Agoracom Blog Home

Posts Tagged ‘#mining’

« Older Entries
Newer Entries »

Mining and Medical Marijuana

Posted by AGORACOM-JC at 6:29 PM on Monday, April 7th, 2014

Dear Member,

The company we are about to introduce has a market cap of roughly $3 million. Its share price is $0.065, and there are approximately 46.5 million shares outstanding. On March 19th and 20th of 2014, this company’s stock price hit an intraday high of CDN$0.135 and CDN$0.13 respectively.

There has been nearly $30 million spent on this company’s 100% owned Platinum Group Metals exploration project. The project is known as the River Valley Project, an asset with a compliant *NI 43-101 resource estimate (completed by an internationally known engineering company) in the Measured and Indicated and Inferred categories (we’ll get to this shortly).

Approximately 500 drill holes have been completed on the Project and it is one of the largest un-developed primary PGM (Platinum Group Metals) projects in Canada. Furthermore, the Project has been worked on by our Featured Company since the late 90’s. Through commodity bull and bear markets, this company has stuck to its vision.

There is major significance in the fact that this is an established Platinum Group Metals exploration project located in Canada. Residing in Ontario, the project lies within the country’s premier Ni-Cu-PGM mining and smelting district, which boasts strong infrastructure and community support for mining activities.

Platinum and palladium, the two key metals within our new Featured Company’s flagship project, face major supply threats right now. The reason being is that South Africa and Russia control an approximate 80% of the world’s PGM production – two countries which have become unfriendly and even hostile to miners and more generally, the Western World (more on this shortly).

In Canada, there is but one stand alone PGM producer – it is located in Northern Ontario… our new Featured Company’s President was previously Vice President Exploration for that very company. And our new Featured Company’s advanced staged exploration project, as mentioned, is also located in Ontario.

Have you been watching some of Canada’s medical marijuana-related stocks of late?

Kind of a strange question to ask when talking about a mining play, right? Not in this case.

In addition to its 100% owned Platinum Group Metals Project, on March 7, 2014 it was reported that our new Featured Company controlled 3,844,445 common shares of Next Gen. Next Gen’s share price is up several hundred percent since the start of the year and traded millions since March 1st. Next Gen’s shares closed trading on Friday at $0.34.

There is a lot of speculation surrounding the Medical Marijuana Industry given the new legislation in Canada, which we’ve written about in previous letters; it is a sector we want some exposure to.

The Medical Marijuana Industry is in its infancy as a legitimate corporate industry. While no one can accurately predict the height this new industry may reach, estimates by Health Canada and ArcView Angel Investors are that the sector will grow 10 fold and become an industry of more than $10 billion annually over the next 5 years.

So, in our hunt for a play that provided some exposure to the Medical Marijuana Industry, while still being focused on a proven and fundamentally sound sector, we identified Pacific North West Capital (PFN:TSXV) (PAWEF:OTCQB) (P7J:Frankfurt), our new Featured Company.

While the mining and medical marijuana industries seem like polar opposites, when reading this report you’ll understand the connection our new Featured Company has to both.

We selected Pacific North West Capital as a client and Featured Company based on the merit of its 100% owned PGM asset. This asset is one of the largest undeveloped primary PGM (Platinum Group Metals) projects in Canada. The significant ownership the company has in Next Gen is just icing…

The Story

Pacific North West Capital Corp., or PFN, has a market cap of roughly $3 million. It owns 100% of an advanced PGM (Platinum Group Metals) exploration project with a high confidence *NI43-101 compliant resource estimate. Majority proportion of that resource estimate is in the Measured and Indicated categories. The project is known as the River Valley Project and exploration on the asset goes back to the late 90’s.

Roughly 100km from Sudbury, Ontario, one of Canada’s mining epicentres, PFN’s River Valley Project has had nearly $30 million spent on it since 1998. The company recently raised $500,000 through equity, has relatively low carrying costs on its advanced-staged exploration project and has a management team that has raised more than $200 million in its career…

Like the majority of junior miners, Pacific North West Capital was sold off heavily over the last few years, and its current market cap is evidence of that.

Pacific North West Capital’s major shareholders include:

  • Anglo Platinum (the world’s largest primary producer of Platinum): owns approximately 5.8% of PFN
  • Stillwater Mining (largest producer of palladium and platinum outside of Russia and South Africa): owns approximately 4.1% of PFN
  • PFN Management and Insiders: own approximately 15.8% of PFN

Palladium, platinum and gold are the most influential metals PFN is targeting at its River Valley Project. However, as it is a polymetallic project, it also hosts copper, nickel and rhodium.

PFN’s River Valley PGM Project Highlights

  • 3 Million ounces of PGMs (5 Moz PdEq) – details in charts and links below
  • On a PdEq basis, the Measured + Indicated resources contain 3,944,000 ounces PdEq and the Inferred resources contain 1,201,000 ounces PdEq
  • PGM mineralized zones are open to expansion through continued exploration
  • 100% owned by Pacific North West Capital Corp. (subject to 3% NSR)
  • Located on Mining Leases within 100km of Sudbury’s Metallurgical Complex
  • Substantial exploration upside for high grade locally and regionally (see diagram below)
  • PFN also holds 100% ownership of a substantial regional exploration portfolio around the River Valley PGM Project, with over 30 un-drilled exploration targets. (they do have one 70%-30% joint venture)
  • South African and Russian PGM supply decreasing and PGM demand increasing (more details shortly)
  • PFN management are currently evaluating the project’s resources for development of a potential open pit mining operation
  • With renewed interest in North American PGM Projects, increasing demand and diminishing supply, management’s objective is to option/joint venture the River Valley Project.

Click here for investor presentation and complete description of the above mentioned highlights.

* Link to Table 1 – NI 43-101 Compliant Mineral Resources for the River Valley PGM Project Sudbury, Ontario

Link to 2012 NI 43-101 resource estimate press release

  • Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves
  • Long-term forecast prices (US$): $896/oz Pd, $1885/oz Pt, $1271/oz Au, $3.0/lb Cu, $9.7/lb Ni, $15.9/lb Co
  • Resource estimation based on 462 holes for 100,000 metres drilled at sectional spacing of 25 metres to 100 metres on eight separate mineralized zones
  • Click here to read the Technical Report and Resource Estimate on the River Valley PGM Project, Northern Ontario – dated June 13, 2012
  • Further details on the River Valley PGM Project and its NI 43-101 compliant resource estimation can be viewed here

In Canada, the only stand alone PGM producer is North American Palladium. After a telephone call with a company spokesperson, we learned that North American Palladium ships its concentrates approximately 800km from Northern Ontario to Sudbury, where there is excess capacity at the metallurgical complex. Pacific North West Capital’s River Valley Project is roughly 100km away from that same complex. Dr. Bill Stone, President of Pacific North West Capital, was previously the Vice President Exploration for North American Palladium.

