“The cornerstone investment in China Xintiandi provides Brookfield exposure to high quality assets in Shanghai while allowing an opportunity for future growth through asset purchases and strategic partnerships,” said Bill Powell, Australasian Chief Executive Officer of Brookfield. “China is an important market in Brookfield’s long term growth. The partnership with Shui On Land to invest into China Xintiandi is an ideal way for us to enter this market.” Mr Vincent Lo, Chairman of Shui On Land and China Xintiandi, says he is delighted to enter into the investment and cooperation agreement with Brookfield: “Brookfield is a leading global asset investor and manager. We share a common vision on the tremendous prospects of China’s commercial property sector because of the massive urbanization program and the continuous rise in personal income in China. We also strongly believe in China Xintiandi’s potential to create sustainable value from its quality portfolio. Our common goal is to forge a long term, successful partnership.” The transaction is expected to close in the first quarter of 2014. About Brookfield Property Partners Brookfield Property Partners is a commercial real estate owner, operator and investor operating globally. Our diversified portfolio includes interests in over 300 office and retail properties encompassing approximately 250 million square feet. In addition, we have interests in over 20,000 multi-family units, 64 million square feet of industrial space and an 18 million square foot office development pipeline. Our goal is to be the leading global investor in best in class commercial property assets. For more information, please visit http://www.brookfieldpropertypartners.com Forward-Looking Statements This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and applicable regulations and “forward-looking statements” within the meaning of “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding our operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts”, “likely”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: risks incidental to the ownership and operation of real estate properties including local real estate conditions; the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the ability to enter into new leases or renew leases on favorable terms; business competition; dependence on tenants’ financial condition; the use of debt to finance our business; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; uncertainties of real estate development or redevelopment; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; risks relating to our insurance coverage; the possible impact of international conflicts and other developments including terrorist acts; potential environmental liabilities; changes in tax laws and other tax related risks; dependence on management personnel; illiquidity of investments; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits therefrom; operational and reputational risks; catastrophic events, such as earthquakes and hurricanes; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States. We caution that the foregoing list of important factors that may affect future results is not exhaustive.
Analysis: N.J. voters’ biggest concern — property taxes — gets little regard on campaign trail
TerraX’s sampling produced chip sample assays as high as 6 m @ 7.29 g/t Au. Highlights of this field work are summarized in the following table. A map showing the location of the Walsh Lake property and the location of the sampling referenced below is available on our web site at http://www.terraxminerals.com. Results of TerraX’s September 2013 Surface Sampling, Walsh Lake Property ———————————————————————– —– Showing Length (m) Au (g/t) —————————————————————————- Sam Otto 5.0 1.90 —————————————————————————- Mispickel Island 4.0 3.55 —————————————————————————- Mispickel Island 6.0 7.29 —————————————————————————- including 1.0 30.80 —————————————————————————- Samex 4.0 6.20 —————————————————————————- including 1.0 22.30 —————————————————————————- Nib Central 4.0 1.51 —————————————————————————- Nib North 3.0 1.45 —————————————————————————- The Walsh Lake property is underlain by Archean felsic volcanics and sediments. The structural regime on the Walsh Lake and Northbelt properties appears to be similar, with gold on the Walsh Lake property occurring in subvertical, NNW to NNE trending shear zones and associated quartz veins and biotite or sericite schists. TerraX can acquire a 100% interest in the Walsh Lake property over a four year period by making option payments totaling $90,000 ($5,000 on signing and $10,000 on the first anniversary of signing), issuing 260,000 shares (30,000 shares in the first year) and funding $400,000 of exploration expenditures ($25,000 in the first year). The vendor will retain a 2% NSR, of which 1.5% can be purchased by TerraX for $2 Million. TerraX has not completed a detailed compilation of