Post by sandi66 on Oct 30, 2007 20:02:38 GMT -5
Some of you have heard me say I had come across an article way back in 1992 mentioning Minera Nevada and Barrick Gold, being given "red carpet" treatment in a South American country. Well evidently Minera Nevada and Barrick still have some associations.
www.capellaresources.com/s/NewsReleases.asp?ReportID=160605&_Type=News&_Title=Capella-Announces-Acquisition-Of-Gold-Mine-And-Exploration-Properties-In-Ec
November 30, 2006
Capella Announces Acquisition Of Gold Mine And Exploration Properties In Ecuador
Vancouver, B.C., November 30, 2006 -- CAPELLA RESOURCES LTD. (TSX-V: CPS) ("Capella" or the "Company") is pleased to announce that it has reached an agreement in principal (the "Agreement") to acquire all of the issued and outstanding common shares of Minera Nevada S.A. ("Minera Nevada") of Machala, Ecuador in exchange for 2,000,000 shares in the capital of the Company, subject to such applicable hold period as required by the TSX-V, at a deemed price of CAN$1.00 per share plus a cash payment of US$4,500,000 payable as follows: (i) US$500,000 upon execution of a definitive agreement; (ii) US$1,000,000 upon the later of TSX-V approval or January 6, 2007 and (iii) US$3,000,000 payable from production at a rate of 25% of net profit less any outstanding liabilities of Minera Nevada as at the date of the closing of the transactions contemplated by the Agreement.
A finder's fee of up to 5% of the transaction value will be payable by the Company in connection with the acquisition of the shares of Minera Nevada.
The closing of the transactions contemplated by the Agreement is subject to a number of conditions including: (i) obtaining all necessary regulatory approvals; (ii) the Company being satisfied with the results of its due diligence with respect to Minera Nevada and (iii) entering into a definitive share purchase agreement.
Description of Minera Nevada's Assets
Minera Nevada's assets comprise a 100% interest in the Grand Gold Mine and Yellow River Process Facility located in the Portovelo-Zaruma-Ayapamba district of southern Ecuador.
Since 1905 the Grand Mine has produced 3.5 million ounces of gold while being operated by the Southern American Development Company. Currently the Grand Mine employs 67 individuals including shift management, engineers, geologists and miners. Production at rate of 100 tons per day is derived from level three with development occurring on level four. There is currently no National Instrument 43-101 compliant reserve associated with this property.
The Yellow River Process Facility is a newly built conventional cyanide carbon plant which achieves 97% recovery of gold with current capacity of 100 tons per day. The plant employs 37 individuals including metallurgists, engineers, chemists and shift workers. Plans are currently underway to increase the capacity of the plant in increments to 500 tons per day. There is currently no National Instrument 43-101 compliant reserve associated with this property.
Minera Nevada maintains an administrative staff of 16 in the Machala office and network of exploration geologists throughout Ecuador.
In addition to the above properties, the Company will have an option on eight other unique gold exploration properties elsewhere in Ecuador including: Bella Maria, Cuenca, Fierro Urco, Santa Barbara Aurelian, Virom, Naranjal, Chilla and Bucay.
Cautionary Statement
Readers are cautioned that while the historical data quoted herein is considered to be relevant, it is based on publicly available sources and does not comply with the guidelines of National Instrument 43-101 as it is not data based on mineral resource estimates verified by a Qualified Person. Readers should not rely upon the historical data until it can be verified by a National Instrument 43-101 compliant study which the Company intends to carry out in due course.
About Capella Resource Ltd.
Capella is a junior exploration company currently exploring for a world class gold deposit on its Tinton Gold Property located 15 kilometres west-northwest of the historic Homestake Mine in the Black Hills of South Dakota. In its 125 year history the Homestake Mine produced more than 40 million ounces of gold. With a team of ex-Homestake professionals, Capella has intensified its search for another giant. Capella is currently obtaining the necessary environmental and exploration permits in preparation of a January 2007 drill start-up.
The Company is also active in the Maricunga Gold and Copper District of northern Chile. It has recently completed a phase 1 drill program at its Lajitas Property (Dorado) in the Maricunga. Results are pending. The Company holds a 100% interest in all of its properties.
For further information, please contact Mr. Richard Bachman, President and Chief Geological Officer at 775-721-8883 or visit the Company's website located at www.capellaresources.com.
CAPELLA RESOURCES LTD.
