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WSNC
Traders Alert
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 Elray
Gaming. Inc. (OTC:ELRA)
Online and mobile casino technology, smaller version of Zynga (ZNGA)
- 14 million outstanding, low float...target $0.50+
View Profile/Chart --- ELRA
Quote
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DUCP Acquires
$27 Billion in Gold Reserves
By:
staff reporter, John Bodger
Last
Updated: May 29, 2012 - 11:55am EST
(NEW YORK) --(NEW
YORK) --Daulton Capital Corp. (OTC:DUCP), announced
the acquisition of nearly $27 billion in Gold mining
reserves in a reverse merger.
The Company announced it had entered into an agreement to
acquire Grimsby Investments Limited and its subsidiaries
including two Australian Companies engaged in a Gold mining
project known as the ARX Springs Gold project, located in
the Wide Bay Burnett Region of Queensland, Australia.
The agreement provides for
the company to acquire Grimsby Investments Limited from its
shareholders together with its Singapore company ARX Springs
Pte Ltd and the two Australian subsidiaries that hold the
gold project known as ARX Springs in exchange for $4,298
billion in consideration, to be satisfied by the issue of
4.148 billion in restricted common stock, $75 million in
non-convertible preferred share series with 5 votes per
share and $75 million in a ten year non-convertible
promissory note issued in favor of shareholders of Grimsby
Investments Limited.
The ARX Springs Gold
property is located at Coonambula near Eidsvold in
Queensland, Australia, and has gold resources estimated at
between 16,000,000 to 18,000,000 (Sixteen to Eighteen
Million) ounces of gold and estimated to generated a cash
flow of $22 billion over the planned 20 year life of the
mine based on current gold prices.
Research Upgrade
Ludlow Capital, and equity research firm based out of New
York City, issued a note that even with 4 billion shares
outstanding, and taking in just account of 10% value of
their Gold reserves of $2.7 billion, that would give DUCP a
fair target of at least around $0.40 to $0.50 per share, and
real prospects for up listing to possible AMEX exchange.
DUCP was up nearly 66% in morning trading at a price of
$0.12 per share.
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Safe
Harbor Statements:
This
research report includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those projected.
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This is NOT a solicitation to Buy or Sell any security, but rather
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includes facts, views, opinions and recommendations of individuals
and organizations deemed of interest. Wall Street Newscast ("WSNC")
does not guarantee the accuracy, completeness or timeliness of, or
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give investment advice. WSNC, its affiliates, or directors, may or
may not hold a position in the above security from time to time,
and investors are encourage to consider this as a possible
conflict of interest when reviewing this information. In
Compliance with SEC Rule 17B Wall Street Newscast was compensated
one thousand dollars, by third party, for ongoing research and media coverage. WSNC may hold a position
in above securities from time to time, and
thus should be considered a possible conflict of interest when
reviewing this report and information. These investments may
involve a high degree of risk, thus investors are highly
encouraged to consult with a financial advisor before any and all
investments.
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