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Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – December 12, 2018) – Minera Alamos Inc. (TSXV: MAI) (“Minera Alamos” or the “Company”) is pleased to announce it has obtained $2 million of early funding in connection with its previously announced royalty agreement (the “Royalty Option Agreement”) through the execution of a secured senior convertible loan agreement (the “Loan” or “Loan Agreement”) with Osisko Gold Royalties Ltd (TSX: OR) (“Osisko”). The Loan may be converted into a 1% NSR on the La Fortuna gold project pursuant to the Royalty Option Agreemententered into with Osisko in May 2017, as detailed below.
Further to the Company’s news release dated November 21st, 2018 (“Minera Alamos Receives Positive Notice Regarding Permit Applications for La Fortuna Gold Project in Durango, Mexico“), the majority of the new funds are destined for a change of land use payment requested by the Mexican authorities (Secretaria de Medio Ambiente y Recursos Naturales – “SEMARNAT”) in conjunction with the La Fortuna gold project permit applications. Following the completion of the change of land use payment, SEMARNAT will then be in a position to issue the formal approval documentation for the La Fortuna project.
“As stated previously, the receipt of formal permit notifications for the La Fortuna gold project represents a major milestone for the Company. We are appreciative of the support provided by Osisko Gold Royalties allowing for us to meet the permitting payment deadlines,” stated Minera Alamos CEO Darren Koningen. “We can now look forward to 2019 and the beginning of site preparation work leading to a construction decision later in the year.”
“We are pleased to provide continuing support to the efforts of the Minera Alamos team as they successfully advance the La Fortuna gold project through permitting and toward a production decision,” stated Sean Roosen, Chairman and Chief Executive Officer of Osisko Gold Royalties. “The progress that Minera Alamos has made this year is a testimony to their ability to advance their development portfolio and we look forward to working with them as they transition to a gold producer.”
$2 MILLION SENIOR SECURED LOAN
Under the terms of the Loan Agreement, Osisko has provided Minera Alamos with a $2 million (the “Principal Amount”) loan. The Loan has a maturity date of 18 months from the date of issue and interest shall be payable on the Principal Amount at a rate per annum that is equal to LIBOR plus 8.5%, compounded monthly. Accrued interest shall be payable at maturity. At Osisko’s election, the Principal Amount may be converted in to a 1% NSR on the La Fortuna gold project pursuant to the Royalty Option Agreement (see press release dated May 30th, 2017). In addition, at the sole discretion of Osisko, the maturity date of the Loan could be advanced earlier than 18 months subject to providing 60 days notice to Minera Alamos. While the Loan is outstanding, it is secured by substantially all of the assets of Minera Alamos.
The Company has also issued 200,000 common share purchase warrants (the “Warrants”) to Osisko. Each Warrant entitles Osisko to acquire one common share at a price of $0.30 during the term of Loan.
The loan will be used for the change of land use payment required as part of the recent notice received by the Company regarding the Company’s ETJ-MAI permit applications for the proposed La Fortuna gold project and for other Project development purposes such as site preparation work in advance of the arrival of the Company’s previously acquired 2,000 tpd mill.
The entering into the Loan Agreement, the Amendment of the Royalty Option Agreement, the issue of the Warrants, the granting of the Security and the other transactions contemplated by the Loan Agreement, are considered to be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as a result of Osisko owning 46,080,000 (~15.3%) of the common shares of the Company. Notwithstanding the foregoing, the transactions are exempt from the requirement to obtain a formal valuation pursuant to section 5.5(b) of MI 61-101, as the common shares of Minera Alamos are not listed on any of the specified markets and exempt from the requirement to obtain minority approval pursuant to 5.5(a) of MI 61-101, as at the time the transactions were agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for the transactions, insofar as it involves interested parties, exceeded 25 per cent of the Company’s market capitalization. The material change report to be issued in connection herewith is being filed less than 21 days in advance of the closing of the Loan as the Company requires the consideration it will receive in connection with the Loan immediately to make certain property payments.
