Euromax Resources Reloaded - Produktion ab 2016 - 500 Beiträge pro Seite
eröffnet am 17.06.14 16:10:29 von
neuester Beitrag 28.10.16 08:46:56 von
neuester Beitrag 28.10.16 08:46:56 von
Beiträge: 12
ID: 1.195.524
ID: 1.195.524
Aufrufe heute: 0
Gesamt: 2.037
Gesamt: 2.037
Aktive User: 0
ISIN: CA29873T3073 · WKN: A1J6XZ · Symbol: EOXFF
0,1798
USD
0,00 %
0,0000 USD
Letzter Kurs 02:10:00 Nasdaq OTC
Werte aus der Branche Öl/Gas
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 1,240 | +26,53 | |
| 2,090 | +20,81 | |
| 2,890 | +17,48 | |
| 8,0600 | +14,81 | |
| 5,060 | +11,45 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 20,030 | -7,61 | |
| 6,7200 | -8,82 | |
| 1,0500 | -11,02 | |
| 4,4450 | -16,45 | |
| 9,3500 | -28,02 |
Feedback
Ich verfolge Euromax Resources schon seit Jahren und ich bin nach wie vor davon überzeugt, dass der Wert es in sich hat. Seit das Management gewechselt hat, sieht es endlich so aus, als ob es richtig voran geht in Mazedonien.
Und es gibt wieder News, die Mut machen und die beweisen, dass der Kursanstieg der letzen Wochen berechtigt ist:
http://www.theglobeandmail.com/report-on-business/industry-n…
Demnach will man ab 2016 Ilovitza endlich in Produktion bringen.
Für diejenigen, die Euromax Resources noch nicht kennen, ein paar Fakten:
* erster potezieller (Gold-/Kupfer)Minenbetreiber auf dem Balkan mit guten Aussichten auf Produktion seit 30 Jahren
* Jährliche Kapazität: 95000oz Gold, 16000t Kupfer, ausgehend von einem Goldpreis von aktuell 1250$/oz und 3$ pro Pfund Kupfer macht das einen Wert von 675 Mio. $ vor Steuern, bei einem Goldpreis von 1400$ und Kupfer zu 3,5$ steigt der NPV alleine für Ilovitza auf 1 Mrd. $!
* Aktuelle Bewertung 93,3 Mio. Aktien voll verwässert bei einem Preis von 0,6CAD sind das 56Mio CAD => ergo ein Tenbagger!
* Homepage: http://www.euromaxresources.com
Noch Fragen?
Die genannte News:
June 16, 2014
Euromax proving to be an exception for Canadian mining firms in Europe
By ERIC REGULY
While many have been hit by political indecision and fierce opposition from environmental groups, Euromax's Ilovitza gold-copper deposit in southeast Macedonia is almost certain to go ahead
Canadian mining companies have had a rough go in Europe. Clobbered by political indecision and fierce opposition from environmental groups, Gabriel Resources seems on the verge of abandoning its 15-year attempt to open the continent's biggest gold mine, in Romania. Eldorado Gold has been besieged by protests and an arson attack that have slowed, though not killed, its mine development in northern Greece.
Euromax Resources is proving the exception to the rule that no Canadian mining development in Europe shall go unchallenged. The company's shares, which are listed on Toronto's Venture exchange, tripled over a three-day period starting June 5, when it released a pre-feasibility study that, it claimed, amply displayed the "economic robustness" of its Ilovitza gold-copper deposit in southeast Macedonia. The shares last traded at 60 cents; at one point in April, they were under a dime.
The encouraging study means that the $500-million (U.S.) open-pit mine is almost certain to go ahead. "We have the chance to build the first greenfield mine that anyone has seen in the Balkans for 30 years," says Euromax CEO Steve Sharpe.
Even better, the permitting risk, while not absent, seems low. Macedonia is a new country that is working hard to attract foreign investors. To streamline development, it front-end loads the permitting process, that is, government departments and regulators provide permits based on detailed conceptual studies. "You get government buy-in from day one," Mr. Sharpe says, noting that Euromax expects no problems in obtaining the construction permit.
Compare this to Gabriel, which has spent about $550-million on project development and legal work on its proposed Rosia Montana mine, in the Transylvania mountains, with nothing to show for it. Every permit has been challenged by savvy and well-organized local and international environmental groups whose supporters, at times, have included Hungarian billionaire George Soros and actor Vanessa Redgrave. Rosia Montana has emerged as the textbook case on how not to develop a mine. Gabriel is considering an international arbitration case to recoup the lost investment and profits.
Euromax's Macedonia mine is a simple beast, in comparison. While large, it is not so large, like Gabriel's, to emerge as a political lightening rod. "One of the things you learn is that once you say it's the biggest X or biggest Y, you attract a lot of attention," Mr. Sharpe said.
The Euromax mine does not require the relocation of villages and their inhabitants, as Gabriel's does, and its footprint, while relatively large, is nowhere near the size of Gabriel's four-pit, mountain-leveling behemoth.
The low-grade Ilovita mine will product about 95,000 ounces a year of gold and 16,000 tonnes of copper. Based on a gold price of $1,250 an ounce, and copper at $3 a pound, the mine would carry a $675-million pretax net present value. A rise in the gold price to $1,400 and copper to $3.50 would boost the NPV to $1-billion.
Euromax plans to build the mine in 2016 and start scraping the ore out of the ground a year later. The company does not plan to hose out new shares to pay for the project. Bank debt, which will probably be guaranteed by the German state, will finance the bulk of the development costs. Germany is involved because the mine concentrate is going to a German-owned smelter in Bulgaria. For investors, the idea is to run the mine effectively as an income trust, with half the free cash flow to be paid out to shareholders in the form of dividends.
Euromax is moving at remarkable speed. The company was formed only two years ago by the former management team of European Goldfields, which was bought that year by Eldorado (Mr. Sharpe was Goldfields' business development boss). Barring a disaster, Euromax will have a working mine in three years. Gabriel must be watching in awe.
Und es gibt wieder News, die Mut machen und die beweisen, dass der Kursanstieg der letzen Wochen berechtigt ist:
http://www.theglobeandmail.com/report-on-business/industry-n…
Demnach will man ab 2016 Ilovitza endlich in Produktion bringen.
Für diejenigen, die Euromax Resources noch nicht kennen, ein paar Fakten:
* erster potezieller (Gold-/Kupfer)Minenbetreiber auf dem Balkan mit guten Aussichten auf Produktion seit 30 Jahren
* Jährliche Kapazität: 95000oz Gold, 16000t Kupfer, ausgehend von einem Goldpreis von aktuell 1250$/oz und 3$ pro Pfund Kupfer macht das einen Wert von 675 Mio. $ vor Steuern, bei einem Goldpreis von 1400$ und Kupfer zu 3,5$ steigt der NPV alleine für Ilovitza auf 1 Mrd. $!
* Aktuelle Bewertung 93,3 Mio. Aktien voll verwässert bei einem Preis von 0,6CAD sind das 56Mio CAD => ergo ein Tenbagger!
* Homepage: http://www.euromaxresources.com
Noch Fragen?
Die genannte News:
June 16, 2014
Euromax proving to be an exception for Canadian mining firms in Europe
By ERIC REGULY
While many have been hit by political indecision and fierce opposition from environmental groups, Euromax's Ilovitza gold-copper deposit in southeast Macedonia is almost certain to go ahead
Canadian mining companies have had a rough go in Europe. Clobbered by political indecision and fierce opposition from environmental groups, Gabriel Resources seems on the verge of abandoning its 15-year attempt to open the continent's biggest gold mine, in Romania. Eldorado Gold has been besieged by protests and an arson attack that have slowed, though not killed, its mine development in northern Greece.
Euromax Resources is proving the exception to the rule that no Canadian mining development in Europe shall go unchallenged. The company's shares, which are listed on Toronto's Venture exchange, tripled over a three-day period starting June 5, when it released a pre-feasibility study that, it claimed, amply displayed the "economic robustness" of its Ilovitza gold-copper deposit in southeast Macedonia. The shares last traded at 60 cents; at one point in April, they were under a dime.
The encouraging study means that the $500-million (U.S.) open-pit mine is almost certain to go ahead. "We have the chance to build the first greenfield mine that anyone has seen in the Balkans for 30 years," says Euromax CEO Steve Sharpe.
Even better, the permitting risk, while not absent, seems low. Macedonia is a new country that is working hard to attract foreign investors. To streamline development, it front-end loads the permitting process, that is, government departments and regulators provide permits based on detailed conceptual studies. "You get government buy-in from day one," Mr. Sharpe says, noting that Euromax expects no problems in obtaining the construction permit.
Compare this to Gabriel, which has spent about $550-million on project development and legal work on its proposed Rosia Montana mine, in the Transylvania mountains, with nothing to show for it. Every permit has been challenged by savvy and well-organized local and international environmental groups whose supporters, at times, have included Hungarian billionaire George Soros and actor Vanessa Redgrave. Rosia Montana has emerged as the textbook case on how not to develop a mine. Gabriel is considering an international arbitration case to recoup the lost investment and profits.
Euromax's Macedonia mine is a simple beast, in comparison. While large, it is not so large, like Gabriel's, to emerge as a political lightening rod. "One of the things you learn is that once you say it's the biggest X or biggest Y, you attract a lot of attention," Mr. Sharpe said.
The Euromax mine does not require the relocation of villages and their inhabitants, as Gabriel's does, and its footprint, while relatively large, is nowhere near the size of Gabriel's four-pit, mountain-leveling behemoth.
The low-grade Ilovita mine will product about 95,000 ounces a year of gold and 16,000 tonnes of copper. Based on a gold price of $1,250 an ounce, and copper at $3 a pound, the mine would carry a $675-million pretax net present value. A rise in the gold price to $1,400 and copper to $3.50 would boost the NPV to $1-billion.
Euromax plans to build the mine in 2016 and start scraping the ore out of the ground a year later. The company does not plan to hose out new shares to pay for the project. Bank debt, which will probably be guaranteed by the German state, will finance the bulk of the development costs. Germany is involved because the mine concentrate is going to a German-owned smelter in Bulgaria. For investors, the idea is to run the mine effectively as an income trust, with half the free cash flow to be paid out to shareholders in the form of dividends.
