Proven ProbableClick here for the complete press release.
Stefan Axell
Director, Corporate Affairs
416-306-6328
info@franco-nevada.com
Sandip Rana
Chief Financial Officer
416-306-6303
VANCOUVER, BC / ACCESSWIRE / February 6, 2019 / NV Gold Corporation (TSX-V: NVX; OTC PINK: NVGLF) (“NV Gold” or the “Company“) is pleased to announce that Dr. Marcus Johnston has joined the Company as Vice President of Exploration, after serving as a consultant and Exploration Manager for NV Gold since early 2018.
“I am pleased to welcome Dr. Marcus Johnston to NV Gold’s executive management team as VP Exploration, after assisting the Company as Exploration Manager over the past year,” John E. Watson, Chairman of NV Gold commented. “We are currently reviewing multiple priority accretive exploration projects in preparation for the 2019 season, with the objective of securing an advanced mineral project to actively explore utilizing our multiple extensive geological databases, and in-house technical team and Board. Dr. Johnston’s extensive experience of evaluating and exploring properties in Nevada, will play a key role in advancing our mineral property portfolio in 2019. With a tight corporate share structure, low burn rate, and focused management team, we look forward to a positive year ahead. I wish to thank our supportive and patient shareholders, as displayed in the recent AGM voting, as we ensure we select and advance key mineral properties for exploration.”
Dr. Marcus Johnston, PhD in Economic Geology, brings more than 20 years of experience in exploration and mining, with an emphasis on mineral systems in Nevada. Dr. Johnston has consulted to various private groups over the past four years, including NV Gold, since early 2018. Prior to this, he has worked with Renaissance Gold Inc., Victoria Gold Corp., and Newmont Gold Corp. Dr. Johnston began his research on Carlin-type deposits in 1997, which led directly to the discovery of the Helen Zone (current resource is 713,000 oz gold and 237,000 oz silver) near the old Cove open pit in north-central Nevada, and revitalization of the entire McCoy mining district (now owned by Premier Gold Mines Ltd.). Dr. Johnston has evaluated more than 500 properties in Nevada, and played an integral role in advancing numerous exploration projects and active mines. Dr. Johnston holds a BSc from George Mason University, an MSc from the University of North Carolina Wilmington, a PhD from the Ralph J. Roberts Center for Research in Economic Geology at the University of Nevada, Reno, and is an active member and former President and Director of the Geological Society of Nevada.
NV Gold reports the strong support and re-election of John Watson (Chairman and CEO), Peter A. Ball (President & COO), Dr. Quinton Hennigh, Dr. Odin Christensen, and Alfred “Alf” Stewart as Directors of the Company at its annual general meeting held January 30, 2019. At the meeting, the Company’s shareholders also approved the renewal of the Company’s stock option plan and the re-appointment of Davidson & Company LLP as auditors of the Company, as set out in the Company’s management information circular dated December 11, 2018.
The Company announces that it has granted incentive stock options to an officer and consultant under its Stock Option Plan entitling them to purchase an aggregate of up to 375,000 common shares of the Company. The stock options are exercisable on or before January 30, 2024 at a price of $0.17 per share. In addition to receiving stock options, Dr. Johnston will also receive a one-time bonus of 190,000 shares of the Company in respect of his appointment, subject to TSX Venture Exchange acceptance.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
John E. Watson
Chairman and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & COO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. The expectation of creating shareholder value from NVX’s efforts as owner of the Properties and the Databases and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include market prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE: NV Gold Corporation
View source version on accesswire.com:
https://www.accesswire.com/534601/NV-Gold-Appoints-Dr-Marcus-Johnston-PhD-as-VP-Exploration
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TSX Trading symbol: U
TORONTO , Feb. 5, 2019 /CNW/ – Uranium Participation Corporation (“UPC”) (TSX:U) reports its estimated net asset value at January 31, 2019 was CAD$673.5 million or CAD$4.88 per share. As at January 31, 2019 , UPC’s uranium investment portfolio consisted of the following: View PDF
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(in thousands of Canadian dollars, except quantity amounts) |
Quantity |
Fair Value |
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Investments in Uranium: |
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Uranium oxide in concentrates (“U3O8“) |
14,159,354 lbs |
$ |
537,859 |
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Uranium hexafluoride (“UF6“) |
1,117,230 KgU |
$ |
129,227 |
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$ |
667,086 |
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U3O8 fair value1 per pound: |
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– In Canadian dollars1 |
$ |
37.99 |
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– In United States dollars |
$ |
28.90 |
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UF6 fair value1 per KgU: |
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– In Canadian dollars1 |
$ |
115.67 |
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– In United States dollars |
$ |
88.00 |
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1 Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of Canada’s month-end daily exchange rate of $1.3144 |
On the last trading day of January 2019 , the common shares of UPC closed on the TSX at a value of CAD$4.78 , which represents a 2.05% discount to the net asset value of CAD$4.88 per share.
