Val-d’Or Mining (Uranium Valley Mines) (VZZ.H-V)
www.uraniumvalleymines.com
18.6 million o/s
Cash <$500,000 (as of Sept 30, 2016)
Insiders (including GZZ) 5,404,091 shs
Golden Valley Mines (GZZ-V) 4,170,910 shs
Lexam VG Gold (LEX-T) 4,000,000 shs
People
Glenn J. Mullan - CEO
Mr. Mullan holds a B.Sc. (Geology) from Concordia University and has 42 years of experience in the mining industry. Glenn is the CEO of Cleghorn Minerals and is also President, CEO, and Chairman of Golden Valley Mines. As an independent prospector, Glenn assembled and acquired many mining prospects ranging from grass-roots ventures through advanced-stage projects. He was instrumental in assembling most of the properties comprising the exploration portfolio now explored by Golden Valley Mines and related companies in the Zed Zed Group. Glenn also is a member of the Board of the Prospectors and Developers Association of Canada (PDAC).
Andrew Pepper - Director
Mr. Pepper is Executive Vice President with Mackie Research Capital Corporation since August 2016, and special advisor to Link Investment Management, a technology based financial service provider. He acted as the senior marketing and service advisor at Gryphon Investment Counsel from 2011-2016, and was a founder of Windermere Capital and its predecessor firm Pepperwright Corporation (2004-2009). Mr. Pepper is also a director of Abitibi Royalties, Nunavik Nickel Mines and Cleghorn Minerals, all junior natural resource issuers trading on the TSX Venture Exchange. He served as a director of Canadian Royalties in 2009. He is presently the Chairman of the Action Center Foundation in Montreal and has also served on the boards of the St-Mary's Hospital Foundation, the Quebec Arthritis Association, the Cedars Cancer Institute and the Sarah Cook Fund.
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Projects:
Uranium Valley and Golden Valley Mines entered into an option agreement on December 13, 2016, pursuant to which Golden Valley has granted to Uranium Valley an option to acquire a 100% interest in 62 of its grassroots properties (the “Properties”).
Pursuant to the terms of the option agreement, Uranium Valley must incur $4,000,000 of expenditures with respect to exploration and other mining operations on the Properties before December 31, 2021 (with $500,000 to be incurred on or before December 31, 2018; $750,000 to be incurred on or before the December 31, 2019; $1,000,000 to be incurred on or before December 31, 2020 and $1,750,000 to be incurred on or before December 31, 2021).
As consideration for the option, Uranium Valley will issue 10,000,000 common shares to Golden Valley at a deemed price of $0.20 per share for an aggregate deemed value of $2 million (issuable as to 25% on or before each of December 31, 2018, 2019, 2020 and 2021). In addition, Uranium Valley has granted Golden Valley a royalty equal to 1% of the NSR from the 62 Properties on the terms set out in the option agreement.
If Uranium Valley has issued the shares and incurred the expenditures provided for in the option agreement, it may exercise the option on or before December 31, 2021.
In connection with this transaction, Uranium Valley intends to change its name to Val-d’Or Mining Corporation, with no change to its stock trading symbol ‘VZZ’. The transactions contemplated by the option agreement and the proposed name change are subject to TSX Venture Exchange approval.
Company presentation Dec '16 http://www.uraniumvalleymines.com/investors/presentations/ |
