52 Week Range
As of on the TSX Venture Exchange ∙ Minimum 15 minute delay
Belmont Resources Inc:Arranges private placement to raise C$500,000.The Company will be issuing 10.0 million units at $0.05.Each unit will consist of one common share and one two year transferable share purchase warrant.Each full warrant will entitle the holder to purchase one additional common share of the company for a period of two years at a price of $0.08 in the first year and $0.10 in the second year.
Belmont Resources Inc:Appointed Sylvain Laberge of Chambly, Quebec to position of chief executive officer.Vojtech Agyagos will continue as president and chairman of board of directors and Gary Musil, chief financial officer/director.
Belmont Resources Inc:Says it is arranging a non-brokered private placement to raise up to $600,000.Says it will be issuing 5.0 million units at $0.12.Says each unit will consist of one common share and one two year transferable share purchase warrant.Says each full warrant will entitle the holder to purchase one additional common share of the Company for a period of two years at a price of $0.18 per share.
Canada Stockwatch News reported that Belmont Resources Inc. has entered into a property option agreement to acquire four groups of mineral claims (51 claims), representing 2,254.27 hectares located in the Berthiaume, Orvilliers and Joutel townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone belt of Northwestern Quebec. Terms of the acquisition are: $25,000 upon execution of the agreement; 250,000 common shares and an additional $25,000 within 10 days of regulatory approval; a further 250,000 common shares and an additional $50,000 within one year; a further 500,000 common shares and an additional $50,000 within two years; a 2% net smelter royalty with the right to purchase one-half of 1% for the sum of $1 million prior to bankable feasibility.
Canada Stockwatch News reported that Belmont Resources Inc. is increasing the non-brokered private placement financing announced in Stockwatch news on February 8, 2011, from $300,000 to raise up to $395,000. The sale of up to 5.25 million units at $0.075 per unit, each unit will comprise one common share and one non-transferable common share purchase warrant. One warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of two years at a price of $0.10 per share in the first year and $0.15 per share in the second year from issuance. The Company intends to utilize the proceeds of the private placement for general working capital and further property acquisitions. The Company will pay an 8%finder's fee or commission in accordance with the policies of the TSX Venture Exchange.
Belmont Resources Inc. and Dorex Minerals Inc. announced that they have commenced a minimum 2,450 meter drilling program on the Lumby/Bufo Property consisting of 23 contiguous claims (3,040 ha) located approximately 35 km northeast of the town of Atikokan, Ontario. The drilling has commenced and will consist of eight or more holes, focusing on four drilling targets. The first drill target consisting of three holes is focused on testing an 800-meter long Max Min and VLF EM conductor under the north portion of Bufo Lake located on the west part of the property. To earn an initial 49% interest in the Property, Dorex will complete $1,500,000 in exploration expenditures by December 31, 2011 of which $500,000 must be incurred by February 28, 2011.
Belmont Resources Inc. announced that they have entered into an Option Agreement with EuroGas, Inc., whereby EuroGas can earn up to 60% interest in the Lumby/Bufo property (16 contiguous claims - 2,144 ha) located approximately 35 km. northeast of the town of Atikokan and adjoining on strike to the north-northeast with the Osisko Mining Corp. (former Brett Resources Inc.) Hammond Reef deposit. To earn its initial 49% interest, EuroGas must issue one million restricted shares of its common stock to Belmont; incur $1,500,000 in exploration expenditures by December 31, 2011 ($500,000 of which must be incurred by December 31, 2010; and make a cash payment to Belmont of $50,000). Belmont will be the operator until EuroGas earns greater than 50% interest. Furthermore, EuroGas can increase its interest to 60% by issuing an additional five million shares of its common stock to Belmont; incurring a further $500,000 in exploration expenditures by December 31, 2012, and paying Belmont additional $50,000 in cash.
Belmont Resources Inc. announced that it has entered into an agreement to acquire approx. 1632 ha of a group of 14 contiguous mineral claims (102 claim units), known as the Lumby/Bufo property. This property adjoins on strike to the north-northeast with Brett Resources Inc. Hammond Reef deposit (TSX.V -BBR) (Brett) claims. The Lumby/Bufo property is located approximately 35 km. northeast of the town of Atikokan. The gold-bearing structures on the Brett property can be traced northeast onto the Lumby/Bufo Lake property. Belmont has been granted an option to acquire a 100%interest for total consideration of $115,000, 550,000 common shares and $220,000 in exploration expenditures over a three-year period. Belmont has paid an initial $15,000 and issued 100,000 common shares, which shares are restricted from trading until June 23, 2010. A finder's fee of $1,196 and 7,900 shares was also paid.
International Montoro Resources Inc. and Belmont Resources Inc. announced that they were unable to negotiate amended option terms pursuant to the original April 16, 2007, property option agreement (Agreement) with Ultra Uranium Corp. (Ultra). Belmont/Montoro consider the Agreement to be terminated and accordingly the option ended on the Orbit and Crackingstone properties. Belmont/Montoro are exploring other joint ventures and potential options to continue development of this Uranium prospect, and were pleased with the results derived from the 2007/08 $350,000 exploration programs performed on the Orbit property (11,109 ha), located 8 km SW of Uranium City, Saskatchewan.
Canada Stockwatch reported that Belmont Resources Inc. and International Montoro Resources Inc. (optionee), International Alliance Resources Inc., will not be proceeding with the planned acquisition of an interest in the Shaver Lake property in the Red Lake camp, Ontario. The Shaver Lake property was explored by BEA/IMT at costs of $31,000 in 2004 and $135,000 in 2006. In 2004 BEA/IMT completed line cutting and a combined VLF (very low frequency) and magnetic ground geophysical survey.
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