If you like the value proposition of Silver. Check out Metallic Minerals latest press release enclosed below. Proven and Probable will be conducting an interview with Metallic Minerals later this week.
Proven ProbableCategory: Junior Mining
Proven and Probable
Where we deliver Mining Insights & Bullion Sales, in form of physical delivery, offshore depositories, and private blockchain distributed ledger technology you may reach us at contact@provenandprobable.com.
Maurice Jackson of Proven and Probable sits down with Michael Rowley the President and CEO of Group Ten Metals (TSX.V: PGE | NYSE: PGEZF) to discuss the latest Platinum, Palladium, Nickel, Copper and Cobalt Intercepts from the Camp Zone Target Area, Stillwater West Project, Montana, USA.
Irving Resources just issued a new press release click the button below to view the exciting details.
Maurice Jackson of Proven and Probable sits down with David Cole the President and CEO of EMX Royalty (TSX.V: EMX | NYSE: EMX) to discuss the virtues of the companies highly successful business model that incorporates Royalty Generation, Royalty Acquisition, and Strategic Investments. Mr. Cole will address how the company is strategically positioning itself on the continued global demand for Copper. And equally important, what actions the company will take from the proceeds of the $67 Million U.S. just received on the sale from the Malmyzh Project in Russia. Equally important, Mr. Cole will highlight the enormous value proposition at Cukaru Peki located in Serbia. EMX Royalty continues to demonstrate business and geological acumen, which has produced spectacular results on their balance sheet and their project portfolio.
Proven and Probable:
Where we deliver Mining Insights & Bullion Sales, in form of physical delivery, offshore depositories, and private blockchain distributed ledger technology you may reach us at contact@provenandprobable.com.
April 18, 2019
Vancouver, British Columbia, April 18, 2019 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to announce that it has received a US $2 million escrow distribution, which in addition to the initial US $65.15 million payment in 2018, brings the total cash paid to EMX to US $67.15 million from the sale of the Malmyzh project. A second distribution of up to US $2 million, subject to certain conditions, is due to EMX later in 2019 as remaining funds are released from escrow. Malmyzh was sold by IG Copper LLC (“IGC”) to Russian Copper Company for US $200 million in October 2018.1.
IGC’s Malmyzh project was an important EMX strategic investment that exemplifies the portfolio effect of the Company’s diversified business model. Proceeds from the sale of Malmyzh, combined with ongoing royalty and pre-production payments, have yielded a robust balance sheet. EMX is utilizing this strong position to take advantage of new royalty generation, royalty acquisition, and investment opportunities to grow the portfolio and build shareholder value.
About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to the risks inherent to operating companies. The Company’s common shares are listed on the TSX Venture Exchange and the NYSE American Exchange under the symbol EMX. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2018, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
It’s been an exciting April so far: we’ve announced plans for an exploration program, we’re expecting our PFS for the Open Pit any day now and, of course, we continue to make excellent progress on the underground mine. Construction is progressing in a strong, steady fashion and we remain on track to enter production in Q4 of this year. Below is an update of recent activity on site.
East Main Shaft
We are making very good progress with lateral development on the 2850 and 2770 levels and have advanced over 650 feet on both levels since the last update. Importantly, we now have fully-mechanized mining on the 2850 level and are now just a few hundred feet from reaching the bottom of EN vent shaft
1000KV transformers have now been installed on both levels and we have completed construction of all sumps on the shaft bottom, 2770 level and 2850 levels. We also have a modified sump in place on the 2940 level.
In addition, we have developed several utility bays on the 2850 level, including the temporary shop.
Up next: complete excavation to the bottom of the EN vent shaft, begin ramping to the east ore bodies and begin mechanized mining on the 2770 level.
Lateral development on the 2850 level of the East Main shaft
East-North Vent Shaft
Progress on the EN Vent Shaft has been particularly strong and we are now over 500 ft below surface.
Up next: continue sinking shaft and begin preparation to drive the Alimak from the 2850 level. The Alimak will be used to drive vertically up to intersect the East North Ventilation shaft and prepare the ore loading pocket.
Surface Works
The SAG mill pedestal is now complete and the Ball mill pedestal is almost finished. We have also finished pouring the Flotation foundation.
