Gran Colombia Gold (CVE:GCM)
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TORONTO, Dec. 20, 2011 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) announced today that, further to its announcement on December 12, 2011 that GMP Securities L.P. had been retained to assist the Company in the evaluation of several debt financing alternatives, it has signed an exclusive mandate letter with Standard Bank Plc, in conjunction with Pareto Commodities LLC, for the arrangement of a US$100 million senior secured term loan facility (the "Facility") to fund the Company's plan to increase production at its Segovia Operations through the development of a new mechanized mining operation and the acquisition of a new 2,500 tonnes per day mill in addition to its expanded Maria Dama mill.
Maria Consuelo Araujo, Chief Executive Officer of the Company, commented: "We are very pleased to be working with Standard Bank. Its Facility will provide Gran Colombia with the funding required to accelerate the growth at our Segovia Operations at a prudent cost of capital (approximately 12-13%), third party validation of our Segovia assets and a clear path to the next stage of the Company's evolution. Standard Bank has an unparalled reputation in executing debt financings in the resource sector."
The Facility, expected to close at the end of January 2012, will incorporate gold price participation on a total of 150,000 ounces of gold production from the Segovia Operations over the five-year term of the Facility. This represents only 17% of the Company's total estimated gold production from the Segovia Operations over the same five-year period. The fully-funded expansion of the existing Maria Dama mill, already in process and scheduled to be completed in the first quarter of 2012, is expected to almost double gold production from the Segovia Operations in 2012 to approximately 130,000 ounces. The expansion of mining and milling capabilities with the proceeds of this Facility will enable the Company to increase total gold production at Segovia to approximately 200,000 ounces annually by 2014 and to reduce long-term cash costs below US$900 per ounce.
Under the Facility, Standard Bank will purchase 2,500 ounces of gold per month ("Minimum Production") from the Company at market prices, subject to an agreed upon hedging program. From the monthly proceeds derived from the sale of the Minimum Production, Standard Bank will deduct interest on the Facility at LIBOR plus 6.5%, any net premiums related to the hedging program, principal repayments and its gold price participation, which is only 25% to 35% of the gold price realized above US$1,300 per ounce.
The Company will pay interest only on the Facility during the first 12 months, allowing the Company to use its operating cash flow in 2012 to fund its planned US$20 million 80,000 meter drilling program to expand and upgrade its resource at its Segovia Operations. Principal repayments of US$25 million per annum will commence at the beginning of the second year of Facility and will be made on a monthly basis. The Facility may be prepaid at any time after six months.
The Facility will be secured by a pledge of the shares of certain of the Company's subsidiaries holding title to the Segovia Operations, an assignment of the specific assets of the Segovia Operations, an undertaking from the Company regarding the Minimum Production obligation and certain limitations on the incurrence of additional debt, excluding project financing for the development of the Marmato Project.
http://www.grancolombiagold.com/Newsroom/...-Bank1127744/default.aspx
Dec 22/11 Dec 21/11 Davies, Michael Monier Direct Ownership Common Shares 10 - Acquisition in the public market 87,000 $0.500
Dec 22/11 Dec 21/11 Davies, Michael Monier Direct Ownership Common Shares 10 - Acquisition in the public market 113,000 $0.520
11:13 AM EST - Gran Colombia Gold Corp. (GCM)
Serafino Iacono purchased [b]52,000 shares at 38 cents on 23-12-11 -- bringing his total stake to 3,695,362 shares
http://baystreet.money.ca.msn.com/quotedata/.../ca/insidertrades.aspx
- Acquisition in the public market 52,000 $0.380
Dec 24/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 9,500 $0.385
Dec 24/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 10,500 $0.390
Dec 24/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 5,500 $0.400
Dec 23/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 52,000 $0.380
Dec 23/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 9,500 $0.385
Dec 23/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 10,500 $0.390
Dec 23/11 Dec 22/11 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 5,500 $0.400
http://canadianinsider.com/node/7?menu_tickersearch=gcm
# of Holders: 25
Total Shares Held: 136,764,932
3 Mo. Net Change: 18,413,788
# New Positions: 2
# Closed Positions: 3
# Increased Positions: 10
# Reduced Positions: 3
# Net Buyers: 7
http://www.reuters.com/finance/stocks/...cialHighlights?symbol=GCM.TO
TORONTO, Jan. 9, 2012 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) today provided an update on the progress of its Marmato Project, located in the Department (State) of Caldas, Colombia. The Company will hold a conference call on Wednesday, January 11, 2012, at 11:00 a.m. (Eastern Time) to discuss the progress at Marmato, the details of which are located at the end of this news release.
