NYBob
11 years ago
Premier Gold Subsidiary and Bridgeport Ventures complete business combination to form Premier Royalty Inc.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82541532
Premier Gold Subsidiary and Bridgeport Ventures complete business combination to form Premier Royalty Inc.
PG:TSX
BPV:TSX
THUNDER BAY, ON, Dec. 5, 2012 /CNW/ -
PREMIER GOLD MINES LIMITED
(PG:TSX) ("Premier Gold") and
BRIDGEPORT VENTURES INC.
(BPV:TSX) ("Bridgeport")
are pleased to announce that they have completed their previously
announced business combination (the "Transaction") of
Premier Gold's royalty subsidiary and Bridgeport to form a
new publicly traded entity,
Premier Royalty Inc.
("Premier Royalty"), continuing under symbol BPV:TSX.
Premier Royalty's common shares and certain warrants have been
conditionally approved to trade on the Toronto Stock Exchange
("TSX") under the symbols "NSR", "NSR.WT" and "NSR.WT.A",
respectively.
This change is expected to be implemented next week
under separate announcement.
Abraham Drost, President & CEO of Premier Royalty Inc.,
stated: "with a number of cash-flowing royalties in place and
a pipeline of earlier stage royalty assets, the close of this
transaction marks a promising launch for Premier Royalty Inc. and
a fruitful outcome for Bridgeport and Premier Gold.
We look forward to maintaining a track record of growth
organically and through the acquisition of additional cash
flowing and near-term cash flowing royalties with a focus on
stable jurisdictions in the Americas and elsewhere."
In connection with the Transaction:
Bridgeport's name was changed to
"Premier Royalty Inc.";
All existing directors and management of Bridgeport resigned,
other than Hugh Snyder and Shastri Ramnath who are continuing as
directors of Premier Royalty.
Ewan Downie, Abraham Drost, George Faught, Steven Filipovic,
Howard Katz and Julie Lassonde have been appointed as directors
of Premier Royalty;
Common shares of Bridgeport were consolidated on the basis of one
post-consolidation share (a "Premier Royalty Share") for every
four pre-consolidation shares;
Premier Royalty issued 0.375 of a warrant (each whole warrant, a
"Premier Royalty Warrant") for each Premier Royalty Share held by
shareholders of record as at 12:01 a.m. (Toronto time) on
December 4, 2012.
Each whole Premier Royalty Warrant is exercisable at a price of
$2.00 per Premier Royalty Share for a period commencing on
June 4, 2013 and ending on December 4, 2016, subject to early
expiry upon the occurrence of certain events;
All existing Bridgeport options will be terminated on or prior to
March 4, 2013.
The terms of the warrants of Bridgeport existing prior to the
effective time of the Transaction have been adjusted to reflect
the consolidation of Bridgeport common shares and the
distribution of Premier Royalty Warrants upon the exercise of
such warrants;
Premier Royalty has agreed to repay, on behalf of
Premier Royalty Corporation, $8 million of the $28 million
(plus interest) outstanding balance on the convertible bridge
loan facility issued to Premier Gold, which converted the
remaining amount outstanding into approximately 14.7 million
Premier Royalty Shares, approximately 5.5 million Premier Royalty
Warrants and approximately 1.46 million warrants ("Class II
Warrants"), with each Class II Warrant exercisable at a price of
$2.00 per Premier Royalty Share until October 7, 2014.
Premier Gold currently owns approximately 33.7 million
Premier Royalty Shares, representing approximately 53.5% of
the issued and outstanding Premier Royalty Shares.
Pursuant to the policies of the TSX, all of the Premier Royalty
Shares and warrants to acquire Premier Royalty Shares held by
Premier Gold and Mr. Hugh Snyder are subject to escrow, one-
quarter of which were immediately released from escrow and one-
quarter of the balance will be released from escrow every six
months over the next 18 months.
In the event the market capitalization of Premier Royalty is
greater than $100 million for at least 5 trading days after
the Premier Royalty Shares begin trading on the TSX under the
symbol "NSR", the TSX may permit the early release of
the Premier Royalty Shares and warrants from escrow;
All common shares of Premier Royalty Corporation,
including approximately 33.7 million common shares held by
Premier Gold, were exchanged for Premier Royalty Shares on a
one-for-one basis, resulting in Premier Royalty Corporation
becoming a wholly-owned subsidiary of Premier Royalty; and
Approximately 16.61 million Premier Royalty Shares and
approximately 8.07 million warrants to purchase
Premier Royalty Shares were issued to former convertible
debenture holders of Premier Royalty Corporation and to certain
vendors of royalty interests.
As a result of the Transaction, there are approximately 62.9
million Premier Royalty Shares outstanding (on a non-diluted
basis), of which approximately 12.6 million Premier Royalty
Shares, representing approximately 20.1% of the outstanding
Premier Royalty Shares, are held by Bridgeport shareholders of
record immediately prior to the completion of the Transaction.
Premier Gold has acquired the approximately 33.7 million
Premier Royalty Shares, 5.5 million Premier Royalty Shares and
1.46 Class II Warrants for investment purposes.
Premier Gold may purchase or sell (subject to escrow
restrictions) securities of Premier Royalty in the future on the
open market or in private transactions depending on market
conditions and other factors material to the investment decisions
of Premier Gold. Ewan Downie, President & CEO of Premier Gold,
may be contacted for a copy of the early warning report which
will be filed by Premier Gold on Premier Royalty's profile on
www.sedar.com.
About Premier Royalty Inc.
Premier Royalty Inc. features a high quality cash-flowing royalty
portfolio on several remarkable gold mines including:
1.5% NSR on the new (Q4/2012) Emigrant Springs Mine operated by
Newmont on the Carlin Trend in Nevada, USA
1% NSR on the new (Q1/2012) Thunder Creek Deposit of the Timmins
West Mine operated by Lake Shore Gold Mines in Timmins, Canada
1% NSR on the venerable Buffelsfontein Mine operated by
Village Main Reef in South Africa
1% NSR on the Mine Waste Solutions (MWS) tailings processing
facility operated by AngloGold Ashanti in South Africa
1% NSR on the new (2010) Gualcamayo Mine operated by
Yamana Gold in San Juan Province, Argentina
Premier Royalty Inc.
also has a number of promising earlier stage exploration and
development royalties in its growth pipeline and is actively
assessing other potential royalty acquisitions and corporate
development opportunities in stable jurisdictions.
About Premier Gold Mines Limited
Premier Gold Mines Limited
is one of North America's leading exploration and development
companies with a high-quality pipeline of projects focused in
proven, safe and accessible mining jurisdictions in Canada and
the United States.
