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MacDonald Mines Exploration Ltd V.BMK

Alternate Symbol(s):  MCDMF

MacDonald Mines Exploration Ltd. is a Canada-based mineral exploration company. The Company is focused on the evaluation, acquisition, and development of precious and critical metals properties in Ontario. It is focused on exploring its 100%-owned, 19,455 ha Scadding-Powerline-Jovan (SPJ) Project located 20 kilometers (km) southeast of the prolific Sudbury Mining Camp in Northern Ontario. The SPJ property consists of the Scadding, Powerline, Jovan, Blueberry, Loney and Golden Copper properties. Scadding Mine, as well as additional mineral claims that surround the Scadding Mine site, which is located in Scadding Township near the Wanapitei-Ashigami Lakes district, east of Sudbury, Ontario. Its Hembruff Copper property consists of 30 mining claims over 6.64 square kilometers.


TSXV:BMK - Post by User

Post by slightfanon Nov 05, 2007 5:58am
613 Views
Post# 13750443

BMK; from Stockwatch services; already mentio

BMK; from Stockwatch services; already mentioNP says MacDonald share issue good for its buyers MacDonald Mines Exploration Ltd (2) (C:BMK) Shares Issued 89,814,315 Last Close 11/2/2007 $0.86 Monday November 05 2007 - In the News The National Post reports in its Saturday edition that MacDonald Mines Exploration on Oct. 26 announced a $10-million financing at 40 cent a unit. The Post's Peter Hodson writes that MacDonald stock at the time was 84 cents, so the units were priced at least 50-per-cent lower than the then prevailing market price, not including the value of the warrants attached to the unit offering. It is likely the financing was being arranged just as the stock was beginning to run because of the company's exploratory program in close proximity to Noront Resources' recent base metals discovery in Ontario. On the TSX Venture Exchange, companies and dealers can ask for and receive what is known as "price protection," when proposing a financing on a company whose share price can rapidly change. This price protection can be in place for up to 45 days. MacDonald shareholders might be disappointed they cannot all buy units at 40 cents, they should be happy, however, with the group of new shareholders involved, Franco-Nevada chairman Pierre Lassonde and US Gold chief Rob McEwen. This is an experienced group of investors. Junior miners like MacDonald often need to raise money when they can and when it is being offered. © 2007 Canjex Publishing Ltd.
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