Website: www.capellaresources.com/s/Home.asp
Filing: www.secinfo.com/d13Smf.u6d.b.htm International Royalty Corp · 6-K · For 4/2/07 · EX-99.3
Exhibit 15 - 13
TRANSFER OF RIGHTS
TO PART OF THE STOCK SALE PRICE BETWEEN
JIMENA UGARTE ABREGO
TO
INTERNATIONAL ROYALTY CORPORATION
Mr. George Spencer Young, attorney, married, passport number 017278192, citizen of the United States of America, temporarily residing at Vitacura 2939, floor 10, Las Condes, Santiago, Chile, fully authorized to represent International Royalty Corporation, a corporation organized under the laws of the Province of Alberta, Canada with the same address as previously cited and Mrs. Jimena Ugarte Abrego, Chilean, married, home owner, holder of national identity number 9.482.912-7, and residing at Pedro Lira Urquieta 11.416 Lo Barnechea, Santiago, of legal age, identified by the identification documents previously cited, all hereby declare that they agree an the transfer of rights of the contract to be named under all the terms and conditions found in the following clauses:
FIRST: ANTECEDENT
1. By public registration dated December 26, 1997 and executed before the Santiago notary public, Mr. Arturo Carvajal Escobar, (hereinafter also known as the “Stock Sale Contract”), Mr. Jaime Ugarte Lee and Mr. Jaime Ugarte Abrego sold, assigned and transferred to Compañía Minera Barrick Chile Limitada, a total of 2.760 shares and 300 shares, respectively, of COMPAÑIA MINERA NEVADA S.A., (hereinafter “the Company”) a corporation with a registration date of February 7, 1983 in the public registry, executed before the Santiago Notary, Mr. Patricio Rios Vergara, a substitute for Mr. Mario Farren Cornejo, whose statement was filed in the Registro de Comercio del Conservador de Bienes Raices [Commercial Registry of the Real Estate Registrar], folio 3261 number 1812 year number 1983.
2. Pursuant to Section 5 of the Stock Sale Contract, the stock sale price totaled a sum of seven million dollars (US $7,000,000), in addition to the variable royalty price which is to be calculated according to the formula established in Subsection (b) and subsequent sections.
3. Likewise, the Stock Sale Contract provided that the total stock sale price was to be distributed between the sellers, or between Mr. Jaime Ugarte Lee and Mr. Jaime Ugarte Abrego, in proportion to the stock sold under the Stock Sale Contract and purchased by Compañía Minera Barrick Chile Limitada, (hereinafter “Barrick”), for an amount of US$7.000.000. Moreover, Barrick agreed to pay a variable royalty amount for the stock sale as follows:
3.1.- A sum of US $3,500,000 to be paid within a maximum of a 10 day period from the date that COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, has produced a minimum of 30,000 ounces of troy gold during a 30 consecutive day period as provided in Subsection (b) of Section 5 of the Stock Sale Contract;
3.2.- A sum of US $3,500,000 to be paid within 30 days following the date that COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, has completed thirty six (36) months of production of at least 30,000 ounces of troy gold, in a one month calendar period, whether they are consecutive or not as provided in Subsection (c) of Section 5 of the Stock Sale Contract.
3.3.- A sum determined on a variable percentage of refined gold sales of COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, from the exploitation of the mining concessions owned at this time by this Company and as identified in Annex A, which said exhibit was signed by the parties and considered an integral part of said Contract, pursuant to Subsection (d) of Section 5 of the Stock Sale Contract. Said percentage is to be applied quarterly, during each calendar quarter of operation, for a term of 120 years from the date of the Stock Sale Contract. The value of the sales will be determined according to the daily price of refined gold known as “Cash Settlement” in the “London Bullion Broker,” “P.M. Fix,” or “London Final” during the respective quarter.
Likewise, it was stipulated that if the London Bullion Brokers were to cease to exist or to issue daily quotes for gold, all references to said entity would be made to the entity that replaces it and that establishes daily gold prices for gold for immediate delivery in an open global market.
The royalty to be paid will be calculated according to the following scale for quarterly average gold price, determined as follows.
(1)
If the average price of gold is US $325 per troy ounce or less, the percentage will be 0.75%.
(2)
If the average price of gold is US $350 per troy ounce, the percentage will be 1%.
(3)
If the average price of gold is US $375 per troy ounce, the percentage will be 1.25%.
(4)
If the average price of gold is US $400 per troy ounce, the percentage will be 1.5%.
(5)
If the average price of gold is US $500 per troy ounce, the percentage will be 2.6%.
(6)
If the average price of gold is US $600 per troy ounce, the percentage will be 3.4%.
(7)
If the average price of gold is US $700 per troy ounce, the percentage will be 4.2%.
(8)
If the average price of gold is US $800 per troy ounce or more, the percentage will be 5%.