Miners' Negotiations
On November 28, 2011, the Secretary of the Department of Caldas, Fernando Alvarez Hely Mejía, confirmed the Department's commitment to assist Gran Colombia in reaching an agreement with artisanal mines within the Company's concession at the Marmato Project, which negotiations are well underway.
At the Marmato Project, there are a few formal mining titles still to be acquired, as well as certain artisanal miners which need to move their operations. There are a total of 15 mining titles at Alto El Burro that the Company requires, and since starting negotiations in early November, it has reached agreement with ten (67%) of the owners. At Chaburquia, Echandia and Cien Pesos, there are a total of 76 artisanal mines, representing 501 workers, and since starting negotiations in early November, the Company has reached agreement with 49 (65%) of these mines, representing 228 workers, and is in the midst of negotiations with the remaining 27 (35%). Under these agreements, the artisanal mines will continue to operate for up to two years, at which time the Company anticipates commencing large scale mining at the Marmato Project. The Company has also implemented an environmental and safety training program for the artisanal miners, which will not only serve to immediately improve environmental and safety conditions at Marmato, but will lay the groundwork for these artisanal miners to be available for employment by the Company at its open-pit mine at Marmato once constructed.
The Company still has to negotiate with the remaining artisanal mines at Chaburquia, Echandia and Cien Pesos, as well as with the remaining title-holders at Alto El Burro. It is anticipated that almost all negotiations will be completed by the end of the first quarter of 2012.
Marmato Resettlement Progress
In order for the Company to build the open pit operation at Marmato, the existing town of Marmato will need to be moved and the existing residents re-settled to nearby areas including the town of El Llano, approximately 1.5 km away. The new town of El Llano will be a planned, modern community with proper streets, sewage, utilities and clean water, which is important in a district where only 53% of the homes have running water and only 56% are connected to a sewage system. Also, as it sits in the valley next to the El Burro hill on which the Town of Marmato is situated, El Llano will not be subject to the periodic landslides that afflict Marmato.
In connection with the resettlement, Gran Colombia has engaged Social Capital Group, a company with extensive experience in community resettlement in South America, to complete a population census and a socioeconomic survey of the community. The results of the census will serve as a framework for the Company to establish compensation parameters, appropriate income restoration and sustainable development initiatives in the new resettlement area. The census is also designed to ensure the mitigation of any adverse effects, and help verify that the benefits of resettlement of the Town of Marmato are appropriate and sustainable.
Work conducted by Social Capital indicates that there are approximately 203 homes in the Town of Marmato (1,370 in the town and surrounding district) with a population of 749 people (5,424 in the town and surrounding district). In the town and surrounding district, 97.6% (2,232) of people of working age are employed, of whom 998 (44.7%) already work for Gran Colombia at its Mineros Nacionales mine or in exploration, planning and related activities.
The exact number of people to be resettled will be included in the Resettlement Action Plan, which is currently being prepared by Social Capital. The Plan is expected to be completed in early 2012 at which time the Company will engage national, regional, local and community leaders, as well as the Catholic Church and independent NGOs, to work together to resettle the people of Marmato. As part of this engagement process, Gran Colombia has recently commenced a door-to-door information campaign with the objective of informing the community about the resettlement process and assessing and addressing the concerns raised by the community. Initial results indicate that, only 30 days into the process, at least 41% of the community supports the resettlement process.
Recognising the importance of the local Roman Catholic Church to the fabric of the Marmato community, Gran Colombia has commenced working with the Archdiocese to enlist their help in the socialisation and proper implementation of the plans for relocating the community.
