Remember the February NR that Merrex is looking to divest Non-Core Assets and Focus on the Diakha/Siribaya JV. What if their definition of non-core assets includes Karita and Jubilee. With Zinc rising Jubilee could bring 3d party buyers as well as Karita since it's along a high probability faultline. If it's too much for them to handle Karita along with Diakha/Siribaya, they could sell their 100% owned Karita to a 3d party like B2Gold or Rangold. Then with a boat load of Cash, have lots of money to expand Diakha in all directions. What made me speculate on this is the recent NR on the Hayward Financial Advisory firm. Could Hayward be involved now if a sale to a 3d party is being worked on for Karita or Jubilee and then Merrex eventually sells the Diakha/Siribaya JV to IamGold?
HALIFAX, NOVA SCOTIA -- (February 22, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces:
Planned Divesture of Non-core Assets Management is reviewing alternatives to divest the Company of all its non-Mali assets.
"With the recent announcement of a NI43-101 gold resources totalling
129,000 ounces @ 1.90 g/t Indicated and
1,092,000 ounces @ 1.71 g/t Inferred (news release February 6, 2016) at our JV Siribaya gold project in Mali it is evident that future of the Company is there and that the Company must focus all of its available resources to advancing that project. That is where shareholder value will be built" said Merrex president Greg Isenor. "Devoting substantially all of the Company's available resources to our Mali gold project for the foreseeable future means that the Company's exploration assets in other jurisdictions will not be advanced and any dormant exploration asset will not deliver any increase in value to shareholders. Therefore, the pragmatic course is to divest those assets."
No specific plan for the asset divesture has been determined nor has any timetable been set. The divesture of assets may be in one or more transactions and may be by way of a sale for cash or shares, an asset swap if a synergistic asset were offered, or a shareholder distribution. Management will take the time necessary to examine and consider all opportunities but also intends to proceed in a timely manner. Updates will be provided as circumstances warrant.
Jun 21, 2016
Merrex Gold Financial Advisory Engagement
HALIFAX, NOVA SCOTIA -- (June 21, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces:
Financial Advisory
The Company has completed a financial advisory services engagement with Haywood Securities Ltd. and in consideration thereof has paid to Haywood Securities Ltd. $38,000 and, subject to the approval of the TSX Venture Exchange, will issue 190,000 share purchase warrants exercisable at $0.30 per warrant share for a term of 36 months from the date of granting. All securities issued will be subject to a four (4) month hold period.