Vena Resources Incorporated
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Vena Resources Clarifies Information on Azulcocha West and Provides Additional Information on the
TORONTO, ONTARIO, Nov 17, 2009 (MARKETWIRE via COMTEX) --
Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF) (the "Company") issued a press release on November 16, 2009 indicating that an internal review by the project's geologists on the results of the 7,000 meter drill program estimate that a portion of the Azulcocha West property may contain in excess of 785,000 tonnes of polymetallic mineralization. The Company reminds investors that the polymetallic mineralization discussed is a potential target and that there has not been sufficient exploration to define a mineral resource and further that it is uncertain whether further exploration will result in a discovery of a mineral resource. The Company plans to hire an independent Qualified Person after the current drill program is completed with expectations to provide a NI 43-101 compliant report.
The Company is also providing additional information to its press release issued on November 13, 2009 that announced the completion of a private placement with Byron Securities Limited ("Byron Securities") for gross proceeds of $2,269,400 through the issuance of 7,564,668 units at a price of $0.30 per unit of which 266,000 units were purchased by insiders of the Company. A "gypsy swap" transaction closed concurrently with the private placement whereby an existing, non-insider shareholder sold 2,000,000 common shares of the Company to Canaccord Capital Corporation and then bought the same number of common shares under the private placement. As compensation, Byron Securities received a 1.5% cash commission and 130,000 broker warrants for the sale of the 2,000,000 units purchased as part of the private placement and a party not related to Byron Securities received $30,000 in cash commissions representing a 5% finder's fee.
For further information on Vena Resources, please visit the Company website at www.venaresources.com.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 88,098,949
Fully-Diluted: 100,121,907
The TSX does not accept the responsibility for the adequacy or accuracy of this release.
Contacts: Vena Resources Inc. Juan Vegarra Chairman & CEO (416) 364-7739, ext. 120 jvegarra@venaresources.com www.venaresources.com
SOURCE: Vena Resources Inc.
mailto:jvegarra@venaresources.com http://www.venaresources.com
Tags: broker business ceo exploration frankfurt Private Placement securities
Companies: Vena Resources Inc (VEM), Vena Resources Inc (VNARF)
Vena Resources Clarifies Information on Azulcocha West and Provides Additional Information on the
TORONTO, ONTARIO, Nov 17, 2009 (Marketwire via COMTEX) --
Vena Resources Inc. (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF) (the "Company") issued a press release on November 16, 2009 indicating that an internal review by the project's geologists on the results of the 7,000 meter drill program estimate that a portion of the Azulcocha West property may contain in excess of 785,000 tonnes of polymetallic mineralization. The Company reminds investors that the polymetallic mineralization discussed is a potential target and that there has not been sufficient exploration to define a mineral resource and further that it is uncertain whether further exploration will result in a discovery of a mineral resource. The Company plans to hire an independent Qualified Person after the current drill program is completed with expectations to provide a NI 43-101 compliant report.
The Company is also providing additional information to its press release issued on November 13, 2009 that announced the completion of a private placement with Byron Securities Limited ("Byron Securities") for gross proceeds of $2,269,400 through the issuance of 7,564,668 units at a price of $0.30 per unit of which 266,000 units were purchased by insiders of the Company. A "gypsy swap" transaction closed concurrently with the private placement whereby an existing, non-insider shareholder sold 2,000,000 common shares of the Company to Canaccord Capital Corporation and then bought the same number of common shares under the private placement. As compensation, Byron Securities received a 1.5% cash commission and 130,000 broker warrants for the sale of the 2,000,000 units purchased as part of the private placement and a party not related to Byron Securities received $30,000 in cash commissions representing a 5% finder's fee.
For further information on Vena Resources, please visit the Company website at www.venaresources.com.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 88,098,949
Fully-Diluted: 100,121,907
SOURCE: Vena Resources Inc.
Vena Resources Inc. Juan Vegarra Chairman & CEO (416) 364-7739, ext. 120 jvegarra@venaresources.com www.venaresources.com
Tags: broker business exploration frankfurt Private Placement securities
Companies: Vena Resources Inc (VEM), Vena Resources Inc (VNARF)
Pinnacle Digest: Shareholder Opinions Requested After Pilot Test Program Announced: Review
Nov 10, 2009 (M2 PRESSWIRE via COMTEX) --
www.PinnacleDigest.com is a performance-driven online financial magazine and social network with a proven track record. After yesterday's news from Vena Resources Inc. (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R)(OTCBB: VNARF) which announced that planning is in progress with a partner to begin a pilot test program and final economic assessment of the Azulcocha tailings deposit, our team is inviting all shareholders to their exclusive investor controlled forum. Our staff and members have requested that all Vena Resources shareholders join our community and share their thoughts on the company, its development and future outlook. One of the most important aspects when we research for new investments is to understand the sentiment of the current shareholders; that is why we have released this announcement - we want to know your opinion.
