Company Overview and News
Cobalt 27 Capital Corp. (TSX VENTURE: KBLT) (the "Company" or "Cobalt 27") announces that it has entered into a number of contracts and arrangements which in aggregate constitute a "change of business" under TSX Venture Exchange Policy 5.2. Specifically, the Company:
Red Mountain Mining (ASX:RMX) has been granted a trading halt by the ASX, pending and update on its lithium activites, and details of a capital raising.
Red Mountain did however note its recent announcement providing an update on its activities including the progress made regarding its Red Valley Lithium Project in the U.S state of Utah.
The company continues to progress the project, and recent activities include securing of an enlarged land tenure footprint, performing the required local archaeological survey and the submission of drill permit applications.
Bluebird Merchant Ventures Ltd (LON: BMV) shares advanced as it revealed it had bought the rest of the Batangas gold project in the Philippines.
Bluebird Merchant Ventures (EPIC: BMV), the Philippine focused natural resources development company is pleased to announce the acquisition of the Batangas Gold Project (the "Project") for a consideration of 1.25 million Bluebird shares. Having previously held a 25% stake, the acquisition will give Bluebird sole ownership of the Project which has an established JORC resource of 445,000 oz of gold.
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The capital raising was significantly oversubscribed, demonstrating healthy support from shareholders. The funds will be applied towards funding the drilling program for the company’s Red Valley Lithium Project and identification of new opportunities. Last month, the company entered into an exploration and earn-in agreement in respect of the Red Valley Project, a lithium brine project in Utah, U.S.
Peninsula Mines Ltd (ASX:PSM) has raised $1.68 million recently that will support the continued success at its multiple South Korean projects that are exhibiting prospectivity.
The Red Valley Project shares a striking geologic similarity to Clayton Valley in Nevada, having endured the same geologic processes to generate lithium brines. The Clayton Valley remains the sole source of lithium production in the U.S. Under the earn-In agreement, Red Mountain will fund initial drilling and chemical analysis of the Red Valley Project. The total cost of initial drilling, analysis and tenement applications is estimated to be between US$200,000 and US$325,000.
Red Mountain Mining Ltd (ASX:RMX) has been granted a trading halt by the ASX this morning, pending capital raising activities. The halt will remain in place until the opening of trade on Friday 23rd September 2016, or earlier if an announcement is made to the market.
Bluebird Merchant Ventures (EPIC: BMV), the Philippine focused commodity trading and natural resources development company notes the change of the entire Board of Australian based Red Mountain Mining ("RMM") as announced on 01 July 2016 and an update announced by the new Board today: http://www.redmm.com.au/wp-content/uploads/057_RMX-ASX-Announcement_Company-Update_5-July-2016.pdf
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Red Mountain Mining Ltd (ASX:RMX) has been granted a trading halt by the ASX today, pending the release of the results of today’s general meeting of shareholders. The halt will remain in place until the opening of trade on Tuesday 5th July 2016, or earlier if an announcement is made to the market.
Red Mountain Mining Ltd (ASX:RMX) has received strong demand in a top-up capital raising. Earlier in the month the company outlined that it would raise $275,000 (before costs) from the issue of 275 million shares at 0.1 cents per share. Demand meant the total raised swelled to $390,000 (before costs). For every two shares, Red Mountain will issue one new listed option exercisable at 0.15 cents, expiring 31 March 2018.
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