Going to bring this one back from the dead,,,lol
Started a position a week ago and flipping part of it.
Here some info that i think will make this go up. again trade at your own risk
STRAIT GOLD GRANTS TECK OPTION TO EARN UP TO 75% IN ALICIA
Strait Gold Corp. has signed a binding agreement with Teck Peru SA, a wholly owned subsidiary of Teck Resources Ltd., giving Teck Peru an option to earn up to a 75-per-cent interest in the company's Alicia copper-gold property in Peru by spending up to $30-million on exploration at Alicia or delivering a prefeasibility study, making $500,000 in cash option payments, and exercising the warrants referred to herein. As a condition of entering into the agreement, Teck has agreed to make a $600,000 equity investment into Strait Gold at a 100-per-cent premium to Strait Gold's closing share price on Dec. 8, 2011.
"We are pleased to enter into this agreement with Teck, a partner that is capable of taking Alicia all the way to production," said Strait Gold president Jim Borland. "This also gives us the resources to expand our efforts in Peru, which we consider the best jurisdiction in the world for mineral exploration, and establish Strait Gold among the leading exploration juniors in the country."
Strait Gold holds a 55-per-cent interest, with an option to earn a 100-per-cent interest, in Alicia, which lies within the Andahuaylas-Yauri porphyry-skarn copper belt approximately 500 kilometres southeast of Lima. This belt hosts a number of important copper and copper-gold deposits, including Xstrata's Las Bambas (about 40 kilometres west of Alicia) and Antapaccay (about 80 kilometres southeast of Alicia), in which Xstrata is investing a total of $5.7-billion (U.S.) for development, the Haquira copper project (also about 40 kilometres west of Alicia), which was recently acquired by First Quantum Minerals, and the Constancia copper project (about 60 kilometres east of Alicia), which was recently acquired by HudBay Mining.
Drilling at Alicia by Strait Gold in late 2010 and early 2011 demonstrated robust copper-gold mineralization in several skarn zones. Rock and soil sampling of porphyry intrusives associated with the skarns have returned anomalous copper values over an area greater than 3.4 kilometres long and roughly 900 metres wide that coincides with geophysical anomalies detected in airborne magnetic and radiometric surveys. Results of an airborne ZTEM geophysical survey conducted during the summer are pending.
Teck will subscribe for a private placement of three million units of Strait Gold at 20 cents per unit. Each unit comprises one common share and one share purchase warrant exercisable at 25 cents within 12 months of closing of the placement or at 35 cents within 24 months of closing of the placement. The units will be subject to a four-month statutory hold period.
Upon closing of the private placement, Teck will have the right to participate in future financings to maintain its percentage interest in the company.
Under the terms of the agreement, Teck Peru can earn an initial 45-per-cent interest in the property by Dec. 31, 2013, by:
If Teck Peru earns a 45-per-cent interest, it can then increase its interest in the property to 65 per cent by:
If Teck Peru earns a 65-per-cent interest, it can then increase its interest in the property to 75 per cent by: (i) completing exploration expenditures of a further $20-million by Dec. 31, 2018 (for a total exploration expenditure of $30-million); or (ii) completing a prefeasibility study on the property on or before Dec. 31, 2018.
Strait Gold will act as manager of the project for the term of the first option, and will be entitled to an administrative fee equal to 10 per cent of the exploration expenditures.
Once Teck Peru has earned an interest in the property, a joint venture company will be established, reflecting each company's pro rata interest. The shareholder of the JV company that has the largest shareholding percentage will be the operator of the JV company and may remain operator so long as it has the single largest shareholding. Standard dilution terms will be established for the JV company such that Strait Gold, if diluted to less than a 10-per-cent interest, will convert its interest to a 5-per-cent dividend interest.
Should Teck Peru earn a 75-per-cent interest in the property and decide to put the property into production, it will offer to provide financing for Strait's share of capital requirements that are in excess of any project financing arranged by the JV company.
Each of Teck Peru and the company will hold a right of first offer or first refusal if either party wishes to dispose of any part of its interest in the JV company, or if an offer is made by a third party for either party's interest.
The agreement and the private placement are subject to regulatory approval.
All of the company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, PGeo, who serves as the qualified person as defined by National Instrument 43-101 and is a director of the company. Dr. Moss has reviewed the technical content of this news release.
Strait Gold closes $600,000 placement with Teck
2011-12-19 09:32 ET - News Release
Mr. Jim Borland reports
STRAIT GOLD CLOSES $600,000 PRIVATE PLACEMENT WITH TECK
Strait Gold Corp., further to its press release of Dec. 9, 2011, has closed the $600,000 private placement with Teck Resources Ltd. Teck subscribed for three million units of Strait Gold at 20 cents per unit. Each unit comprised one common share and one share purchase warrant exercisable at 25 cents within 12 months of closing of the placement or at 35 cents by Dec. 31, 2013. The securities issued to Teck are legended and restricted from trading until April 17, 2012. The proceeds will be used by the company for general working capital.
