Resource Stocks Trading on November 23, 2010 (at time of release)
- CIC Energy Corp. (TSX.ELC) trading at $6.88, up 1.68 (32.50%)
- Aroway Minerals Inc (TSX.V: ARW) trading at $0.50, up 0.06 (13.64%)
- MEDORO RESOURCES LTD (TSX.MRS) trading at $2.04, up 0.04 (2.00%)
Aroway Minerals Inc (TSX.V: ARW)
“Vancouver, B.C. - November 22, 2010 (Investorideas.com energy newswire) – AROWAY MINERALS INC. (TSX VENTURE: ARW.V) (the "Company") is pleased to report drilling operations on the second well of its Peace River Arch exploration program with its farm-in partner have begun. The 3D seismically defined multi-zone prospective well is targeting the Leduc formation at a depth of approximately 2,100 meters. The drilling operations of this well are operated by the Company's joint venture farm-in partner with the Company paying 75% of all costs associated with the well to earn a 50% interest in the well. The exploration well is expected to take approximately 17 days to reach total depth.
This is the second of two or possibly three exploration wells planned before year end. All of the exploration wells are defined by 3D seismic and all have prospectivity in at least 10 different zones throughout the well-bore with each well penetrating the Leduc formation in the Peace River Arch area of Alberta.”
Full News: http://www.investorideas.com/news/energy/11222.asp
CIC Energy Corp. (TSX.ELC)
CIC ENERGY ANNOUNCES AN ALL-CASH OFFER FROM JSW ENERGY LIMITED TO ACQUIRE CIC ENERGY
"ROAD TOWN, Tortola, British Virgin Islands, Nov. 23 /CNW/ - CIC Energy Corp. ("CIC Energy" or the "Company") (TSX:ELC, BSE:CIC Energy) is pleased to announce that it has entered into a binding agreement (the "Agreement") with JSW Energy Limited ("JSW"), a power company listed on the National Stock Exchange and the Bombay Stock Exchange, whereby JSW has agreed to offer to acquire 100% of the issued and outstanding shares of the Company, including shares issuable pursuant to the exercise of outstanding options, (the "Offer") for CDN$7.42 per share pursuant to a formal take-over bid. Shareholders will be entitled to tender all of their shareholdings to the Offer."
MEDORO RESOURCES LTD (TSX.MRS)
About Medoro Resources Ltd.
Medoro Resources Ltd. is a gold exploration, development and mining company with a primary emphasis on Colombia. The Company operates the producing Mineros Nacionales gold mine located in Zona Baja at Marmato and is conducting an exploration and in-fill drilling program at its Marmato Project to upgrade and expand its gold resources there. Medoro also has a 5% interest in the Frontino Gold Mines with an option to increase its interest to 50%.
Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela where it is continuing its efforts to obtain an exploitation permit to allow development of these gold properties when circumstances in Venezuela allow. Medoro owns interests in gold exploration properties in Mali in respect of which it is seeking possible joint venture partners to further explore these properties.
Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the Company's profile on SEDAR at www.sedar.com.
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More info on Aroway Minerals Inc (TSX.V: ARW): www.arowayenergy.com
Contact Aroway Minerals Inc (TSX.V: ARW)
Investor Cubed Inc.:
Telephone: (647) 258-3311, (888) 258-3323
Fax: (416) 363-7977
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