In addition, Gran Colombia has hired BSD Consultants, a Switzerland-based consulting group with offices in Colombia, which has broad experience in implementing corporate responsibility and sustainable development projects within Colombia, to advise the Company on land purchases and the design, management and implementation of a sustainable urban development plan for the resettlement of the Marmato community. BSD will also assist the Company in developing and implementing social, local and institutional development programs in the local community.
The Company has also engaged Replan, a Canadian organization with more than 30 years of experience specializing in managing social, economic and housing dimensions of resource development projects, to perform an audit on all processes for the resettlement of Marmato and to provide recommendations based on such audit.
Gran Colombia continually re-affirms its commitment to social responsibility initiatives in the Town of Marmato, and recently contributed approximately US$2 million to the town and its surrounding area, to be used to fund Phase II construction of the El Llano Hospital, the construction of an administrative centre and other community projects. Through its Mineros Nacionales mine, Gran Colombia already pays royalties of between 0.4% and 4% to the national government and a 6% special administrative fee for certain of its mining titles payable to the local authorities in Marmato, totaling US$1.9 million alone for 2011 (to September 30). The Company, as it has done for the social development of the Segovia district, also intends to establish a special purpose foundation, funded out of production from the Marmato Project, the sole purpose of which will be the improvement of social conditions in the Marmato district.
Gran Colombia regards the Marmato resettlement as an opportunity to improve the livelihoods and the future development of the Marmato community and such planning is being undertaken by the Company in strict accordance with international standards for resettlement as recommended by the World Bank in their International Financing Corporation guidelines.
Gran Colombia has also become a member of Canadian Business for Social Responsibility (CBSR), which is the Canadian representative in a world-wide network committed to corporate social responsibility, and which will assist Gran Colombia by providing key findings, opportunities and recommendations to our policies and programs, to ensure that they are all to international standards and guidelines. CBSR will also facilitate some of the processes that the Company is implementing by providing their insight and experience.
Appointment of Director of Sustainability
The Company is also pleased to announce the appointment of Luca Altamura as Director of Sustainability of the Company, effective November 15, 2011. Mr. Altamura's focus will be on managing the Company's social and community relations, and corporate social responsibility. Mr. Altamura is already actively involved in the negotiations with the artisanal miners on behalf of the Company and has engaged directly with the community of Marmato with respect to the resettlement of the town.
From 2010 to July 2011, Mr. Altamura was the Associate Protection Field Officer for the Office of the United Nations Commissioner for Refugees based in the Caquetá Department of Colombia where he was responsible for assessing the needs and social conditions of internally displaced persons and providing counseling and support through the UN and local authorities in Colombia. He was also responsible for the supervision and co-ordination of certain work related to community service, public policy, education, law enforcement, land and property in the Department of Caquetá. In 2008, Mr. Altamura served as an Intern International Mediator in San Diego (California) and practiced law in Italy from 2003 to 2008.
Mr. Altamura holds a law degree from the University of Federico II (Naples, Italy), and has obtained a PhD in Administrative Law and a Masters in International Law. In addition, he has completed several post graduate courses in various subjects including Peace and Human Rights, International Mediation for the UN, and International Conflict Resolution.
"We are delighted to have Mr. Altamura as part of the Gran Colombia team. Mr. Altamura brings to Gran Colombia considerable knowledge and experience in adopting and implementing social policies and resettlement programs for populations that need to be moved," said Maria Consuelo Araujo, the Chief Executive Officer of the Company.
http://www.grancolombiagold.com/Newsroom/...ement1127857/default.aspx
TORONTO, Jan. 9, 2012 /CNW/
http://www.grancolombiagold.com/Newsroom/...oject1127868/default.aspx
TORONTO, Jan. 24, 2012 /CNW/
http://www.grancolombiagold.com/Newsroom/...etres1128036/default.aspx
Jan 26/12 Jan 25/12 Metcalfe, Robert Direct Ownership Common Shares 10 - Acquisition in the public market 6,000 $0.516
Jan 13/12 Jan 13/12 Iacono, Serafino Direct Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.400
Jan 13/12 Jan 13/12 De La Campa, Miguel Angel Direct Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.400
http://canadianinsider.com/node/7?menu_tickersearch=gcm
by Doug Morrison on Jan 26, 2012
Gran Colombia Gold Corp (TSX:GCM) closed at $0.55, up 17.02%, on big volume after the company announced drill results after the market on Tuesday.This latest move takes the stock above resistance at $0.50, which may now serve as support. There is a fairly clear run to the $0.70 level and the 20 day moving average is poised to cross the 50 day moving average. Although the stock now trades on an RSI of 63.37, it is still worth just over ¼ of its March, 52 week high value.