Premier Gold's portfolio includes significant assets in world
class gold mining districts including Red Lake, Musselwhite and
Geraldton in Ontario and the Carlin and Battle Mountain Trends in
Nevada.
With the completion of the Transaction involving
Premier Royalty Corporation, Premier Gold is set to become the
largest shareholder in the market's next royalty vehicle.
Premier Gold's share position in Premier Royalty Inc. provides
Premier Gold with a strong balance sheet of approximately $170
million in cash and investments and allows Premier Gold
flexibility to advance its projects and peruse attractive
opportunities that current market conditions may provide.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration or an applicable exemption from U.S. registration requirements.
http://www.premiergoldmines.com/s/videos.asp
Premier Gold Mines Limited Presentatiopn Denver -
http://static.gowebcasting.com/documents/files/events/event_000011
07_8EI7kWwN.pdf
http://www.denvergoldforum.org/dgf12/webcast/webcast-day-1.html
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site:
http://www.premiergoldmines.com
Premier Gold Mines Ltd. (TSE:PG)
http://www.premiergoldmines.com/s/Home.asp
http://www.premiergoldmines.com/i/pdf/Nov-2011.pdf
http://www.premiergoldmines.com/i/pdf/PG-MainPPT-Nov2011.pdf
http://www.premiergoldmines.com/s/RedLake.asp
http://www.premiergoldmines.com/s/Rahill-Bonanza.asp
http://www.premiergoldmines.com/s/EastBay.asp
http://www.premiergoldmines.com/s/Hardrock.asp
http://www.premiergoldmines.com/s/KeyLake.asp
http://www.premiergoldmines.com/s/Brookbank.asp
http://www.premiergoldmines.com/s/NorthernEmpire.asp
http://www.premiergoldmines.com/s/Leitch-Sandriver.asp
http://www.premiergoldmines.com/s/Nortoba-Tyson.asp
http://www.premiergoldmines.com/s/PQNorth.asp
http://www.premiergoldmines.com/s/Saddle.asp
http://www.premiergoldmines.com/s/GoldenEdge.asp
http://www.premiergoldmines.com/s/SantaTeresa.asp
http://www.premiergoldmines.com/s/Royalties.asp
http://www.premiergoldmines.com/i/pdf/Royalties.pdf
http://www.premiergoldmines.com/s/Home.asp
http://www.premiergoldmines.com/s/NewsReleases.asp
http://www.premiergoldmines.com/s/Presentations.asp
http://www.premiergoldmines.com/i/pdf/PG-Dec-2011.pdf
http://www.premiergoldmines.com/s/RelatedSites.asp
http://www.premiergoldmines.com/s/Events.asp
http://tmx.quotemedia.com/quote.php?qm_symbol=pg&locale=EN
http://tmx.quotemedia.com/quote.php?qm_symbol=PIRGF:US
http://www.premiergoldmines.com/s/QwikReport.asp
http://investorshub.advfn.com/boards/board.aspx?board_id=10569
God Bless
NYBob
12 years ago
Premier Gold Subsidiary and Bridgeport Ventures complete business combination to form Premier Royalty Inc.
PG:TSX
BPV:TSX
THUNDER BAY, ON, Dec. 5, 2012 /CNW/ -
PREMIER GOLD MINES LIMITED
(PG:TSX) ("Premier Gold") and
BRIDGEPORT VENTURES INC.
(BPV:TSX) ("Bridgeport")
are pleased to announce that they have completed their previously
announced business combination (the "Transaction") of
Premier Gold's royalty subsidiary and Bridgeport to form a
new publicly traded entity,
Premier Royalty Inc.
("Premier Royalty"), continuing under symbol BPV:TSX.
Premier Royalty's common shares and certain warrants have been
conditionally approved to trade on the Toronto Stock Exchange
("TSX") under the symbols "NSR", "NSR.WT" and "NSR.WT.A",
respectively.
This change is expected to be implemented next week
under separate announcement.
Abraham Drost, President & CEO of Premier Royalty Inc.,
stated: "with a number of cash-flowing royalties in place and
a pipeline of earlier stage royalty assets, the close of this
transaction marks a promising launch for Premier Royalty Inc. and
a fruitful outcome for Bridgeport and Premier Gold.
We look forward to maintaining a track record of growth
organically and through the acquisition of additional cash
flowing and near-term cash flowing royalties with a focus on
stable jurisdictions in the Americas and elsewhere."
In connection with the Transaction:
Bridgeport's name was changed to
"Premier Royalty Inc.";
All existing directors and management of Bridgeport resigned,
other than Hugh Snyder and Shastri Ramnath who are continuing as
directors of Premier Royalty.
Ewan Downie, Abraham Drost, George Faught, Steven Filipovic,
Howard Katz and Julie Lassonde have been appointed as directors
of Premier Royalty;
Common shares of Bridgeport were consolidated on the basis of one
post-consolidation share (a "Premier Royalty Share") for every
four pre-consolidation shares;
Premier Royalty issued 0.375 of a warrant (each whole warrant, a
"Premier Royalty Warrant") for each Premier Royalty Share held by
shareholders of record as at 12:01 a.m. (Toronto time) on
December 4, 2012.
Each whole Premier Royalty Warrant is exercisable at a price of
$2.00 per Premier Royalty Share for a period commencing on
June 4, 2013 and ending on December 4, 2016, subject to early
expiry upon the occurrence of certain events;
All existing Bridgeport options will be terminated on or prior to
March 4, 2013.
The terms of the warrants of Bridgeport existing prior to the
effective time of the Transaction have been adjusted to reflect
the consolidation of Bridgeport common shares and the
distribution of Premier Royalty Warrants upon the exercise of
such warrants;
Premier Royalty has agreed to repay, on behalf of
Premier Royalty Corporation, $8 million of the $28 million
(plus interest) outstanding balance on the convertible bridge
loan facility issued to Premier Gold, which converted the
remaining amount outstanding into approximately 14.7 million
Premier Royalty Shares, approximately 5.5 million Premier Royalty
Warrants and approximately 1.46 million warrants ("Class II
Warrants"), with each Class II Warrant exercisable at a price of
$2.00 per Premier Royalty Share until October 7, 2014.
Premier Gold currently owns approximately 33.7 million
Premier Royalty Shares, representing approximately 53.5% of
the issued and outstanding Premier Royalty Shares.
