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Case Financial, Inc. (OTCBB: CSEF ) announced Friday that it has received an extension to the exploration agreement entered with Trio Gold Corp. on June 2, 2008, to explore 29 gold claims covering 547 acres (the Rodeo Creek property) located at the north end of the Carlin Trend in Elko County, Nevada.
Under the terms of the extension, Case Financial, Inc. will be required to raise One million dollars for the project by March 31, 2009, One million dollars by August 31, 2009, One million dollars by December 31, 2009 and the final One million dollars by December 31, 2010; drilling will be conducted in all phases as both reverse circulation and core drill rigs are available. Case Financial, Inc. has agreed to issue 250,000 shares of its common stock to Trio Gold Corp. as consideration for this extension.
According to Case Financial, Inc.'s CEO, Michael Schaffer, "The Carlin Trend is the most prolific gold area in North America and hosts as many as 30 gold producing mines and development projects, on which over 100 million ounces of gold production and inventory have been identified, including world class deposits such as Newmont Mining's Carlin mine and Barrick Gold's Meikle mine."
The Rodeo Creek property is located one mile northwest of Barrick Gold's Storm deposit and three miles northwest of Centerra Gold's Ren property, and exhibits geological and alteration features common to all deposits on the Carlin Trend; five geochemically anomalous target areas have already been identified for exploration.
More information about Case Financial, Inc. can be found on the company's website at http://www.casefinancial.com.
Yamana Gold Inc. (Toronto: YRI) (NYSE:AUY) (LSE: YAU) today announced its October 2008 monthly dividend of US$0.01 per share. Shareholders of record at the close of business on Friday, October 31, 2008 will be entitled to receive payment of this dividend on Friday, November 14, 2008. The dividend is an "eligible dividend" for Canadian tax purposes.
Royal Gold, Inc. (NASDAQ: RGLD) (TSX: RGL), the leading precious metals royalty company, today announced the closing of its acquisition of the royalty portfolio from Barrick Gold Corporation ("Barrick"), effective October 1, 2008. Consideration to Barrick for the transaction was approximately $150 million net cash and a restructuring of Royal Gold's royalty positions at Barrick's Cortez Pipeline Mining Complex ("Cortez") in Nevada, valued at $31.5 million. The cash portion of the purchase price for the transaction was paid from Royal Gold's cash on hand. The Company initially announced the execution of a definitive agreement to acquire Barrick Gold's royalty portfolio on July 31, 2008.
The royalty portfolio consists of royalties on 72 properties, including 8 producing royalties, 2 development stage properties, 19 evaluation stage properties, and 43 exploration projects. Approximately 75% of the portfolio consists of precious metals royalties. See Tables 1 through 4 for a list of all the royalty properties acquired in the transaction along with calendar 2008 first half production and revenue figures for the majority of the producing properties.
OTC Stock Review is not a Registered Investment Advisor or Broker/Dealer. The information in this newsletter is for informative purposes, not intended as investment advice, not an offer to buy or sell securities of the companies profiled, and is subject to change without notice. OTC Stock Review has been compensated one hundred and seventy five thousand shares of Case Financial to perform investor relations services for Case Financial, Inc. Officers, directors, and employees of OTC Stock Review, may hold a long or short equity position of a profiled company and trade in these securities for their own accounts. Information is from public releases and can not be guaranteed by OTC Stock Review. Companies profiled may carry a high investment risk; readers should review profiled companies thoroughly with their investment advisor, stockbroker, or other such professional. OTC Stock Review is not liable for any investment decisions by its readers or their advisors. Any analysis contained herein does not purport to be a complete analysis and readers are encouraged to obtain copies of the profiled Company's periodic reports filed with United States Securities and Exchange Commission which are generally available at http://www.sec.gov or http://www.sedar.com for Canadian companies.
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