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GEMINI EXPLORATIONS INC (OTCBB: GMXP)
Gemini Explorations Inc closed at $.28 Monday, trading 927,205 shares.
On June 4th, Gemini Explorations Inc ("Gemini"), announced that the principal exposed vein in the Los Chorros working tunnels measures up to 2 meters thick and dips down at 45 degrees. Visible sulphides and massive sulphides are exposed and run from 2% up to 70%. Visible gold is present and samples assayed along a 30 meter section of the principal vein exposed between 2 faults returned values between 15 grams/tonne Au and 250 grams/tonne Au. The Los Chorros Mine presents an excellent opportunity for Gemini to take advantage of the near record high gold bullion prices and provide an internal source of cash flow to fund its ongoing development and exploitation of its wholly owned La Planada Gold Project, a potential multi million ounce gold project in southern
About Gemini Explorations Inc, (OTCBB: GMXP)
Gemini Explorations, Inc. is a gold mining company with operations in
Gemini will be focused on the development and exploitation of the La Planada Gold Project in the southern region of
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SIERRA GOLD CORPORATION (OTC: SGCP)
Sierra Gold Corporation closed at $.1199 Monday, trading 629,319 shares.
On June 4th, Sierra Gold Corporation announced that it had commissioned geologist Alieu Madhi to do a report on the potential gold reserves of the Pampana North property. The report estimates the gold reserves to be just over 936,000 ounces. At US$659.10 /ounce (May 31 second
According to the announcement, Madhi's report is based on extensive bulk sampling work completed by the National Diamond Mining Corporation (NDMC), a
Mr. Madhi (BSc,MSc) holds degrees in Geology and Engineering Geology from
The company will continue its comprehensive bulk-sampling to corroborate Madhi's and Manke's reports. The estimated gold values do not include the gold hard rock potential for the property nor the potential for precious metals and diamonds, which the company is presently investigating.
About Sierra Gold Corporation (OTC: SGCP)
Sierra Gold Corporation is engaged in the exploration and development of gold and diamond properties in
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On June 4th, Hidalgo Mining International, an innovative coal mining company headquartered in
On May 30, 2007, CMM initiated negotiations by submitting an offer to purchase the total stock of the HMIT Company. After detailed review, the HMIT Board of Directors, have concluded that additional modifications to the offer must be made to provide a successful acquisition by CMM. Such changes include but are not limited to: royalty requests, post acquisition counsel, board positions, and management assessment.
According to the announcement, in the event that CMM should accept the counteroffer, both organizations will finalize a letter of intent, followed by all the necessary due diligence needed to successfully conclude the acquisition process. Both legal and financial counsel will closely monitor the negotiations as well as any documentation prepared between both parties.
Mark Klok, CEO of Consolidated Mining & Mineral stated, "Our initial proposal to Hidalgo Mining International was expected to be revised. Although our first proposal was not concluded immediately we are confident that the counteroffer submitted by HMIT will lead to a successful completion of the intended acquisition. As we remain in negotiations with HMIT we are exceedingly pleased with the integrity and character of its entire organization."
"We are pleased with the progress of the current negotiations with CMM and feel that a positive result can be brought to conclusion for both parties. We have closely reviewed the proposed offer submitted by CMM and feel that the implementation of necessary changes would provide a superior end result for the HMIT organization," stated Jeff Bootes, CEO of Hidalgo Mining International.
About
Hidalgo Mining International (OTC: HMIT), an innovative coal mining company located in New York, NY, currently possesses over 50,000 acres of coal populated land located in Northern Mexico near the Texas border. Within an existing multi-billion dollar industry, HMIT strives to maintain corporate creditability while making aggressive moves to continue marketing its coal production on a global scale. HMIT management and directors hold an abundance of experience and knowledge in this rapidly growing industry that will ultimately result in the success of its ventures and longevity. Learn more about HMIT by visiting: (www.hidalgointernational.com)
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SOUTH TEXAS OIL COMPANY (OTCBB: STXX)
South Texas Oil Company closed at $9.10 Friday, trading 8,114 shares.
Earlier today, South Texas Oil Company (OTCBB: STXX), an independent energy company, announced that it had declared on 4 June its preliminary results from a well drilled in south central Texas to a depth of approximately 7,000 feet.
According to the announcement, the well started flowing approximately 100 boph (barrels of oil per hour) the equivalent gross production of 2,400 bopd (barrels of oil per day). The well flowed an average of 21 boph, the equivalent gross production of 504 bopd and 188 mcfd (thousand cubic feet per day).
About South Texas Oil Company (OTCBB: STXX)
South Texas Oil Company has mineral interests in 43,244 acres of oil and gas properties made up of approximately 20,000 acres in north east
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