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Last C$0.04 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 5:00 PM 04/28/15 All times are local (Market data is delayed by at least 15 minutes).

parallel mining corp (PAL) Snapshot

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52 Week High
08/29/14 - C$0.07
52 Week Low
03/26/15 - C$0.03
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Current Stock Chart for PARALLEL MINING CORP (PAL)

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parallel mining corp (PAL) Details

Parallel Mining Corp. engages in the evaluation, acquisition, exploration, development, and exploitation of base and precious metal properties in Canada. The company holds a 100% interest in the Kains Lake property that consists of 8 claims covering an area of approximately 1657.3 hectares located to the west of Port Hardy, Vancouver Island, Canada. It also owns interest in the Nexkin property located in British Columbia, Canada. The company was formerly known as Parallel Resources Ltd. and changed its name to Parallel Mining Corp. in December 2011. Parallel Mining Corp. was incorporated in 2007 and is based in Vancouver, Canada.

Founded in 2007

parallel mining corp (PAL) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

parallel mining corp (PAL) Key Developments

Parallel Mining to Acquire Right to Earn Interest in Burkina Faso Gold Property

Parallel Mining Corp. announced that it has entered into an agreement to acquire an option to earn a 100% interest in a 165.74 km2 exploration permit in a highly prospective greenstone gold belt located in Burkina Faso, West Africa. The Garsay permit is located in the province of Soum, approximately 250 kilometers north-east of the capital city of Ouagadougou and approximately 30 kilometers east of the Inata Gold Mine and Souma deposit owned by Avocet Mining PLC. (135,000 oz/year gold production and 6.1 million ounces of gold). The Company signed an agreement with 0909189 BC Ltd. ("0909189") and 0909189's shareholders to acquire all of the outstanding shares of 0909189 by issuing one common share of Parallel for each one share of 0909189. 0909189 currently has six million shares issued and outstanding. The primary asset held by 0909189 is the option to acquire the Garsay exploration permit. The Garsay permit was previously optioned by Newmont Mining Corporation until their departure from Burkina Faso. Prior to that, Newmont conducted geophysics, soil sampling and pit sampling along with 12,355 total meters of air core, reverse circulation and diamond core drilling. This substantial existing data has delineated a number of high-grade, drill-ready targets.

Parallel Mining Corp. Auditor Raises 'Going Concern' Doubt

Parallel Mining Corp. filed its Annual on Sep 23, 2014 for the period ending May 31, 2014. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Parallel Mining Corp., Annual General Meeting, Nov 12, 2014

Parallel Mining Corp., Annual General Meeting, Nov 12, 2014., at 11:00 Pacific Standard Time. Location: Suit 804-750 West Pender Street. Agenda: To receive the audited financial statements of the Company for the financial year ended May 31, 2014, the auditor's report and the management's discussion and analysis for the financial year ended May 31, 2014; to fix the number of directors for the ensuing year at four; to elect directors of the Company for the ensuing year; to re-appoint Davidson & Company, Chartered Accountants as auditors of the Company for the ensuing year and to authorize the board of directors to fix the auditor's remuneration; to consider ratify and approve the Advance Notice Policy; to re-approve the 10% rolling stock option plan; and to transact such other business as may properly come before the meeting or at any adjournment.


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