the property, but as part of its due diligence has reviewed several reports and spent two days in September 2013 collecting samples from trenches and showings. The property has been intermittently explored since the 1930’s, including campaigns by Barrick Gold, Rubicon Minerals, Inmet Mining, and Nebex Resources Ltd. This previous exploration activity has included prospecting, mapping, soil geochemistry, airborne geophysics, Induced Polarization (ground geophysics), excavation of numerous trenches, and the drilling of at least 101 drill holes. Numerous anomalous trench and drill hole intersections have been reported, with highlights summarized in the following tables: Results of Historical Grab and Trench Sampling, Walsh Lake Property ———————————————————————– —– Showing Length (m) Au (g/t) —————————————————————————- Sam Otto (Trench 6) 1.5 6.00 —————————————————————————- Sam Otto (Trench 8) 1.0 4.70 —————————————————————————- Samex Island 2.4 8.98 —————————————————————————- Nib North (Trench NN-8) 1.06 15.17 —————————————————————————- Nib North (Trench NN-9) 3.04 3.45 —————————————————————————- Mispickel Island 1.10 8.98 —————————————————————————- Mos Grab 150.0 —————————————————————————- Historical Drill Intersections, Walsh Lake Property ———————————————————————– —– Showing Drill Hole Length (m) Au (g/t) —————————————————————————- Sam Otto W89-1 15.85 2.59 —————————————————————————- Sam Otto W89-2 29.96 1.11 —————————————————————————- Sam Otto W93-1 10.08 3.09 —————————————————————————- Sam Otto W95-2 4.16 5.17 —————————————————————————- Sam Otto WLP-00-02 11.5 2.47 —————————————————————————- Sam Otto North W95-31 2.40 7.00 —————————————————————————- Sam Otto North W97-6 1.84 8.31 —————————————————————————- Sam North W95-12 3.35 6.11 —————————————————————————- Dave’s Pond W95-29 4.75 5.61 —————————————————————————- Dave’s Pond W95-33 1.60 11.81 —————————————————————————- Mispickel Northwest W97-4 2.50 3.50 —————————————————————————- TerraX plans to undertake a detailed compilation of previous work prior to formulating an exploration plan for the Walsh Lake property. The technical information contained in this news release has been approved by Tom Setterfield, Vice President Exploration of TerraX, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.” The Northbelt gold property encompasses 3,562 hectares on the prolific Yellowknife belt, 15 km north of the city of Yellowknife, and covers 13 km of strike on the northern extension of the geology that contained the Giant (7.6 Moz) and Con (5.5 Moz) gold mines. The Northbelt property is host to multiple shears that are the recognized hosts for gold deposits in the Yellowknife camp and it contains innumerable gold showings. On behalf of the Board of Directors, Joseph Campbell, President Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
While Christie has also pitched a new income tax credit for middle-class homeowners tied to property tax bills, its unclear if the state has the money to pay for it or that Democratic lawmakers will sign off on it. Also unclear is exactly how much across-the-board savings would come from changing civil service and sick-time polices. Governor Christie is just chasing headlines, said Sam Salustro, a spokesman for the Buono campaign. The biggest driver of property taxes under his watch was his drastic cuts to property tax relief. Relief is what gets money into the pockets of middle-class families tomorrow. And though Buono wants to boost funding for property tax relief and school aid, its unlikely just an increase of the income tax rate on earnings over $1 million would bring in enough revenue to make a meaningful difference. The income tax is also one of the states most volatile sources of revenue, something Corzine learned when he was forced to cut property tax relief when state revenues dropped off during the last recession. Christie has also raised concerns that Buono might hike other taxes, like Corzines 2006 increase of the sales tax, to bring in more funds for property tax relief. Salustro promises that wont happen. This is a process that weve begun to go down and that is working when you look at the growth in the property tax levy over the past two years, said Christie campaign spokesman Kevin Roberts. Senator Buono has no such vision or solutions to control the growth in these costs; she simply wants to shift them to the state government and spend more money. Still, it would seem voters might be open to a change from Christies approach since the same polls that show the governor well ahead of Buono give him a losing grade on the tax issue. While 61 percent of the states registered voters viewed Christie favorably in a recent Rutgers-Eagleton Poll, only 38 percent approved of his handling of taxes. The biggest problem for Buono, who has had trouble raising money and is running with little support from other prominent Democrats, seems to be a difficulty selling her message.