|Bid||0.0200 x 0|
|Ask||0.0250 x 0|
|Day's Range||0.0250 - 0.0250|
|52 Week Range||0.0150 - 0.1300|
|Beta (3Y Monthly)||1.73|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.40|
Emerita Resources Corp. (the “Company” or “Emerita”) (EMO.V) announces that along with its joint venture partner, the Aldesa Group (“Aldesa”), the first diamond drilling campaign is expected to commence March 18, 2019 at its flagship Plaza Norte project (the “Project” or “Plaza Norte”) in Cantabria region, northern Spain (Figure 1). Drilling is being conducted through its joint venture company Cantábrica del Zinc (“ZINCA”) which is owned 50% by Emerita and 50% by Aldesa. Diamond drilling equipment is presently being mobilized to the Project.
Emerita Resources Corp. (EMO.V) (the “Company” or “Emerita”) has entered into a letter of engagement with Industrial Alliance Securities Inc. (the “Agent), to act as agent for the sale of a minimum of 10,000,000 post-consolidation common shares of the Company (the “Shares”) to a maximum of 20,000,000 Shares, on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Share of $0.10 (on a post-consolidation basis) for total gross proceeds of a minimum of $1,000,000 to a maximum of $2,000,000 (the “Offering”). The proceeds of the Offering are expected to be used to finance exploration activities at the Company’s Plaza Norte Project in Spain ($500,000), repayment of the Corporation’s existing debt ($300,000) and for general corporate purposes ($200,000) based on gross proceeds of the Offering of $1,000,000. If the gross proceeds of the Offering exceed $1,000,000, the Company expects the relative percentage of the gross proceeds of the Offering to be used on exploration activities at the Plaza Norte Project to increase and the relative percentage of the gross proceeds to be used for debt repayment and general corporate purposes to decrease.
Emerita Resources Corp. (the “Company” or “Emerita”) (EMO.V) announces that along with its partner, the Aldesa Group (“Aldesa”), it has received the necessary permits to commence drilling on its Plaza Norte zinc project located in Cantabria, Spain. Update meetings were held recently in Santander with Government officials and the Honorable Miguel Angel Revilla, President of Cantabria Region. At a joint press conference with the Company, the Honorable Mr. Revilla publicly stated his strong support for the project and went so far as to say that in his view it was one of the most important economic development initiatives in the region. There have been further developments in the Andalusia Region in southern Spain where the election held in December has resulted in the first change in government there since Spain became a democracy. Representatives from the Company in Spain are scheduled to meet with officials of the new government in the coming week. The new government was elected on an anti-corruption platform. Emerita has been involved in a lengthy litigation process relating to corruption and prevarication charges against officials of the outgoing Junta in connection with the Aznalcollar Public Tender (see news releases dated November 9, 2016, January 26, 2017 and March 28, 2017). The Company remains committed to the acquisition and development of this project for the benefit of all stakeholders. As part of the initial public tender process Emerita completed comprehensive engineering and environmental studies and as such are the group best positioned to advance the project efficiently and with the highest environmental, health and safety standards.
Emerita Resources Corp. (the “Company” or “Emerita”) (EMO.V) announces that it has received strong support from its shareholders for consolidation of its common shares on the basis of one new common share for every five common shares outstanding.
The Project was acquired in a public tender process organized by the Dirección General de Industria, Comercio y Consumo -Consejería de Innovación, Industria, Turismo y Comercio del Gobierno de Cantabria (the Government of Cantabria, in northern Spain). The Plaza Norte Project is located in the Reocin Basin which hosts the famous Reocin mine, formerly one of the premier zinc producers in Europe, having produced approximately 62 million tonnes grading 11% zinc and 1.0% lead. Upon completion of the environmental and social licenses, the government ratified the resolution granting a three year exploration permit to Cantabrica del Zinc (“CDZ”) (Emerita and Aldesa’s joint venture company). CDZ has initiated negotiations with local land owners to access selected target areas for drilling.
The big shareholder groups in Emerita Resources Corp (CVE:EMO) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller Read More...