Threats Facing Platinum and Palladium Supply

The majority of Platinum Group Metals (PGMs) are sourced from South Africa and Russia. Those two nations virtually control the industry.

Platinum Group Metals make up some of the most valuable and densest known elements in the world, with demand rising for their use in the auto industry to mitigate vehicle pollution as well as being used in the most valuable of jewellery.

With political tensions resembling that of the Cold War, and sanctions between Putin and Western Nations being thrown back and forth, consider Russia’s source of PGMs in jeopardy, particularly its palladium supply. Producing roughly 40% of the world’s palladium, Russia is the world’s largest producer.

The Wall Street Journal reported this past week, in a report titled Auto Demand Is Liable to Drive Platinum and Palladium Higher that,

“Signia Wealth investment strategist Gautam Batra reckons potential trade disruptions in Russia stemming from U.S. sanctions in reaction to the annexation of Crimea could push palladium prices to $1,000 an ounce.”

The WSJ continued,

“Furthermore, the nation [Russia] has traditionally held some of its mined palladium in government stockpiles, which it has then sold into the market, but many observers expect these reserves to be all but exhausted.”

South Africa is the world’s largest producer of platinum and the second largest palladium producer. It has produced 80% of the world’s platinum and 37% of its palladium. From a mining-friendly perspective, that country is a mess.

For starters, the South African government has proposed radical resource nationalism tax reform, including a proposed law that would see the state take an automatic 20% ownership in foreign mining ventures. Additionally, there has been deadly strikes from miners within the country in recent years. Furthermore, the WSJ reported this past week that,

“A strike in South Africa, now in its third month, has cost producers there upward of 500,000 ounces of platinum production and over 100,000 ounces of palladium production, according to analyst estimates.”

In respect to the South African platinum mine strikes, Business Insider reported in late January of this year, in a report titled “The World’s Three Largest Platinum Mines Are Going On Strike” that,

Mine workers in South Africa want their wages doubled. And that mine owners claim it is an “unaffordable” request. The article continued,

“Top three companies Anglo-American Platinum (Amplats), Impala Platinum (Implats) and Lonmin confirmed that the strike had begun at their operations in the platinum belt, northwest of Johannesburg.”

Business Insider stated in that same article,

“Fearing the strike could spark violence in a region where over 40 people were killed during a wildcat strike in 2012, mine owners began shuttering operations on Wednesday night.”

This leaves Canada poised to potentially become a secure, future source for some of the same key PGMs hosted at Pacific North West Capital’s 100% owned flagship project.

PFN’s River Valley Project has Quite a History

The River Valley Project mineral claims were optioned by PFN in 1998, following the discovery of highly anomalous PGM values in grab samples. The property was subsequently optioned by PFN to Anglo Platinum in 1999.

Anglo Platinum (the world’s largest primary producer of Platinum) continued to fund exploration under the terms of the option and joint venture agreement and invested roughly $22 million in the exploration, including approximately 500 drill holes on the property for a 50% stake in the joint venture. Joint venturing with the world’s largest primary producer of platinum was advantageous for PFN as it expedited development while mitigating dilution over the years.

In and around 2008/2009, Anglo Platinum cut off exploration dollars to their overseas projects (they are South African based) due to the global economic crisis.

“Out of Every Crisis Comes Great Opportunity”
– Jim Rogers

As a result of Anglo Platinum’s decision to cut off exploration dollars to overseas projects at the time, the River Valley Project sat relatively dormant until April 2011, when after negotiations, PFN’s CEO, Harry Barr and his team, successfully closed a transaction allowing PFN to acquire Anglo Platinum’s 50% stake in the River Valley JV giving PFN 100% of the project. The transaction issued 12% of PFN’s outstanding shares, (as of January 2011) to Anglo Platinum. Through its share ownership in PFN, Anglo Platinum could benefit on any future success of the River Valley Project.

After acquiring 100% of the project in 2011, PFN commenced a $5,000,000 exploration program on its River Valley Project.

That $5 million exploration program cost more than the entire market cap of PFN today. And PFN raised the money privately through management’s international database of investors.

Infrastructure

Given its location in the historic mining region of Ontario, access and infrastructure surrounding the River Valley Project is excellent. There is a paved highway from Sudbury to the River Valley Property and a skilled workforce is available in the region. It’s important to note that Sudbury already has a metallurgical complex, controlled by two international mining companies. PFN’s River Valley Project is roughly 100km away from the complex.

North American Producers are Limited at the Moment

In North America there are only two primary producers of Platinum Group Metals. In Stillwater Montana there is the Stillwater Mining Company and they control one of the richest platinum group metal projects in the world. This high grade deposit has two active mines within. Stillwater Mining Company has a market cap of roughly $1.78 billion.

It is noteworthy that approximately 3.5 years ago, Stillwater acquired an un-developed copper/pgm, bulk mineable deposit in Marathon Ontario in a deal worth approximately $118 million. They purchased the junior miner who owned it – and the rest of its assets – known as Marathon PGM, in that transaction.

At the time of the buyout, Stillwater’s CEO, Frank McAllister stated “This transaction offers significant value and upside potential to Stillwater shareholders, and as the Marathon PGM/Copper project is one of the few near-term PGM development opportunities on this continent, it solidifies our position as North America’s leading PGM producer.”
source: Dr. Bill Stone, President of Pacific North West Capital, was previously the Vice President Exploration for North American Palladium.

The PFN and Next Gen Connection

On March 7, 2014, it was reported in this press release that,

“Mr. Barr also reports that all members of the Board of Directors of Pacific North West Capital Corp. (“PFN”) exercise deemed control over the voting of the 3,844,445 common shares of N [Next Gen] that are held by PFN.”

Next Gen’s management is largely the same as the PFN team. Harry Barr is the CEO of both Next Gen and Pacific North West Capital.

Mr. Barr has over 30 years experience in the mining industry and has built teams to assist him in corporate finance, project acquisition, and exploration and development of mineral projects in 9 countries and 3 continents. As CEO he has guided his management teams to complete over 300 option joint venture agreements with major, mid-tier, and junior companies. Mr. Barr has raised over $250,000,000 to advance projects throughout 9 countries.

Why would Harry Barr get involved in the Medical Marijuana/Hemp Industries?

There are a couple key reasons.

