White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”) on their current exploration program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia (see Noronex ASX news release dated 8 July 2021). The Namibian Project comprises three Exclusive Prospecting Licences (EPLs) that cover 78,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The Project is prospective for sedimentary hosted Cu-Ag mineralisation within the prolific Kalahari Copper Belt that spans Namibia and Botswana.
Michael Stares, President & CEO of White Metal, stated, “This is great news for our shareholders and I am very pleased to have Noronex as a partner. They continue to demonstrate that they are very committed to moving the DorWit copper-silver project forward and have outlined some exceptional copper targets for drilling. I look forward to receiving the results from the upcoming drilling program.”
- Field visits by the Noronex team were undertaken in May and June to finalise drill planning. The visits confirmed sub-cropping copper mineralisation at geochemistry soil targets.
- Five high priority prospects defined for drill testing for large scale sediment hosted copper deposit including:
- sub-cropping copper at Dalheim with two-kilometre strike extent.
- gossan float at Gemboksvlei on a one-kilometre-long copper soil anomaly.
- outcropping copper at Otjiwaru over an 800 m wide zone.
- a 2.5 by 1.2 km copper-in-soil anomaly in an altered structural zone south of Okasewa.
- unexplained copper soil anomalies at the Christiadore prospect.
- Access agreements have been signed with landowners for the commencement of drilling, and a contract with a suitable drilling contractor is currently being finalised.
- A program of over fifty holes is being planned to test these targets.
- Trial IP survey is also planned at Gemboksvlei and Okasewa to define their IP signature.
- Meetings were held in-country with the Ministry of Mines, consultants appointed, and a subsidiary company and bank accounts established.
For additional information on the DorWit copper-silver project, please click the following link: https://www.whitemetalres.com/dorwit-cu-ag.html
dynaCERT (TSX.V-DYA) (OTCQB-DYFSF) is pleased to announce that it has received approval for an OTCQB listing making it easier for shareholders in the United States, as well as potential investors in the United States, to invest in dynaCERT.
The OTCQB Marketplace is for developing U.S. and international companies. Having an OTCQB listing increases investor confidence by having greater information available through the OTC Disclosure & News Service, transparent prices for investors through full depth of book with Real Time Level 2 quotes, knowing that Companies are current in their reporting and will undergo continuous verification and management certification process. Investors can find Real-Time Level 2 quotes and market information for dynaCERT on www.otcmarkets.com.
dynaCERT shares will continue to be traded on the TSX Venture Exchange under its existing symbol DYA.
Jim Payne, President and CEO of dynaCERT, states, “Various groups have been asking if we are trading on the OTCQB and dynaCERT is pleased to have been accepted and is trading at the opening of the market today. Given the significant market and potential global demand of dynaCERT’s HydraGenTM technology to reduce carbon emissions and fuel consumption, assisting in the world’s fight against climate change, we feel the OTCQB listing will create greater visibility allowing for a much larger potential shareholder base and enhanced liquidity.”
Coral Gold has entered into a purchase and sale agreement with Barrick Cortez for the sale of the Robertson Property in Lander County, Nevada in the amount of US$15.75 million (Cdn $20.17 million). Barrick will return 4,150,000 shares of Coral held by them for cancellation by the company.
Coral will retain an NSR on the Robertson, payable quarterly, as well as a right of first refusal enabling Barrick to acquire the NSR in the event that the Company wishes to sell the NSR to any third party.
The sliding scale NSR rate will be determined based on the observed gold price each quarterly period based on the average LBMA Gold Price. In the event the Robertson Property is not placed into production by December 31, 2023, then beginning on January 1, 2024 and continuing on an annual basis thereafter until the earlier of (i) the commencement of commercial production and (ii) January 2, 2033, Barrick will make advance royalty payments of US$500,000, which will be non-refundable and fully credited against any future obligations of the NSR.
Annual General and Special Meeting
The Annual General and Special Meeting of the shareholders of Coral Gold is scheduled to be held at 11AM (PDT) on Friday, July 22, 2016 at The Metropolitan Hotel, Vancouver Room, 645 Howe Street, Vancouver, BC, V6C 2Y9.
Reasons and Benefits of the Transaction
- Substantial immediate value creation for Coral shareholders. Based on Coral’s basic shares outstanding as of June 20, 2016 adjusted for the Share Reduction, the Immediate Cash Consideration alone, excluding the value of the NSR, on a per share basis is equal to approximately Cdn $0.46, as compared to the closing price of Coral’s common shares on June 20, 2016 on the TSX Venture Exchange of Cdn $0.195.
- The potential for long term value for Coral shareholders through the NSR. With this continued commercial relationship with Barrick through the NSR, Coral shareholders will have the opportunity to participate and benefit from expected future gold production at Robertson, additional resource growth potential at the Robertson Property, and will also have economic returns that will substantially improve if gold prices increase over the Robertson Property’s mine life.
- Strong financial position at closing. Upon closing of this Transaction, Coral will have a very strong balance sheet as compared to its very limited financial resources currently, which exposed its shareholders to significant dilution if the Robertson Property was to be advanced in any meaningful way.