red arrow mine(s) colorado, page-19

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Deals this week: Alcyone Resources, Xtract Resources, Kent Exploration and more
13 December 2013

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Australia-based silver miner Alcyone Resources has signed a A$25m financing deal with investment management firm Platinum Partners.
Alcyone has also agreed to acquire the Red Arrow mine in the US for A$5m.
The acquisition will be funded by way of a A$1m equity issue with Platinum, completed on execution, and a A$4m convertible loan note, to be drawn on release and grant of security changes.
The Red Arrow gold and silver mine is located 13km northeast of Mancos in the La Plata Mining District, Montezuma County, Colorado, US.
The property features 370 acres of patented mining claims and 160 acres of unpatented mining claims.
Alcyone said the mine has historically produced commercial-grade gold and silver ore and, according to an independent geological survey conducted in January 2010, has the potential for extensive commercial development.