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Centerra Gold Confirms Negotiations with the Kyrgyz Government

TORONTO, Jan. 03, 2022 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) today confirmed that it is…

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TORONTO, Jan. 03, 2022 (GLOBE NEWSWIRE) — Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) today confirmed that it is engaged in negotiations with representatives of the Kyrgyz Republic to resolve their disputes related to Centerra’s Kumtor Mine and the seizure of control of the mine by the Kyrgyz government in May 2021.

Further to statements in the Kyrgyz media regarding the potential negotiated transfer of the Kumtor Mine to the Kyrgyz Republic, Centerra expects that the framework for any resolution would involve the following principal terms:

  • Centerra receiving the approximately 26.1% in Centerra common shares held by Kyrgyzaltyn JSC (an instrumentality of the Kyrgyz Republic). Upon receipt, Centerra would cancel the shares surrendered by Kyrgyzaltyn JSC.
  • The Kyrgyz Republic receiving, and assuming all responsibility for, the Company’s two Kyrgyz subsidiaries and the Kumtor Mine.
  • Payment by Centerra of a cash amount equal to the net amount of the three dividends paid by Centerra in 2021 that Kyrgyzaltyn JSC did not receive as a result of the seizure of the mine and certain other financial consideration associated with the settlement of inter-company balances between Centerra and its two Kyrgyz subsidiaries.
  • The resignation from Centerra’s Board of Directors of Kyrgyzaltyn JSC’s two nominees.
  • Full and final releases of all claims of the parties and termination of all legal proceedings involving the parties in all jurisdictions with no admissions of liability.

Negotiations with representatives of the Kyrgyz Republic are ongoing, and there can be no assurance that any proposed resolution will be consummated or as to the final economic and other terms and conditions of any such resolution, if agreed. Any such resolution would need to be formalized in a definitive agreement and would be subject to compliance with all applicable legal and regulatory requirements and approvals, including any applicable independent valuation or shareholder or government approval requirements.

Cautionary Note Regarding Forward-Looking Information
Information contained in this document which are not statements of historical facts may be “forward-looking information” for the purposes of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words “believe”, “expect”, “anticipate”, “contemplate”, “plan”, “potential”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, “understand” and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: any negotiations or resolution between Centerra and the Kyrgyz Republic and the potential terms and conditions (including legal and regulatory requirements and approvals in connection therewith) of any such resolution.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Centerra, are inherently subject to significant political, business, technical, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty around the likelihood of a resolution resulting from recent negotiations with representatives of the Kyrgyz Republic and Kyrgyzaltyn JSC; the continued imposition by the Kyrgyz Government of “external management” on Kumtor Gold Company CJSC (“KGC”) or the prolongation of such “external management”; the inability of the “external management” to obtain equipment, spare parts, consumables or other supplies; the Kyrgyz Government taking further steps to nationalize or expropriate the Kumtor Mine, and/or utilizing the purported environmental and tax claims being asserted against KGC to strip KGC of its assets; the impact of changes in, or to the more aggressive enforcement of, laws, regulations and government practices, including unjustified civil or criminal action against the Company, its affiliates or its current or former employees, including the interaction of claims of harm to the environment or human health with the new Kyrgyz Republic law; the uncertainty of potential outcomes in the arbitration process; the inability of the Company and its subsidiaries to collect on or enforce any favorable arbitral and/or court judgement awarded against the Kyrgyz Republic or Kyrgyzaltyn JSC; the presence of a significant shareholder that is a state-owned company of the Kyrgyz Republic; and other actions which could be taken by the Company in response to the ongoing situation involving the Kumtor Mine. For additional risk factors, please see section titled “Risks Factors” in the Company’s most recently filed Annual Information Form available on SEDAR at www.sedar.com and EDGAR www.sec.gov/edgar.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Centerra, and prospective investors should not place undue reliance on forward looking information. Forward-looking information is as of January 3, 2022. Centerra assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Turkey and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Turkey. While the Company still owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Company’s control. The Company also owns the pre-development stage Kemess Underground Project in British Columbia, Canada and owns and operates the Molybdenum Business Unit in the United States. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.

For more information:
Toby Caron
Treasurer and Director, Investor Relations
(416) 204-1694
[email protected]

Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.

A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/e0706f0b-5e13-4bad-a9ed-f85783e8b95c


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Award of Stock Options

TORONTO, ON / ACCESSWIRE / January 20, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent gold company with a portfolio of exploration licences…

TORONTO, ON / ACCESSWIRE / January 20, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent gold company with a portfolio of exploration licences in Greenland, announces that it has granted incentive stock option awards (“Options”) to employees and a consultant of AEX to acquire an aggregate of 4,100,000 common shares under the Company’s Stock Option Plan at $0.60 per share with an expiry date of January 17, 2027. Of these, 1,100,000 were awarded to Eldur Olafsson and 900,000 were awarded to Jaco Crouse.

