Eloro Resources starts drilling 10,000 m at Simkar
2011-02-09 08:12 ET - News Release
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers. Here is a sample of this item:
Mr. Thomas Larsen reports
ELORO RESOURCES LAUNCHES TWO-PHASE 10,000 M DIAMOND DRILLING PROGRAM AT SIMKAR GOLD PROPERTY, VAL-D'OR, QUEBEC
Eloro Resources Ltd. has commenced a two-phase, 10,000 m, surface diamond-drilling program at the Simkar Gold Property (the "Property"), a former producing mine located 20 km east of Val-d'Or, Quebec. The Property consists of two contiguous mining concessions (2.26 km(2)) within the prolific Abitibi Greenstone Belt and hosts a thick sequence of east-west trending, near vertical dipping volcanic flows and pyroclastics of the Malartic Group. The higher gold grade, intrusion-centered gold-quartz-tourmaline vein system is geologically similar to the 9 million ounce Sigma-Lamaque Gold Deposit in Val-d'Or and many other gold deposits in the Abitibi Belt.
Eloro Resources Ltd
Symbol§C : ELO Shares Issued 167,971,903 Close 2011-02-11 C$ 0.10 Recent Sedar Documents Megastar to pay dividend on Eloro shares
2011-02-14 15:02 ET - News Release
See News Release (C-MDV) Megastar Development Corp
Mr. Dusan Berka of Megastar reports
MEGASTAR FURTHER UPDATES SHAREHOLDERS REGARDING PLAN OF ARRANGEMENT AND DIVIDEND DISTRIBUTION
Megastar Development Corp. has provided an update to shareholders regarding the status of its recently announced plan of arrangement and dividend distribution of 70 million common shares of Eloro Resources Ltd.
The plan of arrangement was approved by special resolution of the shareholders on Dec. 20, 2010, and received requisite approval of the Supreme Court of British Columbia under Section 288 of the British Columbia Corporations Act on Dec. 21, 2010. The plan of arrangement has been initiated and, upon completion, will result in the distribution of 70 million shares of Eloro Resources to Megastar shareholders of record at close of markets on Jan. 7, 2011. Based on a total of 42,127,233 outstanding and issued common shares in the capital stock of Megastar on Jan. 7, 2011, the ratio of distribution will be approximately 1.6616329869 Eloro shares for each Megastar share. The ex dividend date, the date as of which a purchaser of Megastar common shares is no longer entitled to receive Eloro shares pursuant to the arrangement, is Jan. 5, 2011.
The 70 million shares of Eloro Resources to be distributed by Megastar were transferred into escrow on Nov. 18, 2010. On Feb. 3, 2011, the TSX Venture Exchange announced its final acceptance of the sale and acquisition of the Simkar property (see notice on Stockwatch). The release from escrow of the acquisition closing documents and the Eloro shares, and distribution of the Eloro shares remain subject to Eloro's receipt of confirmation from the Minister of Natural Resources and Wildlife (Quebec) that the transfer of title to the Simkar property from Megastar to Eloro has been registered. Although it is not known when confirmation of the registration will be issued, Eloro expects it will be completed shortly. Megastar will notify shareholders when a distribution date for the dividend is determined.
ELORO RESOURCES ANNOUNCES COMPLETION OF ACQUISITION OF SIMKAR GOLD PROPERTY NEAR VAL-D'OR, QUEBEC
Eloro Resources Ltd. (TSX VENTURE: ELO)(FRANKFURT: P2Q) ("Eloro") is pleased to announce that it has completed the acquisition (the "Acquisition") of the Simkar Gold Property near Val-d'Or, Quebec (the "Simkar Property") from Megastar Development Corp. ("Megastar") in exchange for 70,000,000 Eloro common shares (the "Eloro Common Shares") issued to Megastar. The acquisition of Megastar's Simkar Property in exchange for the Eloro Common Shares has been effected on a tax-deferred basis pursuant to section 85(1) of the Income Tax Act (Canada), subject to the usual filings with the Canada Revenue Agency.
Prior to the closing of the Acquisition, Eloro had an option to acquire an undivided 50% interest in the Simkar Property from Megastar. However, effective February 28, 2011, title to the Simkar Property was transferred from Megastar to Eloro and Eloro now owns a 100% interest in the Simkar Property. The Eloro Common Shares have been released from escrow and Megastar has distributed them to its shareholders pursuant to a Plan of Arrangement. The Eloro Common Shares that were delivered to Megastar shareholders carried a hold period legend which expired on March 19, 2011.
ELORO RESOURCES RETAINS EUROPEAN INVESTOR RELATIONS FIRM
Eloro Resources Ltd. has retained Profinnotiv AG to provide Eloro with investor and public relations services in the European market. Eloro has a significant shareholder base in Europe and a listing of the Frankfurt Stock Exchange, and it is anticipated that Profinnotiv will leverage its extensive relationships within the professional investment community to expand the company's profile and communicate with Eloro's current and future shareholders.
Profinnotiv and the company entered into a 12-month contracting agreement that provides for Profinnotiv to be the company's point of contact in Europe. Profinnotiv and its affiliates are at arm's length to the company. The company will pay Profinnotiv a fee of $75,000 (Canadian) for the 12-month period.
bei 1452 $ und Eloro schwächelt immer noch. Wahrscheinlich herrscht immer noch Verkaufsdruck durch die Übergabe der Aktien an die Megastaraktionäre (so wie ich). die sind natürlich gepestet weil Megastar einen dramatischen Kursverfall mitmacht. Dadurch können sie ihre Verluste ausgleichen. Aber, das Gold aus dem Simkar Projekt ist immer noch da und es wird immer kostbarer. Mal abwarten bis die Lage sich beruhigt und vielleicht gute News kommen, dann wird man sehen, das Eloro auf einem Schatz sitzt.
wenn ich mir den Chart der letzten 3 Monate ansehe, dann sieht man da im Volumen ganz gut, das ab Mitte März mehr gehandelt wurde. Genau zu dem Zeitpunkt als Megastar die Eloro Aktien ausgeschüttet hat. Aber ein Silberstreif am Horizont ist zu sehen. Der MACD Indikator dreht nach oben. So ausgebombt wie die Aktie im Moment ist, kann das auch sehr schnell wieder drehen, schließlich gibt es jetzt sehr schöne Kaufkurse und alle warten nur auf das Signal nach oben.
Thread abonnieren
