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Just went over 1200$; 1204.90 AND Just running sideways now.
Nice to see the US $ dropping over the last week or so....always good for the P. Metals.
Well I wonder what Jim has planned for FMG this year. I am sure he will be looking to get us a new parnter soon. I would think he is as anxious as we are.
With Gold moving nicely it will be good for us too.
Cheers
W. C. Guy
Thanks Herb. yes 2017 has to be better for FMG.
After last year it can only go up.
Gold had a good jump between Christmas and 31. Let's see where it goes in January.
All the best to all in 2017.
cheers
West Coast Guy
By Adam Hamilton.
A good Source of Knowledge on why gold rallys in November & Dec. and through to Feb.
Cheers
W.C. Guy
Hi Herb
You Said "I haven't read in a news release that it is not alive. That would be material that should be diseminated to the public, I'm sure. That is very important news indeed. I just keep wondering if the other company was looking for a loophole to weasel out of their agreement and still have had a good look at the books so they can try another tact to gain control of this company."
That is true.....he would have to release News that the Deal is Dead!
No news referring to this Good.......Not hearing anything else about the deal means he is still Talking and working on things.
Could be that Chester fron Corex is trying to pull the rug out from FMG too. Jim will take the BEST deal he can. Waiting a year for someone to come to the table is a long time But sometimes business deal are so slow to go through; but it does not mean it can not still happen.
Jim holds a majority of the shares personally! He has only sold small amounts over the years to Keep FMG afloat and to look after his personal needs.
My opion is wait and don't throw in the towel yet! Just like the rest of us it is very hard to wait.
I have been waiting 10 years Now for my first buy in.
I am "staying the Course with FMG."
This is ONLY my Persona lfeeling and Thoughts.
Cheers
West Coast Guy
Tuesday, October 11, 2016
News Release
Corex Announces Equity Financing by Alamos Gold Inc.
Vancouver, BC -- October 11, 2016, Corex Gold Corp. ("Corex" or the "Company"), announces that it has entered into a subscription agreement to issue 25,300,000 common shares ("Shares") of the Company (the "Alamos Shares") to Alamos Gold Inc. at a price of $0.10 per Share. The Company has also entered into subscription agreements to issue an aggregate of 3,000,000 Shares (the "Management Shares") to certain members of management of the Company or their affiliates ("Management") at a price of $0.10 per Share.
In addition, in accordance with an agreement between the Company and H Morgan & Company ("HMC") as more particularly discussed in the Company's news release dated June 23, 2014, HMC holds a right to participate in all of the Company's equity financings to maintain its partially diluted ownership in the Company for as long as HMC is the manager of activities on the Company's Santana property. In this regard, and based on the Company's knowledge as to HMC's share ownership, HMC has the right to purchase 6,105,831 Shares (the "Participation Shares") in connection with the issuance of the Alamos Shares and the Management Shares at a price of $0.10 per Share.
In the event that HMC does not exercise its right to purchase the Participation Shares, upon completion of the issuance of the Management Shares and the Alamos Shares, Alamos will own approximately 19.99% of the issued and outstanding shares of the Company; HMC will (to the knowledge of the Company) own approximately 14% of the issued and outstanding shares of the Company; and Management will own, in the aggregate, 9% of the issued and outstanding shares of the Company. In the event that HMC exercises its right to purchase the Participation Shares, upon completion of the issuance of the Management Shares and the Alamos Shares, Alamos will own approximately 19.07% of the issued and outstanding shares of the Company; HMC will (to the knowledge of the Company) own approximately 17.75% of the issued and outstanding shares of the Company; and Management will own, in the aggregate, 8% of the issued and outstanding shares of the Company.
In connection with the issuance of the Alamos Shares, the Company has also granted Alamos the right to nominate up to two directors to the Company's board of directors. Alamos has elected not to exercise such right at this time but retains the right to do so in the future by giving written notice to the Company. The Company has also granted Alamos a participation right to maintain its pro rata share ownership in the Company at up to 19.99%.
The transactions are expected to close concurrently on or about October 20, 2016, and are subject to certain conditions, including, but not limited to the receipt of acceptance from the TSX Venture Exchange. All securities issued pursuant to the transactions will be subject to a statutory four-month hold period under applicable securities laws.
As both Management and HMC are considered to be "related parties" of the Company, the issuance of the Management Shares and Participation Shares (if any) will be considered to be "related party transactions" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). All of the independent directors of the Company, acting in good faith, considered the transactions and have determined that the fair market value of the securities being issued to Management and HMC (if any) and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) or (b) of MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the transactions as details of the transactions were not settled until shortly before the anticipated closing date.
The purpose and business reasons of the transactions are to obtain financing for the Corex's Santana project, to settle certain outstanding indebtedness of the Company and for general working capital purposes.
About Corex Gold Corporation
Corex Gold Corporation is a Canadian resource company focused on the near-term production, of its 100% owned flagship property, Santana Project, Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex's 100% owned Zuloaga property in Zacatecas State, Mexico.
About Alamos
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Mexico, Turkey, Canada and the United States. Alamos employs more than 1,300 people and is committed to the highest standards of sustainable development. The Company's shares are traded on the TSX and NYSE under the symbol "AGI".
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Craig Schneider,
President & CEO
Tel: 604.683.2505
E-mail: info@corexgold.com
Website: www.corexgold.com
You can also view this News Release on our website at:
http://www.corexgold.com/s/NewsReleases.asp?ReportID=767251
Cheers
West Coast Guy
http://www.mining.com/monetary-supercycle-demise-add-1000s-gold-price/?utm_source=twitterfeed&utm_medium=twitter
On Thursday gold continued to drift lower following Tuesday's crash through the $1,300 an ounce level to its lowest since June, before the Brexit vote lit a fire under the metal.
In early trade December futures trading on the Comex market in New York touched a low of $1,265.10 an ounce, the fifth down day in a row.
Diego Parilla, managing director and head of commodities at Old Mutual Global Investors, told Bloomberg's Rishaad Salamat on Trending Business, that the bubble in government debt and equities, the extended period of very low and now negative interest rates in developed markets could only end in pain for investors.
Parilla calls it a monetary supercycle and the excesses of financial inflation would lead to an appreciation in the gold price of "several thousands of dollars":
Have a Nice Thanksgiving with Family & Friends!
cheers