NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that the Company has reached an agreement (the "Amendment") to amend the terms of the exploration and mining lease agreement dated June 21, 2021 between the Company's wholly-owned subsidiary, NV Gold Corporation (USA), Inc. ("NV Gold USA") and the owners of the Triple T property, pursuant to which the Company has the exclusive right to explore on and evaluate the Triple T Property in Pershing County, Nevada (the "Agreement"). Pursuant to the Amendment, the Company has agreed to issue an aggregate of 100,000 common shares of the Company (the "Payment Shares") at a price of C$0.30 per Payment Share to settle an annual payment of US$30,000 payable by NV Gold USA under the Agreement
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
![NV Gold Corporation Announces AGM Results](https://investingnews.com/media-library/image.png?id=32983888&width=1200&height=796)
NV Gold Corporation Announces AGM Results
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (“NV Gold” or the “Company”) is pleased to to report that all matters were approved at the Company’s annual general shareholders meeting (the “Meeting”) held on February 2, 2023. At the Meeting the Company’s shareholders (i) re-elected all of the Company’s current board of directors (the “Board”), Howard Golden, John Kerr, John Seaberg, Alfred Stewart and John E. Watson; (ii) approved the re-appointment of the Company’s current auditor, Davidson & Company LLP; (iii) approved and authorized the Board to fix the remuneration of the auditor; and (iv) approved the adoption of the Company’s new amended and restated 10% rolling stock option plan in accordance with the requirements of the TSX Venture Exchange.
About NV Gold Corporation
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-organized and well-financed exploration company with ~80 million shares issued and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2023 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director, and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact
Freeform Communications at 604.245.0054
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 news release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and statements that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
NV Gold Announces Amended Triple T Property Lease Agreement
The issuance of the Payment Shares is subject to TSX Venture Exchange approval. The Payment Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 news release.
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the Amendment and issuance of the Payment Shares. 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.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approval of the Amendment and issuance of the Payment Shares.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE:NV Gold Corporation
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation Reports Strong Surface Samples, 5440 g/t Ag and 1.26% Cu, and 14.4 g/t Au at Root Spring Project in Nevada
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to report promising gold, silver, and copper values from rock chip sampling at its 100%-owned Root Spring Gold Project in Pershing County, Nevada. Two new samples with up to 14.4 gt gold (0.463 ounces per ton (opt)) accompanied by high silver values reaching 5440 gt (175 opt) and 1.26% copper These samples eclipse the historical high-grade samples and the Company plans to reevaluate the Property for a potentially larger and higher-grade target
John Watson, Interim CEO commented, "These recent encouraging samples were collected in one of the limited bedrock exposures on the property. They clearly support the strength of a strong precious metals system and encourage additional exploration of the property. The Company is evaluating the possibility of a genetic link to our nearby Triple T project."
About the Root Spring Gold Property
The project is situated 28 kilometers east of the Rochester silver-gold operation and 21 kilometers east of NV Gold's Triple T gold project (see Figure 1, 2 & 3).
The Property consists of 26 mining lode claims (520 acres). The property was acquired from Redstar Gold in 2016 as part of a larger transaction.
The project contains an epithermal/mesothermal silver-gold quartz vein system exposed at the edge of a large alluvial-covered valley. Mineralization is hosted in the Triassic Koipato volcanics. The Koipato hosts the Rochester Ag-Au deposit as well as the Spring Valley gold deposit 27 km west of Root Spring.
The quartz vein system is exposed for at least 1.2 km along a northwest strike, with individual veins to 5m thick. Extensions of the veins along strike as well as surrounding country rock are concealed by alluvial cover within a northwest-trending alluvial-filled valley corridor along a range front. Like the Rochester deposit to the west, the Root Spring Au-Ag system is adjacent to a Triassic granitic pluton.
Historical surface rock-chip gold values in veins reached 9.36 g/t gold (0.273 opt) accompanied by high silver reaching 1500 g/t (44 opt). The veins are surrounded by widespread, locally mineralized quartz-sericite-pyrite alteration of the host felsic volcanic sequence recognized from earlier shallow drilling.
The project exploration approach is in keeping with the Company's vision of discovery potential beneath Great Basin gravel cover.
A limited first-phase drilling program in 2012, consisting of eighteen core holes totaling 1,232.31 m, intersected Au-Ag mineralization down-dip of exposed veins, however, drilling was very shallow (68 m average length
Results included 11.9 m grading 13.8 g/t Ag and 0.17 g/t Au, 10.7 m grading 17.23 g/t Ag and 0.14 g/t Au and 9.3 m grading 16.47 g/t Ag and 0.53 g/t Au (see Figure 2).
