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 our last shareholder communication we have successfully executed six (6) transactions. This calendar year we have concluded eleven (11) transactions in total.
2. We have expanded our Technical Advisory Board by one additional number. The TAB now consists of seven (7) members. The new inductee is Dr. Michael Smith who has exploration experience on six continents. Dr. Smith has worked with the British National Oil Corporation, Barrick International, The World Bank and European Commission on oil, gas, gold, diamonds, iron ore, vanadium and coal projects.
In 2010 the TAB has collectively evaluated in excess of sixty (60) projects. Their ability to verify, from a technical perspective, the quality of junior resource projects is invaluable to the company and we believe significantly reduces the financial risk in investing in early stage deals.
3. The company actively participated in the re-engineering of Mega Moly Inc. to transition it to Terreno Resources Corp. This re-engineering included a 5: 1 share roll back, management and board re-structuring, completion of a $3.5 million private placement and the acquisition of an option agreement in a very promising copper/gold property project in San Juan, Argentina located in the El Indio gold belt.
4. Resinco led a $2.75 million private placement for Cue Resources Ltd. which closed in November 2010. As a consequence of this financing a two phase drilling program has commenced at CUE's Yuty property in Paraguay. The initial phase which will result in a further 30 holes being drilled should be completed just prior to the end of December 2010.
5. During July 2010 Tanzania Minerals Corp., a private company which Resinco was instrumental in creating in 2007 turned public through a Reverse Take-Over (RTO) of Hill Top Resources Corp. Subsequently the company reverted to its original name of Tanzania Minerals Corp.
6. In November 2010 Shoal Point Energy Ltd. a private oil-in-shale exploration investment located on the west coast of Newfoundland, Canada became public, listing on the CNSX.
7. Expenses related to managing company continue to be a focus of management's attention. As published in Resinco's unaudited consolidated financial statements for the nine months ended September 30th 2010 expenses were $1,730,000 as compared to prior year of $2,553,000 a reduction of $823,000 or 32.2%.
Overall 2010 has been a rewarding year. We have seen significant and positive development of our portfolio assets and our strategy of being an active investor is starting to deliver benefits in terms of enterprise value improvements.
We believe we are well positioned to grow our business in 2011 from a number of perspectives. There is, we believe, tremendous value upside to be gained in many of our key investments and, in addition, we have a strong deal flow which should broaden and bolster our portfolio.
On behalf of the Board of Directors and employees of the company I would like to thank all of our shareholders for their continued support and loyalty.
Yours truly,
John Icke
President, CEO and Director
About Resinco(r) Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO(r) CAPITAL PARTNERS INC.:
John Icke
President and CEO
For more information, please contact
Resinco
Mike Rodger
Investor Relations
604-696-6515
info@resincocp.com
www.resincocp.com
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
RESINCO(r) CAPITAL PARTNERS
Trading Symbol-TSX: RIN
800 W. Pender Street, Suite 1430
Vancouver, BC Canada V6C 2V6
T 604-696-6515
T 1-877-687-5755
F 604-684-2990
www.resincocp.com
Source: Resinco(TM) Capital Partners Inc. (RIN - TSXV) www.resincocp.com
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