In the event of average gold prices per troy ounce that are not provided specifically in the scale, the percentage paid will be determined using a straight interpolation between the prices and the percentages provided for in the scale, rounding off the results to the nearest figure to two decimals of one percent (1.0%).
For this purpose, it was established that the amount of gold would be determined by the number of troy ounces of refined gold produced by COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, or delivered to the Company or at its direction [or expense], by the Refinery, Smelter, or another Processor to which the Company has delivered minerals from the mining concessions found in Annex A, during a calendar quarter. Refined gold will be defined as that which meets or exceeds the normal accepted commercial standards in the commodities market of London [Metal Exchange] or the United States of America, as good delivery gold or “Bullion Gold.”
3.4.- A sum equal to a percentage based on the value of the sales of unrefined gold contained in the minerals, concentrates, precipitates, cathodes, leached products or any other product, whether it is final or intermediate, expressly excluding refined gold that may have been sold by COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, from the exploitation of the mining concessions identified in Annex A pursuant to Subsection (e) of Section 5 of the Stock Sale Contract. It was expressly established that the sellers would have the right to a percentage from the sale of gold payable to COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, according to the distributions between the Company and the refinery, smelter and processor or other purchaser, in market conditions, based on the exchange of analysis and/or on the corresponding arbitration or other mechanisms to solve disputes as provided in this agreement, during a calendar quarter, without taking into account the eventual hedging. To determine the average percentage to apply in a quarter, in accordance with the scale established in the preceding Subsection (d), it will be presumed that the average gold price is equal to the total price actually paid during the quarter, divided by the number of troy gold ounces paid according to the final distributions for that quarter.
You can read the entire filing yourself.
I'd be keeping a watch out for further developments here.
LAS VEGAS--(BUSINESS WIRE)--Oct. 27, 2004--Minera Nevada S.A. and CMKM Diamonds Inc. (Pink Sheets: CMKX - News) proudly announced today that the first week of gold ore has been mined at the American Mine in Ecuador and has been shipped to U.S. Canadian Minerals Inc.'s (OTC BB: USCA - News) Yellow River processing facility for immediate ore extraction.
Urban Casavant, president of CMKM Diamonds Inc., exclaimed, "It's an exciting day for the CMKX shareholders. Our diversification plan is well underway and moving toward revenue and income."
Barrick Press Releases: www.barrick.com/News/PressReleases/2007/default.aspx
I think we should be keeping a watch out for more developments here.
www.capellaresources.com/s/NewsReleases.asp?ReportID=160605&_Type=News&_Title=Capella-Announces-Acquisition-Of-Gold-Mine-And-Exploration-Properties-In-Ec
November 30, 2006
Capella Announces Acquisition Of Gold Mine And Exploration Properties In Ecuador
Vancouver, B.C., November 30, 2006 -- CAPELLA RESOURCES LTD. (TSX-V: CPS) ("Capella" or the "Company") is pleased to announce that it has reached an agreement in principal (the "Agreement") to acquire all of the issued and outstanding common shares of Minera Nevada S.A. ("Minera Nevada") of Machala, Ecuador in exchange for 2,000,000 shares in the capital of the Company, subject to such applicable hold period as required by the TSX-V, at a deemed price of CAN$1.00 per share plus a cash payment of US$4,500,000 payable as follows: (i) US$500,000 upon execution of a definitive agreement; (ii) US$1,000,000 upon the later of TSX-V approval or January 6, 2007 and (iii) US$3,000,000 payable from production at a rate of 25% of net profit less any outstanding liabilities of Minera Nevada as at the date of the closing of the transactions contemplated by the Agreement.
A finder's fee of up to 5% of the transaction value will be payable by the Company in connection with the acquisition of the shares of Minera Nevada.
The closing of the transactions contemplated by the Agreement is subject to a number of conditions including: (i) obtaining all necessary regulatory approvals; (ii) the Company being satisfied with the results of its due diligence with respect to Minera Nevada and (iii) entering into a definitive share purchase agreement.
Description of Minera Nevada's Assets
Minera Nevada's assets comprise a 100% interest in the Grand Gold Mine and Yellow River Process Facility located in the Portovelo-Zaruma-Ayapamba district of southern Ecuador.
Since 1905 the Grand Mine has produced 3.5 million ounces of gold while being operated by the Southern American Development Company. Currently the Grand Mine employs 67 individuals including shift management, engineers, geologists and miners. Production at rate of 100 tons per day is derived from level three with development occurring on level four. There is currently no National Instrument 43-101 compliant reserve associated with this property.
