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Big US funds buy at 12% premium putting in $80M CAD TIDMDALR Dalradian to receive C$84.75 million through Private Placement and Warrant Exercise TORONTO, ONTARIO--(Marketwired - Oct. 10, 2017) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") is pleased to announce that it has entered into subscription agreements with each of Orion Mine Finance II LP ("Orion") and Osisko Gold Royalties Ltd ("Osisko") pursuant to which Orion will make an investment of C$50 million and Osisko will make an investment of C$28.25 million into the Company by way of a non-brokered private placement, for gross proceeds of C$78.25 million (the "Private Placement"). In addition, Osisko plans to exercise 6.25 million warrants at $1.04 later today, bringing the total funding to approximately C$84.75 million (approximately GBP51 million). Pursuant to the Private Placement, Orion will acquire 34,013,605 common shares of Dalradian (the "Common Shares") and Osisko will acquire 19,217,687 Common Shares, each at a price of C$1.47 per Common Share (the "Issue Price"). The Issue Price represents a 7% premium to the closing price of the Common Shares on the Toronto Stock Exchange on October 6, 2017. The Company intends to use the proceeds of the Private Placement for general working capital purposes. Upon closing of the Private Placement, Orion will own approximately 9.75% of Dalradian's issued and outstanding common shares and Osisko will own approximately 9.1% of Dalradian's issued and outstanding common shares, in each case after giving effect to the warrant exercise by Osisko. Patrick F.N. Anderson, Dalradian's CEO, commented, "This is a strong vote of confidence in both the Curraghinalt Gold Project and in Northern Ireland as an investment destination by two highly respected mining finance groups. Today's placement, together with all recent warrant exercises, will provide the company with additional equity funding in excess of C$110 million. This means that the company is now well-funded to move Curraghinalt through permitting, while continuing to expand and improve the value of the project through further investment in exploration and engineering." Michael Barton, Portfolio Manager at Orion Resource Partners said, "Orion is delighted to become a meaningful investor in one of the most exciting undeveloped gold deposits globally. We look forward to working with Dalradian as Curraghinalt moves through permitting and into construction." Sean Roosen, Chairman and CEO of Osisko said, "We are very pleased to participate in the advancement of one of the world's top undeveloped gold projects in a new emerging gold district. We look f
for gold. This has got takeover written all over it, only a matter of time. Excellent RNS saying 400m extension yielding massive grades of gold. Just how big is this resource?? To me it seems massive.
See Galantas have won their judicial review in court in Belfast: maybe encouraging for the Dalradian planning process.
Yea when every day they drop more
will soon be buying again at these levels!
Pound
Canadian here.
I just rec'd my DALR and BUCHANS shares today.. Good luck all.
Hi Confu, thanks for the info. I must have read it wrong. I was thinking we should of had them by the 14th Sept.
I received mine on Aug 31st and even flogged some some there and then. Got a quid apiece, should have flogged more, but I'm more than happy. Small drop since but should be back up soon. Buchans will probably take another couple of months. Very important to get timing right.
Does anyone know when we will be receiving these into our account from the Minco deal? I thought we should have received them by now or have I got it wrong?
Volatile times! See enormous transaction of 470k closed for DNA on Thursday, presumed sell at 1.57. Wonder if this sale is by Buchans raising cash for developing the Newfoundland Zn property by further drilling; pure speculation of course. Anyway DNA rebounded to 1.65 soon after, equivalent to £1.01 even after rise in £ today.
Yes all looks good! Only a matter of time before it is reflected in the share price!!!
