Key Developments: San Gold Corp (SGRCF.PK)
0.12USD
22 May 2013
$-0.00 (-1.08%)
$0.12
$0.12
$0.12
$0.11
408,162
171,642
$1.53
$0.11
Latest Key Developments (Source: Significant Developments)
San Gold Corp Updates On FY 2013 Production Guidance
San Gold Corp announced that the Company is on track to produce 75,000 and 90,000 in fiscal 2013, at cash costs of between $800 and $900. Full Article
San Gold Corp Appoints Ian Berzins as President and CEO
San Gold Corp announced that its Board of Directors has appointed Chief Operating Officer Ian Berzins as the Company's President and Chief Executive Officer(CEO). Mr. Berzins replaces George Pirie, who served as President and CEO since December of 2010. Full Article
San Gold Corp Announces Closing Of $50 Million Offering Of Convertible Debentures
San Gold Corp announced that it has closed its previously announced bought deal offering (the Offering) of 8.00% convertible unsecured subordinated debentures due March 31, 2018 of the Company with a syndicate of underwriters (collectively, the Underwriters) co-led by Scotiabank and CIBC, and including BMO Capital Markets, TD Securities Inc., Dundee Securities Ltd., National Bank Financial Inc. and Mackie Research Capital Corporation. At the closing of the Offering, the Company issued $50,000,000 aggregate principal amount of Debentures. The Debentures will trade on the Toronto Stock Exchange under the symbol SGR.DB. The net proceeds of the offering will be used to fund continued development of the Company's mineral properties, in particular the Rice Lake Complex, and for general working capital purposes. The Underwriters have been granted an over-allotment option to purchase up to an additional $7,500,000 aggregate principal amount of Debentures, exercisable in whole or in part at any time up to 30 days from the date hereof. This over-allotment option has not been exercised as at the time of this press release. Full Article
San Gold Corp Announces $50 Million Offering Of Convertible Debentures
San Gold Corp announced that it has entered into an agreement with a syndicate of underwriters co-led by Scotiabank and CIBC under which they have agreed to act as underwriters to purchase, on a bought deal basis, 50,000 convertible unsecured subordinated debentures (the Debentures) of the Company at a price of CAD1,000 per Debenture, for total gross proceeds of CAD50 million (the Offering). The Underwriters have been granted an option (the Option) to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days following the closing of the Offering, which is scheduled to occur on or about March 6, 2013 .The net proceeds of the offering will be used to fund continued development of the Company's mineral properties and for general working capital purposes.. Full Article
San Gold Corp Issues FY 2013, 2014 And 2015 Production Guidance
San Gold Corp announced that it expects production of between 85,000 to 95,000 ounces of gold with cash costs of under $800 an ounce for fiscal 2013; 95,000 to 105,000 ounces of gold for fiscal 2014 and 105,000 to 115,000 ounces of gold for fiscal 2015. Full Article
San Gold Corp Closes Purchase of Properties from Opawica Explorationsom Opawica Explorations
San Gold Corp announced the closing of its previously announced purchase of a 100% interest in three mineral properties from Opawica Explorations Inc. (Opawica). Full Article
San Gold Corp Issues FY 2012 Production Guidance
San Gold Corp announced that for fiscal 2012, it expects production of between 95,000 and 105,000 ounces of gold. Full Article
Harvest Gold Corp. Sells CUD 3 Claim To San Gold Corp
Harvest Gold Corp. announced that it has reached terms with San Gold Corp. to sell its CUD 3 claim. The CUD 3 claim is located in the Rice Lake Gold Belt, 250 km northeast of Winnipeg, Manitoba, where San Gold is producing gold at the Rice Lake mine in Bissett. The terms of the agreement are that San Gold will acquire 100% of the CUD 3 claim in return for a payment of $225,000 to Harvest Gold, and that San Gold will pay the further sum of $225,000, if, and when, any gold is produced from the CUD 3 claim. Full Article
San Gold Corp. Signs Financing And Option Agreement With Canadian Arrow Mines Ltd
San Gold Corp. announced that it has entered into an option agreement with the Canadian Arrow Mines Ltd. (Canadian Arrow) properties located northeast of Rainy River, Ontario. The Agreement gives San Gold an 80% undivided interest in all precious metals including, but not limited to, gold and silver but specifically excluding platinum and palladium (the Precious Metals), contained on Canadian Arrow's current properties. The rights to all other mineral resources including, but not restricted to, base metals, platinum and palladium remains with Canadian Arrow. San Gold has agreed to, among other things, purchase 5,000,000 units of Canadian Arrow at price of $0.10 per unit. Each unit will be comprised of one common share in the capital of Canadian Arrow and a half of one share purchase warrant. Each full warrant will entitle San Gold to purchase one common share in the capital of Canadian Arrow for an exercise price of $0.20 for a period up to two years from the date of the issuance of the warrant. In addition San Gold is also required to incur an aggregate $1,500,000 in expenditures on the properties graduated over four years from the date of execution of the Agreement. Upon completion of San Gold's obligations under the Agreement, San Gold will earn an 80% interest in all Precious Metals contained on the properties and a joint venture will be formed between San Gold and Canadian Arrow. Initial ownership in the joint venture will be San Gold 80% and Canadian Arrow 20%. Full Article
San Gold Corp. And Opawica Explorations Inc. Enter Into Purchase And Sale Agreement For Properties
Opawica Explorations Inc.announced that it has entered into a Purchase and Sale Agreement providing for the sale of three of its properties to San Gold Corporation (San Gold). The properties to be sold by Opawica to San Gold are the Atikwa Lake gold property, near Kenora, Ontario, the Whitesides-Carscallen property and the Golden property, both located in the West Timmins gold camp, Ontario. San Gold will pay Opawica total consideration of 9,925,000 shares of San Gold to purchase the above-noted properties. Following closing of the transaction, Opawica will focus its exploration efforts on its 100% owned Bro Property, Yukon. Full Article
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