The foundations for the Thickener and fresh water areas have been completed and several pieces of critical components and equipment have arrived on site.
Dry stack tailings cell one is complete and is now in the process of being lined. The ore stockpile and surface water run off pond have been lined and completed.
Up next: Commence installation of equipment and start formwork for the ore stockpile loading hopper and for the filter press building
SAG Mill Discharge Pedestal Form Install – Cast In Steel Plate Install
Flotation Slab Final Inspections on Top Mat Rebar
SC2 Pond near Coarse Ore Stockpile Pad, prep for Liner Install
Thickener Tank mud slab forms
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
For further information call:
Rich Matthews
VP Marketing and Investor Relations
Nevada Copper Corp
rmatthews@nevadacopper.com
1 (877) 648-8266 – Work | (604) 355-7179 – Mobile
www.nevadacopper.com
April 10, 2019
Vancouver, B.C., Granite Creek Copper Ltd. (TSX.V: GCX) (“Granite Creek” or the “Company”) announces that the Company’s common shares have commenced trading on the Frankfurt Stock Exchange under the symbol “A2PFE0”. The Company’s common shares continue to be listed on the TSX Venture Exchange under the symbol “GCX”.
President & CEO, Tim Johnson, stated, “With the Frankfurt exchange being amongst the world’s largest by market capitalization, this listing will significantly expand our shareholder base and access to international capital. The Company continues to pursue a number of initiatives with respect to the Stu Project and we are looking forward to providing additional updates over the coming weeks as we approach the start of the 2019 field exploration season.”
About Granite Creek Copper
Granite Creek is a Canadian exploration company focused on the 100%-owned Stu Copper-Gold project located in the Yukon’s Carmacks Copper District which covers 111 square kilometres adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag Mine and Copper North’s advance stage Carmacks Cu-Au-Ag project. More information about the company and the Stu Copper project can be viewed on the Company’s website at www.gcxcopper.com.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies focused on high-potential, brownfields exploration assets adjacent to high-grade operating mines in proven in North American districts with excellent infrastructure. Focusing exploration in these proven brownfields districts increases the probability of new discoveries and allows for rapid advancement of resources to create value.
Member companies have highly experienced management and technical teams with track records of successful discovery and project development, including capital markets and financing expertise. Metallic Group professional backgrounds include former leadership positions with Barrick Gold, Goldfields, Stillwater Mining and leading explorer/developers NovaGold, Trilogy Metals and Wellgreen Platinum. Company leaders have been credited with the discovery, or expansion and advancement, of several major deposits in North America, and have significant ownership positions in the companies.
The Group and its members are headquartered in Vancouver, BC, Canada, with company stocks currently listed on the TSX Venture, US OTC, and Frankfurt stock exchanges.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
April 9, 2019 – Vancouver, British Columbia, Canada – Great Bear Resources (the “Company” or “Great Bear”) is pleased to announce that the Company’s exploration team have been awarded the 2018 “Bernie Schnieders Discovery of the Year Award” for the discovery of high-grade gold zones at its 100% owned Dixie Property in Red Lake, Ontario, Canada.
The award, presented by the Northwestern Ontario Prospectors Association (NWOPA), recognizes an exceptional discovery in Northwestern Ontario during the previous calendar year. It was presented on April 2 to Great Bear Resources at the annual awards banquet hosted during the 2019 Ontario Prospectors Exploration Showcase in Thunder Bay, Ontario (http://www.nwopa.net/2019-exploration-showcase.html).
Chris Taylor, President and CEO of Great Bear said, “We would like to sincerely thank the NWOPA for receiving this honour, and look forward to expanding on our exciting discoveries at the Dixie property through 2019 and 2020. We have been fortunate to receive strong industry support for our exploration work over recent years, including an exploration grant during 2017/2018 in the amount of $100,000, as part of the Ontario Prospector Association’s Junior Exploration Assistance Program (“JEAP”), which partially funded our discovery drill program.”
