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Babybulls.com: BabyBulls.com Alerts for Wednesday, November 19, 2008:
NYG, RBY, DHBR, CGLD, and WITM
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:19112008
San Diego, California -- BabyBulls.com Alerts for Wednesday include
Nayarit Gold Inc. (TSX-V: NYG); Rubicon Minerals Corporation (AMEX:
RBY); Drayton Harbor Resources, Inc. (OTCBB: DHBR); Capital Gold
Corporation (OTCBB: CGLD); and Wits Basin Precious Minerals Inc.
(OTCBB: WITM).
--- Nayarit Gold Inc. (TSX-V: NYG) closed yesterday at $0.45 per share
on trading volume of 115,500 shares. Yesterday's close represented an
increase of $0.04 per share or 9.76%.
In a press release dated November 18, 2008, Nayarit Gold announced
additional drill results from its ongoing 30,000 metre Phase II drill
program at the Orion District in the State of Nayarit, Mexico. The
assays reported today include drill hole 66, a step out hole at the
Animas/Del Norte Discovery. Drill hole 66 returned three strong zones,
including: (i) 24.68 metres of 1.31 g/t gold and 129.3 g/t silver; (ii)
2.37 metres of 6.07 g/t gold and 198.13 g/t silver; and (iii) 4.07
metres of 1.41 g/t gold and 37.24 g/t silver.
In addition to Animas/Del Norte, the Company's drill program also
included the San Francisco Target, an area approximately 1.4 kilometers
due west of Animas/Del Norte. The Company has twinned several drill
holes completed during the 1990's by the previous owner. The Company
has received assays for three holes with 5 holes pending assay results.
In drill hole 116, the Company intersected 9.57 meters of 2.18 g/t gold
and 89.5 g/t silver. The vein material and mineralization intersected
in the core appears visually similar to that at the Animas/Del Norte
Discovery. Confirmation drilling is ongoing as well as exploration
along the structure as the Company develops additional drill targets.
The structure in the San Francisco Target area appears open to both
east and west.
A complete copy of the press release is available at
http://www.nayaritgold.com/PDFs/press_20081118.pdf.
A comprehensive profile for Nayarit Gold is available at
www.babybulls.com.
Nayarit Gold Inc. is a Halifax based junior resource company dedicated
to gold exploration in the proven precious metal districts of Mexico.
Management's goal is to build a profitable resource company and
maximize shareholder value through successful exploration programs and
continued development.
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fully profiled company, email us at info@babybulls.com.
--- Rubicon Minerals Corporation (AMEX: RBY) closed yesterday at $0.84
per share on trading volume of 132,842 shares. Yesterday's close
represented a decrease of $0.02 per share or 2.33%.
In a press release November 18, 2008, Rubicon Minerals announced the
closing of its previously announced concurrent brokered and
non-brokered private placements, raising gross aggregate proceeds of
$10,200,930. Pursuant to the brokered offering, the Company issued
4,500,000 flow-through common shares (the "FT Shares") at a price of
$1.35 per FT Share and 3,296,300 common shares (the "Offered Shares")
at a price of $1.10 per Offered Share, for gross proceeds of $9,700,930
(the "Brokered Offering"). GMP Securities L.P. acted as lead agent in
connection with the Brokered Offering, along with a syndicate of agents
that included Research Capital Corporation and TD Securities Inc. The
Company also issued 370,370 flow-through shares at a price of $1.35 per
flow-through share to certain insiders and employees of the Company as
well as other qualified investors, for gross proceeds of $500,000.
Proceeds from the issue and sale of the flow-through shares will be
used to incur eligible Canadian Exploration Expenses on the Company's
Phoenix Gold project. Proceeds from the issue and sale of the Offered
Shares will be used for general and administrative and working capital
purposes.
Rubicon Minerals Corporation, a gold exploration company, engages in
the acquisition, exploration, and development of gold and base metal
deposits in North America. The company controls approximately 180,000
acres of prime exploration ground in the prolific Red Lake gold camp of
Ontario, which hosts Goldcorp's Red Lake Mine. Its flagship property is
the 100%-controlled Phoenix Gold Project, located in the heart of the
prolific Red Lake gold district of Ontario. The company also holds
512,960 acres of prospective exploration ground in Alaska in the area
of the 5.6 million ounce Pogo deposit, as well as a 225,000 acre land
package in northeast Nevada.
--- Drayton Harbor Resources, Inc. (OTCBB: DHBR) closed yesterday at
$0.55 per share on trading volume of 100,000 shares. Yesterday's close
represented an increase of $0.05 per share or 10.00%.
