@elefant,
wennst´meinst..........
Wie hieß es immer: "Der Vergleich macht sie sicher."
@eldo,
aber der Grosso sagt, was mit deine 1,5% passiert.........
Genco hat nun schon die Mill gekauft:
Genco Purchases 3,000 Tonne Per Day Ball Mill in Anticipation of Expansion
Tuesday February 12, 1:31 pm ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2008) - Genco Resources Ltd. (TSX:GGC - News) is pleased to announce it has purchased a 3,000 tonne per day ball mill that will be incorporated into Genco's production expansion initiative at La Guitarra mine complex located in the Temascaltepec Silver/Gold Mining District in Mexico State, Mexico. The purchase price for the mill was US$1.65 million.
Genco's President Gregory K. Liller states, "Since our initiation of a full feasibility study, Kappes Cassiday & Associates have been actively sourcing key equipment and components whose availability or delivery lead time could delay the planned expansion of mining, milling and production at La Guitarra. Current quoted delivery times for a new ball mill are 1 1/2 - 3 years or more depending on the vendor. The mill purchase correlates closely with Genco's objective to fast track production expansion at La Guitarra, and to take advantage of current silver prices. The proactive purchase of this ball mill will keep Genco on track to achieve its objective of significantly increasing production by the end of 2009. We will continue to work proactively to identify, assess and address potential bottle-necks in achieving our goals. Any delay or hesitancy in achieving our production goal, is unacceptable to Genco's staff, management and directors."
Genco is a primary silver producer in Mexico, whose core assets are multiple mining sites, including La Guitarra Mine, located in its wholly-owned Temascaltepec Mining District of central Mexico. It has engaged Kappes Cassiday & Associates as the lead consulting firm to complete a feasibility study on a mine and plant expansion at La Guitarra. The feasibility study is being fast tracked and focusing on a combination of conventional milling and heap leach processing with silver and gold recovery from a central facility.
Und einen Merger gab es auch:
American Bonanza BZA.TO mit Gryphon GGN.TO
da ensteht wieder ein nevadalastiger Junior mit Arizona und ein oaar sehr hoffnungsvollen properties.
An BZA hab ich mir schon einmal die Griffel verbrannt......
Gryphon Gold Announces Planned Merger With American Bonanza
Tuesday February 12, 4:00 pm ET
VANCOUVER, BC--(MARKET WIRE)--Feb 12, 2008 -- Gryphon Gold Corporation (Toronto:GGN.TO - News) (OTC BB:GYPH.OB - News) ("Gryphon Gold") and American Bonanza Gold Corp. (Toronto:BZA.TO - News) (Frankfurt:AB2.F - News) ("American Bonanza") have signed a Letter of Intent to merge American Bonanza into a wholly owned subsidiary of Gryphon Gold through a Plan of Arrangement. Shareholders of American Bonanza will receive 0.50 shares of Gryphon Gold for every share of American Bonanza and options and warrants will be exchanged on the same ratio.
The merger is part of an overall business strategy to increase gold resources through acquisition, exploration and joint ventures in politically stable jurisdictions with long histories of gold mining.
Both Companies believe that this merger will:
-- Provide a pipeline of projects at various stages of development.
-- Result in greater market interest through being a larger company.
-- Result in administrative cost savings.
-- Bring together two near-term production properties;
Gryphon Gold's Borealis property in Nevada has potential for development of:
-- An oxide gold heap leach mine that is already permitted.
-- A near-term, underground high-grade gold mine at the Graben deposit or a
longer-term option of a large open pit.
-- Significant exploration prospects with gold mineralization potential.
American Bonanza's Copperstone property in Arizona has potential for:
-- Near-term, oxide, high-grade, underground mine production with short
permitting and construction timelines,
-- Significant expansion of the Copperstone gold resources based on two
exciting new gold discoveries with million ounce mineralization
potential
Gryphon Gold brings positive exposure to the benefits of gold exploration and resource expansion with nominal cash expenditures through exploration at over 50 properties -- primarily through joint venture and leasing agreements. This property portfolio and strategy is expected to allow the combined company to focus on the development of the Borealis and Copperstone properties.