The Yellow River Process Facility is a newly built conventional cyanide carbon plant which achieves 97% recovery of gold with current capacity of 100 tons per day. The plant employs 37 individuals including metallurgists, engineers, chemists and shift workers. Plans are currently underway to increase the capacity of the plant in increments to 500 tons per day. There is currently no National Instrument 43-101 compliant reserve associated with this property.
Minera Nevada maintains an administrative staff of 16 in the Machala office and network of exploration geologists throughout Ecuador.
In addition to the above properties, the Company will have an option on eight other unique gold exploration properties elsewhere in Ecuador including: Bella Maria, Cuenca, Fierro Urco, Santa Barbara Aurelian, Virom, Naranjal, Chilla and Bucay.
Cautionary Statement
Readers are cautioned that while the historical data quoted herein is considered to be relevant, it is based on publicly available sources and does not comply with the guidelines of National Instrument 43-101 as it is not data based on mineral resource estimates verified by a Qualified Person. Readers should not rely upon the historical data until it can be verified by a National Instrument 43-101 compliant study which the Company intends to carry out in due course.
About Capella Resource Ltd.
Capella is a junior exploration company currently exploring for a world class gold deposit on its Tinton Gold Property located 15 kilometres west-northwest of the historic Homestake Mine in the Black Hills of South Dakota. In its 125 year history the Homestake Mine produced more than 40 million ounces of gold. With a team of ex-Homestake professionals, Capella has intensified its search for another giant. Capella is currently obtaining the necessary environmental and exploration permits in preparation of a January 2007 drill start-up.
The Company is also active in the Maricunga Gold and Copper District of northern Chile. It has recently completed a phase 1 drill program at its Lajitas Property (Dorado) in the Maricunga. Results are pending. The Company holds a 100% interest in all of its properties.
For further information, please contact Mr. Richard Bachman, President and Chief Geological Officer at 775-721-8883 or visit the Company's website located at www.capellaresources.com.
CAPELLA RESOURCES LTD.
Website: www.capellaresources.com/s/Home.asp
Filing: www.secinfo.com/d13Smf.u6d.b.htm International Royalty Corp · 6-K · For 4/2/07 · EX-99.3
Exhibit 15 - 13
TRANSFER OF RIGHTS
TO PART OF THE STOCK SALE PRICE BETWEEN
JIMENA UGARTE ABREGO
TO
INTERNATIONAL ROYALTY CORPORATION
Mr. George Spencer Young, attorney, married, passport number 017278192, citizen of the United States of America, temporarily residing at Vitacura 2939, floor 10, Las Condes, Santiago, Chile, fully authorized to represent International Royalty Corporation, a corporation organized under the laws of the Province of Alberta, Canada with the same address as previously cited and Mrs. Jimena Ugarte Abrego, Chilean, married, home owner, holder of national identity number 9.482.912-7, and residing at Pedro Lira Urquieta 11.416 Lo Barnechea, Santiago, of legal age, identified by the identification documents previously cited, all hereby declare that they agree an the transfer of rights of the contract to be named under all the terms and conditions found in the following clauses:
FIRST: ANTECEDENT
1. By public registration dated December 26, 1997 and executed before the Santiago notary public, Mr. Arturo Carvajal Escobar, (hereinafter also known as the “Stock Sale Contract”), Mr. Jaime Ugarte Lee and Mr. Jaime Ugarte Abrego sold, assigned and transferred to Compañía Minera Barrick Chile Limitada, a total of 2.760 shares and 300 shares, respectively, of COMPAÑIA MINERA NEVADA S.A., (hereinafter “the Company”) a corporation with a registration date of February 7, 1983 in the public registry, executed before the Santiago Notary, Mr. Patricio Rios Vergara, a substitute for Mr. Mario Farren Cornejo, whose statement was filed in the Registro de Comercio del Conservador de Bienes Raices [Commercial Registry of the Real Estate Registrar], folio 3261 number 1812 year number 1983.
2. Pursuant to Section 5 of the Stock Sale Contract, the stock sale price totaled a sum of seven million dollars (US $7,000,000), in addition to the variable royalty price which is to be calculated according to the formula established in Subsection (b) and subsequent sections.
3. Likewise, the Stock Sale Contract provided that the total stock sale price was to be distributed between the sellers, or between Mr. Jaime Ugarte Lee and Mr. Jaime Ugarte Abrego, in proportion to the stock sold under the Stock Sale Contract and purchased by Compañía Minera Barrick Chile Limitada, (hereinafter “Barrick”), for an amount of US$7.000.000. Moreover, Barrick agreed to pay a variable royalty amount for the stock sale as follows:
3.1.- A sum of US $3,500,000 to be paid within a maximum of a 10 day period from the date that COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, has produced a minimum of 30,000 ounces of troy gold during a 30 consecutive day period as provided in Subsection (b) of Section 5 of the Stock Sale Contract;
3.2.- A sum of US $3,500,000 to be paid within 30 days following the date that COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, has completed thirty six (36) months of production of at least 30,000 ounces of troy gold, in a one month calendar period, whether they are consecutive or not as provided in Subsection (c) of Section 5 of the Stock Sale Contract.