Mr. Barr’s expertise in the mining industry is evident, but first and foremost, he is a venture capitalist. He seeks out opportunities in which growth is projected and aligns his interests and expertise if it makes sense. Obviously, his ability to raise substantial amounts of capital is an important asset that could be utilized in this new industry in need of ‘shirt and tie’ professionals.

Additionally, and perhaps most important, are his connections to the hemp farming industry. Roughly one hundred and fifty years ago, Mr. Barr’s ancestors began farming in the Ottawa Valley. The family farm, ran by his grandfather, was producing hemp, which was used primarily for rope.

At 23, a young Harry Barr graduated from the University of Guelph in Agribusiness and began a career that forged him into a global mining executive and financier. With Next Gen, Barr plans to incubate and mentor those legal marijuana and hemp companies that have the technical savvy, but require the business acumen that any new or expanding industry needs; be it fundraising, complex negotiation skills, capital markets expertise, public company administration or IPO’s.

On March 3, 2014, in reference to Next Gen, Barr explained to the Financial Press “We are looking at several proposals and intend to raise capital for the best of them in exchange for an equity interest, a sales royalty or both. I am confident we will be able to provide compelling returns for all parties, but in particular our Next Gen shareholders.”
source: NI 43-101 resource estimate in the Measured and Indicated and Inferred categories; and PFN has substantial ownership interest in Next Gen, a medical marijuana related-stock that is up several hundred percent since the start of the year.

Currently trading for less than a dime per share, Pacific North West Capital has roughly a $3 million market cap. The carrying costs for its River Valley Project are substantially lower than many other mineral assets we’ve featured. And with its 100% ownership in the River Valley PGM Project, PFN can actively seek out a JV partner, ideally a major, to help push it through to the next stage of development.

Throughout their careers, PFN management has completed near 40 option joint ventures with large mining companies across the globe, so they have the necessary experience. Additionally, Dr. Bill Stone, PFN’s President, was previously VP Exploration for the only stand alone PGM producer in Canada, which operates in the same Province as PFN does.

Risk v Reward

It is our belief that the junior mining industry has bottomed and there is substantial data supporting that argument. Furthermore, given the low valuations for many juniors, large miners and commodity investment organizations are actively seeking out acquisition targets and partnerships within the sector.

The Globe and Mail reported this past week that,

“One of the most aggressive deal makers in the mining industry has tapped the private equity markets to bankroll the launch of a new company in a bet that the resources industry is set to be revived.”

Mick Davis, the former Xstrata CEO, raised $2.5 billion from just five investors to form X2. The goal is to create a mid-tier mining and metals group and it is expected that another billion dollars will be added to its treasury shortly…

The Globe and Mail continued in its exclusive report,

“With ample funding in place, X2 is expected to move quickly on the acquisitions front. The company won’t say where it is looking, though the team has intimate knowledge of the mining scene in Australia, Canada and South Africa.”

There are residual and inherent risks involved with PFN, as is the case with most junior mining stocks. However, given all the data and information included in this report, PFN is a speculative investment opportunity we are willing to put our name behind.

We are biased towards Pacific North West Capital because they are an advertiser and we participated in the company’s recently completed private placement. We may also increase our share position in the company following the release of this report. Please take responsibility for practicing your own thorough and independent due diligence. Remember, past performance is not indicative of future performance. Just because many of Pinnacle Digest’s Featured Companies have performed well, doesn’t mean they all will.

This marks the initiation of our coverage on Pacific North West Capital (PFN:TSXV) (PAWEF:OTCQB) (P7J:Frankfurt). Its shares last traded at CDN$0.065. We will have further updates in regards to the PFN story over the coming weeks.

All the best with your investments,

PINNACLEDIGEST.COM

VISIT PACIFIC NORTH WEST CAPITAL ONLINE


River Valley PGM Project is 100% owned by Pacific North West Capital.

The project is under two Mining leases. The Mining Leases cover an area of 5381.1 hectares, including 4,756.2 hectares of Surface and Mining Rights and an additional 624.9 hectares of Mining Rights. The Mining Leases cover all of the NI43-101 mineral resources of the River Valley PGM Project.

Click on Image to Watch Resource Classification Animation for the River Valley PGM Project

PFN SEDAR FILINGS

Disclosure, Risks Involved and Information on Forward Looking Statements: Please read carefully before proceeding.

Important: Our disclosure for this report on Pacific North West Capital Corp. applies to the date this report was released to our subscribers (April 6, 2014) and posted on our website. This disclaimer will never be updated, even after we have sold all of our shares in Pacific North West Capital Corp..

PFN’s stock position in Next Gen may increase or decrease at any time. Its stock position in Next Gen, documented in this report, was as per a news release dated March 7, 2014. Since that time its share position in Next Gen may have changed.

All statements in this report, other than statements of historical fact must be considered forward-looking statements. These statements relate to future events or future performance.

Forward-looking statements are often, but not always identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget”, “scheduled”, and similar expressions. Much of this report on Pacific North West Capital Corp. is comprised of statements of projection. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.

Statements regarding mineral exploration operations and objectives are subject to constant risk, including, but are not limited to, the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals, volatility in stock price, the risks associated with uninsurable risks arising during the course of exploration, development and production.

Risks and uncertainties respecting mineral exploration companies are generally disclosed in the annual financial or other filing documents of those and similar companies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to any particular company, a number of risks relate to any statement of projection or forward statement.

PinnacleDigest.com is an online financial newsletter owned by Maximus Strategic Consulting Inc. We are focused on researching and marketing for junior resource and technology public companies. Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned anywhere in this report (specifically in regard to Pacific North West Capital Corp.). This report is intended for informational and entertainment purposes only! The author of this report, and its publishers, bear no liability for losses and/or damages arising from the use of this report.

Be advised, Maximus Strategic Consulting Inc., PinnacleDigest.com and its employees/consultants are not a registered broker-dealer or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer.

Never, ever, make an investment based solely on what you read in an online newsletter, including Pinnacle Digest’s online newsletter, or internet bulletin board, especially if the investment involves a small, thinly-traded company that isn’t well known.

Most companies featured in the Pinnacle Digest newsletter, and on our website, are paying clients of ours (including Pacific North West Capital Corp. – details in this disclaimer). In many cases, we own shares in the companies we feature. For those reasons, please be aware that we are extremely biased in regards to the companies we write about and feature in our newsletter and on our website.