Euromax is moving at remarkable speed. The company was formed only two years ago by the former management team of European Goldfields, which was bought that year by Eldorado (Mr. Sharpe was Goldfields' business development boss). Barring a disaster, Euromax will have a working mine in three years. Gabriel must be watching in awe.
Es war in 2006, als ich erstmals auf Euromax aufmerksam geworden bin aufgrund dieses Artikels: http://derstandard.at/2559789
Goldvorkommen in Bulgarien entdeckt
Redaktion
27. November 2006, 14:45
In Bulgarien ist ein Goldvorkommen mit hohem Gehalt des Edelmetalls entdeckt worden
Sofia - In Bulgarien ist ein Goldvorkommen mit hohem Gehalt des Edelmetalls entdeckt worden. Dies habe das kanadische Unternehmen Euromax Resources Limited nach 700.000 Proben festgestellt, wie die Firma am Dienstag in Sofia mitteile. Dabei geht es um einen Goldgehalt bis 440 Gramm per Tonne Erdmasse und damit um einen der "bedeutendsten der letzten 100 Jahren".
Das Goldvorkommen liegt im Westen des Balkanlandes bei dem Ort Tran in der Nähe der Grenze zu Serbien. Es ist 1,5 Kilometer lang und 70 Meter breit, wobei sich das Gold auf der Oberfläche befindet. Das kanadische Unternehmen kritisierte den "langsamen Ablauf zur Erteilung von Zulassungen und Lizenzen" in Bulgarien, was die Investoren vertreibe. (APA/dpa)
Trun ist aber mittlerweile verkauft worden, weil man sich auf größere und aussichtsreichere Projekte konzentrieren wollte, eben Ilovitza. Ich muss das mal genau nachgucken...
Goldvorkommen in Bulgarien entdeckt
Redaktion
27. November 2006, 14:45
In Bulgarien ist ein Goldvorkommen mit hohem Gehalt des Edelmetalls entdeckt worden
Sofia - In Bulgarien ist ein Goldvorkommen mit hohem Gehalt des Edelmetalls entdeckt worden. Dies habe das kanadische Unternehmen Euromax Resources Limited nach 700.000 Proben festgestellt, wie die Firma am Dienstag in Sofia mitteile. Dabei geht es um einen Goldgehalt bis 440 Gramm per Tonne Erdmasse und damit um einen der "bedeutendsten der letzten 100 Jahren".
Das Goldvorkommen liegt im Westen des Balkanlandes bei dem Ort Tran in der Nähe der Grenze zu Serbien. Es ist 1,5 Kilometer lang und 70 Meter breit, wobei sich das Gold auf der Oberfläche befindet. Das kanadische Unternehmen kritisierte den "langsamen Ablauf zur Erteilung von Zulassungen und Lizenzen" in Bulgarien, was die Investoren vertreibe. (APA/dpa)
Trun ist aber mittlerweile verkauft worden, weil man sich auf größere und aussichtsreichere Projekte konzentrieren wollte, eben Ilovitza. Ich muss das mal genau nachgucken...
Antwort auf Beitrag Nr.: 47.164.368 von Donnerkiesel am 17.06.14 16:10:29
Wenn Du denkst dass das gute Zahlen sind, dann nur zu.
Kauf Dir welche.
Eher mehr, als weniger.
Gruß
P.
Zitat von Donnerkiesel/Euromax Resources: * erster potezieller (Gold-/Kupfer)Minenbetreiber auf dem Balkan mit guten Aussichten auf Produktion seit 30 Jahren
Total Sulphide Probable Reserve of 209 million tonnes at an average grade of 0.34 g/t Au and 0.20% Cu
Total Oxide Probable Reserve of 16 million tonnes at 0.33 g/t Au
Throughput of 10 million tonnes per annum and mine life of 23 years
Conventional open pit with strip ratio of 0.7:1
Average process recoveries of 86.5% gold and 84% copper
Average annual payable production of 95,000 oz gold and 16,000 tonnes of copper
World Gold Council defined Adjusted Operating Cash Costs of US$216/oz and All-In Costs of US$334/oz*
Pre-tax NPV(5%) of US$675 million and Post-tax NPV(5%) of US$558 million
Pre-tax IRR of 18.6% and Post-tax IRR of 16.5%
Initial Capex US$502 million including contingency
Distributable post-tax net cash flow of US$1.2 billion after capex, bei einem Goldpreis von 1400$ und Kupfer zu 3,5$ steigt der NPV alleine für Ilovitza auf 1 Mrd. $!
* Aktuelle Bewertung 93,3 Mio. Aktien voll verwässert bei einem Preis von 0,6CAD sind das 56Mio CAD => ergo ein Tenbagger!
* Homepage: http://www.euromaxresources.com
Noch Fragen?
Wenn Du denkst dass das gute Zahlen sind, dann nur zu.
Kauf Dir welche.
Eher mehr, als weniger.
Gruß
P.
ich habe mir auch ein paar Stücke zugelegt... in der 2. Dezemberwoche endet meist schon das Tax-loss selling in Kanada bzw erreicht seinen Hochpunkt...
Euromax ist hochinteressant da das Management mit European Goldfields schon mal einen Volltreffer hin gelegt hat. Die scheinen es drauf zu haben.
Die gestrige news nach börsenschluss bestätigt das.. Der 2. Deal nach dem 170 Mio$-Deal mit Royal Gold.
Das da eine europäische Institution bei einem PP teilnimmt und nun 20% der Anreile hält ist schon aussergewöhnlich. Das Management scheint es zu verstehen Investoren zu finden.
Das Project an sich ist mit um die 300$ Cashkosten pro unzen nach Beiprodukten äusserst robust. Und auch in Schwächephasen bei Gold hochprofitabel.
Auffällig ist auch das die Aktie komplett ungehyped ist.. keine Sau scheibt bei Stockhouse oder sonstwo dazu .... ins Depot legen und später mit fetten Gewinn verkaufen würd ich sagen
..könnte mir gut vorstellen das Firmen wie Eldorado Gold welche sich mehr und mehr für Osteuropa interessieren dieses Projekt auf der Watchlist haben.
... Hier die news von gestern:
Euromax Announces Non-Brokered Private Placement to the EBRD
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2014) - Euromax Resources Ltd. (TSX VENTURE:EOX)(OTC PINK:EOXFF): ("Euromax" or the "Company"), is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with the European Bank for Reconstruction and Development ("the EBRD") under a non-brokered private placement (the "Private Placement").
Under the terms of the Subscription Agreement, the EBRD will subscribe for common shares of the Company at a price of C$0.25 per common share for gross proceeds equal to the C$ equivalent of up to US$5 million and will receive a one-quarter warrant per common share at a strike price of C$0.40 with a term of five years.
In addition the Company intends to complete a concurrent additional private placement of up to C$2.5 million with certain other investors on the same economic terms.
As a result of the Private Placement, the EBRD will hold approximately 20% minus one share of the Company's issued and outstanding share capital on an undiluted basis. The EBRD has undertaken not to exercise any warrants if such exercise would result in it holding greater than 20% minus one share of the Company's issued and outstanding share capital on an undiluted basis.
The proceeds of the Private Placement satisfy one of the key conditions precedent to the receipt of the Initial Tranche of the US$175 million Streaming Agreement with RGLD AG, a wholly-owned subsidiary of Royal Gold, Inc ("Royal Gold") announced by the Company on 21st October 2014, and will be used to finance a part of the pre-development work program which includes preparation of the Definitive Feasibility Study (the "DFS") and Front End Engineering and Design work ("FEED") for the Company's Ilovitza copper-gold project in the Republic of Macedonia (the "Project"). The DFS and FEED package is a key part of the future development of the Ilovitza mine. As the package progresses the Company will continue to communicate with EBRD on elements of the development including key environmental and social issues.
The Private Placement is subject to the approval of the TSX Venture Exchange (the "TSXV"). Any securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day from the closing date of the Private Placement in accordance with applicable Canadian securities laws.
Appointment of Amec Foster Wheeler
After an exhaustive bidding process, the Company is pleased to announce that the DFS contract for the plant and mine infrastructure has been awarded to Amec Foster Wheeler, formerly Amec, who will commence work in the next week. Part of the bidding process also covered the FEED package and it is anticipated that Amec Foster Wheeler will be awarded this further FEED contract for the plant and mine infrastructure early in 2015.
Commenting on this announcement, Steve Sharpe, President & CEO said:
"We are delighted to welcome the EBRD onto our register as a shareholder. The EBRD has a significant presence both in Macedonia and the broader region and their participation, after extensive technical, environmental and social due diligence, is a further endorsement of the Ilovitza project. We have been trying to carve out a fairly unique path in the manner in which we are financing the development of Ilovitza, in the face of very challenging equity markets in the junior resource sector. The fact that we have been able to bring on board both Royal Gold and the EBRD not only adds significant credibility to our plans, but is also a notable de-risking factor in the development of Ilovitza."
The EBRD is acquiring the securities in the Private Placement for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of the Company or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with the Private Placement will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Masaliev at +44 207 338 7224 .
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements including but not limited to statements regarding the performance of the Company and its subsidiaries under a private placement and streaming agreement and the use of the financing toward to development and construction of the Ilovitza project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks and Uncertainties", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0) 20 3667 2970
ssharpe@euromaxresources.co.uk
Euromax Resources Ltd.
Varshan Gokool
CFO
+44 (0) 20 3667 2970
vgokool@euromaxresources.co.uk
Euromax Resources Ltd.
Karen Coke
Investor Relations Manager
+44 (0) 20 3667 2970
kcoke@euromaxresources.co.uk
Euromax Resources Ltd.
