Bottom-fish trading at 1.5 cent under umbrella Strategic Exploration Group - Arcus Development Group (ADG-V)
www.arcusdevelopmentgroup.com
Key people
Ian J. Talbot – President, CEO and Director
Mr. Talbot has over 25 years of experience in the mineral exploration industry as both a lawyer and an exploration geologist. As a geologist he has worked with both junior and major resource companies. As a lawyer, he has practiced exclusively in the areas of mining and securities law in private practice and as in-house counsel with BHP Billiton World Exploration Inc.
Marc Blythe – Director
Mr. Blythe has a Master of Business Administration from La Trobe University in Melbourne and a Bachelor of Mining Engineering degree from the Western Australian School of Mines.
Mr. Blythe is currently and has been since September 2006, Vice President, Mining of Almaden Minerals Ltd. He was Corporate Senior Mining Engineer for Placer Dome Inc. based in Vancouver from 2004 until 2006, where he completed internal and external mine evaluation, including advising on potential acquisitions and mining technology implementation. Mr. Blythe joined Tarsis in his current role in July 2007.
Whilst working for Auriongold (which was acquired by Placer Dome), Mr. Blythe led the successful completion of a Bankable Feasibility Study on the Raleigh Mine, Kalgoorlie, Australia, which is now in production and owned by Barrick Gold. Mr. Blythe developed a novel mining method which was successfully adopted and the mine has exceeded production forecasts estimated in the Feasibility Study. The mine produces in excess of 100,000 ounces of gold annually.
Prior to this, Mr. Blythe completed the internal Feasibility Study for the Bullant Mine, Kalgoorlie, Australia. Previous studies had indicated that the mine was sub-economic. The mine which was initially scheduled to last just 18 months, has been in continuous production since 2002 and now has a projected mine life of approximately two years. The mine is owned by Barrick Gold and produces approximately 50,000 ounces of gold annually.
Mr. Blythe holds a Western Australian First Class Mine Manager's Certificate of Competency and has managed mines for both Placer Dome and WMC Resources (formerly Western Mining Corporation).
Mr. Blythe is a third generation prospector.
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No plans to consolidate, 41 million o/s The Touleary and Dan Man projects have excellent exploration potential and ADG has resolved to be patient until the markets are again receptive to good technical stories.
ADG currently have $100,000 in working capital with a very low monthly burn rate. They have no employees or regular monthly fees to consultants or management. They have reduced all of their cost to preserve capital and ensure the company is viable when the market conditions improve.
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Arcus financing completed, sole investor under the placement was Strategic Metals (SMD-V) which now holds an 8.25% interest in Arcus.
Aug 6, 2013 – News Release
Arcus Development Group reports that the $100,000 non-brokered private placement announced on July 29, 2013 has been completed. The placement consisted of the sale of 3,333,333 common shares at a price of $0.03 per share. The sole investor under the placement was Strategic Metals Ltd. ("Strategic Metals") which now holds an 8.25% interest in Arcus.
No finder's fee or sales commission was paid in respect of the placement. All shares issued under the placement are subject to a hold period expiring on December 7, 2013. The placement was conducted pursuant to the TSX Venture Exchange bulletin dated April 12, 2013, Private Placements - Extension and Modification of Temporary Relief from Certain Pricing Requirements.
Proceeds from the placement will be used by Arcus to pay annual audit fees, general operating costs including office rent, accounting fees, insurance, Exchange sustaining fees, regulatory filing fees and transfer agent fees. There are no outstanding liabilities owed by Arcus to related parties and no proceeds from the placement will be used to make any related party payments. No Arcus board member has any interest in the placement. |