About Uranium Participation Corporation
Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates (“U3O8“) and uranium hexafluoride (“UF6“) (collectively “uranium”), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on UPC’s website at www.uraniumparticipation.com.
Caution Regarding Forward-Looking Information
This press release contains certain forward-looking statements and forward-looking information that are based on UPC’s current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “plan”, “should”, “believe” or “continue” or the negative thereof or variations thereon or similar terminology and include statements with respect to UPC’s investment objectives.
By their very nature, forward-looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of UPC, may cause actual results to differ materially from the expectations expressed in the forward-looking statement. These factors include, but are not limited to, changes in commodity prices and foreign exchange as well as the risk that UPC will not obtain the anticipated benefits of its agreements with third parties. For a description of the principal risks of UPC, see “Risk Factors” in UPC’s Annual Information Form dated May 14, 2018 for the year ended February 28, 2018 , a copy of which is available at www.sedar.com.
These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward-looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward-looking statements. Except where required under applicable securities legislation, UPC does not undertake to update any forward-looking information statement.
SOURCE Uranium Participation Corporation
View original content: http://www.newswire.ca/en/releases/archive/February2019/05/c9193.html
February is now upon us and it’s time to share another construction update and some recent photos. Once again, we remain on schedule to enter production in Q4 of this year.
East Main Shaft
We have temporarily stopped lateral development on the 2770 and 2850 levels in order to install utilities in the shaft.
The utilities installed to date include two, very impressive, 350 hp ventilation fans and the accompanying ventilation ducting that runs down the entire length of the east main shaft. This provides a strong, constant flow of fresh air to the 2770 and 2850 levels.
We have also installed a 10-inch dewatering line from surface down to the 2850 level for future dewatering pumps.
Up next: The resumption of lateral development mining on both the 2770 and 2850 levels
East-North Vent Shaft
The headframe has been installed along with the jumbo nest. This is used to swing the drill jumbo in and out of the shaft during shaft sinking activities.
All hoist sheave wheels have been installed and all ropes have been wound onto the main hoist as well as the three Galloway winches and the emergency auxiliary hoist. All headframe support backlegs are installed and the electrical and safety systems have been installed
Please get in touch with any questions and be sure to subscribe to our mailing list to receive the latest news releases and updates as they are released.
David Swisher, SVP of Operations
VANCOUVER , Feb. 4, 2019 /CNW/ – Rover Metals Corp. (ROVR.V)(ROVMF) (“Rover Metals” or the “Company“) is pleased to announce that it has developed a 3D interpretative video model summarizing the gold exploration work carried out on the Bugow Iron Formation, the known host of the historic gold mineralization on the Cabin Lake Gold Project (the “Property”). The 3D interpretative video model has been uploaded to Company’s website for viewing by the public. The 3D model also includes both the recent geophysical and geochemical survey data, as well as Rover’s updated interpreted structure of the Bugow Iron Formation.
Judson Culter, CEO at Rover Metals, states: “there is tremendous blue sky potential for high grade gold discovery given the number of untested fold areas now identified within the iron formation vis-à-vis high grade gold discovered in the historical drilling campaigns in the 1980’s.” The iron formation overlay can be found at time stamp 1:11 of the 3D video model.
The Company has found and GPS-referenced all the historic blasted trenches and small pits at the Andrew North and South Zones, as well as those located at the Beaver, Camp and other locations within the Property. The UAS magnetic survey was key to providing the required high-resolution and contrast on the Bugow Iron Formation, the known host of the Property’s gold mineralization. The 2018 ground geochemical soil survey produced multi-element (Au-Ag-As-S-Cu) anomalies over known mineralization zones and additional zones coincident with conceptual mineralized targets.
As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a mineral inventory (that does not compare to the current CIM Definitions Standards mineral resource categories) of 100,000 tons at 0.30 ounces per ton gold at the Cabin Lake Gold zone on the north limb of the folded Bugow Iron Formation in their 1986 and 1987 annual reports. The parameters used for the resource calculation are unknown. These results are relevant as to delineate a larger zone of gold mineralization at the Cabin Lake Gold Zone, but further drilling is needed to bring that up to CIM Definition Standards. The reader is cautioned that a qualified person has not done sufficient work to classify the historical estimates as current mineral resources and Rover Metals is not treating the historical estimates as current mineral resources.