Tom Panoulias
North American Representative
+1 416 294 5649
tpanoulias@euromaxresources.co.uk
www.euromaxresources.com
Buchanan
Bobby Morse, Louise Mason
+44 (0) 20 7466 5000
bobbym@buchanan.uk.com / louisem@buchanan.uk.com
Euromax ist hochinteressant da das Management mit European Goldfields schon mal einen Volltreffer hin gelegt hat. Die scheinen es drauf zu haben.
Die gestrige news nach börsenschluss bestätigt das.. Der 2. Deal nach dem 170 Mio$-Deal mit Royal Gold.
Das da eine europäische Institution bei einem PP teilnimmt und nun 20% der Anreile hält ist schon aussergewöhnlich. Das Management scheint es zu verstehen Investoren zu finden.
Das Project an sich ist mit um die 300$ Cashkosten pro unzen nach Beiprodukten äusserst robust. Und auch in Schwächephasen bei Gold hochprofitabel.
Auffällig ist auch das die Aktie komplett ungehyped ist.. keine Sau scheibt bei Stockhouse oder sonstwo dazu .... ins Depot legen und später mit fetten Gewinn verkaufen würd ich sagen
..könnte mir gut vorstellen das Firmen wie Eldorado Gold welche sich mehr und mehr für Osteuropa interessieren dieses Projekt auf der Watchlist haben.... Hier die news von gestern:
Euromax Announces Non-Brokered Private Placement to the EBRD
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2014) - Euromax Resources Ltd. (TSX VENTURE:EOX)(OTC PINK:EOXFF): ("Euromax" or the "Company"), is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with the European Bank for Reconstruction and Development ("the EBRD") under a non-brokered private placement (the "Private Placement").
Under the terms of the Subscription Agreement, the EBRD will subscribe for common shares of the Company at a price of C$0.25 per common share for gross proceeds equal to the C$ equivalent of up to US$5 million and will receive a one-quarter warrant per common share at a strike price of C$0.40 with a term of five years.
In addition the Company intends to complete a concurrent additional private placement of up to C$2.5 million with certain other investors on the same economic terms.
As a result of the Private Placement, the EBRD will hold approximately 20% minus one share of the Company's issued and outstanding share capital on an undiluted basis. The EBRD has undertaken not to exercise any warrants if such exercise would result in it holding greater than 20% minus one share of the Company's issued and outstanding share capital on an undiluted basis.
The proceeds of the Private Placement satisfy one of the key conditions precedent to the receipt of the Initial Tranche of the US$175 million Streaming Agreement with RGLD AG, a wholly-owned subsidiary of Royal Gold, Inc ("Royal Gold") announced by the Company on 21st October 2014, and will be used to finance a part of the pre-development work program which includes preparation of the Definitive Feasibility Study (the "DFS") and Front End Engineering and Design work ("FEED") for the Company's Ilovitza copper-gold project in the Republic of Macedonia (the "Project"). The DFS and FEED package is a key part of the future development of the Ilovitza mine. As the package progresses the Company will continue to communicate with EBRD on elements of the development including key environmental and social issues.
The Private Placement is subject to the approval of the TSX Venture Exchange (the "TSXV"). Any securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day from the closing date of the Private Placement in accordance with applicable Canadian securities laws.
Appointment of Amec Foster Wheeler
After an exhaustive bidding process, the Company is pleased to announce that the DFS contract for the plant and mine infrastructure has been awarded to Amec Foster Wheeler, formerly Amec, who will commence work in the next week. Part of the bidding process also covered the FEED package and it is anticipated that Amec Foster Wheeler will be awarded this further FEED contract for the plant and mine infrastructure early in 2015.
Commenting on this announcement, Steve Sharpe, President & CEO said:
"We are delighted to welcome the EBRD onto our register as a shareholder. The EBRD has a significant presence both in Macedonia and the broader region and their participation, after extensive technical, environmental and social due diligence, is a further endorsement of the Ilovitza project. We have been trying to carve out a fairly unique path in the manner in which we are financing the development of Ilovitza, in the face of very challenging equity markets in the junior resource sector. The fact that we have been able to bring on board both Royal Gold and the EBRD not only adds significant credibility to our plans, but is also a notable de-risking factor in the development of Ilovitza."
The EBRD is acquiring the securities in the Private Placement for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of the Company or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with the Private Placement will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Masaliev at +44 207 338 7224 .
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements including but not limited to statements regarding the performance of the Company and its subsidiaries under a private placement and streaming agreement and the use of the financing toward to development and construction of the Ilovitza project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks and Uncertainties", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0) 20 3667 2970
ssharpe@euromaxresources.co.uk
Euromax Resources Ltd.
Varshan Gokool
CFO
+44 (0) 20 3667 2970
vgokool@euromaxresources.co.uk
Euromax Resources Ltd.
Karen Coke
Investor Relations Manager
+44 (0) 20 3667 2970
kcoke@euromaxresources.co.uk
Euromax Resources Ltd.
Tom Panoulias
North American Representative
+1 416 294 5649
tpanoulias@euromaxresources.co.uk
www.euromaxresources.com
Buchanan
Bobby Morse, Louise Mason
+44 (0) 20 7466 5000
bobbym@buchanan.uk.com / louisem@buchanan.uk.com
Placements geschlossen... Firma ist nun sehr solide mit Cash ausgestattet um bis Ende 2015 die BFS abzuliefern...
für mich ist diese Aktie minimum 5-fach zu billig...
für mich ist diese Aktie minimum 5-fach zu billig...
Trading Spotlight
May 1, 2015 - 3:12 AM EDT 
Euromax Announces In-Principle UFK Eligibility and Mandating of Societe Generale, UniCredit Bank and Caterpillar Financial to Arrange and Provide a Debt Package Totalling USD 240 Million
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2015) - Euromax Resources Ltd, ("Euromax" or the "Company"), - 1st May 2015 (TSX VENTURE:EOX)(OTC PINK:EOXFF): together with its wholly-owned subsidiary Euromax Resources DOO Skopje, is pleased to announce that it has:
Received UFK in-principle eligilibity, the German Untied Loan Guarantee Scheme (UFK - Garantien für Ungebundene Finanzkredite), to provide cover for a project finance facility on the assumption that a copper concentrate offtake agreement is entered into with a German owned smelter, (the "UFK Support");
Executed a Mandate Letter and Term Sheet with Société Générale S.A. and UniCredit Bank AG and Unicredit Bank Austria AG (together, the "Mandated Lead Arrangers") to provide up to USD 215 million of Senior Secured Project Finance, subject to due diligence and all necessary approvals, which shall be used to finance the development of the Ilovitza Project in Macedonia, (the "Project Facility");
Executed a Mandate Letter and Term Sheet with Caterpillar Financial ("Cat Financial") to arrange an equipment financing facility for up to USD 25 million, to finance any Cat equipment purchased for the Ilovitza Project in Macedonia, (the "Equipment Facility").
The UFK Support, Project Facility and Equipment Facility are based on the results of the Pre-Feasibility Study for the Ilovitza Project, announced by the Company in June 2014 and is designed to finance the Ilovitza Project alongside the USD 175 million Gold Streaming Agreement announced in October 2014.
The execution of the Mandate Letters will allow the Company to proceed with its plan of completing the required due diligence work required for the completion of the UFK Support, Project Facility and Equipment Facility, in parallel with the completion of the Ilovitza Definitive Feasbility Study which is currently underway. The completion of the Project Facility and Equipment Facility is subject to the Mandated Lead Arranger's and Cat Financial's completion of due diligence, including financial, legal, technical and environmental and social due diligence, credit approvals and the final provision of the UFK Support. The UFK Support is subject to further due diligence and approval by the German Government.
Key Terms of the Project Facility
Facility Amount of up to USD 215 million;
Tenor of up to 12 years, subject to the UFK Support;
Pre-completion Margin of 3.75% - 4.25%; Post-completion Margin of 2.75% - 3.25% above LIBOR;
Customary financial ratios, security, completion support and covenants for a facility of this nature.
Key Terms of the Equipment Facility
Facility Amount of up to USD 25 million;
Tenor of up to 5 years;
Margin of 4.50% - 5.50% above LIBOR;
Customary financial ratios, security, completion support and covenants for a facility of this nature.
The estimated timing for approvals and drawdown is anticipated to be as follows:
Up to Q4 2015 Technical, Environmental & Social, Legal and Financial due diligence
Q1 2016 Credit Approved Commitment Letters
Q1 2016 Completion and signing of UFK Support, Project Facility and Equipment Facility documentation
Q2 2016 Satisfaction of Conditions Precedent
Q3 2016 First Drawdown of Project Facility and Equipment Facility
Commenting on this announcement, Varshan Gokool, CFO of Euromax said:
"The signing of these Mandate Letters in combination with the UFK Support is a significant milestone in our financing plan and shows strong debt appetite for the Ilovitza project. These combined with the Royal Gold Agreement provide for USD 400 million of the funding towards the construction of Ilovitza. By mandating the banks early in the process, we will be able to run the due diligence process in parallel with the DFS/FEED so as to avoid any delays on receipt of the construction permit in 2016. With the envisaged support of the UFK, we have been able to achieve significant tenor of up to 12 years for the repayment of the loan, so our shareholders get the benefit of the increased gearing and maximises the Project's IRR."
