Strategic Minerals listed on London AIM is the one to really watch this year
This is a "proper AIM company" that is actually delivering on its strategy and should turn in some spectacular figures as production ramps up the Cobre stockpile operation
Well done to James and Paul who are driving the business and who have got properly stuck in to deliver real value to shareholders. With plenty of stockpiles around the world that need asset management and value release, then SML has a great future as turnkey solutions provider.
See below
Strategic Minerals, a magnetite iron ore producer and exploration company, has raised 4.2m pounds before expenses through the placing of around 102.67m new ordinary shares at 4.5p each.
The funds mean the company is now fully financed for its current operations.
The proceeds will mostly be used to provide working capital for the company's magnetite tailings deposit at the Cobre Mine in New Mexico, which is now in full scale production.
The group revealed it is "well positioned" to achieve shipments in the export market of around 50,000 dry metric tonnes (DMT) and said the first of these, of 53,000 DMT, is currently being loaded at the port of Guaymas.
Paul Harrison, Chief Executive Officer of Strategic Minerals, said: "We are delighted to announce this successful placing and in particular the interest shown by new institutional investors participating in this financing. The funding will be used primarily to meet the working capital needs of our operations at the Cobre mine in New Mexico including inside mine gate costs, rail freight to port and all port costs at Guaymas.
"This funding will ensure that monthly export shipments can proceed uninterrupted and leaves the company fully financed for all of its current operations."
Once the new shares have been admitted to AIM, the company will have just under 550.83m shares in issue.
The share price fell 11.91% to 5.17p by 13:45.
Friday 31 May 2013
Brazilian Gold Corp BGC TSXV Receives Bid Offer
VANCOUVER, British Columbia --
Brazilian Gold Corporation (TSXV: BGC) (“Brazilian Gold” or “BGC”) is pleased to announce that it has signed an indicative, non-binding and conditional letter of intent (“LOI”) with Kingwell Group Limited (“Kingwell”) pursuant to which Kingwell may make a general cash offer to the shareholders of BGC for not less than 50.95% of the outstanding common shares of BGC at a price of Cdn$0.27 per share (the “Possible Acquisition”).
Kingwell is a company incorporated in the Cayman Islands and whose shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”) under stock code 1195.
BGC has granted Kingwell the exclusive right to negotiate with BGC for the Possible Acquisition for a period of three weeks from the execution of the LOI, provided that BGC may extend such three week period to a later date (the “Exclusivity Period”). During the Exclusivity Period, BGC has agreed not to solicit nor entertain other proposals, conduct any discussions or negotiations, nor enter into any agreement or arrangement with any third party relating to any acquisition of BGC common shares.
The LOI is subject to, among other things, a due diligence review by Kingwell on BGC and its assets and the negotiation and execution of a definitive agreement between BGC and Kingwell containing customary terms, including representations and warranties, as are standard in a transaction of this nature. In the event that a definitive agreement is executed between the parties, the closing of the Possible Acquisition will be subject to additional conditions precedent including, but not limited to, HKEX and Kingwell shareholder approval and other consents and requirements as are required by the applicable governing laws.
BGC will issue further information about the Possible Acquisition in the near future. However, there is no obligation on the part of either BCG or Kingwell to consummate a transaction relating to a Possible Acquisition or enter into a definitive agreement.
No definitive agreement has been reached between BGC and Kingwell and there can be no assurances that any transaction relating to a Possible Acquisition or otherwise will result, or as to the terms thereof.
Brazilian Gold Corporation (TSXV: BGC) (“Brazilian Gold” or “BGC”) is pleased to announce that it has signed an indicative, non-binding and conditional letter of intent (“LOI”) with Kingwell Group Limited (“Kingwell”) pursuant to which Kingwell may make a general cash offer to the shareholders of BGC for not less than 50.95% of the outstanding common shares of BGC at a price of Cdn$0.27 per share (the “Possible Acquisition”).
Kingwell is a company incorporated in the Cayman Islands and whose shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”) under stock code 1195.
BGC has granted Kingwell the exclusive right to negotiate with BGC for the Possible Acquisition for a period of three weeks from the execution of the LOI, provided that BGC may extend such three week period to a later date (the “Exclusivity Period”). During the Exclusivity Period, BGC has agreed not to solicit nor entertain other proposals, conduct any discussions or negotiations, nor enter into any agreement or arrangement with any third party relating to any acquisition of BGC common shares.
The LOI is subject to, among other things, a due diligence review by Kingwell on BGC and its assets and the negotiation and execution of a definitive agreement between BGC and Kingwell containing customary terms, including representations and warranties, as are standard in a transaction of this nature. In the event that a definitive agreement is executed between the parties, the closing of the Possible Acquisition will be subject to additional conditions precedent including, but not limited to, HKEX and Kingwell shareholder approval and other consents and requirements as are required by the applicable governing laws.
BGC will issue further information about the Possible Acquisition in the near future. However, there is no obligation on the part of either BCG or Kingwell to consummate a transaction relating to a Possible Acquisition or enter into a definitive agreement.
No definitive agreement has been reached between BGC and Kingwell and there can be no assurances that any transaction relating to a Possible Acquisition or otherwise will result, or as to the terms thereof.
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