Technical information in this news release has been approved by Raul Sanabria , M.Sc., P.Geo., VP of Exploration at Rover Metals and the Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold) that is currently focused on the Northwest Territories of Canada , one of the most mining friendly jurisdictions in North America . The Cabin Lake Group of Gold Projects are located within 20km of Fortune Minerals’ (FT.TO) NICO Project gold processor.
Rover Metals’ management team will be manning the booth (#2951) at the upcoming PDAC conference in Toronto, ON , from March 3-6, 2019 . We welcome the public to stop by end learn more about our gold exploration plans for 2019.
You can follow Rover Metals on its social media channels Twitter: https://twitter.com/rovermetals, LinkedIn: https://www.linkedin.com/company/rover-metals/, and Facebook: https://www.facebook.com/RoverMetals/ for daily company updates and industry news.
DTC eligibility for the Company’s U.S. OTCQB Listing is still in progress and will be announced at a future date.
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
View original content:http://www.prnewswire.com/news-releases/rover-metals-corp-announces-3d-interpretative-exploration-model-for-the-cabin-lake-gold-project-300788509.html
SOURCE Rover Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/February2019/04/c5600.html
SANTA PAULA, Calif.–(BUSINESS WIRE)–
-Expected to be Accretive for Fiscal 2019-
-Expands Company’s Lemon Holdings by 1,200 Acres-
-Further Enhances the Company’s One World of Citrus™ Initiative-
Limoneira Company (the “Company” or “Limoneira”) (LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, announced today that it has entered into an agreement with FGF Trapani (“FGF”), a multi-generational, family owned citrus operation in Argentina. Beginning in 1937 with Ignacio Trapani, Ricardo Trapani (3rd generation) and his sons, Fabricio, Gabriel, and Franco (4th generation) have grown FGF into an enterprise of over 3,200 acres of lemons and oranges in the Provinces of Salta, Jujuy and Tucuman as well as owning and operating a juice processing facility in the Province of Tucuman.
As part of the agreement, Limoneira will create a subsidiary in Argentina under the name Limoneira Argentina S.A.U. (“Limoneira Argentina”) and will acquire 25% of the parcels of Finca Santa Clara, approximately 1,200 acres of planted lemons, upfront with an additional 25% to be acquired over a three-year period. Limoneira Argentina and FGF’s agreement will operate under the name Trapani Fresh, with Limoneira Argentina as the managing partner and responsible for all fresh fruit sales, holding a 51% interest and FGF holding a 49% interest. The agreement is expected to close in the middle of March 2019. FGF Trapani will maintain 100% ownership and control of the juice processing facilities and operations.
Alex Teague, Senior Vice President, stated, “It’s very exciting for us to expand our global footprint into Argentina and thereby strengthen our ability to become a 365-day, 24/7 global supplier of fresh citrus to our valued customers around the world. This joint venture fits in nicely with our One World of Citrus™ initiative and we are looking forward to welcoming FGF’s family owned business to the Limoneira team. This relationship will provide Limoneira with access to new markets and distribution networks, increase production and technical capacity and also reduce impact on operating results.”
Harold Edwards, President and Chief Executive Officer, added, “We are excited to add FGF’s rich supply of citrus to our global production and increase our competitive position. Our two companies have a long history with a combined 205 years in the business and this joint venture is bringing together years of industry knowledge and expertise. We expect the deal to be accretive in fiscal year 2019 and we will provide more information on our first quarter call in early March.”