No wonder why Blackrock keep buying. 30'000 meter drill programme due anyway TORONTO, September 11, 2017/Marketwired/ - Dalradian Resources Inc. (TSX:DNA; AIM:DALR) ("Dalradian" or the "Company") announces that a sensitivity study estimation performed on two of the major veins in the Curraghinalt gold deposit (T17 and V75 veins) resulted in a 37% increase in grade and a 10% increase in ounces. In the new study, the geology wireframes were re-modelled using assays with a heavier emphasis on logged geology. This approach yields 24% narrower veins accompanied by a 20% decrease in tonnage. (See Tables 1 and 2 below.) Composite length was adjusted from 0.5 to 0.3 metres to reflect the narrower domains, but all other parameters remain unchanged with the aim to isolate the impact of re-wireframing. Dalradian assessed the impact of the revised modelling methodology on potentially mineable material for the two veins by applying the same parameters as those used in the December 2016 feasibility study (FS). It was found that the revised vein block models resulted in a higher potentially mineable tonnage of 34% and a corresponding increase in mineable ounces of 32% at the expense of a marginal decrease in grade (1.5%). (See Tables 3 and 4 below.) This change in modelling sequence, where wireframing is carried out on geology and assays, followed by compositing within these wireframes, can in part explain the positive reconciliation between mill and resource (42% more ounces) resulting from the test stopes completed in 2016. (See news releases of September 14 and December 8.) Patrick F.N. Anderson, President and CEO said, "We are pleased with the results of this exercise, which uses the same drill data to compare the impact of wireframing prior to compositing, in estimating the mineral resources and resulting mineral reserves at Curraghinalt. The new method is the culmination of a great amount of hard work and reflects our better understanding of the deposit. The resulting shapes for the T17 and V75 veins are more heavily influenced by geology as opposed to previous models which were largely grade driven. This has resulted in smoother, higher grade veins that are only slightly narrower than in the previous model. The implications are that we can use longhole mining methods more extensively and bring new ounces into the mine plan which had previously been below the cut-off grade (see Figure 1). The bottom line is that we have 32% more mineable ounces for the two veins tested." Figure 1 is also available at http://www.dalradian.com/news-and-events/news-releases/news-releases-details/September-11-2017-News-Release-Figures/. The sensitivity study estimation announced today does not represent a new resource update. However, the Company expects that this revised wireframing approach will be used in the updated resource estimate planned once the current drill program is completed and expects similar positive results
11/09/2017 7:00am UK Regulatory (RNS & others) TIDMDALR Initial revised mineral resource modeling approach for two veins at Curraghinalt show increase in ounces TORONTO, September 11, 2017/Marketwired/ - Dalradian Resources Inc. (TSX:DNA; AIM:DALR) ("Dalradian" or the "Company") announces that a sensitivity study estimation performed on two of the major veins in the Curraghinalt gold deposit (T17 and V75 veins) resulted in a 37% increase in grade and a 10% increase in ounces. In the new study, the geology wireframes were re-modelled using assays with a heavier emphasis on logged geology. This approach yields 24% narrower veins accompanied by a 20% decrease in tonnage. (See Tables 1 and 2 below.) Composite length was adjusted from 0.5 to 0.3 metres to reflect the narrower domains, but all other parameters remain unchanged with the aim to isolate the impact of re-wireframing. Dalradian assessed the impact of the revised modelling methodology on potentially mineable material for the two veins by applying the same parameters as those used in the December 2016 feasibility study (FS). It was found that the revised vein block models resulted in a higher potentially mineable tonnage of 34% and a corresponding increase in mineable ounces of 32% at the expense of a marginal decrease in grade (1.5%). (See Tables 3 and 4 below.) This change in modelling sequence, where wireframing is carried out on geology and assays, followed by compositing within these wireframes, can in part explain the positive reconciliation between mill and resource (42% more ounces) resulting from the test stopes completed in 2016. (See news releases of September 14 and December 8.) Patrick F.N. Anderson, President and CEO said, "We are pleased with the results of this exercise, which uses the same drill data to compare the impact of wireframing prior to compositing, in estimating the mineral resources and resulting mineral reserves at Curraghinalt. The new method is the culmination of a great amount of hard work and reflects our better understanding of the deposit. The resulting shapes for the T17 and V75 veins are more heavily influenced by geology as opposed to previous models which were largely grade driven. This has resulted in smoother, higher grade veins that are only slightly narrower than in the previous model. The implications are that we can use longhole mining methods more extensively and bring new ounces into the mine plan which had previously been below the cut-off grade (see Figure 1). The bottom line is that we have 32% more mineable ounces for the two veins tested." Figure 1 is also available at [insert link here]. The sensitivity study estimation announced today does not represent a new resource update. However, the Company expects that this revised wireframing approach will be used in th
Gold now at $1350 and we are in the zone for Lots of news especially the 30000 drill programme which commenced in July. Dalradian plans to submit its Planning Application to build a mine in 2017 and is finalizing the many studies and reports that will make up the ESIA, while also ensuring that there is a continued focus on stakeholder engagement. The Company plans to release additional drill results as they become available and ore sorting results during Q3 2017. Q3 ends in 3 weeks.
We should be in the zone as they starteddrilking about 7 weeks ago with 5 rigs on the go ;-))
Anyone any idea when the results from the current phase of drilling are due.?
Given the news due here I reckon any holding via MInco would be wise to give it some time.
Needs to catch up here to match the tsx close.
Sorry lansdown
Anybody know when i will get my shares in my landsdown account
and Well Done to the Minco Boys. As of a few minutes ago I can now trade online. Demand is higher on TSX.
Hold hold hold. Follow the big boys this is going to be golden