Atlanta Gold Inc. (ATLDF: OTCQX International) | Atlanta

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Atlanta Gold Inc. (ATLDF: OTCQX International) | Atlanta Gold Enters into Contract Mining and Financing Agreements Atlanta Gold Enters into Contract Mining and Financing Agreements

Atlanta Gold Enters into Contract Mining and Financing Agreements

Canada NewsWire

TORONTO , June 18, 2014 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the " Company ") announced that its wholly-owned subsidiary, Atlanta Gold Corporation (" AGC "), has reached an agreement with Knife River Corporation (" KRC ") whereby KRC will contract mine on AGC's behalf, certain patented lode mining claims known as the Neal Property, located approximately 15 miles from Boise, Idaho . Daisy Mining & Land, LLP leased the claims to KRC which then assigned key provisions of the lease to AGC.  AGC staked an additional seven contiguous claims on public land that was open to mineral entry. Under the terms of the agreement, KRC will mine and transport the mineralized materials from the Neal Property approximately 23 miles, to KRC's property located on Amyx Lane for crushing and delivery to AGC. AGC will process the materials at the KRC property.  In addition to the contract mining and transportation costs, AGC will be responsible for payment of a tonnage royalty of US$3 per dry ton of delivered tonnage and a 3% net smelter return royalty payable to the owner of the Neal Property.

Processing of the material from the Neal Property will enable AGC to further test and improve upon the processing equipment and procedures (described in the Company's news release of June 10, 2014 ) prior to implementing the process at AGC's Atlanta Project on the bulk sample scheduled to be taken in 2014. The agreement with KRC will also enable the processing of material from the Neal Property to continue during the winter months when the Atlanta Project is largely inaccessible.

To assist in funding the expenditures necessary to acquire the processing equipment and commence processing, the Company has reached an agreement with a corporation controlled by Eric Sprott to borrow US$600,000 .  The loan is unsecured and non-interest bearing and is to be repaid by delivery to the lender of 1,000 troy ounces of gold (or the cash equivalent thereof) payable in installments over an 18-month period.  The loan will be convertible at the lender's election at a conversion price of C$0.05 during the initial 12 months and at C$0.10 per share thereafter.  The lender will also receive a 5-year option to purchase, solely from gold produced from the Neal Property, up to 2,500 ounces of gold at US$1,400 per ounce.  The financing transaction is subject to the approval of the TSX Venture Exchange.

"Having property that has access in all seasons with similar metallurgy to Atlanta will advance the research required to verify the Company's objective of producing a mined product with the least environmental impact. This is also an opportunity for the Boise operations to provide work for seasonal employees to be extended to a longer period. It will reduce the turnover and attract qualified and experienced personnel.  The network of all involved to achieve this opportunity has been encouraging," said Ernest Simmons , President and CEO of the Company.

About the Company

Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) located 90 air kilometers east of Boise , in Elmore County, Idaho . A long history of mining makes Atlanta very suitable for development of new mining projects.  The Company is focused on advancing its core asset, Atlanta , towards mine development and production.

Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively "forward-looking statements") within the meaning of applicable securities laws, including with respect to the completion of the loan financing, the acquisition of the processing equipment, the completion of a bulk sample at the Atlanta Project and the successful application of the process equipment and system to the mineralized material removed from the Neal Property and the Atlanta Project, the respective timing thereof and the impact on recruitment and retention of personnel. Such are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors that management believe to be reasonable and relevant.  These assumptions include those concerning the receipt of the approval of the TSX Venture Exchange, the achievement of recovery objectives, the generation of an additional bulk sample, the completion of additional financings, the availability of equipment and manpower, the ability to achieve operating and cost estimates and general business and economic conditions.  Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements.  Risks and uncertainties that may cause actual results to vary include, but are not limited to, the Company's limited financial resources and its ability to raise sufficient funds on a timely basis to fund the capital and operating expenses necessary to carry out its planned initiatives; the ability to achieve recovery objectives; fluctuations in resource prices and currency exchange rates; the speculative nature of mineral exploration and mining (including with respect to the interpretation of geology, continuity, size and grade estimates and the recoverability of resource estimates); operational and technical difficulties which could increase operating and/or capital costs; risks and hazards associated with the business of mineral exploration, development and mining, including environmental, health and safety hazards; changes in laws or regulations and the risk of obtaining necessary consents, licenses and permits; changes in general economic conditions and in the financial markets; as well as other risks and uncertainties which are more fully described in the Company's annual and quarterly Management's Discussion and Analysis and in other Company filings with securities and regulatory authorities which are available at www.sedar.com . Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive.  The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

To receive Company news via email, contact jeanny@chfir.com and mention "Atlanta Gold News" in the subject line.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Atlanta Gold Inc.

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Annex Brands Grows with Bastrop's PostalAnnex Opening

Updated Category News Views 4

New PostalAnnex Location Opens in Bastrop, TX Here's a fresh chapter in the books for Annex Brands, Inc. They've just cut the ribbon on a brand spanking new PostalAnnex in Bastrop, Texas, handing the reins over to eager fresh faces, Chetan Modi and Karan Desai. And you know what? This ain't just any regular location. It's a one-stop-shop for anything you could need, from...

Continue Reading
Lavior and CR Fitness Team for Wellness Reach

Updated Category News Views 2

Botanical Care Meets Gym Life in the Southeast Lavior, the botanical whiz kids of wound and skin care out of Miami, are shaking hands with CR Fitness, Crunch's big-time franchise operator carrying the flag across the Southeast. They’ve ironed out a deal that’ll park Lavior’s products in more than 60 gyms covering Florida, Georgia, North Carolina, and Texas. It’s a...