About Great Bear
The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s Madsen property. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
“Chris Taylor”
Chris Taylor, President and CEO
Gowest Announces $8 Million Investment By Fortune Future Holdings Limited
April 9, 2019, 7:45 am
TORONTO, ONTARIO – (April 9, 2019) Gowest Gold Ltd. (“Gowest” or the “Corporation”) (TSX VENTURE: GWA) announced today that Fortune Future Holdings Limited (“Fortune”) has agreed to purchase, on a non-brokered private placement basis, common shares of the Corporation for aggregate gross proceeds of $8,000,000 (the “Private Placement”).
The Private Placement is subject to the completion of a consolidation of the outstanding common shares of the Corporation (the “Consolidation”), on a one (1) for ten (10) basis, prior to the closing of the Private Placement. Pursuant to the proposed Consolidation, holders of common shares of the Corporation will receive one (1) post-Consolidation common share in exchange for every ten (10) pre-Consolidation common shares outstanding immediately prior to the Consolidation. The Consolidation will affect all holders of common shares uniformly and will not affect any shareholder’s percentage ownership interest in the Corporation.
The common shares to be issued to Fortune pursuant the Private Placement will be issued at a price of $0.45 per share on a post-Consolidation basis (being equal to $0.045 per share on a pre-Consolidation basis).
Details of the Private Placement
In connection with the Private Placement, the Corporation has received, and accepted, an irrevocable subscription from Fortune for the full amount of the Private Placement.
Pursuant to the Private Placement, the Corporation will issue to Fortune an aggregate of 17,777,777 common shares at a price of $0.45 per share on a post-Consolidation basis (being equal to 177,777,777 common shares at a price of $0.045 per share on a pre-Consolidation basis). On April 8, 2019, the closing price of the common shares of the Corporation on the TSX Venture Exchange (“TSX-V”) was $0.0375. During the prior month, the common shares of the Corporation traded on the TSX-V between $0.03 (low) and $0.04 (high).
Fortune is an investment company based in Chifeng City, Inner Mongolia, China, focused on investment in companies engaged in the exploration for, and the mining and sale of, mineral resources. In addition to its primary office in Chifeng City, Fortune has branches in Hong Kong and Beijing and is involved with various mining projects throughout China, Mongolia, Nigeria and Algeria. Fortune is incorporated under the laws of the British Virgin Islands.
Fortune made its initial investment in the Corporation in June 2014 and currently holds ownership of greater than 10% of the outstanding common shares of the Corporation. As of the date hereof, Fortune holds 85,000,000 common shares of the Corporation representing approximately 19.8% of the outstanding common shares of the Corporation. Fortune was previously a “control person” of the Corporation. Assuming the completion of the Private Placement, and no further issuances of common shares by the Corporation prior to the closing date, Fortune would hold 26,277,777 common shares on a post-Consolidation basis (being equal to 262,777,777 common shares on a pre-Consolidation basis), representing approximately 43.3% of the outstanding common shares of the Corporation.
Pursuant to the terms of the Private Placement, closing is to occur following the receipt of requisite shareholder approvals for the Private Placement and the implementation of the Consolidation (as described in greater detail below). There are no material conditions to the closing of the Private Placement, other than: (i) the receipt of required shareholder approvals (for the Private Placement and Consolidation); (ii) the receipt of required regulatory approvals, including the approval of the TSX-V; (iii) the requirement that there be no material adverse change with respect to the Corporation prior to the closing of the Private Placement; and (iv) the requirement that the representations and warranties of the parties given in the subscription agreement in respect of the Private Placement be true and correct, in all material respects, as of the closing date of the Private Placement.
Assuming the completion of the Private Placement, Fortune will have the right to appoint, and to have nominated by the Corporation for election at each annual meeting of shareholders, that number of directors or the Corporation as will represent a majority of the board of directors (the “Board”), so long as Fortune holds greater than 30% of the outstanding common shares of the Corporation. Pursuant to the terms of its initial investment in the Corporation, Fortune held a contractual right to appoint two directors to the Board.
The approval of the Private Placement follows an exhaustive search and evaluation of potential sources of capital undertaken by management and the Board over the past number of months. The terms and conditions presented to the Corporation by Fortune pursuant to the Private Placement have been determined by the Board to be reasonable in the circumstances of the Corporation; in particular having regard to the current challenging financial and operational circumstances affecting the Corporation and the difficult market conditions affecting junior mining issuers generally. No alternative commercially reasonable financing options of the magnitude of the Private Placement were identified the Corporation. In the opinion of management and the Board, the Private Placement represents the best financing option available to the Corporation at this time.
