MINING MARKETS & INVESTMENT NEWS — Cusil Venture completes IPO, Spectrum seeks suspension

Nevada Pacific Gold (NPG-V) has been called for trading on the Vancouver Stock Exchange on the condition that it publicly offer 3 million shares at 75 cents each.

Proceeds from the offering will be used to finance work at the Limousine Butte and Woodruff Creek properties in Nevada.

Limousine Butte is prospective for skarn-hosted gold deposits related to a mineralized porphyry complex. Previous exploration there returned up to 0.07 oz. gold per ton.

At the Woodruff Creek property, in Nevada’s Carlin trend, the company is searching for high-grade gold occurrences comparable to the nearby Rain and Meikle mines.

• Sun River Mining is lighting up Nasdaq’s over-the-counter board under the symbol SUNR.

  The Boulder, Colo.-based company is interested in exploring and developing placer gold properties in Bolivia. An assessment of prospects on the Kaka, Tipuani and Challana Rivers by Watt Griffis & McOuat concluded there is sufficient gold-bearing gravel to support commercial mining, but not before additional drilling is conducted.

• Cusil Venture, recently listed on the VSE, owns the Merico Ethel property in Ontario’s Larder Lake district. In its recent public offering, the company raised $275,000 by issuing 550,000 shares at 50 cents each. Cusil trades under the symbol CUS.
• At its own request, Spectrum Resources has been suspended from trading on the VSE for failing to produce audited annual accounts and an annual report.

  The company, which trades under the symbol SPC, also reports that Falconbridge (FL-T) has backed out of a proposed option deal for the Ban Phuc nickel project in Vietnam. Spectrum is seeking another partner for that venture.

  Print