Vena

[El_Diez]

Para mi..... en esta semana va a tener una ligera corrección para luego volver a subir

[Victor VE]

Ya estoy adentro casi un año, salirme ahorita seria mas de lo mismo. Sigo nomas, mantengo por ver qué pasa.

[Victor VE]

Que opinan de VEM para esta semana? seguira con su racha alcista o corregira, cual es su nuevo soporte o posible techo? Que dicen los analistas tecnicos o fundamentales.

No encuentro el email q mandó alguien de Kallpa, y q lo publicaron en el foro, me parece referente al valor fundamental de VEM cuando hubo el problema de los reactores nucleares en Japon durante el terremoto. Bien explicadito lo dijo, el valor fundamental en ese tiempo estaba en US$0.51 si mal no me equivoco y ya mencionaba algo de este tema del zinc.

[Victor VE]

"Generar valor a los accionistas a través de escisiones."

[Victor VE]

Ese pdf de VEM esta fuerte, casi me hizo babear.

[daniel_ocean]

Victor, la valorización que comentas la encontré en el foro Invergroups (Abril 2011) no la había vuelto a ver desde esa fecha. Lo curioso es que valorizaban a Azulcocha sola (sin Macusani) en $ 0.35, justo el valor al cual llegó en estos días de veloz alza.


________________________________________________________

KALLPA reajusta el Valor Fundamental de Vena Resources

Luego del peor terremoto en 111 años y posterior tsunami devastador en Japón, el temor de los inversionistas se centra en los reactores nucleares I y II de Fukushima – Daiichi en el norte del país. ¿Por qué? En primer lugar porque el incidente ha sido anunciado como un incidente de categoría 4 en la escala internacional de 7, uno de los peores en la historia, luego de Chernobil (Ucrania) y Three Miles Island (Estados Unidos). Más alla de las consecuencias ambientales de un posible desastre nuclear, esto afectaría no solo la economía japonesa o regional si no a todo el mundo. Alrededor del 25% de la energía en Japón proviene de fuentes nucleares pero en países como Francia, Alemania y Estados Unidos estos representan el 76%, 25% y 48%, respectivamente. Angela Merkel anunció ayer el cierre de siete plantas nucleares antiguas en Alemania para una severa revisión. No me sorprendería que países en la Eurozona y Canadá señalen medidas preventivas en los próximas semanas.

En conclusión, creemos que el consumo y suministro de uranio y otros metales radioactivos continuará; no obstante, el panorama es incierto en el corto plazo. No se sabe cuándo estas empresas reiniciarán operaciones y se restablecerá el consumo normal de uranio. Las principales empresas productoras de uranio han registrado severas pérdidas: Cameco (TSX: CCO), Uranuim Energy Corp (AMEX: UEC). Empresas mineras juniors exploradoras de uranio en el Perú han mostrado el mismo comportamiento, como se puede apreciar en la tabla a continuación.

Efectos en la Valorización de Vena Resources.-

En diciembre de 2010, KALLPA SAB otorgó un valor fundamental de US$ 0.58 a Vena Resources (BVL: VEM), únicamente tomando en cuenta sus dos proyectos más desarrollados: Azulcocha (zinc) y Macusani (uranio). El aporte de Azulcocha y Macusani en el valor de Vena Resources representaba el 60% y 40%, respectivamente.
Macusani es un proyecto de exploración de uranio, JV con Cameco Corp (TSX: CCO). Cameco (25% dueño del proyecto) es el principal productor mundial de uranio, suministrando alrededor del 20% de la demanda mundial del metal. Asimismo, Cameco posee la opción de incrementar su participación en el proyecto Macusani de 25% a 70% al terminar el Estudio de Factibilidad e iniciar operaciones.
Muchos inversionistas creen que el presente acontecimiento puede marcar un cambio en las políticas gubernamentales para la producción y suministro de energías nucleares, lo cual podría generar consecuencias en el demanda y precio del uranio. Asimismo, la incertidumbre en relación al suministro mundial de uranio podría influir en la decisión de algunas empresas en incrementar su participación en proyectos de exploración intermedia.