In a press release November 18, 2008, Drayton Harbor announced it has
entered into a Letter of Intent ("LOI") with You.i Labs ("You.i") of
Ottawa, Ontario, Canada. Under the terms of the LOI, Drayton intends on
entering into a Development Services Agreement ("DSA") under which
You.i Labs will develop certain mobile content creation and delivery
solutions for the company and associated intellectual property. Both
parties have agreed in principal to enter into a Definitive Agreement
on or before November 30th, 2008.
Drayton Harbor Resources, Inc. engages in the exploration, development,
and production of copper and gold properties in Canada and the United
States. It owns interests primarily in the Canyon Gold Mine property,
which comprises a MTO mineral claim containing 15 cell units with
310.235 hectares in area located to the northwest of Vancouver, British
Columbia.
--- Capital Gold Corporation (OTCBB: CGLD) closed yesterday at $0.32
per share on trading volume of 81,750 shares. Yesterday's close
represented no change from the previous day.
In a press release November 17, 2008, Capital Gold announced that it
has produced 11,888 ounces of gold in the first fiscal quarter of 2009
(ended October 31, 2008) at its El Chanate mine in Sonora, Mexico.
Gross proceeds from the quarter were just over $9.1 million, with an
average sale price of $801 per ounce.
According to John Brownlie, Capital Gold's Chief Operating Officer, "We
are exceeding each previous quarter's production totals on a consistent
basis now. The new ADR plant is almost completely operational and we
should continue to see production growth."
Capital Gold Corporation is a gold production and exploration company.
Through its Mexican subsidiaries and affiliates, it owns 100% of the El
Chanate gold property in Sonora, Mexico. The proven and probable
reserve is now 832,000 ounces of gold. The Company has produced over
50,000 ounces of gold since inception. Further information about
Capital Gold and the El Chanate Gold Mine is available on the Company's
website, www.capitalgoldcorp.com.
--- Wits Basin Precious Minerals Inc. (OTCBB: WITM) closed yesterday at
$0.09 per share on trading volume of 125,270 shares. Yesterday's close
represented a decrease of $0.005 per share or 6.32%.
In a press release November 17, 2008, Wits Basin announced today that
London Mining Plc and Wits Basin have entered into definitive terms for
the formation and operation of a 50/50 joint venture company which will
own all the issued shares in China Global Mining Resources Ltd.
("CGMR"). CGMR, currently a wholly-owned subsidiary of Wits Basin,
holds the rights to acquire the Maanshan Xiaonanshan iron ore mine
located in the Anhui Province in the People's Republic of China and the
Nanjing Sudan processing plant located in the nearby Jiangsu Province.
London Mining has conditionally agreed to subscribe for a 50 percent
interest in the joint venture company for an initial investment of
USD$45 million. London Mining's obligation to subscribe for shares in
the joint venture company is subject to the satisfaction of certain
conditions, including, without limitation, the completion of its due
diligence, incorporation of the joint venture company, transfer of the
shares in CGMR to the joint venture company, and the satisfaction of
the remaining conditions precedent in CGMR's contracts to purchase the
Maanshan Xiaonanshan Mine and the Nanjing Sudan processing plant. These
remaining conditions precedent include, among other matters, receipt of
approvals from the Chinese Ministry of Commerce and the issuance of an
updated mining permit for the Maanshan Xiaonanshan Mine.
While Wits Basin and London Mining will each initially have a 50
percent interest in the joint venture, London Mining will have
preferential rights with respect to return of capital and distributions
of available profits until its USD$45 million initial investment is
returned. The joint venture company will be controlled through a
shareholders' agreement.
Wits Basin is a minerals exploration and development company holding
interests in three exploration projects and currently does not claim to
have any mineral reserves on any project.
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provide innovative products or services resulting in potentially
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to learn about these companies at their development stage, and more
importantly before they possibly "turn the corner" and get exposed to a
much larger investing audience.
Babybulls.com (www.babybulls.com) has prepared all material herein
based upon information believed to be reliable. The information
contained herein is not guaranteed by BabyBulls.com to be accurate, and
should not be considered to be all-inclusive. BabyBulls.com is a
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affiliates, officers, directors and employees may also have bought or
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decides to sell and does not and will not offer any opinion as to when
others should sell; each investor must make that decision based on his
or her judgment of the market. BabyBulls.com has the following
compensation arrangements with the companies profiled or mentioned in
this press release: Nayarit five thousand dollars per month on a month
by month basis and one hundred twenty five thousand options at C$0.50.
The companies that are discussed in this opinion have not approved the
statements made in this opinion. This opinion contains forward-looking
statements that involve risks and uncertainties. This material is for
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solicitation of an offer to buy or sell securities. BabyBulls.com is
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Copyright ? 2008 M2 Communications Ltd.
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