Zenyatta lose to dissident group, four directors ousted, three new directors elected

   Zenyatta Ventures {TSX.V: ZEN}

The dissident group of shareholders have announced they have won the proxy battle and removed four directors of Zenyatta Ventures, former CEO Aubrey Eveleigh, Barry Allan, Sean Whiteford and Keith Morrisson, and replaced them with three of their group.

Despite a last minute change by Zenyatta, where they scrapped the deadline for voting, the dissidents still prevailed. Continue reading

Tyranna and Alliance Resources plan maiden gold resource statement at Wilcherry in H1 2018

   Tyranna Resources {ASX: TYX}

Tyranna Resources (28.91%) and Alliance Resources {ASX: AGS} (71.09%) plan an maiden resource estimate at Weednana in H1 2018.

Alliance has improved its understanding of the gold skarn mineralisation model at Weednanna with the recognition of discrete high grade gold shoots and the location of gold shoots in both Paleo-Proterozoic meta-sediments and Archaean granite-gneiss. Continue reading

Zenyatta CEO says dissidents make company unfinanceable

   Zenyatta Ventures {TSX.V: ZEN} 

Zenyatta CEO says dissidents make company “unfinanceable”, and writes to shareholders to respectfully request their vote in support of management, our proposed changes and summary business plan announced in March. Therefore, I ask you to vote against the dissidents’ plan to take control of your board of directors at the May 11 special meeting. Continue reading

Zenyatta Ventures dissidents warn the board not to make any more new hires

   Zenyatta Ventures Ltd.{TSX.V: ZEN}

The dissident group seeking to remove four board members have expressed their continued disappointment with the board’s use of the corporation’s scarce financial resources by sending a letter to the board of directors of Zenyatta warning it against taking further actions that may destroy value and further entrench the board. Continue reading

Minera IRL reports a new mineral reserve at Corihuarmi

    Minera IRL Ltd. {CSE: MIRL},

Reported that Mining Plus has completed a new Technical Report for the Corihuarmi Mine, and estimates a mineral reserve of 8,473,400 tonnes of ore at an average grade of 0.285 g/t Au for 77,700 ounces of gold (before processing recovery) using a cut-off grade of 0.136 g/t. and a gold price of USD $1,250.

This represents a mine life of 3 years. Continue reading