Join The Vena Resources Investor Discussion Here: http://www.pinnacledigest.com/company/vem:ca
Join PinnacleDigest.com to
Find out if Vena Resources makes it as a Pinnacle Featured Company,
Chat with other shareholders invested in Vena Resources
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Meet the thousands of investors who have already become members of the Pinnacle community.
PinnacleDigest.com is an investment club comprised of over 15,000 members. We use all of our member's insight when selecting our next investment opportunity. Your membership is free - join today.
PinnacleDigest.com has no vested interest in the company mentioned herein. The company mentioned in this release has not compensated PinnacleDigest.com in any form to disseminate this release.
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This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.
All material herein was prepared by Pinnacledigest.com (Pinnacle Digest) based upon information believed to be reliable. The information contained herein is not guaranteed by Pinnacledigest.com to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Pinnacledigest.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Pinnacledigest.com may receive compensation in cash or shares from independent third parties or from the companies mentioned.
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Pinnacledigest.com undertakes no obligation to update such statements.
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Tags: advisor annual report broker business community dealer frankfurt investment investment opinion market online pilot research securities track web
Companies: Vena Resources Inc (VEM), Vena Resources Inc (VNARF)
Vena Resources Completes Environment Impact Study for Oyon Coal Project - Zibb.com
TORONTO, ONTARIO, Oct 15, 2009 (MARKETWIRE via COMTEX) --
Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM)(LIMA: VEM)(FRANKFURT: V1R) is pleased to announce that it has recently completed an environmental impact study for the coal property in Oyon it purchased earlier this year and is expecting that by year-end it will have received all necessary government permits to start exploring and developing a production unit to serve the needs of the local cement manufacturers. Once the permits are obtained, the company plans to set up a mining operation with an initial production capacity of 350 tonnes-per-day, with the aim of supplying coal to a nearby cement plant which had previously been purchasing coal from this mine and has already expressed interest in reinitiating the purchases. Given the scale of the operation, a feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.
Vena, through its 100% owned subsidiary in Peru - Sudamericana de Carbon S.A. (SDC) - has reviewed several producing anthracite coal mines and is evaluating several potential sites for its coal classification facility in northern Peru. SDC expects to acquire two or three of these properties with a view to increasing production levels to service the needs of the local and international markets.
SDC's Oyon Coal Property
The geological sequence containing the coal seams corresponds to the Oyon formation of lower Cretaceous age. The coal seams outcrop on the east and west flanks of a north - south striking asymmetrical syncline. A number of coal seams hosted in dark gray slates and gray sandstones have been identified within the mining concession. Thicknesses of the seams varies from less than one metre to over four metres.
The Alexia and Micaela seams are the most significant due to their geological characteristics and their relatively continuous outcropping for over 670 metres with average thicknesses of 4.0 metres and 2.0 metres, respectively. The Alexia seam has been partially exploited but the old workings are currently collapsed due to the inadequate mining method used in the past.
The results obtained from chemical analyses of channel samples show ash content ranging from 6.0% to 31.5%; moderate to low volatile content ranging between 8.8% and 16.0%; fixed carbon ranging between 58.3% and 82.5%; and sulfur content below 1%.
This press release has been reviewed and approved by David Bent, P.Geo., Vena's Vice President of Exploration and Qualified Person as defined by NI43-101. Vena's exploration and development programs are being supervised by Mr. Bent.
For further information on Vena Resources, please visit the Company website at www.venaresources.com
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Shares Outstanding: 80,534,281
Fully-Diluted: 88,775,408
The TSX does not accept the responsibility for the adequacy or accuracy of this release
Contacts: Vena Resources Inc. Juan Vegarra Chairman & CEO (416) 364-7739, ext. 120 jvegarra@venaresources.com
SOURCE: Vena Resources Inc.
mailto:jvegarra@venaresources.com
Tags: acquisition business ceo coal coal mining environment environmental impact exploration frankfurt government mining peru plant president property
Companies: Vena Resources Inc (VEM), Vena Resources Inc (VNARF)
Web Sites
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Vena Resources Inc. - VEM Toronto ON CAN
Through an intelligent mapping environment, Intierra combines geotechnical and land tenure information with the Minmet Financial Markets service – a detailed, near real-time, company and project database, sourced from global stockmarket feeds.
http://www.intierra.com/html/companies/Vena%20Resources%20Inc..htm
StockHouse Canada
Tools provided by Stockgroup (OTCBB:SWEB TSX-V:SWB) Intraday data provided by ComStock Inc., a division of Interactive Data Corp.
http://www.stockhouse.ca/comp_database/morenews.asp?symbol=VEM&table=LIST
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Forbes | Peru- leading the way
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Vena Resources Incorporated Juan Vegarra, the chairman and chief executive of Vena Resources Inc., a Canada-based company, displays a unique approach to the business of mineral ...
News from Zibb.com
- Vena Resources Clarifies Information on Azulcocha West and Provides Additional Information on the
- Vena Resources Clarifies Information on Azulcocha West and Provides Additional Information on the
- Pinnacle Digest: Shareholder Opinions Requested After Pilot Test Program Announced: Review
- Vena Resources Completes Environment Impact Study for Oyon Coal Project - Zibb.com