Because Pacific North West Capital Corp. has paid us CDN$45,000 plus gst to provide our online advertising and marketing services, and we (Maximus Strategic Consulting Inc.) own shares and warrants in the company, you must recognize the inherent conflict of interest involved that may influence our perspective on Pacific North West Capital Corp.; this is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor and a registered broker-dealer before investing in any securities mentioned in our reports.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, its officers, directors, employees, and consultants shall not be liable for any damages, losses, or costs of any kind or type arising out of or in any way connected with the use of its products or services, including this report.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, its employees, consultants and affiliates are not responsible for any claims made by any of the mentioned companies or third party writers in this report. You should independently investigate and fully understand all risks before investing. We want to remind you again that PinnacleDigest.com is often paid editorial fees for its writing and the dissemination of material. The clients (including Pacific North West Capital Corp.) represented by PinnacleDigest.com are typically exploration-stage companies that pose a much higher risk to investors. When investing in speculative stocks of this nature, it is possible to lose your entire investment over time.

Set forth below is our disclosure of compensation received from Pacific North West Capital Corp. and an explanation of our stock ownership in the company:

Maximus Strategic Consulting Inc., owner of PinnacleDigest.com, has been paid CDN$45,000 plus gst to provide online marketing services for Pacific North West Capital Corp. for a pre-paid six month online marketing agreement. The company (Pacific North West Capital Corp.) has paid for this service. The service includes, but is not limited to, the creation and distribution of reports authored by PinnacleDigest.com about Pacific North West Capital Corp. (reports such as this one), as well as display advertisements and news distribution about the company on our website and in our newsletter. This is our first report on Pacific North West Capital Corp. We (Maximus Strategic Consulting Inc.) participated in Pacific North West Capital’s private placement (see company press release on March 25, 2014 for details). In that private placement we purchased 450,000 units. Each Unit consists of one common share at a price of $0.05 per Unit and one-half of one non-transferable share purchase warrant (“Warrant”). Each Warrant entitles us to purchase one additional common share of the Company for a period of 36 months from the closing date at a price of $0.10 per share during the first year, $0.20 per share during the second year and $0.30 per share during the third year. All subscribers who participated in the private placement, including Maximus Strategic Consulting Inc., entered into a voluntary *pooling agreement with Pacific North West Capital. The units we own are subject to a hold period expiring on July 26, 2014, four months and one day after the closing date. We (Maximus Strategic Consulting Inc. and its employees and consultants) may buy more shares of Pacific North West Capital Corp. following the release of this report. We (Maximus Strategic Consulting Inc. and its employees and consultants) intend to sell every share we own, as well as any shares we may purchase in the future, of Pacific North West Capital Corp. for our own profit. All shares we (Maximus Strategic Consulting Inc. and its employees and consultants) currently own or purchase in the future of Pacific North West Capital Corp. will be sold without notice to our subscribers. Please recognize that we are extremely biased when it comes to Pacific North West Capital Corp.

*The pooling agreement for the Private Placement entails that one quarter of our shares will become tradeable:

(i)on the date that is four (4) months and one (1) day from the date that the Private Placement closed
(ii) on the date that is seven (7) months from the date that the Private Placement closed
(iii) on the date that is ten (10) months from the date that the Private Placement closed
(iv) on the date that is thirteen (13) months from the date that the Private Placement closed

PinnacleDigest.com’s past performance is not indicative of future results and should not be used as a reason to purchase any security mentioned in this report or on our website.

Cautionary Note Concerning Estimates of Inferred Resources:
This report and supportive documents used in the research process of this report use the term “Inferred Resources”. U.S. investors are advised that while this term is recognized and required by Canadian regulations, the Securities and Exchange Commission 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 Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of “Inferred Resources” may not form the basis of feasibility or other economic studies. U.S. investors are also cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists, or is economically or legally mineable.

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

Maximus Strategic Consulting Inc. and PinnacleDigest.com (including its employees and consultants) are not chartered business valuators; the methods used by business valuators often cannot justify any trading price for most junior stock exchange listed companies. Pacific North West Capital Corp. is considered to be a junior stock exchange listed company.

Any decision to purchase or sell as a result of the opinions expressed in this report OR ON PinnacleDigest.com will be the full responsibility of the person authorizing such transaction, and should only be made after such person has consulted a registered financial advisor and conducted thorough due diligence.

Information in this report has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. Our views and opinions regarding the companies we feature on PinnacleDigest.com and in this report are our own views and are based on information that we have received, which we assumed to be reliable. We do not guarantee that any of the companies mentioned in this report (specifically Pacific North West Capital Corp.) or on PinnacleDigest.com will perform as we expect, and any comparisons we have made to other companies may not be valid or come into effect.

To get an up to date account on any changes to our disclosure for Pacific North West Capital Corp. (which will change over time) view our full disclosure at the url listed here: http://www.pinnacledigest.com/privacy-policy-terms-use-our-disclosure

Maximus Strategic Consulting Inc. is a distributor (and not a publisher) of content supplied by third parties and subscribers. Accordingly, Maximus Strategic Consulting Inc. has no more editorial control over such content than does a public library, bookstore, or newsstand. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, Subscribers or any other user of The Maximus Strategic Consulting Inc. Network of Sites, are those of the respective author(s) or distributor(s) and not of Maximus Strategic Consulting Inc. Neither Maximus Strategic Consulting Inc. nor any third-party provider of information guarantees the accuracy, completeness, or usefulness of any content, nor its fitness for any particular purpose.

Maximus Strategic Consulting Inc, owner of PinnacleDigest.com, does not undertake any obligation to publicly update or revise any statements made in this report.

Learn how to protect yourself and become a more informed investor at www.investright.org

SOURCE: http://www.pinnacledigest.com/articles/mining-and-medical-marijuana

Start your small cap medical marijuana research in the AGORACOM Small Cap Medical Marijuana Stocks Gateway
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks

Tags: , , , , ,
Posted in All Recent Posts, Medical Marijuana Stocks, Next Gen | Comments Off on Mining and Medical Marijuana

KWG Applauds Announcement of ONTC Developments

Posted by AGORACOM-JC at 5:42 PM on Friday, April 4th, 2014

TORONTO, ONTARIO–(April 4, 2014) – KWG Resources Inc. (TSX VENTURE:KWG) (“KWG”) is very encouraged that Minister of Northern Development and Mines Michael Gravelle earlier today announced his support for the development and renewal of the capacities of the Ontario Northland Transportation Commission.

“Around the globe, the recurring challenge of insuring the environmental and economic sustainability of bulk commodity extraction and processing – is transportation,” said KWG President Frank Smeenk. “One of the unique blessings of the location of the Ring of Fire discovery in Northern Ontario is the opportunity to exploit it with the multi-billion dollar legacy infrastructure assets of the Ontario Northland Railroad. This is very substantial capital that need not be spent or amortized in fixing very long term and large tonnage transportation costs. It is a huge competitive advantage.”

