Mr. Anderson served as Wolverine's President from 2004 to 2006. He has been the Principal and President of Amteck Financial Services Company, a private financial consulting firm, since 1993. Mr. Anderson provides Wolverine with considerable financial and management expertise.
https://www.aloromining.com/corporate/management-directors/
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