TORONTO, ONTARIO, Nov 03 (MARKET WIRE) --
Pinetree Capital Ltd. (TSX:PNP), announces that through a series of
transactions ending on November 2, 2011, it acquired ownership of
2,750,000 common shares ("Common Shares") of Cream Minerals Ltd. ("Cream
Minerals") through the facilities of the TSX Venture Exchange,
representing approximately 1.8% of the total issued and outstanding
common shares of Cream Minerals as of November 2, 2011. As a result of
this transaction, Pinetree held, as at November 2, 2011, an aggregate of
23,250,000 common shares of Cream Minerals, including the Common Shares,
and rights to acquire an additional 5,000,000 common shares of Cream
Minerals upon exercise of certain convertible securities (the
"Convertible Securities"). In the event that the Convertible Securities
are fully exercised, the holdings of Pinetree represents a total of
28,250,000 common shares of Cream Minerals, or approximately 18.0% of all
issued and outstanding common shares as at November 2, 2011, calculated
on a partially diluted basis assuming the exercise of the Convertible
Securities only.
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Comments for "Valuation Metrics of Canadian Gold and Silver Miners"
Stock markets were up on both shores of the Atlantic, with on Wall Street the S&P up well over 1%. The PM rally however came to an end, with gold down about $10 (-0.5%) to $1785 by 4:40 pm and silver almost flat (-0.1%) at $34.92. Miners react adversely, ignoring the favourable stock market sentiment. We face losses outnumbering gains 9:5 on the GMP list. The gold miners index is down 1.4%, the silver miners index loses 0.65% and the equal weight index sheds 1.66%. We have 3 double digit losses against 2 dd gains.
On the upside: Plato Gold Corp. & TVI Pacific Inc. recover from yesterday's slide. on the downside, the stocks to avoid today were:
On the broad list, Minefinders reacted adversely on worse than anticipated quarterly results.
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Gwyde