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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: onepath	7/17/2007 1:45:23 AM
	of 78411

SRZ.t New soon to be zinc producer.J.F.Tardiff of Sprott but out a buy recco on this today.Do not own this but it does look on first glance interesting.Safety of location(US) also.... Strategic Resource closes initial public offering 2007-05-29 13:50 ET - News Release Mr. Victor Wyprysky reports SRA CLOSES C$105 MILLION INITIAL PUBLIC OFFERING Strategic Resource Acquisition Corp. has closed its initial public offering comprising common shares and units (each unit comprising $1,000 principal amount of 10-per-cent senior notes and 29 common shares), for gross proceeds of $60-million and $45-million, respectively. The agents have exercised a 15-per-cent overallotment option on the units for additional gross proceeds of $6.75-million. In addition, the company has granted the agents in the syndicate, led by Blackmont Capital Inc. and Haywood Securities Inc., and including HSBC Securities (Canada) Inc., Octagon Capital Corporation and Paradigm Capital Inc., an overallotment option for 30 days equal to 15 per cent of the common share offering. The proceeds of the offering will be directed to financing the restart of mining and milling operations at the Middle Tennessee zinc mines in Gordonsville, Tenn., and for general corporate purposes. The company has engaged Dynatec Mining Corp. as the contract operator, and Dynatec will manage the reactivation of the mine and the first two years of operations on behalf of Strategic Resource Acquisition pursuant to the terms of the definitive agreement executed by both parties. In 2008, SRA expects to produce approximately 150 million pounds per year of zinc contained in one of the highest-quality zinc concentrates in the world.

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