Proactiveinvestors recommends
Additional Information
Market: TSX
Sector: General Mining
EPIC: CGH
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Canadian Gold Hunter
www.canadiangoldhunter.com

Canadian Gold Hunter has a large portfolio of gold/copper projects in Canada, Mexico and several countries in South America. Projects range from grass-roots to advanced-stage exploration.

Full Canadian Gold Hunter profile here
Pdf

Canadian Gold Hunter gobbles up Sanu Resources in all share deal

2nd Jul 2009, 3:45 pm
Canadian Gold Hunter gobbles up Sanu Resources in all share deal
Canadian Gold Hunter Corp. (TSX: CGH) announced that it would acquire junior exploration company, Sanu Resources (TSXV: SNU) in an all share deal.

Canadian Gold Hunter will issue 0.5725 shares for each Sanu Resources share, which based on the 20 day volume weighted share price of the two companies represented a 25% premium for Sanu Resources shareholders. Post transaction, Sanu Resources shareholder will hold 17.8% of the combined entity.

The transaction has been approved by the board of Sanu Resources.

Canadian Gold Hunter said the deal would bring in a “strong portfolio of gold and base metal exploration projects in Africa.” Sanu’s most advanced asset is the Hambok deposit in Eritrea which hosts a 43-101 compliant indicated resource of 10.7 million tonnes grading 0.98% copper, 2.25% zine, 6.84 grams per tonne silver and 0.2 grams per tonne gold at a 0.75% zinc cutoff, plus a further 17 million tonnes of 0.85% copper, 1.74% zinc, 5.89 grams per tonne silver and 0.19 grams per tonne gold in the inferred category.

Hambok is located only 15 kilometres from the Bisha deposit being developed by Nevsun Resources (TSX & AMEX: NSU) and the Eritrean Government.

Canadian Gold Hunter current interests are in Canada, Mexico, Argentina, Chile, Colombia and Peru. Its most advanced project is the Josemaria copper/gold porphyry project with a 43-101 inferred resource of 460 million tonnes grading 0.39% copper and 0.30 g/t gold at a 0.3% TCu cut-off, containing 3.9 billion pounds of copper and 4.4 million ounces of gold


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.