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Golconda Announces the Issuance of a Secured Debenture and Operations Update
Published : May 18, 2011
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Keywords :   Canada | Diamond | Gold | Market |

CALGARY, ALBERTA--(Marketwire - May 18, 2011) - Golconda Resources Ltd. (the "Corporation" or "Golconda") (News - Market indicators) is pleased to announce the completion of a private placement debenture ("Debenture") and to provide an operations update.

Debenture

The secured Debenture is in the principal amount of $500,000, has a term of two years, bears interest at 10% per annum with interest payable monthly and the principal is due in full at maturity.

The Corporation intends to use the proceeds from this private placement for general working capital purposes.

Operations Update

Golconda's present focus is the Diamond core drilling services business provided by its wholly-owned subsidiary, Lyncorp Drilling Services Ltd. ("Lyncorp"). Lyncorp provides services to the mining industry in northern and western Canada, with its operations centre in Smithers, British Columbia. 

With improved economic news and a turnaround in the mining industry Lyncorp has enjoyed an early start to the drilling season. Currently three drills are operating at the Dublin Gulch property in the Mayo, Yukon area for Victoria Gold Corp. Lyncorp expects additional contracts and programs to be finalized and mobilised over the coming weeks.

Golconda is in the business of exploration drilling in western and northern Canada and mineral property exploration and development in Nevada.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

NEITHER 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.

Golconda Resources Ltd.
David Orr
President
(403) 539-4440
dorr@golconda.ca
www.golcondaresources.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Golconda Resources Ltd

EXPLORATION STAGE
CODE : GA.V
ISIN : CA38046F1027
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Golconda Res. is a silver and gold producing company based in Canada.

Golconda Res. holds various exploration projects in Canada.

Its main exploration properties are SOUTH MONITOR, 4 ACES, SHULIN LAKE, RALSTON VALLEY, MERGE, MONITOR FLAT, WAPAWEKKA, ENNIS LAKE, SHULIN LAKE and WAPAWEKKA WEST in Canada.

Golconda Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 85.4 millions as of today (US$ 67.5 millions, € 59.6 millions).

Its stock quote reached its lowest recent point on July 10, 2015 at CA$ 0.01, and its highest recent level on June 04, 2021 at CA$ 1.18.

Golconda Res. has 133 509 992 shares outstanding.

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Financings of Golconda Resources Ltd
9/19/2012Provides Update Regarding Debt Financing
5/18/2011Announces the Issuance of a Secured Debenture and Operations...
Nominations of Golconda Resources Ltd
2/22/2011Appoints Mr. David Orr as New President
2/22/2011Appoints New President
Project news of Golconda Resources Ltd
5/14/2013Announces Asset Sale and Production Update
10/24/2012Announces Reserves Results and Resumption in Trading
Corporate news of Golconda Resources Ltd
7/22/2015Goldonda Resources Ltd. transfers to NEX
4/1/2015Golconda Resources Ltd.: Corporate Update
2/23/2015Golconda Resources Ltd. Completes Sale of Cold Lake Joint Ve...
1/23/2015Golconda Resources Ltd. Announces Meeting Results
1/5/2015Golconda Announces Disposition
12/23/2014Golconda Resources Ltd. Announces Additional Cold Lake Joint...
12/12/2014IIROC Trading Resumption - GA
12/12/2014Golconda Resources Ltd. Agrees to Sell Cold Lake Joint Ventu...
12/12/2014IIROC Trading Halt - GA
4/30/2014Golconda Resources Ltd.: Cold Lake First Nations Joint Ventu...
10/16/2013.: Initial Sale of Oil Production by Cold Lake First Nations...
8/26/2013. Provides Status Report on Cold Lake First Nations Joint Ve...
5/24/2013Announces Closing of Asset Sale
3/27/2013.: Corporate Update- Drilling Completed
3/22/2013.: Corporate Update- Drilling to Commence
9/6/2012Provides Update Regarding Joint Venture and Announces Propos...
6/15/2011Announces Limited Partnership With Birch Narrows First Natio...
6/7/2011Provides Update to Annual General and Special Meeting Matter...
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