“The ONR has lost one freight customer after another in recent years, to the point where its survival became very questionable. The discovery of the Ring of Fire’s chromite deposits now promises to insure substantial bulk freight traffic for many generations. This can revive and expand the ONR. In fact, we have suggested that the Minister consider if the ONTC Act might be amended to become the Northland Development Corporation Act. This would be consistent with the ONTC’s original mandate and the Minister’s expressed desire to have new infrastructure requirements met by a focused development corporation.”

About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite occurrence where resources are being defined. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.

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.
Contact Information

KWG Resources Inc.
Bruce Hodgman
416-642-3575 Ext103
[email protected]

Tags: , , ,
Posted in KWG Resources | Comments Off on KWG Applauds Announcement of ONTC Developments

INTERVIEW: Stria Capital discusses revolutionary on-site processing technology for Tech-Grade Lithium

Posted by AGORACOM-JC at 11:49 AM on Friday, April 4th, 2014

Julien Davy, President and Chief Operating Officer of Stria Capital Inc discusses the company’s revolutionary on-site processing technology for Technology-Grade Lithium.

Stria is engaged in the acquisition and development of clean technology mineral properties in North America. It owns the Pontax Lithium Project in Northern Quebec, and the Willcox Lithium Project located in Cochise, Arizona.

Hub On AGORACOM / Corporate Website

Tags: , , ,
Posted in AGORACOM Via Satellite, All Recent Posts, Stria Capital Inc. | Comments Off on INTERVIEW: Stria Capital discusses revolutionary on-site processing technology for Tech-Grade Lithium

Magna Resources, Canada Jetlines and Petrichor Energy Inc. Featured on Episode 25 of The Next Biggest Winner TV Show This Weekend

Posted by AGORACOM-JC at 11:37 AM on Thursday, April 3rd, 2014

TORONTO, ONTARIO–(Marketwired – April 3, 2014) – The Next Biggest Winner, a leading and nationally televised investment show focusing on small-cap and mid-cap companies, is pleased to announce episode 25 will air this weekend.

Episode 25 Guests

Magna Resources Ltd. (CSE:MNA)

Canada Jetlines

Petrichor Energy Inc. (TSX VENTURE:PTP)

Mike Sieb, President of Magna Resources Ltd. joins us to discuss the Green River Potash Project. The Project boasts an Exploration Target projected to contain between 600 million and 1 billion tonnes of sylvinite with an average grade ranging between 19 and 29% eKCl. The Property is situated in the renowned Paradox Basin, host to the same geological setting as the United States’ sole solution mining potash operation called Cane Creek.

Jim Young, President and David Solloway, Chief Commercial Officer of Canada Jetlines take the stage to discuss the company’s new low cost carrier option.

Michael Pound, Corporate Development of Petrichor Energy Inc. joins us to discuss the company’s focus on acquiring, exploring and developing new oil and natural gas reserves in North and South America. The company has been developing its current properties, located in the southern United States, for the past three years.

PROUD SPONSORS

We are proud to announce that UC Resources and Pacific Potash will serve as anchor sponsors for all 30 episodes of Season 2.

In addition, Marketwired is the official Media Partner of The Next Biggest Winner and distributor of this press release.

NEW SEASON, NEW HOST

Season 2 promises to be even better than Season 1 with the addition of our new host, George Tsiolis. As the Founder of AGORACOM.com, George brings his significant knowledge and experience of small-cap markets to the show, insuring robust interviews and information for the benefit of our viewing audience.

Tsiolis stated “The Next Biggest Winner fills a significant void in Canadian Business Media by strictly focusing on emerging companies capable of becoming The Next Biggest Winner. Show creators Jamie Bailey and Metaphoria Productions smartly recognized there is no other nationally televised show of its kind and now provide small cap companies and investors everywhere with a great platform to connect. The production quality in our state of the art studio is second to none. I’m proud to be a Co-Producer for Season 2 and beyond!”

TELEVISION BROADCAST DETAILS

The show airs nationally on television via iChannel in prime time as follows:

WHEN: Saturday April 5th 7:30 PM EST (Also 8:30 AM & 3:30 AM)
Sunday April 6th 6:30PM EST (Also 7:30 AM & 2:30 AM)
WHERE: iChannel (See listing below or check iChannel for your local area)
http://www.ichannel.ca/the-next-biggest-winner/whats-on/
Bell Channel 514 Across Canada
Cogeco Channel 136 in Ontario and Quebec
MTS TV Channel 282 in Manitoba
Rogers Channel 197 in Ontario, Quebec, Nova Scotia, New Brunswick
Shaw Cable Channel 110 in BC / Channel 95 Everywhere Else
Shaw Direct Channel 593 (Classic) Channel 222 (Direct)
Source Cable Channel 174 Ontario
Telus TV Not Available Yet
Videotron Channel 146 in Quebec

About The Next Biggest Winner

The Next Biggest Winner is a television interview series for Canadian investors dedicated to identifying companies poised for growth. If your company believes it is The Next Biggest Winner and would like to appear on the show, please contact us below.

To watch a sneak peek of this episode, as well as, previous full episodes click here.

Contact Information

 

Metaphoria Productions
Jamie Bailey
Creator and Producer
[email protected]

AGORACOM
http://agoracom.com/services

Tags: , , , , ,
Posted in AGORACOM Next Biggest Winner | Comments Off on Magna Resources, Canada Jetlines and Petrichor Energy Inc. Featured on Episode 25 of The Next Biggest Winner TV Show This Weekend

KWG Testing Indicates New Ferrochrome Refining Method

Posted by AGORACOM-JC at 12:36 PM on Wednesday, April 2nd, 2014

TORONTO, ONTARIO–(April 2, 2014) – KWG Resources Inc. (TSX VENTURE:KWG) (“KWG”) is pleased to report that further laboratory tests on the reduction of the Black Horse chromite using natural gas have been completed. The results of these tests provide substantial encouragement that the newly developed method may be utilized to convert the Black Horse chromite into a metallised chrome and iron alloy. During these tests by XPS Consulting & Testwork Services – a Glencore Company, this chromite, blended with suitable solid carbon as reductant, was reduced in the solid state at atmospheric pressure in the presence of reformed natural gas to produce the alloy.