3.3.- A sum determined on a variable percentage of refined gold sales of COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, from the exploitation of the mining concessions owned at this time by this Company and as identified in Annex A, which said exhibit was signed by the parties and considered an integral part of said Contract, pursuant to Subsection (d) of Section 5 of the Stock Sale Contract. Said percentage is to be applied quarterly, during each calendar quarter of operation, for a term of 120 years from the date of the Stock Sale Contract. The value of the sales will be determined according to the daily price of refined gold known as “Cash Settlement” in the “London Bullion Broker,” “P.M. Fix,” or “London Final” during the respective quarter.
Likewise, it was stipulated that if the London Bullion Brokers were to cease to exist or to issue daily quotes for gold, all references to said entity would be made to the entity that replaces it and that establishes daily gold prices for gold for immediate delivery in an open global market.
The royalty to be paid will be calculated according to the following scale for quarterly average gold price, determined as follows.
(1)
If the average price of gold is US $325 per troy ounce or less, the percentage will be 0.75%.
(2)
If the average price of gold is US $350 per troy ounce, the percentage will be 1%.
(3)
If the average price of gold is US $375 per troy ounce, the percentage will be 1.25%.
(4)
If the average price of gold is US $400 per troy ounce, the percentage will be 1.5%.
(5)
If the average price of gold is US $500 per troy ounce, the percentage will be 2.6%.
(6)
If the average price of gold is US $600 per troy ounce, the percentage will be 3.4%.
(7)
If the average price of gold is US $700 per troy ounce, the percentage will be 4.2%.
(8)
If the average price of gold is US $800 per troy ounce or more, the percentage will be 5%.
In the event of average gold prices per troy ounce that are not provided specifically in the scale, the percentage paid will be determined using a straight interpolation between the prices and the percentages provided for in the scale, rounding off the results to the nearest figure to two decimals of one percent (1.0%).
For this purpose, it was established that the amount of gold would be determined by the number of troy ounces of refined gold produced by COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, or delivered to the Company or at its direction [or expense], by the Refinery, Smelter, or another Processor to which the Company has delivered minerals from the mining concessions found in Annex A, during a calendar quarter. Refined gold will be defined as that which meets or exceeds the normal accepted commercial standards in the commodities market of London [Metal Exchange] or the United States of America, as good delivery gold or “Bullion Gold.”
3.4.- A sum equal to a percentage based on the value of the sales of unrefined gold contained in the minerals, concentrates, precipitates, cathodes, leached products or any other product, whether it is final or intermediate, expressly excluding refined gold that may have been sold by COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, from the exploitation of the mining concessions identified in Annex A pursuant to Subsection (e) of Section 5 of the Stock Sale Contract. It was expressly established that the sellers would have the right to a percentage from the sale of gold payable to COMPAÑIA MINERA NEVADA S.A., or its successor in title to the mining concessions, according to the distributions between the Company and the refinery, smelter and processor or other purchaser, in market conditions, based on the exchange of analysis and/or on the corresponding arbitration or other mechanisms to solve disputes as provided in this agreement, during a calendar quarter, without taking into account the eventual hedging. To determine the average percentage to apply in a quarter, in accordance with the scale established in the preceding Subsection (d), it will be presumed that the average gold price is equal to the total price actually paid during the quarter, divided by the number of troy gold ounces paid according to the final distributions for that quarter.
You can read the entire filing yourself.
I'd be keeping a watch out for further developments here.
LAS VEGAS--(BUSINESS WIRE)--Oct. 27, 2004--Minera Nevada S.A. and CMKM Diamonds Inc. (Pink Sheets: CMKX - News) proudly announced today that the first week of gold ore has been mined at the American Mine in Ecuador and has been shipped to U.S. Canadian Minerals Inc.'s (OTC BB: USCA - News) Yellow River processing facility for immediate ore extraction.
Urban Casavant, president of CMKM Diamonds Inc., exclaimed, "It's an exciting day for the CMKX shareholders. Our diversification plan is well underway and moving toward revenue and income."
Barrick Press Releases: www.barrick.com/News/PressReleases/2007/default.aspx
I think we should be keeping a watch out for more developments here.
