Junior roundup: Stroud, Miranda, Gran Colombia, Camino

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Monday, August 12, 2013

Toronto-based Stroud Resources (TSX-V: SDR) has extended the final date for completion of its previously announced non-brokered private placement to August 31.

The company plans to issue on a private placement basis up to 20mn units at a price of Cdn$0.02 per unit to raise gross proceeds of up to Cdn$400,000 (US$387,935), according to a release.

The company has a 100% interest in the Santo Domingo epithermal silver-gold project in Mexico and assets in Canada.

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Vancouverite Miranda Gold (TSX-V: MAD) has applied to Colombia's national mining agency (ANM) for four exploration licenses in two prospective areas in the Antioquia batholith, a company statement reads.

The applications cover an area of approximately 5,600ha, located 48km-139km northeast of the Antioquia department capital of Medellín.

Exploration work and application costs were funded under the strategic alliance Miranda has with Agnico Eagle Mines (NYSE, TSX: AEM).

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Toronto-based Gran Colombia Gold (TSX:GCM) has taken further steps to reduce operating costs as part of phase III of its continuing program at its Segovia operation in Colombia's Antioquia department.

The company cut an additional Cdn$400,000 per month, or some Cdn$5.3/oz, through a workforce reduction, a statement reads.

The impact of the measure will begin to benefit Gran Colombia's all-in sustaining cash costs, currently approximately Cdn$1,200, at the beginning of October.

The company also announced additional drilling results from the Providencia vein system at the Segovia project, including 5.34m of 19.5g/t gold and 8.07g/t silver.

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Vancouver-based Camino Minerals (TSX-V: COR) said in a release it received the final assay results from its recently completed diamond drill campaign at the El Secreto gold-silver project in Mexico's Sinaloa state.

The company drilled a total of 2,984m on 13 holes. Highlights include 6m of 232g/t silver and 0.33% lead, and 30m of 0.58g/t gold and 11.1g/t silver.

Click here for the full press release.