ROYALTY OPTION AGREEMENT AND INVESTMENT AGREEMENT
Further to a Strategic Partnership entered into between Minera Alamos and Osisko in May 2017, Osisko was provided certain rights that included:
As part of the early funding arrangement, the Royalty Option Agreement was amended to provide the earlier conversion of the loan into a 1% NSR royalty that provides the Company increased flexibility. In addition, amendments were made to provide for liquidated damages and pursuant to the Investment Agreement to remove the 10% shareholding requirement in relation to the rights granted to Osisko under the Royalty Option Agreement as noted above.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress. The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.
The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’ financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
In a wide-ranging conversation, Bob Moriarty of 321 Gold discusses with Maurice Jackson of Proven and Probable geopolitics, economics, Bitcoin, precious metals and more.
Source: Maurice Jackson for Streetwise Reports (12/11/18)
In a wide-ranging conversation, Bob Moriarty of 321 Gold discusses with Maurice Jackson of Proven and Probable geopolitics, economics, Bitcoin, precious metals and more.

1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Miramont Resources, Irving Resources and Novo Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Miramont Resources, Irving Resources and Novo Resources are sponsors of 321 Gold and/or 321 Energy.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Irving Resources and Novo Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Miramont Resources, Irving Resources and Novo Resources are sponsors of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
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As time has gone by I have grown increasing respectful of Trump. Not only he is doing what he said he would, but he is also among those rare people who understand the problems that the West faces. Trump is having to deal with the massive problems that the earlier—short-terministic, populist and vision-less—regimes left behind. But people’s failure to put issues into perspective means that it is Trump who gets the blame. That is why I don’t like democracy, for most people use soundbite-level, isolated information—mostly rationalizations—to reach conclusions. Or more accurately they look for justifications for their emotions.
Despite all its flaws, the USA is still among the best places in the world.
As a child, I often dreamt of emigrating to America. America’s military-industrial complex rightly has a bad name. But, alas, if I had a switch to get rid of it, I would not use it. Without US interference, the world would be an extremely unstable place. For example, had the USA not interfered, Saudi Arabia, Iran, Iraq, Brazil, Libya, etc. would have all had nuclear weapons. Perhaps humanity would have seized to exist. Without US interference, the Third World tyrannies, tribal-warfare and massacres would have been much worse, which would have rightly kept their population-number under control, but also refugees would have flooded the West:
On investments…
Linked is a recent discussion with Cory Fleck on how I go about investing in the mining sector. In the same talk I mention a few stocks.
Here are some more that I like:
On other matters…
Videos of last year’s Capitalism & Morality are now available. They are linked here.
The next Capitalism & Morality will be held on 3rd August 2019. Please register using the Paypal button on this page, if you haven’t already done so. One-third of the seats are already gone, and being a capitalist I do increase the ticket price—very substantially—as we get closer to the event.
Warm regards,
Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
TORONTO , Dec. 10, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (ANX.TO) (ANXGF) is pleased to announce the filing of the updated technical report prepared in accordance with National Instrument 43-101 regarding an update to the Mineral Resource Estimate (“Mineral Resource”) for its 100%-owned Goldboro Gold Project (“Goldboro”, or the “Project”) in Nova Scotia, Canada .
The technical report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.anacondamining.com.
“The filing of the technical report represents the culmination of significant milestones to date in the development of the Goldboro Gold Project. Just over a year and a half ago, we acquired the project at a compelling valuation and in a short period of time, we have produced a positive preliminary economic assessment, registered the project for environmental permitting, initiated a 10,000-tonne bulk sample, and drilled a further 12,000 metres which increased the deposit to over 600,000 ounces of Measured and Indicated Resources and over 450,000 ounces of Inferred Resources. We look forward to further progress in 2019 as we begin a feasibility study and continue to advance all required permits with the aim of beginning construction in 2020.”