Escenario I (probable)

Manteniendo nuestro supuestos para valorizar Macusani y utilizando un valor para la libra de uranio in situ de US$/lb. 4, pero castigando el valor fundamental en 35% por el mayor riesgo que implica un cambio fundamental en la demanda mundial de uranio (antes el descuento era 20% por ser junior) el valor fundamental de Macusani se reduce de US$ 0.23 a US$ 0.18.
Bajo este escenario, el valor fundamental de Vena (Azulcocha + Macusani) caería de US$ 0.58 a US$ 0.53

Escenario II (improbable, pero posible)

Si mantenemos constante los precios de zinc, utilizados en la valorización de Azulcocha y le otorgamos un valor de cero a Macusani, el valor fundamental de Vena (únicamente Azulcocha) caería a US$ 0.35. NO creemos que el valor de Macusani sea CERO, solo estamos haciendo sensibilidad de precios para que los clientes puedan tomar decisiones de inversión bien informados. Ahora, el riesgo de esta posibilidad es baja, pero a medida que Cameco pueda tener problemas en la demanda de uranio, los problemas de Vena serían mayores, pues CAMECO es su socio estratégico en Macusani.

En conclusión, si se asume que Macusani vale cero, el valor fundamental de VEM es de aprox US$ 0.35 y si se incrementa el descuento a 35% (lo más razonable, creo yo), vale US$ 0.53. Si hacemos un poco de juego de números, podríamos asumir que en estos momentos de incertidumbre, un precio razonable referencial para el valor fundamental de Vena se situaría entre estos dos precios (promedio es US$ 0.44), hoy US$ 0.36.

Kallpa Securities SAB

[Luis04]

Para mi..... en esta semana va a tener una ligera corrección para luego volver a subir

Buen dato EL_Diez, hasta cuanto crees que baje.

[Luis04]

Vena's Partner Trafigura Invests US$7 Million to Move Azulcocha Zinc Mine to Production
Press Release: Vena Resources Inc. – 10 hours ago
TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) - Vena Resources Inc. (TSX:VEM.TO - News)(LMA:VEM.TO - News)(FRANKFURT:V1R.F - News)(OTCBB:VNARF.PK - News), a Company with strong partnerships with four of the world's largest mining companies, is pleased to announce that it has enhanced its agreement with Trafigura Beheer B.V. ("Trafigura"), a privately-held international commodity trader, to invest immediately in the Azulcocha project with the goal to increase the known resources/reserves and begin commercial mining and milling operations this quarter.

To advance the core agreement already in place, Trafigura will lend to Azulcocha Mining SA, a 70% controlled subsidiary of Vena, US$7 million at a rate of Libor + 4.25% and, in consideration for the loan, Vena has issued 4,016,913 warrants to Trafigura, with 2,272,727 of such warrants being exercisable into common shares at a price of US$0.30 per common share until May 6, 2013, and 1,744,186 of the warrants being exercisable into common shares at a price of US$0.35 per common share until November 6, 2013. The warrants that were previously held by Trafigura expired on February 6, 2012.

Juan Vegarra, Chairman and CEO of Vena commented: "Having a strong partner like Trafigura has made putting Azulcocha into production much more efficient and less risky to our shareholders. We expect to continue to enjoy a fruitful relationship with Trafigura as Azulcocha becomes fully operational later this month and expect to grow organically from now on."

In additional news, Matthew Husson, an associate lawyer with Irwin Lowy LLP that has significant experience representing publicly-listed mining companies has been appointed as Corporate Secretary. Matthew Husson replaces Charlotte May, one of the founding officers of Vena. The entire Company is thankful for all her years of service and wishes her the best in her future endeavors.

For further information on Vena Resources, please visit the Company website at www.venaresources.com, or its Facebook page.

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.