Strait Gold three-million-share private placement
2011-12-23 17:28 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 19, 2011.
Number of shares: Three million shares
Purchase price: 20 cents per share
Warrants: Three million share purchase warrants to purchase three million shares
Warrant exercise price: 25 cents for a one-year period and 35 cents thereafter until Dec. 31, 2013
Number of placees: One placee
2012-01-04 08:17 ET - News Release
Mr. Jim Borland reports
STRAIT GOLD ANNOUNCES GRANT OF STOCK OPTIONS
An aggregate of 1.95 million options to purchase common shares of the corporation at 18 cents per share for five years have been granted to seven directors, one executive officer and five consultants of Strait Gold Corp.
SRD got some action today I guess this NR got some ppl attention.
Chart. http://stockcharts.com/h-sc/ui?s=SRD.V&p=D&yr=0&mn=6&dy=0&id=p73953058296&a=258365716
Strait to boost Alicia drill program to 23,000 m
2012-06-06 11:30 ET - News Release
Mr. Jim Borland reports
STRAIT GOLD PLANS EXPANDED 58-HOLE DRILL PROGRAM AT ALICIA
Strait Gold Corp. has submitted a modified plan to Peru's Ministry of Energy and Mines for an expanded, 23,000-metre, 58-hole drill program at its Alicia copper-gold project.
A 6,000-metre first-phase drill program in 2012 is being financed by Teck Peru SA, a wholly owned subsidiary of Teck Resources Ltd. Under the terms of an option agreement, Teck must spend $30-million on exploration (or spend $10-million on exploration plus deliver a prefeasibility study) to earn a 75-per-cent interest in the property. The $2-million drill program in 2012 is mandatory under the option agreement; financing of further work is solely at the discretion of Teck.
Prior to entering into the option agreement with Teck, the company applied to the ministry for a permit to conduct up to 10,000 metres of core drilling, which was approved by the ministry in February, 2012. Subsequent to entering into the Teck agreement, the company revised its drill plan to 23,000 metres as laid out by a joint technical committee of the company and Teck.
"We have a permit in hand for 10,000 metres of drilling, but we may want to keep the drills turning after Teck's mandatory program is completed," said Strait Gold president Jim Borland. "Having an expanded permit for 23,000 metres will allow us to continue uninterrupted."
The expanded drill plan is a modification of the already-approved drill plan, so the company does not anticipate undue regulatory delays. In the meantime, the company can and may start drilling an initial four holes totalling 1,600 metres under the existing permit that coincide with holes laid out in the modified plan.
Detailed mapping of alteration and vein/stockwork is under way in the main Alicia intrusive, the target of the first four drill holes, including detailed rock sampling along proposed drill sections.
Mapping to date has identified five phases of porphyritic intrusion on the property. Rock sampling of exposed porphyry defined an anomalous copper zone (over 0.05 per cent copper in rock samples) measuring approximately 800 metres by 600 metres. Soil sampling extended that anomalous zone (over 0.1 per cent copper in soil samples) to 3,400 metres by 600 metres where the porphyry goes under cover to the east, west and northwest of the exposed porphyry.
Drilling planned for 2012 will test the property's porphyry potential. Proposed holes are oriented north-south on sections spaced 200 metres apart, with six holes in the central zone and the balance in the geochemical anomalies that extend to the east and west of the central zone. Average depth is expected to be 350 metres to 400 metres.
A community agreement, required under Peruvian law prior to drilling, has been in place at Alicia since February, 2010, and was recently renewed until February, 2014.
All of the company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, PGeo, who serves as the qualified person as defined by NI 43-101, and is a director of the company. Dr. Moss has reviewed the technical content of this news release.
Quality control and quality assurance
All sampling is supervised by Strait Gold personnel. Samples are securely stored in a locked room prior to transportation to Cusco by Strait Gold personnel. Samples are delivered to the ALS Chemex office in Cusco and forwarded by ALS Chemex to Arequipa for sample preparation. The resulting pulps are sent to its laboratory in Lima for analysis. ALS Chemex is an ISO 9001:2000-registered laboratory. Samples are analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for samples exceeding the upper limit of analysis (overlimit). Silver, copper, molybdenum, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Strait Gold routinely carries out a program of quality assurance/quality control that includes insertion of blanks, standards and duplicates into the sample stream to verify results.
