Raising $1.1 million in a public offering of 2.2 million units was Sindor Resources. The company also completed a private placement of $500,000, and traded over one million shares between 47 cents and 50 cents. Proceeds will be put toward construction and operation of a pilot plant at the Lisbon Valley copper project, and exploration at both Lisbon Valley and the Silverton gold property. In reaction to a recently announced lawsuit against Tyranex Gold, 57,000 Tyranex shares changed hands, trading 45-50 cents to close at 45 cents. Rockford Minerals is demanding, among other things, that a Tyranex private placement of 365,000 shares be rescinded.
Results from 11 holes on a property under option from Teddy Bear Valley Mines have revealed returns of up to 0.72 oz. gold per ton over 11 ft. Joint venture partners Noranda Exploration, Freewest Resources, and Newmont Mining are earning an interest in the property 40 miles east of Matheson, Ont., but Teddy Bear will retain a 30% interest. Teddy Bear shares were 75 cents bid and $1 ask for the week ended March 6.
Lithium Corp. of Canada, trading 12,500 shares, was up 10 cents to close at 40 cents. The company has acquired the right to earn a 50% interest from Noranda Exploration in the Oxford Lake gold project in northern Manitoba. Two diamond drills are operating on the property. Previous drilling cut gold grades of up to 0.25 oz. over 6.5 ft.
Be the first to comment on "COATS (over-the-counter) Sindor raises cash"