The property, situated in Mexico, was purchased for $2.1 million. Under this acquisition agreement the previous royalty of $5 a tonne has been eliminated.
Teck Resources Limited (TSX: TCK.A, TCK.B, NYSE: TCK) ("Teck") has been informed that the Toronto Stock Exchange (TSX) has accepted Teck's notice of intention to make a normal course issuer bid to purchase its Class B subordinate voting shares.
While the price and number of units to be offered has not yet been determined, the proceeds will be used to pay for administrative fees and increase working capital.
The proceeds from the Private Placement will be used to further work on the tailings recovery project, continue exploration on the El Tigre Property and for general working capital purposes.
Highlights of its No. 23 vein zone include a sample of: 5.81 g/t gold over 2.70 metres from 182.40 to 185.10 metres including 13.35 g/t gold over 1.00 metre.
The company is intending to sell 5 million units at $2.25 a share, proceeds of the placement intended to advance its flagship property in Canada's Yukon Territory.
Cardero works with RCMP and begins private investigation after allegations that it used improper business practices to secure iron ore concessions in Ghana.
The Canadian-based company intends to repurchase up to 5,000,000, representing 7.4% of the company, million common shares from June 27, 2012 to June 26, 2013.
On Friday a lightning strike triggered a wildfire two kilometers from Keno City and the Bellekeno mill facility. The wildfire was contained by Yukon Wildland Fire Management with the assistance of Alexco personnel and operations at the mine and mill commenced Saturday.