Business
Resinco Capital Partners Inc. Provides Letter to Shareholders
Resinco Capital Partners Inc. Provides Letter to Shareholders
About this update from Terreno Resources Corp.
[{"type":"text","content":"\nResinco Capital Partners Inc. Provides Letter to Shareholders\n\n\n Dec. 16, 2010 (Filing Services Canada) -- Resinco(TM) Capital Partners Inc.  (RIN - TSX, L6V1 - FWB), announces that the following letter has been mailed to its shareholders of record:As part of our commitment to maintain regular communication with our shareholders we are delighted to publish our second shareholder letter of 2010. By the time you are in receipt of this letter, the year will almost be concluded, and it has been a fascinating year from many perspectives. During the course of the year management has been focused on three primary objectives from an operational perspective, namely;1. Assisting in the development of our core investments at both a strategic and executional level.2. Increasing our portfolio with high potential assets.3. Strict cost control with a focus of performance based compensation for employees, consultants and vendors alike.Against all of the three aforementioned key objectives we have delivered positive results as detailed below.Since our last shareholder letter there have been a number of announcements made that we would like to share with you in addition to some exciting portfolio news which we believe will positively affect both our near term and long term enterprise value.The following events and activities are noteworthy:1. Acquisition of the following securities: (i) Additional 312,500 shares of Lions Gate Metals Inc. (plus 156,250 warrants). As of December 3rd, 2010 Resinco owns 19.51% of all issued shares of the company. If we were to exercise our warrants our ownership would increase to 27.2%. (ii) Additional 500,000 common shares of Cue Resources Ltd. in July followed by 4,285,715 common shares and an equal number of warrantsin November. Resinco currently owns 23,476,850 of the total issued and outstanding shares equating to a 20.66% ownership position. (iii) Additional 1,000,000 common shares in Teslin River Resources Corp. Resinco's current shareholding is 11,216,420 which represents 33.9% ownership position of the issued and outstanding shares. (iv) Additional 1,666,667 common shares and 1,666,667 warrants in Terreno Resources Corp. (formerly Mega Moly Inc.). Resinco's current ownership is 7,288,267 of the total issued and outstanding securities representing a 19.60% ownership position.In summary, since o...