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements including but not limited to statements regarding the performance of the Company and its subsidiaries under a streaming agreement, grant of security and the use of the financing toward the development and construction of the Ilovitza project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements including whether or not all conditions will be met for subsequent drawdowns.. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks and Uncertainties", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Euromax Resources Ltd
Steve Sharpe
President & CEO
+44 (0) 20 3667 2970
ssharpe@euromaxresources.co.uk
Euromax Resources Ltd
Varshan Gokool
CFO
+44 (0) 20 3667 2970
vgokool@euromaxresources.co.uk
www.euromaxresources.com
Source: Marketwired (May 1, 2015 - 3:12 AM EDT)
News by QuoteMedia
Euromax Announces In-Principle UFK Eligibility and Mandating of Societe Generale, UniCredit Bank and Caterpillar Financial to Arrange and Provide a Debt Package Totalling USD 240 Million
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2015) - Euromax Resources Ltd, ("Euromax" or the "Company"), - 1st May 2015 (TSX VENTURE:EOX)(OTC PINK:EOXFF): together with its wholly-owned subsidiary Euromax Resources DOO Skopje, is pleased to announce that it has:
Received UFK in-principle eligilibity, the German Untied Loan Guarantee Scheme (UFK - Garantien für Ungebundene Finanzkredite), to provide cover for a project finance facility on the assumption that a copper concentrate offtake agreement is entered into with a German owned smelter, (the "UFK Support");
Executed a Mandate Letter and Term Sheet with Société Générale S.A. and UniCredit Bank AG and Unicredit Bank Austria AG (together, the "Mandated Lead Arrangers") to provide up to USD 215 million of Senior Secured Project Finance, subject to due diligence and all necessary approvals, which shall be used to finance the development of the Ilovitza Project in Macedonia, (the "Project Facility");
Executed a Mandate Letter and Term Sheet with Caterpillar Financial ("Cat Financial") to arrange an equipment financing facility for up to USD 25 million, to finance any Cat equipment purchased for the Ilovitza Project in Macedonia, (the "Equipment Facility").
The UFK Support, Project Facility and Equipment Facility are based on the results of the Pre-Feasibility Study for the Ilovitza Project, announced by the Company in June 2014 and is designed to finance the Ilovitza Project alongside the USD 175 million Gold Streaming Agreement announced in October 2014.
The execution of the Mandate Letters will allow the Company to proceed with its plan of completing the required due diligence work required for the completion of the UFK Support, Project Facility and Equipment Facility, in parallel with the completion of the Ilovitza Definitive Feasbility Study which is currently underway. The completion of the Project Facility and Equipment Facility is subject to the Mandated Lead Arranger's and Cat Financial's completion of due diligence, including financial, legal, technical and environmental and social due diligence, credit approvals and the final provision of the UFK Support. The UFK Support is subject to further due diligence and approval by the German Government.
Key Terms of the Project Facility
Facility Amount of up to USD 215 million;
Tenor of up to 12 years, subject to the UFK Support;
Pre-completion Margin of 3.75% - 4.25%; Post-completion Margin of 2.75% - 3.25% above LIBOR;
Customary financial ratios, security, completion support and covenants for a facility of this nature.
Key Terms of the Equipment Facility
Facility Amount of up to USD 25 million;
Tenor of up to 5 years;
Margin of 4.50% - 5.50% above LIBOR;
Customary financial ratios, security, completion support and covenants for a facility of this nature.
The estimated timing for approvals and drawdown is anticipated to be as follows:
Up to Q4 2015 Technical, Environmental & Social, Legal and Financial due diligence
Q1 2016 Credit Approved Commitment Letters
Q1 2016 Completion and signing of UFK Support, Project Facility and Equipment Facility documentation
Q2 2016 Satisfaction of Conditions Precedent
Q3 2016 First Drawdown of Project Facility and Equipment Facility
Commenting on this announcement, Varshan Gokool, CFO of Euromax said:
"The signing of these Mandate Letters in combination with the UFK Support is a significant milestone in our financing plan and shows strong debt appetite for the Ilovitza project. These combined with the Royal Gold Agreement provide for USD 400 million of the funding towards the construction of Ilovitza. By mandating the banks early in the process, we will be able to run the due diligence process in parallel with the DFS/FEED so as to avoid any delays on receipt of the construction permit in 2016. With the envisaged support of the UFK, we have been able to achieve significant tenor of up to 12 years for the repayment of the loan, so our shareholders get the benefit of the increased gearing and maximises the Project's IRR."
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements including but not limited to statements regarding the performance of the Company and its subsidiaries under a streaming agreement, grant of security and the use of the financing toward the development and construction of the Ilovitza project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements including whether or not all conditions will be met for subsequent drawdowns.. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks and Uncertainties", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Euromax Resources Ltd
Steve Sharpe
President & CEO
+44 (0) 20 3667 2970
ssharpe@euromaxresources.co.uk
Euromax Resources Ltd
Varshan Gokool
CFO
+44 (0) 20 3667 2970
vgokool@euromaxresources.co.uk
www.euromaxresources.com
Source: Marketwired (May 1, 2015 - 3:12 AM EDT)
News by QuoteMedia
und weiter gehts... hier entsteht etwas grossartiges!
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2016) - Euromax Resources Ltd. - (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that it has entered into a convertible loan agreement (the "Convertible Loan Agreement") with the European Bank for Reconstruction and Development (the "EBRD") for an investment of US$5 million in respect of funding of the ongoing pre-development of the Ilovica project in the FYR Macedonia.
Euromax is also pleased to announce that it has also entered into definitive transaction documentation for a convertible loan of C$5.2 million, as the first tranche of a proposed investment of up to US$30 million and a strategic alliance with CC Mining S.A. ("CCM") which is related to Consolidated Contractors Company Group ("CCC Group"), as previously announced on 8 April 2016.
Euromax also announces the appointment of Peel Hunt LLP as its European Broker. The appointment will encompass working in collaboration with the Company's brokers in North America to support an intensive marketing programme over the coming year aimed at raising awareness of the Company and the Ilovica Project.
EBRD Convertible Loan
Under the Convertible Loan Agreement, the EBRD has agreed, subject to receipt of Shareholder Consent (as defined below) that it will fund US$5 million (the "Principal Amount") in the form of a convertible loan (the "EBRD Convertible Loan"). The EBRD Convertible Loan has a stated maturity of 30 April 2018, or if earlier, upon an equity raise by Euromax of an agreed amount. Upon maturity of the EBRD Convertible Loan, in addition to repayment of the Principal Amount, Euromax will be required to pay an amount of approximately US$1.4 million (the "Redemption Amount"). The EBRD Convertible Loan also contains provisions whereby, in the event that the Company has not secured sufficient financing commitments for the construction and development of the Ilovica Project by 31 December 2016, a fee of US$0.15 million (the "Fee") will become payable and interest will accrue on the loan from 1 January 2017 until maturity at an annual rate of 3 month LIBOR plus 7% per annum ("Interest").
The EBRD Convertible Loan will be convertible in whole or in part at any time following disbursement, at the election of EBRD; the Principal Amount will be convertible at C$0.40 per share whereas the Redemption Amount, as well as, if applicable, the Fee and Interest, will be convertible at the lower of (i) the market price of the shares of the Company on the last day prior to EBRD serving a conversion notice; and (ii) the 20-day volume weighted average price of the common shares preceding such date, in each case discounted as permitted by the TSX Venture Exchange ("TSX-V") and subject to TSX-V acceptance. Conversion of any part of the Principal Amount, the Redemption Amount, the Interest and the Fee will always remain at EBRD's full discretion subject to the above provisions and any necessary TSX-V approvals.
Disbursement of the EBRD Convertible Loan is conditional on, amongst other things, receipt of written consent by no later than 30 June 2016 from the holders of at least 50% of the outstanding common shares of the Company, (the "Shares") other than those shares held by EBRD, with respect to the terms of the Convertible Loan Agreement, and for EBRD to become a "control person" (as defined under the rules of the TSX-V, the "Shareholder Consent").
Assuming a disbursement date of 1 July 2016, a maturity date of 30 April 2018, a conversion by EBRD of all of the Principal Amount, Redemption Amount, and, if applicable, the Fee and the Interest accrued to maturity, a conversion price for all amounts under the Convertible Loan Agreement of C$0.40 per share, and using a Bank of Canada noon rate on 27 April 2016, EBRD would acquire ownership and control over a total of 22,444,242 common shares of Euromax, representing 16.11% of the issued and outstanding common shares. Immediately following such a conversion, together with the common shares of the Company already owned by EBRD and assuming conversion of the warrants of the Company held by EBRD, EBRD would have ownership and control over 51,727,789 common shares of Euromax, representing 35.62% of the issued and outstanding common shares.
The EBRD, One Exchange Square, London, EC2A 2JN. United Kingdom, is entering into the Convertible Loan for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of Euromax or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with this transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Musaliev at +44 207 338 7224.
CCC Investment and Strategic Relationship
Euromax has also entered into definitive transaction documentation with CCM, an entity related to the CCC Group in respect of the first tranche of the proposed investment of up to US$30 million, as previously announced on 8 April 2016 . The Primary Convertible Loan Tranche, (as defined below), will encompass a C$ 5.2 million subscription by CCM for a convertible debenture to be issued by the Company (the "Primary Convertible Loan Tranche"). The Primary Convertible Loan Tranche will have a maturity of 30 April 2018 and may be converted into common shares of Euromax at a price of C$0.40 per share. The Primary Convertible Loan Tranche will bear interest at a rate 9% per annum.
Upon subscription of the Primary Convertible Loan Tranche and for so long as CCM beneficially owns more than 5% of the outstanding Euromax common shares (and for these purposes, any remaining portion of the Convertible Loan then outstanding will be deemed to have been converted in full into common shares pursuant to the terms of the Convertible Loan):
CCM shall be entitled to nominate a director to the board of Euromax (subject to such nominee satisfying the qualification requirements under the TSX-V and Euromax's governing statute and articles and being approved by the board and shareholders of Euromax); and
CCM shall also be entitled to appoint a member to the Euromax Technical Committee to assist in the front-end-engineering design process and the development of the Project.
Use of Proceeds
The proceeds of the EBRD Convertible Loan and the CCM Primary Convertible Loan Tranche will be used to fund pre-development work, including feasibility, capex, optimisation and the preparation of the front-end engineering design ("FEED").
Conditions and Closing
The EBRD investment and the CCC investment are subject to approval of the TSX-V and satisfaction of customary closing conditions. All securities issued pursuant to the private placements described herein will be subject to a four month hold period from the date of issue.
It is anticipated that closing of the EBRD and CCC investment will occur on or around 12th May 2016.
Broker Appointment
The Company has appointed Peel Hunt LLP as the Company's European Broker, alongside its North American Brokers and Advisors. Under the appointment Peel Hunt LLP will be entitled to a fee for its services of £45,000 per annum. The appointment is subject to the approval of the TSX Venture Exchange.
About Euromax Resources Ltd.
