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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: zamboz	1/19/2010 8:47:52 AM
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XRA spinning into two new companies: Co's Board unanimously approves a proposal to undertake a spin-out transaction pursuant to which the assets of Exeter would be separated into two companies. Under the terms of the proposed transaction, Exeter will retain all assets relating to the Caspiche gold-copper discovery, together with approx $50 mln in working capital. Exeter will transfer to a new corporation, Newco, Exeter's Cerro Moro and other exploration properties in Argentina and approx $25 mln in working capital. Newco will then become an emerging gold-silver producer, focused on the high grade Cerro Moro gold-silver project in Argentina. It will be a condition to the closing of the transaction that Newco obtain conditional approval for the listing of its common shares on a major stock exchange. finance.yahoo.com

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