Cream Minerals Ltd. (TSXV:CMA) has entered into a LOI for the sale of its Nueveo Milenio Silver-Gold project in Mexico for $600,000. The acquisition is being led by a group which includes current Cream shareholders.
In November 2010, Vancouver-based Endeavour Silver made a 14 cent offer for all of Cream’s 88 million shares, implying Nuevo Milenio was worth approx. $12.32 million at the time.
Vancouver promoter Frank Lang, who co-founded Cream in 1966 and is still its largest shareholder, fought off the takeover, claiming it was too cheap (Ed. note: Mr. Lang is well known in mining for his role in the 1982 discovery at Hemlo, which became one of Canada’s largest gold mines).
Nuevo Milenio was then promoted as having upside potential. A new, 43-101 compliant resource estimate was in the works. The company’s shares soared to a high of 48 cents in early 2011 at the high of the junior mining bull market.
After a delayed and ultimately disappointing resource estimate, the Cream soured.
The company has been reborn many times over its nearly 50 year history. With Cream’s shares last trading at .005 there’s not much left to do now other than roll-it-back, and start again.
Original post
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Polski
- Português (Portugal)
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
The Cream Sours: Frank Lang’s Cream Minerals Punts The Nuevo Milenio
Published 07/31/2013, 01:36 AM
Updated 07/09/2023, 06:31 AM
The Cream Sours: Frank Lang’s Cream Minerals Punts The Nuevo Milenio
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.