Thursday, March 11, 2010

Centurys Gold Deal with German Bank

When I first heard of the deal with the bank, I though it was fantastic. I actually called Peggy to see if it was possible to increase it. She told me she didn't think so, as she though it was expensive. I disagreed. And in the end, it was increased. But for those who thought he deal was expensive, I'll post some news I found today, and I believe it shows just how good a deal Peggy and he Board we able to swing!

Rgds Pete


NEWS


Last updated at 9:42 AM on 11/03/10

Financial boost Rambler secures multi-million dollar dealBILLY CANNING The Nor'wester
Rambler Metals and Mining is receiving a huge financial boost from a mining company in Vancouver.Sandstorm Resources has agreed to provide Rambler with US $20 million in exchange for 43,750 ounces of gold.President and CEO of Rambler George Ogilvie said the deal comprises of a 10-year agreement that will see Sandstorm get 25 per cent of the roughly 175,000 ounces Rambler is anticipating to mine from the Ming Mine copper-gold site in its first 10 years of operation.Once they reach that target, Sandstorm will get 12 per cent for the next 40 years. And after that point, it's their choice to renew the deal for 10-year increments, said Mr. Ogilvie."It's a very good deal for Rambler because it gets us access to $20 million today, which allows us to rapidly move ahead with our construction campaign," he said. "...If the gold prices are at today's level, Rambler sees the benefit of that on the other 75 per cent of gold that is in our possession."

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