Pursuant to the policies of the TSX, all of the Premier Royalty
Shares and warrants to acquire Premier Royalty Shares held by
Premier Gold and Mr. Hugh Snyder are subject to escrow, one-
quarter of which were immediately released from escrow and one-
quarter of the balance will be released from escrow every six
months over the next 18 months.
In the event the market capitalization of Premier Royalty is
greater than $100 million for at least 5 trading days after
the Premier Royalty Shares begin trading on the TSX under the
symbol "NSR", the TSX may permit the early release of
the Premier Royalty Shares and warrants from escrow;
All common shares of Premier Royalty Corporation,
including approximately 33.7 million common shares held by
Premier Gold, were exchanged for Premier Royalty Shares on a
one-for-one basis, resulting in Premier Royalty Corporation
becoming a wholly-owned subsidiary of Premier Royalty; and
Approximately 16.61 million Premier Royalty Shares and
approximately 8.07 million warrants to purchase
Premier Royalty Shares were issued to former convertible
debenture holders of Premier Royalty Corporation and to certain
vendors of royalty interests.
As a result of the Transaction, there are approximately 62.9
million Premier Royalty Shares outstanding (on a non-diluted
basis), of which approximately 12.6 million Premier Royalty
Shares, representing approximately 20.1% of the outstanding
Premier Royalty Shares, are held by Bridgeport shareholders of
record immediately prior to the completion of the Transaction.
Premier Gold has acquired the approximately 33.7 million
Premier Royalty Shares, 5.5 million Premier Royalty Shares and
1.46 Class II Warrants for investment purposes.
Premier Gold may purchase or sell (subject to escrow
restrictions) securities of Premier Royalty in the future on the
open market or in private transactions depending on market
conditions and other factors material to the investment decisions
of Premier Gold. Ewan Downie, President & CEO of Premier Gold,
may be contacted for a copy of the early warning report which
will be filed by Premier Gold on Premier Royalty's profile on
www.sedar.com.
About Premier Royalty Inc.
Premier Royalty Inc. features a high quality cash-flowing royalty
portfolio on several remarkable gold mines including:
1.5% NSR on the new (Q4/2012) Emigrant Springs Mine operated by
Newmont on the Carlin Trend in Nevada, USA
1% NSR on the new (Q1/2012) Thunder Creek Deposit of the Timmins
West Mine operated by Lake Shore Gold Mines in Timmins, Canada
1% NSR on the venerable Buffelsfontein Mine operated by
Village Main Reef in South Africa
1% NSR on the Mine Waste Solutions (MWS) tailings processing
facility operated by AngloGold Ashanti in South Africa
1% NSR on the new (2010) Gualcamayo Mine operated by
Yamana Gold in San Juan Province, Argentina
Premier Royalty Inc.
also has a number of promising earlier stage exploration and
development royalties in its growth pipeline and is actively
assessing other potential royalty acquisitions and corporate
development opportunities in stable jurisdictions.
About Premier Gold Mines Limited
Premier Gold Mines Limited
is one of North America's leading exploration and development
companies with a high-quality pipeline of projects focused in
proven, safe and accessible mining jurisdictions in Canada and
the United States.
Premier Gold's portfolio includes significant assets in world
class gold mining districts including Red Lake, Musselwhite and
Geraldton in Ontario and the Carlin and Battle Mountain Trends in
Nevada.
With the completion of the Transaction involving
Premier Royalty Corporation, Premier Gold is set to become the
largest shareholder in the market's next royalty vehicle.
Premier Gold's share position in Premier Royalty Inc. provides
Premier Gold with a strong balance sheet of approximately $170
million in cash and investments and allows Premier Gold
flexibility to advance its projects and peruse attractive
opportunities that current market conditions may provide.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration or an applicable exemption from U.S. registration requirements.
http://www.premiergoldmines.com/s/videos.asp
Premier Gold Mines Limited Presentatiopn Denver -
http://static.gowebcasting.com/documents/files/events/event_000011
07_8EI7kWwN.pdf
http://www.denvergoldforum.org/dgf12/webcast/webcast-day-1.html
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-0100
e-mail: Info@premiergoldmines.com
Web Site:
http://www.premiergoldmines.com
Premier Gold Mines Ltd. (TSE:PG)
http://www.premiergoldmines.com/s/Home.asp
http://www.premiergoldmines.com/i/pdf/Nov-2011.pdf
http://www.premiergoldmines.com/i/pdf/PG-MainPPT-Nov2011.pdf
http://www.premiergoldmines.com/s/RedLake.asp
http://www.premiergoldmines.com/s/Rahill-Bonanza.asp
http://www.premiergoldmines.com/s/EastBay.asp
http://www.premiergoldmines.com/s/Hardrock.asp
http://www.premiergoldmines.com/s/KeyLake.asp
http://www.premiergoldmines.com/s/Brookbank.asp
http://www.premiergoldmines.com/s/NorthernEmpire.asp
http://www.premiergoldmines.com/s/Leitch-Sandriver.asp
http://www.premiergoldmines.com/s/Nortoba-Tyson.asp
http://www.premiergoldmines.com/s/PQNorth.asp
http://www.premiergoldmines.com/s/Saddle.asp
http://www.premiergoldmines.com/s/GoldenEdge.asp
http://www.premiergoldmines.com/s/SantaTeresa.asp
http://www.premiergoldmines.com/s/Royalties.asp
http://www.premiergoldmines.com/i/pdf/Royalties.pdf
http://www.premiergoldmines.com/s/Home.asp
http://www.premiergoldmines.com/s/NewsReleases.asp
http://www.premiergoldmines.com/s/Presentations.asp
http://www.premiergoldmines.com/i/pdf/PG-Dec-2011.pdf
http://www.premiergoldmines.com/s/RelatedSites.asp
http://www.premiergoldmines.com/s/Events.asp
http://tmx.quotemedia.com/quote.php?qm_symbol=pg&locale=EN
http://tmx.quotemedia.com/quote.php?qm_symbol=PIRGF:US
http://www.premiergoldmines.com/s/QwikReport.asp
http://investorshub.advfn.com/boards/board.aspx?board_id=10569
God Bless
NYBob
13 years ago
Goldstone Shareholders Approve Acquisition by Premier Gold
http://tmx.quotemedia.com/article.php?newsid=43674516&qm_symbol=GRC
THUNDER BAY, ONTARIO and TORONTO, ONTARIO--(Marketwire - Aug. 8, 2011) -PREMIER GOLD MINES LIMITED (TSX:PG) and GOLDSTONE RESOURCES INC. (TSX:GRC)(PINK SHEETS:GRSZF) are pleased to announce that the previously announced acquisition of Goldstone by Premier pursuant to a plan of arrangement (the "Arrangement") was overwhelmingly approved at the annual and special meeting of Goldstone shareholders held today. The Arrangement will result in Premier acquiring all of the issued and outstanding shares of Goldstone.
