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by Stockwatch Business Reporter

The TSX Venture Exchange added 0.44 of a point to 948.13 Thursday. Edward Farrauto's Raystar Capital Ltd. (RYA) expects to close its acquisition of the Point Leamington gold-silver-zinc-copper property in Newfoundland by Oct. 1. It has received TSX-V approval to complete the deal and also to change its name to Newmarket Gold Inc.

Raystar must pay $250,000 and issue one million shares to Calibre Mining Corp. (CXB: $0.06), another company managed by Mr. Farrauto and others from Raystar. This is the second time a Farrauto company has bought Point Leamington. In 2004, as president of Calibre, he arranged to acquire the property for $125,000 and 150,000 shares. In 2005, after disappointing drill results, Calibre turned its attention to a gold property in Nicaragua, which it continues to explore. It has not done any work on Point Leamington since.

Mr. Farrauto has recruited some of Canada's best-known promoters to participate in this promotion. Raystar's largest shareholders are Douglas Forster, Blayne Johnson and Lukas Lundin, each with 6.33 million shares, and Randall Oliphant, with 6.04 million shares. Each of them will be directors following this QT, with Mr. Forster as president. Raystar's Mr. Farrauto, who owns 2.04 million shares, will remain a director. We discussed him at length in the Shell Summary for June 25, 2013, concluding he sells his shells well.

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