The Los filos Project borders Gleichen to the south!!

If GRL can pull holes like this i will certainly have that Ferrari!

gold continues to reach for 1200 .. 1195 tonight!

Los Filos

Exploration drilling at Los Filos in 2009 focused on drilling the Bermejal extension to the south and on adding reserves in the 4P area. Assay results during the year demonstrate progress on both fronts, with 102.16 metres of 1.41 g/t gold and 99.25 metres of 1.40 g/t gold in the Bermejal south extension, as well an exceptional intercept of 84.27 metres true width at 14.91 g/t gold in the 4P area. The objective of further drilling at 4P is to develop an open-pit mine to be integrated into the existing Los Filos operations.

LOS FILOS DRILLING RESULTS
Approximate True
Drill hole Area From (m) To (m) width (m) Au (g/t)

EG39-09 4P 25.30 109.57 84.27 14.91
EG30-09 4P 92.57 107.74 15.17 5.25
EG46B-09 4P 71.45 172.45 101.00 0.97
BSG30-09 Bermejal 48.74 151.00 102.16 1.41
BSG28-09 Bermejal 126.30 171.45 45.15 1.83
BSG56-09 Bermejal 143.35 242.60 99.25 1.40

all of a sudden i dont have enough!!

NES.H

Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 63,000 .400
Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 24,000 .400
Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 96,000 .400
Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 1,500 .400
Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 19,500 .450
Lundin, Lukas Henrik Direct Ownership Common Shares 10 – Acquisition in the public market 489,000 .450

Two-Step Strategy to Making a Fortune in Gold

Everything is in place for gold. And as gold makes incrementally new highs and rebounds from the eventual and unexpected corrections, there will be more opportunity.
But at this stage in gold’s run, there’s a simple two step strategy to make a fortune in gold in the next few years.

Step 1) Make a plan to buy gold and gold stocks over the next three to five years

Step 2) Stick to the plan

That’s the beauty of getting in something relatively early. Gold has made a good run over the last eight years, but the biggest money will likely be made in the next eight years as a lot more money piles into the “utter nonsense” that is gold.

GLEICHEN RESOURCES LTD.

GLEICHEN ANNOUNCES COMPLETION OF ACQUISITION OF
78.8% OF MORELOS GOLD PROJECT

Vancouver, British Columbia – November 17, 2009, Gleichen Resources Ltd. (TSXV-GRL) (“Gleichen”) is pleased to announce that it has completed its acquisition of 78.8% of the Morelos Gold Project from Teck Resources Limited through the acquisition of Oroteck Mexico S.A. C.V. from Teck subsidiaries, Teck Metals Ltd. and Teck Exploration Ltd. (collectively “Teck”) for a purchase price of US$150 million, 1,560,857 common shares and 12,443,218 special warrants. The special warrants issued to Teck have identical terms to the special warrants issued in connection with Gleichen’s $241.5 million special warrant financing completed on November 12, 2009. Each special warrant may be exercised for no additional consideration into one (1) common share and one quarter of one (0.25) share purchase warrant. Each whole share purchase warrant entitles its holder to purchase one additional common share for CDN$1.30 until November 12, 2011.

Gleichen also announces that, Donn Burchill has resigned from Gleichen’s board of directors and Terry MacGibbon and Fred Stanford have been appointed to Gleichen’s board of directors. In addition, Fred Stanford has been appointed as President and Chief Executive Officer of Gleichen in place of Michael Murphy (who will remain as a director of Gleichen).

Michael Murphy, Past President and CEO, stated “The successful closing of both the financing and the purchase of the Morelos Gold Property was the result of several people’s valuable contribution. It is a testament to the opportunity at Morelos that so many high quality people were involved. On behalf of Gleichen I thank you all for your very hard work.”

Fred Stanford, incoming President and CEO, stated “I would like to acknowledge and thank Michael Murphy for his tremendous contribution to the success of this transaction and look forward to working with Michael and the rest of the Gleichen board of directors to further the exploration, and development of the Morelos project and turning Gleichen into an emerging mid-size gold producer.” He added “Gleichen is well funded to carry out the necessary work to bring the Morelos project to the feasibility stage and is in the process of assembling excellent management and technical teams to carry out this work.”

Macquarie Capital Markets Canada Ltd., Jones Gable & Company Limited and Primary Capital Inc. acted as advisors to Gleichen in connection with the acquisition. Cassels Brock & Blackwell LLP acted as legal counsel to Gleichen and Lang Michener LLP acted as legal counsel to Teck.

17th November 2009

TORONTO (miningweekly.com) – TSX Venture Exchange-listed Gleichen Resources has completed its acquisition of 78,8% of the Morelos gold project, in Mexico, from diversified miner Teck Resources, the companies announced on Tuesday.

In a transaction first announced in August, Gleichen paid $150-million in cash, about 1,6-million in shares and 12,4-million special warrants, which, once exercised, will leave Teck with about 4,9% of the smaller company.

Teck will put the cash proceeds towards reducing what remains of its term loan, taken on to acquire Fording Canadian Coal last year, the company confirmed.

The term debt will be reduced to around $2,37-billion thanks to the Morelos cash, the company said.

Teck CEO Don Lindsay said last month the loan will be down to about $1,1-billion, after the miner completes all the asset sales already announced.

Gleichen, meanwhile, announced that it has appointed two new directors – Terry MacGibbon and Fred Stanford.

Stanford has also been named president and CEO, replacing Michael Murphy, who will remain as a director.

Earlier this month, Gleichen completed a C$241,5-million private placement of special warrants, to fund the Morelos transaction.

“Gleichen is well funded to carry out the necessary work to bring the Morelos project to the feasibility stage and is in the process of assembling excellent management and technical teams to carry out this work,” Stanford said in a statement.

The remaining 21,2% interest in the Morelos project is owned by Canadian gold-miner Goldcorp.

Shares in Gleichen Resources slid 2,34% on Tuesday, to C$1,25 apiece by 13:31 in Toronto.

Teck was up 0,86%, at C$35,26 a share.
Edited by: Liezel Hill

Finally after a week of driving without a front bumper, the wait is over. About 2 weeks ago I had some damage done to it yeah poor Mugen bumper. Anyways I am not ballin enough to have a second car so had to go without the front. It’s finally back on and looks great!

Well, it finally had to happen. Canwest, down slightly from $25 a share to 25 cents, has been delisted from the TSX. It’s now on the Venture Exchange, but it still is a risky investment. It probably will just vanish after the vultures have cleaned the bones.

CBC, Nov. 13 2009

Gleichen Resources closes $241.5-million financing
Ticker Symbol: C:GRL

Gleichen Resources closes $241.5-million financing

Gleichen Resources Ltd (C:GRL)
Shares Issued 29,763,380
Last Close 11/12/2009 $1.26
Thursday November 12 2009 – News Release

Mr. Michael Murphy reports

GLEICHEN COMPLETES $241.5 MILLION FINANCING

Gleichen Resources Ltd. has completed its previously announced financing to finance the acquisition of 78.8 per cent of the Morelos gold project from Teck Resources Ltd.

