Dear shareholder,
A number of exciting things are happening in the next few months for Orex Minerals Inc. I want to make sure you know what is coming up for us.
First, we are getting ready to close a non-brokered private placement on or around March 28th at $0.50 per share and are close to raising $10,000,000 CAD. We plan to spend about $3,000,000 of that over the next year at the newly acquired Los Crestones gold and silver project in Sinaloa, Mexico.
The acquisition of Astral Mining Corp. was successfully closed in February. We anticipate getting started on exploration of this Los Crestones project, due to highly interesting results from the initial drilling program that returned excellent gold intercepts we would like to investigate.
Next, the Company will spin off the Sweden gold project, Barsele, into a new publicly traded company. You will all receive shares in the new �Barsele Minerals Corp.� company, and it will be listed on the TSX Venture Exchange and also co-listed on the Stockholm Exchange in Sweden. Then we will raise another $5-$10,000,000 CAD and all of this money will be focused on the exploration of our Barsele gold project in Sweden. The exploration geology team plans to start drilling, conduct bulk sampling, and complete a scoping study to help us decide how to optimise the deposit for the creation of a mine in the future. Sweden has been named the second best worldwide mining destination (behind Finland) for investment in mining while protecting the environment. A link to the Fraser Institute is included below if you�d like to read the whole report.
Drilling is going very well at the Coneto project in Durango Mexico, and we are extremely pleased with the exploration drill results to date. Our most recent press release sets out major gold and silver assay results from intercepts in six different mineralized structures that are going to be targeted for future delineation drilling. Our exploration partner on the project, Fresnillo Plc, has just added a third drill rig to the site which is a positive sign. We have enjoyed working with the technical team on the exploration plan for Coneto and the relations between our companies have been excellent.
This is going to be a great year for the Company and shareholders.
http://www.fraserinstitute.org/research-news/display.aspx?id=19401
Gary Cope, President & CEO
Orex Minerals Inc.
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Orex Minerals Inc.
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EXPLORATION STAGE |
CODE : REX.V |
ISIN : CA68616X1006 |
CUSIP : 68616Q |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Orex Minerals is a silver and gold exploration company based in Canada. Orex Minerals holds various exploration projects in Mexico. Its main exploration properties are EL TIGRE, LAS SORPRESAS and PAMEL in Peru, BARSELE in Sweden and CONETO, SANTA CRUZ and LAS MESAS DURANGO in Mexico. Orex Minerals is listed in Canada. Its market capitalisation is CA$ 22.1 millions as of today (US$ 16.1 millions, € 15.1 millions). Its stock quote reached its highest recent level on August 12, 2016 at CA$ 1.38, and its lowest recent point on August 11, 2023 at CA$ 0.02. Orex Minerals has 113 430 000 shares outstanding. |