http://www.smallcappower.com/articles/...mbia-gold-corp-26012012.html
THE LEADING COLOMBIAN GOLD PRODUCER
Growing Production
January 2012
http://www.grancolombiagold.com/Theme/...0-%20January%202012%20pr.pdf
- Acquisition in the public market 18,500 $0.570
Feb 6/12 Feb 2/12 East, Donald Direct Ownership Common Shares 10
- Acquisition in the public market 41,500 $0.570
http://canadianinsider.com/node/7?menu_tickersearch=gcm
06.02.2012 - 18:46 Uhr
http://www.gevestor.de/details/...firmen-sind-erfolgreich-510064.html
Nach meiner Recherchen steht auch die Politik hinter gran!
Weiss einer da mehr?
Und die Insiderkäufe sprechen auch dafür das hier was am brummen ist Oder!
für mich ist es auch wichtig, dass sie auf 2 beinen stehen (silber) , dass der chief bestens connectivity hat, dass sie schon längere zeit produzieren. änlich sieht das auch oxford club.
Ich denke,in den nächsten Monaten wird hier was passieren.
bauschij
MK stimmt auch eigentlich,nur das Gran halt ein Kolumbianische Aktie ist schreckt viele davon ab.
Aber ich bin mir sicher,die Käufe von Insidern wurden nicht umsonst getätigt.
Wenn die das erreichen was bis 2016 Gepredigt wird,ja dann haben wir hier 2stellige kurse.
Und dieses Risiko gehe ich gerne ein.
Es ist heutzutage nicht mehr solche werte wie Gran zu finden.
Nur der Nachteil der Aktie ist,das der Ort Kolumbien ist.
Es kommt mir vor das viel Geld in Südamerika fliesen wird und die Politik wird Investoren die Türe Öffnen.
Und Gran kommt in erster stelle von Südamerikanischen Minen.
Ich bin sehr Optimistisch was dieses Aktie betrifft bauschij.
Und deswegen knalle ich meine Silvercrestgewinne da rein.
Langfristig traue ich der Aktie kurse über 3CAD.
Natürlich ist das meine meinung und kein Kaufempfehlund.
Dieses jahr hat mein Bauchgefühl mich nicht enttäuscht und ich denke das auch dieses Jahr die Aktie schlagartig nach oben drehen wird.
China soll ja ganz groß nach S-America einkaufen gehen und die haben gewiß keine Angst vor Kolumbien!
Schönes Wochenende!
bauschij
# of Holders: 20
Total Shares Held: 162,926,333
3 Mo. Net Change: 22,945,404
# New Positions: 1
# Closed Positions: 4
# Increased Positions: 6
# Reduced Positions: 7
# Net Buyers: -1
http://www.reuters.com/finance/stocks/...cialHighlights?symbol=GCM.TO
- Acquisition in the public market 100,000 $0.360
Apr 9/12 Apr 9/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 200,000 $0.365
Apr 9/12 Apr 9/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 1,157,500 $0.360
Apr 9/12 Apr 9/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 2,500 $0.350
Apr 5/12 Apr 5/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 40,000 $0.350
Apr 5/12 Apr 5/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 50,000 $0.355
Apr 5/12 Apr 5/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 50,000 $0.360
Apr 5/12 Apr 5/12 Volk, Peter Joseph Direct Ownership Common Shares 10
- Acquisition in the public market 14,000 $0.355
Apr 5/12 Apr 4/12 Iacono, Serafino Indirect Ownership Common Shares 10
- Acquisition in the public market 135,336 $0.370
Apr 3/12 Apr 2/12 Iacono, Serafino Direct Ownership Common Shares 10
- Acquisition in the public market 1,000 $0.395