Month: March 2011

Timmins Gold Corp. has stepped up a war of words in the battle to buy New York’s Capital Gold Corp.

After receiving a positive preliminary assessment for its Monterde property in the Sierra Madre gold-silver belt in Mexico in 2010, Kimber Resources (TSX: KBR) has stepped up the project’s exploration and development program starting with a 30,000-metre drill program launched in January, which will be followed by a pre-feasibility study during 2011. Kimber Resources Inc is based in Vancouver, British Columbia and trades on the NYSE AMEX under the symbol KBX and on the Toronto Stock Exchange under the symbol KBR. Gordon Cummings, President and CEO, discusses the path to turning the company’s assets into profitable mining operations and why Kimber is ripe for a major revaluation.

Mr. Holmes brings over 20 years of experience in the mining industry to the Company. He began his career with NovaGold Resources Inc. (TSX:NG) in 1987 where he was Vice-President, Finance and Secretary-Treasurer. From 1997 to 2009 Mr. Holmes was Chief Financial Officer and Vice-President Finance of Etruscan Resources Inc. (TSX:EET). Mr. Holmes joined NSGold Corporation in 2010 as Vice President and Chief Financial Officer. His work experience includes structured project debt financings, corporate acquisitions, mining feasibility studies and financial restructurings. Mr. Holmes is a member of the Institute of Chartered Accountants of Nova Scotia.

Paramount Gold and Silver Corp. (AMEX:PZG) reported the fall of 5.13% and closed at $3.88 whereas overall traded volume stood at 2.09 million shares for the day as compare to its average volume stood at 1.99 million. The current market price is 3.94% more than its last 50 days simple moving average.

Canaco Resources Inc. (TSX VENTURE:CAN) (“Canaco” or the “Company”) is pleased to announce it has completed the sale of an additional 3,330,000 common shares of the Company following the exercise in full of the underwriters’ over-allotment option granted by the Company in connection with its previously announced bought deal financing by Canaccord Genuity Corp. and TD Securities Inc. The common shares were sold at a price of $5.40 per share for additional gross proceeds to Canaco of $17,982,000. With the over-allotment option, aggregate gross proceeds of $137,862,000 were raised for the Company.

Capital Gold Corporation today urged stockholders to consider all the facts when voting on the approval of the amended merger agreement with Gammon Gold, Inc., which will provide CGC stockholders with a substantial premium and a superior value to the proposal made by Timmins Gold.

The Board of Directors of Capital Gold has made various unsubstantiated statements about the comparative attributes of the Timmins proposal versus the Gammon Gold deal.

The Capital Gold Board of Directors argues that Gammon offers a better deal than Timmins. It’s time to take a hard look at the facts.

Aurcana Corporation (“Aurcana” or the “Company”) today announced that subject to final acceptance from the TSX Venture Exchange, the Company and Silver Standard Resources Inc. (“Silver Standard”) have agreed to restructure the terms of the $10,000,000 convertible debenture (the “Debenture”) which the Company issued to Silver Standard on July 15, 2008. The Debenture has a three year term, and bears interest at a rate of 1.5% in the first year, and 4% thereafter.

Toronto, Ontario – (March 25, 2011) — Argonaut Gold Ltd. (TSX: AR) today announced that its fourth quarter and year end financials will be released before market open on March 31, 2011 followed by a conference call on March 31, 2011 at 9:30 a.m. ET.

Vancouver, BC — March 25, 2011 — Levon Resources Ltd. (“Levon”) and Valley High Ventures Ltd. (“Valley High” or “VHV”) are pleased to jointly announce the completion of the acquisition of VHV by Levon. Levon has acquired all of the shares of Valley High pursuant to a court-approved plan of arrangement (the “Arrangement”). The transaction was overwhelmingly approved by VHV’s shareholders and optionholders who voted at VHV’s annual and special meeting on March 22, 2011.