Thomas Klein, VP Exploration stated, "I am excited about recent gold, silver, and copper results from our Root Spring project. It is encouraging to have verified historical high-grade values on the Property, which is an indication of a potentially strong and large mineralizing system below the thin alluvial cover. NV Gold is planning to further evaluate the Property and surrounding area to test and identify a possible genetic link with other gold-silver occurrences within the region, including Triple T and Rochester. Ongoing work programs will include re-mapping and more detailed rock chip sampling of the Property."
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 news release.
![](https://www.accesswire.com/imagelibrary/db114fa3-a8d5-45f3-8093-125bb8f2ad8d/856311/image.png)
Figure 1. Location of the Root Spring project with respect to other gold and silver deposits of the region.
![](https://www.accesswire.com/imagelibrary/5b9d9a6f-251e-405e-97e6-ffec8da33c95/856311/image.png)
Figure 2. Historical sampling and drilling at Root Spring and location of recent high-grade samples (left side is gold in g/t,and right side is silver in g/t).
![](https://www.accesswire.com/imagelibrary/d1a1bfd4-a227-47c8-ab82-39f44df1e5b4/856311/image.png)
Figure 3. Outline of potential target areas for covered silver-gold mineralization along the Rochester-Triple T-Root Spring corridor.
SOURCE: NV Gold Corporation
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Announces Secured Loan Terms
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that that it has entered into (i) a secured loan agreement with John Watson (the "Lender") pursuant to which the Lender provided a loan to the Company in the principal amount of US$50,000 (the "Secured Loan") and (ii) a share pledge agreement with the Lender, which secures an aggregate principal amount of US$400,000 in loans provided to the Company by the Lender to date, as described herein
The Company previously entered into loan agreements with the Lender on June 26, 2023, July 10, 2023, September 18, 2023 and January 22, 2024, pursuant to which the Lender provided the Company with loans in the aggregate principal amount of US$350,000 (the "Prior Loans" and together with the Secured Loan, the "Loans").
Each of the Loans bears interest at a rate of 12% per annum, compounded annually, and have a maturity date which is the earlier of one year from the effective date of the applicable loan agreement and the date the Lender demands repayment of the applicable Loan.
As security for the aggregate principal amount of the Loans and the Company's performance under each loan agreement, the Company and the Lender entered into a share pledge agreement. Pursuant to the share pledge agreement, the Company pledged to the Lender all of the issued and outstanding common shares of NV Gold Corporation (USA), Inc. (the "NV Gold USA"), a wholly-owned subsidiary of the Company, which holds the Company's mineral projects and lease agreements in the United States.
Multilateral Instrument 61-101
The issuance of the Loans and entering into of the share pledge agreement are each a "related party transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Lender is an insider of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(f) of MI 61-101 on the basis that the transactions did not exceed 25% of the fair market value of the Company's market capitalization and the Loans are on reasonable commercial terms that are not less advantageous to the Company than if the Loans were obtained from a person dealing at arm's length with the Company. The Company did not file a material change report more than 21 days before the entering into of the share pledge agreement as the terms of the share pledge agreement were not settled until shortly prior to execution and the Company and the parties wished to close the share pledge agreement on an expedited basis for sound business reasons.
Stock Option Grant
Effective April 19, 2024 the Company granted an aggregate of 420,000 stock options to certain directors, officers and employees of the Company at a price of $0.29 per share for a period of five years. The options are subject to regulatory approval and are granted under the Company's stock option plan.
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totalling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 news release.
SOURCE: NV Gold Corporation
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Announces Effective Date of Share Consolidation
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that, further to the Company's press release on February 13, 2024, it is proceeding with a consolidation of the issued and outstanding common shares of the Company (the "Shares") on the basis of (1) post-consolidated Share for every ten (10) pre-consolidated Shares (the "Consolidation"). No fractional shares will be issued as any fractional share will be rounded to the nearest whole number. The new CUSIP number will be 67090W307 and the new ISIN number will be CA67090W3075. The Company's name and stock symbol will remain unchanged following the Consolidation
The Consolidation will be effective at the opening of markets on February 28, 2024. As a result of the Consolidation, the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. The Consolidation is subject to final confirmation by the TSX Venture Exchange.