~ Dustin Angelo , President and CEO
The technical report, entitled “Anaconda Mining Inc., Goldboro Project Mineral Resource Update and Preliminary Economic Assessment” and which is dated October 25, 2018 , was authored by independent qualified persons Joanne Robinson , P.Eng., Garth Liukko , P.Eng., and Sebastian Bertelegni , P.Eng., all of WSP Canada Inc., J. Dean Thibault , P.Eng., of Thibault & Associates Inc., and non-independent qualified person Gordana Slepcev, P.Eng., of Anaconda.
Highlights of the Goldboro Gold Project Mineral Resource Update* (effective July 19, 2018 ):
|
Category** |
Tonnes (‘000) |
Grade (g/t Au) |
Ounces (Rounded) |
% Change in Grade |
% Change in Ounces |
|
Measured |
1,611.8 |
4.23 |
219,300 |
+ 42% |
+ 447% |
|
Indicated |
2,166.2 |
5.50 |
383,400 |
+ 18% |
(21%) |
|
Measured and Indicated |
3,778.0 |
4.96 |
602,700 |
+11% |
+15% |
|
Inferred |
2,126.4 |
6.63 |
453,200 |
+ 56% |
+ 30% |
* See Mineral Resource Estimate Notes below.
** Combined Open Pit and Underground Mineral Resources. Open Pit Mineral Resource based on a 0.50 g/t Au cut-off grade; Underground Mineral Resource based on 2.00 g/t Au cut-off grade.
*** Refer to the Company’s current technical report or technical report entitled “Goldboro Project Preliminary Economic Assessment” dated March 2, 2018 for further details (the “Previous Report“).
Goldboro Preliminary Economic Assessment
Anaconda is also pleased to report updated after-tax economics with respect to the Preliminary Economic Assessment study (“PEA”) on Goldboro . The change in after-tax economics reflects the confirmation with the Nova Scotia Department of Natural Resources of the application of a mineral royalty tax of a 1% net smelter return on gold production, which supersedes the higher mineral tax applied in the Previous Report. All dollar amounts are expressed in Canadian dollars unless otherwise noted.
1 Assumes a 0.77 USD : CAD exchange rate.
2 See Non-IFRS Measures below.
The updated PEA only reflects the change in the mineral royalty tax and does not incorporate increases to the Mineral Resource as at July 19, 2018 . The updated Mineral Resource does not affect the validity or currency of the PEA, which continues to use the Mineral Resource as reported in the Previous Report. With the increase in Mineral Resources announced today, Anaconda believes there is the potential for increased Project mine life and higher potential gold production due to the increase in grade, which will be assessed in future studies.
The PEA is preliminary in nature and includes the use of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Thus, there is no certainty that the results stated in the PEA will be realized. Actual results may vary, perhaps materially. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Mineral Resource Estimate Notes
Qualified Persons
Gordana Slepcev, P. Eng., Chief Operating Officer, Anaconda, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
A version of this news release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.
ABOUT ANACONDA MINING INC.
Anaconda Mining is a TSX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight open pit mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and 7-million tonne capacity tailings facility, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject of a 2018 a preliminary economic assessment which demonstrates a strong project economics.
The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .
NON-IFRS MEASURES
Anaconda has included certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Operating Cash Costs per Ounce of Gold – Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation and rehabilitation costs.
All-In Sustaining Costs per Ounce of Gold – Anaconda has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company’s definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013 . The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.
The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), corporate administration costs, sustaining exploration, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, financing costs, debt repayments, and taxes. Canadian and US dollars are noted for realized gold price, operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold. Both currencies are considered relevant and the Company uses the average foreign exchange rate for the period.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, but is not limited to, disclosure regarding the economics and project parameters presented in the PEA, including, without limitation, IRR, all-in sustaining costs, NPV and other costs and economic information, possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future development and exploration activities on the Company’s projects; success of development and exploration activities; permitting time lines and requirements; time lines for further studies; planned exploration and development of properties and the results thereof; and planned expenditures and budgets and the execution thereof. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda’s annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com.
Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.

View original content: http://www.newswire.ca/en/releases/archive/December2018/10/c5373.html
VANCOUVER , Dec. 10, 2018 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to report that it has entered into a non-binding heads of agreement (the “HoA“) with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (“NCM“), for an Option to Farm-in on the Gorbea High-Sulfidation Epithermal (HSE) gold projects (the “Project“) in Chile , and is terminating the previously announced (news release February 26, 2018 ) NCM option agreement on the Zeus Project (Figure 1).
The Gorbea HoA is subject to NCM completing its due diligence review of the claims and the parties executing a formal option agreement (the “Agreement“) on or before January 15, 2019 or such later date as may be agreed. The key terms of the Agreement having been settled, the parties will execute the final Agreement once due diligence has been completed. Mirasol has granted an exclusivity period to NCM to complete these conditions.
The Gorbea Project comprises a package of projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) projects, located in the Mio-Pliocene age mineral belt of northern Chile. The Gorbea properties were subject to a previous joint venture that was terminated in April 2018 , after the partner had incurred exploration expenditures in excess of US$ 8 million. The exploration identified a significant body of HSE gold mineralization at the Atlas project, which returned a drill intercept of 114 m grading 1.07 g/t Au, including 36 m grading 2.49 g/t Au (news release September 11, 2017 ). Mirasol is undertaking an integrated analysis of the extensive Atlas database and will provide a technical update on the project in the near term.
Option to Farm-in Agreement:
Under the terms of the HoA, NCM will have the right to acquire, in multiple stages, up to 75% of the Gorbea Project by completing a series of exploration and development milestones and making staged option payments to Mirasol. NCM has committed to spend a minimum of US$4 million and complete a minimum of 3,000 m of drilling over an initial 18-month period, subject to drill permitting timelines. NCM has assembled a Chilean based exploration team with significant HSE exploration experience and will operate the Gorbea exploration program.
Stephen Nano , CEO of Mirasol, stated that “we are pleased to again be partnering with the Newcrest team to explore some of our prospective Mio-Pliocene belt projects for district scale gold deposits. Newcrest has allocated a combined US$7.3 million in separate agreements, for the exploration of Mirasol’s Gorbea and Altazor projects over the next 12 to 18 months. We are working with Newcrest to advance the permitting process for the Atlas project in the Gorbea package, with the objective of drilling during the southern hemisphere summer.”
Terms:
Option phase:
Farm-in phase:
After NCM has met the minimum commitment in the Option phase, NCM may terminate at any time without liability. In the event that NCM should complete Stage 1, but elect not to proceed to Stage 2, then NCM’s 51% interest shall be adjusted to a 49% interest. In the event that NCM completes Stage 2, but elects not to proceed to Stage 3, then NCM’s 65% interest shall be adjusted to a 60% interest and the parties may agree to halt further exploration or continue and contribute in proportion to their interests or be diluted.
The HoA also contains other customary terms including extension rights to increase the duration of each stage 1, 2 or 3 for cash payments to Mirasol and pre-emptive rights provisions should either party elect to sell its interest in the Project.
Early Termination of the Zeus Agreement:
The companies have also agreed to the early termination of the Zeus Option to Farm-in Agreement that was previously announced on February 26, 2018 . Under the terms of the Zeus agreement, NCM had a minimum spend commitment of US$1.5 million in the first 18-month exploration program. The balance of the minimum commitment expenditures for Zeus that have not yet been incurred, will be applied towards the $4 million initial commitment for the Gorbea Project. NCM has also agreed to a US$200,000 early termination payment to Mirasol. Upon termination, NCM will have no retained rights in the Zeus project.
