The Word on OOO

Struthers Resource Stock Report (11/08/2010)
"I have heard that drilling on the Dog Bone target at Kilgore in Idaho is going very well. The odds look good here that they will hit more gold and this would mean a significant discovery and expansion to the gold resource. The stock has been unable to break the resistance level in the low $0.60s but I think it will do so shortly Otis also picked up a new strong shareholder with a private placement, Galena Asset Management is a subsidiary of the Trafigura Group, one of the world's largest independent commodities traders.

Otis Gold closed the first tranche of the private placement (PP) with Galena raising a total of $2,491,500 by issuing 4.53 million units at a price of $0.55 per unit. Each unit consists of one common share and one warrant which may be exercised to purchase one additional share at a price of $0.80 for 18 months from closing. This represents 9.9% of Otis outstanding shares. There will now be a second tranche for an additional $253,000, which will result in the issuance of an additional 460,000 units upon the same terms to Galena once there is an exchange filing to go over over 10% of the outstanding shares."

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