https://www.aktiencheck.de/kolumnen/Artikel-Reservoir_Minerals_Aussichtsreiche_Bohrergebnisse_Kapitalerh_hung_treiben_Kurs-5544916
Currently knows the share of Reservoir Minerals (TSX-V: RMC; ISIN: CA7611311019)only one direction northward! This has its reasons: The company developed jointly with Freeport McMoRan-Cukaru Peki his property, part of the Timok complex in eastern Serbia. After the on 4 December 2013 announced good drill results further promising results have now been published.
Highlights
- Borehole FMTC1338: 205.6 m with 4.81% copper and 2.88 g / t gold.
- This includes a section of 114.5 meters with 7.77% copper and 4.14 g / t gold.
and
- Borehole FMTC1328: 902 m at 0.65% copper and 0.14 g / t gold
- Including a section of 231m at 1.07% copper and 0.18 g / t gold.
Other good sections confirm the holes from the previous year and show the powerful extension of the mineralization could be detected up to a depth of 2,000 meters now.
Overview of the current drilling program
Source: Homepage Reservoir Minerals
However, all drill results are not yet recorded in the table. FMTC 1329 and 1336 were terminated prematurely, for example, due to technical problems far, Reservoir Minerals has already presented the results of 35 drill holes, with another hole still in progress. detailed results for the individual holes are published on the home page and read .
Planned capital measures
Recently reservoir was known that by means of a non-brokered private placement of $ 23 million will be added and this will be supplemented by a brokered placement of over $ 10 million.
For the non-brokered placement to 4 million shares will be issued at a price of $ 5.75.For this case, of course, no commission would be paid, however, depends on certain points. Among other things, the execution of certain documentation and obtaining the approval of the regulatory authority.
For the mediated placement, the Company has an agreement with a syndicate consisting of Macquarie Capital Markets, GMP Securities, BMO Capital Markets and Salman Partners Inc., received to the effect that the signatory should acquire 1,740.000 shares at a price of $ 5.75. For this placement 6% of the downloaded capital were agreed as a fee.
However, as in the non-brokered placement conditions are also linked, such as the due diligence of the signatories, and the approval of the regulatory authorities.
Generally, however, all issued shares with a 4-month hold period are equipped. The funds raised will be used for the development of Timok project, but also for general costs.
About reservoir projects and the joint venture with Freeport McMoran , we have already mid-May 2013 reported in detail . In addition, the team of mining Scout visited the property vin Serbia mid-September, 2013, so as to gain from the situation on the ground a more accurate picture .
Source: BigCharts.com
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