Under the terms of the Arrangement, each Goldstone shareholder will receive 0.16 of one Premier common share and a nominal cash payment of $0.0001 for each Goldstone share held. In order to receive the consideration, Goldstone shareholders should follow the instructions that are set out in Goldstone's Management Information Circular dated June 30, 2011, available at www.sedar.com under Goldstone's SEDAR profile. Goldstone's optionholders will receive replacement Premier options, and Goldstone warrants will remain outstanding in accordance with their terms.
Goldstone is seeking a final order of the Ontario Superior Court of Justice (Commercial List), which is expected to be granted on August 12, 2011. Once the final order is received, the Arrangement is expected to be completed on or about August 16, 2011.
About Premier
Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario, Nevada and Mexico. Two projects, located in the Red Lake gold mining camp, are operated through joint ventures with Red lake Gold Mines a partnership between Goldcorp Inc. and Goldcorp Canada Ltd. Premier also owns strategic projects located in the heart of the Carlin Trend, Nevada, along strike from Goldcorp's Musselwhite Gold Mine in Ontario and is rapidly advancing the Hardrock Project located along the Trans-Canada highway in the town of Geraldton, Ontario.
About Goldstone
Goldstone Resources Inc. is a gold exploration and development company operating in the historically significant Geraldton-Beardmore camp of Northwestern Ontario and focused on gold exploration and deposit delineation at its Key Lake, Brookbank, Northern Empire and Leitch-Sand River gold properties, and as a partner in the Hardrock Project joint venture with Premier. Goldstone's 100%-owned NI 43-101 compliant resources at Brookbank total 424,000 indicated ounces of gold uncut and 276,600 inferred ounces of gold uncut, using a cutoff grade of 3.4 g/t Au. The Geraldton-Beardmore camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore - and to Goldstone's fully permitted, expandable 200-TPD Northern Empire mill.
Further information is available on Premier's website at www.premiergoldmines.com and on SEDAR under Premier's profile at www.sedar.com.
Further information is available on Goldstone's website at www.goldstoneresourcesinc.com and on SEDAR under Goldstone's profile at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release may be deemed "forward looking". All statements in this news release, other than statements of historical fact, that address events or developments that Premier/Goldstone expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond Premier/Goldstone's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions (including that the Arrangement will be completed successfully) that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including regulatory and court approval of the Arrangement. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. Premier/Goldstone expressly disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
Shares Issued
Premier Gold Mines Limited: 104,830,658
Goldstone Resources Inc: 104,814,605
NYBob
13 years ago
kiwi yes, the shares were worth more when we were just Roxmark -
the gold
E.g....
Goldman Sachs Took Biggest Loan From Undisclosed 2008 Fed Crisis Program
(B.S. bail out of poor???)
http://www.bloomberg.com/news/2011-07-06/goldman-took-biggest-loan-in-fed-program.html
Goldman Sachs & Co., a unit of the most profitable bank in Wall Street history, took $15 billion from the U.S. Federal Reserve on Dec. 9, 2008, the biggest single loan from a lending program whose details have been secret until today.
Btw.
$15 billion = $15,000 thousand millions = $15,000,000,000.-
http://www.dailypaul.com/169985/goldman-took-biggest-loan-in-secret-fed-program
(..and horse thieves etc. used to be hanged in US -
but NO banksters goes to jail?
the banksters friends in supreme court -
so NO one afraid for nothing?)
Warren Buffett publicly supports bailout after buying $5 Billion in Goldman Sachs stock
http://www.dailypaul.com/64880/warren-buffett-publicly-supports-bailout-after-buying-5-billion-in-goldman-sachs-stock
(W.B. got inside info ??? - all inside info legal ???
- the friends in supreme court to protect all bs?)
----
It was so easy to get so much, so the Q. is, why not a
second time -
btw.
thieves often comes back -
a second time, if it was easy the first time -
history often repeat itself -
do the thieves nss or short something first -
before buying it all the REAL VALUES for fiat peanuts -
fiat papers got for free -
will it be they own a small chinese comp. to pick it all up -
for the fiat peanuts -
to use a chinese comp. to do the leather -
on the back of the mine workers -
to cover up the real slave drivers banksters lucifers cults.
NYBob
13 years ago
PG made bid for Goldstone Resources (TSE:GRC)
PG has become a takeover TARGET? -
the bidders have started to short PG? -
http://www.dailyfinance.com/company/premier-gold-mines-ltd/pg/tor/short-interest
Don't trust the super red - its destroying the PEOPLE and its all for lucifers -
PREMIER GOLD MINES LTD Short Interest
Short Interest Volume: PG
Data as of —
Current Short Interest Shares 813,050.00
Current Short Interest Ratio 3.20
Float —
Short Interest as % of Float —
Average Daily Volume 232,517.00
Outstanding Shares 104.71 M
Previous 12 Months Short Interest: PG
Data as of 07/04/11
Date Ratio Shares
Jul 07/04/11 3.20 813,050.00
Jun 06/16/11 1.80 368,631.00
Jun 06/01/11 0.60 123,748.00
May 05/16/11 1.30 245,671.00
May 05/02/11 0.60 134,740.00
Apr 04/18/11 0.50 128,928.00
Apr 04/01/11 0.50 125,778.00
Mar 03/16/11 0.40 106,815.00
Mar 03/01/11 0.40 103,418.00
Feb 02/16/11 0.50 120,670.00
Feb 02/01/11 1.20 315,437.00
Jan 01/17/11 0.30 70,713.00
Jan 01/04/11 0.40 103,258.00
Dec 12/16/10 0.30 88,164.00
Dec 12/01/10 0.20 198,674.00
Nov 11/16/10 0.20 169,299.00
Nov 11/01/10 0.60 115,920.00
Oct 10/18/10 0.70 136,177.00
Oct 10/01/10 0.50 127,080.00
Sep 09/16/10 1.70 351,315.00
Sep 09/01/10 0.50 92,259.00
Aug 08/16/10 0.80 117,944.00
Aug 08/03/10 0.70 110,176.00
Jul 07/16/10 0.40 110,338.00
Jul 07/02/10 0.50 141,142.00
Jun 06/16/10 0.60 144,800.00
Get Short Interest for:
PREMIER GOLD MINES LTD
(TSE:PG)
5.77-0.02 -0.35%
as of 04:00 PM EDT on 07/08/2011 in CAD (TSX Delay: 15 mins.)