Mirasol wishes to thank NCM for its investment that has advanced exploration of the Zeus project. Mirasol will report the exploration results from last season’s Zeus exploration program shortly. Mirasol has initiated the business development process to identify a new joint venture partner to continue exploration at the Zeus project during the 2019 southern hemisphere summer season. Mirasol maintains the view that Zeus is a prospective, underexplored, Au+Ag project located in prospective geological setting, 43km East of the Goldfields Salares Norte HSE project2 (of 3.7 Moz Au at 4.89 g/t Au and 49.5 Moz Ag contained within 23.3 Mt) in the Mio-Pliocene belt of Northern Chile .
About Newcrest Mining Limited
Newcrest is one of the world’s largest gold mining companies, operating five mines in Australia , the Asia – Pacific and Africa regions. Newcrest has extensive experience developing and operating successful underground and open pit mines in culturally and geographically diverse environments. Newcrest seeks to identify and secure large mineral districts, or provinces, in order to establish long term mining operations.
About Mirasol Resources Ltd
Mirasol is a leading project generation company focused upon the discovery, and development of economic precious metal and copper deposits via a hybrid Joint Venture and self funded drilling business model. Strategic Joint Ventures with major precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions of Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and with experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of Santa Cruz Province Argentina .
Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.
Under the terms of the pervious Gorbea Joint Venture (terminated in April 2018 ), all exploration was managed by the then joint venture partner. Pre-joint venture exploration on the projects was managed by Stephen C. Nano , who is the Qualified Person under NI 43-101. Exploration data generated from the previous Gorbea Joint Venture program was reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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1 |
“Bankable” is defined as suitable to be submitted to a recognized financial institution as a basis for lending funds for the development of a mine |
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2 |
Gold Fields. (2017). Integrated Annual Report 2017. |
SOURCE Mirasol Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/December2018/10/c5011.html
Andy Schectman the President of Miles Franklin Precious Metals Investments sits down with Maurice Jackson of Proven and Probable to discuss the strategic advantages available to precious metals investors regarding tax loss selling, and the value proposition of owning precious metals IRA, which is redeemable in cash and or physical precious metals.
Source: Maurice Jackson for Streetwise Reports (12/10/18)
Andy Schectman of Miles Franklin Precious Metals Investments discusses with Maurice Jackson of Proven and Probable some benefits of holding precious metals in IRAs as well as some other tax advantages of precious metals.

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TORONTO, Dec. 10, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that it has revised the terms of its previously announced private placement of units of the Company (the “Units”), at a price of $0.05 per Unit, for aggregate gross proceeds of up to $5,000,000 (the “Private Placement”) (see news release dated November 27, 2018). Under the Unit offering terms, each Unit will comprise one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.07 for a period of 24 months following the closing date of the Private Placement.
The Company has amended the terms of the Private Placement such that up to $1,500,000 of the Private Placement will now be available on a flow-through basis. Specifically, pursuant to the Private Placement, the Company will issue up to 25,000,000 flow-through units of the Company (the “FT Units”) at a price of $0.06 per FT Unit. Each FT Unit will comprise one “flow-through” common share (a “FT Share”) and one-half of one Warrant. As under the Unit offering terms, each Warrant will be exercisable to acquire one common share of the Company at a price of $0.07 for a period of 24 months following the closing date of the Private Placement.
The proceeds of the Private Placement will be used by the Company for the continued development of its 100% owned Bradshaw Gold Deposit (“Bradshaw”) and for working capital purposes. At the same time, now that the Company has secured a toll-milling agreement (see news release dated October 30, 2018) and expects to be in a position to start processing material from Bradshaw, Gowest is also pursuing a more significant, long-term strategic investment (see news release dated November 15, 2018).
Certain insiders of the Company may participate in the Private Placement, and the Company may pay a finder’s fee to registrants who assist the Company in connection with the Private Placement. Completion of the Private Placement is subject to receipt of TSX Venture Exchange approval.
