Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Master Metals Blog
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Batista`s AUX moves on juniors in California gold district in Colombia - CENTRAL SOUTH AMERICA - Mineweb.com Mineweb

Monday, October 22, 2012 16:22

% of readers think this story is Fact. Add your two cents.

Batista’s AUX moves on juniors in California gold district in Colombia

A billionaire’s gold company goes after two juniors next door to its gold projects in the California gold district.

Author: Kip Keen
Posted: Friday , 19 Oct 2012

HALIFAX, NS (MINEWEB) -

It was a matter of speculation earlier this week but now it is a fact. Billionaire Eike Batista’s private gold company, AUX, wants to consolidate its hold on precious metals projects in the California gold district in Colombia. Today it proposed not one but two takeovers of juniors operating in the area: Galway Resources and Calvista Gold.

The move on the two juniors on the same day answers a question posed in these pages earlier this week about whether the time for AUX to consolidate in Colombia was at hand.

In Galway and Calvista AUX gets a string of projects in the California district including Calvista’s 450,000 ounces gold indicated, and about as much again in inferred resources, and Galway’s 424,000 ounces gold indicated and 666,000 ounces gold inferred, all within two kilometres of AUX’s larger La Bodega and La Mascota projects.

Calvista’s chief resources are in the Callejon Blanco zone about a kilometre southwest of AUX tenements while Galway’s California project lies sandwiched between Calvista and AUX concessions. As noted earlier this week that sandwich includes wedges of tenements cutting into key AUX land positions and resources, a fact which has led analysts to include a takeover was inevitable.

No surprise, shares in two other juniors with land packages in the area, Eco Oro (formerly Greystar) and CB Gold, also experienced strong price movement on Friday, both up about 10 percent as of presstime.

As for details about the takeover at hand: a quarter of Calvista shareholders have entered into lock-up agreements with AUX. The junior said the AUX offer represented a 100-percent premium to its 10-day volume weighted average shareprice. As for Galway, it said it was getting a 47 percent premium to its 20-day average. Meanwhile Galway, as part of the deal, will spin out its other projects into separate gold and tungsten companies.

About Kip KeenBased in Halifax, Nova Scotia, Kip is Mineweb’s North American junior mining specialist. Before joining Mineweb he worked for Canada’s top mining publication, the Northern Miner covering the junior sector out of Vancouver.
Email: [email protected]

Batista`s AUX moves on juniors in California gold district in Colombia – CENTRAL SOUTH AMERICA – Mineweb.com Mineweb

Read it all on The MasterMetals Blog

2012-10-22 15:20:23

Source: http://mastermetalsblog.blogspot.com/2012/10/batistas-aux-moves-on-juniors-in.html

Source:

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Visits:	1,708,403,069
Stories:	8,450,334