Shares Outstanding: 124,601,658 Fully-Diluted: 153,578,300
The TSX does not accept the responsibility for the adequacy or accuracy of this release.

..Contact:.
.Juan Vegarra
Vena Resources Inc.
Chairman & CEO
(416) 364-7739, ext. 120
416-364-5400 (FAX)

[gabrielfm]

Estimados;

Adjunto enlace de su interes, con respecto a VENA; http://www.ipragma.org/2012/02/vempe-ve ... -17112011/

[Mr. Gold]

Estimados;

Adjunto enlace de su interes, con respecto a VENA; http://www.ipragma.org/2012/02/vempe-ve ... -17112011/

No comparto, yo creo que va a cerrar el GAP

[Luis04]

Gap

Los huecos o gaps son áreas del gráfico en las que no se ha cruzado ninguna operación, es decir áreas en las que la curva de cotizaciones forma un hueco o salto. Generalmente los gaps representan una señal de fuerza en el movimiento o tendencia de las cotizaciones, tanto en movimientos alcistas o bajistas, y se producen cuando entre dos sesiones ha aparecido alguna noticia, rumor o simplemente un sentimiento generalizado capaz de modificar intensamente el comportamiento de los inversores. Si la noticia es positiva los nuevos compradores no encuentran nadie que quiera vender a los precios anteriores, por lo que la nueva cotización será mucho más alta que la ultima, dejando entre ambas un hueco o gap. Por el contrario, si la noticia es negativa la avalancha de vendedores no encuentra ningún comprador que esté dispuesto a pagar los anteriores precios y cae fuertemente antes de que se produzcan las primeras compras, dejando también un hueco o gap entre la cotización de la sesión anterior y la cotización de la sesión actual.

Si bien la aparición de un gap representa fortaleza en el movimiento desarrollado, en ocasiones la cotización pierde fuerza tras el movimiento y la curva de cotizaciones retrocede hasta que llega a la altura en que estaba el gap, e incluso puede llegar a recuperar la antigua tendencia. Es lo que en la terminología chartista se conoce como “cerrar el gap” o “tapar el hueco”. La explicación a este hecho se basa en que, dada la explosión de fuerza que representa el gap, los inversores reflexionan en frío tras el movimiento y piensan que su reacción ha sido muy emocional por lo que deshacen posiciones, provocando que la cotización vuelva a sus antiguos niveles. Posteriormente la curva de cotizaciones recupera el camino, pero sin los excesos que produjeron el gap.

Los analistas técnicos distinguen tres tipos de gaps:

Gaps de ruptura (breakaway gap): suelen darse al final de una figura chartista (por ejemplo, la ruptura de un triángulo) o cuando se supera una línea de resistencia y suele marcar el principio del movimiento. Suelen ir acompañados de un fuerte volumen de negocio, como es habitual en las rupturas fuertes de las figuras chartistas y constituye una buena señal para entrar en el mercado.

Gaps de continuación (measuring gap): suelen producirse hacia la mitad del movimiento esperado después del gap de ruptura. A veces se producen varios gaps de continuación prácticamente uno tras otro, lo cual es señal de fortaleza del movimiento, y deben interpretarse como una señal de continuidad.

Gaps de agotamiento (exhaustion gap): aparecen al final de un movimiento, después de los correspondientes gaps de ruptura y de continuación, constituyendo una buena señal de cambio de tendencia. Cuando esto ocurre, los precios se suelen mover en bandas de precios muy estrechos para luego producirse gaps bajistas. En general, los gaps por si solos constituyen figuras chartistas con pobres señales de compra o venta, pero son muy interesantes para confirmar otras figuras o análisis chartistas.