About Limoneira Company
Limoneira Company, a 125-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (pronounced lē mon΄âra) is a dedicated sustainability company with 14,500 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, and Chile. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
Forward-Looking Statements
This press release contains forward-looking statements, including guidance for fiscal year 2018 and 2019, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Limoneira’s current expectations about future events and can be identified by terms such as “expect,” “may,” “anticipate,” “intend,” “should be,” “will be,” “is likely to,” “strive to,” and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking statements are reasonable but cannot guarantee future results, level of activity, performance or achievements. Actual results may differ materially from those expressed or implied in the forward-looking statements. Therefore, Limoneira cautions you against relying on any of these forward-looking statements. Factors which may cause future outcomes to differ materially from those foreseen in forward-looking statements include, but are not limited to: changes in laws, regulations, rules, quotas, tariffs and import laws; weather conditions that affect production, transportation, storage, import and export of fresh product; increased pressure from crop disease, insects and other pests; disruption of water supplies or changes in water allocations; pricing and supply of raw materials and products; market responses to industry volume pressures; pricing and supply of energy; changes in interest and currency exchange rates; availability of financing for land development activities; political changes and economic crises; international conflict; acts of terrorism; labor disruptions, strikes or work stoppages; loss of important intellectual property rights; inability to pay debt obligations; inability to engage in certain transactions due to restrictive covenants in debt instruments; government restrictions on land use; and market and pricing risks due to concentrated ownership of stock. Other risks and uncertainties include those that are described in Limoneira’s SEC filings which are available on the SEC’s website at http://www.sec.gov. Limoneira undertakes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190204005399/en/
Vancouver, British Columbia–(Newsfile Corp. – February 4, 2019) – Contact Gold Corp. (TSXV: C) (the “Company” or “Contact Gold”) is pleased to announce the terms of a non-brokered private placement (the “Offering”) of up to 6,896,552 common shares of the Company (“Common Shares”) at a price of $0.29 per Common Share (the “Offering Price”) for gross proceeds of up to $2,000,000. The Offering Price represents an approximate 9.4% discount to the closing price of the Common Shares on February 1, 2019 (the “Current Market Price”).
Each Common Share shall be accompanied by one right (a “Right”) which shall entitle the holder thereof to a certain number of additional Common Shares upon conversion of the Right, with such number of additional Common Shares to be determined based on completion of the first of specific milestones as detailed in this release.
Net proceeds of the Offering are expected to be used to undertake further drilling at Contact Gold’s Pony Creek project located in Elko County, Nevada, and for general working capital.
Pony Creek Project:
The Pony Creek project is located on Nevada’s prolific Carlin Trend, immediately south of Gold Standard Venture’s Railroad project and 20 km south of Newmont Mining’s Rain and Emigrant gold mines. Pony Creek totals 107 km2 of prospective mineral tenure and hosts multiple Carlin Type gold occurrences, including the Bowl and West Zones, and multiple untested exploration targets.
In 2018 Contact Gold made a new gold discovery at Pony Creek’s West Zone, with near surface oxide gold mineralization in drilling over a 2.3 kilometre strike length.
During 2019, the Company anticipates continuing exploration on the Pony Creek property. The Company plans to grow the new discovery at the West Zone, expand the footprint at North Zone and follow-up on the Pony Spur, Moleen and Elliott Dome targets.
Details of the Offering:
Each Common Share shall be accompanied by one Right which shall automatically convert and entitle the holder thereof to additional Common Shares on the date which is the earlier of: (i) the closing of a public offering by the Company pursuant to a registration statement or offering statement filed with the United States Securities Exchange Commission (a “Qualified Offering”) under the United States Securities Act of 1933, as amended (the “Securities Act”); (ii) a change of control of the Company (a “Change of Control”); or (iii) the date which is one year following the Closing Date (the “Time Deadline”).
Qualified Offering: In the event the Common Shares are offered at a price (the “Qualified Offering Price”) which is greater than the Offering Price, each Right will entitle the holder thereof, for no additional consideration, to receive that number of additional Common Shares such that the effective price per Common Share in the Offering is equal to a 5% discount to the Offering Price. Alternatively, in the event the Qualified Offering Price is equal to or lower than the Offering Price, each Right will entitle the holder thereof, for no additional consideration, to receive that number of additional Common Shares such that the effective Offering Price is equal to a 10% discount to the Qualified Offering Price, provided that, in no circumstances, would the additional number of Common Shares issued result in an implied discount greater than that which is prescribed pursuant to the rules of the TSX Venture Exchange (the “TSXV”).
Change of Control: In the event of a transaction resulting in a change of control of the Company, each Right will entitle the holder thereof, for no additional consideration, to receive that number of additional Common Shares such that the effective price per Common Share is equal to a 5% discount to the Offering Price, provided that, in no circumstances, would the additional number of Common Shares issued result in an implied discount greater than that which is prescribed under the rules of the TSXV.
Time Deadline: In the event that the Rights are exercised at the Time Deadline each Right will entitle the holder thereof, for no additional consideration, to receive that number of additional Common Shares such that the effective Offering Price is equal to the maximum allowable discount prescribed pursuant to the rules of the TSXV.
Certain eligible persons may receive finder fees in connection with the Offering in the way of cash commission.
The offered securities have not been, nor will they be, registered under the Securities Act or any state securities laws, and may not be offered or sold to, or for the account or benefit of, any person in the United States or any “U.S person”, as such term is defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements. Offers and sales in the United States will be limited to institutional accredited investor. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period and are deemed to be “restricted securities” under Rule 144 of the Securities Act, which generally requires a one-year hold period. Completion of the Offering is also subject to the receipt of all necessary approvals, including the approval of the TSXV.
