Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VICTORIA, BRITISH COLUMBIA–(Marketwire – Jan. 26, 2012) – Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to announce that it has negotiated, subject to regulatory acceptance, a non-brokered private placement of 10,000,000 units at a price of $0.05 per unit with one investor.
Each unit consists of one common share and one-half of one warrant. Each full warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.10 for a period of one year from the closing of the offering. The proceeds from the private placement will be used for general working capital.
Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing its three key properties: the 11,100-hectare Pickle Lake Property in northwestern Ontario, its 6,898-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.’s Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario.
ON BEHALF OF THE BOARD
Michael Romanik, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
