Start your day the Salazar Way: A smile, a cheer and a cease trade order

Now here's a different one. The BCSC, revelling in its new muscular "we're gonna clean up this town" persona, has just slapped a cease trade order on Salazar Resources (SRL.v) because it doesn't much like the contents of SRL.v's Feb 2009 technical report and says it doesn't come up to standard. If you feel like downloading the report in question, go find it on the Salazar page of SEDAR (it's 42Mb, be warned) but all you really need to know is alluded to by SRL in this morning's NR:

" On September 10, 2010, when it issued the Cease Trade Order, the BCSC advised the Company that it continued to have significant concerns about the Amended Technical Report and the qualifications, objectivity and independence of the author thereof. "

So the BCSC picks on Fredy Salazar, a guy known as one of the better, straighter shooting and more honest dudes in the junior mining sphere. I'M GOOD WITH THAT! I like this new aggressive BCSC and I like the fact they're going after anyone who's been lax with the rules (according to themselves, at least) and reputations can go hang. Meanwhile, SRL gets a serious image-slapping and its shareholders have a few days to wait and wonder what the stock is going to do once it gets out of hock. DYODD.

Salazar (SRL.v) Finances

Shocked, ah wuz shocked ah say! Just a day after Salazar Resources (SRL.v) announced some sparkling drill numbers (that headline hole is around U$1,030 per tonne metal value at today's prices), the Can of Corn gets its pound of flesh:

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2010) - Salazar Resources Ltd. ("Salazar") (TSX VENTURE:SRL - News; FRANKFURT:CCG - News) is pleased to announce a brokered private placement (the "Brokered Offering") with Canaccord Genuity Corp. ("Canaccord" or the "Agent") of 2,730,000 Units (the "Units") priced at $1.10 per Unit. Each Unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole warrant will entitle the holder to subscribe for one additional common share (a "Warrant Share") for a period of two years from the date of closing at a price of $ 1.50 in the first year and $1.75 in the second year. Salazar will also be undertaking a non-brokered financing of 1,818,200 units on the same terms as the Brokered Offering.

As consideration for acting as Agent, Canaccord will be paid a cash and Agent's warrant ("Agent's Warrants") commission based on yada yada continues here

And thus a $10 bet is won, as this humble scribe wagered a friend this morning (who will remain nameless to save further embarrassment) that SRL would run a financing before the week was out. Smart guy that Fredy Salazar.

So it goes.