The agents, co-lead by Macquarie Capital Markets Canada Ltd., BMO Capital Markets and GMP Securities LP, and including Dundee Securities Corp., Scotia Capital Inc. and Jones, Gable & Company Ltd., placed 241.5 million special warrants of the corporation, including full exercise of the overallotment option, at a subscription price of $1 per special warrant, to raise gross proceeds of $241.5-million.

Each special warrant entitles the subscriber to receive, upon exercise, or deemed exercise following the qualification date (as defined below), and without payment of any further consideration, one unit of the corporation consisting of one common share in the capital of the corporation and one-fourth of one common share purchase warrant. Each common share purchase warrant will entitle its holder to purchase one additional common share for $1.30 for a period of 24 months following Nov. 12, 2009. The special warrants will be deemed automatically exercised, if not already exercised by the holder, on the earlier of:

The third business day after the date of receipt of a (final) prospectus to qualify, in each of the qualifying jurisdictions, the distribution of the common shares and common share purchase warrants to be issued in Canada upon exercise or deemed exercise of the special warrants and the compensation options (as defined below);
4:59 p.m. (Toronto time) on the date which is four months and one day following Nov. 12, 2009.
The corporation has undertaken to file a prospectus in each of the provinces of Canada, except Quebec, as soon as possible following closing. Unless a (final) receipt for a prospectus is received as described above, the special warrants and units are subject to resale restrictions in Canada until March 13, 2010.

The gross proceeds from the offering, less the agents’ estimated costs and expenses in respect of the offering, have been deposited in escrow to be released upon satisfaction of:

All necessary conditions for the completion of the acquisition of the Morelos gold project;
No material adverse change in the financial condition, business or operations of Gleichen;
Receipt by the escrow agent of a joint notice from the agents and Gleichen that the above two points have been satisfied.
The agents have received a cash commission of 5.5 per cent of the gross process from the offering, which forms part of the escrowed proceeds and has been deposited into escrow. In addition to cash commission, the agents have received 2,415,000 compensation options. Each compensation option will be exercisable to acquire one unit, until Nov. 12, 2011, at an exercise price of $1.15.

The net proceeds from the offering are intended to be used for the acquisition of the Morelos project, feasibility and development programs, and exploration at the Morelos gold project and for general working capital purposes.

In the past 6 months or so I have had a number of clients ask about the possibility of raising funds by way of  a rights offering.  In late October we even filed a preliminary prospectus for one of our TSX Venture Exchange listed clients in connection with a proposed rights offering.  Public markets have seen a bit of a resurgence lately but we all know how abysmal things have been over the last while and so I think more companies are  looking at creative ways to raise funds and have been looking to the rights offering as one alternative.

In a “rights offering” a corporation issues “rights” to its existing shareholders. The rights entitle those existing shareholders to acquire additional shares (or some other form of security) from the corporation for a fixed exercise price over a fixed period of time (called the rights offering period).  When issued by a public company, the rights will typically trade  as separate securities on the same exchange as the company’s shares for the duration of the rights offering period.

Companies often look at rights offerings as a way to provide a presumably willing audience — i.e. those who have already bought the company’s shares — with an ability to buy additional shares directly from the company.  To sweeten the deal and encourage exercise of the rights, the rights are often issued with an exercise price at a discount to the market price of the common shares and may also entitle the exerciser to receive a warrant, preferred share or some other security in addition to the common share on exercise of the right. The “sweeter” the deal, the more likely  the rights will have some trading value, thereby enriching your shareholders just by issuing them, and the more likely they will ultimately be exercised prior to the end of the rights offering period.

Rights offerings of smaller sizes can often be done without prospectus under applicable Canadian securities laws but larger offerings will usually require a prospectus.

Rights offerings seem to have had a mixed reputation in the past with some viewing them as a fund raising method of last resort.  For example, I was told by someone at the TSX Venture Exchange that for many years they have only seen one or two a year on the exchange.  Recently, however, there seems to be a renewed interest in this fund raising vehicle and it’s worth a second look for any company looking to raise funds.

Game Day Entertainment et Kangourou Media ont annoncé vendredi avoir conclu une entente en vue de l’acquisition de Kangourou par Game Day.

Les actionnaires de Kangourou recevront 0,40$ en espèces pour chaque action ordinaire de Kangourou en circulation.

Il s’agit d’une prime de 344% par rapport au cours de clôture de l’action ordinaire qui était de 0,09 $ le 5 novembre 2009 à la fermeture de Bourse de croissance du TSX.

Pour les actionnaires de longue date 0,40$ c’est une mince consolation.  Pour les actionnaires qui ont récemment achetés c’est un profit gigantesque.

Encore une entreprise québécoise vendue à une américaine diront certains.

they crossed 10 million shares off the floor today at 1.05 so as to not disturb the market..

very professional outfit

the deal may close as soon as tomorrow which will give them 3 million ounces and a fully diluted cash position of over 125 million dollars!!

countdown begins 3 .. 2 … 1…

Quote:

Note: Bid Size and Ask Size fields are displayed in boardlots

–>

Last 10 Trades:

Finally the deal will proceed!.. i was getting worried there was no news for so long.  We are up about 130 dollars on gold since the deal was announced.  The financing will net 200 million less the 150 million to purchase the property we will have 50 million in cash plus about another 10 million form the previous warrant exercise..above 1.30 with the quarter warrant on the financing will raise another 65 million for a total fully diluted cash position of 125 million!!

so all in one deal Gleichen will have 3 million ounces and 125 million in cash (not including broker warrants)

very high level negotiations and very highly skilled management and directors..

IM LOOKING FORWARD TO SEEING WHAT THEY WILL DO NEXT!!

i expect at least a double in ounces in the next year or so and a very profitable feasibility!

with gold flying GRL’s timing couldnt have been better

warmest regards

caliche

GLEICHEN RESOURCES LTD.

GLEICHEN ANNOUNCES FURTHER TERMS OF ITS
SPECIAL WARRANT FINANCING

Vancouver, British Columbia – November 4, 2009, Gleichen Resources Ltd. (TSXV-GRL) (“Gleichen” or the “Corporation”) is pleased to announce further terms of its previously announced US$200 million financing being completed to fund the acquisition of 78.8% of the Morelos Project.

The Offering is being made pursuant to an agency agreement (the “Agency Agreement”) to be entered into among Gleichen and a syndicate of agents co-lead by Macquarie Capital Markets Canada Ltd., BMO Capital Markets and GMP Securities L.P., and including Dundee Securities Corporation, Scotia Capital Inc. and Jones, Gable & Company Limited (collectively, the “Agents”).