Shareholders who hold their Shares through a securities broker or other intermediary and do not have Shares registered in their name will not be required to take any measures with respect to the Consolidation. Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company's transfer agent, Odyssey Trust Company, will receive a certificate representing the post-consolidated Shares.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 news release.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the effective date of the Consolidation; the number of Shares outstanding following the Consolidation; and the treatment of fractional shares in the Consolidation.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the number of post-Consolidation Shares being different from the number set out herein and the treatment of fractional Shares in the Consolidation being different from what is set out herein, and that the Company will complete the Consolidation on the anticipated effective date.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to complete the Consolidation on the expected effective date; that the treatment of fractional shares will differ for the treatment set out herein; and that the number of issued and outstanding shares following the Consolidation will differ for the number statement herein. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE:NV Gold Corporation
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
NV Gold To Consolidate Common Shares
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that it intends to consolidate of all of the issued and outstanding common shares of the Company (the "Shares") on the basis of one (1) post-consolidated Share for every ten (10) pre-consolidated Shares held (the "Consolidation"), subject to approval of the TSX Venture Exchange (the "Exchange
The effective date of the Consolidation will be announced in a separate news release once the Company receives approval from the Exchange. As a result of the Consolidation, it is expected that the 88,745,454 Shares which are currently issued and outstanding will be reduced to approximately 8,874,545 Shares, subject to rounding. No fractional Shares will be issued as a result of the Consolidation. Any fractional share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole Share, and any fractional share interest of less than 0.5 will be cancelled. The Company's name and stock symbols will remain unchanged following the Consolidation.
In accordance with the Articles of the Company, the Consolidation may be approved by the board of directors of the Company and shareholder approval is not required.
Shareholders who hold their Shares through a securities broker or other intermediary and do not have Shares registered in their name will not be required to take any measures with respect to the Consolidation. Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company's transfer agent, Odyssey Trust Company, will receive a certificate representing the post-consolidated Shares.
The Company believes that the Consolidation may have the effect of, among other things: increasing the interest of the financial community in the Company and potentially broadening its pool of investors; improving trading liquidity; and improving the Company's position to obtain financing and pursue new opportunities.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with ~89 million shares issued and no debt. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles) The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2024 is expected to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Waton, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
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 news release.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the expectation that the Company will proceed with the Consolidation; the number of Shares outstanding following the Consolidation; the effect of the Consolidation on the market for the Shares; the impact the Consolidation will have on the Company; and the treatment of fractional shares in the Consolidation.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will complete the Consolidation; that the Company will receive the necessary approvals to complete the Consolidation; that the number of Shares outstanding following the Consolidation will be consistent with the number set out herein; that the Consolidation will impact the Company as anticipated; and that the treatment of fractional shares will align with management's current expectations.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to complete the Consolidation; that the Company will not receive the necessary approvals to complete the Consolidation; that the treatment of fractional shares will differ for the treatment set out herein; that the Consolidation will not have the desired impact on the Company; and that the number of issued and outstanding shares following the Consolidation will differ for the number statement herein. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE:NV Gold Corporation
View the original press release on accesswire.com
News Provided by ACCESSWIRE via QuoteMedia
Strategy for Cuban Mining Joint Venture
Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) is pleased to advise that on 28 June 2024 Shareholders of the Cuban joint venture mining company, Minera La Victoria SA, formally adopted previously agreed modifications to the existing Joint Venture Agreement.
The changes to the Agreement will enable the joint venture to pursue a strategy to progressively evolve as a substantial mining company, with minimal future contributions required from Antilles Gold.
The clearly defined pathway for Minera La Victoria to meet its objectives follows:
- Q4 2024 - Commence construction of the relatively small Nueva Sabana gold- copper mine.
- Q3 2025 - Complete the DFS for the La Demajagua gold-silver antimony open pit mine.
- Q4 2025 - Cash flow from the Nueva Sabana mine.
- Q4 2025 - Sell up to 50% of the La Demajagua project to a mining company with experience in operating a two-stage fluidised-bed roaster similar to the one that will be utilised for oxidising the project’s sulphide ore.
- Q4 2025 - Commence construction of the La Demajagua mine.
- Q2 2027 – Cash flow from the La Demajagua mine.
If the joint venture follows this strategy, Antilles Gold's future contributions to the joint venture will be limited, and the Company could look forward to a distribution from the sale of an effective 25% interest in the La Demajagua project before the end of 2025, and dividends from the Nueva Sabana mine starting in 2026.
Minera La Victoria could also investigate an opportunity to develop a low cost open pit mine in 2026 based on a high grade outcropping gold deposit held by the Company's Cuban partner, GeoMinera.
Additionally, the joint venture may consider establishing a joint venture with a major copper miner to accelerate exploration and potential development of its porphyry copper properties.
Antilles Gold has been able to assemble an excellent portfolio of development and exploration properties within the joint venture, and is finding GeoMinera to be a pragmatic and supportive partner.