Euromax has a major development project in FYR Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in FYR Macedonia, as well as profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Forward-Looking Information
This news release contains forward-looking statements including but not limited to statements regarding a Convertible Loan with the EBRD and a funding package with CCC Group and the terms thereof, and the expected use of proceeds thereof. In certain cases, forward-looking information may be identified by such terms as "proposed", "expects", "may", "shall", "will", or "would'. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company including, with respect to mineral resource estimates, that the key assumptions and parameters on which such geological interpretations are based are reasonable, that the Company will be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities, that the Company's objectives concerning the Ilovica project can be achieved and that the Company's activities will proceed as expected, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange for the the Convertible Loan with the EBRD, the funding package with the CCC Group and the satisfaction of all conditions precedent thereto respectively.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates, actual results of exploration activities will be different than anticipated, data and assumptions underlying the geological interpretations may prove to be inaccurate, incomplete or to have been incorrectly interpreted, that the Company will not be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks", which documents describe material factors and assumptions and risks that apply to the forward looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0)20 3667 2970
ssharpe@euromaxresources.co.uk
www.euromaxresources.com
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2016) - Euromax Resources Ltd. - (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that it has entered into a convertible loan agreement (the "Convertible Loan Agreement") with the European Bank for Reconstruction and Development (the "EBRD") for an investment of US$5 million in respect of funding of the ongoing pre-development of the Ilovica project in the FYR Macedonia.
Euromax is also pleased to announce that it has also entered into definitive transaction documentation for a convertible loan of C$5.2 million, as the first tranche of a proposed investment of up to US$30 million and a strategic alliance with CC Mining S.A. ("CCM") which is related to Consolidated Contractors Company Group ("CCC Group"), as previously announced on 8 April 2016.
Euromax also announces the appointment of Peel Hunt LLP as its European Broker. The appointment will encompass working in collaboration with the Company's brokers in North America to support an intensive marketing programme over the coming year aimed at raising awareness of the Company and the Ilovica Project.
EBRD Convertible Loan
Under the Convertible Loan Agreement, the EBRD has agreed, subject to receipt of Shareholder Consent (as defined below) that it will fund US$5 million (the "Principal Amount") in the form of a convertible loan (the "EBRD Convertible Loan"). The EBRD Convertible Loan has a stated maturity of 30 April 2018, or if earlier, upon an equity raise by Euromax of an agreed amount. Upon maturity of the EBRD Convertible Loan, in addition to repayment of the Principal Amount, Euromax will be required to pay an amount of approximately US$1.4 million (the "Redemption Amount"). The EBRD Convertible Loan also contains provisions whereby, in the event that the Company has not secured sufficient financing commitments for the construction and development of the Ilovica Project by 31 December 2016, a fee of US$0.15 million (the "Fee") will become payable and interest will accrue on the loan from 1 January 2017 until maturity at an annual rate of 3 month LIBOR plus 7% per annum ("Interest").
The EBRD Convertible Loan will be convertible in whole or in part at any time following disbursement, at the election of EBRD; the Principal Amount will be convertible at C$0.40 per share whereas the Redemption Amount, as well as, if applicable, the Fee and Interest, will be convertible at the lower of (i) the market price of the shares of the Company on the last day prior to EBRD serving a conversion notice; and (ii) the 20-day volume weighted average price of the common shares preceding such date, in each case discounted as permitted by the TSX Venture Exchange ("TSX-V") and subject to TSX-V acceptance. Conversion of any part of the Principal Amount, the Redemption Amount, the Interest and the Fee will always remain at EBRD's full discretion subject to the above provisions and any necessary TSX-V approvals.
Disbursement of the EBRD Convertible Loan is conditional on, amongst other things, receipt of written consent by no later than 30 June 2016 from the holders of at least 50% of the outstanding common shares of the Company, (the "Shares") other than those shares held by EBRD, with respect to the terms of the Convertible Loan Agreement, and for EBRD to become a "control person" (as defined under the rules of the TSX-V, the "Shareholder Consent").
Assuming a disbursement date of 1 July 2016, a maturity date of 30 April 2018, a conversion by EBRD of all of the Principal Amount, Redemption Amount, and, if applicable, the Fee and the Interest accrued to maturity, a conversion price for all amounts under the Convertible Loan Agreement of C$0.40 per share, and using a Bank of Canada noon rate on 27 April 2016, EBRD would acquire ownership and control over a total of 22,444,242 common shares of Euromax, representing 16.11% of the issued and outstanding common shares. Immediately following such a conversion, together with the common shares of the Company already owned by EBRD and assuming conversion of the warrants of the Company held by EBRD, EBRD would have ownership and control over 51,727,789 common shares of Euromax, representing 35.62% of the issued and outstanding common shares.
The EBRD, One Exchange Square, London, EC2A 2JN. United Kingdom, is entering into the Convertible Loan for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of Euromax or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with this transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Musaliev at +44 207 338 7224.
CCC Investment and Strategic Relationship
Euromax has also entered into definitive transaction documentation with CCM, an entity related to the CCC Group in respect of the first tranche of the proposed investment of up to US$30 million, as previously announced on 8 April 2016 . The Primary Convertible Loan Tranche, (as defined below), will encompass a C$ 5.2 million subscription by CCM for a convertible debenture to be issued by the Company (the "Primary Convertible Loan Tranche"). The Primary Convertible Loan Tranche will have a maturity of 30 April 2018 and may be converted into common shares of Euromax at a price of C$0.40 per share. The Primary Convertible Loan Tranche will bear interest at a rate 9% per annum.
Upon subscription of the Primary Convertible Loan Tranche and for so long as CCM beneficially owns more than 5% of the outstanding Euromax common shares (and for these purposes, any remaining portion of the Convertible Loan then outstanding will be deemed to have been converted in full into common shares pursuant to the terms of the Convertible Loan):
CCM shall be entitled to nominate a director to the board of Euromax (subject to such nominee satisfying the qualification requirements under the TSX-V and Euromax's governing statute and articles and being approved by the board and shareholders of Euromax); and
CCM shall also be entitled to appoint a member to the Euromax Technical Committee to assist in the front-end-engineering design process and the development of the Project.
Use of Proceeds
The proceeds of the EBRD Convertible Loan and the CCM Primary Convertible Loan Tranche will be used to fund pre-development work, including feasibility, capex, optimisation and the preparation of the front-end engineering design ("FEED").
Conditions and Closing
The EBRD investment and the CCC investment are subject to approval of the TSX-V and satisfaction of customary closing conditions. All securities issued pursuant to the private placements described herein will be subject to a four month hold period from the date of issue.
It is anticipated that closing of the EBRD and CCC investment will occur on or around 12th May 2016.
Broker Appointment
The Company has appointed Peel Hunt LLP as the Company's European Broker, alongside its North American Brokers and Advisors. Under the appointment Peel Hunt LLP will be entitled to a fee for its services of £45,000 per annum. The appointment is subject to the approval of the TSX Venture Exchange.
About Euromax Resources Ltd.
Euromax has a major development project in FYR Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in FYR Macedonia, as well as profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Forward-Looking Information
This news release contains forward-looking statements including but not limited to statements regarding a Convertible Loan with the EBRD and a funding package with CCC Group and the terms thereof, and the expected use of proceeds thereof. In certain cases, forward-looking information may be identified by such terms as "proposed", "expects", "may", "shall", "will", or "would'. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company including, with respect to mineral resource estimates, that the key assumptions and parameters on which such geological interpretations are based are reasonable, that the Company will be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities, that the Company's objectives concerning the Ilovica project can be achieved and that the Company's activities will proceed as expected, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange for the the Convertible Loan with the EBRD, the funding package with the CCC Group and the satisfaction of all conditions precedent thereto respectively.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates, actual results of exploration activities will be different than anticipated, data and assumptions underlying the geological interpretations may prove to be inaccurate, incomplete or to have been incorrectly interpreted, that the Company will not be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks", which documents describe material factors and assumptions and risks that apply to the forward looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0)20 3667 2970
ssharpe@euromaxresources.co.uk
www.euromaxresources.com
und weiter gehts... hier entsteht etwas grossartiges!
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2016) - Euromax Resources Ltd. - (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that it has entered into a convertible loan agreement (the "Convertible Loan Agreement") with the European Bank for Reconstruction and Development (the "EBRD") for an investment of US$5 million in respect of funding of the ongoing pre-development of the Ilovica project in the FYR Macedonia.
Euromax is also pleased to announce that it has also entered into definitive transaction documentation for a convertible loan of C$5.2 million, as the first tranche of a proposed investment of up to US$30 million and a strategic alliance with CC Mining S.A. ("CCM") which is related to Consolidated Contractors Company Group ("CCC Group"), as previously announced on 8 April 2016.
Euromax also announces the appointment of Peel Hunt LLP as its European Broker. The appointment will encompass working in collaboration with the Company's brokers in North America to support an intensive marketing programme over the coming year aimed at raising awareness of the Company and the Ilovica Project.
EBRD Convertible Loan
Under the Convertible Loan Agreement, the EBRD has agreed, subject to receipt of Shareholder Consent (as defined below) that it will fund US$5 million (the "Principal Amount") in the form of a convertible loan (the "EBRD Convertible Loan"). The EBRD Convertible Loan has a stated maturity of 30 April 2018, or if earlier, upon an equity raise by Euromax of an agreed amount. Upon maturity of the EBRD Convertible Loan, in addition to repayment of the Principal Amount, Euromax will be required to pay an amount of approximately US$1.4 million (the "Redemption Amount"). The EBRD Convertible Loan also contains provisions whereby, in the event that the Company has not secured sufficient financing commitments for the construction and development of the Ilovica Project by 31 December 2016, a fee of US$0.15 million (the "Fee") will become payable and interest will accrue on the loan from 1 January 2017 until maturity at an annual rate of 3 month LIBOR plus 7% per annum ("Interest").