Gleichen will raise up to US$200 million in a fully-marketed private placement (the “Offering”) of special warrants of the Corporation at a subscription price of CDN$1.00 per special warrant. Each special warrant will entitle the subscriber to receive, upon exercise, or deemed exercise following the Qualification Date (as defined below), and without payment of any further consideration, one unit (the “Unit”) of the Corporation consisting of one common share in the capital of the Corporation (each, a “Common Share”) and one-quarter (1/4) of one common share purchase warrant (each whole common share purchase warrant, a “Common Share Purchase Warrant”) (subject to adjustment below). Each Common Share Purchase Warrant will entitle its holder to purchase one additional Common Share for CDN$1.30 for a period of 24 months following the closing date of the Offering. The special warrants will be exercisable at any time following closing and shall be deemed automatically exercised, if not already exercised by the holder, on the earlier of: (i) the third business day after the date of receipt of a (final) prospectus to qualify, in each of the Qualifying Jurisdictions (as defined below), the distribution of the Common Shares and Common Share Purchase Warrants  forming the Units to be issued upon exercise or deemed exercise of the special warrants and the  Compensation Options (as defined below) (the “Qualification Date”); and (ii) 4:59 p.m. (Toronto time) on the date which is four months and one day following the closing date of the Offering.

The closing of the Offering is expected to be November 12, 2009, and is subject to the satisfaction of certain conditions, including receipt of all necessary regulatory approvals, including from the TSX-V, and all other required approvals and consents. Unless qualified by a (final) prospectus, the Special Warrants, the Common Shares and Common Share Purchase Warrants comprising the Units and the common shares issuable upon exercise of the Common Share Purchase Warrants will be subject to a four month hold period.

The Corporation has also granted the Agents an option to solicit offers to purchase that number of additional special warrants equivalent to fifteen percent (15%) of the number of special warrants issued in the Offering on the same terms and conditions and at the same subscription price (the “Over-allotment Option”). The Over-allotment Option may be exercised any time within thirty (30) days of the closing date.

On the closing date, the gross proceeds from the Offering, less the Agents’ estimated costs and expenses in respect of the Offering (the “Escrowed Proceeds”) will be deposited in escrow to be released upon satisfaction of: (a) all necessary conditions for the completion of the acquisition of the Morelos Project; (b) no material adverse change in the financial condition, business or operations of Gleichen; and (c) receipt by the escrow agent of a joint notice from the Agents and Gleichen that (a) and (b) above have been satisfied.

The Agents will receive a commission of 5.5% of the gross proceeds raised in the Offering in cash. In addition to cash compensation, the Agents will receive compensation options (the “Compensation Options”) which will entitle the Agents to subscribe for that number of Units as is equal to 1% of the total number of special warrants sold pursuant to the Offering (including pursuant to the exercise of the Over-allotment Option). Each Compensation Option, subject to regulatory approval, will be exercisable to acquire one Unit, having the same terms and conditions as the Units offered, for a period of 24 months from the closing date, at an exercise price equal to 115% of the subscription price of the Offering.

The net proceeds from the Offering are intended to be used for the acquisition of the Morelos Project, feasibility and development programs, and exploration at the Morelos Project and for general working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

* * *

Gleichen is engaged in the acquisition, exploration, and development of mineral properties. The Company’s shares are traded on the TSX Venture Exchange under the symbol “GRL”.

For further information contact Michael Murphy at (604) 687-3100.

ON BEHALF OF THE BOARD OF DIRECTORS OF GLEICHEN RESOURCES LTD.
“Michael Murphy”
Director, President and CEO

For further information please contact:
Mr. Michael Murphy
Director, President and CEO
Gleichen Resources Ltd.

We tripled our position in Treasury today

it snapped back from a close of .315 yesterday to a new yearly high today of .55

very positive signs

Marc just sold aquiline for 626 million

TORONTO, ONTARIO, Oct 29, 2009 (MARKETWIRE via COMTEX News Network) –

Treasury Metals Inc. (“Treasury Metals” or the “Company”)(TSX: TML) at the request of Market Surveillance, on behalf of the Toronto Stock Exchange, wishes to issue a statement that the Company is not aware of any material undisclosed development that would cause today’s upward movement in the Company’s share price. Treasury Metals recently announced and commenced a 4,500 metre drill program on its 100% owned Goliath Gold Project, located about 20 kilometres east of Dryden, Ontario, Canada. Assay results are pending and will be released in a timely manner along with appropriate exploration updates.

About Treasury Metals

Treasury Metals Inc. is a mineral exploration and development company with a growth-orientated strategy to acquire and develop quality gold assets in the Americas. Treasury Metals’ management team is committed to increasing shareholder value through aggressive exploration and development of its Goliath Gold Project and by pursuing strategic opportunities, including potential acquisitions that meet the Company’s corporate goals of expansion and growth toward becoming a future mid-tier gold producer.

The Company’s flagship project is the 100% owned Goliath Gold Project, an advanced-stage, high-grade gold deposit. The Thunder Lake Gold Deposit contains more than 1.0 million estimated ounces of gold, consisting of 130,000 indicated ounces (820,000 tonnes @ 4.8 g/t Au; Main Zone) and 920,000 inferred ounces (7,000,000 tonnes @ 4.1 g/t Au; All Zones), using a cut-off grade of 2.0 g/t Au (see NI 43-101 report – “Report on the Goliath Project, Kenora Mining Division, Northwestern Ontario, Canada” dated December 19, 2008 – filed on SEDAR). Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. Drilling of the TLGD to date has intersected the Main Zone over a strike length of about 1,700 metres, with thicknesses of 0.5 m to 30 metres (average width of 7.6 metres) and a high-grade core with an average width of 1.9 metres.

Treasury Metals also has royalty revenue from Sierra Minerals’ (TSX: SIM) Cerro Colorado Mine in Mexico and other monetizable assets. Treasury Metals has a strong shareholder base and its management team and board are seasoned mining industry veterans with proven track records.

Technical information in this press release has been reviewed and approved by Scott Jobin-Bevans, Treasury Metals’ President and CEO, who is a qualified person under the definitions established by National Instrument 43-101. For additional information on Treasury Metals and its projects, please visit the Company’s website at www.treasurymetals.com.

Forward-looking Statements

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company’s future prospects. This press release contains statements about our future financial condition, results of operations and business. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

Contacts: Treasury Metals Inc. Wanda Cutler 416.603.4646 www.treasurymetals.com

SOURCE: Treasury Metals Inc.

http://www.treasurymetals.com

TSX Observations

1) The TSX hasn’t made a high since Sept 23rd 2009, printing 11648 over one month ago. October 23rd 2009 came close, printing 11595. Lloyd Robertson has duly reported the big rally days between then and now, but failed to mention they’re not getting us anywhere.

2) The TSX has been bouncing off a strong support line since the rally started in March (the baby blue line). Support lines work until the market is too tired to bounce. Then they become lines of resistance.

