Northern Gold Mining Inc. is pleased to announce that further to its press release dated July 18, 2012 it has today completed a non-brokered private placement financing of 20,000,000 common shares at a price of $0.25 per Common Share for gross proceeds of $5,000,000.
…
Prior to the Offering, Paul Caland of Ruttimattstrasse 16, 3780 Gstaad, Switzerland had beneficial ownership of or control over 18,855,015 Common Shares of Northern Gold and 3,750,000 Common Share purchase warrants, representing in the aggregate approximately 14.15% of Northern Gold’s outstanding Common Shares on a partially diluted basis. Pursuant to the Offering, Mr. Caland acquired beneficial ownership of or control over an additional 6,800,000 Common Shares of Northern Gold for an aggregate purchase price of $1,700,000, and now has beneficial ownership of or control over securities representing 29,405,015 Common Shares of Northern Gold (representing approximately 16.36% of Northern Gold’s outstanding Common Shares on a partially diluted basis after completion of the Offering).
I think Northern is ready to rip despite weak gold prices
I see you guys missed this pretty important NR
http://www.northerngold.ca/pressreleases/073012.pdf
NORTHERN GOLD ANNOUNCES GREG GIBSON AS ITS NEW PRESIDENT AND CEO
@Bart
Didn’t miss it, just didn’t review it. As far as being ready to rip we certainly wouldn’t complain, but realistically it has already had quite a run this past month from low 20s to mid 30s: http://www.google.com/finance?chdnp=0&chdd=0&chds=0&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1344974400000&chddm=7820&chls=IntervalBasedLine&q=CVE:NGM&ntsp=0
@Zurbo
And I too am still wondering as per my comment http://www.metalaugmentor.com/analysis/weekly-subscriber-update-april-22-april-29-2012.html#comment-16520
http://www.northerngold.ca/pressreleases/081712.pdf
Topping up the war chest
@Bart
What a dumb ass move……….just when the the juniors could be on the cusp of a good move this fall, they settle for 0.30 to shoot for 200mil shares. I give them credit though for no warrants.
@kjm
Yeah, and the offer was 13% lower than the bid price when I first noticed the NR. I took my gains and ran.
I could list all the positives for the stock, but I don’t need to because MA already have.
Good luck finding a new home for your $$ forwill.
@Bart
If management thinks the shares are worth $.30, thats probably where the market will take them for a time barring a positive drilling NR or some such thing. Besides, there’s plenty of good looking fish in this ocean.
@Bart
We’ll soon see; but to me, they just killed some really nice momentum.
@forwill
I think you are wrong. Take a careful look at the chart. The volume has not dried up, in fact it looks like someone (some brokerage firm) is holding the price below .35 to redistribute shares. This despite the massive PP at .30.
Let’s check back in about 3 months.
As the chart very clearly showed, NGM getting a nice little push here.
I might be a profit taker around .40 and wait for a pullback.
Good luck guys, lets keep sharing these profitable setups.
http://www.northerngold.ca/pressreleases/083012.pdf