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http://www.capebretonpost.com/News/Local/...;height=400&width=700
The restructuring, seen by many as a transformational milestone for Erdene, is intended to unlock significant value for current shareholders and for those shareholders who purchase Erdene stock prior to the completion of the split. According to Erdene management, it is anticipated the company separation will be completed on or before October 31, subject to final shareholder approval.
The move comes several months after Xstrata Coal announced plans to sell its 75 per cent interest in the Donkin project. The Xstrata sale process is expected to be completed in 2012, resulting in a new Donkin ownership structure later this year, with coal production from the mine by 2014. Donkin is currently recognized as the largest undeveloped coking coal project in North America.
John Budreski, director of Erdene since January 2012 and former vice chairman of Cormark Securities Inc., will lead the new Morien Resources Corp. as its CEO,.... " ENDE Zitat
Quelle:http://www.obj.ca/Archives/Mining/2012-09-11/...wo-public-companies/1
Mr. John Budreski reports
Morien Resources Corp. has received notice from Glencore of the intended sale of Glencore's 75-per-cent interest in the Donkin coal project.
Donkin coal project: Morien holds a 25-per-cent minority interest, with a $9-million carried interest, in one of the largest undeveloped coal deposits in North America, located within 30 kilometres of a deep water port in Sydney, N.S. Approximately $43-million has been invested in the Donkin coal project since 2006, including $15-million by Morien.
http://www.stockwatch.com/News/...2201299&symbol=MOX®ion=C
2014-09-29 09:12 ET - News Release
Mr. John Budreski reports
MORIEN CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT
Morien Resources Corp. has closed its non-brokered private placement with the issuance of 7,236,008 common shares priced at 20 cents per common share for gross proceeds of $1,447,201.60. The $1.35-million private placement previously announced on Sept. 8, 2014, was oversubscribed and was increased due to investor demand. Morien's management and directors subscribed to 27 per cent or $395,733 of the private placement. Net proceeds of the private placement will be used for general corporate purposes............................" ENDE Zitat
Quelle/Vollständige Meldung:
http://www.stockwatch.com/News/...2214961&symbol=MOX®ion=C
Source:
http://www.marketwired.com/press-release/...x-venture-mox-2006792.htm
HALIFAX, NOVA SCOTIA--(Marketwired - March 2, 2015) - Morien Resources Corp. ("Morien" or the "Company") (TSX VENTURE:MOX) is pleased to announce the closing of the transaction with Kameron Collieries ULC ("Kameron"), an affiliate of The Cline Group LLC, for the exchange of Morien's 25% working interest in the Donkin Coal Project ("Donkin" or "Project") in Cape Breton, Nova Scotia, for cash and a production royalty ("Transaction").
Approval of the Transaction was given at a special meeting of the Company's shareholders held on February 10, 2015, where shareholders voted 99.99% in favour of the Transaction. The consideration being paid for the interest is $5.5 million in cash and a gross production royalty of 2% to 4%. On closing, Morien received an initial cash payment from Kameron of $2 million. The remaining cash consideration of $3.5 million is to be paid in stages, with $2 million on the earlier of either first production from the Project and the 2nd anniversary of closing, and a further $1.5 million on the earlier of either first export sales from the Project and the 3rd anniversary of closing. In addition, Morien closed a private placement in December, 2014, with Atlantic Royalty LLC, a subsidiary of The Cline Group LLC, for 3.45 million common shares in Morien at $0.30 per share, a 58% premium to market, for gross proceeds of $1,035,000.
Kameron also agreed to pay Morien a gross production royalty of 2% on the first 500,000 tonnes of coal sales per calendar quarter and 4% on any coal sales from quarterly tonnage above 500,000 tonnes. Based on the current permitted production rate for the Project of 2.75 million sales tonnes per year, and on current and forecasted coal prices, Morien management and its Board of Directors ("Board") estimate that royalty payments could range from $4.6 million to $6.7 million annually....." Ende Zitat
Source:http://www.marketwired.com/press-release/...x-venture-mox-1996532.htm
– coal production at Donkin (where Morien has a 2%-4% production royalty), which will trigger a $2-million milestone payment;
– announcement of test burn by Nova Scotia Power;
– first export sales of Donkin coal, triggering a further $1.5-million payment;
– successful environmental permitting of the Black Point aggregate project, triggering an $800,000 payment from Vulcan Associates.
That’s $4.3 million in milestone payments that should land in the first half of the year. " ENDE Zitat
Source:http://ceo.ca/2015/11/18/...-budreski-navigates-stormy-resource-seas/