Atacama Minerals completes $60-million financing
Atacama Minerals completes $60-million financing
2011-12-20 10:41 ET – News Release
Mr. Richard Clark reports
ATACAMA MINERALS CORP. ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED $60 MILLION BOUGHT DEAL PRIVATE PLACEMENT
Atacama Minerals Corp. has closed its previously arranged financing by way of a private placement of 50 million subscription receipts at a price of $1.20 per subscription receipt for total gross proceeds of $60-million. The subscription receipts were sold by a syndicate of underwriters led by Cormark Securities Inc. and including BMO Capital Markets, GMP Securities L.P., and Scotia Capital Inc.
Each subscription receipt automatically converts to one common share of the company without payment of additional consideration upon satisfaction of certain escrow release conditions, including the completion of the acquisition of Sirocco Gold Inc. Completion of the acquisition is subject to approval of the disinterested shareholders of the company, which will be sought at a shareholders meeting to be held on Jan. 19, 2012.
The gross proceeds of the offering will be held in escrow pending satisfaction of the escrow release conditions. In the event that the escrow release conditions are not completed on or prior to Feb. 20, 2012, the finances from the offering, together with the accrued interest thereon, will be reimbursed to the holders of the subscription receipts and the subscription receipts will be cancelled.
The company intends to use the net proceeds of the offering for the acquisition and advancement of mineral opportunities in South America and West Africa and general corporate purposes.
In connection with the offering and upon satisfaction of the escrow release conditions, the underwriters will receive a cash commission equal to 6 per cent of the gross proceeds of the offering, together with their pro rata accrued interest thereon.
All securities issued pursuant to the offering will be subject to a four-month hold period that expires on April 21, 2012.
Caliche, do you recall when teuton is suppose to release the drill results from the High property?
Tx,merry Christmas , Dale
Read this?printemailreport abuse
From Jim Willie–THE BIG SQUEEZE
nisbet0
12/22/2011 1:00:16 PM | | 79 reads | Post #30483229
Rate this
clarity
5
overall quality
4
credibility
5
usefulness
5
ONE GOLD EVENT, THE BIG SQUEEZE
No gold chart will be shown in this article, out of disrespect deserved for the COMEX criminal activity. A story was recounted in recent days from my best source of solid reliable gold information. The aware gold community has overlooked a phenomenon that might be more profound in action here and now. A major squeeze is on that capitalizes on the artificially low COMEX price and the higher honest physical price. The Barnhardt effect can be seen, or at least recounted. A gold trader informed that some multi-$billion purchase Gold orders have been in the process of filling at or near the $1600 price per ounce. The price must remain near $1600 to complete the orders and permit them to clear. Call it Agent2000 who seeks the massive amount of Gold, one of the Good Guyz. The name fits since their goal is to force the Gold price back over $2000/oz after the sale transaction clears. Since so large, the orders take time to fill completely. The low-ball buy orders have been filling for over two weeks. At the same time, the Agent2000 buyer has enlisted the aid of numerous assistants to push down the paper Gold price by putting extreme pressure on some bad players, some nasty types from the usual list of suspects in the Western banking sector. These bankers are being squeezed out of their gold, as they contend with deep insolvency, reserves requirements, falling sovereign bond values, depositors exiting, and more. They are players in what has been widely called the Gold Cartel. The Jackass term has been applied in a wider sense, as they have been part of the Syndicate that reaches into the Wall Street banks, the defense contractors, news media, and big pharma.
The other side of Agent2000 is where additional intrigue lies. He (they) have buyers lined up on the physical side some deals ready to close at $1900 per ounce. Later the price will push over the $2000 mark. The buyers are ready. One must infer that the buyers have a great deal of money ready to devote to the battle. Maybe some is piled up to escape the clutches of the cartel, removed from the system. Maybe some is piled up at a major new slush fund to do battle with the cartel at their own game. Maybe some is piled up and kept out of sight from greedy hands in government officials, like off-shore in the Caribbean or sequestered in the Persian Gulf. This story might be perplexing to many in the gold community since the Good Guyz are pushing down the Gold price in order to facilitate a gigantic order that will work toward crushing the cartel by draining their gold. Their gold cannot be drained without the completion of a great many orders. It is only natural to attempt to achieve the lowest possible price. If the gold cartel insists on pushing the price down, then they open the door for major volume sales at the artificially low and very much bargain price. It is happening, but the gold community does not enjoy the symptoms of the process.
So a huge huge huge buyer of gold is busy, and a multi-$billion order is working through. The buyer demands a $1600 price, while on the other side of the table Agent2000 has a sale lined up for the same metal at a $1900 price on physical. The trade will take gold bullion from the Bad Boyz hands and put it into the Good Guyz hands. In the process, the COMEX supply lines will be drained more. This is consistent with mining firms removing supply lines to the COMEX. The Agent2000 buyer is pushing price down, squeezing some evil parties hard, crushing testicalia along the way. He (they) describe to the distressed seller at $1600 that pressures will continue until the deal is closed. The seller is in tremendous pain with open distress showing. So many assume the Bad Powerz are pushing down the Gold price. Not so!! This event and transaction displays how some pain comes in many isolated cases of Good Guyz pushing the Gold price down to empty the Bad Powerz vaults. My source would not reveal the identity of Agent2000 or the location of the squeeze. It seemed like London. The money is not exclusively coming from China. Word has it that Russia is also applying the pressure, with some Chinese teamwork. The Competing Currency War has a new major flank. The divergence between physical and paper gold price is widening.
hi dale.. should be next week!