Category: Precious Metals

Bob Moriarty
Archives
Jul 29, 2024

I think we are in a perfectly normal correction after a shot higher to a new record high for gold a week ago. Gold has come down about four percent while silver dropped about ten percent. Markets go up. Markets go down. We are still in the most favorable time of the year for resource stocks into September.

That makes this an appropriate time to be looking around for the next good cheap stock. Someone contacted me about a company a few weeks ago and I think I have found what looks like a potential winner.

The company named Barton Gold (BGD-ASX and BGDFF-OTCQB) calls South Australia home. I’ve visited Australia a number of times and often the Aussies grouse about how little their fellow countrymen are willing to spring for gold in the ground.

Barton Gold is a perfect example. The company shows an existing 1.6-million-ounce gold JORC resource with a market cap of $52 million in Australian pesos. Given the approximately $10 million in cash it means local punters are only willing to pay about $21 an ounce for gold in the ground from a company with permits and an existing mill. If you multiply the $21 Aussie by a conversion of .66 for USD you come up with $14 an ounce in USD. That’s absurdly cheap and if Barton Gold was in Nevada or Quebec at this stage they would probably be getting more like $50-$60 an ounce at a minimum.

Barton’s solution proved to be simple. Get an OTCQB listing and sell those cheap ounces to American and Canadian investors. But even there is a problem that I am going to be 100% up front about.

WHEN BUYING OR SELLING OTC LISTED STOCKS, DO NOT EVER, EVER, EVER PUT IN A MARKET ORDER.

SHOULD YOU DO THAT, THE BROKER WILL BEND YOU OVER A BARREL AND DO TERRIBLE THINGS TO YOU THAT YOU WILL NOT ENJOY. IT WILL BE THE MOST EXPENSIVE SEX YOU HAVE EVER SUFFERED.

(Click on images to enlarge)

That’s a six-month chart taken from HotCopper showing the price in Australian dollars. It shows shares trading at about $.25 six months ago rising to $.35 and dropping gradually and steadily to $.24 today.

That’s what happens when investors put in market orders. Those buying through the OTCQB were paying up to $.50 in USD for shares that were only worth a tiny fraction of that. The brokers screwed them.

But the chart of BGD does indicate what I have said, at current prices Barton Gold seems pretty cheap. Let’s go into the particulars.

Barton Gold indicates over 5,000 square km of tenements in the center of South Australia with various properties containing 1.6 million ounces of gold in a JORC report.

A recent scoping study released only two weeks ago shows a 6.4 year mine life for the existing 1.5 million ounce resource at the Tunkillia project producing 130,000 ounces of gold yearly and 311,000 ounces of silver. The Tunkillia mine would require $374 million initial capex with a NPV at 7.5% of $512 million and a 40% IRR with a 1.9-year payback of initial capital. The average LOM AISC would be $1,917 and compares favorably with the current price for gold of $3615.

At the nearby Tarcoola Gold mine and mill, Barton recently completed a 9,000-meter RC drill program with a nine-hole 900 meters drill program just finished in the Perseverance open pit. Tarcoola has the advantage of being within trucking distance of the Challenger 650 TPD CIL plant. Results from the almost 10,000-meter program will be released soon.

Managing Director and CEO Alex Scanlon takes a very aggressive approach to building the next mid-tier gold company in Australia. He is young, frankly that is a good thing, we need new young thinking in the industry. He has a plan and is busy executing it.

In June of 2021 he came up with a plan for asset monetization that has generated A$ 10 million sufficient non-dilutive cash to pay 100% of the corporate overhead. One brilliant move was in December of 2022 to do a thorough mill cleanup that generated 1,400 ounces of gold. That was sold in June of 2024 near the all-time high for gold to generate a payment of $4.25 million AUD.

Alex is an excellent communicator and a glance at the timing of recent ASX announcements show a constant flow of valuable information. I highly recommend all potential investors go over their excellent presentation and work out the numbers. For a company with 1.6 million ounces of gold with a 650 TPD and is permitted, this is some of the cheapest gold you will ever find.

Barton Gold is an advertiser so that makes me biased. Do your own due diligence.