All of the securities issuable in connection with the Private Placement will be subject to a hold period expiring four months and one day after date of issuance. The Private Placement may be closed in one or more tranches.
The securities offered have not been 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 release does not constitute an offer for sale of securities in the United States.
It is anticipated that the closing of the Private Placement will occur on or before December 31, 2018.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information please contact:
Greg Romain
President & CEO
Tel: (416) 363-1210
Email: info@gowestgold.com
Greg Taylor
Investor Relations
Tel: 416 605-5120
Email: gregt@gowestgold.com

Vancouver, British Columbia–(Newsfile Corp. – December 6, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce the execution of a Regional Strategic Alliance agreement (the “Agreement”) between its wholly-owned subsidiary Bronco Creek Exploration, Inc. (“BCE”), and South32 USA Exploration Inc. (“South32”), a wholly-owned subsidiary of South32 Limited. The Agreement provides annual funding for generative work and acquisitions over a two year period, as well as a framework to advance projects of interest. Generative work will focus on copper and other base metal projects within the Laramide and Tertiary magmatic arcs of Arizona, New Mexico and Utah. Projects advanced to the drill program stage may be selected as Designated Projects. Designated Projects will advance under separate option agreements providing for work commitments and cash payments to EMX during South32’s earn-in period, and upon earn-in, a 2% net smelter return (“NSR”) royalty interest and pre-production and milestone payments to EMX’s benefit. South32 has initially selected five EMX copper projects in Arizona to begin advancing toward the drill program stage. Please see the attached map and www.EMXroyalty.com for more information.
Alliance and Commercial Terms Overview (all dollar amounts in USD). Under the terms of the Agreement, which has an initial term of two years, South32 will provide annual funding for generative work performed by EMX personnel to identify properties for exploration work (“Alliance Exploration Properties” or “AEPs”) within the Regional Strategic Alliance Area of Interest (“AOI”) that consists of the states of Arizona, New Mexico, and Utah, but excludes South32’s Hermosa project in southern Arizona. EMX personnel will conduct exploration activities on AEPs with additional funding from South32 in order to identify projects suitable for designation as Designated Projects. Each Designated Project will be covered by a separate option agreement pursuant to which South32 can acquire 100% of the project on the terms described below. All generative and AEP exploration activities will be guided by a Technical Committee consisting of two members from each company.
South32 will provide $800,000 per year to cover the generative work and the salaries of EMX personnel involved in AEP exploration work. South32 will also provide a separate annual acquisition fund of $200,000 to pay for the acquisition of new properties as approved by the Technical Committee. AEP exploration work will be funded separately through cash calls to South32 in amounts directed by the Technical Committee.
Designated Project Option Agreement Terms (all dollar amounts in USD). Each option agreement covering a Designated Project will provide that South32 can earn 100% interest in the project by reimbursing EMX’s holding costs upon execution of the option agreement, and making option payments totaling $525,000 and completing $5,000,000 in exploration expenditures during the five-year term of the option agreement.
Upon exercise of the option by South32, EMX will retain an uncapped 2% NSR royalty on the project (not subject to purchase or buy down) and receive annual advance royalty (“AAR”) payments equivalent to 50,000 pounds (“lbs”) of copper commencing on the first anniversary. All AAR payments are set off against 80% of future royalty payments. In addition, South32 will make milestone payments as follows (project milestones are to NI 43-101 reporting requirements):
Initial Alliance Exploration Projects. Five Arizona porphyry-copper projects have been selected as AEPs by South32, including Midnight Juniper, Jasper Canyon, Sleeping Beauty, Dragons Tail, and Lomitas Negras. EMX and South32 are commencing work programs on the initial AEPs, as well as initiating a generative program to identify new projects for acquisition. Note, in the following project descriptions, although the referenced nearby mines and deposits provide geologic context for EMX’s properties, this is not indicative that the EMX properties host similar endowments of mineralization.
