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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2385)	10/22/2013 6:09:20 PM
From: Goose94	Respond to of 203414

SBB-T uptick.

To: Goose94 who wrote (2385)	1/14/2014 5:30:54 PM
From: Goose94	Read Replies (2) \| Respond to of 203414

SBB-T Laurentian Goldfields (LGF-V) to buy Newman-Madsen from Sabina Gold & Silver (SBB-T) Jan 14, '14 - NR Laurentian Goldfields Ltd. has signed a letter of intent to acquire a 100-per-cent interest in the Newman-Madsen gold property from Sabina Gold & Silver Corp. The Newman-Madsen property is adjacent to the Madsen gold project, which Laurentian entered into a definitive agreement to purchase from Claude Resources Inc. on Dec. 19, 2013. Together the two properties comprise in excess of 5,000 hectares in the prolific Red Lake gold camp of Northwestern Ontario. The consolidated property consists of two former gold producers, including the Madsen gold mine, which had previous gold production of 2.4 million ounces. Darin Labrenz, president and chief executive officer of Laurentian, stated: "Laurentian is pleased to announce the acquisition of the Newman-Madsen gold property. The Madsen mine trend has never been consolidated under one operator and the addition of the Newman-Madsen property represents a unique opportunity to apply a new and consistent exploration model to a consolidated mine trend that exceeds over 12 kilometres in length and over 50 square kilometres in size. This first-time consolidation of the Madsen mine trend will transform Laurentian into a leading Red Lake gold exploration company." Consideration payable by Laurentian consists of shares representing 9.9 per cent of Laurentian's shares outstanding following completion of both the Madsen and Newman-Madsen acquisitions. On closing of the Newman-Madsen transaction, it is anticipated that Laurentian will seek shareholder approval to appoint Robert Pease, current president and chief executive officer of Sabina, to Laurentian's previously announced proposed board of directors. Strategic rationale for Madsen and Newman-Madsen transactions: Establishes Laurentian as a leading Red Lake-focused gold explorer with the third-largest land position and second-largest historical production in one of North America's most prolific gold camps; Consolidation of Madsen mine trend under single ownership and the application of modern exploration to numerous highly prospective exploration targets and former producers along a 12-kilometre corridor; The Newman-Madsen property consists of 38 patented mining claims and together with Madsen provides exposure to a contiguous 50-square-kilometre land package with numerous exploration targets along the 12-kilometre Madsen mine trend, including additional prospective structural horizons associated with the Buffalo and Laverty deposits; Madsen gold project contains an indicated mineral resource of 928,000 ounces gold in 3.24 million tonnes grading 8.93 grams per tonne gold and an inferred mineral resource of 297,000 ounces gold in 790,000 tonnes grading 11.74 grams per tonne gold; Potential near-term low-capital production opportunity facilitated by a fully permitted 500-tonne-per-day mill, 1,275-metre shaft, and associated mining and tailings management infrastructure; New management and board with deep Red Lake knowledge, and proven technical and capital markets expertise. Closing of the Newman-Madsen and Madsen transactions is expected in February, 2014, and subject to receipt of all required shareholder, regulatory and third party consents, satisfaction of customary closing conditions. The Newman-Madsen transaction is subject to the closing of the Madsen transaction, and the completion by Laurentian of a financing to raise minimum gross proceeds of $7.5-million. Macquarie Capital Markets Canada Ltd. is acting as financial adviser to Laurentian with regard to the acquisition and financing. About the Madsen gold project and the Madsen transaction On Dec. 19, 2013, Laurentian announced it had entered into a definitive agreement to purchase a 100-per-cent interest in the Madsen gold project from Claude Resources. The terms of the Madsen transaction include both cash payments and share consideration to Claude consisting of: Cash consideration of $3.75-million at closing; Cash consideration of $2.5-million payable three months following closing; Cash or share consideration (at Laurentian's option) of $2.5-million payable six months following closing; Share consideration at closing representing 19.9 per cent of Laurentian's shares outstanding following completion of the acquisition and an initial $7.5-million financing. The Madsen gold project The Madsen gold project consists of 237 patented and leased mining claims covering an area of 4,193 hectares and includes two former gold producers (Madsen, Starrett-Olsen). The Madsen gold mine operated continuously from 1938 to 1974, and 1997 to 1999. Total recorded production is 7,872,679 metric tonnes at an average grade of 9.7 grams per tonne gold producing 2,452,388 ounces of gold. In 2009, SRK Consulting Inc. calculated a mineral resource for the Madsen gold mine. SRK compiled a geological database consisting of 13,617 historic surface and underground core holes, 647 stope boreholes and six underground core drill holes completed by Claude. Using this database SRK estimated an indicated and inferred mineral resource for four mineralized zones accessible from the underground mine workings.