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
AND THEIR CLOSELY ASSOCIATED PERSONS

1. Details of the person discharging managerial responsibilities/person closely associated
a) Name:

(i)Eldur Olafsson

(ii)Jaco Crouse

2. Reason for the notification
a) Position/status:

(i)Chief Executive Officer and Director

(ii)Chief Financial Officer and Director

b) Initial notification/Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name AEX Gold Inc
b) LEI: 213800Q21S5JQ6WKCE70
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument:

Identification code:

Common shares of no par value in AEX Gold Inc.

ISIN: CA00108V1022

b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s):

Price(s)

Volume(s)

Nil

(i)1,100,000

(ii) 900,000

d) Aggregated information: 2,000,000
e) Date of the transaction(s): 17 January 2022
f) Place of the transaction XOFF

Enquiries:

AEX Gold Inc.

Eldur Olafsson, Director and CEO
+354 665 2003
[email protected]

Eddie Wyvill, Investor Relations
+44 (0) 7713 126727
[email protected]

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500

Camarco (Financial PR)

Billy Clegg
Emily Hall
+44 (0) 20 3757 4980

For Company updates:

Follow @AexGold on Twitter

Follow AEX Gold Inc. on LinkedIn

Further Information:

About AEX

AEX’s principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation’s principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold assets covering 4,090km2, the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation’s current expectations regarding future events and the future growth of the Corporation’s business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under “Risk Factors” in the Final Prospectus available under the Corporation’s profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Inside Information

This announcement does not contain inside information

SOURCE: AEX Gold Inc.

View source version on accesswire.com:
https://www.accesswire.com/684822/Award-of-Stock-Options


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Blue Lagoon Announces Results Of 2021 Soils Sampling Program – Identifies New Zones For Priority Follow Up In 2022

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the…

VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Blue Lagoon Resources Inc. (the “Company“) (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the results from its 2021 soil sampling program completed on its Dome Mountain Gold Project – an all-year-round accessible property located a short 50-minute drive from Smithers, BC.

The Company’s 2021 soil sampling program has resulted in identification of strong anomalous gold, zinc, and copper-in-soils zones in a number of new zones which warrant follow-up during the Company’s 2022 exploration program.

“The soil sampling program was remarkably successful in that we identified multiple gold-in-soils anomalies as well as strong multi-element associations with the gold. The more anomalous elements (Zn, Cu, As, Mo, Pb etc.) that we see associated with gold, the higher degree of confidence we have of an underlying mineralized system thus, allowing us to immediately prioritize our follow-up program.”, said Bill Cronk, Chief Geologist for Blue Lagoon Resources. “A highly anomalous zinc zone to the northwest of Freegold is especially of interest as values here are very high and dwarf the zinc values seen in soils associated with the known Boulder Vein system where gold in the current resource has a very close correlation with elevated zinc values in core.”

A total of 4216 soils have been collected on the Dome Mountain property since 2020, of which 3167 samples were collected in 2021 (Figure 1).

Anomalous pathfinder elements associated with gold-in-soil anomalies at Freegold (including antimony, copper, molybdenum, zinc, lead, mercury, bismuth, uranium and silver) were drilled in the first part of the 2021 Phase 2 program and high-grade gold was intersected as expected (see press release December 7, 2021). Additional drilling at Freegold is currently on hold awaiting completion of ground based Deep IP and CSAMT, expected to be completed by the middle of February 2022.

Anomalous pathfinder elements associated with the high gold values at Boulder Vein include antimony, zinc, lead, and silver. Noranda first drilled the Boulder Vein system at Dome Mountain in 1985 based on zinc-in-soil anomalies. After more than 40,000 meters of core drilling on the Boulder Vein, Zinc is considered the premier pathfinder element at Dome Mountain.

Figure 1 Map showing soil samples collected on the Dome Mountain Project showing samples collected in 2020 (black) and samples collected in 2021 (Yellow).

Figure 2 shows multi-element results for soils collected northwest of the Freegold Showing and along a strong northwest trending mag anomaly. Soil lines are spaced at 400 meters apart and samples collected along the line at 25 or 50 meters spacing. The zinc anomaly is the largest on the property to date with gold and contains anomalous pathfinder elements including copper, molybdenum, arsenic and antimony. Once snow free conditions are met in 2022, this target will be followed up with infill soils and prospecting to advance to the drill target stage.

Figure 2 Map highlighting anomalous zones to the northwest of Freegold. Highest zinc values in soils on the property up to 5610 ppm. 15ppb Au and greater is in the 95th percentile of anomalous values.

Figure 3 shows soils results to the southwest part of the project area. Strong gold in soils have been found and anomalous pathfinder elements associated with the targets (molybdenum, copper, arsenic and antimony) highlight areas for further work to develop near term drill targets.