The EBRD Convertible Loan will be convertible in whole or in part at any time following disbursement, at the election of EBRD; the Principal Amount will be convertible at C$0.40 per share whereas the Redemption Amount, as well as, if applicable, the Fee and Interest, will be convertible at the lower of (i) the market price of the shares of the Company on the last day prior to EBRD serving a conversion notice; and (ii) the 20-day volume weighted average price of the common shares preceding such date, in each case discounted as permitted by the TSX Venture Exchange ("TSX-V") and subject to TSX-V acceptance. Conversion of any part of the Principal Amount, the Redemption Amount, the Interest and the Fee will always remain at EBRD's full discretion subject to the above provisions and any necessary TSX-V approvals.
Disbursement of the EBRD Convertible Loan is conditional on, amongst other things, receipt of written consent by no later than 30 June 2016 from the holders of at least 50% of the outstanding common shares of the Company, (the "Shares") other than those shares held by EBRD, with respect to the terms of the Convertible Loan Agreement, and for EBRD to become a "control person" (as defined under the rules of the TSX-V, the "Shareholder Consent").
Assuming a disbursement date of 1 July 2016, a maturity date of 30 April 2018, a conversion by EBRD of all of the Principal Amount, Redemption Amount, and, if applicable, the Fee and the Interest accrued to maturity, a conversion price for all amounts under the Convertible Loan Agreement of C$0.40 per share, and using a Bank of Canada noon rate on 27 April 2016, EBRD would acquire ownership and control over a total of 22,444,242 common shares of Euromax, representing 16.11% of the issued and outstanding common shares. Immediately following such a conversion, together with the common shares of the Company already owned by EBRD and assuming conversion of the warrants of the Company held by EBRD, EBRD would have ownership and control over 51,727,789 common shares of Euromax, representing 35.62% of the issued and outstanding common shares.
The EBRD, One Exchange Square, London, EC2A 2JN. United Kingdom, is entering into the Convertible Loan for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of Euromax or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with this transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Musaliev at +44 207 338 7224.
CCC Investment and Strategic Relationship
Euromax has also entered into definitive transaction documentation with CCM, an entity related to the CCC Group in respect of the first tranche of the proposed investment of up to US$30 million, as previously announced on 8 April 2016 . The Primary Convertible Loan Tranche, (as defined below), will encompass a C$ 5.2 million subscription by CCM for a convertible debenture to be issued by the Company (the "Primary Convertible Loan Tranche"). The Primary Convertible Loan Tranche will have a maturity of 30 April 2018 and may be converted into common shares of Euromax at a price of C$0.40 per share. The Primary Convertible Loan Tranche will bear interest at a rate 9% per annum.
Upon subscription of the Primary Convertible Loan Tranche and for so long as CCM beneficially owns more than 5% of the outstanding Euromax common shares (and for these purposes, any remaining portion of the Convertible Loan then outstanding will be deemed to have been converted in full into common shares pursuant to the terms of the Convertible Loan):
CCM shall be entitled to nominate a director to the board of Euromax (subject to such nominee satisfying the qualification requirements under the TSX-V and Euromax's governing statute and articles and being approved by the board and shareholders of Euromax); and
CCM shall also be entitled to appoint a member to the Euromax Technical Committee to assist in the front-end-engineering design process and the development of the Project.
Use of Proceeds
The proceeds of the EBRD Convertible Loan and the CCM Primary Convertible Loan Tranche will be used to fund pre-development work, including feasibility, capex, optimisation and the preparation of the front-end engineering design ("FEED").
Conditions and Closing
The EBRD investment and the CCC investment are subject to approval of the TSX-V and satisfaction of customary closing conditions. All securities issued pursuant to the private placements described herein will be subject to a four month hold period from the date of issue.
It is anticipated that closing of the EBRD and CCC investment will occur on or around 12th May 2016.
Broker Appointment
The Company has appointed Peel Hunt LLP as the Company's European Broker, alongside its North American Brokers and Advisors. Under the appointment Peel Hunt LLP will be entitled to a fee for its services of £45,000 per annum. The appointment is subject to the approval of the TSX Venture Exchange.
About Euromax Resources Ltd.
Euromax has a major development project in FYR Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in FYR Macedonia, as well as profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Forward-Looking Information
This news release contains forward-looking statements including but not limited to statements regarding a Convertible Loan with the EBRD and a funding package with CCC Group and the terms thereof, and the expected use of proceeds thereof. In certain cases, forward-looking information may be identified by such terms as "proposed", "expects", "may", "shall", "will", or "would'. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company including, with respect to mineral resource estimates, that the key assumptions and parameters on which such geological interpretations are based are reasonable, that the Company will be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities, that the Company's objectives concerning the Ilovica project can be achieved and that the Company's activities will proceed as expected, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange for the the Convertible Loan with the EBRD, the funding package with the CCC Group and the satisfaction of all conditions precedent thereto respectively.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates, actual results of exploration activities will be different than anticipated, data and assumptions underlying the geological interpretations may prove to be inaccurate, incomplete or to have been incorrectly interpreted, that the Company will not be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks", which documents describe material factors and assumptions and risks that apply to the forward looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0)20 3667 2970
ssharpe@euromaxresources.co.uk
www.euromaxresources.com
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2016) - Euromax Resources Ltd. - (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that it has entered into a convertible loan agreement (the "Convertible Loan Agreement") with the European Bank for Reconstruction and Development (the "EBRD") for an investment of US$5 million in respect of funding of the ongoing pre-development of the Ilovica project in the FYR Macedonia.
Euromax is also pleased to announce that it has also entered into definitive transaction documentation for a convertible loan of C$5.2 million, as the first tranche of a proposed investment of up to US$30 million and a strategic alliance with CC Mining S.A. ("CCM") which is related to Consolidated Contractors Company Group ("CCC Group"), as previously announced on 8 April 2016.
Euromax also announces the appointment of Peel Hunt LLP as its European Broker. The appointment will encompass working in collaboration with the Company's brokers in North America to support an intensive marketing programme over the coming year aimed at raising awareness of the Company and the Ilovica Project.
EBRD Convertible Loan
Under the Convertible Loan Agreement, the EBRD has agreed, subject to receipt of Shareholder Consent (as defined below) that it will fund US$5 million (the "Principal Amount") in the form of a convertible loan (the "EBRD Convertible Loan"). The EBRD Convertible Loan has a stated maturity of 30 April 2018, or if earlier, upon an equity raise by Euromax of an agreed amount. Upon maturity of the EBRD Convertible Loan, in addition to repayment of the Principal Amount, Euromax will be required to pay an amount of approximately US$1.4 million (the "Redemption Amount"). The EBRD Convertible Loan also contains provisions whereby, in the event that the Company has not secured sufficient financing commitments for the construction and development of the Ilovica Project by 31 December 2016, a fee of US$0.15 million (the "Fee") will become payable and interest will accrue on the loan from 1 January 2017 until maturity at an annual rate of 3 month LIBOR plus 7% per annum ("Interest").
The EBRD Convertible Loan will be convertible in whole or in part at any time following disbursement, at the election of EBRD; the Principal Amount will be convertible at C$0.40 per share whereas the Redemption Amount, as well as, if applicable, the Fee and Interest, will be convertible at the lower of (i) the market price of the shares of the Company on the last day prior to EBRD serving a conversion notice; and (ii) the 20-day volume weighted average price of the common shares preceding such date, in each case discounted as permitted by the TSX Venture Exchange ("TSX-V") and subject to TSX-V acceptance. Conversion of any part of the Principal Amount, the Redemption Amount, the Interest and the Fee will always remain at EBRD's full discretion subject to the above provisions and any necessary TSX-V approvals.
Disbursement of the EBRD Convertible Loan is conditional on, amongst other things, receipt of written consent by no later than 30 June 2016 from the holders of at least 50% of the outstanding common shares of the Company, (the "Shares") other than those shares held by EBRD, with respect to the terms of the Convertible Loan Agreement, and for EBRD to become a "control person" (as defined under the rules of the TSX-V, the "Shareholder Consent").
Assuming a disbursement date of 1 July 2016, a maturity date of 30 April 2018, a conversion by EBRD of all of the Principal Amount, Redemption Amount, and, if applicable, the Fee and the Interest accrued to maturity, a conversion price for all amounts under the Convertible Loan Agreement of C$0.40 per share, and using a Bank of Canada noon rate on 27 April 2016, EBRD would acquire ownership and control over a total of 22,444,242 common shares of Euromax, representing 16.11% of the issued and outstanding common shares. Immediately following such a conversion, together with the common shares of the Company already owned by EBRD and assuming conversion of the warrants of the Company held by EBRD, EBRD would have ownership and control over 51,727,789 common shares of Euromax, representing 35.62% of the issued and outstanding common shares.
The EBRD, One Exchange Square, London, EC2A 2JN. United Kingdom, is entering into the Convertible Loan for investment purposes. Depending on market conditions and other factors, the EBRD may from time to time acquire and/or dispose of securities of Euromax or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commissions in connection with this transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Ulmas Musaliev at +44 207 338 7224.
CCC Investment and Strategic Relationship
Euromax has also entered into definitive transaction documentation with CCM, an entity related to the CCC Group in respect of the first tranche of the proposed investment of up to US$30 million, as previously announced on 8 April 2016 . The Primary Convertible Loan Tranche, (as defined below), will encompass a C$ 5.2 million subscription by CCM for a convertible debenture to be issued by the Company (the "Primary Convertible Loan Tranche"). The Primary Convertible Loan Tranche will have a maturity of 30 April 2018 and may be converted into common shares of Euromax at a price of C$0.40 per share. The Primary Convertible Loan Tranche will bear interest at a rate 9% per annum.
Upon subscription of the Primary Convertible Loan Tranche and for so long as CCM beneficially owns more than 5% of the outstanding Euromax common shares (and for these purposes, any remaining portion of the Convertible Loan then outstanding will be deemed to have been converted in full into common shares pursuant to the terms of the Convertible Loan):
CCM shall be entitled to nominate a director to the board of Euromax (subject to such nominee satisfying the qualification requirements under the TSX-V and Euromax's governing statute and articles and being approved by the board and shareholders of Euromax); and
CCM shall also be entitled to appoint a member to the Euromax Technical Committee to assist in the front-end-engineering design process and the development of the Project.