[Mr. Gold]

TORONTO, ONTARIO--(Marketwire - Feb. 16, 2012) -
NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.
Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA:V1R.DE), a company with strong partnerships with some of the world's largest mining companies, is pleased to announce that it is preparing to drill a promising gold target on its Gianderi property located in the Huamachuco gold district of northern Peru. The district is a well established mining area that is host to several of the more important precious metal mines in Peru including Barrick Gold's Lagunas Norte mine, COMARSA's Santa Rosa mine, Panamerican Silver's historic Quirivilca mine and the La Arena mine where Rio Alto recently initiated gold production as well as a number of other smaller producers. A portable drill has been mobilized to the property and drilling is expected to commence this week. Eight holes are planned for the initial program for a total of approximately 2,000 metres.
The Gianderi property covers Jurassic - Cretaceous sediments that have been intruded by a Tertiary monzonite that hosts the Compaccha porphyry Mo-W-Cu deposit. The area of interest is approximately two kilometres north of the porphyry where a small magmatic caldera has developed that exposes mineralized sandstone units of the Chimu formation overlying the calcareous shale units of the Chicama formation. A NE-SW striking vein/ hydrothermal breccia zone outcrops in the sandstone over a length of approximately 700 metres that is highly anomalous in gold-silver with spot values up to 9 g/t Au and 910 g/t Ag. Although a worthwhile target in its own right this structure is not the principal focus of the exploration program.
The model that is being used to guide the exploration program is taken from the Santa Rosa open pit gold mine of COMARSA that is located about seven kilometres to the south of Gianderi. The vein/ hydrothermal breccia structure is considered to be a potential feeder zone to manto style deposition in favorable porous sandstone horizons that are capped by interbedded orthoquartzite units. There are four known receptive horizons including the basal contact of the sandstone with the underlying shale.
The exploration program consisted of collecting 597 rock geochemical samples and performing an induced polarization geophysical survey of 21 line kilometres to complement the detailed geological mapping of the area. A compilation of the results is shown on the accompanying map. A program of eight diamond drill holes totaling 2,000 metres will test the hydrothermal breccia, the two flanking chargeability anomalies and the eastern and western zones of coincident geochemical/ chargeability anomalies near the contact with the underlying shale.
David Bent, Vice President of Vena stated, "In the past decade the Chimu sandstone has emerged as one of the major gold hosting formations in Peru and we feel that the Gianderi property has a good chance of joining the series of recent discoveries in the Huamachuco district."
To view the figure associated with this press release, please visit the following link:
http://media3.marketwire.com/docs/766789.jpg
This press release has been reviewed and approved by David Bent, P. Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent.
For further information on Vena Resources, please visit the Company website at http://www.venaresources.com or its Facebook.
Statements in this press release regarding the Company's business, plans, intentions, proposed transactions and financing plans, which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 124,601,658
Fully-Diluted: 153,379,268
The TSX does not accept the responsibility for the adequacy or accuracy of this release.

[Luis04]

03/01/2012 | 11:24am
Vena Resources Inc. : Vena Confirms High-Grade Polymetallic Structures at Azulcocha Mine
TORONTO, ONTARIO--(Marketwire - March 1, 2012) -

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.

Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA:V1R.DE), a company with strong partnerships with some of the world's largest mining companies, is pleased to announce that Azulcochamining S.A., a company owned by Vena and Trafigura Beheer B.V. (70/30) has initiated the testing phase of the processing plant for the Azulcocha zinc mine. The testing of the mill's construction quality coincides with the completion of the initial phase of the tailings impoundment that has been designed to be expanded as required in a series of stages to a maximum capacity of about 8 million tonnes. Vena is awaiting final government construction inspection before commissioning mill and underground operation at full capacity.

Mr. Juan Vegarra, Chairman and CEO of Vena stated, "We are striving to double the mill capacity and to double the near-mine resources as soon as possible. Polymetallic systems like Fierromina and a series of newly discovered high-grade veins are welcome news as we can foresee significant credits from silver, gold, copper and lead mineralization improving the economics of the overall project."

