subject: Price Target Update On Sila, Letter Of Intent Signed By Pmu And Minera Clifton, Stock Update On Agi [print this page] Gold American Mining Corporation (OTCBB:SILA) was pleased to recently announce that Cohen Independent Research Group, Inc. initiated a report, that they have upgraded its Cohen Price Target on SILA from $3.16 to $3.31.
This Cohen Price Target is derived using a combination of four academic and market-based valuation approaches (one of which is the DCF valuation) that are equally weighted (25%) components used in calculating the Cohen Target Price.
SILA is also pleased to announce an additional positive results from its Guadalupe property, located in the heart of the Fresnillo district, Zacatecas, Mexico.
Fieldwork of SILA continues to identify additional veins within the property -- as such several veins remain without names. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown.
"We are very excited with our findings to date. As soon as we receive the final report and maps of the recently completed geophysics campaign we will be able to finalize the design of the drilling program and initiate the permitting process with a view at commencing drilling before the end of the year," said Johannes Petersen, President of SILA.
THE GUADALUPE PROPERTY
The Guadalupe property contains two historically significant mines and is located in one of Mexico's oldest mining districts, roughly 5 miles north of the Fresnillo (Proao) Mine, the world's richest underground silver mine, operated by Fresnillo plc. Roughly 6.8 miles to the southwest of Silver America's Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corporation (MAG) and Fresnillo plc, which is known as one of the world's highest grade undeveloped silver resources.
The Property contains greater than 20 known workings as well as two historic mines -- Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s. The property is completely surrounded by land controlled by Peoles (either through Fresnillo or other subsidiaries and partners).
ABOUT GOLD AMERICAN MINING CORPORATION
Gold American Mining Corporation is a publicly traded (OTCBB: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 American's website at www.gold-american.com.
Pacific Rim Mining Corporation (AMEX:PMU) through its Panamanian subsidiary Minera Verde S.A. ("Minera Verde"), has signed a binding Letter of Intent with Compania Minera Clifton S.A. ("Minera Clifton") to acquire a 100% interest in the Remance project located in Panama, Central America.
"We have been evaluating and pursuing the Remance project for over 9 months," states Tom Shrake, President and CEO of PMU.
The Parties have agreed to sign a formal option agreement granting Minera Verde the exclusive right and option (the "Option") to acquire 100% of Minera Clifton's right, title and interest in the Remance project as soon as practicable.
The Option may be exercised by the Company by completing the following terms:
1. paying to Minera Clifton the sum of US$200,000.00 (the "Cash Payment"),
payable as follows:
On the date of execution of the Formal Agreement by
the Parties: US $50,000
On the date which is 3 months after the date of
execution of the Formal Agreement: US $50,000
On the date which is 6 months after the date of
execution of the Formal Agreement: US $50,000
On the date which is 10 months after the date of
execution of the Formal Agreement: US $50,000
2. on the date of execution of the Formal Agreement, issuing to Minera
Clifton a total of 5 million common shares of Pacific Rim (the
"Acquisition Shares");
3. within the Option Period (as defined below), conducting a drilling
program on the Concession of at least 10,000 metres, and initiating
environmental and metallurgical studies on the Remance project
(collectively, the "Drilling Program"). The Option Period is the period
which begins on the date on which Pacific Rim has received all required
permissions and approvals of the Panamanian government to begin the
Drilling Program, and which ends on the date which is 12 months
thereafter; and
4. on or before the date which is 10 days after the last day of the Option
Period, giving written notice to Minera Clifton that it intends to
exercise the Option, in consideration of which Pacific Rim will pay to
Minera Clifton, as soon as practicable thereafter, the sum of
US$5,000,000, payable, at the election of Minera Clifton, in cash or
common shares of Pacific Rim (the "Additional Shares").
History and Geology of the Remance Project
The Remance project is located in the Veraguas Province, Panama, 28 kilometres north of the Provincial capital of Santiago and 400 kilometres west of Panama City. Access to the project is via paved and improved gravel road. The site ideal for mining as it is remote, has existing power lines, is sparsely populated and has little significant agriculture.
Agilent Technologies Inc. (NYSE:A) and the Agilent Foundation announced that Dr. Thomas Hartung has received an Agilent Thought Leader Award in support of his research for the use of toxicity pathways to predict developmental neurotoxicity. This work could help identify possible contributions of chemicals to disorders such as autism and attention hyperactivity disorders. Dr. Hartung recently was named a leading toxicologist by the science journal Nature.
For FREE Daily Stock Alerts & Updates Signup At: http://pennytobuck.com/signup
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. PennyToBuck.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers.Our disclaimer ( http://pennytobuck.com/disclaimer) is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold PennyToBuck.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. Rule 17B requires disclosure of payment for investor relations.The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period. Crown Equity Holdings, Inc. (CRWE.OB) has received twenty-five thousand dollars in cash from a third party (Winning Media) for (3) days of advertising for Gold American Mining Corp (SILA.OB)
