|Bid||0.0650 x 0|
|Ask||0.0700 x 0|
|Day's Range||0.0750 - 0.0800|
|52 Week Range||0.0300 - 0.1300|
|Beta (5Y Monthly)||2.59|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Each stock option is exercisable into one common share of the Company at an exercise price of $0.09 per share with an expiry of June 29, 2025. Colorado Resources Ltd. is exploring for high-grade gold and copper in the Golden Triangle and the Toodoggone area of British Columbia.
Work will be focused at our Castle property in the Moat, Castle East and Castle South target areas at the Company's eastern claim boundary bordering GT Gold Corp's properties. Since the merger between Colorado and Buckingham Copper Corp. in August 2019 (see NR of August 20, 2019), the new Colorado leadership team has continued to undertake a comprehensive strategic review of the Company and its assets, whilst its technical team has worked hard to recompile and review the large amount of data from the previous 8 years and over $37 million of acquisitions and exploration.
Mr. Thiessen, a member of the Chartered Professional Accountants of Canada , has over 23 years of international accounting and finance experience, with the last 16 years in the mining industry. Prior to this, Mr. Thiessen spent 7 years as VP of Finance for Endeavour Financial Ltd., an advisory firm in the mining industry that specialized in mergers and acquisitions and debt and equity financings, being part of a team that spawned industry-leading companies such as Wheaton Precious Metals Corp., UrAsia Energy Ltd., Peak Gold Ltd. and Coastal Energy Corp.
Each whole warrant (a "Colorado Warrant") entitles the holder to acquire an additional Colorado Share at an exercise price of $0.09 for three years from the date of issuance. The net proceeds from the Placements will be used to fund planned exploration activities as per Colorado's press release dated February 19, 2020, as well as for working capital purposes. Certain Directors of the Company subscribed directly or indirectly for 1,000,001 Units in the financing.
Directors of the Company will be subscribing for 1,666,667 Units in the financing, and are also expected to make additional open market purchases of shares in the coming weeks. The net proceeds of the Offering will be used to fund exploration activities as per Colorado's press release dated February 19, 2020, as well as for working capital purposes. The closing of the Offering is anticipated to occur on or before March 31, 2020 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.
Colorado Resources Ltd. is exploring high-grade gold and copper in the Golden Triangle and the Toodoggone area of British Columbia. The portfolio includes the flagship Castle property, a porphyry copper-gold project located in the Red Chris mining district of the Golden Triangle neighbouring GT Gold's Tatogga property.
The net proceeds of the Offering will be used to fund exploration activities as per Colorado's press release dated February 19, 2020, as well as for working capital purposes. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
The company has 128,000 hectares of mineral tenure in Northwest British Columbia (Figure 1) with significant exploration potential for the discovery of Cu-Au porphyry and high-grade Au-Ag deposits. Currently, the principal target is on the Castle property at the Moat zone along the eastern claim boundary with GT Gold Corp's (GTT) Tatogga property1. GTT is drilling a high-grade, epithermal Au-Ag system at Saddle South that is over 1,000 metres long by 300 metres wide, west-trending and west-plunging within 350 metres of a Colorado gold-in-soil anomaly at Moat.
The number of shares represented by shareholders at the Meeting was just greater than 29% of Colorado's issued and outstanding common shares. All of the matters presented to shareholders for consideration and approval in the Company's Management Information Circular were approved with near-unanimous support. The number of Directors of the Company to be elected at the Meeting was fixed at five.
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VANCOUVER, Oct. 10, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V:CXO.V - News) ("Colorado", or the "Company") is pleased to provide exploration updates for both its Castle and Sofia projects in northwestern British Columbia, including drilling at the Castle East target. Further to its news release dated September 18, 2019, the Company has completed its field program, including 1,555 m of drilling in four holes on the Castle East porphyry copper-gold target.
VANCOUVER, Sept. 18, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V:CXO.V - News) ("Colorado", or the "Company") is pleased to announce that, further to its news release of September 3, 2019, the Company has commenced a drill program on its Castle copper-gold property, located in the Red Chris mining district within the Golden Triangle of northwestern British Columbia. An initial drill program totaling approximately 1,500 m in four holes is planned for the Castle East porphyry target. Castle East has had no previous drilling but is defined by a 500 by 700 m induced polarization (IP) chargeability anomaly, with coincident anomalous gold, copper, molybdenum in soils.
VANCOUVER, Sept. 6, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V: CXO) ("Colorado" or the "Company") reports that the Board of Directors granted 8,350,000 incentive stock options to directors, officers and consultants of the Company, subject to TSX Venture Exchange acceptance. Each option will allow the holder to purchase one common share in the Company at a price of $0.12. Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in the "Golden Triangle and the Toodoggone area" of British Columbia.
VANCOUVER, Sept. 3, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V:CXO.V - News) ("Colorado", or the "Company") is pleased to announce that it has commenced exploration on its newly consolidated Castle copper-gold property, located in the Red Chris mining district within the Golden Triangle of northwestern BC. Castle directly adjoins the Tatogga property of GT Gold Corp., which includes the Saddle North and Saddle South Cu-Au-Ag deposits. The exploration program follows quickly upon the successful takeover of Buckingham Copper Corp. by plan of arrangement (See news release dated August 20, 2019) and completion of a financing of $3.7 million (see news release dated August 19, 2019). Exploration field surveys are currently in progress within high-priority portions of the 19,256 hectare property.
VANCOUVER, Aug. 20, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V:CXO.V - News) ("Colorado") and Buckingham Copper Corp. ("Buckingham"), announce that they have completed their previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia), pursuant to which Colorado acquired all of the issued and outstanding common shares of Buckingham (each, a "Buckingham Share"), and, in exchange, shareholders of Buckingham received 0.5 of a common share of Colorado for each Buckingham Share held (the "Transaction").
VANCOUVER, Aug. 19, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V:CXO.V - News) ("Colorado") announces that it has completed a financing of an aggregate of 15,267,855 flow-through subscription receipts issued at a price of $0.12 per subscription receipt and 22,069,928 non-flow-through subscription receipts at a price of $0.085 per subscription receipt for aggregate gross proceeds of approximately $3,708,086 (the "Financing"). The net proceeds of the Financing will be held in escrow and released in connection with the satisfaction of the escrow release conditions by Colorado upon the successful completion of the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia), pursuant to which Colorado will acquire all of the issued and outstanding common shares (each, a "Buckingham Share") of Buckingham Copper Corp. ("Buckingham"), and, in exchange, shareholders of Buckingham will receive 0.5 of a common share of Colorado for each Buckingham Share held (the "Transaction").
VANCOUVER, July 24, 2019 /CNW/ - Further to the news releases of May 8 and 27 and July 2, 2019 of Colorado Resources Ltd. (TSXV:CXO.V - News) ("Colorado" or the "Company") and Buckingham Copper Corp., Colorado wishes to announce an overallotment provision of up to $1,750,000 in the current subscription receipt financing. The provision is made to accommodate Newmont Goldcorp Corporation's existing rights to maintain or increase its ownership interest in the Company to a maximum 19.95% and other expressions of interest received to participate.