CORAL SPRINGS, FL, May 25, 2016 /CNW/ - Precious metals sectors are experiencing rough market conditions of late but are still expected to see a CAGR of over 4% throughout the next four years as demands have reached record highs coming off 2015. With a fast start underway in 2016, miners are hoping to experience growth opportunities with new acquisitions and project advancements even though the sector is currently going through ups and downs, trying to rebounds from recent developments.
Forging forward with a recent acquisition news: ALTAIR GOLD INC. (TSXV: AVX) - Mr. John Huguet, Chairman of the Board, is pleased to announce the signing of a Binding Letter of Intent, with an arm's length company, to acquire 100% of Epic Mining Corp. which in turn owns 99% of Panamericana SAC. Panamericana SAC owns a resource property in Peru covering approximately 900 hectares.
Read the full Altair Gold (AVX.V) at http://www.financialnewsmedia.com/profiles/avx.html
Through the acquisition, Altair will hold 100% of the rights, title and interest in the 900 Ha Lejin property. 700 Ha of the Leijin property is surrounded on three sides by Hudbay Minerals Inc.'s (TSE: HBM.TO) holdings adjacent to their Constancia Mine in the Province of Chumbivilcas in southern Peru. HudBay invested $1.7 billion in the construction of the Constancia Mine and achieved commercial production in April 2015. The Constancia Mine is an open pit operation with a 22 year life primarily extracting copper with additional molybdenum and silver credits. Limited sampling conducted on the Lejin property has detected traces of alteration suggesting the potential for copper mineralization. On closing of the acquisition the Company will consider an exploration program to test targets on the properties.
In other developments and market activity of interest in the Precious Metals sectors: Brazil Resources Inc. (TSXV: BRI) announced recently the results of a National Instrument 43-101 ("NI 43-101") mineral resource estimate for the Raintree West deposit, one of several porphyry centers identified on the Whistler Project, Alaska . The 100%-owned district-scale Whistler Project (170 sq km) is located 150 kilometres northwest of Anchorage, Alaska. Garnet Dawson , CEO, stated: "We are pleased to report this maiden NI 43-101 resource estimate for the Raintree West deposit, which builds on the multi-million ounce gold resource reported over the last year on the Whistler Project. This estimate increases BRI's indicated resource to 3.2 Moz gold (4.2 Moz gold equivalent) and our inferred resource to 7.0 Moz gold (9.1 Moz gold equivalent; Table 4). In conjunction with advancing our existing project portfolio, the Company continues to evaluate resource-stage projects in the Americas for potential acquisition."
Goldcorp Inc. (TSE: G.TO) and Kaminak Gold Corporation (TSXV: KAM) ("Kaminak") recently announced that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Goldcorp has agreed to acquire, by way of a plan of arrangement (the "Arrangement"), all of the outstanding shares of Kaminak. The total consideration offered for all of the outstanding shares of Kaminak is approximately C$520 million.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com. Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated three thousand five hundred dollars for news coverage of the current press release issued by Altair Gold, Inc. by a non-affiliated third party. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC
For further information: Company: FN Media Group, LLC, Contact email: firstname.lastname@example.org, U.S. Phone: +1-(954)345-0611, URL: http://www.financialnewsmedia.com