E.g....
Goldman Sachs Took Biggest Loan From Undisclosed 2008 Fed Crisis Program
(B.S. bail out of poor???)
http://www.bloomberg.com/news/2011-07-06/goldman-took-biggest-loan-in-fed-program.html
Goldman Sachs & Co., a unit of the most profitable bank in Wall Street history, took $15 billion from the U.S. Federal Reserve on Dec. 9, 2008, the biggest single loan from a lending program whose details have been secret until today.
Btw.
$15 billion = $15,000 thousand millions = $15,000,000,000.-
http://www.dailypaul.com/169985/goldman-took-biggest-loan-in-secret-fed-program
(..and horse thieves etc. used to be hanged in US -
but NO banksters goes to jail?
the banksters friends in supreme court -
so NO one afraid for nothing?)
Warren Buffett publicly supports bailout after buying $5 Billion in Goldman Sachs stock
http://www.dailypaul.com/64880/warren-buffett-publicly-supports-bailout-after-buying-5-billion-in-goldman-sachs-stock
(W.B. got inside info ??? - all inside info legal ???
- the friends in supreme court to protect all bs?)
NYBob
13 years ago
mick, NO, its not a done deal but because....
RE: e.g.,* $3.25 million break fee; and Premier retains
the right to match any superior proposal -
pure 100% bs 666 clause
666 wording to eliminate competitive bidding etc.
its made up behind super red iron cutains -
to take away fair bidding -
giving NO risk rights or very much less,
to the minority shareholders -
its to discourage stock investments at present and
for the future, by super red 666 bankster cults -
its 100% worse than what its in China and Russia even!
GRC Terms of Offer
* Goldstone shareholders will receive 0.16 of a Premier
common share plus $0.0001 in cash for each common share of
Goldstone
(plus $0.0001 in cash for each common share of
Goldstone -
what a 666 joke?)
* Represents a 27.3% premium based on the 30-day volume
weighted average prices of each company
* Transaction unanimously approved by the Boards of Premier and Goldstone
* Directors of Goldstone holding approximately 13.5% of the
common shares outstanding have entered into voting agreements in
support of the Arrangement
* $3.25 million break fee; and Premier retains
the right to match any superior proposal
* Goldstone's optionholders will receive replacement Premier
options and Goldstone warrants will remain outstanding in
accordance with their terms.
RE: e.g.,* $3.25 million break fee; and Premier retains
the right to match any superior proposal -
pure 100% bs 666 clause
666 wording to eliminate competitive bidding etc.
its made up behind super red iron cutains -
to take away fair bidding -
give NO risk rights to the minority shareholders -
its to discourage stock investments at present and
for the future by super red 666 bankster cults -
its 100% worse than in China and Russia even!
Its bad, bad, ugly 666 devil ship!
To eliminated all gain probabilities for risk taking
shareholders and it will be future repeat for
the shareholders when a bigger company taking over PG etc. etc.
its absolute NO END to fool the shareholders by cults
of khazars banksters 666 evils cultz!!!!
It makes to little common sense to be a risk taker in
all stocks if super red evils making this kind of
discouragement for fair bidding praxis etc.
It going to discourage People from being shareholders
and leave all rights to the banksters 666 cults who is out
to destroy America and the Western Societies!
Its encourage super red management to accept this kind
of 666 evils clauses; for other kind of deals? -
made behind the super red curtains!
To destroy all rights for fair competitive bidding by other comp. -
which may give the minority shareholders -
some profit for years of investments, which have
been common in the past of American history for
risk venture investments etc.!
but now gets eliminated by khazars 666 bankster cults
members who want to destroy the Freedom, Liberty and
Rights the People and shareholders enjoyed in America
but its like all in the past today!
NYBob
14 years ago
GRC with more than 10 old gold mines company sure is a busy one... thank you
Rig Onsite, Drilling at Leitch-Sand River, as Goldstone Begins 2011 Beardmore Exploration Program
Goldstone Resources Inc.
(News - Market indicators)(PINK SHEETS:GRSZF) today
announced that a rig is now onsite and drilling at the Company's
Leitch-Sand River property as the first step in an estimated
20,000-metre 2011 program in the Beardmore camp of
the Geraldton-Beardmore Greenstone Belt.
Exploration at Beardmore is in addition to an ongoing
30,000-metre drill program at Goldstone's Key Lake property
in the Geraldton camp.
The drilling program at Leitch-Sand River will consist of 19
holes for a total of approximately 12,000 metres.
The target area extends over two kilometres to the west of
the Sand River mine shaft covering the Leitch-Sand River No. 2
vein system, the No. 16 vein system, and the Creek vein area.
The program is designed to evaluate some 14 targets on
the property.
Historically, the No. 16 vein system was exposed on the 8th level
(900 feet) of the Leitch Gold Mine and graded 1.53 oz/t Au over
0.63 feet, with a strike length of 805 feet.
Historical mine records indicate that a total of nearly 3,600
tons grading 0.56 oz/t were mined and milled from the No. 16 vein.
The exploration program is planned and executed by George Langstaff, Ph.D., P.G., P. Geo. (Temp.)
and supervised by Tracy Armstrong, P. Geo. Ms. Armstrong
is a Qualified Person within the meaning of National Instrument
43-101, and is actively involved in Goldstone's
2011 exploration program.
"Drawing on results from recent and historic drilling and
from both surface exploration and a 2010 aeromagnetic survey,
we have established initial targets for 2011 Beardmore
drilling at both our Leitch-Sand River and
Northern Empire Mine properties,"
said Philip Cunningham, Chairman and
Interim Chief Executive Officer.
"Our goal remains one of expanding our Beardmore resources
in areas that could potentially be developed sequentially
along with the NI 43-101 compliant resource established
at our Brookbank property."
"Logistical considerations have dictated that we drill first
at Leitch-Sand River, rather than at the McWilliams showing
on the Northern Empire property, which was previously drilled
in the fall of 2010, intersecting a favourable gold-bearing
horizon in hole NE10-03.
McWilliams will be another focal point in 2011," he added.
About Leitch-Sand River Property
The formerly producing Leitch-Sand River Mine is located
seven kilometres from Goldstone's Northern Empire mill,
which is a fully permitted, expandable 200-TPD complex,
located in Beardmore, Ontario.
Historically, the Leitch Mine produced 861,900 oz with an
average ore grade of 0.92 ounces per ton.
The deepest level of the Leitch Mine was level 30 (4,525 ft.
or 1,380 m).