As part of the exploration of the mine property, a 2 metre x 2 metre adit is being driven on the Fierromina structure that is host to surface showings of high grade zinc. The adit is presently at 29 metres following the N20ºE striking Fierromina transverse fault and is designed to explore beneath the main outcropping sulfide lens that assays up to 25% zinc at surface. The objective is to explore for near term additional resources both along the structure and within potential manto deposits that are oblique to the structure where sulfides have been deposited in favorable sedimentary beds in rocks that form the hanging wall of the Azulcocha mine as shown in the attached map.

Channel samples were cut in the walls and back (two samples across the back) of the adit at approximately 2 metre intervals measured from the portal except in cases where there was no visible mineralization. The mineralization is dominantly sphalerite/ galena in a quartz gangue and in contrast to the mine there are irregular high values in silver. The best zone to date has been in the interval from 7 metres to 22 metres measured from the portal that has values up to 17.5 % Zn, 4.8 % Pb and 62.8 g/t Ag. The true width of the zone will not be known until cross cuts have been driven into the NW and SE sides of the adit.

By continuing to drive the Fierromina adit an additional 135 metres to the north it will be possible to intersect another mineralized structure (Vein 02) that has been sampled in outcrop and shallow trenches over a horizontal distance of approximately 800 metres between the Fierromina and Laguna faults. This mineralized structure strikes at N65ºW and has an average dip of 72ºNE with widths varying from 0.30 to 4.0 metres and an average width of 1.45 metres. A total of 90 samples were taken from the trenches and outcrops with values ranging from geochemically anomalous to a peak values of 0.35 g/t Au, 72.3 g/t Ag, 309 ppm Cu, 8.35% Mn 1.02% Pb and 19.99 % Zn.

David Bent, Vena's Vice President of Exploration stated, "Now that we can literally see the end of the tunnel in bringing the Azulcocha mine into production and the rainy season is abating, the geology staff can accelerate this exciting task of identifying new resources to increase the mine life and mill capacity. The program will include targets within the mine and near the mine as well as an assessment of the 14,600 hectares of prospective land that we hold in the Azulcocha-Cercapuquio corridor. Targets will be prioritized in accordance with their potential to provide near term resources that can be fast tracked to production to provide feed for the scalable mill."

To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/vena31.jpg.

This press release has been reviewed and approved by David Bent, P. Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent.

For further information, please visit the Company website at www.venaresources.com or its Facebook page.

Statements in this press release regarding the Company's business, plans, intentions, proposed transactions and financing plans, which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

[Mr. Gold]