Use of Proceeds
The proceeds of the EBRD Convertible Loan and the CCM Primary Convertible Loan Tranche will be used to fund pre-development work, including feasibility, capex, optimisation and the preparation of the front-end engineering design ("FEED").
Conditions and Closing
The EBRD investment and the CCC investment are subject to approval of the TSX-V and satisfaction of customary closing conditions. All securities issued pursuant to the private placements described herein will be subject to a four month hold period from the date of issue.
It is anticipated that closing of the EBRD and CCC investment will occur on or around 12th May 2016.
Broker Appointment
The Company has appointed Peel Hunt LLP as the Company's European Broker, alongside its North American Brokers and Advisors. Under the appointment Peel Hunt LLP will be entitled to a fee for its services of £45,000 per annum. The appointment is subject to the approval of the TSX Venture Exchange.
About Euromax Resources Ltd.
Euromax has a major development project in FYR Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in FYR Macedonia, as well as profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Forward-Looking Information
This news release contains forward-looking statements including but not limited to statements regarding a Convertible Loan with the EBRD and a funding package with CCC Group and the terms thereof, and the expected use of proceeds thereof. In certain cases, forward-looking information may be identified by such terms as "proposed", "expects", "may", "shall", "will", or "would'. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company including, with respect to mineral resource estimates, that the key assumptions and parameters on which such geological interpretations are based are reasonable, that the Company will be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities, that the Company's objectives concerning the Ilovica project can be achieved and that the Company's activities will proceed as expected, the receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange for the the Convertible Loan with the EBRD, the funding package with the CCC Group and the satisfaction of all conditions precedent thereto respectively.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates, actual results of exploration activities will be different than anticipated, data and assumptions underlying the geological interpretations may prove to be inaccurate, incomplete or to have been incorrectly interpreted, that the Company will not be able to obtain the necessary supplies, equipment, personnel and any financing required to carry out its planned activities. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks", which documents describe material factors and assumptions and risks that apply to the forward looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Euromax Resources Ltd.
Steve Sharpe
President & CEO
+44 (0)20 3667 2970
ssharpe@euromaxresources.co.uk
www.euromaxresources.com
hier wirds die kommenden Monate extrem spannend werden...
im Juli steht das Listing an der Börse Toronto (Mainboard) an....
nach den letzten Finanzierungsrunden ist das Projekt von Euromax so gut wie durchfinanziert.. man bedenke das Euromax gerade mal mit 60 mio USD bewertet ist und das Project extrem niedrige Cashkosten ausweisen wird. Gerstern bestätigte man das das Kreditangebot über ein deutsches Institut weiterhin steht... inklusive dem Sreamingdeal und der anderen Teilfinanzierungen steht der Konstruktion von Ilovitza nix mehr im Wege...
Das management besteht aus extrem fähigen leuten welche European Goldfields grossgemacht und erfolgreich an EldoradoGold verkauft haben.....
die nächsten Schritte sind das listing am Mainboard in Toronto , die finale bankable Feasibility Study , Abschluss der Finanzierung und danach die Konstruktionsentscheidung... alles wird noch in diesem jahr passieren...
ich sehe hier eine Chance von 100-200% gesehen auf die nächsten 2 jahre
http://www.euromaxresources.com/media/107238/corporate_prese…
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 14, 2016) - Euromax Resources Ltd. (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that, following a formal application by Unicredit Bank AG in its capacity as UFK-Agent for a Project Finance Facility for the construction and development of Euromax's Ilovica Project in Macedonia, the German Government has reconfirmed the in principle eligibility for a Project Finance Facility in the amount of US$ 240 million under the UFK German Untied Loan Guarantee Scheme (UFK- Garantien für Ungebundene Finanzkredite).
A first assessment was undertaken by PWC in its capacity as Mandated Manager of the UFK Untied Loan Guarante Scheme on behalf of the Federal Republic of Germany, and builds upon the UFK in principle eligibility previously announced on 16 February 2015.
The aimed confirmation of UFK Cover, which remains subject to final due diligence and approval, will follow an assessment by PWC of, inter alia, the Ilovica Feasibility Study, the Environmental & Social Due Diligence Report and the terms of a 10 year Copper Concentrate Offtake Agreement between Euromax and Aurubis AG (as previously announced on 8 Dec 2015).
Commenting on this announcement, Steven Sharpe, President & CEO stated: "This reconfirmation of the in principle eligibility from the German Government is a resounding endorsement of Euromax, the Ilovica Project and Macedonia as an investment destination. From a financial perspective, the potential UFK cover allows us access to 12 year project financing, which is highly beneficial for a project of the magnitude and longevity of ilovica."
BACKGROUND ON THE UFK SCHEME
The German Federal Government provides UFK coverage in form of loan guarantees for the financing of eligible projects. An Untied Loan Guarantee insures project's lenders against losses incurred due to commercial and political risks.
Eligible projects contribute to the supply of critical natural resources to Germany in form of long-term off-take contracts between the borrower and German off-takers. The project has to be economically viable and comply with international environmental and social standards (e.g. Equator Principles).
More information on the UFK Scheme is available at: http://www.agaportal.de/en/ufk/index.html
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
im Juli steht das Listing an der Börse Toronto (Mainboard) an....
nach den letzten Finanzierungsrunden ist das Projekt von Euromax so gut wie durchfinanziert.. man bedenke das Euromax gerade mal mit 60 mio USD bewertet ist und das Project extrem niedrige Cashkosten ausweisen wird. Gerstern bestätigte man das das Kreditangebot über ein deutsches Institut weiterhin steht... inklusive dem Sreamingdeal und der anderen Teilfinanzierungen steht der Konstruktion von Ilovitza nix mehr im Wege...
Das management besteht aus extrem fähigen leuten welche European Goldfields grossgemacht und erfolgreich an EldoradoGold verkauft haben.....
die nächsten Schritte sind das listing am Mainboard in Toronto , die finale bankable Feasibility Study , Abschluss der Finanzierung und danach die Konstruktionsentscheidung... alles wird noch in diesem jahr passieren...
ich sehe hier eine Chance von 100-200% gesehen auf die nächsten 2 jahre
http://www.euromaxresources.com/media/107238/corporate_prese…
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 14, 2016) - Euromax Resources Ltd. (TSX VENTURE:EOX): ("Euromax" or the "Company"), is pleased to announce that, following a formal application by Unicredit Bank AG in its capacity as UFK-Agent for a Project Finance Facility for the construction and development of Euromax's Ilovica Project in Macedonia, the German Government has reconfirmed the in principle eligibility for a Project Finance Facility in the amount of US$ 240 million under the UFK German Untied Loan Guarantee Scheme (UFK- Garantien für Ungebundene Finanzkredite).
A first assessment was undertaken by PWC in its capacity as Mandated Manager of the UFK Untied Loan Guarante Scheme on behalf of the Federal Republic of Germany, and builds upon the UFK in principle eligibility previously announced on 16 February 2015.
The aimed confirmation of UFK Cover, which remains subject to final due diligence and approval, will follow an assessment by PWC of, inter alia, the Ilovica Feasibility Study, the Environmental & Social Due Diligence Report and the terms of a 10 year Copper Concentrate Offtake Agreement between Euromax and Aurubis AG (as previously announced on 8 Dec 2015).
Commenting on this announcement, Steven Sharpe, President & CEO stated: "This reconfirmation of the in principle eligibility from the German Government is a resounding endorsement of Euromax, the Ilovica Project and Macedonia as an investment destination. From a financial perspective, the potential UFK cover allows us access to 12 year project financing, which is highly beneficial for a project of the magnitude and longevity of ilovica."
BACKGROUND ON THE UFK SCHEME
The German Federal Government provides UFK coverage in form of loan guarantees for the financing of eligible projects. An Untied Loan Guarantee insures project's lenders against losses incurred due to commercial and political risks.
Eligible projects contribute to the supply of critical natural resources to Germany in form of long-term off-take contracts between the borrower and German off-takers. The project has to be economically viable and comply with international environmental and social standards (e.g. Equator Principles).
More information on the UFK Scheme is available at: http://www.agaportal.de/en/ufk/index.html
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovitza copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
Euromax in Kürze am Toronto Mainboard gelistet...
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 20, 2016) - Euromax Resources Ltd. (TSX VENTURE:EOX) (OTC PINK:EOXFF): ("Euromax" or the "Company"), is pleased to announce that it has received conditional approval from the Toronto Stock Exchange ("TSX") for the listing of its common shares on the TSX subject to compliance with certain conditions for listing. In connection with the listing on the TSX, Euromax will apply to voluntarily delist its common shares from the TSX Venture Exchange (the "TSXV").Euromax expects to satisfy all conditions for listing and will make a future announcement in advance of first trading on the TSX, specifying the last day of trading on the TSXV and first day of trading on the TSX. Upon its listing on the TSX, the Company's common shares will continue to trade under the symbol "EOX".
"We are pleased to be graduating to the TSX as it has been an important corporate objective of the Company for the past year. A TSX listing gives rise to a number of advantages as we continue to build shareholder value, such as increased access to the capital markets and a larger pool of institutional investors," said Steve Sharpe, President & CEO of Euromax.
About Euromax Resources Ltd.
Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.
http://business.financialpost.com/business-trends/optimism-v…
Euromax Resources raises $240 million backed by sovereign state
To paraphrase Charles Dickens: “It is the best of times, it is the worst of times.”
The DJIA has reached a new all-time high—but there is a vapour of panic rising from the general euphoria.
With investors twisting their necks left and right—unsure whether to charge forward or run for cover—the big opportunities may be in politically de-risked commodity companies capable of generating hard cold cash.
Euromax Resources Ltd. (TSX.V: EOX) (OTCPK: EOXFF) (WKN: A1J6XZ) is focused on building and operating a mammoth copper/gold project in Macedonia. As many juniors struggle to raise money, EOX has signed a 10-year offtake with the Pirdop plant in Bulgaria, owned by the German company, Aurubis, triggering a $240 million secured investment.
