Seeking Alpha

QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • North Springs Resources Corp. (NSRS) Signs Agreement To Buy Mexican Precious Metals Properties 0 comments
    Feb 22, 2012 1:54 PM | about stocks: NSRS
    North Springs Resources Corp. is an exploration company focused on discovering and developing precious metal properties in Nevada, Arizona, and Mexico. The company continues to look for opportunities to add to its asset property base by acquiring additional leases or entering into joint ventures and partnerships that will add to shareholder value.

    The company announced today that it has signed a definitive agreement with Hyperion Management Mining to acquire a 10% interest in an option on various gold and silver producing properties in Chihuahua, Mexico. In total the various properties have an inferred reserve estimate of 730,000 ounces of gold and 94 million ounces of silver.

    Previously, this deal was also to include a 10% interest in a new milling facility to be built in the area. Both parties remain committed to this goal, but for now, will revisit the building of a milling facility at a later date. The company and its partners have also agreed to terminate the agreements for North Spring to acquire properties in Guyana due to local laws and regulations delaying plans for development of the properties.

    Although a definitive agreement has been signed, closing of the deal is still subject to further due diligence, including an additional company-initiated review conducted by an independent, qualified, and licensed Mexican geologist to evaluate the properties in question. If all is well, the transaction is expected to proceed within 3-5 business days.

    For further information about North Springs Resources, please visit the company's website at northspringsresources.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: NSRS
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.