Latest Sutter Gold Mining (SGMNF) Headlines Sut
Post# of 11
Posted On: 03/11/2014 8:15:56 AM
Latest Sutter Gold Mining (SGMNF) Headlines
Sutter Gold Mining Inc. Provides Project Update and Announces It Will Temporarily Suspend Operations at Lincoln Mine Project
Marketwire - Tue Mar 04, 4:01PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM) (OTCQX: SGMNF) ("Sutter or the "Company") provides the following update on the completion of current work programs announced December 23, 2013 with respect to development in the underground and mill at the Lincoln Project in Sutter Creek, California.
Sutter Gold Mining Inc. Favorably Restructures its Debt Obligations and Provides Project Update
Marketwire - Mon Dec 23, 2:39PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter or the "Company") announces that it has entered into an agreement for a restructured Senior Secured Term Loan Facility (the "SSTLF") with RMB Australia Holdings Limited ("RMBAH"). The new SSTLF will replace the current Pre Paid Gold Facility (the "PPGF") between SGM and RMBAH, dated July 14, 2011, and the Bridge Loan Facility (the "BLF"), dated October 18, 2012, as amended and restated (together as the "Facilities").
Best's Rating Notification - Surety Bonding Company of America
Rating Division - AMBest - Wed Dec 18, 2:21PM CST
A.M. Best Company has made the following rating update:
Best's Rating Notification - Continental Casualty Company CAB
Rating Division - AMBest - Wed Dec 18, 2:19PM CST
A.M. Best Company has made the following rating update:
Sutter Gold Mining Inc. Announces Settlement and Provides Project Update
Marketwire - Wed Jul 31, 4:01PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announces that, further to its news release dated July 3, 2013, it has reached an agreement with Leanne M. Baker to settle the severance owing to her with respect to her termination as Chief Executive Officer of the Company. As disclosed in the executive compensation section of the Company's management information circulars dated May 2, 2012 and May 7, 2013, Ms. Baker is entitled to a one time severance payment in the amount of USD$500,000 (the "Severance"). The Company and Ms. Baker have agreed that the Severance will be payable in four installments: (i) USD$83,333 payable in cash immediately; (ii) USD$138,889 to be paid on each of January 15, 2014, January 15, 2015 and January 15, 2016, either in cash or in common shares of the Company. The determination of whether any of the future payments noted above will be made in cash or in shares will be at the sole discretion of the Company. The deemed price of the common shares that may be issued in connection with the above noted installments will be the average closing share price of the Company during the 10 trading days up to and including January 15 of each applicable year, but in any event, no more than 475,000 common shares will be issued (equating a deemed price of approximately $0.30 per share) in each of the three installments. The payment of the Severance is considered a related party transaction in accordance with the policies of the TSX Venture Exchange, however is exempt from the requirements for formal valuation or minority approval set out in sections 5.5(a) and (b) and 5.7(a) and (b), respectively, of MI 61-101 Protection of Minority Security Holders in Special Transactions. The payment of the Severance is subject to the approval of the TSX Venture Exchange.
Sutter Gold Implements Cost Cutting Measures and Provides Development Update
Marketwire - Wed Jul 03, 3:23PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announces the implementation of several cost-cutting measures in response to recent gold market volatility and uncertainty in financing markets. RMB Australia Holdings Limited ("RMB" or the "Lender"), which has funded development and construction costs at Sutter's Lincoln Mine Project in the California Mother Lode for the past five years and continues to do so, requested cost reductions as a condition of further funding under the extension and increase of the bridge loan announced on May 23, 2013. An affiliate of RMB is also a 48% shareholder of Sutter Gold's common shares.
