Sila And Gg Gold Stock Update From Pennytobuck.com
Gold American Mining Corporation (OTC:SILA) is pleased to provide an update on the financing activities of the Company.
SILA has entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. SILA is pleased to announce that up to date we have received funds in the amount of $300,000 in virtue of this agreement and that we still have a balance of $7.2 million that we could call upon to fund our exploration and acquisition strategy. During 2010, we have received total equity subscription proceeds of $500,000.
The funding will be utilized by SILA in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico, which is located approximately 5 miles north of the worlds richest underground silver mine, operated by the +$10 billion London Stock Exchange-traded company, Fresnillo plc.
ABOUT GOLD AMERICAN MINING CORP.
Gold American Mining Corp. is a publicly traded (OTC:SILA) precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations. For more information the Company and its projects, visit Gold Americans website at www.gold-american.com.
GOLDCORP INC. (NYSE:GG) is pleased to declare its eighth monthly dividend payment for 2010 of $0.015 per share. Shareholders of record at the close of business on Thursday, August 19, 2010 will be entitled to receive payment of this dividend on Friday, August 27, 2010. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends.
GG is North America's fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
Goldcorp is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. The Companys operating assets include the Red Lake, Porcupine and Musselwhite gold mines in Canada, Peasquito, Los Filos, El Sauzal, and San Dimas gold/silver mines in Mexico, the Marlin mine in Guatemala, the Marigold mine (67% interest) and Wharf mine in the United States and the Alumbrera mine (37.5%) in Argentina. Over 72% of Goldcorps reserves are in low political risk NAFTA countries.
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by: Bill Pennyman
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