3) The TSX is made up of three primary sectors, Financials, Energy, and Materials. If we break down the TSX to these three components, the financials made their highs in September and are now trading 5 to 10% below those highs. Energy and Materials carried the TSX into October, but failed to achieve new highs. This created an ominous “double top” which signals a decline is at hand.

4) Volume has been waning since this rally started. 1.37Billion shares traded the second week of March while only 874Million shares traded last week, a decline of 36%. The market is exhausted.

TSX & USD Observations

The USD was under some serious pressure from just about every direction. Headlines all over the world told of an absolutely terrible USD. Everyone hated it. Traders were making huge bets it was going to decline even more. The US empire was ready for an eclipse… This kind of negative sentiment is exactly what happens before a major reversal. The stage is set with uber-bearish sentiment. In this case, a record 97% of traders believed the USD was heading lower.

Rallies always begin on bad news (recall the sentiment on stocks in March before the stock markets took off). The reality is that the USD is starting to reverse and go higher. The USD has already rallied 3.5% against the CAD, 1.3% against Swiss Francs, 1.1% against the Euro, 1.95% against the Pound and 4.2% against the Yen. These are sizeable moves as far as currencies go. With 97% of traders bearish, you have to ask, “who else is left to get bearish on this?”

There is a large “short squeeze” unfolding here, as traders who shorted USD months/weeks ago will have to buy them back as price moves higher to cover their positions. A “short” profits if the investment loses value. He first sells, and then buys back later, hopefully at a lower price, to cover the position. A “short squeeze” works very much like a feedback loop: a move higher causes traders to exit the short position by buying, which causes another move higher, which causes the traders to buy more, and so on and so on, until the short positions are all unwound. There are a heck of a lot of short positions on the USD, folks.

Those who remember the USD is the most liquid currency in the world, and the only currency that is universally accepted (even in Iran and North Korea), will be well served. You can’t change that over the span of a couple months.

So it appears the tipping point has been reached. I expect a broad cultural paradigm shift back to deflation is ahead. The USD will basically do the opposite of everything else. Rising USD, rising government bonds, declining gold/silver, declining oil, declining equities, declining corporate bonds. Holding Canadian cash will do just fine too. The point now is to remain as liquid as possible.

Why Remain Liquid?

There are plenty more rallies (and declines) ahead of us, so keep your powder dry:

Dow Jones 1930s features 8 large rallies, 8 large declines.

Nikkei index of Japan in the 1990s features 5 large rallies, 6 large declines.

This thing ain’t over yet. It’s just getting starting.

http://www.youtube.com/watch?v=Rp6-wG5LLqE

Don’t get fooled again.

Well done with maps and lots of info relating to valuation

check out NES.h tucked in between two 200 million dollar properties..

http://www.gleichenresourcesltd.com/i/pdf/Presentation.pdf

GRL is buying the morelos for 150 million FAN is worth about 200 million.. tucked between the two is NES.H Newstrike Capital.. it used to be aurea mining .. it is held by the lundin’s ..

TCC Tarsis Res has an adjacent property it has common directors as grl ..only 14 million shares

take a look .. it looks to be shaping up into a great area play..

you heard it here first..
__________________
caliche

WOW .. these guys are getting sh!t done!!.. get a massive gold deal from teck, raise 200 million dollars and stack the board with some really amazing talent..i have never seen a better operation ..

WELL DONE !!!!

Gleichen warrant offering to raise $200-million (U.S.)
Ticker Symbol: C:GRL

Gleichen warrant offering to raise $200-million (U.S.)

Gleichen Resources Ltd (C:GRL)
Shares Issued 28,763,380
Last Close 10/14/2009 $1.39
Wednesday October 14 2009 – News Release

Mr. Michael Murphy reports

GLEICHEN ANNOUNCES US$200 MILLION FINANCING TO FUND ACQUISITION OF 78.8% OF MORELOS PROJECT

Gleichen Resources Ltd. has entered into an agreement to raise approximately $200-million (U.S.) in a fully marketed private placement of special warrants to finance its previously announced acquisition of 78.8 per cent of the Morelos project from Teck Resources Limited through the acquisition of Oroteck Mexico S.A. de C.V. from Teck subsidiaries Teck Metals Ltd. and Teck Exploration Ltd. for the purchase price of $150-million (U.S.) and a 4.9-per-cent stake in Gleichen. Oroteck owns 78.7966 per cent Series A shares in the capital of Minera Media Luna S.A. de C.V., the holder of the Morelos concessions. Gleichen has entered into an amending agreement dated Oct. 7, 2009, in connection with its acquisition of the Morelos project from Teck to extend the proposed closing date for the acquisition. A copy of the acquisition agreement and amending agreement are available on SEDAR.

Macquarie Capital Markets Canada Ltd. will act as bookrunner and lead agent and BMO Capital Markets and GMP Securities L.P. will act as co-lead agents in a syndicate of agents including Dundee Securities Corporation, Scotia Capital Inc. and Jones Gable & Company Limited in connection with the proposed offering. The terms and price of the special warrants will be determined in the context of the market and fixed on the day of execution of a definitive agency agreement.

The net proceeds from the offering are intended to be used for the acquisition of the Morelos Project, feasibility and development programs, and exploration at the Morelos Project, and for general working capital purposes.

Closing of the offering is anticipated to occur in the fourth quarter immediately prior to the acquisition of the Morelos Project. The closing of the offering is subject to entering into a definitive agency agreement and the satisfaction of certain conditions, including receipt of all necessary regulatory approvals, including from the TSX-V, and all other required approvals and consents. The Agents will receive a commission of 5.5 per cent of the gross proceeds raised in the offering in cash. The Agents will also receive compensation options equal to 1.0 per cent of that number of special warrants issued in connection with the offering.

Gleichen is pleased to announce that Fred Stanford has agreed to join the Company as director and incoming President & CEO upon the closing of the offering. Mr. Stanford is a highly qualified mining executive with nearly 30 years experience in the mining business. Mr. Stanford worked at Vale Inco (formerly Inco Limited) from 1981 to June 2009 holding senior management and executive positions including vice president of Business Services, Milling, Smelting and Refining and culminating as President of Vale Inco’s Ontario operations. Michael Murphy, Gleichen’s current President & CEO, will remain with Gleichen as a director.

Also at the time of the closing of the offering, Terry MacGibbon, Frank Davis, and Andrew Adams will be appointed to the Gleichen board of directors. Gleichen has called a special meeting of shareholders for November 26, 2009 to, in part, elect some of the new directors.