Drifting was completed on this level in order to provide
access to drill test possible depth extensions of Vein #2,
with historical mine records indicating several drill hole
intercepts of more than two ounces per ton over widths of up
to 19 inches, located between 130 and 300 feet below
the 30th level.
About Goldstone
Goldstone Resources Inc. is a gold exploration company
operating in the historically significant Geraldton-Beardmore
camp of Northwestern Ontario and is focused on gold exploration
and deposit delineation at its Key Lake, Brookbank, Northern
Empire and Leitch-Sand River gold properties.
Goldstone is also a partner in the Hardrock Project
joint venture with Premier Gold.
The Geraldton-Beardmore camp is host to several past producers
yielding historical production of more than 4.1 million ounces
of gold.
The majority of the mines in the camp were shut down primarily
as a result of the $35/oz gold price.
Further information is available on the Company's website at
http://www.goldstoneresourcesinc.com
and on SEDAR under the Company's profile at
www.sedar.com.
Forward-Looking Statements
This news release may contain forward-looking information under applicable securities laws concerning Goldstone's business, operations, ---- except as may be required under applicable securities laws.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Goldstone Resources Inc.
Philip Cunningham
Chairman and Interim CEO
(416) 860-1636
http://www.goldstoneresourcesinc.com
http://www.goldstoneresourcesinc.com/pdfs/LeitchSandRiver5_Feb122010.pdf
Goldstone Resource Inc.
The Leitch Mine (now 100% owned by Goldstone) was one
of Ontario’s highest grade and in Canada most profitable gold
mines, producing 860,648 ounces from 906,395 tons of ore at
an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered grade over the
last ten years of the mine’s operation was 1.15 oz.Au/ton.
The Leitch Gold Mine had one of the first electical
underground trains in Canada -
http://www.goldstoneresourcesinc.com/leitch.php
http://tmx.quotemedia.com/article.php?newsid=41967253&qm_symbol=GRC
NYBob
14 years ago
Rig Onsite, Drilling at Leitch-Sand River, as Goldstone Begins 2011 Beardmore Exploration Program
Goldstone Resources Inc.
(News - Market indicators)(PINK SHEETS:GRSZF) today
announced that a rig is now onsite and drilling at the Company's
Leitch-Sand River property as the first step in an estimated
20,000-metre 2011 program in the Beardmore camp of
the Geraldton-Beardmore Greenstone Belt.
Exploration at Beardmore is in addition to an ongoing
30,000-metre drill program at Goldstone's Key Lake property
in the Geraldton camp.
The drilling program at Leitch-Sand River will consist of 19
holes for a total of approximately 12,000 metres.
The target area extends over two kilometres to the west of
the Sand River mine shaft covering the Leitch-Sand River No. 2
vein system, the No. 16 vein system, and the Creek vein area.
The program is designed to evaluate some 14 targets on
the property.
Historically, the No. 16 vein system was exposed on the 8th level
(900 feet) of the Leitch Gold Mine and graded 1.53 oz/t Au over
0.63 feet, with a strike length of 805 feet.
Historical mine records indicate that a total of nearly 3,600
tons grading 0.56 oz/t were mined and milled from the No. 16 vein.
The exploration program is planned and executed by George Langstaff, Ph.D., P.G., P. Geo. (Temp.)
and supervised by Tracy Armstrong, P. Geo. Ms. Armstrong
is a Qualified Person within the meaning of National Instrument
43-101, and is actively involved in Goldstone's
2011 exploration program.
"Drawing on results from recent and historic drilling and
from both surface exploration and a 2010 aeromagnetic survey,
we have established initial targets for 2011 Beardmore
drilling at both our Leitch-Sand River and
Northern Empire Mine properties,"
said Philip Cunningham, Chairman and
Interim Chief Executive Officer.
"Our goal remains one of expanding our Beardmore resources
in areas that could potentially be developed sequentially
along with the NI 43-101 compliant resource established
at our Brookbank property."
"Logistical considerations have dictated that we drill first
at Leitch-Sand River, rather than at the McWilliams showing
on the Northern Empire property, which was previously drilled
in the fall of 2010, intersecting a favourable gold-bearing
horizon in hole NE10-03.
McWilliams will be another focal point in 2011," he added.
About Leitch-Sand River Property
The formerly producing Leitch-Sand River Mine is located
seven kilometres from Goldstone's Northern Empire mill,
which is a fully permitted, expandable 200-TPD complex,
located in Beardmore, Ontario.
Historically, the Leitch Mine produced 861,900 oz with an
average ore grade of 0.92 ounces per ton.
The deepest level of the Leitch Mine was level 30 (4,525 ft.
or 1,380 m).
Drifting was completed on this level in order to provide
access to drill test possible depth extensions of Vein #2,
with historical mine records indicating several drill hole
intercepts of more than two ounces per ton over widths of up
to 19 inches, located between 130 and 300 feet below
the 30th level.
About Goldstone
Goldstone Resources Inc. is a gold exploration company
operating in the historically significant Geraldton-Beardmore
camp of Northwestern Ontario and is focused on gold exploration
and deposit delineation at its Key Lake, Brookbank, Northern
Empire and Leitch-Sand River gold properties.
Goldstone is also a partner in the Hardrock Project
joint venture with Premier Gold.
The Geraldton-Beardmore camp is host to several past producers
yielding historical production of more than 4.1 million ounces
of gold.
The majority of the mines in the camp were shut down primarily
as a result of the $35/oz gold price.
Further information is available on the Company's website at
http://www.goldstoneresourcesinc.com
and on SEDAR under the Company's profile at
www.sedar.com.
Forward-Looking Statements
This news release may contain forward-looking information under ---- to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Goldstone Resources Inc.
Philip Cunningham
Chairman and Interim CEO
(416) 860-1636
http://www.goldstoneresourcesinc.com
http://www.goldstoneresourcesinc.com/pdfs/LeitchSandRiver5_Feb122010.pdf
Goldstone Resource Inc.
The Leitch Mine (now 100% owned by Goldstone) was one
of Ontario’s highest grade and in Canada most profitable gold
mines, producing 860,648 ounces from 906,395 tons of ore at
an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered grade over the
last ten years of the mine’s operation was 1.15 oz.Au/ton.
The Leitch Gold Mine had one of the first electical
underground trains in Canada -
http://www.goldstoneresourcesinc.com/leitch.php
http://tmx.quotemedia.com/article.php?newsid=41967253&qm_symbol=GRC
NYBob
14 years ago
Goldstone Announces Initial 2011 Key Lake Drilling Results
Highlights: Near Surface Grading 1.56 g/t Au Over 24 m
May 30, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Goldstone Resources Inc.
