LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
New Jersey Mining Company Closes Private Placement

 -- Published: Friday, 7 March 2014 | Print  | Disqus 

COEUR D'ALENE, Idaho, March 7, 2014 (GLOBE NEWSWIRE) -- New Jersey Mining Company ("NJMC" or the "Company") (NJMC) today announced the completion and closing of a private placement of its equity securities.

The Company sold $450,000 of equity securities priced at $0.15 per unit. Each unit was comprised of two shares of common stock and one common stock purchase warrant. Each purchase warrant gives the holder the right, but not the obligation, to purchase one share of common stock at $0.15 for a 3-year period. All securities issued in connection with the placement are restricted securities.

The Company will use the net proceeds from the placement to purchase and install a gravity circuit and make other improvements at the New Jersey Mill and for working capital and general corporate purposes. The new management team at NJMC is implementing a new business plan, prioritizing cash flow from its mill and pursuit of small-scale production opportunities.

GVC Capital LLC was the sole placement agent for the offering. GVC Capital LLC is headquartered in the Denver area and is focused on providing comprehensive investment banking services to microcap companies.

About New Jersey Mining Company

The new management team at New Jersey Mining Company (NJMC) is implementing a new business plan. NJMC is located in North Idaho's Silver Valley where it built and is the majority-owner and operator of a fully-permitted 360-tonne per day flotation mill and concentrate leach plant. The Company is actively engaging clients for custom milling contracts while also pursuing its own small-scale production opportunities.

The Company also owns a 47.88-percent interest in the Golden Chest LLC which controls the Golden Chest Mine, a historical gold producer with more than 12,000 feet of underground workings. Since 2003, more than $6-million has been spent on exploration, drilling, and development at the Golden Chest Mine, including more than $5-million by Marathon Gold since 2010. Golden Chest LLC recently leased a portion of the Golden Chest Mine to Juniper Resources, a mine development and production company.

The Company's common stock trades on the OTC Market under the symbol "NJMC".

Forward Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Such statements are based on good faith assumptions that New Jersey Mining Company believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.

Contact:
 
For more information on New Jersey Mining Company,
please contact:
Del Steiner, CEO

| Digg This Article
 -- Published: Friday, 7 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus







 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.