Terry MacGibbon is a registered professional geologist with over 35 years of international experience in the mining business. Mr. MacGibbon is the founder, Chairman and the CEO of FNX Mining Company Inc., a TSX-listed Canadian mining company that has emerged over the past five years from a junior exploration company into a mid-tier diversified Canadian mining company that produces nickel, copper, cobalt, platinum, palladium and gold from its mineral properties located in the Sudbury, ON, Canada mining camp. Mr. MacGibbon is a certified director, Institute of Corporate Directors, and has held directorships and senior executive positions in several TSX and TSX Venture public mining companies. Frank Davis is a partner of the law firm Fraser Milner Casgrain LLP, practicing principally in the areas of securities and capital markets, corporate finance, mergers and acquisitions and mining. He represents various public companies and investment banking firms in public and private offerings of equity and debt securities. He has acted as counsel to offerors, target companies and financial advisors in both hostile and negotiated merger and acquisition transactions and has been active in a variety of take-over bids, mergers, acquisitions, amalgamations, arrangements and divestitures. Mr. Davis holds a B.Comm., LLB and M.B.A., all from the University of Toronto, and is a director of several TSX and TSX.V companies. Andrew Adams obtained his Bachelor of Science Degree from Southampton University and qualified as a Chartered Accountant in the United Kingdom in 1981. He worked for the Anglo American group of companies for 12 years up to 1999, his final position being Vice President and Chief Financial officer of AngloGold North America based in Denver, Colorado. Mr. Adams worked for Aber Diamond Corporation as Vice President and Chief Financial officer from 1999 to 2003. Currently he serves as an independent non-executive director of Uranium One Inc.

]]> http://calichebahada.wordpress.com/2009/10/13/interesting-trading-today/ Tue, 13 Oct 2009 19:17:15 +0000 calichebahada http://calichebahada.wordpress.com/2009/10/13/interesting-trading-today/

MDL in Toronto is still being accumulated with some larger trades and GMP buying over a million shares. Haywood also in for over 100K

some interesting crosses on OLE as well .. Research crossing 380k and 300K all at .90

this game is getting interesting.. some heavy hitters getting warmed up to slug it out in senegal!!

hold on to your shares this is going to be great!!

GMP bought another 4.5 million shares today .. they are up to about 39 million shares with toll cross right now.. someoene is accumulating MDL on the sly through the TSX!!!

Oromin drills four metres of 196.3 g/t gold at Epsilon
Ticker Symbol: C:OLE

Oromin drills four metres of 196.3 g/t gold at Epsilon

Oromin Explorations Ltd (2) (C:OLE)
Shares Issued 94,717,035
Last Close 10/6/2009 $0.81
Wednesday October 07 2009 – News Release

Mr. Chet Idziszek reports:

OROMIN EXPLORATIONS LTD.: EXPLORATION CONTINUES TO PROVIDE ENCOURAGING RESULTS FROM VARIOUS SABODALA PROPERTY DEPOSITS AND PROSPECTS

HIGHLIGHTS

TRENCH RESULTS FROM KOBOKOTO ALPHA INCLUDE:

483.7 g/t gold over 6 metres
DRILLING AT THE EPSILON DEPOSIT CONTINUES TO INTERSECT HIGHER GRADE MINERALIZATION INCLUDING:

196.3 g/t gold over 4 metres near surface in DH-522
27.8 g/t gold over 3 metres near surface in DH-520
58.1 g/t gold over 1 metres in DH-524
SUCCESSFUL DEEP DRILLING AT THE GOLOUMA WEST DEPOSIT INCLUDES:

17.54 g/t gold over 10 metres in DH-539
SUCCESSFUL DEEP DRILLING AT THE GOLOUMA SOUTH DEPOSIT INCLUDES:

8.26 g/t gold over 11 metres in DH-519
NEW DISCOVERY AT KOTOUNIOKOLLA WITH ROCK SAMPLE RESULTS UP TO 269.4 G/T GOLD

Oromin Explorations Ltd. (“Oromin”) (TSX:OLE)(OTCBB:OLEPF), on behalf of the Oromin Joint Venture Group (“OJVG”), is pleased to provide an exploration update for the ongoing exploration program at its Sabodala Gold Project in eastern Senegal, West Africa.

Oromin is also pleased to report that Ken Kuchling, P.Eng., has been appointed as Oromin’s Vice-President of Engineering. Mr. Kuchling is a Professional Mining Engineer with 28 years experience in the operations and consulting industries with numerous commodities including gold, diamonds, potash, copper and molybdenum. Mr. Kuchling has a well-rounded engineering background, consisting of direct involvement in pre-feasibility and feasibility studies, international due diligence reviews, project permitting, mine geology, geotechnical engineering, tailings engineering, mine design and equipment selection. He holds a Bachelor’s degree in mining engineering from McGill University, a Master’s degree in mining engineering from the University of British Columbia and is a Registered Professional Engineer in Canada. Mr. Kuchling will oversee the optimization work currently underway as Oromin continues its development of Sabodala.

Recent exploration activities include in-fill and step-out resource drilling at the Epsilon deposit, step-out resource drilling towards delineating underground potential at both Golouma West and Golouma South deposits, trenching at Kobokoto, soil geochemical sampling at various target areas and prospecting at Maki Medina, and the newest discovery at Kotouniokolla.

EPSILON DEPOSIT

Drilling is continuing at the Epsilon deposit where multiple NE and NW trending quartz vein systems have been intersected in trenching and drilling within a surface area of approximately 400 metres by 400 metres. Drilling to date has intersected the main Epsilon vein systems over a minimum strike extent of 180 metres and consistently to depths of 150-200 metres below surface in multiple zones. The Epsilon vein systems remain open along strike and to depth.

Significant results from recent drilling at Epsilon are summarized in the following table:

———————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Co-ordinate Dip (m) (m) (g/t)
———————————————————————
DH-520 53553N/5410E 030/-45 48-51 3 27.79
incl.49-50 1 67.64
———————————————————————
DH-522 53553N/5410E 030/-60 52-56 4 196.27
incl.55-56 1 763.10
124-129 5 3.92
incl.127-129 2 7.56
———————————————————————
DH-524 53553N/5410E 030/-75 161-162 1 58.02
170-171 1 3.14
———————————————————————
DH-527 53585N/5350N 030/-45 7-8 1 16.74
———————————————————————
DH-529 53585N/5350N 030/-60 3-5 2 2.65
———————————————————————

Mineralized intervals are based on 1-metre samples utilizing a 1.0 g/t gold
cut-off level with a maximum internal dilution of 1 metre. No cutting of
gold assays has been employed for reported intervals. The attitude of
mineralized intervals varies and reported mineralized intersections may not
represent true widths.
A complete table of significant Epsilon drill results is attached in Schedule A.