(TSX:GRC) (PINK SHEETS:GRSZF) today announced
first results from the 2011 drilling program at its Key Lake
property where the Company is focused primarily on obtaining
enough drilling information for the purposes of estimating a
NI 43-101 compliant mineral resource and establishing
the viability of an open pit mining operation.
Located just west of Geraldton, Ontario, Key Lake
is contiguous to the Hardrock Project where eight rigs will
be active in 2011 and where diamond drilling by the Company's
joint venture partner, Premier Gold Mines Ltd. (TSX:PG),
as operator, has established a significant gold resource
near surface as well as high grade intersections at depth.
Goldstone holds a 30% carried interest in the Hardrock Project
and a 100% interest in Key Lake and its other properties.
To date in the 2011 Key Lake drilling program, 42 holes have
been completed for a total of 9,000 metres along a strike
in excess of 800 metres.
Complete assay results have been received for 27 holes.
Drilling is primarily focused on identifying near surface
gold mineralization amenable to open pit mining.
All holes drilled to-date have intersected gold mineralization,
including hole KL-11-92 which encountered
gold grading 49.3 g/t over 0.65 metres
(a photograph of the core with visible gold is posted at
http://www.goldstoneresourcesinc.com
Additional holes not yet assayed have also encountered
visible gold.
Results for these holes will be published in a future
press release.
Drilling suggests the potential for defining open-pit style
with wide zones such as in
KL-11-68 that intersected 24 m at 1.56 g/t Au.
Approximately 30,000 metres of drilling are planned for
this year along the main Key Lake corridor,
including testing new anomalies identified by the
IP geophysical survey carried out earlier this year.
The current program is capitalizing on the success of
a 12,000-meter drilling program in 2010 which outlined
significant gold mineralization,
including 3.17 g/t over 44 metres and 2.28 g/t over 42.7 metres.
2011 Significant results received to date are as follows:
http://www.goldstoneresourcesinc.com/news/newsrel-2011_05_30.pdf
http://tmx.quotemedia.com/article.php?newsid=41753343&qm_symbol=GRC
NYBob
14 years ago
Goldstone Files NI 43-101 Technical Report for Hardrock Project
May 18, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Goldstone Resources Inc.
(TSX:GRC)(PINK SHEETS:GRSZF)announced the filing of an updated
NI 43-101 Mineral Resource Estimate for the Hardrock Project
on SEDAR.
The effective of the report is dated April 5, 2011 and is
available for review under the Company's profile at
www.sedar.com.
The report was prepared by Micon International Limited and lists
the following as Qualified Persons for the purposes of
NI 43-101: Charley Murahwi, P.Geo., Sam Shoemaker,
Jr., B.Sc., MAusIMM., Reg.Mem. SME., and Richard Gowans, P.Eng.
The Hardrock Project is a joint venture located just south of
the town of Geraldton, Ontario in which
Goldstone holds a 30% carried interest and
Premier Gold Mines Limited (TSX:PG), as operator,
holds a 70% interest.
About Goldstone
Goldstone Resources Inc.
is a gold exploration and development company operating
in the historically significant Geraldton-Beardmore camp
of Northwestern Ontario and focused on gold exploration
and deposit delineation at its
Key Lake,
Brookbank,
Northern Empire
and Leitch-Sand River gold properties,
and as a partner in
the Hardrock Project joint venture with
Premier Gold.
Goldstone's 100%-owned NI 43-101 resources in the Beardmore area
total more than 800,000 ounces.
In April 2011, Premier announced an updated NI43-101 resource
estimate for the Hardrock Project in the Geraldton area
of 3.6 million ounces of gold in which Goldstone has
a 30% interest (more than 1 million ounces).
The camp is host to several past producers in a district
that has historical production of more than
4.1 million ounces of gold from high grade ore
before being shut down primarily as a result of
a $35 gold price—and to Goldstone's fully permitted,
expandable 200-TPD Northern Empire mill.
Further information is available on the Company's website at
http://www.goldstoneresourcesinc.com
and on SEDAR under the Company's profile at
www.sedar.com.
Forward-Looking Statements
This news release may contain forward-looking information under
applicable securities laws ---- except as may be required under
applicable securities laws.
Neither the Toronto Stock Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy
of this release.
Goldstone Resources Inc.
Chairman and Interim CEO
(416) 860-1636
http://www.goldstoneresourcesinc.com
http://tmx.quotemedia.com/article.php?newsid=41434735&qm_symbol=GRC
Hardrock
http://tmx.quotemedia.com/article.php?newsid=40117010&qm_symbol=GRC
The Hardrock Project, located in the Beardmore --
Geraldton Greenstone Belt of Northwestern Ontario,
is consistent with all the hallmarks of Premier's business
model and is a core holding in its exploration portfolio.
Many past-producing sites in Canada are undergoing a renaissance
and today are being recognized for their exceptional potential
to host future world class discoveries.
The Hardrock Project comprises approximately a 15-kilometre
long property package that overlies more than 3.0 million ounces
of past gold production in a district that has historic
production in excess of 4.0 million ounces.
The property lies only a few kilometers south of the Town
of Geraldton, which is serviced by the Trans-Canada Highway,
Trans-Canada Pipeline, and Hydroline.
Exploration is conducted year round.
NI43-101 Compliant Mineral Resources
On April 6, 2011 the Company announced that it had received
an updated National Instrument (NI) 43-101 compliant Mineral
Resource for the Hardrock Project.
This resource included near surface mineralization, including
that contained in the original open pit resource estimate
completed in 2010, and deeper mineralization identified in
the 114,000m of drilling that was completed in 2010.
Highlights of the Hardrock Resource include:
* A 269% increase in Measured and Indicated resources to 2.5 million ounces.
* A 164% increase in Inferred resources to 1.1 million ounces.
* A 30% increase in the "potential open pit" Measured and Indicated resource grade to 2.37 grams per tonne gold (g/t Au).
* A 37% increase in the "potential open pit" Inferred resource grade to 2.48 g/t Au.
* Some 40% of the Measured and Indicated resource ounces are categorized as "Measured."
* A "Whittle-Pit" analysis suggesting a strip ratio on potential open pit mineral resources of 2.1 to 1.
* The Kailey ("potential open pit") Deposit resource is included and contains 127,000 ounces of Measured and Indicated Resources at 1.57 g/t Au and 10,000 ounces of Inferred resources at 1.48 g/t Au.