TORONTO, ONTARIO--(Marketwire - March 15, 2012) -

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US.
Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA:V1R.DE), a company with strong partnerships with some of the world's largest mining companies, is pleased to announce that it has acquired historical drill data indicating multiple horizons of zinc mineralization in a land package controlled 100% by Vena Resources located approximately four to five kilometres east of the existing Azulcocha mill.
Vena acquired a report summarizing the 1974 drill campaign by Compania Minera Gran Bretana, former operators of the Azulcocha zinc mine, to explore for additional resources to the east of the mine. The information is in the form of internal monthly reports written by the Chief Geologist that summarize the drilling progress for the period February through May 1974. Although the drill hole report is not National Instrument 43-101 compliant, Vena staff has verified the existence of the drill platforms in the field and have found trenches that have surface mineralization up dip from several of the mineralized intersections. The significant drill hole intervals and assays are shown in the adjacent table. It should be noted that the widths in the table below are core lengths - not true widths. The core from the drill holes has been lost and is not available for re-logging. The report contains assays for zinc, manganese, arsenic and iron but apparently assaying did not include silver and lead.
To view the table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/VenaTable.jpg.
David Bent, Vice President, Exploration for Vena stated, "The acquisition of the Gran Bretana exploration data has given Vena a running start in our efforts to identify additional resources for the Azulcocha mill. The zinc grades and intersection lengths in the old holes are very significant for Vena and if verified by hole twinning will be the target of a major drill program during 2012. The mineralization appears to be sedex in origin meaning that the tonnage potential could be substantial, as attested by the wide separation between the old holes. The manto deposits in the Chunumayo formation are typically very persistent both along strike and down dip with widths varying from two to ten metres and high grades of zinc plus lead with accompanying silver and cadmium and significant quantities of germanium."
Preliminary examination of the old drill data and field observations indicate that the zinc mineralization at Azulcocha East is in the Chunamayo formation that is a sequence of limestone-sandstone-shale-tuff that hosts the primary mineralization underlying the karst breccia ore at the Azulcocha mine. Early indications are that there are three mantos identified in the old drill holes. An interpretative section is attached that shows our understanding of the relationship between the individual mantos. The mineralization is interpreted as being of sedex origin which means that continuity along strike and down dip could be extensive and can only be determined through drilling.
The immediate plan for the area is to complete detailed geological mapping aided by trenching to outline the surface expression of the three mantos. At the same time an application will be prepared for a drill permit that will allow for twinning a couple of the old holes followed by systematic step outs both along strike and down dip of the mantos to determine the potential tonnage and grade.
Juan Vegarra, Chairman and CEO of Vena Resources stated, "The Azulcocha East area has the potential to play a vital role in our stated objective to increase mill capacity to 2,000 tonnes per day as well as extending the operational life of the mine. The confirmation and delineation of this potential near mine resource has become a top priority for our exploration team."
To view the map associated with this press release, please visit the following link: http://file.marketwire.com/release/venamap.jpg.
This press release has been reviewed and approved by David Bent, P. Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI 43-101. Vena's exploration and development programs are being supervised by Mr. Bent.
For further information on Vena Resources, please visit the Company website at www.venaresources.com or its Facebook page.
Statements in this press release regarding the Company's business, plans, intentions, proposed transactions and financing plans, which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 124,601,658
Fully-Diluted: 153,379,268
The TSX does not accept the responsibility for the adequacy or accuracy of this release.

[Mr. Gold]

VENA SIGNS DEFINITIVE AGREEMENT TO FORM GRANJA GOLD INC.

/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE US./
Shares Outstanding: 124,601,658
Fully-Diluted: 154,328,300

