Day: August 8, 2014

Newstrike Capital president and CEO Richard Whittall is certain the upcoming preliminary economic assessment (PEA) on the company’s 2.25-million oz. Ana Paula gold project will prove it’s a “great cash-generating project.â€?

Chesapeake Gold Corp. is pleased to announce that it has entered into an agreement whereby Chesapeake has assigned its interest in the 1.5% net smelter returns royalty on its Mexican Metates gold-silver property to Wheaton Precious Metals (Cayman) Co., a subsidiary of Silver Wheaton Corp., in consideration for US$9.0 million. The Royalty had previously been acquired by Chesapeake for US$9.0 million from SANLUIS Corporation, a private Mexican company.

Caza Gold Corp. is pleased to announce that it has entered into a loan agreement with Polygon Mining Opportunity Master Fund providing for the terms and conditions pursuant to which Polygon will loan the principal amount of US$600,000 to the Company as evidenced by a promissory note. The Loan is for a term of 18 months and is payable on demand after one year. The Loan bears interest at the rate of 12% per annum payable quarterly beginning on September 30, 2014. Polygon will also receive common shares of the Company (the “Bonus Shares”) as partial compensation for entering into the Loan Agreement. The number of Bonus Shares will be equal to 18% of the principal amount of the Loan divided by the market price of the common shares on the date of the notice of the Company’s next shareholders’ meeting, subject to a minimum price of $0.08 per Bonus Share to the extent required by the TSX Venture Exchange, issuable following approval at such shareholders’ meeting. As security for the payment of the Company’s obligations and for the fulfilment and satisfaction of all covenants and agreements made under the Loan Agreement, the Company has, concurrently with the Loan Agreement, entered into a general security agreement with Polygon pursuant to which the Company granted Polygon a security interest in all personal property of the Company, including the property option agreement dated January 31, 2011 between the Company, Inversiones Ecologicas S.A. and the shareholders of Inecosa, under which the Company holds rights to acquire certain mining properties located in Nicaragua, including the Los Andes project.