I want to find out if they preparing a detailed geological survey so they can establish a value to all they have found.
Yes i live just north of Kamloops , only a few hours from Ner's Crazy Fox property. I tried on several occasions to get ahold of the company to get a visit to the property or some basic info on what they were doing. Never got a call back, or a reply to my emails. I have sold off most of my holding after that crappy news release.I prefer investing in companies who will communicate with their shareholders.
Nice article, not sure of the date.
I think this is why...
|October 14, 2011|
Newmac Resources Inc. (the “Company”) (TSX-V: NER) has negotiated, subject to acceptance by the TSX Venture Exchange and shareholder approval, a private placement of $1,500,000 with Real Flourish Holdings Limited
These funds will be raised by the Company issuing:
30,000,000 Units (the “Units”) at a price of $0.05 per Unit, each Unit consisting of one common share and one transferable share purchase warrant, each warrant entitling the holder thereof to purchase one additional non flow-through common share, exercisable for a period of four years from the date of issuance at a price of $0.10 per share.
Proceeds from the private placement will be used to explore the company’s properties located in British Columbia and for working capital. This private placement will result in a change of control of the Company and a new control person, being Real Flourish Holdings Limited, a British Virgin Islands Company whose sole shareholder is Mr. Harrison Wu, a resident of West Vancouver, BC. The completion of the private placement is subject to shareholder approval of the change of control and the new control person and is further subject to the acceptance of the TSX Venture Exchange.
Finders’ fees in the amount of $95,000 cash will be paid if the private placement is successful.
On completion of the Private placement Mr. Harrison Wu will join the board of directors and through his company, Real Flourish Holdings Limited, will be the Company’s largest shareholder. Mr. Wu also brings a wealth of business experience to the Company.
David Hjerpe, of the Company, stated, “this private placement and the addition of Mr. Harrison Wu to the board of directors will allow the Company to seek new opportunities and continue to expand the known mineralization on the Crazy Fox project, as well as continue exploration at Raft.”
Well i dont know that a small private placement like that will really ensure a price of .05 or something. In fact once the 4 month hold is up, many times they will sell the commons and ride the warrants. I prefer to buy into good management plays with proven resources , such as PGR , rather than those with questionable management and properties where they hope to hit something.