Newstrike AGM Report
Friday I attended the Newstrike Capital A.G.M. downtown in a building across from the Olympic Cauldron. We were up pretty high and were able to see the Olympic military helicopters almost at eye level!
In attendance were Richard O’C. Whittall – Director, President and CEO
Mr. Whittall is an investment banker based in Vancouver, British Columbia. His background includes serving as a past director of Miranda Mining Corp. from 1995 until its sale to Wheaton River Minerals (Goldcorp) in 2003. Mr. Whittall has participated in a diverse range of corporate activities, including mergers and acquisitions and completion of several major corporate financings in Canada. He currently serves as a director of several public and private companies, and holds degrees from the University of British Columbia and University of Cambridge.
Salvador Miranda – Chief Financial Officer
Mr. Miranda is President of InterAmerica Consulting & Development Inc., a private business consulting company he founded in 1995 to develop business ventures between Canada and Mexico. Mr. Miranda’s functions include all financial, administrative and accounting aspects, including preparation and supervision of filings. He has also served as director, officer or consultant for several companies listed on the TSX Venture Exchange since 1997, and brings extensive public market experience to the Company. A civil engineer by training, Mr. Miranda holds a master’s degree in Project Management from M.I.T.
Legal council (apologies as i dont remember her name)
The scrutineer was held up on conference call and was a bit late. We began an informal discussion of the Guererro property. The Company bid on the remaining 21% of the Morelos property held by Goldcorp and was unsuccessful due to GRL exercising their right of first refusal. The history of the property and the directors goes back quite a ways and the people behind Newstrike are credited with a very high percentage of the ounces discovered in the region. The Morelos percentage was familiar to the company having once owned it through another company that was then taken over. The directors had come full circle with the opportunity to re acquire the 21% from Goldcorp.
The Aurea Norte property aside Gleichen’s Morelos project is of particular interest having the same contact with a limestone unit that all the other deposits in the area have. The Norte property is slated for a work program this spring and is being funded through the latest financing that closed recently.
The Lundin Family is the largest shareholder with over 10 million shares held, not including any acquired in the latest financings.
Richard led the meeting to a speedy conclusion of the official business and we continued our discussion regarding the companies access to the 50 million dollars that was slated to fund the Morelos aquisition. The financing is still available depending on a suitable project turning up.
Overall i was very impressed with the company, its properties, and its people.
I added over 30000 shares to the accounts today, making it our second largest holding by number of shares.