After consideration of all relevant circumstances, the Board (with the representatives of Fortune abstaining) has approved the Private Placement and has determined that the Private Placement is in the best interests of the Corporation.
Among other factors considered by the Board in approving the Private Placement: (i) the issue price of the common shares represents a premium to the recent trading price of the common shares on the TSX-V; (ii) the Private Placement presents lower-execution risk given Fortune’s familiarity with the Corporation and its operations and no further due diligence is required to be conducted by Fortune; (iii) the investment by Fortune may assist the Corporation in its efforts to raise additional funds, including by way of additional “flow-through” investment in the Corporation; (iv) shareholders will continue to participate in any future appreciation in the value of the common shares of the Corporation; and (v) the significant investment by Fortune confirms its long-term commitment to the Corporation and to bringing its 100% Bradshaw Gold Deposit (“Bradshaw”) into commercial production
The proceeds of the Private Placement will be used by the Corporation for the continued development of Bradshaw. The proceeds of the Private Placement alone will not be sufficient to bring Bradshaw into commercial production. The Corporation is continuing to pursue additional financing opportunities to cover this anticipated funding shortfall and also to advance, in parallel, exploration opportunities both at and near Bradshaw.
All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after date of issuance.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
Completion of the Private Placement remains subject to receipt of the approval of the TSX-V.
Minority Approval of Private Placement
By virtue of the fact that Fortune holds ownership of greater than 10% of the outstanding common shares of the Corporation and therefore is a “related party” of the Corporation pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the Private Placement will constitute a “related party transaction” of the Corporation under MI 61-101. As such, the Private Placement is subject to the minority approval requirements of MI 61-101 and will require the approval of shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), prior to the closing of the Private Placement. As the Corporation is listed only on the TSX-V, the Private Placement is exempt from the valuation requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(b) of MI 61-101.
Further, given that Fortune will hold greater than 20% of the outstanding common shares of the Corporation following the completion of the Private Placement, the Private Placement is subject to the approval of shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), pursuant to the Corporation’s shareholder rights plan (the “Rights Plan”). The terms of the Rights Plan are set out in the Amended and Restated Shareholder Rights Plan Agreement, dated as of May 5, 2017, between the Corporation and TSX Trust Company, as rights agent. Specifically, the Private Placement is subject to the shareholders of the Corporation, excluding Fortune (and any related parties of Fortune), approving the Private Placement as a “Shareholder Approved Financing” in accordance with the Rights Plan.
The Corporation intends to call a special meeting of shareholders of the Corporation (the “Meeting”) as soon as possible for the purpose of obtaining the requisite shareholder approvals for the completion of the Private Placement. The Board recommends that shareholders vote in favour of the Private Placement.
Further information regarding the Private Placement will be contained in the management information circular to be prepared in respect of the Meeting. The management information circular will be filed under the Corporation’s profile on SEDAR (www.sedar.com) at the time that it is mailed to shareholders. All shareholders are urged to read the management information circular once it becomes available, as it will contain additional important information concerning the Private Placement.
The parties expect that the Private Placement will be completed shortly after the Meeting, subject to satisfaction of all conditions precedent to the closing of the Private Placement.
Consolidation
As indicated above, the completion of the Consolidation is a condition precedent to the closing the Private Placement. The completion of the Private Placement, among other purposes, will allow the Corporation to comply with the policies of the TSX-V, which generally prohibit the issuance of shares at a price of less than $0.05 per share.
If approved and implemented, the Consolidation will occur simultaneously for all of the Corporation’s issued and outstanding common shares and will occur prior to the completion of the Private Placement. The Consolidation will affect all holders of Common Shares uniformly and will not affect any shareholder’s percentage ownership interest in the Corporation. As the Corporation currently has an unlimited number of common shares authorized for issuance, the Consolidation will not have any effect on the number of common shares that remain available for future issuance. If the Consolidation is implemented, the exercise price and number of common shares issuable under outstanding incentive stock options and common share purchase warrants issued by the Corporation will be proportionately adjusted.