Sutter Gold Mining Inc. Signs US $8 Million Increase and Repayment Extension to Secured Short-Term Credit Facility
Marketwire - Thu May 23, 3:10PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announced today that it has closed on an agreement with RMB Australia Holdings Ltd. ("RMB") pursuant to which RMB has agreed to increase the existing secured, short term debt facility of US$12 million (the "Original Facility") by an additional US$8 million (the "Extended Facility", together with the Original Facility, the "Facility") (see press release dated October 18, 2012). The Extended Facility will be used for the completion of the construction of the Lincoln Mine Project (the "Project") near Sutter Creek, California, and for agreed general corporate purposes. With this Extended Facility, RMB has now made an aggregate of US$20 million available to the Company, of which US$12 million has been drawn by the Company. In addition, the Facility's due date has been extended from June 30, 2013 to June 30, 2014 and now bears interest at the rate of LIBOR plus 15% per annum.
Sutter Gold Provides Lincoln Mine Project Update
Marketwire - Fri Feb 22, 12:59PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or "the Company") is pleased to provide an update on progress at its new Lincoln Mine Project in Amador County, California.
Sutter Gold Mining Intersects 3.016 opt Gold in 1.2-Foot Interval in Initial Drilling at North Gover Prospect
Marketwire - Fri Feb 22, 12:58PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or "the Company") is pleased to announce the results of its preliminary core drilling campaign at the North Gover Property located at the north tier of its property holdings in Amador County, California. All six drill holes made significant gold intersections, with the best ones as follows: SGD-67 returned 3.016 ounces per ton (opt) over 1.2 feet core interval and 0.338 opt over 2.0 feet core interval within a 14.2 feet intersection calculating to 2.5 feet true width at a weighted average grade of 0.41 opt Au; SGD-66 returned 0.523 opt Au over a 2.0 feet interval within a 23.0 feet gold mineralized intersection calculating to 11.5 feet true thickness at a weighted average grade of 0.142 opt Au; SGD-64 returned 0.312 opt Au over 3.0 feet core intersection compositing to 0.9 foot true width at 0.312 opt Au; SGD-62 returned 0.341 opt Au over a core interval of 3.6 feet within a down-hole vein interval of 6.1 feet calculating to 3.9 feet true wi
Sutter Gold Mining Inc. Provides Project Update and Announces It Will Temporarily Suspend Operations at Lincoln Mine Project
Marketwire - Tue Mar 04, 4:01PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM) (OTCQX: SGMNF) ("Sutter or the "Company") provides the following update on the completion of current work programs announced December 23, 2013 with respect to development in the underground and mill at the Lincoln Project in Sutter Creek, California.
Sutter Gold Mining Inc. Favorably Restructures its Debt Obligations and Provides Project Update
Marketwire - Mon Dec 23, 2:39PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter or the "Company") announces that it has entered into an agreement for a restructured Senior Secured Term Loan Facility (the "SSTLF") with RMB Australia Holdings Limited ("RMBAH"). The new SSTLF will replace the current Pre Paid Gold Facility (the "PPGF") between SGM and RMBAH, dated July 14, 2011, and the Bridge Loan Facility (the "BLF"), dated October 18, 2012, as amended and restated (together as the "Facilities").
Best's Rating Notification - Surety Bonding Company of America
Rating Division - AMBest - Wed Dec 18, 2:21PM CST
A.M. Best Company has made the following rating update:
Best's Rating Notification - Continental Casualty Company CAB
Rating Division - AMBest - Wed Dec 18, 2:19PM CST
A.M. Best Company has made the following rating update:
Sutter Gold Mining Inc. Announces Settlement and Provides Project Update
Marketwire - Wed Jul 31, 4:01PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announces that, further to its news release dated July 3, 2013, it has reached an agreement with Leanne M. Baker to settle the severance owing to her with respect to her termination as Chief Executive Officer of the Company. As disclosed in the executive compensation section of the Company's management information circulars dated May 2, 2012 and May 7, 2013, Ms. Baker is entitled to a one time severance payment in the amount of USD$500,000 (the "Severance"). The Company and Ms. Baker have agreed that the Severance will be payable in four installments: (i) USD$83,333 payable in cash immediately; (ii) USD$138,889 to be paid on each of January 15, 2014, January 15, 2015 and January 15, 2016, either in cash or in common shares of the Company. The determination of whether any of the future payments noted above will be made in cash or in shares will be at the sole discretion of the Company. The deemed price of the common shares that may be issued in connection with the above noted installments will be the average closing share price of the Company during the 10 trading days up to and including January 15 of each applicable year, but in any event, no more than 475,000 common shares will be issued (equating a deemed price of approximately $0.30 per share) in each of the three installments. The payment of the Severance is considered a related party transaction in accordance with the policies of the TSX Venture Exchange, however is exempt from the requirements for formal valuation or minority approval set out in sections 5.5(a) and (b) and 5.7(a) and (b), respectively, of MI 61-101 Protection of Minority Security Holders in Special Transactions. The payment of the Severance is subject to the approval of the TSX Venture Exchange.