GOLOUMA WEST AND GOLOUMA SOUTH DEPOSITS

Oromin has recently completed a series of deep drill holes at both the Golouma West and Golouma South deposits targeting higher grade mineralization down-dip from previously defined resources. These drill holes expand the mineralization beyond the current resource outlines and enhance the underground mining potential at both of these gold deposits. Significant results available from this recent deep drilling program are summarized in the following table:

—————————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Location Co-ordinate Dip (m) (m) (g/t)
—————————————————————————
DH-516 Golouma South 53116N/5033E 110/-75 207-210 3 4.09
215-218 3 3.53
—————————————————————————
DH-517 Golouma West 53355N/4658E 015/-70 265-266 1 9.55
275-279 4 6.27
incl.276-277 1 18.59
—————————————————————————
DH-518 Golouma South 53139N/5051E 110/-67 177-184 7 2.19
191-197 6 3.02
incl.192-193 1 7.89
incl.195-196 1 5.92
—————————————————————————
DH-519 Golouma South 53163N/4959E 110/-60 262-273 11 8.26
incl.265-272 7 12.24
incl.271-272 1 44.86
—————————————————————————
DH-521 Golouma West 53356N/4658E 015/-75 298-309 11 2.68
incl.305-309 4 4.73
314-318 4 2.13
—————————————————————————
DH-523 Golouma South 53163N/4959E 110/-67 270-282 12 3.43
incl.275-280 5 5.55
—————————————————————————
DH-526 Golouma West 53355N/4634E 015/-70 302-305 3 9.94
—————————————————————————
DH-528 Golouma South 53095N/5008E 110/-60 200-204 4 12.52
—————————————————————————
DH-539 Golouma West 53299N/4673E 015/-67 311-321 10 17.54
incl.314-319 5 31.46
incl.315-317 2 65.69
326-327 1 38.96
—————————————————————————

Mineralized intervals are based on 1-metre samples utilizing a 1.0 g/t gold
cut-off level with a maximum internal dilution of 2 metres. No cutting of
gold assays has been employed for reported intervals. The attitude of
mineralized intervals varies and reported mineralized intersections may not
represent true widths.

Additional deep drilling is scheduled towards better defining the underground mining potential at both Golouma West and Golouma South.

MASATO DEPOSIT

A number of drill holes completed along the strike length of the near surface Masato oxide deposit were drilled to provide detailed Specific Gravity Determination values and assist with geological interpretation of the oxide zones previously identified. This set of in-fill core holes provided some very encouraging interval widths and grades. Material from these drill holes has been collected under the supervision of Ausenco Minerals Canada Ltd. and submitted for detailed metallurgical test work focusing on the heap leach amenability for the Masato oxide resource. Significant results from these drill holes are summarized in the following table:

———————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Co-ordinate Dip (m) (m) (g/t)
———————————————————————
DH-452 60008N/4839E 110/-50 17-25 8 2.75
———————————————————————
DH-454 60337N/4898E 100/-55 9-36 27 2.85
———————————————————————
DH-457 60339N/4878E 100/-50 23-58 35 1.91
———————————————————————
DH-460 60365N/4903E 100/-50 7-18 11 2.60
27-39 12 3.98
incl.35-36 1 36.35
———————————————————————
DH-461 60431N/4894E 100/-50 6-38 32 1.13
incl.10-19 9 2.06
41-50 9 2.77
incl.42-43 1 11.18
———————————————————————
DH-463 60432N/4980E 240/-50 89-91 2 6.24
———————————————————————
DH-465 59810N/4700E 110/-50 51-62 11 2.61
———————————————————————
DH-467 59730N/4690E 110/-60 0-3 3 2.66
———————————————————————
DH-469 59626N/4617E 110/-50 3-12 9 2.60
incl.7-11 4 4.74
48-51 3 1.59
55-63 8 1.58
———————————————————————
DH-471 59585N/4615E 110/-45 28-49 21 1.47
incl.38-43 5 2.87
———————————————————————
DH-472 59550N/4595E 110/-50 9-12 3 1.59
———————————————————————
DH-473 59524N/4550E 110/-50 0-4 4 1.26
20-42 22 5.78
incl.36-38 2 48.54
69-76 7 1.63
———————————————————————
DH-474 59700N/4650E 110/-50 32-64 32 1.32
incl.32-34 2 4.36
and 54-57 3 3.10
———————————————————————
DH-475 59265N/4553E 110/-55 34-44 10 2.76
incl.36-38 2 5.67
54-57 3 2.61
64-68 4 1.48
———————————————————————
DH-478 59184N/4544E 110/-50 10-15 5 2.14
incl.10-11 1 7.32
63-83 20 3.08
incl.72-73 1 31.82
———————————————————————

Mineralized intervals are based on 1-metre samples utilizing a 0.5 g/t gold
cut-off level with a maximum internal dilution of 4 metres. No cutting of
gold assays has been employed for reported intervals. The attitude of
mineralized intervals varies and reported mineralized intersections may not
represent true widths.
REGIONAL EXPLORATION

KOBOKOTO ALPHA PROSPECT

The Kobokoto Alpha prospect is presently defined by a greater than 100 ppb gold-in-soil geochemical anomaly, displaying both NW and NE trending structures, over a 150-metre by 600-metre area. This target demonstrates one of the highest grade gold-in-soil anomalies anywhere on the OJVG Sabodala Property, with 15 soil samples in excess of 1.0 g/t gold including high values 10.8 g/t, 12.1 g/t and 29.3 g/t gold.

A series of excavator trenches completed over the Kobokoto Alpha anomaly has verified the two structural orientations. Two trenches in particular, TRX-316 and TRX-317, have both successfully intersected an undrilled NW-trending mineralized zone as follows:

TRX-316 2.91 g/t gold over 9 metres (including 6.66 g/t gold over 3 metres)
TRX-317 483.7 g/t gold over 6 metres (including 1,419 g/t gold over 2 metres)
Drilling is now under way at the Kobokoto Alpha Prospect.

NEW DISCOVERY – KOTOUNIOKOLLA

Recent prospecting has identified a new gold discovery, Kotouniokolla, located approximately 3.5 kilometres southwest of the Golouma South deposit. A detailed soil sampling grid over this area has outlined a greater than 100 ppb gold-in-soil anomaly measuring 250 metres in a NW-SE orientation and 450 metres in a NE-SW orientation. A total of ten rock samples, collected along an approximate 150-metre extent at Kotouniokolla, have returned favourable results including high values of up to 4.05 g/t gold, 5.42 g/t gold, 29.51 g/t gold and 269.4 g/t gold. The range of the results from these ten samples was 0.16 g/t gold to 269.4 g/t gold.

Additional prospecting, trenching and drilling are planned for the next phase of evaluation at Kotouniokolla.

Doug Turnbull, P. Geo., a “qualified person” for the purposes of National Instrument 43-101, has verified the data disclosed in this news release. William Bond, P. Geo., also a “qualified person” for the purposes of National Instrument 43-101, has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.

Oromin also reports that it has granted incentive stock options entitling the purchase of up to 75,000 shares of Oromin under its Stock Option Plan, subject to regulatory approval. The options are exercisable at a price of $0.90 per share until October 7, 2014.

To find out more about Oromin Explorations Ltd., visit www.oromin.com. Please refer to the maps which set out the Sabodala deposits and zones under “investor info/articles and reports” on the website, and our previous news releases, for additional project information.

