Tastarga stated that Cerro Negro was too hard to get going because MIM sold it off, why did they not keep it? Because it was not there CORE interest.
Look at Aquilines project in Argentina.....Similar to Cerro Negro and they bought it from the Worlds biggest Gold Mining company..........NEWMONT!!!!!
Now Aquiline is trading at $1.40 CDN
KCG Similar project trading at 9.8 cents
2 Months ago Aquiline had less than $100K in the bank.
Does this sound familiar?????
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Aquiline completes $6.9 million Private Placement February 6, 2004 TORONTO, Feb. 6 /CNW/ - Aquiline Resources Inc. announces that it has completed its previously announced brokered private placement of 5,750,000 units of the Company at a price of $1.20 per unit, for total proceeds of $6,900,000. In addition to the 5,000,000 units previously reported, the agents exercised the 15% over-allotment option to purchase an additional 750,000 units. Each unit consists of one common share and one half of one common share purchase warrant. One whole purchase warrant entitles the holder to purchase one common share at a price of $1.65 per share for an eighteen month period from the date of closing.
Pacific International Securities Inc., Dundee Securities Corporation and Toll Cross Securities Inc. acted as the agents for the private placement. The agents received a commission of $483,000, of which $375,335 was paid in cash, and $107,665 was paid, at the election of one agent, by way of 89,722 units at $1.20 per unit. The units issued to the agent have the same terms as the units issued to investors. Further, the agents received brokers' warrants to purchase an aggregate of 402,500 units at $1.25 per unit for an eighteen month period from the date of closing. Each unit issuable upon the exercise of the broker warrants will consist of one common share and one half of one common share purchase warrant, with each whole purchase warrant entitling the holder to purchase one common share at a price of $1.70 per share for an eighteen month period from the date of closing.
The securities issued in this private placement are subject to a four month hold period expiring June 7, 2003.
Proceeds of the private placement will be used to accelerate exploration and development of the Calcatreu gold property in Argentina which Aquiline acquired from Newmont Mining in July, 2003 and for general corporate purposes. A technical report on the Calcatreu gold property has been filed by Aquiline and is available on SEDAR at "www.sedar.com".