American Bonanza's Joint Venture with Agnico-Eagle on the Northway and Vezza deposits offers potential for a third gold mining project. Other American Bonanza projects in Ontario and Quebec offer significant potential to develop additional resources. The Fenelon property lies in Quebec's Casa Berardi gold district and drilling has identified two large nickel rich zones. American Bonanza continues to advance other exploration projects, including the La Martinière gold project in Quebec.
American Bonanza has sold the Taurus property in northern British Columbia to Hawthorne Gold Corporation. Under that agreement, American Bonanza is expected to receive further payments of Cdn$5 million by December 22, 2009. An additional Cdn$3 million is due to American Bonanza upon the completion of a feasibility study or the commencement of production.
The current cash reserves of the combined company amounts to approximately Cdn$9 million. Future cash receipts from the sale of the Taurus property is expected to total Cdn$5 to Cdn$8 million. Outstanding Quebec mining tax credits due to American Bonanza total up to Cdn$2 million and will be to the credit of the merged entity. Therefore, current cash on hand plus expected receipts totals Cdn$16 to Cdn$19 million. The combined financial strength of the Companies is expected to allow significant development at the Borealis and Copperstone projects.
The board and management structure of the combined Company is expected to be as follows: Tony Ker, Richard Hughes, Rohan Hazelton, Don Gentry (of Gryphon Gold), and Brian Kirwin and Giulio Bonifacio (of American Bonanza) will serve as directors of the merged company. Tony Ker will serve as Chief Executive Officer and Michael Longinotti will serve as Chief Financial Officer of the combined company.
Tony Ker, CEO of Gryphon Gold, states, "I believe that this merger will strengthen the Company's resource, management and financial base. The merger is expected to enable the Company to further its business strategy of developing and acquiring more gold resources in politically stable jurisdictions that have either great exploration potential or near-term production potential. I look forward to working with Brian and Giulio in growing the company."
Under the terms of the Letter of Intent, the companies agreed, among other things, to negotiate definitive agreements in good faith. The merger is subject to approval of the British Columbia court, approval by American Bonanza's shareholders, TSX approval, final approval by the boards of directors of American Bonanza and Gryphon Gold, American Bonanza receiving an opinion on the fairness of the merger, and other customary closing conditions.
The Companies have agreed to pay break-up fees in the following circumstances:
(1) Either Company shall pay the other the sum of US$150,000 in cash, plus an amount equal to all of the reasonable documented expenses incurred by the other in connection with the transactions contemplated by the merger (not to exceed US$50,000), if either the letter of intent or the arrangement agreement is terminated by the other Company due to certain actions set forth in the letter of intent.
(2) American Bonanza shall pay Gryphon Gold the sum of US$900,000 in cash, plus an amount equal to all of the reasonable, documented expenses incurred by Gryphon in connection with the transactions contemplated by the letter of intent in an amount (not to exceed US$50,000), if the board of directors of American Bonanza, among other things, determines not to recommend the merger with Gryphon Gold to the shareholders of American Bonanza and does not consummate the merger with Gryphon Gold.
Conference call details:
A conference call is scheduled for February 14, 2008, and will be hosted by Gryphon Gold Chief Executive Officer Mr. Tony Ker and American Bonanza Chief Executive Officer Mr. Brian Kirwin. An invitation is extended to all interested investors, analysts or media representatives to attend.
Timing and dial-in details appear below: Pacific Standard Time.
Schedule of events
8:00 AM Pacific Standard Time: To participate in the conference call the
following numbers: Participant number: (416) 644-3422 or
Participant number: Toll-Free: 800-594-3790
The replay will be available for 7 days from Thursday, February 14 1:00pm
until Thursday February 21 11:59pm
416-640-1917 passcode 21263185#
877-289-8525 passcode 21263185#
ON BEHALF OF THE BOARD OF DIRECTORS
TONY KER, CEO
GRYPHON GOLD CORPORATION
Full financial statements and securities filings are available: for Gryphon Gold Corporation, on its website: http://www.gryphongold.com and http://www.sec.gov or http://www.sedar.com; and for American Bonanza Gold Corp on its website at http://www.americanbonanza.com and http://www.sedar.com. For further information contact: At Gryphon Gold Corporation, Tony Ker, Chief Executive Officer or Mike Longinotti, Chief Financial Officer by phone: 604-261-2229, or email at tker@gryphongold.com or mlonginotti@gryphongold.com