Wall Street News Alert: Breaking News Alert - HMSO! April 2, 2007
Market Wire, April, 2007
Wall Street News Alerts stocks to watch this morning are: Hemis Corporation (OTCBB: HMSO), Barrick Gold Corporation (NYSE: ABX), YAMANA GOLD INC. (NYSE: AUY) and ROYAL GOLD, INC. (NASDAQ: RGLD).
Hemis Corporation (OTCBB: HMSO) is another new stock to put on your radar and watch as Wall Street News Alert initiates coverage of the company. Friday the company, a precious metals exploration company, issued a press release announcing that it has signed an Earn-In agreement with Goldcorp Inc. through its Mexican subsidiary Glamis Exploration S.A. de C.V ("Goldcorp") and Corex Gold Corp.
This could be big news. Goldcorp is the worlds second largest gold company. Under the Agreement Goldcorp has the right to earn up to an 80% interest in Corex's Santa Rita and Zuloaga (collectively "Santa Rita") concessions in the states of Zacatecas and Coahuila.
The Santa Rita Property encompasses 39,878 hectares and is located in the Sierra Madre Oriental, which is approximately 15 km from Goldcorp's Peñasquito deposit. The Santa Rita property is also near the Concepcion del Oro mining district. Past production from this district is estimated at 250 million ounces of silver and 1.5 million ounces of gold.
Regarding the Peñasquito property and according to the press release, Goldcorp has reported that as of June 2006 Peñasquito has proven and probable gold reserves totaling 9.98 million ounces. Silver reserves were 575 million ounces while lead and zinc totaled 1.67 million tonnes and 3.62 million tonnes respectively. Initial mine start up is expected in late 2008 with full production reached by late 2009.
Norman Meier, President of Hemis Corp., states, "With the advance towards production at Goldcorp's Peñasquito mine we are extremely pleased to have a company of Goldcorp's reputation and experience working our landholdings in Mexico.
Wall Street News Alert is placing Aggressive Investors on alert to monitor the progress of Hemis Corp! The press release states that the Earn-In agreement provides that Goldcorp can Earn-In to a 70% interest in the Zuloaga property by spending US $4,000,000 over a 5-year period and paying Corex Gold US $150,000 over an 18 month period. Goldcorp shall have the option to increase its interest from 70% to 80% upon paying 100% of the expenditures associated with placing the Property or any part thereof, into commercial production based on a mine development project approved for all or part of the property, with 20% to be repayable to Glamis from Corex Sub's related project cash-flows, or arranging the proportionate share of a debt financing.
Continue to watch this company. In connection with entering into the Earn-In Agreement, Corex Gold and Hemis Corporation agreed to replace Hemis' option to acquire a 49% interest in Corex Gold's Santa Rita property (June 26, 2006) with an option to acquire a 49% interest in Corex Gold's interest in the Santa Rita property upon payment to Corex Gold US$950,000 and 200,000 shares of Hemis Corporation over 2 years.
Prior to the press release, the stock closed Friday at $1.35 a share.
For Wall Street News Alerts in-depth profile of Hemis Corporation, visit http://www.wallstreetnewsalert.com/HMSO040107
In case you are not familiar with the company: Hemis Corporation is a precious metals exploration company trading on the OTCBB under the symbol HMSO and listed on the Frankfurt stock exchange under the symbol XZA. Hemis Corporation is comprised of both a resource division and a resource investment unit. Hemis high profile team is focused on evaluating gold projects with strong potential. The resource investment unit is actively reviewing other natural resource companies for joint ventures and investment.
Hemis is incorporated in Nevada, USA with its head office in Zurich, Switzerland and North American corporate communications representatives in Canada and the United States. Led by an experienced team of exploration geologists and financial professionals, this company has extensive international capital markets experience and proven track records.
To view all of Wall Street News Alert's special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com , where you may also sign up to receive free email alerts in advance of our press releases being issued.
Barrick Gold Corporation (NYSE: ABX) down 1% on 3.6 million shares traded. Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
YAMANA GOLD INC. (NYSE: AUY) up 0.2% on 3.9 million shares traded. Yamana is a Canadian gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America.
ROYAL GOLD, INC. (NASDAQ: RGLD) down 1.1% on 235,000 shares traded. Royal Gold is one of the largest precious metals royalty company engaging in the acquisition and management of precious metal royalty interests.
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