Figure 3

The planned 2022 soil sampling program will build on the Company’s previous programs and will continue in early summer with a minimum of 2500 samples expected to be collected as the follow-up to the 2020-2021 program and as a first pass exploration on portions of the land package which has yet to be explored.

QUALITY ASSURANCE AND CONTROL

The Company submitted 3167 soil samples for analysis which were collected on the Dome Mountain Gold Project in late 2021. 329 of these samples were QAQC samples inserted into the sample stream to maintain a 10% QAQC program consisting of standards, blanks and field duplicates. Sample lines selected for the survey were based on known locations of underlying gold mineralization and/or based on structural interpretations based on the 2020 airborne survey.

SAMPLE PROTOCOLS

Soil samples were collected using two-man teams equipped with Geotool and shovel. Samples were collected from the B-horizon at a depth ranging from 10 cm to 90 cm. Average depth of sample collected was 32 cm. Sample spacing along the lines varied from 25 meters to 50 meters depending upon location and target with line spacing varying from 200 meters to 400 meters.

Sample data collected at the sample locations included UTM location, depth of sample, color, moisture content, texture (sand, silt, clay), and percentage, angularity and lithology of pebbles and or cobbles. Samples collected amounted to approximately 1 kilogram of material and placed in a white soil sample bag. Wet samples were additionally placed into a 1000 ml plastic zip loc bags to prevent contamination. At the end of the day all samples were placed inside the Company’s shop facility on a rack and allowed to dry for at least one week before shipping to ALS in North Vancouver, BC. Samples remained in secure storage until shipped to Vancouver.

Sample preparation at ALS utilized Prep 41 method (dry and sieve to -80 mesh) and followed up analysis for gold by method Au-AA24 (by fire assay) and 48-elements by method ME-MS61, (four acid digestion with ICP-MS finish).

The scientific and technical data contained in this news release was approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.

Forfurther information, pleasecontact:

Rana Vig
President and Chief Executive
Officer Telephone: 604-218-4766
Email: [email protected]

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the “Company”) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

SOURCE: Blue Lagoon Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/684823/Blue-Lagoon-Announces-Results-Of-2021-Soils-Sampling-Program–Identifies-New-Zones-For-Priority-Follow-Up-In-2022

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Aston Bay Holdings Announces Extension of Private Placement

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIESTORONTO, ON / ACCESSWIRE / January 20, 2022 / Aston Bay Holdings…

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

TORONTO, ON / ACCESSWIRE / January 20, 2022 / Aston Bay Holdings Ltd. (TSX-V:BAY; OTCQB:ATBHF) (“Aston Bay” or the “Company”) announces that the Company has been granted an extension by the TSX Venture Exchange (“TSX-V”) to complete the previously announced non-brokered private placement (the “Offering”) of aggregate gross proceeds of up to $2,000,000 by no later than February 11, 2022.

The Offering consists of Units at a price of $0.06 per Unit, as announced in the Company’s news release dated November 29, 2021. Each Unit will consist of one common share of the Company and one full warrant (a “Warrant”) entitling the holder thereof to acquire an additional common share (the “Warrant Share”) at an exercise price of $0.12 per Warrant Share for a period of 24 months from the date of issuance. The Warrants will be subject to acceleration provisions when the volume weighted average trading price is greater than $0.25 for 10 consecutive trading days.

As announced in its news release dated December 21, 2021, the Company closed the first tranche of the Offering, issuing 13,473,500 Units for aggregate gross proceeds of $808,410. There can be no assurances that the Company will be able to complete the Offering. The Offering is subject to the final approval of the TSX-V and all regulatory approvals.

About Aston Bay Holdings

Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company’s advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.

The Company has the exclusive option to lease the mineral rights to over 10,000 acres of prospective private land located in central Virginia. These lands are located within a gold-copper-lead-zinc mineralized belt prospective for mesothermal gold deposits and Virginia gold-pyrite belt deposits, as well as sedimentary exhalative (SEDEX), Broken Hill (BHT) and volcanogenic massive sulfide (VMS) type base metal deposits. Don Taylor, who led the predecessor company to Blue Ridge and assembled the dataset, has joined the Company’s Advisory Board and will be directing the Company’s exploration activities for the Blue Ridge Project. The Company is actively exploring the Mountain Base Metals Project Buckingham Gold Project in Virginia and is in advanced stages of negotiation on other lands in the area.

The Company is also 100% owner of the property Storm Project, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.

The Company’s public disclosure documents are available on www.sedar.com.

FORWARD-LOOKING STATEMENTS

Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute “forward-looking statement”, which can be identified by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”, “may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay’s expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation. We seek safe harbour.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
[email protected]
(416) 456-3516

SOURCE: Aston Bay Holdings Ltd

View source version on accesswire.com:
https://www.accesswire.com/684828/Aston-Bay-Holdings-Announces-Extension-of-Private-Placement

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