Noble Announces Change on its Board of Directors
April 22, 2021
Red Pine Exploration: The Wawa High Grade Gold Project
April 19, 2021
TORONTO, July 14, 2020 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce that Eric Sprott has agreed to increase his ownership in Karora by 26 million shares. In a strategic move, Karora has worked alongside Maverix Metals Inc. (“Maverix”) to effectively place the entire planned share issuance previously announced June 30, 2020 (see Karora news release dated June 30, 2020).
In lieu of issuing shares to Maverix, Karora will use the proceeds from total of 36.5 million common shares to be issued to Eric Sprott and one other institutional investor to complete the previously announced Maverix transaction with an all-cash consideration of US$18 million (subject to the conditions described in the Karora news release dated June 30, 2020). The shares of Karora to be issued to Mr. Sprott and the institutional investor will be issued at the same $0.506 price per share that had been agreed with Maverix. Subject to completion of the transactions, no common shares of Karora will be issued to Maverix.
Paul Andre Huet, Chairman & CEO of Karora, commented: “I am very excited that Eric Sprott, a highly influential and well-known leader in the resource investment community and one of the world’s premiere gold and silver investors, has significantly increased his investment in Karora. This investment is a strong endorsement of the confidence Mr. Sprott has in both our execution over the past year and our plans to unlock the value of our Western Australian gold mining assets.”
In total, Karora intends to issue 36.5 million common shares, made up of 26 million shares to Eric Sprott and the balance expected to be to another institutional investor. The completion of this investment transaction is subject to the approval of the Toronto Stock Exchange and other customary conditions. A cash finder’s fee will be payable to certain third parties in connection with this private placement of Karora shares.
About Karora Resources
Karora is focused on growing gold production and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.4 Mtpa processing plant which is fed at capacity from Karora’s underground Beta Hunt mine and open pit Higginsville mine. At Beta Hunt, a robust gold mineral resource and reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial historical gold resource and highly prospective land package totaling approximately 1,800 square kilometers. Karora has a strong Board and management team focused on delivering shareholder value. Karora’s common shares trade on the TSX under the symbol KRR. Karora shares also trade on the OTCQX market under the symbol KRRGF.
Cautionary Statement Concerning Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, statements with respect to the closing of the private placement.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Karora ‘s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining Operations
A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.
I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.
Canada Nickel Consolidates and Expands Nickel Land Package and Acquires Sixth Nickel Target From Noble Mineral Exploration
Keep up the great work @MarkSelby74 @CanadaNickel @NobleMineral $CNC.V $NOB $SHL #Nickel #NetZeroCarbon #Timmins
Canada Nickel Consolidates and Expands Nickel Land Package and Acquires Sixth Nickel Target From Noble Mineral Exploration
TORONTO, April 22, 2021 - Canada Nickel Company Inc. ("Canada Nickel" or "the Company") (TSXV: CNC) (OTCQB: CNIKF) is pleased to
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Windfall Geotek is building a solid team of very well connected individuals and developing strategic partnerships that are truly unlocking the value of the CARDS Technology
@WGeotek @DraganflyInc $WIN $WINKF $DFLY #AI #MachineLearning #Landminedetection
#Savinglives #NATO
Check out this beautiful mineralization at the top of the historic shaft on the Rickard Gold Property.
@ArcPacific_ACP $ACP is currently drilling on claim 18405, which encompasses the shaft and hasn't been touched in almost 70 years.
Very Exciting Project!
Windfall Geotek Announces Strategic Projects Advisory Board with Colonel Stephen Appleton as the Chairman
@WGeotek $WIN $WINKF $DFLY #Military #Nato #Landminedetection #savinglives #DisruptiveTech #Machinelearning #AI #Exploration #mining
Windfall Geotek Announces Strategic Projects Advisory Board with Colonel Stephen Appleton as the Chairman
Highlights: Highly Decorated Military officer Col Appleton agrees to lead Strategic Advisory Board for commercialization ...
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Looks Like our friends at @StGeorgesPlat have been busy staking some ground around the Manicouagan Palladium Project!
Looking forward to some exploration updates :) $SX $SXOOF @maikan5 @despac2 @Steeltown12345
Want to know more? follow the link
https://insidexploration.com/st-georges-eco-mining-the-manicouagan-palladium-project/
Better start paying attention to this project!
@ArcPacific_ACP $ACP is currently drilling around The Past Producing High Grade Rickard Gold Mine just North of Timmins, Ontario.
Early drilling looks very encouraging!
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© Copyright 2020 insidexploration.com | Multimedia and analytical due diligence database for the investing community | Contact us: insidexploration@gmail.com