https://www.miningweekly.com

Sandstorm liquidates position in Pinecrest Resources

12th April 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Gold streaming and royalty firm Sandstorm Gold has sold ten-million common shares, or 18.2%, of Africa-focused junior explorer Pinecrest Resources, raising gross proceeds of C$21-million.

The transaction reduces Sandstorm’s holdings in Pinecrest to zero.

However, Sandstorm retains ten-million share purchase warrants of Pinecrest, which if exercised, would result in Sandstorm holding 13.9% of the then issued and outstanding Pinecrest shares, on a partially diluted basis.

Pinecrest is a Vancouver-based explorer that is conducting mineral exploration and development of its 100% owned Enchi gold project, in Ghana.

Pinecrest has recently raised C$1.5-million, which it will put to work on achieving its goals at Enchi.

Sandstorm and Pinecrest entered into a strategic alliance in 2014 to develop Enchi, which is also part owned (19.9%) by Kinross Gold, and currently holds about one-million ounces of gold in the inferred resource category.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Kriel Occupational Health Centre
Kriel Occupational Health Centre

Occupational health services, mobile clinics, wellness campaigns, aviation.

VISIT SHOWROOM 
Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.807s - 110pq - 2rq
Subscribe Now