Reactions commenced at 900°C when a suitable accelerant was used to enhance the reactions – substantially lower than is usual for chromite ores. In addition, the time required for the reductants to convert the oxide ore to alloy was substantially less than one hour – much faster than established direct reduction methods have produced.

Based on these tests only, preliminary estimates provided in a report indicate that very substantial energy savings result. The study suggests that overall direct energy costs to process one tonne of concentrate into metallized ferrochrome alloy are less than half those required for conventional technology. In addition, the process has a considerably lower greenhouse gas emission footprint and greatly reduced impact on the environment. Capital costs are estimated to be significantly lower than those for conventional processes utilizing electrical energy. As previously reported, an international patent of the method is being pursued.

About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite occurrence where resources are being defined. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.

Arthur Barnes FSAIMM, Principal Consultant at XPS Consulting & Testwork Services – a Glencore Company together with M. J. (Moe) Lavigne, P. Geo., Vice-President of Exploration & Development for KWG, are the Qualified Persons who have reviewed and approved the contents of this release.

The Company also reports that the news release of the private placement completed on March 26, 2014, failed to disclose that finder’s fees included a payment in cash of $2500 and a compensation option entitling its holder to purchase 20,000 common shares of KWG at a price of $0.05 during a three-year period.

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.

Cautionary Note Regarding Forward‐Looking Statements: This Press Release contains or refers to “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. All information, other than information regarding historical fact that addresses activities, events or developments that KWG believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this Press Release is subject to a number of risks and uncertainties that may cause the actual results of KWG to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, KWG. Should one or more of these risks and uncertainties (such as: the actual results of current exploration programs, the general risks associated with the mining industry, adverse changes in commodity prices, currency and interest rate fluctuations, increased competition and general economic and market factors, the risk that the new method of reducing chromite ore into ferrochrome by means of natural gas that is the subject of the laboratory tests and patent application does not prove efficient or economical, the scope, likelihood of grant, enforceability, infringement, freedom to operate, and commercial value relating to the patent applications to be used to support the commercialization of the gas reduction process, the grant or approval of a patent on any invention disclosed in the patent applications relating to the commercialization of the gas reduction process, and any expected benefit of commercialization relating thereto, that overall direct energy costs to process one tonne of concentrate into metallized ferrochrome alloy will not be less than half those required for conventional technology, the process will not have a considerably lower greenhouse gas emission footprint and greatly reduced impact on the environment, or that capital costs will not be significantly lower than those for conventional processes utilizing electrical energy) occur, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.

Shares issued and outstanding: 750,312,273

Contact Information

  •  
    KWG Resources Inc.
    Bruce Hodgman
    Vice-President
    416-642-3575 Ext 103
    [email protected]

Tags: , , , , ,
Posted in KWG Resources | Comments Off on KWG Testing Indicates New Ferrochrome Refining Method

Liberty Star Receives Expanded ZTEM Report Over Tombstone Super Project

Posted by AGORACOM-JC at 9:31 AM on Wednesday, April 2nd, 2014

TUCSON, Ariz. — Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce geophysics contractor Geotech Ltd. has delivered a ZTEM report covering the Tombstone Super Project (TSP) for porphyry copper, gold, molybdenum, rare earth elements and other metals in southeast Arizona. The report covers approximately 130 square miles including the Company’s Hay Mountain Project.

The ZTEM report will allow further appraisal of seven mineral targets located outside of the Hay Mountain geochemical survey area (2012) identified by CEO/Chief Jim Briscoe and other geological analysts. Further analysis by Geotech’s experts and Briscoe working in concert could yield additional information and refinement on the seven targets and identify additional targets beneath cover.

Briscoe states: “The expanded ZTEM report will allow Liberty Star to correlate surface features with exploration to great depth in the Tombstone caldera and identify the location of additional targets. Along with the Hay Mountain analysis, the new ZTEM report indicates that the Tombstone caldera holds the potential for hosting commercial grade mineralization in line with the known and assumed mineral wealth of the region which encompasses southeast Arizona and northern Mexico. We continue seeking well-funded, knowledgeable partners to help us with a drilling program to begin measuring the potential of Hay Mountain, as drilling is the next step there. There is good potential for further partnerships in the Tombstone Super Project at large.”

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.

Forward Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include our exploration plans, that we have seven mineral targets, that we have the potential for commercial grade mineralization on our property, and that the next step is drilling. Factors which may delay or prevent these forward-looking statements from being realized include: we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; misinterpretation of data is possible; and we may be unable to continue exploration due to permitting requirements, weather, logistical problems, labor or equipment problems or hazards even if funds are available. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.

Follow Liberty Star Uranium & Metals Corp. on Facebook , LinkedIn & Twitter @LibertyStarLBSR

Contacts

Agoracom Investor Relations
[email protected]
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
[email protected]

Tags: , , ,
Posted in Liberty Star Uranium and Metals | Comments Off on Liberty Star Receives Expanded ZTEM Report Over Tombstone Super Project

Pacific Potash Corp Provides Corporate Update

Posted by AGORACOM-JC at 9:22 AM on Friday, March 28th, 2014

VANCOUVER, BRITISH COLUMBIA – March 28th 2014 / Pacific Potash Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, “Pacific Potash”, “the Company”) is pleased to provide a corporate update regarding its Amazonas Potash Project in Brazil.

As released prior, in the Company’s January 21st news release, Pacific Potash has completed drilling its first well on its 100% owned Amazonas Potash Project. The well was drilled to a total depth of 1421m, and in total 960m of core has been obtained from the well. The core has been cut, logged and prepared for assaying.

Core Samples and Assays

Pacific Potash reviewed Brazil for an assay lab to complete the analysis of the core samples, however it found that there are no existing Brazilian labs equipped to assay for evaporites.

As a result of these findings, Management has decided to ship the core samples out of Brazil for analysis, and the Company’s Brazilian subsidiary is in the last phase of receiving the required export permit from the Brazilian Government to ship the core samples to Canada. The process of obtaining the export permit has been complicated by the DNPM’s delay in transfer title for the potash claims from a 3rd party to the Company. The transfer request has been over two years in processing and during this time the Brazilian Government had a moratorium on claim transfers while awaiting the unveiling of the country’s new mining laws. The 3rd party company’s consent was required for the government to process Pacific Potash’s export permit. The Company now has that consent in hand and expects the export permit to be issued shortly.

Pacific Potash has selected Acme Analytical Laboratories Ltd in Vancouver to complete the assays. Assay results will be released when received.