Barton Gold Holdings Limited
BGD-ASX $.24 Aussie (Jul 26, 2024)
BGDFF-OTCQB $.17 USD
219 million shares 
Barton Gold website

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Bob Moriarty
President: 321gold
Archives

321gold Ltd

In discussing the Mises Institute’s June 24th full-page Wall Street Journal ad entitled “Who Needs the Fed?” on talk radio recently most of the interviewers naturally expressed skepticism over whether the Fed could ever actually be abolished and a gold-and-silver standard reinstituted. It reminded me of something Murray Rothbard said about this. If the government had monopolized say, shoe production a hundred years ago and someone suggested the privatization of shoe production, there would be cries of: “Who will make shoes? The government has always made shoes!”

Well, America has not always had a central bank and in fact, the three precursors of the Fed — the Bank of North America, the First Bank of the United States, and the Second Bank of the United States — were all abolished in the eighteenth and nineteenth centuries. It happened then, and it can happen again.

In The Mystery of Banking Murray Rothbard explained how the Bank of North America (1782-1783) was “driven through Congress” by Rep. Robert Morris, a Philadelphia financier and a leader of the Federalist party. The agenda of the Federalists, said Rothbard, was “to reimpose in the new United States a system of mercantilism and big government similar to that in Great Britain, against which the colonists had rebelled.” That would have included a powerful central government with a king or “permanent president,” as Alexander Hamilton said, that would “be built up by high taxes and heavy public debt . . . high tariffs . . . a big navy to open up and subsidize foreign markets for American exports, and launch a massive system of internal public works” (aka pork barrel spending). The United States was to have “a British System without Great Britain.”

A key component of what Rothbard called “the Morris scheme” was “to organize a central bank [modeled after the Bank of England] to provide cheap credit and expanded money for himself an his allies.” The Bank was given a monopoly privilege of its notes being receivable in all tax payments to state governments and the federal government, and no other banks were permitted to exist in the country! Despite these monopolistic privileges a lack of public confidence in the bank’s notes led to their severe depreciation, so much so that the bank was privatized after about a year and a half.

Former Fed Chairman Ben Bernanke once proudly announced that Alexander Hamilton was the founding father of central banking in America and indeed he was. He was what Rothbard called “Morris’s youthful disciple” and, as Treasury Secretary, he helped Morris and his business associates re-established a central bank by championing the First Bank of the United States (1791-1811), created after a historic a debate with Thomas Jefferson over the constitutionality of a national bank run by politicians.

Jefferson correctly argued that such an institution was not among the delegated powers of the federal government and that the constitutional convention debated the issue and decided against it. Hamilton responded by inventing his theory of “implied powers” of the constitution which, to this day, has the effect of allowing politicians to say that just about anything and everything the federal government does is “constitutional.”

Created in 1791, “The Bank of the United States promptly fulfilled its inflationary potential,” Murray Rothbard wrote in History of Money and Banking in the United States. It issued millions of dollars in paper money and demand deposits, on top of $2 million in gold and silver. It invested heavily in loans to the U.S. government. “The result of the outpouring of credit and paper money,” Rothbard wrote, was “in increase [in prices] of 72 percent” from 1791 to 1796.

Northern merchants and bond speculators supported the Bank, but the growing tax burden imposed by the Federalists to support the rapidly-growing public debt led to a political backlash that ended in Congress allowing its charter to lapse in 1811.

The War of 1812 was then used as an excuse to bring back the bank to monetize the war debt. It went back into business in January of 1817 and quickly inflated the currency, causing the Panic of 1819, which Murray Rothbard called the first depression in the “new country.”

In his book The Sovereign States James J. Kilpatrick devotes a chapter to the effects of the Second Bank on various states. He wrote of mismanagement, speculation, and fraud that was so pervasive that it created “a wave of hostility toward the Bank of the United States all throughout the country. Indiana and Illinois amended their constitutions to prohibit the Bank of the United States (BUS) from operating there. North Carolina, Georgia, Maryland, Tennessee, and Kentucky imposed heavy taxes on BUS branches that popped up in those states ($60,000 per year in Kentucky). The obvious purpose of these taxes was to drive the BUS out of the state. When the BUS refused to pay the $50,000 per year tax on each of two branches to the state of Ohio the Ohio legislature sent an armed marshal to the bank who walked into the vault and retrieved $100,000. Connecticut, South Carolina, New York, and New Hampshire then followed Ohio’s lead.

By the 1820s the BUS had become a bureaucratic behemoth with twenty-nine branches; its main headquarters in Philadelphia “looked like a Greek temple,” wrote historian Robert Remini, and “had earned widespread hatred and fear throughout a substantial part of the nation.”