The mineral resources estimated for the Hardrock project (both the Hardrock and Kailey Deposits) are set out in Table 1 below. They have been subdivided into potentially underground or open pit mineable resources and reported using different cutoff grades.
NYBob
14 years ago
Goldstone Deploys Third Rig for Key Lake, Beardmore Properties;
Undertakes Limited Drilling Program at Faymar, Near Timmins
IP Identifies Additional Anomalies
May 12, 2011 (Marketwire Canada) --
TORONTO, ONTARIO --
Goldstone Resources Inc.
(TSX:GRC)(PINK SHEETS:GRSZF) announced that a third drill
rig has been added to its 2011 exploration program, initially
for use at its Key Lake property in Geraldton and subsequently
at its Northern Empire and Leitch-Sand River properties near
Beardmore, Ontario.
The Company also said that it plans to drill several targets
over the next few weeks on its Faymar property near Timmins,
Ontario.
Goldstone's overall exploration budget for the year is
approximately $6.5 million.
The Key Lake drilling program, of which 8,286 metres has been
completed by May 10, 2011 as a result of a later–
than-anticipated March 1 start and some earlier operational
difficulties, is primarily focused on identifying near surface
gold mineralization amenable to open pit mining.
About 30,000 metres of drilling are planned for the year at
Key Lake.
Initial assay results are expected to be announced soon.
In addition, in March and April, two large grids totalling 54 km
were cut over other favourable geological horizons and an
IP survey was completed with initial interpretation received
from JVX Ltd., a geophysical contactor and
consulting services company.
A number of significant anomalies have been identified and will
be tested by drilling as soon as ground conditions are drier.
The Key Lake property is contiguous to the Hardrock Project
where eight rigs will be active in 2011 and where diamond
drilling
by the Company's joint venture partner,
Premier Gold Mines Limited (TSX: PG) as operator,
has established a gold resource (near surface as well as in
high grade intersections at depth).
Goldstone holds a 30% carried interest in the Hardrock Project
and in the estimated NI 43-101 resource of 3.6 million ounces
of gold and a 100% interest in Key Lake and all other
properties mentioned in this news release.
Beardmore Properties
In the Beardmore area, interpretation of data on
the Leitch-Sand River and Northern Empire Mine properties
is underway.
Current expectations are for approximately 11,000 metres
of diamond drilling to begin shortly, to explore structural
targets along strike from the Sand River, #16 Vein and
Creek Vein systems at Leitch-Sand River, with drilling
planned on the northeast portion of
the Northern Empire mine and possibly elsewhere.
In addition, drilling will expand on the outcome of the
limited 2010 program completed on the McWilliams prospect,
with an initial four drill holes scheduled.
Work is being conducted by George Langstaff, P.G., P.Geo.
(Temporary), the Qualified Person for the information
contained in this section and a Qualified Person within
the meaning of National Instrument 43-101.
Faymar Property
At the Faymar property, a former producer located in Deloro
Township in the Timmins Gold Camp just south of and adjacent
to the Destor-Porcupine Fault, results from the Fugro Airborne
GEOTEM survey carried out earlier this year have outlined
a number of anomalies, four of which will now be tested over
the next few weeks as part of an initial phase of
approximately 1,500 metres of diamond drilling in a
co-operative program with another exploration company which
owns adjoining land.
"We got off to a late and slow start on the Key Lake program,
but have since hit our stride," said Philip Cunningham,
Goldstone's Chairman and Interim Chief Executive Officer.
"These are early days for 2011 exploration, but what we
have seen so far is encouraging."
"Over the course of the year, we will be conducting infill
drilling in previously explored areas to increase confidence
about previous results, as well as testing new targets
suggested by historical results, the IP survey, and a
preliminary open pit analysis conducted earlier," he added.
Goldstone's previously-stated objective is to establish
the viability of an open pit mining operation at Key Lake
and to build a NI 43-101 resource.
The program is also seeking to extend the zone another
kilometre to the west of 2010 drilling where, in addition
to open pit potential, there is higher grade underground
potential as a result of Hole 195-46 drilled by Cyprus
in the 1990's, which returned 44.9 g/t Au over 3.4m,
including 136.1 g/t over 1m (uncut-not true width).
"As we've said before, our objective in Beardmore—where we
are currently prioritizing drill locations—is to develop
more gold resources near our Northern Empire mill which could
be developed sequentially with those identified at our
Brookbank and Northern Empire properties."
Cunningham stated. "We have already outlined a number of
promising anomalies at the McWilliams structure and
look forward to testing these and others in
the Beardmore Camp with one of the three rigs currently at
Key Lake."
About Key Lake
The Key Lake property hosts the former Jelex Gold Mine
which had historical production of 5,675 oz of recovered gold.
The gold mineralization is hosted by greenschist facies
metagreywacke and is associated with alteration, quartz veining,
and disseminated arsenopyrite and pyrite.
Mineralization boundaries are generally gradational and
not visually distinctive.
By the end of 2010, over 200 holes had been drilled over a
3 km long north-northwest trending zone down to a depth of
about 200 m with horizontal spacing of 25-50 m in
the eastern two-thirds and spacing of 25-100 m in
the western third.
About Goldstone
Goldstone Resources Inc. is a gold exploration and development
company operating in the historically significant
Geraldton-Beardmore camp of Northwestern Ontario and focused
on gold exploration and deposit delineation at its Key Lake,
Brookbank, Northern Empire and Leitch-Sand River gold
properties, and as a partner in the Hardrock Project joint
venture with Premier Gold.
Goldstone's 100%-owned NI 43-101 resources in the Beardmore
area total more than 800,000 ounces.
In April 2011, Premier announced an updated NI43-101 resource
estimate for the Hardrock Project in the Geraldton area of
3.6 million ounces of gold of which Goldstone has a 30%
interest (more than 1 million ounces).
The camp is host to several past producers in a district
that has historical production of more than 4.1 million ounces
of gold from high grade ore before being shut down primarily
as a result of a $35 gold price—and to Goldstone's fully
permitted, expandable 200-TPD Northern Empire mill.
Further information is available on the Company's website
at http://www.goldstoneresourcesinc.com
and on SEDAR under the Company's profile at
www.sedar.com.
Forward-Looking Statements
This news release may contain forward-looking information ----except as may be required under applicable securities laws.
Neither the Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Goldstone Resources Inc.
Chairman and Interim CEO
(416) 860-1636
http://www.goldstoneresourcesinc.com
http://tmx.quotemedia.com/article.php?newsid=41274854&qm_symbol=GRC
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