Memorandum of Understanding

The Company’s cornerstone investor and strategic advisor, Capital Asia continues to assist Pacific Potash in discussions with China’s state owned enterprise (“S.O.E”), as the S.O.E. advances toward a final decision with respect to providing the Company with $10 million in the form of an unsecured convertible debenture. Both parties are working diligently to complete their obligations and continue to work in good faith to complete due diligence. As previously disclosed, the parties intend that the $10,000,000 convertible debenture would convert into shares of Pacific Potash at a conversion price of $0.37 per common share. The S.O.E.’s aggregate beneficial ownership in the Company will not exceed 19.9% of the common shares of Pacific Potash at the time of exercise of these conversion rights. The Convertible Debenture shall bear interest at the rate of 5% per annum, payable semi-annually and share mature on the date which is two (2) years from the date of issuance.

We Seek Safe Harbor.

On behalf of the Board,

Pacific Potash Corporation

Balbir Johal

Executive Co-Chairman, Director & CEO

For further information, please visit our website at www.pacificpotash.com or +1 604.895.7446.

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.

Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

Tags: , , ,
Posted in Pacific Potash | Comments Off on Pacific Potash Corp Provides Corporate Update

AGORACOM Welcomes Stria Capital with a New Source and New Process For Technology Lithium

Posted by AGORACOM-JC at 10:49 AM on Wednesday, March 19th, 2014

Why Stria Capital?

  • Aiming to become one of the lowest cost producers in the world for battery- grade technology lithium — critical for high-technology green energy industries.
  • Management is key. Stria has assembled a truly world-class, experienced and accomplished team.
  • Stria’s strategic, cost-effective exploration substantially reduces the risks and expenditures of exploration by focusing on deposits that are readily available to advance.
  • Stria’s unique and extensive experience in understanding and utilizing the latest, most-advanced geophysical tools affords the Company a competitive edge within the industry.
  • The lithium market remains robust with tremendous upside potential versus other metals.

 

A New Source, a new process for technology lithium

 

Several foreign nations are already stockpiling materials critical to the emerging green technology economy, which means a reliable North American supply of high quality lithium-based products has never been more urgent. At Stria, we believe Canada has a key role to play in the green tech economy, and we plan to be a part of it by carving out a supply and technology niche in the critical and strategic metals world.

The Stria strategy …

Stria, through a business plan combining strategic alliances and property acquisition, aims to be among an elite group of Canadian producers helping to drive the clean tech economy through the provision of a dependable supply of “home-grown” lithium carbonate and through innovative mineral processing and purification technologies for primary lithium-spodumene ore.

Pontax-Lithium property …

Stria holds 100 per cent ownership of the Pontax-Lithium property located in the west-central James Bay territory in northern Quebec.

The property, which Stria acquired from Khalkos Exploration Inc. in 2013, is host to a recently discovered swarm of a dozen spodumene-bearing (a lithium mineral) pegmatite dikes, each one metre to 10 metres in thickness, plus a series of small centimetre-thick dikelets.

The lithium-bearing dikes outcrop over an area of 450 metres by 100 metres (for more information, click here to view the NI-43-101 Technical Report (Girard,2013) on the Pontax-Lithium Property).

Close-up view of Pontax’s spodumene-bearing pegmatite. The light grey spodumene is idiomorphic and lath-shaped. The intergranular grey mineral is quartz.


Willcox Lithium / Arizona

Stria holds 100 per cent ownership of the Willcox Lithium project, located in Cochise County, Arizona. Acquired through the purchase of Pueblo Lithium LLC from AGR-O Phosphate Inc. in 2014, the property is comprised of 61 lode mining claims.

Willcox Playa is located a few kilometres south of the city of Willcox in north-central Cochise County, 120 km east of Tucson. This barren flat — elevation 1,260 metres (approx. 4,136 feet) — is the lowest part of Willcox basin, which is the northern end of Sulphur Springs Valley. The location is known for its lithium content, and Willcox Playa was part of the U.S. Geological Survey’s 1978 drill program testing lithium distributions in the late Cenozoic sedimentary basin.


 

Tags: , , , ,
Posted in AGORACOM Clients (New), All Recent Posts, Stria Capital Inc. | Comments Off on AGORACOM Welcomes Stria Capital with a New Source and New Process For Technology Lithium

Garibaldi broadens mineralized corridor at Grizzly, prepares to accelerate 2014 exploration plans

Posted by AGORACOM-JC at 6:05 PM on Thursday, March 13th, 2014

Garibaldi broadens mineralized corridor at Grizzly, prepares to accelerate 2014 exploration plans

TSXV: GGI, OTC: GGIFF, Frankfurt: RQM

VANCOUVER, March 13, 2014 – Garibaldi Resources Corp. (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to report that recent reconnaissance work carried out over western portions of its Grizzly Property in the Sheslay Valley, northwest British Columbia, has identified a new zone of porphyry copper mineralization 3 km south of its Grizzly West porphyry target and 3 km west-southwest of Prosper Gold Corp.’s Pyrrhotite Creek prospect in an area referred to as West Kaketsa. Garibaldi is the largest landholder among juniors in the Sheslay district and controls approximately 26,200 hectares in claims. The results of this program suggests potential to significantly broaden a NW/SE trending corridor of porphyry targets that extends for over 30 km through the Sheslay Valley from the western end of the Grizzly Property through Grizzly Central to the recently announced Grizzly East expansion claims.

Given highly encouraging results in the western and central parts of the Grizzly Property, Garibaldi is accelerating its 2014 plans at the Grizzly by launching an aggressive Phase 1 exploration program to include detailed mapping, geochemistry, IP surveys and drilling. The initial stages of this work will commence in the next few weeks and the results will determine the scale of a planned Phase 2 program. Garibaldi is in a strong working capital position and is looking forward to advancing the Grizzly Project concurrently with its assets in Mexico.

“The importance of the discoveries recently announced by Prosper Gold and Doubleview Capital Corp., located approximately 10 km apart on properties within the Sheslay corridor, is the scale of mineralization over such wide distances. Confirmation of another significant porphyry target area several km south of Grizzly West underscores the world class potential of this growing mineralized Cu-Au porphyry corridor in the Sheslay Valley,” explained Steve Regoci, Garibaldi President and CEO. “Garibaldi has captured more than 50% of this very prospective corridor with multiple targets already identified from Grizzly West to Grizzly Central through geophysical and geochemical surveys. We’re very excited about advancing the Grizzly to a first-ever drilling stage.”

West Kaketsa Mineralization Similar To Grizzly West, Pyrrhotite Creek

The extent of the newly discovered mineralized area at West Kaketsa is yet to be determined but it’s located approximately 1 km north of the historic West Kaketsa prospect (B.C. Minfile # 104J-024) and appears to be related to a fault that extends at least 3 km to Pyrrhotite Creek on the eastern flank of Mount Kaketsa. Garibaldi’s upcoming program at the Grizzly Property includes plans to further define this new zone with IP surveys and identify potential drill targets.