Germany is the world’s second largest importer of copper. The government guarantees the development of new copper mines supplying its domestic market. As a result, financial institutions can lend to Euromax with a full sovereign guarantee from the world’s 4th biggest economy.
“The backing of the German government allows us to borrow $240 million and repay it over 12 years,” stated Euromax President and CEO, Steven Sharpe, in an exclusive interview. “When you’ve got a 23-year mine life, a 12-year debt scenario creates positive economics for the shareholders”.
The management team of Euromax is transplanted from European Gold Fields that developed a project in Greece that sold for $2.5 billion in a stock transaction.
“We have a simple business model which is to return all free cash flow to shareholders,” stated Sharpe.
For many years, Sharpe and his team eye-balled Euromax as an acquisition target because the Ilovica Project copper-gold porphyry has almost identical geology to the Gold Fields’ asset. But at that time, Freeport had back-in rights.
“The business model of the former Euromax management was predicated on being taken out by Freeport,” explains Sharpe. “So when Freeport failed to exercise its option, it created an opportunity. After our success in Greece, we were confident that we had a clear path to developing a business that will generate $100 million a year.”
After acquiring the asset for about $20 million, Sharpe’s team rolled up their sleeves and took an inferred resource to a PEA, a PFS, a definitive feasibility study, and then recently to an NI 43-101 reserve.
Sharpe describes the last four years as, “moving an asset up through the value curve.” The project advancement has coincided with the worst commodity down-cycle in a generation, so the share price today is similar to the share price when Sharpe and his team first acquired the asset.
Macedonia is not a well-known mining jurisdiction but Euromax has found it to be transparent, pragmatic and flexible.
“Foreign investment is the cornerstone of Macedonia’s economic policy,” explains Sharpe. “The average age of the ministers is 30 years old. Early in the process, I was granted a meeting with the Prime Minister. At that time, concessions were only granted for two years. I explained to the Prime Minister that was insufficient time to collect base-line data and do an environmental study.”
The Prime Minister listened to what Sharpe said, called a special meeting of Parliament, and passed the law extending the time period to four years. With steady advancement of the asset and zero permitting issues, Euromax is attracting attention from institutional investment groups.
“A couple of weeks ago, I did a road show in Montreal, Toronto, New York, San Francisco and Vancouver,” stated Sharpe. “There was a remarkable transformation in mood. The big funds wheeled out their chief investment officers. They like the idea that every Euromax share is directly correlated to the performance of a mine. It’s a business proposition, not a roulette wheel.”
Euromax Resources just received final approval to graduate from the TSX Venture Exchange and list its common shares on the TSX, under the existing symbol ‘EOX’.
“At European Gold Fields, we were on the main board, so we were already following these regulatory protocols,” stated Sharpe. “With our bookkeeping fully compliant, we just had to demonstrate that we have 18 months of working capital.”
The Ilovica project wouldn’t work in Canada because the infrastructural costs are too high. A simple open pit mine works in Macedonia because the operating costs are low and the strip ratio is 1:1. The gold and the copper mineralisation begins at surface. Euromax does not have to dig down to start making money.
“Euromax has professional management with a clear path to bring the Ilovica project into production under a strong social mandate,” stated Anthony P. Fierro, an Institutional Broker with PI Financial Corp. “More than likely, Euromax will become a leveraged mid-size Cu-Au producer going into the next commodity cycle.”
“The Ilovica Project is on the grid. There is a paved highway to the site and there is a smelter 240 kilometers away,” explains Sharpe. “We estimate our transportation costs at about $20 a tonne, compared to sea transport which is typically $120 a tonne. The cost of power is cheap. The labor’s cheap. The corporate tax rate in Macedonia is 10%, and you only pay it when you distribute.”
Meanwhile, the IMF has slashed global growth projections, the S&P 500 earnings index are down 6% , while the safe-haven Junior Gold Miners ETF (NYSE: GDXJ) surged 115% in the last year.
Copper prices also recently rose to their highest level in 60 days, supported by strong demand data from China and a weakening U.S. dollar.
As the battle for the hearts and minds of investors continues, savvy investors are buying metal-in-the ground.
This story was provided by Market One for commercial purposes.
Euromax Resources raises $240 million backed by sovereign state
To paraphrase Charles Dickens: “It is the best of times, it is the worst of times.”
The DJIA has reached a new all-time high—but there is a vapour of panic rising from the general euphoria.
With investors twisting their necks left and right—unsure whether to charge forward or run for cover—the big opportunities may be in politically de-risked commodity companies capable of generating hard cold cash.
Euromax Resources Ltd. (TSX.V: EOX) (OTCPK: EOXFF) (WKN: A1J6XZ) is focused on building and operating a mammoth copper/gold project in Macedonia. As many juniors struggle to raise money, EOX has signed a 10-year offtake with the Pirdop plant in Bulgaria, owned by the German company, Aurubis, triggering a $240 million secured investment.
Germany is the world’s second largest importer of copper. The government guarantees the development of new copper mines supplying its domestic market. As a result, financial institutions can lend to Euromax with a full sovereign guarantee from the world’s 4th biggest economy.
“The backing of the German government allows us to borrow $240 million and repay it over 12 years,” stated Euromax President and CEO, Steven Sharpe, in an exclusive interview. “When you’ve got a 23-year mine life, a 12-year debt scenario creates positive economics for the shareholders”.
The management team of Euromax is transplanted from European Gold Fields that developed a project in Greece that sold for $2.5 billion in a stock transaction.
“We have a simple business model which is to return all free cash flow to shareholders,” stated Sharpe.
For many years, Sharpe and his team eye-balled Euromax as an acquisition target because the Ilovica Project copper-gold porphyry has almost identical geology to the Gold Fields’ asset. But at that time, Freeport had back-in rights.
“The business model of the former Euromax management was predicated on being taken out by Freeport,” explains Sharpe. “So when Freeport failed to exercise its option, it created an opportunity. After our success in Greece, we were confident that we had a clear path to developing a business that will generate $100 million a year.”
After acquiring the asset for about $20 million, Sharpe’s team rolled up their sleeves and took an inferred resource to a PEA, a PFS, a definitive feasibility study, and then recently to an NI 43-101 reserve.
Sharpe describes the last four years as, “moving an asset up through the value curve.” The project advancement has coincided with the worst commodity down-cycle in a generation, so the share price today is similar to the share price when Sharpe and his team first acquired the asset.
Macedonia is not a well-known mining jurisdiction but Euromax has found it to be transparent, pragmatic and flexible.
“Foreign investment is the cornerstone of Macedonia’s economic policy,” explains Sharpe. “The average age of the ministers is 30 years old. Early in the process, I was granted a meeting with the Prime Minister. At that time, concessions were only granted for two years. I explained to the Prime Minister that was insufficient time to collect base-line data and do an environmental study.”
The Prime Minister listened to what Sharpe said, called a special meeting of Parliament, and passed the law extending the time period to four years. With steady advancement of the asset and zero permitting issues, Euromax is attracting attention from institutional investment groups.
“A couple of weeks ago, I did a road show in Montreal, Toronto, New York, San Francisco and Vancouver,” stated Sharpe. “There was a remarkable transformation in mood. The big funds wheeled out their chief investment officers. They like the idea that every Euromax share is directly correlated to the performance of a mine. It’s a business proposition, not a roulette wheel.”
Euromax Resources just received final approval to graduate from the TSX Venture Exchange and list its common shares on the TSX, under the existing symbol ‘EOX’.
“At European Gold Fields, we were on the main board, so we were already following these regulatory protocols,” stated Sharpe. “With our bookkeeping fully compliant, we just had to demonstrate that we have 18 months of working capital.”
The Ilovica project wouldn’t work in Canada because the infrastructural costs are too high. A simple open pit mine works in Macedonia because the operating costs are low and the strip ratio is 1:1. The gold and the copper mineralisation begins at surface. Euromax does not have to dig down to start making money.
“Euromax has professional management with a clear path to bring the Ilovica project into production under a strong social mandate,” stated Anthony P. Fierro, an Institutional Broker with PI Financial Corp. “More than likely, Euromax will become a leveraged mid-size Cu-Au producer going into the next commodity cycle.”
“The Ilovica Project is on the grid. There is a paved highway to the site and there is a smelter 240 kilometers away,” explains Sharpe. “We estimate our transportation costs at about $20 a tonne, compared to sea transport which is typically $120 a tonne. The cost of power is cheap. The labor’s cheap. The corporate tax rate in Macedonia is 10%, and you only pay it when you distribute.”
Meanwhile, the IMF has slashed global growth projections, the S&P 500 earnings index are down 6% , while the safe-haven Junior Gold Miners ETF (NYSE: GDXJ) surged 115% in the last year.
Copper prices also recently rose to their highest level in 60 days, supported by strong demand data from China and a weakening U.S. dollar.
As the battle for the hearts and minds of investors continues, savvy investors are buying metal-in-the ground.
This story was provided by Market One for commercial purposes.
so, nun ist es bald soweit..Finanzierung der Mine und überarbeitete Feasibility-Studie steht an... waehrenddessen ist der Kurs entgegen dem markttrend weiter nach oben gelaufen...die Aktie ist mit einer Marktkapitalisierung von ca 70 Mio CAD aber immernoch spottbillg .... der jährliche Cashflow wird um die100 Mio$ betragen...
DurchsuchenBeitrag zu dieser Diskussion schreiben
Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie eine neue Diskussion.
Investoren beobachten auch:
| Wertpapier | Perf. % |
|---|---|
| - | |
| +40,00 | |
| - | |
| +900,00 | |
| +24,64 | |
| +1,12 | |
| 0,00 | |
| 0,00 | |
| +3,85 | |
| -90,00 |
Meistdiskutiert
| Wertpapier | Beiträge | |
|---|---|---|
| 225 | ||
| 119 | ||
| 105 | ||
| 76 | ||
| 57 | ||
| 38 | ||
| 36 | ||
| 36 | ||
| 33 | ||
| 31 |