TORONTO, March 28, 2012 /CNW/ - Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM) (LIMA: VEM) (Frankfurt: V1R) (OTCBB: VNARF) (Xetra®: V1R.DE), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce that it has signed a definitive agreement with Urban Select Capital Corporation ("Urban Select"), an investment group with offices in Hong Kong, China and Canada (TSXV: CH), to build a new company focused on gold exploration and development in northern Peru. The companies have applied for listing of the shares of Granja Gold Inc. ("Granja Gold") on the TSX Venture Exchange ("TSXV") and will apply to the venture segment of the Lima Stock Exchange soon thereafter.
Urban Select is global investment management, financial advisory and private equity firm focused on investing growth capital into private and public companies in a broad range of sectors including natural resources, renewable energy, chemicals, agriculture and consumer retail services. It is expected that, upon completion of the transaction, Granja Gold will acquire 100% of Vena's shareholdings in Granja de Oro Inversiones Mineras SAC ("Granja de Oro"), a Peruvian company 100% controlled by Vena that owns three early stage exploration projects in northern Peru (Granja Nueva, JR-24 and Masma).
The transaction, among other terms, provides for Granja Gold to issue 10 million shares to Vena in consideration for its interest in Granja de Oro and for an additional 6.3 million performance earn-in shares to be issued to Vena based on certain criteria being achieved in respect of measured or indicated resources included in a future National Instrument 43-101 report.
Granja Gold, utilizing Urban Select as a finder, intends to complete a non-brokered private placement of up to $3,000,000 consisting of up to 20 million common shares of Granja Gold (or subscription receipts convertible into common shares) at a price of $0.15 per unit. Each unit will consist of one common share and one half common share purchase warrant exercisable for a period of two years at a price of $0.30 in the first year or $0.45 in the second year. The proceeds of the private placement will be utilized for exploration and G&A expenses of Granja Gold for the next 12 months and for TSXV listing qualification.
The Granja Gold board of directors includes:
Juan Vegarra, MBA, Chairman & CEO - Mr. Vegarra is a native of Peru and continues to foster his significant base of contacts within both the Peruvian government and the mining industry. Prior to his appointment as Chairman and CEO of Vena in 2003, Mr. Vegarra was an executive at Microsoft Corporation (NASDAQ: MSFT) as director of worldwide sales and marketing. While at MSFT he led the Solution Provider Program. Mr. Vegarra also manages a venture capital firm focused on mining. He holds an engineering degree from the University of Maryland and an MBA from the University of Washington.
Dr. Klaus Zeitler, PhD, Director - Dr. Zeitler was a managing director of Metallgesellschaft AG, a German metals conglomerate and in 1986 founded and was the CEO of Metall Mining, later Inmet, a TSX listed company with assets of over $4 billion and base metal and gold mines throughout the world. Dr. Zeitler joined Teck Corporation in 1997 as Senior Vice President, overseeing exploration and development in Peru, Mexico and the USA. Since retiring in 2002, in addition to being President and CEO of Amerigo Resources Ltd., he was also Chairman of Candente Copper Corp. and Rio Alto Mining Limited. Dr. Zeitler is a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association. Dr. Zeitler holds a PhD in economic planning.
Richard Barclay, Director - Mr. Barclay is Executive Vice President and director of China Minerals Mining Corporation ("CMMC") and was the founding President and CEO from October 2006 to March 2011 of Hawthorne Gold Corp. now CMMC. (TSXV: CMV). Prior to these roles from 2004 to 2010, Mr. Barclay was the founding CFO and Director of Adriana Resources Inc., a TSXV listed company with a 10+ billion ton iron deposit in Quebec in joint venture and development with WISCO of China and a Brazilian iron ore port facility in development. He was from 1992 to 1999 the founding President and CEO and a director of Eldorado Gold Corporation, a TSX and NYSE listed intermediate gold producer. He was also a co-founder of Bema Gold Corporation ("Bema"), a TSX and NYSE listed intermediate gold producer where he served as CFO and a director from 1975 to 1992. Bema was acquired by Kinross Gold Corp. in April 2007.
Miguel Grau M., LLB, Director - Dr. Grau leads Estudio Grau, a highly respected Peruvian legal firm specializing in mining, social and labor issues. He studied law and political science at San Marcos University in Lima graduating in 1968; with postgraduate studies at New York University. Dr. Grau acts for and represents several mining and oil and gas companies in Peru including: Royal Dutch Shell Peru as a director since 1981; Rio Tinto Mining and Exploration Limited as its legal representative; Cambior Inc. of Canada; Compañia Minera Milpo S.A.A. of which he was chairman from 2001 to 2002. He is currently also a director of Antamina S.A., Peru's largest mining investment in over 30 years.
Jose Roberto Romaña Letts, Director - Mr. de Romaña, a native of Peru, most recently was a senior executive for Volcan, one of Peru's largest mining companies. Mr. de Romaña has a degree in Management and Finance from St. Edward's University in Austin, Texas.
Andres Tinajero, CMA, MBA, Director - Mr. Tinajero has over 15 years of business experience, having supported a broad range of industries, including mining, not for profit, manufacturing and retail; establishing a strong accounting and business skill set, transitioning into the public sector serving in leadership roles for small and medium sized companies in extractive industries. During this same period, he has served as CFO of a number of start-up and medium-sized public companies across Canada. He currently serves as a director for Lakeside Minerals. Mr. Tinajero has a degree in Business Administration and an MBA, and is also a Member of the Canadian Institute of Certified Management Accountants, and he is currently enrolled in the Director's Program through the University of Toronto.
The TSX does not accept the responsibility for the adequacy or accuracy of this release. Statements in this press release regarding the Company's business, plans, intentions, proposed Offering and use of proceeds thereof, which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. Information identifying risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's current Annual Information Form and its other filings with the various Canadian Securities Regulators, which are available online at www.sedar.com