Petrographic analysis of mineralization from both the West Kaketsa and Grizzly West prospects has confirmed that both areas exhibit classic porphyry-style copper-gold mineralization including hydraulic brecciation, disseminated chalcopyrite and intense alteration within a hydrothermal environment. Garibaldi’s reconnaissance work identified the new mineralized zone while following up on an encouraging airborne magnetic and radiometric survey completed last fall over western portions of the Grizzly Property.

The airborne survey confirmed that West Kaketsa, like Grizzly West, is in a region of strong magnetic activity and structure, the latter indicating faults and fractures in the intrusive bodies favorable for mineralizing fluids along the contact zones of the Mount Kaketsa monzonite granodiorite stock. Historic technical reports describe porphyry mineralization at West Kaketsa as being similar to mineralization observed at Pyrrhotite Creek. Prosper Gold has reported that Pyrrhotite Creek is a large mineralized zone with multiple porphyry targets located 3 km southwest of the Star porphyries in the SW corner of its Sheslay Property adjoining the Grizzly.

Grizzly West

Last fall’s airborne survey shows that Grizzly West is on the periphery of a large magnetic anomaly, in a similar setting to targets on the adjoining Sheslay Property. A soil geochemical survey has defined several strong copper anomalies open in multiple directions at Grizzly West with the grid covering an area approximately 1.5 km x 1.5 km. Fieldwork at this target has confirmed historical reports (Corona Resources) of mineralization with reported grades ranging from 0.20% Cu to 6.7% Cu in rock chip samples.

Maps – West Kaketsa & Grizzly West

Maps showing location, sampling areas and full results from recent work completed at West Kaketsa and Grizzly West are available on the Garibaldi web site at www.GaribaldiResources.com.

To view a 2.5-minute video on the Grizzly Property and the Sheslay Valley, please visit the following URL: http://www.garibaldiresources.com/s/Media.asp#video1

Qualified Person

Carl von Einsiedel, P.Geo., a non-independent geological consultant and a Qualified Person as defined by NI-43-101 has reviewed this release and approved the content thereof.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

SOURCE Garibaldi Resources Corp.

GARIBALDI RESOURCES CORP.
1150 – 409 Granville Street
Vancouver, BC V6C 1T2
Telephone: (604) 488-8851 Website: www.GaribaldiResources.com

Tags: , , ,
Posted in Garibaldi Resources | Comments Off on Garibaldi broadens mineralized corridor at Grizzly, prepares to accelerate 2014 exploration plans

Lomiko Metals Inc. Closes Financings for Gross Proceeds of $5,520,800

Posted by AGORACOM-JC at 9:09 AM on Thursday, March 13th, 2014

VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO–(March 13, 2014) – LOMIKO METALS INC. (TSX VENTURE:LMR) (the “Company” or “Lomiko”) is pleased to announce that it has successfully completed its previously announced public offering (the “Public Offering”) in connection with the short form prospectus of the Company dated March 6, 2014 (the “Prospectus”).

Under the Public Offering, 26,584,180 units of the Company (the “Units”) were sold at a price of $ 0.11 per Unit and 4,627,000 units of the Company (the “Flow-Through Units”) were sold at a price of $0.13 per Flow-Through Unit.

Each Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant being a “Unit Warrant”). Each Flow-Through Unit consists of one Common Share to be issued on a “flow-through” basis within the meaning of the Income Tax Act (Canada) (each a “Flow-Through Share”) and one-half of one common share purchase warrant (each whole warrant being a “Flow-Through Unit Warrant”).

Each Unit Warrant entitles the holder thereof to purchase one common share of the Company (the “Unit Warrant Shares”) at a price of $0.15 per Unit Warrant Share at at any time before the date that is 18 months following the closing date of the Public Offering. Each Flow-Through Unit Warrant entitles the holder thereof to purchase one common share of the Company (the “Flow-Through Unit Warrant Shares”) at a price of $0.20 per Flow-Through Unit Warrant Share at at any time before the date that is 18 months following the closing date of the Public Offering.

In consideration for services rendered in connection with the Public Offering, the Company has paid a cash commission equal to 8% of the gross proceeds received from the sale of the Units and the Flow-Through Units and the Company granted 1,872,671 compensation options, with each compensation option being exercisable to purchase one common share of the Company for a period of 18 months following the closing date of the Public Offering, at a price of $0.11 per common share. Total commission and fees related to the Units and the Flow-Through Units under the Prospectus were $381,780.83.

An overallotment provision granted under the Prospectus was not utilized and is now extinguished.

The Company is also pleased to announce the closing of its previously announced concurrent non-brokered offering by issuing 15,346,231 flow-through units (the “Private Placement Units”) for additional gross proceeds of $1,995,010.03 (the “Private Placement”). The securities underlying the Private Placement Units were issued on the same terms as the securities underlying the Flow-Through Units that were issued under the Public Offering. In connection with the Private Placement, the Company paid a finder’s fee of 8% in cash and issued 920,774 compensation options, with each compensation option being exercisable to purchase one common share of the Company for a period of 18 months following the closing date of the Private Placement, at a price of $0.13 per common share. Total commission and fees related to Private Placement Units were $194,600.80.

The net proceeds from the Public Offering of $3,143,988.97 and the Private Placement of $1,800,409.23 will be used by Lomiko primarily in connection with the exploration program on the Quatre-Milles East and West mineral properties (Quebec), for business development and for working capital and general corporate purposes. In particular, the proceeds of the flow-through shares under the Public Offering and the Private Placement will be used by the Company to incur eligible Canadian Exploration Expenses as defined by the Income Tax Act (Canada).

The Units, the Flow-Through Units and the Private Placement Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons unless the Units, the Flow-Through Units and the Private Placement Units are registered under the 1933 Act or pursuant to an applicable exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell, nor it is a solicitation of an offer of securities, nor shall there be any sale of securities in any state of the United States in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board OF LOMIKO METALS INC.

A. Paul Gill, CEO & Director, Lomiko Metals Inc.

Neither 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.

Lomiko Metals Inc.
(778) 228-1170
(604) 583-1932
[email protected]
www.lomiko.com

Tags: , , ,
Posted in Graphite, Lomiko Metals | Comments Off on Lomiko Metals Inc. Closes Financings for Gross Proceeds of $5,520,800

« Older Entries
Newer Entries »