Closing of the Offering is expected to occur as soon as possible.
About Pony Creek:
Pony Creek is an early stage exploration property and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). There has been insufficient exploration to define a mineral resource estimate at Pony Creek. It is uncertain if further exploration will result in targets at Pony Creek being delineated as a mineral resource. There are no assurances that the geological similarities to projects mentioned herein (or documents referenced herein) operated by Gold Standard Ventures or Newmont, or any other project along the Carlin Trend, will result in the establishment of any resource estimates at any of the Company’s property interests including Pony Creek, or that the Pony Creek can be advanced in a similar timeframe.
Additional information about Pony Creek is summarized in the NI 43-101 Technical Report entitled “NI 43-101 Technical Report on the Pony Creek Project, Elko County, Nevada, USA” prepared for Contact Gold, with an effective date of October 16, 2018, and dated October 22, 2018, as prepared by Vance Spalding, C.P.G; VP Exploration of Contact Gold, and can be viewed under Contact Gold’s issuer profile on SEDAR at www.sedar.com.
About Contact Gold Corp.
Contact Gold is an exploration company focused on producing district scale gold discoveries in Nevada. Contact Gold’s extensive land holdings are on the prolific Carlin, Independence and Northern Nevada Rift gold trends which host numerous gold deposits and mines. Contact Gold’s land position comprises approximately 212 km2 of target rich mineral tenure hosting numerous known gold occurrences, ranging from early- to advanced-exploration and resource definition stage.
Additional information about the Company is available at www.contactgold.com.
For more information, please contact: +1 (604) 449-3361
Matthew Lennox-King – President & CEO
E-mail: info@ContactGold.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the anticipated closing of the Offering, the anticipated participation of Waterton therein, the use of proceeds therefrom, the ability to complete a Qualified Offering and there timing thereof, the probability and timing thereof of a change of control, receipt of applicable regulatory approvals, and proposed exploration activities of the Company on the Pony Creek property and the results thereof.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include; receipt of applicable regulatory approvals; availability of financing; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42623
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I have never met anyone who succeeds in speculating in commodities. Most commodity speculatorscome to believe in the bright future of a certain commodity using oft-repeated slogans and soundbites entering a sort of trance and calling themselves contrarians while staying in the emotional “safety” of their echo chamber. And then the situation gets worse, much worse. They then “invest” in mining companies for leverage. This is a very dangerous cocktail, something that is responsible for so many people losing their homes and making the mining industry a loss-making sector of the economy.
I spoke on the above at the recently held Vancouver Resource Investment Conference (VRIC). Here is a discussion, I had with Fergus Hodgson on the same theme:
On investments…
Maritime Resources (MAE; C$0.09) has done a pre-feasibility study (PFS) on a small, high-grade deposit they have in Newfoundland. Last year, Anaconda Mining made a failed attempt to takeover MAE. In the same area as that of MAE is another company, Rambler Metals. According to their PFS, MAE is expected to use the process plant of Rambler Metals.
A few months back, Sprott Capital Partners and Dundee Resources financed MAE at C$0.11 per unit. Since then the index of early-stage mining companies has gone up nicely, but MAE has stagnated.
MAE has a market capitalization of C$12 million. It has C$2.5 million in cash. Based on my calculations there is an easy 50% upside in owning MAE. There is also enough evidence that the project can be looked at differently than it has been in the PFS, to improve the economics. Moreover, the company changed its management last week, an event that went unnoticed by the market. The new management will likely find it easier to give another look at a merger with Anaconda. Perhaps they should also invite Rambler to the negotiation table.
The combined market capitalization of the above three companies is less than C$100 million. There should be a lot of synergies—operational, scheduling, tax-related, and in terms of financing required for the projects—in combining the three companies. Just the savings in administrative expenses will be huge. If such a merger happens, there is extra money to be made in owning MAE.
On other matters…
In my view, the US is lucky to have Trump as its President. The US is one of the best countries in the world, but there are forces at play—given democracy and the resulting rapid rise of culturally Marxist values in the institutions—that means that Trump can succeed in only delaying the degradation of the US. As Doug Casey says “America” is an idea whose home has so far been the US.
Next month, I will be speaking at PDAC, on how East Asia is the future of humanity. This is not just about economic growth, which I see continuing to happen, but more importantly about how the idea of America and the western civilization is setting its roots in East Asia.
Warm regards,
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