Wednesday, August 29, 2012

August 29, 2012 Edition of the Stateside Report

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1 comment:

duncanmcl said...

Hi Vince...liked your comment on Ron Paul...my guy tooooo, you also mentioned Gayway and their $10m dept line of credit...I have been following ...noticed a 2nd NR...their expanding their zone by title to 9 additional leases per below...your thoughts....also today Balmoral also had a NR...they seem to have a future...your thoughts

Toronto, Ontario: August 29, 2012 - Galway Resources Ltd. ("Galway") (GWY: TSX-V) is pleased to announce that it has successfully negotiated to obtain title to nine mining concessions located in the municipality of California in Santander, Colombia, where the vast majority of drilling has taken place to date. Galway has received confirmation from the Colombian Mining Ministry that mining titles for 100% of six concessions were successfully transferred and registered to Galway Resources, including the "fractions" that appear to be directly within AUX's La Mascota mineralized structure. The three remaining mining titles are anticipated to be transferred in the next several weeks.

Pursuant to the terms of the various agreements, Galway has made payments of approximately US$6.6 million in cash, which includes an advance payment on estimated gold resources, and $7.8 million in share payments will be made upon approval by the TSX Venture Exchange. Pro rata payments will be made on additional NI 43-101 compliant measured and indicated gold resources established until June 15, 2013, payable in both cash and shares. The initial gold resource estimate on Galway's California concessions is anticipated to be released in early September.

After assessing drill results of our geological targets, Galway did not renew the option on the Tronadora concession

August 29, 2012 at 9:13 PM

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