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nubian resources ltd (NBR) Snapshot

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08/6/13 - C$0.09
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nubian resources ltd (NBR) Details

Nubian Resources Ltd., a junior mineral resource exploration company, engages in the exploration of mineral properties primarily in the United States. It focuses on exploring gold, copper, lead, zinc, and silver ores. The company holds interests in the Excelsior Springs gold property with mining claims covering an area of 3.5 square kilometers (km2) located in Esmeralda county, Nevada; the Dunfee gold project with 22 unpatented claims located in Gold Point mining district, Esmeralda county, Nevada; and the Blair Junction gold project with 10 unpatented claims located in Mount Diablo Meridian, Esmeralda county, Nevada. It also holds interests in the Leach Hot Springs gold-silver project with 4 claims located in Pershing County, Nevada; Enright Hill gold-silver project with 4 claims located to the north of Elko city, Nevada; Copper Hills gold project with 10 unpatented claims located in Socorro county, New Mexico; Worthing Canyon lead-zinc-silver-gold property with 18 unpatented claims in Birch Creek mining district, Lemhi county, Idaho; and Pipestone gold-silver property wit 4 unpatented claims located in Jefferson county, Montana. The company was formerly known as ICS Copper Systems Ltd. and changed its name to Nubian Resources Ltd. in February 2011. Nubian Resources Ltd. was incorporated in 2004 and is headquartered in Abbotsford, Canada.

Founded in 2004

nubian resources ltd (NBR) Top Compensated Officers

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Compensation as of Fiscal Year 2012.

nubian resources ltd (NBR) Key Developments

Nubian Resources Ltd. Enters into Debt Restructuring Agreements

Nubian Resources Ltd. announced that it has entered into debt restructuring agreements with related parties to replace, effective November 15, 2013, an aggregate of $253,534.25 of currently due and payable liabilities with promissory notes in equivalent principal amounts. The notes will be unsecured, bear interest at the rate of 10% per annum compounded monthly and mature on November 15, 2015. The company will have the right to repay the notes at any time without notice or penalty. The company intends to close the transaction as soon as possible. The company considers any abridging of time requirements to be reasonable in the circumstances given that the liabilities are already due and payable and the reasonableness of the commercial terms of the transaction. The company is also pleased to announce that Timber Wolf Minerals Ltd. has agreed to a deferral of payments due under the asset purchase agreement dated October 31, 2011, for a period of six months.

Nubian Resources Ltd Auditor Raises 'Going Concern' Doubt

Nubian Resources Ltd filed its Annual on Oct 24, 2013 for the period ending Jul 31, 2013. In this report its auditor, Morgan & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Nubian Resources Ltd. Enters into Agreement with Global Geoscience Ltd

Nubian Resources Ltd. announced that it has entered into an agreement with Global Geoscience Ltd., to include Global's 60 claims at Excelsior Springs project which are outside of Nubian's area into Nubian's claim block. The total number of claims now held at Excelsior is 245 covering a total area of 4,900 acres (1,983 hectares). The current option agreement with Global will be extended until 31st December 2015. Up to date a total of 10,767m of drilling has been done at Excelsior (5,638m by Global) having identified numerous targets outside the Buster zone and extending into these additional claims. A continuation of the geophysics program has been completed and has identified additional targets within this claim area. Further drilling is expected to continue in Spring 2014. Global has an option to earn an interest of 70% in Excelsior by spending a total of $3 Million in exploration until 31st December 2015.


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