Die Ralley vom September war nicht schlecht ;-)
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1x Copy und Paste aus dem W-A Forum
Advanced Explorations Inc. Announces 7.5 Million Flow Through Financing
Thursday June 19, 4:00 pm ET
TORONTO, June 19 /CNW/ - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that subject to TSX approval it intends to raise $7,500,000 through a non-brokered private placement sale of 2,500,000 Flow Through common shares at $3.00 per share. The Company may pay a total commission of up to 10%, payable in cash and/or compensation warrants priced at $3.00 with a 1 year term.
John Gingerich, President and CEO of AEI, commented;
"We are very pleased to be able to arrange this additional financing that will allow us to expand upon this year's program and mobilize equipment and supplies in support of next years' program as well. Together with the Development Agreement made with Melville Capital Corporation, the additional flow through funds will give the Company the ability to execute an aggressive development strategy".
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
ABOUT Advanced Explorations Inc.
AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project, which was acquired in June 2007, as well as, to develop new opportunities in the area and globally. The Roche Bay magnetite project is located proximal to a natural harbour which makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. For more information please visit www.Advanced-Exploration.com.
Advanced Explorations Inc. to Earn up to 70% Interest in Roche Bay Project
7/14/2008 1:13:13 PM - Canada NewsWire
TORONTO, Jul 14, 2008 (Canada NewsWire via COMTEX News Network) --
Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that it has amended its Farm In Agreement with Roche Bay Plc ("RB") that will allow AEI to earn up to a 70% interest (up from 50.1%) in the Roche Bay magnetite project in Nunavut. Pursuant to the amendments, on or before September 1st, 2008 AEI may give notice to exercise an option to acquire an additional 19.9% interest in the project for $19,500,000, consisting of $3,500,000 in cash and the issuance of 6 million AEI shares priced at $2.50 per share, all net of applicable Canadian withholding tax which the Company anticipates, based on the information provided by RB, should be $5,500,000.
John Gingerich, President and CEO of AEI, commented;
"The ability of AEI to acquire a substantial majority of the Roche Bay project is a significant step forward for the AEI shareholders. The simpler clear majority structure will impact our ongoing negotiations with members of the mining and steel communities. The resource and economic studies are in the pipeline and we expect to be in a position to announce the results of these studies later this summer."
The notional price of $2.50 per share represents a 77% premium ($1.09) over the current market price of the AEI shares. Roche Bay Plc has provided a significant period of time for AEI to initiate the option and conclude the transaction. The transaction is subject to the approval of the TSX Venture Exchange and, if required, pursuant to applicable securities laws, to the approval of the shareholders of AEI.
Benjamin Cox, President and CEO of Roche Bay plc, stated;
"We have been extremely pleased with the progress made by AEI and providing a flexible option from which to earn in to a greater share of the project demonstrates the confidence our company has that AEI will successfully advance this project to a production decision. We at Roche Bay, due to our economic view of the project, are willing to give up some of our ownership stake in exchange for a financing model under the current terms that takes us up to a 16 million tonnes per year project in the longer term"
In addition, the Company also announces that China Steel Resources Investment ("CSRI") has failed to meet its previously announced financing commitments. AEI has given notice to CSRI and Melville Capital Corporation ("MCC") that they are in breach, and all parties are working in best efforts to cure the breach. MCC has stated it remains committed to the AEI agreement. AEI has also received proposals from other interested parties to independently address its project requirements. In the long term AEI and MCC remain committed to the Aboriginal community development plans. AEI will release further details when it makes a decision with respect to MCC and/or alternatives sources. The beneficial restructuring and simplifying of the joint venture gives AEI more flexibility to consider alternative proposals and options.
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
LG!
Daytrader12
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TORONTO, July 22 /CNW/ - Advanced Explorations Inc. (the "Company or AEI") is pleased to announce new results from Zone C1 drilling on its Roche Bay iron project in Nunavut. The Company has now completed 11 holes along an additional 800 metres of strike north of the 2007 drilling. Drilling to the south of the main zone has provided further delineation while drills currently focus on definition drilling on the main zone.
Preliminary results have been received from 8 holes drilled to the south and north of the main zone. Hole RB-08-45 has returned a 92.6 metre interval averaging 28.6% Fe consistent with last year's drilling in this area. Drilling on lines 11400N and 11600N indicate the C Zone pinches to approximately 100 metres, but maintains grade. Drilling on lines 13200N and 13400N located further north of the 2007 drilling indicates the mineralization feathers into a number of narrow zones but also retains grade (33.8m @ 33.3% Fe in hole RBC-08-47).
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6![]() | 173 | Advanced Explorations WKN A0D8ZT | Röttgen | Base | 20.11.09 10:59 | |
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