This is the largest foreign direct investment made in a jewellery firm in India and the news comes close on the heels of the recent visit of Prime Minister Narendra Modi where he met the top brass of the investment firm.
Secutor Capital Management Corporation will act as exclusive finder in connection with this non-brokered private placement. A 7% finders' fee will be paid in cash, and 5% finders' warrants will be issued by the Company in conjunction with the completion of the Private Placement.
Lack of capital could lead to more mergers and acquisitions in mining space. However companies that were on a spending spree in 2009, 2010 such as Barrick Gold Corp (ABX:TSX, ABX:NYSE) may be shy of mergers because of their past experiences and support among shareholder base.
Oceanus Resources Corporation publicized assay results of its drilling program at the La Lajita property in Durango, Mexico. The program consisted of twenty-one (21) holes of PQ triple tube core (PQ3) diamond drill core measuring 3,002.5 meters at the Santo Nino and Dos Hermanos Prospects.