On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.

Chet Idziszek, President

—————————————————————————
Schedule A
Epsilon Deposit
—————————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Co-ordinate Dip (m) (m) (g/t)
—————————————————————————
DH-67 3700N/5415E 150 degrees/- 145-147 2 25.07
45 degrees
—————————————————————————
DH-68 3661N/5462E 150 degrees/- 109-110 1 162.30
45 degrees
—————————————————————————
DH-70 3672N/5518E 182 degrees/- 85-87 2 1.91
45 degrees
—————————————————————————
DH-72 3661N/5462E 182 degrees/- 81-84 3 98.37
45 degrees incl. 81-82 1 289.00
—————————————————————————
DH-73 3661N/5462E 182 degrees/- 162-170 8 17.61
60 degrees incl. 163-166 3 38.36
—————————————————————————
DH-76 3700N/5415E 180 degrees/- 46-49 3 1.15
45 degrees
—————————————————————————
DH-456 3528N/5337E 030 degrees/- 104-106 2 13.09
50 degrees incl. 105-106 1 24.78
—————————————————————————
DH-503 3578N/5390E 030 degrees/- 17-20 3 12.72
45 degrees incl. 18-19 1 30.54
24-25 1 5.08
81-83 2 3.12
—————————————————————————
DH-504 3578N/5390E 030 degrees/- 19-21 2 6.75
50 degrees 33-34 1 15.43
—————————————————————————
DH-505 3559N/5396E 030 degrees/- 40-44 4 81.10
45 degrees incl. 41-43 2 160.96
94-97 3 4.65
incl. 94-95 1 12.93
—————————————————————————
DH-512 3559N/5396E 030 degrees/- 184-187 3 5.04
77 degrees incl. 185-186 1 13.39
—————————————————————————
DH-515 3537N/5384E 030 degrees/- 78-82 4 7.35
77 degrees incl. 80-81 1 22.02
230-231 1 113.90
—————————————————————————
DH-504 3578N/5390E 030 degrees/- 19-21 2 6.75
50 degrees 33-34 1 15.43
—————————————————————————
DH-505 3559N/5396E 030 degrees/- 40-44 4 81.10
45 degrees incl. 41-43 2 160.96
94-97 3 4.65
incl. 94-95 1 12.93
—————————————————————————
DH-512 3559N/5396E 030 degrees/- 184-187 3 5.04
77 degrees incl. 185-186 1 13.39
—————————————————————————
DH-515 3537N/5384E 030 degrees/- 78-82 4 7.35
77 degrees incl. 80-81 1 22.02
230-231 1 113.90
—————————————————————————
DH-520 53553N/5410E 030/-45 48-50 3 27.79
incl.49-50 1 67.64
—————————————————————————
DH-522 53553N/5410E 030/-60 52-56 4 196.27
incl.55-56 1 763.10
124-129 5 4.90
incl.127-129 2 7.56
—————————————————————————
DH-524 53553N/5410E 030/-75 161-162 1 58.02
170-171 1 3.14
—————————————————————————
DH-527 53585N/5350E 030/-45 7-8 1 16.74
—————————————————————————
DH-529 53585N/5350N 030/-60 3-5 2 2.62
—————————————————————————
RC-170 3568N/5486E 030 degrees/- 76-79 3 50.39
50 degrees incl. 76-77 1 122.40
—————————————————————————
RC-173 3578N/5469E 030 degrees/- 69-71 2 8.08
50 degrees incl. 69-70 1 15.60
—————————————————————————
RC-174 3560N/5459E 030 degrees/- 89-93 4 12.50
50 degrees incl. 91-92 1 41.19
—————————————————————————
RC-175 3573N/5444E 030 degrees/- 80-83 3 10.24
50 degrees incl. 81-82 1 28.33
—————————————————————————
RC-176 3590N/5454E 030 degrees/- 51-56 5 19.97
50 degrees incl. 54-56 2 49.93
—————————————————————————
RC-177 3608N/5464E 030 degrees/- 38-41 3 16.33
50 degrees incl. 38-39 1 30.32
—————————————————————————
RC-267 3568N/5486E 030 degrees/- 61-64 3 1.50
60 degrees
—————————————————————————
RC-268 3568N/5486E 30 degrees/- 153-156 3 5.00
68 degrees 159-164 5 7.40
incl. 160-161 1 29.25
167-173 6 13.08
incl. 167-170 3 23.75
—————————————————————————
RC-578 53553N/5375E 030 degrees/- 56-68 12 10.20
50 degrees incl. 56-63 7 17.13
incl. 60-61 1 107.00
125-127 2 6.83
—————————————————————————
RC-579 53501N/5345E 030 degrees/- 192-204 12 23.53
50 degrees incl. 195-196 1 76.75
and 199-202 3 60.14
incl. 201-202 1 128.90
209-217 8 16.54
incl. 213-217 4 32.48
incl. 215-216 1 114.40
—————————————————————————
RC-637 1453565N/815383E 030 degrees/- 35-42 7 24.56
50 degrees 36-38 2 83.10
—————————————————————————
RC-639 1453586N/815370E 030 degrees/- 15-22 7 4.13
50 degrees incl. 15-16 1 11.44
incl. 18-19 1 13.72

I was pleased to see gold trading at 1007 this morning as i woke. I think it has been building a base at 1000 and refuses to stay below that mark for any length of time. With gold appreciating the outlook for Oromin gets brighter and brighter. The larger gold stocks are not as highly leveraged to the price of gold as is Oromin. The NAV and IRR of the sabodala project improve greatly with any increase in gold over 900/oz. Notwithstanding any benefit from the current work being done on Sabodala to increase the economics from within. The combination of the price of gold going up and work being done on the ground, the project economics look a lot better than they did at the time of the Pre feas release. I understand it had a time constraint as it was tied to the application for a mining liscence. The application has been filed and a team will be going to the property to follow up on the application process. The general public and media are starting to look around for highly leveraged gold plays and when they find it in combination with an appreciating gold price we will make our money back and then some.

The stock depth is looking a lot better, i was told the Europe trip was a success. Looking at the trades there are 2 new buyers and i think they are european. Toll cross has been doing some crossing trades for some size. The depth is looking better than is has ever. There are some large bids that are in place and i think the sentiment is begining to turn.

