Mines Management, Inc. Stock
November 17, 2009 By Leave a Comment
MINES MANAGEMENT, INC. announced today that it has withdrawn its previously announced public offering of 6,000,000 shares of common stock. The terms presented by the underwriters did not meet the minimum expectation of net proceeds.
The Company’s President and Chief Executive Officer, Mr. Glenn M. Dobbs, stated, “While we were gratified with the strong support for the offering, potential pricing would have required unacceptable levels of dilution to current stockholders. We are fortunate that our balance sheet remains strong as we work to advance the Montanore Silver-Copper Project, with approximately US$14 million in cash and cash equivalents, and no material debt. We will continue to focus our efforts on preparations for the underground drilling program and re-permitting efforts as we advance the Montanore toward development.” [Read more...]
Robex Resources Inc. on the Nampala
November 12, 2009 By Leave a Comment
Robex Resources Inc. announce that it has completed the preparatory phase of the drilling campaign planned for the Nampala gold deposit located on the Mininko permit, in the Republic of Mali. Robex is now preparing to commence its drilling campaign with the intent of increasing the quality of the resources contained within a portion of the Nampala deposit.
Virginia Mines Inc.: Secures $2.4 M Private Placement
November 12, 2009 By Leave a Comment
Virginia Mines Inc. announces that it has negotiated a private placement that consists of 279,124 flow-through common shares at a price of $8.67 per share, which represents 69% premium to the last 10 days volume weighted average price for gross proceeds of CA$2,420,000. Casimir Capital L.P. (”Casimir”) acts as the agent for the financing.
At the closing, Virginia agrees to pay Casimir a finder’s fee equal to 6% of the gross proceeds of the financing and non-transferable broker warrants entitling Casimir to subscribe for such number of common shares of Virginia equal to 6% of the number of flow-through common share that will be issued. The warrants will be struck at $6.58 and will have a term of 24 months from closing. [Read more...]
Allana Resources: Strategic Investment with China Minerals United Management Ltd.
November 9, 2009 By Leave a Comment
Allana Resources Inc. announce that the Company has completed its previously announced Strategic Investment with China Minerals United Management Ltd. (see News Release dated November 4, 2009) by way of private placement financing of Common Shares of the Corporation for gross proceeds of $2,000,000 million through the issuance of 8,000,000 Common Shares at a price of $0.25 per Common Share (the “Offering Price”). [Read more...]
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