MAJESTIC GOLD CORP (MJGCF.PK)
MAJESTIC GOLD CORP (MJGCF.PK) engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
The most important industrial use of gold is in the manufacture of electronics. Did you know a standard touchtone telephone typically contains 33 gold-plated contacts? Contacts are electroplated with a very thin film of gold. It ensures rapid dispersion of heat while protecting it against detrimental tarnishing that typically occurs over the life of the device. Gold is the highly efficient conductor that can carry tiny currents and remain free of corrosion ensuring a high level of reliability. A small amount of gold is used in almost every sophisticated electronic device. This includes: cell phones, calculators, personal digital assistants, global positioning system units and other small electronic devices. Most large electronic appliances such as television sets also contain gold.
For more information about MAJESTIC GOLD CORP. visit its website: http://www.majesticgold.net
Triple-S Management Corporation (NYSE:GTS) announced that Ramon M. Ruiz-Comas, President and Chief Executive Officer, will present to investors and financial analysts at the Credit Suisse 2011 Healthcare Conference in Phoenix, AZ on November 10, 2011. The presentation will be broadcast live through the Internet at 2:00 p.m. Eastern Time.
Triple-S Management Corporation, through its subsidiaries, operates as a managed care company in Puerto Rico. It provides health benefits services to subscribers through contracts with hospitals, physicians, dentists, laboratories, and other organizations.
Global Hunter (GBLHF.PK)
Copper was known to ancient civilizations, and is said to have been mined for more than 5000 years. Copper is a reddish color and takes on a bright sheen. It is malleable and ductile. The greatest percentage of copper used is in electrical equipment such as wiring and motors. Brass and bronze are both copper alloys and are extensively used. All American coins are now copper alloys, and gun metals also contain copper. Copper is a good conductor of heat and electricity - hence its use in the electrical industry. It is resistant to air and water.
Global Hunter’s focus is on strategic and base metals, with an advanced stage copper oxide project in Chile and a highly prospective molybdenum property in British Columbia, Canada. GBLHF teams are working on developing the Corona de Cobre property in Chile and the Rabbit south property in British Columbia.
Global Hunter Corp. (GBLHF.PK) is pleased to announce initial assay results from its previously announced surface sampling program. The results are encouraging with new gold showings as well as very positive copper oxide assays over wide-spread areas.
Highlights of the entire program
9 mineralized shear and/or alteration zones sampled total of 13.5 kilometers of strike length along know copper bearing shear and alteration zones tested with 205 rock chip samples
Good grades of soluble copper (oxide) over a significantly large area have been identified, however they represent only about 50% of the total copper grade indicating a mixed oxide-sulphide zone. Numerous iron oxide structures have also been mapped but no iron assays have been received to date.
The Company is planning to re-assay samples for iron to determine if iron is present in significant quantities to represent another target.
For more information http://www.globalhunter.ca
Progressive Corp. (NYSE:PGR) will host a one-hour conference call on Tuesday, November 8, 2011, beginning at 9:00 a.m. eastern time. On November 7, 2011, Progressive expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission and post its Shareholders’ Report.
The Progressive Corporation, through its subsidiaries, provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services primarily in the United States.
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