Upon taking office in March of 1829 President Andrew Jackson condemned the BUS as “a monster, a hydra-headed monster . . . equipped with horns, hoofs, and a tail so dangerous that it impaired the morals of our people, corrupted our statesmen, and threatened our liberty. It bought up members of Congress by the dozen . . . subverted the electoral process, and sought to destroy our republican institutions.”

The BUS’s supporters were the corrupt remnants of the old Hamiltonian/Federalist political machine, primarily from the ranks of the “one percenters” of the day. Its opponents were by contrast “men from all classes,” and “from all sections of the country,” wrote Remini in Andrew Jackson and the Bank War.

On July 10, 1832 President Andrew Jackson vetoed the bill to recharter the BUS and his veto was not overridden. The BUS eventually went out of business over the next several years. Jackson’s veto statement roundly condemned the institutionalized political cronyism of the BUS, which of course was always Hamilton’s (and Morris’s) main objective. “It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes,” said Jackson. Government grants of “titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful” are illegitimate, he said. “The humble members of society . . . who have neither the time nor the means of securing like favors . . . have a right to complain of the injustice of their Government.” He then vetoed the bill.

The statist court historians of the American academic history profession have long slandered this classic, libertarian declaration as “beneath contempt,” wrote Robert Remini. Of course they have. Court historians are always rewarded in myriad ways for being the apologists, propagandists, and mouthpieces of corrupt political establishments.

So there are three examples in American history of central banks being abolished. It took the political descendants of the old Hamilton/Federalist coalition another seventy five years to re-establish another central bank that has, for the past 111 years, caused the worst boom-and-bust cycles in American history, the worst price inflation in American history, bailed out crooked and incompetent banks with untold billions of dollars, and fostered the exact same kind of cronyism and corruption that so incensed the Jacksonian libertarians. The Fed cannot be reformed. It is time that it went the way of the Bank of North America and the BUS.

Credit: https://dollarcollapse.com/tom-dilorenzo-the-american-tradition-of-abolishing-central-banks/

Ottawa, Ontario–(Newsfile Corp. – July 23, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces that the Company intends to issue 306,396 common shares of the Company in connection with a US$48,000 (CAD$66,024) share payment due under the option agreement covering a portion of the Company’s landholdings for the Gold Chain project in Arizona.

The common shares issued will have a statutory hold period of four months and one day from the date of issuance. This shares-for-debt transaction remains subject to TSX-V approval.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.

For further information regarding this press release contact:

Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedarplus.ca. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217504

North Vancouver, British Columbia–(Newsfile Corp. – July 22, 2024) – Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQB: LOMLF) (“Lion One” or the “Company”), is pleased to announce that in response to market demand, it has arranged, subject to the approval of the TSX Venture Exchange (“TSX-V“), a non-brokered private placement (the “Sidecar Private Placement“) of up to 5,405,405 units (the “Units“) at a price of $0.37 per Unit for total gross proceeds of up to $2,000,000. Each Unit consists of one common share (the “Common Shares“) and one Common Share purchase warrant (the “Warrants“), each such Warrant exercisable at a price of $0.50 per share and expiring 36 months from the date of issue.

The Sidecar Private Placement reflects the same terms as the previously announced $10 million private placement led by Eight Capital as lead agent (the “Agent“) pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “LIFE Offering“). However, the Sidecar Private Placement will be settled directly with the Company and not through the Agent. The Company may pay a finder’s fee on the Sidecar Private Placement in accordance with the policies of the TSX-V. The net proceeds of the Sidecar Private Placement will be used for working capital and general corporate purposes. All securities issuable pursuant to the Sidecar Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities laws.

The Sidecar Private Placement is expected to complete concurrently with the LIFE Offering. In aggregate, under the LIFE Offering and the Sidecar Private Placement the Company expects to issue 32,432,432 Units for gross proceeds of $11,999,999.80.

Certain subscribers under the Sidecar Private Placement are expected to be directors and management of the Company. The issuance of Units to directors and management of the Company will constitute a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61- 101“). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither 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.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Sidecar Private Placement and the Offering, and the proposed use of proceeds of the Sidecar Private Placement and the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Sidecar Private Placement and the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Sidecar Private Placement and the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217406