Midnight Juniper. The Midnight Juniper project lies at the north end of the Clifton-Morenci mining district, approximately one kilometer northwest of the Morenci open pit copper mine. The project geology consists of a dissected plateau of Tertiary age volcanic cover rocks overlying a series of Paleozoic sedimentary and Proterozoic metamorphic rocks that are exposed in an arcuate pattern at lower elevations along stream courses. Paleozoic carbonate rocks contain a number of manganese oxide-rich base metal occurrences in northeast oriented vein, replacement, and breccia bodies typical of the distal expression of porphyry copper systems. EMX’s reconnaissance mapping shows that these occurrences appear to vector towards a suspected porphyry source lying under Tertiary cover rocks in the center of the Midnight Juniper land position.
Jasper Canyon and Sleeping Beauty. The Jasper Canyon and Sleeping Beauty projects are located in the Globe-Miami mining district. Both properties lie on the flanks of the Schultz Granite intrusive complex, which is associated with numerous past and current producing copper mines and deposits in the Globe-Miami and Superior mining districts. Porphyry copper deposits in this region have been dismembered by numerous post-mineral faults that displace upper levels of the mineralized systems northeastward. The Jasper Canyon and Sleeping Beauty projects lie at the east end of a northern trend of fault bounded deposits that include Pinto Valley, Diamond H and Copper Cities. The Jasper Canyon project lies along the easternmost portion of this trend and represents a fault-bounded and largely covered portion of the suspected upper levels of a porphyry copper system in a previously unexplored portion of the district. The Sleeping Beauty project lies to the west of Jasper Canyon, and directly north of the Copper Cities open pit copper mine, and is interpreted to contain down-dropped blocks of mineralization north of the Sleeping Beauty fault. Other fault-bounded copper deposits in the district at similar structural levels include Copper Cities, Miami East, Van Dyke, and Old Dominion.
Dragons Tail. The Dragons Tail project is located in the Superior mining district, approximately eight kilometers north of the Resolution copper deposit and five kilometers southwest of Pinto Valley. EMX identified a 1.6 kilometer long zone of quartz-sulfide alteration within Proterozoic sedimentary rocks during reconnaissance work. The outcrops of quartz-sulfide veining lie beneath tilted Tertiary age volcanic and conglomeratic cover rocks. Historic drilling on the east side of the property intercepted transported copper-oxide mineralized clasts within Tertiary conglomerates, which suggests the source of the copper lies to the west of the drilling and likely down dip of the mineralized exposures.
Lomitas Negras. The Lomitas Negras project is located approximately ten kilometers southeast of the town of San Manuel, in a broad area of post-mineral cover rocks. The property is ringed by Laramide-age intrusive rocks and porphyry copper/skarn deposits that include San Manuel-Kalamazoo (~20 kilometers north), Copper Creek (~25 kilometers northeast), and Oracle Ridge (~10 kilometers southwest). Nearby outcrops exhibit alteration and anomalous base metal mineralization that characteristically occurs on the margins of porphyry copper systems. EMX’s recognition of the altered outcrops, combined with a new interpretation of the extensional structural setting of the area, led to the identification of concealed porphyry copper targets beneath the post-mineralization pediment cover.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.
The Regional Strategic Alliance Agreement with South32 is an excellent example of the execution of EMX’s royalty generation business model. The Company’s organically generated porphyry copper projects were acquired on open ground in productive mining districts, with value established through low cost, early-stage exploration work. The Agreement’s provisions for generative funding are coupled with the future upside potential for project work commitments, pre-production payments and retained royalty interests based upon exploration success to EMX’s and South32’s mututal benefit.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
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For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements“ that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,“ “anticipate,“ “will“, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the“MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
Figure 1: AEP projects and RSA AOI (Arizona, Utah, and New Mexico) with South32.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/41446_figure1new.jpg
