Colonial Coal raise $2.4 million at a 100% premium

Colonial Coal {TSX.V: CAD} announced a financing to a major new investor at 10c per share (plus a half  warrant at 20c for two years), representing 19.86% of issued stock.

This is a huge vote of confidence in the assets and management team at Colonial. Drilling the highly prospective Flatbed property is now a priority, and positions Colonial amongst the very few exploration and development companies able to spend on exploration in these tough times. Continue reading

Carlisle Gold taken out by Alamos Gold at a 62% premium

Carlisle Goldfields {TSX.V: CGJ} delighted their shareholders by announcing they are being taken out by Alamos Gold {TSX: AGI} at a 62% premium to the shareprice prior tothe transaction being announced.

This is terrific news for CGJ shareholders, and a allows Alamos Gold to consolidate their position at Lynn Lake.  A win win for all concerned. Continue reading