Continue Reading
U.N. Leaders Converge at NYSE, Forus Soars to $3B Valuation

Updated Category News Views 5

A Busy Morning at the NYSE with Key Guests and Global Events In a world where high-stakes diplomacy and roaring market bells go hand in hand, today brings the U.S. Secretary of State, Marco Rubio, to the New York Stock Exchange. With the 81st Session of the United Nations General Assembly shaking up the Big Apple, the city finds itself at the intersection of politics and...

Continue Reading
Navigating AI's New Era: Dresner's 2026 Findings

Updated Category News Views 7

Big Insights in the AI World of 2026 Well folks, if there's one thing making waves in the boardrooms this year, it's AI. Dresner Advisory Services just threw down a gauntlet for companies with their fresh batch of reports focused on the dizzying world of AI. They ripped right into it, exploring how firms can bag a heap of benefits and deal with the hurdles that come with...

Continue Reading
Nature-Based Solutions: The Economic And Community Impact

Updated Category News Views 8

Harnessing Nature to Boost Economies You ever stop to think about how nature itself might just be the best investment? Well, the Walton Family Foundation surely does, betting big on nature-based solutions. Their latest initiative, 'Human Nature,' is shedding light on how these solutions aren't just saving ecosystems — they're fortifying economies and enriching...

Continue Reading
Castillo Engineering Gears Up with New VP Appointments

Updated Category News Views 3

New Leadership to Drive Expansion In a boost to its commitment to scaling up, Castillo Engineering, based in Maitland, Florida, has roped in two veterans from the renewables sector as vice presidents. Aaron Carrillo and Devin Radovich, who share a history of successful collaboration at Renewable Energy Systems Americas (RES), are set to guide Castillo's growth in the...

Continue Reading
Tenera Care's Tech Triumph: Halving Falls with Simplicity

Updated Category News Views 6

Every once in a while, a piece of tech comes along that makes you sit up and say, ‘Now that’s a game-changer!’ And with the recent rave reviews, Tenera Care seems to hit just that sweet spot for folks in the senior living game. By handing Dublin Glenn Memory Care the gold in the KISS category at the 2026 McKnight's Technology Awards, it’s clear the industry is...

Continue Reading
NACD Honors Top Board Leaders with 2026 Awards

Updated Category News Views 12

Celebrating Boardroom Mavericks at NACD Gala September 2026 has brought some sparkling recognition to the elites guiding today's corporate governance landscapes. The National Association of Corporate Directors (NACD) has announced their Directorship 100 honorees, tipping their hats to stellar individuals firing on all cylinders in the boardroom. Who's Getting the Nod?...

Continue Reading
Spencer Peterman Hosts Eco-Friendly Wood Bowl Sale

Updated Category News Views 4

Just when you think you've seen it all in the world of craftsmanship, along comes a dynamo like Spencer Peterman. For over 25 years, he's been turning what others discard into treasures. Fallen trees? Most folks see firewood. Spencer sees a future masterpiece. And now, he’s rolling out the welcome mat for his loyal customers with a special sale that runs until December...

Continue Reading
Molex's VersaBeam Mini Pushes AI Data Center Limits

Updated Category News Views 3

Game-Changer for AI Data Centers? Across the tech landscape, space is a premium, and Molex's new VersaBeam Mini arrives like a hail Mary in the fourth quarter. In AI data centers, squeezing down every single component counts—especially when optical density's in play. What we're seeing here is a potential paradigm shift. A 3x density improvement from a tiny 3.5 x 9 mm...

Continue Reading

Top 5 Most Recently Viewed Articles

Juneau Construction Company Partners with Buildots for Efficiency

Updated Category News Views 174

Revolutionizing Construction with AI Technology In an exciting new partnership, Juneau Construction Company is embarking on a journey to enhance construction efficiency through cutting-edge technology. This collaboration will usher in a new era of data-driven construction, focusing on delivering projects efficiently while meeting the growing demand for residential and...

Continue Reading
Exploring Current Options Trends for Monolithic Power Systems

Updated Category News Views 154

Key Insights into Options Trading for Monolithic Power Systems Investors keenly observing the market have turned cautious regarding Monolithic Power Systems (NASDAQ: MPWR). Recent activities indicate that significant players are displaying a bearish sentiment, which should not be overlooked. Tracking options trading data reveals an intriguing pattern of behavior among...

Continue Reading
Hut 8 Corp. Hosts Upcoming Conference Call for Q3 Results

Updated Category News Views 84

Insight into Hut 8 Corp.'s Q3 Conference Call Hut 8 Corp. (Nasdaq | TSX: HUT), a dominant figure in the Bitcoin mining industry and a leader in energy infrastructure, is set to host a conference call and webinar aimed at discussing their financial results for the third quarter of 2024. This highly anticipated event will take place on November 13, 2024, at 8:30 a.m. ET,...

Continue Reading
Third Annual Chicago Drives Electric Event Details Revealed

Updated Category News Views 142

Exciting Announcement for the Chicago Drives Electric Event The Chicago Automobile Trade Association (CATA), which is well-known for organizing the famous Chicago Auto Show, has revealed plans for the Third Annual Chicago Drives Electric event. This exciting gathering is set to take place over a weekend filled with electrifying experiences from October 3-6, 2024, and aims...

Continue Reading
Power Integrations Unveils MotorXpert v3.0 for FOC Control

Updated Category News Views 245

Power Integrations Introduces MotorXpert v3.0 for Enhanced Motor Control Power Integrations (NASDAQ: POWI), a leading name in high-voltage integrated circuits for energy-efficient power conversion, has unveiled the latest version of its advanced software suite, MotorXpert v3.0. This innovative tool is designed specifically for configuring, controlling, and sensing...

Continue Reading