The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Rimfire and Geoinformatics Converge
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WENDELL ZERB, B.SC., P. GEOL., Canaccord Genuity
(06/09/2009)
"Geoinformatics and Rimfire recently announced a proposed business combination. Details are as follows: Under the proposed transaction, Geoinformatics will acquire all of the issued and outstanding shares of Rimfire on the basis of 2.6 shares of Geoinformatics for each share of Rimfire. At the time of the announcement, this represented about a 33% premium for RFM shareholders. Jason Weber will be President and CEO of the new company, which will retain the Rimfire name. The transaction is subject to several conditions and must be approved by not less than two-thirds of RFM shareholders and on-half of GXL shareholders at special shareholder meetings scheduled for late July 2009. The combined company will have approximately 47.5 million shares outstanding following an initial 3:1 rollback of GXL shares. Geologic Resource Partners LLC holds approximately 84.9% of the issued and outstanding GXL common shares. Rimfire has a property portfolio that includes 15 gold and copper-gold projects in Canada and an earn-in option on three properties on trend with Northgate's Stawell gold mine in Australia. Rimfire management has a strong reputation for solid technical strength, integrity and sound capital management. Geoinformatics' key project of interest is the Whistler property in Alaska that covers 440 square kilometers in an area about 160 kilometers northwest of Anchorage. The Whistler project covers an E-W trending Au-Cu porphyry belt. Within the project area, Rimfire management suggests there are over 40 untested geological targets. The Whistler zone is the most advanced target in the area and currently hosts an NI 43-101 resource (indicated and inferred) containing about 5.75 million ounces AuEq. The Muddy Creek target area has returned rock chip samples (about 150) over an area of 3.2 by 3.3 kilometers averaging 4.72 g/t Au." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
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