Month: February 2014

Rare Earth Minerals PLC Wednesday announced that it has conditionally raised GBP4.6 million gross at 0.4 pence per share to fund the expansion of its Mexican lithium interests.

Torex Gold Resources Inc. announced today that it has closed its previously announced bought deal offering of units of the Company. A total of 119,830,000 Units have been issued at a price of C$1.20 per Unit, for aggregate gross proceeds of C$143,796,000, which includes the full exercise by the underwriters of the over-allotment option for 15,630,000 Units. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share of the Company at an exercise price of C$1.50 until August 12, 2014.

Santacruz Silver Mining Ltd. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Raymond James Ltd., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to a short form prospectus, 8,750,000 common shares of the Company at a price of C$1.00 per Common Share for gross proceeds of C$8,750,000. In addition, the Company has granted the Underwriters an option to purchase additional Common Shares at the Offering price to raise additional gross proceeds of up to 15% of the Offering to cover over-allocations, if any, exercisable for a period of up to 30 days after the closing date.

Bowmore Explorations Ltd. is pleased to announce that it has negotiated, subject to regulatory approval, a financing through the London based investment group Global Resources Investment Ltd. pursuant to which Bowmore will acquire 518,246 ordinary shares of Global Resources Investment Trust Plc., an investment trust affiliated with GRIL, valued at 1 British Pound per GRIT Share in exchange for 6,000,000 common shares of Bowmore valued at $0.16 per Bowmore share. Bowmore will then endeavor to sell the GRIT Shares to realize cash proceeds.

Timmins Gold Corp. is pleased to confirm the closing of its previously announced bought-deal offering of 18,920,000 common shares of the Company, inclusive of 2,250,000 Shares issued pursuant to the partial exercise of the underwriters’ over-allotment option, at a price of C$1.50 per Share for aggregate gross proceeds of C$28,380,000. The Shares were issued in a public offering in certain provinces of Canada pursuant to a short form prospectus dated February 4, 2014 filed with certain Canadian securities regulators, and were underwritten by a syndicate of underwriters led by RBC Dominion Securities Inc. and including BMO Nesbitt Burns Inc., TD Securities Inc., GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc. and PI Financial Corp.

Kinross Gold Corporation announced today that Brant Hinze, President and Chief Operating Officer, will retire effective October 1, 2014. Mr. Hinze will be succeeded as Chief Operating Officer by Warwick Morley-Jepson, currently Regional Vice-President of the Company’s Russia region.

YAMANA GOLD INC. reports preliminary operational results for the fourth quarter and full year 2013, updates the Company’s outlook and provides a corporate update.

Oroco Resource (TSX-V:OCO, StockForum), a Vancouver-based mineral exploration firm engaged in the development of Mexican precious metal projects, announced today that the company received a favorable ruling from the Federal Tribunal of Mexico, granting the company’s appeal of the lower Federal District Court ruling in regards to Oroco’s Xochipala project.