52 Week Range
As of on the TSX Venture Exchange ∙ Minimum 15 minute delay
American CuMo Mining Corp:Says non-brokered private placement of up to 10,000,000 units at price of C$0.05 per unit for gross proceeds of up to C$500,000, announced on Aug. 20 has been closed and oversubscribed.Approved an increase to the size of the CuMoCo Offering, and company has sold a total of 11,000,000 CuMoCo Units for total gross proceeds of C$550,000.portion of proceeds of the CuMoCo Offering will be applied to reduce company's working capital deficit and the remainder for general corporate purposes.Each CuMoCo Unit consists of one common share of Company and one share purchase warrant exercisable to purchase one common share of company at price of C$0.10 per common share until Oct. 9, 2016.
IEMR Resources Inc:Says that the company and American CuMo Mining Corp have amended (the amendment) the option agreement dated Jan. 26, 2010, as amended (the option agreement).Says with respect to the Pine Tree Copper-Molybdenum Property in Nevada pursuant to which the company was granted the option (the option) to earn a 100 pct. interest.Says subject to an underlying net smelter returns royalty (the underlying NSR), in the Pine Tree Property and that the company has completed its earn-in under the option agreement.Says that Charles Yuen has been appointed as the chief financial officer of the company.
American CuMo Mining Corp:Says changes to its management team and that the company and IEMR Resources Inc have amended the option agreement dated Jan. 26, 2010.Says the Board of Directors of the company have resolved to undertake a search for a new President/ Chief Executive Officer.Says Hongxue Fu, formerly the company's executive Chairman and President, has been appointed executive Chairman.Says Shaun Dykes, formerly the company's interim Chief Executive Officer, has been appointed Chief Operating Officer.Says Pursuant to the Amendment, the parties agreed to amend the Option Agreement to cause IEMR to pay the company the Final Cash Payment immediately on the following terms: that the size of the Final Cash Payment be reduced to $185,000.Says that IEMR not be required to issue the Final Share Instalment to the company.Says that the Company return the Issued Shares to IEMR for cancellation.
American CuMo Mining Corp announced a financing to raise up to USD3 million by the sale of units (Units) at a price of US$1,000 per Unit, with each Unit consisting of a USD1,000 non-transferable unsecured convertible debenture (a Convertible Debenture) of the Corporation and 1,500 non-transferable common share purchase warrants (the Warrants). Each Convertible Debenture has a term of 5 years, bears an interest rate of 8.5% per annum, with interest payable on a semi-annual basis, and is convertible into common shares of the Corporation at a price of USD0.3333 per common share. Each Warrant will entitle the holder to purchase one additional common share of the Corporation (a Warrant Share) for a period of five years at a price of USD0.40 per warrant Share. The Company has the right to buy back the convertible portion at any time and the subscriber keeps the warrant. The offering is subject to the approval and consent of the TSX Venture Exchange (the Exchange). The U.S. Forest Service has completed the public comment period regarding the SEA and is reviewing the submitted comments. USFS will address any substantive issues raised before releasing the final report.
Market News Publishing reported that effective at January 7, 2013, the common shares of American Cumo Mining Corporation will commence trading on TSX Venture Exchange, and the common shares of Mosquito Consolidated Gold Mines Limited will be delisted.
Mosquito Consolidated Gold Mines Ltd announced that Hongxue Fu was appointed as Executive Chairman and President, Shaun Dykes was appointed as Chief Executive Officer on an interim basis, Aurora Davidson was appointed as Chief Financial Officer on an interim basis and Brett Kagetsu was appointed as Corporate Secretary. The Board also resolved, subject to receipt of regulatory approval, to proceed with the change of name of the Company to CUMO Mining Corp., which change of name was approved by Company shareholders at the annual and special meeting of shareholders held on December 9, 2009 but not proceeded with at the time. The Company will issue a further news release on a date closer to when the name change is to become effective.
Barkerville Gold Mines Ltd announced that it has closed the acquisition of all residual property interests owned by Mosquito Consolidated Gold Mines Limited (Mosquito) in the Cariboo District near Wells, BC, under the terms previously disclosed. These interests include a 50% interest in the Cariboo Gold Quartz Property, placer mining rights on the Mosquito Creek Property and a 3% Net Smelter Return royalty on the Cariboo Gold Quartz Mine Property, Island Mountain Mine Property and Mosquito Creek Mine Property (Mosquito Interests). Pursuant to the letter agreement dated November 30, 2011 between the Company and Mosquito, Mosquito Interests were purchased by the Company for an aggregate consideration of $5,000,000.
Mosquito Consolidated Gold Mines Limited and Urastar Gold Corp. announced that the previously announced letter of intent, whereby Urastar agreed to purchase a 100% interest in the BlackPoint gold-silver property located in the major Battle Mountain-Eureka Gold Trend of Nevada, has been finalized. Mosquito has received the first payment of $225,000.
Urastar Energy Inc. announced that it has signed a Letter of Intent (LOI) to purchase a 100% interest in the BlackPoint Gold-Silver Project located in the Battle Mountain-Eureka Gold Trend of Nevada from Mosquito Consolidated Gold Mines Limited (Mosquito). The Project consists of 896 acres and is located 7 kilometers north of the town of Eureka, Nevada.
Running Fox Resource Corp. announced that it has entered into an agreement, subject to regulatory acceptance, to acquire the remaining 50% of the Brett Gold Project from Mosquito Consolidated Gold Mines. This will result in Running Fox owning 100 % of the Brett Gold Project. Key terms include one million dollars cash and three million common shares, with a closing date of 30 days after regulatory acceptance, and MSQ has reserved a sliding scale net smelter royalty of between 2 % to 8%, tied to the price of gold, which in the current price range of between $1,000 to $1,500 US per ounce, the royalty would be 5%.
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