The Corporation intends to seek approval of shareholders for the Consolidation at the Meeting. The Consolidation will require the approval of not less than two-thirds (2/3) of the votes cast by the holders of common shares present in person or represented by proxy at the Meeting. The Board recommends that shareholders vote in favour of the Consolidation.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include, without limitation, statements relating to: the Private Placement; the proposed use of proceeds of the Private Placement; the ability of the parties, in particular the Corporation, to satisfy the conditions precedent to the closing of the Private Placement; the mailing of the management information circular in connection with the Meeting and anticipated timing thereof; and the anticipated timing of the completion of the Private Placement. Words such as “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “potential” and similar expressions may be used to identify these forward-looking statements although not all forward-looking statements contain such words.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including risks associated with the Private Placement and financing transactions generally, such as the failure to satisfy the closing conditions contained in the subscription agreement, the absence of material adverse changes or other events which may give Fortune the basis on which to terminate the subscription agreement, and the ability of the the Corporation to complete and mail the information circular in respect of the Meeting and hold the Meeting within the time frames indicated. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and reader should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by law, the Corporation does not intend to or assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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.
For further information please contact:
Greg Romain – President & CEO – Tel: (416) 363-1210 – Email: info@gowestgold.com
Greg Taylor – Investor Relations – Tel: 416 605-5120 – Email: gregt@gowestgold.com
Gowest Gold Closes Private Placement – Provides Corporate Update
March 25, 2019, 4:37 pm
TORONTO, ONTARIO – (March 25, 2019) Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that it has issued, on a non-brokered private placement basis, 40,000,000 common shares of the Company, at a price of $0.05 per common share, for aggregate gross proceeds of $2,000,000 (the “Private Placement”) pursuant to the closing of its previously announced private placement (the “Private Placement”).
All of the securities issuable in connection with the Private Placement are subject to a hold period expiring four months and one day after date of issuance. The proceeds of the Private Placement will be used by the Company for the continued development of its 100% owned Bradshaw Gold Deposit (“Bradshaw”) located in the Timmins Gold Camp.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
The Company would also like to advise that it is working towards a significant investment that would allow the Company to complete the Bulk Sample Program and see Bradshaw continue to advance towards commercial production. The Company will provide a further update and details concerning this potential investment in the coming days.
The funds raised from the current Private Placement will be used to help ensure the Bradshaw site will be ready for restart, to continue ongoing work at QMX Gold Corporation’s Aurbel Mill in Val d’Or, Quebec, where material from Bradshaw is to be processed (see Gowest news release dated October 30, 2018), all while the Company is working to raise additional funds.
As previously announced, (see news release dated April 16, 2018), due to financial challenges, uncertainty of the timing surrounding the processing of the Bulk Sample and the fact that there is no further capacity at the mine site to store any further underground mined material, the Company suspended mining operations at the site. During this period, the Company has worked to tightly manage its limited cash resources, while positioning the Company to be able to re-start the development of the mine when conditions warrant.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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.
For those who follow College Basketball, the next few weeks are some of the most enjoyable and exciting months on the sports calendar. For those new to sports or living under a rock, March Madness brings together 64 College teams in a single elimination tournament . The brackets get tighter with each round 64 / 32/ 16/ 8/ 4/ and finally, a duke out between the two last remaining teams. As the brackets dwindle down the contests have sub names ” The Sweet 16 “ / ” the Elite Eight ” / ” the Final Four ” and the ” Championship Game “.
The games are usually very exciting, often coming down to the last possession and consequently, there are usually quite a few upsets on the Road to the Final Four. In this spirit, I have decided to make my own March Madness Tournament involving my favorite Junior Mining Stocks.
I compiled a list of my favorite Junior Resource Stocks in an article entitled The 12 Days of Christmas.
This list was comprised of 12 stocks that I have been following closely and I own shares in. The list has been pared down to The Elite Eight for the brackets to work out. I am using the share price of the companies on 12-24-18 when the article was published as a benchmark. I am attempting to put companies with similar share prices paired against one another. After each round the companies that have the highest % gain will move on to the next round. Simple enough now without any further ado… Let’s meet the Elite Eight.
