In this PDAC interview, Gregg Sedun, lead director of Core Gold, discusses gold prices and the company’s merger with Titan Minerals.
The Investing News Network (INN) sat down with Gregg Sedun, lead director of Core Gold (TSX:CGLD,OTCQX:CGLDF), at the Prospectors & Developers Association of Canada (PDAC) convention.
Sedun touched on what he thinks is happening with gold right now, Core Gold’s merger with Australian miner Titan Minerals (ASX:TTM,OTC Pink:TTTNF) and why now is the perfect time to adopt the merger-and-acquisition strategy that the markets have been seeing in increasing amounts.
When asked about the price of gold, Sedun responded, “you’ve seen gold move up, but then really, in the last few days, you’ve seen it move down as well […] so I’d say it’s been really a neutral event for us.”
One thing that has not been neutral for the gold miner is its recent merger with Titan Minerals, which closed on Monday (March 25).
“[Titan is] bringing a significant amount of capital, so it made sense for us to do a deal with them.”
Sedun noted that Core Gold will also benefit from the merger due to the fact that Titan is Australia based and there is a “very strong market in gold” within Australia.
The lead director said that this deal will unlock value so that the company can begin exploration that it was previously held back from due to a lack of capital.
“We’ve got some great exploration projects we haven’t really had the opportunity to explore. We’ve probably got too much debt for a small company and new capital allows us to pay down some of that debt and really have a good serious look at our projects exploration-wise.
“We’ve got probably four projects that we need to get in there and explore and that’s what we’re going to start on,” he noted.
Watch the interview above for more from Sedun. You can also click here to view our full PDAC 2019 interview playlist on YouTube.
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Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.