YWO.V is my fave exploration junior-
Website is wolfdenresources.com
They are currently trading at $1.21 (CAD).
YWO has a gold property called Monument Bay that is currently undergoing a 3,500 meter step-out drilling program-
The gold property is a joint venture with Bema Gold-(BGO.TSE) and has 600,000 ounces drill indicated from previous drilling.
They also have a copper/zinc property that they are going to start drilling this season, called High Lake.
This property has 5.3 million tons of 4% copper drill indicated from previous programs and is 100% owned by YWO. It is located in Nunavut (Northern Canada).
They also recently signed a joint venture agreement on a gold exploration property in the famous gold producing area called Red Lake, with Newmont Mining Inc., which is the world's largest gold producer. It is called the Skinner Gold property.
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YWO just announced a financing of $2.2 million.
News release follows:
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Wolfden Resources Inc - News Release
Wolfden raises $2.2-million through financing
Wolfden Resources Inc YWO
Shares issued 15,111,921 Apr 24 2002 close $1.240
Thursday Apr 25 2002 News Release
Mr. Ewan Downie reports
WOLFDEN COMPLETES $2.2 MILLION FINANCING
Wolfden Resources has completed the offering of 2,932,733 Class C special warrants at a price of 75 cents per Class C special warrant for gross proceeds of $2,199,549.75, through a syndicate led by Canaccord Capital Corporation and Dundee Securities Corporation (collectively the agents). The agents received for their services in connection with the offering, a total of 205,291 Class D special warrants.
Each Class C special warrant is exercisable, for no additional consideration, for one flow-through common share of Wolfden, and each Class D special warrant is exercisable, for no additional consideration, for one common share of Wolfden, provided that a receipt is issued for a final prospectus of Wolfden qualifying the issue of such flow-through common shares and common shares by Sept. 21, 2002, failing which each Class C special warrant will be exercisable, for no additional consideration, for 1.1 flow-through common shares and each Class D special warrant will be exercisable, for no additional consideration, for 1.1 common shares.
The proceeds from the private placement will be used to finance the exploration of the High Lake property. |