One interesting point I made in a comment last week was the fact that someone is accumulating large blocks of MDL on the TSX. So far 30 million shares have changed hands this month with GMP and Toll cross being the big buyers, Credit Suisse is 3rd and has also begun accumulating oromin shares, and thanks to Muttley adding the fact that 30 or so million shares traded onthe ASX thats 60 million shares in a month.. interesting

There is a lot of speculation on the street about how the deal will go down. The truth is no one knows .. there are as i see it 4 players (maybe more) Oromin MDL Iamgold and Randgold. With mdl having the plant in place it makes sense to have mdl included in the deal. Will mdl be taken out first?.. i guess it depends who is taking up the shares in mdl..Iamgolds stake in Oromin will also play a role. They already have a head start so it looks like they are the front runner. But what if Oromin was to make a run at MDL! The combined company would have almost 7 million ounces and be in production with probably 4 million upgraded ounces. I have always said that Oromins property was a 10 million ouncer add mdl’s 3.5 and some blue sky we are at 13 – 15 million ounces .. all of a sudden Oromin is a significant mid tier producer going into the biggest gold rally of the last 25 years!..

Oromin and MDL have always had a good relationship..and remembering back to the merger mania of the 80’s the project synergy is there.. we have the oxides and the blue sky ounces on our property and MDl have the mill.. they need oxides and we need a mill ..

i see some pretty exciting times ahead with some big numbers being thrown around!

The TSX manual, applicable to companies listed on the Toronto Stock Exchange, currently requires that a listed company obtain approval from its shareholders if it intends to complete an acquisition of another company and, in the course of that acquisition, intends to issue shares representing more than 25% of its currently outstanding shares.  Since 2005 there has been an exemption to that shareholder approval requirement when a TSX listed company was acquiring another public company.   On September 25, 2009 the TSX announced that this exemption will be removed effective as of November 24, 2009.

After November 24, 2009 all acquisitions which involve the issuance of shares representing more than 25% of a TSX listed company’s currently outstanding shares will require shareholder approval.

The amendment follows a public consultation process initiated in October of 2007, which at one point saw the TSX propose a new 50% threshold for public company acquisitions.  According to the TSX, a majority of the submissions received were in favour of eliminating the exemption and in favour of applying the same 25% threshold to both private and public company acquisitions.

gold was kicked down hard today as the us dollar gained .. but it looks like gold is on its way back curently at 997.25 and the dollar looks to have peaked

i was looking through some old watch lists ans noticed MDL was at .95 aus.. WOW thats 500 million market cap ..with ole at 85 million and from what i remember MDL doesnt have that many more ounces than we do ..

the next thing i did was look at the volumes in canada on MDL .. nearly 30 million shares in the last few weeks!

anyone look familiar!

Toll Cross did the ole financing..

GMP .. high net worth brokerage in NA and europe.. HQ in london ..chet and the boys are in london Toll Cross taking them on a promo tour..hmmm

toll cross buying 3 million shares and GMP taking 25 million..

i say again … something is afoot.. bids on ole look better than they have ever 80000 shares bid at .80..

could we be on the eve of a move up .. i think so!

17 Records Returned

House Positions
Exch House Bought $Value Ave Sold $Value Ave Net $Net
93 Toll Cross 3,055,500 2,334,795 0.76 1,649,334 1,213,067 0.74 1,406,166 -1,121,728
74 GMP 25,051,102 21,107,130 0.84 23,780,204 20,054,376 0.84 1,270,898 -1,052,754
72 Credit Suisse 301,500 246,591 0.82 0 301,500 -246,591
73 Cormark 368,000 270,620 0.74 173,300 140,010 0.81 194,700 -130,610
7 TD Sec 150,800 110,209 0.73 72,800 47,340 0.65 78,000 -62,869
2 RBC 22,300 13,380 0.60 0 22,300 -13,380
11 MacQuarie 51,580 44,199 0.86 29,850 24,621 0.82 21,730 -19,578
88 Scotia iTRADE 11,000 9,260 0.84 5,000 4,090 0.82 6,000 -5,170
19 Desjardins 55,900 47,365 0.85 52,000 44,160 0.85 3,900 -3,205
85 Scotia 12,500 10,520 0.84 10,000 8,380 0.84 2,500 -2,140
81 HSBC 500 310 0.62 0 500 -310
99 Jitney 5,000 4,150 0.83 5,000 4,150 0.83
80 National Bank 1,100 894 0.81 35,500 22,925 0.65 -34,400 22,031
62 Haywood 100,000 69,750 0.70 225,000 187,785 0.83 -125,000 118,035
1 Anonymous 423,000 357,960 0.85 693,500 558,585 0.81 -270,500 200,625
9 BMO Nesbitt 125,646 87,355 0.70 1,297,909 979,188 0.75 -1,172,263 891,833
79 CIBC 25,750 18,612 0.72 1,731,781 1,444,423 0.83 -1,706,031 1,425,811
Total 29,761,178 24,733,100 0.83 29,761,178 24,733,100 0.83 0 0

i spoke with the office today about lund and the oromin trip to the denver gold show. The show was well attended with industry professionals and senior mining companies.. It was invite only so im glad oromin was there.

they said they had several meetings one of which was very productive! so all in all a very sucessful trip.

Toll Cross is taking Oromin on a European promotional tour starting this weekend they will be in london and geneva, im not sure where else, but it sounds like there is a head of steam building behind the stock as the depth market shows.. there are more bids and big ones at that than i have ever seen on this stock.

there are also big bids on lund.. i think about 400000 shares are bid now with the price moving up.

i bought 88000 a few weeks ago and 49000 today .. added to the pile i had already .. hoping the Don Don is big big!

lund NR as follows

Lund Gold granted option to acquire Don-Don

2009-09-17 17:15 ET – News Release

Mr. Chet Idziszek reports

LUND ACQUIRES THE DON-DON PROPERTY IN NORTHERN B.C.

Lund Gold Ltd. has, subject to regulatory approval, been granted the sole and exclusive option to acquire a 100-per-cent interest in 16 claims covering 6,105 hectares located in the Omineca mining division, province of British Columbia, known as the Don-Don property.

The Don-Don property is contiguous with claims belonging to Lysander Gold’s “Pinchi project” which have been recently optioned by Amarc Resources. The Don-Don property covers a portion of the Pinchi fault contact with the Duckling Creek syenitic phase of the Hogen batholith where alkalic porphyry copper-gold mineralization has been found to be associated with the Duckling Creek intrusive phases of the Hogen batholith locally. A large IP target occurs on the adjacent Lysander ground and is open to the west onto the Don-Don property which also hosts two large prominent electromagnetic (EM) airborne anomalies.

The Northern Quesnel trough area is very active with numerous companies exploring for porphyry-style copper-gold mineralization, including work in the north around Kemess and locally at the Lorraine property and to the south at Serengeti Resources’ Kwanika property and at Mount. Milligan. Lund plans to begin geophysical work shortly with a view to generating drill targets as soon as possible.

In order to exercise its option, Lund must pay the vendors a total of $203,000 over four years, issue a total of 650,000 shares of Lund over five years and incur exploration expenditures totalling $575,000 over four years. The vendors will retain a royalty equal to 3 per cent of net smelter returns, with Lund having the right to purchase, at any time, one-third of the royalty (being equal to 1 per cent of net smelter returns) by paying the vendors the sum of $2-million.