Sutter Gold Implements Cost Cutting Measures and Provides Development Update
Marketwire - Wed Jul 03, 3:23PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announces the implementation of several cost-cutting measures in response to recent gold market volatility and uncertainty in financing markets. RMB Australia Holdings Limited ("RMB" or the "Lender"), which has funded development and construction costs at Sutter's Lincoln Mine Project in the California Mother Lode for the past five years and continues to do so, requested cost reductions as a condition of further funding under the extension and increase of the bridge loan announced on May 23, 2013. An affiliate of RMB is also a 48% shareholder of Sutter Gold's common shares.
Sutter Gold Mining Inc. Signs US $8 Million Increase and Repayment Extension to Secured Short-Term Credit Facility
Marketwire - Thu May 23, 3:10PM CDT
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or the "Company") announced today that it has closed on an agreement with RMB Australia Holdings Ltd. ("RMB") pursuant to which RMB has agreed to increase the existing secured, short term debt facility of US$12 million (the "Original Facility") by an additional US$8 million (the "Extended Facility", together with the Original Facility, the "Facility") (see press release dated October 18, 2012). The Extended Facility will be used for the completion of the construction of the Lincoln Mine Project (the "Project") near Sutter Creek, California, and for agreed general corporate purposes. With this Extended Facility, RMB has now made an aggregate of US$20 million available to the Company, of which US$12 million has been drawn by the Company. In addition, the Facility's due date has been extended from June 30, 2013 to June 30, 2014 and now bears interest at the rate of LIBOR plus 15% per annum.
Sutter Gold Provides Lincoln Mine Project Update
Marketwire - Fri Feb 22, 12:59PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or "the Company") is pleased to provide an update on progress at its new Lincoln Mine Project in Amador County, California.
Sutter Gold Mining Intersects 3.016 opt Gold in 1.2-Foot Interval in Initial Drilling at North Gover Prospect
Marketwire - Fri Feb 22, 12:58PM CST
Sutter Gold Mining Inc. (TSX VENTURE: SGM)(OTCQX: SGMNF) ("Sutter" or "the Company") is pleased to announce the results of its preliminary core drilling campaign at the North Gover Property located at the north tier of its property holdings in Amador County, California. All six drill holes made significant gold intersections, with the best ones as follows: SGD-67 returned 3.016 ounces per ton (opt) over 1.2 feet core interval and 0.338 opt over 2.0 feet core interval within a 14.2 feet intersection calculating to 2.5 feet true width at a weighted average grade of 0.41 opt Au; SGD-66 returned 0.523 opt Au over a 2.0 feet interval within a 23.0 feet gold mineralized intersection calculating to 11.5 feet true thickness at a weighted average grade of 0.142 opt Au; SGD-64 returned 0.312 opt Au over 3.0 feet core intersection compositing to 0.9 foot true width at 0.312 opt Au; SGD-62 returned 0.341 opt Au over a core interval of 3.6 feet within a down-hole vein interval of 6.1 feet calculating to 3.9 feet true wi
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