Bracket 1) MUX vs. IRV
McEwen Mining – this undervalued producer striving to get a listing on the S&P is really at the mercy of the price of Gold. Its CEO draws a dollar a year salary so he is truly at the mercy of the stock’s performance. If shareholders win, he wins. What a novel concept !!! It was recommended on 12-24-2018 @ $1.79/ MUX
Irving Resources– this tightly held sleeper is headed up by Quinton Hennigh ,which almost guarantees big things. Permitting is now in place and this one-time huge producing mine in Japan is drill ready and ready to rock. “Q“ knows how to position the Truth Meter to confess up the Truth and nothing but the Truth. Price when recommended $1.80/IRV
Bracket 1) WINNER- IRV $1.80 ( Irving Resources) up 33 cents to $2.13 = 18% Gain
MUX $1.79( McEwen Mining) down 15 cents to $1.64 = Minus 9%
McEwen has hit a rough patch lately, mining delays and setbacks along with tepid Gold price has not helped. I still believe and hold shares in this company and feel in due time it will perform admirably. You can’t keep its leader Rob McEwen down for long.
Irving Resources is on a roll, drilling has commenced and Quentin knows how to position the truth meter. IRV moves to Final Four with plenty of momentum. Having a dominate big man in the lane “Q” makes this company a formidable foe.
Bracket 2) JCO vs. FVAN
Jericho Oil – with steadily rising OIL prices… up over 30% in two months and located in the very friendly Oil state of Oklahoma, in the prolific STACK region. It boasts as its neighbors some mighty titans of the Oil industry. It is only a matter of time before this gets legs and gains well deserved attention. JCO/ 43 cents
First Vanadium – with a recently released updated Resource Estimate with staggering numbers, this tightly held stock needs to be revisited. The company just added 1.5 Billion pounds of Vanadium which is currently going for close to $18 a pound. You do the math. Your head will spin !!! FVAN /77 cents
Bracket 2) WINNER- JCO 43 Cents (Jericho Oil ) down 1 cent to 42 Cents = Minus 2%
FVAN 77 Cents (First Vanadium) down 23 Cents to 54 Cents = Minus 31%
First Vanadium was up to $1.07 in early March after a very successful PDAC showing but has dropped big time due to softening Vanadium prices. This stock is not for the faint of heart but I believe ultimately it will be a great company to own.
Jericho Oil limps into the Final Four still waiting to catch a bid with Oil prices still creeping up. Led by point guard, IR Director, Adam Rabiner it is just a matter of time, Spring will start fresh news flow and Adam works his solid connections and network.
Bracket 3) SIR vs. ANX
Serengeti Resources – a recently released Pre-Feasibility Study revealed an impressive overall increase in contained metal from the 2016 Indicated Resource estimate. Highlights included increases of 44% for copper, 32% for gold, and 52% for silver in the M+I categories. This stock was hammered mysteriously on these fantastic results. Somebody wants this stock on the cheap and for good reason. Ricks’ Café continues to live on in the Junior sector!!! SIR/17 cents
Anaconda Resources– this stock was once the darling of PDAC in 2018. My how much a year has changed. ANX keeps putting out great news… to crickets. Perhaps new blood at the top would pump new life into this sleeper and get it back on track. There is much buzz about M&A and COB, Jonathan Fitzgerald is a cagey deal maker who makes great things happen. ANX/ 22 cents
Bracket 3) WINNER – ANX -22 Cents (Anaconda Mining) up 10 cents to 32 Cents = 45% Gain
SIR-17 Cents (Serengeti Resources) up 7 cents to 24 Cents = 41% gain
Serengeti continues to perplex it has had great drill results and very favorable PFS but just can’t gain traction. The Metallurgic Study from Kwanika is due any day perhaps that will get this undervalued junior some love. This stock remains a mystery.
Anaconda Mining has been preforming on steroids as of late. Volume has increased considerably and me thinks something very good is coming. ANX vaults into the Final Four with plenty of wind at its back and fresh legs. They have a strong bench led by COB, Jonathan Fitzgerald.
