drbubb Posted March 14, 2008 Report Share Posted March 14, 2008 Daily chart ... update Weekly Chart THE weekly chart looks like a GIP near $0.50 ! About Merrex Merrex owns a large land position in the prolific West Mali gold producing area. Together with strategic partner Touba Mining, Merrex has acquired five mineral permits covering over 700 square kilometres and has a permit applications in progress for an additional approximately 200 square kilometres, all within the West Mali Gold Belt, a region which currently produces in excess of one million ounces of gold per year from such well-known large gold deposits as the Sadiola and Loulo mines. The Merrex permits cover highly prospective land with significant geological structures, associated geochemically anomalous gold zones, extensive orpailleur alluvial gold workings and artisinal underground workings. Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth. JUST RELEASED some good drill results from Mali “These partial results were rush-assayed because our field crew recognized that we had hit the right rock type at depth” commented Merrex President and CEO Greg Isenor, P. Geo. “Partial assay results from two holes at Siribaya Zone 1B include hole SR-DD-08-55 with 4.83 g/t over 21.5 metres including 6.00 g/t over 16.5 metres and 500 metres to the south hole SR-DD-08-53, our best hole to date, intersected 14 gold mineralized intervals the best of which were 4.65 g/t over 17.0 metres including 5.85 g/t over 10.0 metres and 4.07 g/t over 13.0 metres including 5.17 g/t over 9.0 metres. Assays from the top and the bottom of both holes are still pending.” /more: THIS IS good enough to help the stock price, I reckon. Let's see... = = = = = LINK: Corporate website. : http://www.merrexgold.com/ Stockhse Bullboard : http://www.stockhouse.com/bullboards/forum...&table=LIST Link to comment Share on other sites More sharing options...
drbubb Posted March 14, 2008 Author Report Share Posted March 14, 2008 OLD NEWS 1/ JUNE 7, 2007 MERREX GOLD INC. COMPLETES $7.4 MILLION BROKERED PRIVATE PLACEMENT (Halifax, Nova Scotia, Canada) – Merrex Gold Inc. (the "Corporation") is pleased to announce the completion of a brokered private placement led by Pacific International Securities Inc. ("Pacific") and including Paradigm Capital Inc. and Wellington West Capital Markets Inc. (collectively the "Agents") for 7,792,000 units (the "Units") at a price of $0.95 per Unit, for total gross proceeds of $7,402,400 (the "Offering"). Each Unit consists of one common share (the "Common Shares") and one-half of a common share purchase warrant (the "Purchase Warrants"). Each full Purchase Warrant entitles its holder to purchase one additional Common Share for a period of 18 months from closing date at an exercise price of $1.25 for the first 12 months from closing date, and thereafter, at an exercise price of $1.75. The Units will be subject to a four-month hold period from the closing date. As consideration for acting as agents, the Corporation has paid the Agents a cash commission of $320,568 and a fee in the form of 208,000 Units. In addition, the Agents received 623,360 compensation options (the "Compensation Options"). Each Compensation Option is exercisable at $1.00 into one common share of the Corporation for a period of 18 months from the Offering's closing date. The Offering is subject to final TSX Venture Exchange acceptance for filing. All securities issued will be subject to a four-month hold period from the Offering's closing date expiring on October 8, 2007. The net proceeds of this private placement will be used primarily to fund ongoing exploration and development activities at the Corporation's Mali Projects including diamond drilling at Merrex’s Siribaya Gold Project in Mali, for the investigation and potential acquisition of new initiatives and new projects and for general corporate purposes. 2/ Merrex Gold Exploration at the Birch-Uchi Gold Project, Red Lake, Ontario Pursues 22 g/t, 24 g/t and 30 g/t Au Grab Samples 10:09 EST Wednesday, Aug 15, 2007 HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 15, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces that Merrex is continuing its gold exploration program at its Birch-Uchi Gold Project in the Red Lake district of Ontario. "Merrex's Birch-Uchi Gold Project is still at an early stage of exploration compared to our more advanced Siribaya Gold discovery in Mali. However, the quartz vein grab samples of up to 22 g/t, 24 g/t and 30 g/t Au suggest that Birch-Uchi has real potential" commented Merrex President and CEO Greg Isenor, P. Geo. "Therefore, Merrex has initiated an exploration program of line cutting, prospecting, geological mapping, stripping old trenches, locating old showings and sampling over several areas of interest. This may be followed by detailed exploration and diamond drilling if warranted." The Birch-Uchi Gold Project is comprised of seven claims groups totalling 230 individual claims located approximately 80 kilometres east-northeast of the town of Red Lake, Ontario. Individually, the properties are known as: Shabumeni (118 claims), East Swain (16 claims), Shabumeni River (16 claims), Skinner (32 claims), Women River (30 claims), Premier Lake (9 claims) and Confederation Lake (9 claims). The main area of interest at this time is the Shabumeni group where Merrex has increased its land position to cover several showings. Consistent with Merrex's philosophy of acquiring large land positions with excellent geology in areas of proven potential, the seven properties in Merrex's Birch-Uchi Gold Project cover a geological environment similar to that of the prolific Red Lake gold belt. For a map of Birch-Uchi Gold Project see our website at www.merrexgold.com. 3/SUBJECT: interesting play here! Posted By: deccaman Post Time: 2/28/2008 10:33 After hearing a blurb on BNN A while back I desided to look into this. Found out about the special dividend and focus of the CO in Mali seems like a good play for me so I am in . regards 4/ SPECIAL DIVIDEND: SUBJECT: NEws ! Posted By: deccaman Post Time: 2/29/2008 08:17 Balance of the Non-core Assets The balance of Merrex's non-core assets does not have the same 'value' issue for taxation purposes as the Jubilee Zinc Project. Therefore, management intends to transfer all of those non-core assets to a newly incorporated company, the shares of which will be distributed as quickly as practicable as a dividend in specie to the shareholders of Merrex. It is intended that the shares of this new second corporation be listed for trading on the TSX Venture Exchange, subject to meeting necessary listing requirements. All of the reorganization steps described herein are subject to shareholder and regulatory approvals as may be required. Mali Primary Exploration Focus In summary, Merrex's primary exploration focus will continue to be its Siribaya Gold Project in west Mali where Merrex holds five mineral permits with two additional permit in process covering over 900 square kilometres, all within the West Mali Gold Belt, a region which currently produces in excess of one million ounces of gold per year from such well-known large gold deposits as the Sadiola and Loulo mines. In addition, Merrex is in various stages of negotiations to acquire additional mineral permits in the area which, when completed, would result in a contiguous land position of approximately 1,000 square kilometres. /more: Link to comment Share on other sites More sharing options...
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