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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

southridge enterprises inc (SRGE) Snapshot

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southridge enterprises inc (SRGE) Details

Southridge Enterprises, Inc., through its subsidiary, Southridge Minerals, Inc., focuses on the acquisition, exploration, and development of gold and silver mines in Mexico. The company holds an agreement to acquire a 100% interest in the Cinco Minas property covering approximately 10,750 hectares located northwest of the city of Guadalajara; and the Gran Cabrera property covering approximately 4,300 hectares located northwest of Cinco Minas. It also has an option to acquire a 40% interest in the Esperanza property covering approximately 106,333 hectares located north of La Estancia, Jalisco. The company was founded in 2004 and is based in Dallas, Texas. Southridge Enterprises Inc. operates as a subsidiary of Novamex Mineral SA.

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southridge enterprises inc (SRGE) Key Developments

Kinross Gold Corporation Issues Clarification Regarding Announcement by Southridge Enterprises Inc

Kinross Gold Corporation clarified a news release issued by Southridge Enterprises Inc. on December 26, 2012 announcing a joint partnership between itself and Kinross relating to the Cinco Minas and Gran Cabrera properties in Mexico. The news release contained a number of statements regarding the value and status of the joint venture, and a quote from a Kinross employee. Kinross made it clear that there is no such joint partnership, joint venture or other similar such arrangement or agreement in place, and nor do expect there to be such a joint partnership, agreement, acquisition, investment or other equivalent transaction involving Kinross and Southridge in the foreseeable future. The statements regarding the value and status of the joint partnership are, to the best of Kinross' knowledge, without any basis in fact. The statement attributed to the Kinross employee in the Southridge news release was incorrectly attributed to him.

Southridge Enterprises Inc. Announces Joint Partnership with Kinross

Southridge Enterprises Inc. announced a new Joint Partner, Kinross. Southridge's joint partnership with Kinross is valued at roughly $550,000,000 to $600,000,000. Southridge and its advisers are currently working hand in hand with Kinross to finalize the remaining documents and agreements in order to execute this new joint partnership for its Cinco Minas and Gran Cabrera properties with Kinross. Due to the size and complexity of this transaction expect to execute this joint partnership with Kinross by Mid-January.


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