Bracket 4) AZS vs. PRG
Arizona Silver Exploration – continues to amaze. It is slowly coming back to life and I believe still has plenty of upside. Sharp management who put their money where their mouth is. Share structure is super tight as they know how and when to finance without warrants. They have added 2 new highly prospective properties which are drill ready awaiting final permitting. This company is a blueprint for success and how to run a Junior Miner. AZS/ 8 cents
Precipitate Gold – this is run by a very sharp, intelligent, savvy CEO, Jeff Wilson. They have smartly acquired a property in the Dominican Republic which butts up next to Barrick’s Pueblo Viejo Mine. This acquisition and resulting drill results could make Jeff Wilson a legend. It seems the new government in the DR is much easier to work with than the previous scoundrels. Having savant Quinton Hennigh on the board certainly adds to the allure. PRG/ 12 cents
Bracket 4) WINNER AZS- 8 Cents (Arizona Silver Exploration ) Up 6 cents to 13 cents) = % Gain
PRG- 12 Cents (Precipitate Gold) Even at 12 cents = 0 % Gain
Precipitate Gold has not started a drill program yet so that has diverted attention from this highly prospective undervalued Junior. Keep your eyes on this one, you will be surprised pleasantly to the upside, management is top notch along with the location of the property.
AZS moves to the Final Four although the stock has shown weakness as of late. It’s waiting to commence drilling on two new prime targets. Power Forward, Mike Stark crashes the boards and keeps the opposition at bay with his aggressive style.
A reminder we will check highest % gainers with my 12 Days of Christmas article and the price of each stock from the 12-24-18 benchmark to determine their performance in the tournament. I am a fan of all of these companies and hold positions in all and some in great quantity in my own portfolio. So there are no losers among these companies… only winners…but somebody will prove to be a worthy champion in a months’ time!!!
Bracket 5) IRV (Irving Resources) vs. JCO (Jericho Oil)
IRV – Closed this week at $1.79 ($1.80) so there was no negligible gain for the stock since 12-24-2018. The same holds true for JCO which had a small loss also during the tournament it closed today 41 cents vs 43 cents. Therefore, both companies will not advance to the Championship Game however I expect big things from both these stellar companies soon.
As stated from the beginning there are no losers in this tournament. Irving is drilling their first holes in their Japan high-grade Gold project. The company is cashed up and Quinton Hennigh runs the drill program. The share structure is tight and my moneys on “Q” to come thru.
Jericho (JCO) is my best Jr. Oil & Gas play by far. They own primo wells in the prolific STACK region in Central Oklahoma. The Oil price has been creeping up steadily and at $60 a barrel oil that is the sweet spot for JCO (Currently $63+). Management is rock solid and progressive.
Bracket 6) ANX (Anaconda Mining) vs. AZS (Arizona Silver Exploration)
Both companies have performed admirably hence they both deserve to be in the Championship Game. Anaconda (ANX) was 22 cents on 12-24-2018 and closed today at 33 cents a 50 % Gain. (ASZ ) Arizona) Silver Exploration was 8 cents and closed today at 15 cents an 88 % Gain.
Both companies have been on a roll since 2019 and have momentum in their corner. Since announcing the Big Man in the center Kevin Bullock as New CEO and another recent announcement of fantastic drill results, ANX will be a formidable opponent in the Finals. Head Coach, COB Jonathan Fitzgerald seems to always have an ACE up his sleeve at all times.
AZS is drill ready at their newest acquisition the Philadelphia Project and should commence any day now. With the two power forwards working well in tandem Mike Stark and Greg Hahn this should be an epic battle to who prevails in this tournament. Good Luck to both worthy teams.
IN FINAL ROUND WINNER WILL BE DETERMINED BY % GAIN FROM TODAY’S CLOSE
WINNER WILL BE CROWNED NEXT FRIDAY APRIL 12 AT MARKET CLOSE
VS
This article is for informational purposes only. It is certainly not investment advice. It is also not encouraging any gambling or betting in any way. Please consult Gamblers Anonymous if you feel the need to gamble on my tournament 🙂 Kevin Dougan (aka The Mick) runs a website Blue Sky Marketing which finds and promotes undervalued and out of favor companies with much upside and explosive potential growth. Many of these companies are clients and sponsors and I own shares in all of the companies mentioned in this article. Please sign up for my free newsletter on my website for new picks and updates!!!
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