The value and liquidity of the shareholding in Minera La Victoria should continue to increase as the activities of the joint venture progress, and the Company will seek to monetise its investment in Cuba before the end of next year through the proposed partial sale of the La Demajagua project, or the sale of shares in the joint venture company.
Click here for the full ASX Release
This article includes content from Antilles Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
5 Top Weekly TSXV Stocks: Gowest Gold Jumps 86 Percent on Deal to Go Private
The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 0.89 points last week to close at 569.82.
The US Bureau of Economic Analysis released its latest personal consumption expenditures (PCE) data this past Friday (June 28) in its Personal Income and Outlays report. The PCE minus food and energy is the favored index of the US Federal Reserve.
The report stated that the PCE price index rose 2.6 percent year-over-year in May, and increased just 0.1 percent month-over-month compared to April. This year-over-year increase marks the lowest since March of 2021, the last time it was below the central bank’s target 2 percent inflation rate.
Additionally, the report indicated that personal income saw a modest 0.5 percent growth in May while personal spending bumped up 0.2 percent since April.
North of the border, Statistics Canada released its Natural Resource Indicators report for the first quarter this past Monday (June 24). The agency reported that real gross domestic product (GDP) for the natural resources sector declined 0.7 percent for the first three months of the year compared to the fourth quarter of 2023.
The decrease was headlined by a 2.5 percent decrease in the forestry subsector followed closely by a drop of 1.1 percent in the minerals and mining subsectors. On a granular level, metallic mineral extraction grew 1.8 percent, which was offset by a 2.8 percent fall in primary manufacturing.
Even though the real GDP decreased, export volumes for the first quarter grew 1.6 percent, with the minerals and mining subsectors leading the way at 5.3 percent, primarily attributed to outgoing shipments of unwrought gold.
Equity markets were largely flat this past week. The S&P 500 saw a modest increase of 0.02 percent to reach 5,460.49 points, the Nasdaq 100 climbed 0.18 percent to 19,682.87 points and the Dow 30 lost 0.17 percent falling to 39,118.86. Meanwhile, the TSX gained 1.35 percent to 21,875.79 points.
Commodities saw little movement this week with the S&P GSCI posting a slight loss of 0.12 percent to 578.38 points, while precious metals were volatile with gold rising slightly to finish the week at US$2,326.41 per ounce and silver falling to US$29.13.
So how have small cap mining companies on the TSX Ventures Exchange performed this past week? These are the top 5 gaining stocks.
1. Gowest Gold (TSXV:GWA)
Weekly gain: 85.71 percent; market cap: C$87.23 million; share price: C$0.13
Gowest Gold is an exploration company focused on advancing its flagship North Timmins gold project in Canada.
The property, located northeast of Timmins, Ontario, consists of 11 mining leases and 56 unpatented mining claims over 10,942 hectares and hosts several target areas including the Bradshaw deposit, the Roussain gold zone and the Sherian zone.
In a project update on May 13 the company reported on its Phase 2 diamond drilling activities as of April 30. The primary focus for Gowest is the Bradshaw deposit, where the company has completed 8,982 meters of drilling so far. The company highlighted an assay of 23.2 grams per metric ton (g/t) gold over 0.6 meters.
In the announcement, Gowest said it has also completed 1,754 meters across five holes at the Roussain zone, but had de-mobilized for the season and would resume exploration activities in late 2024. The company had also drilled 2,033 meters at the Sheridan zone across six holes, with another 400 meters planned.
The most recent news from Gowest came on Monday, when it announced it had entered into a definitive agreement with a group of existing shareholders, who hold 91.5 percent of company shares, to take the company private. The agreement will see the group acquire outstanding shares for cash consideration of C$0.15 per common share, a significant premium over the C$0.07 they were trading on June 21, when the agreement was signed.
2. Gabriel Resources (TSXV:GBU)
Weekly gain: 50 percent; market cap: C$12.56 million; share price: C$0.015
Gabriel Resources is a precious metals explorer and developer focused on advancing its Rosia Montana gold project. Based in Transylvania, Romania, Rosia Montana is in a region that has seen significant historic mining. Covering 2,388 hectares, the site is host to a mid-to-shallow epithermal system containing deposits of gold and silver.
The most recent mineral resource estimate from a 2012 technical report shows proven and probable quantities of 10.1 million ounces of gold and 47.6 million ounces of silver.
Gabriel has invested more than US$760 million into Rosia Montana, but has undertaken little development at the site since the early 2010s, as Romania blocked further development.
In 2015, the company entered into arbitration through the World Bank’s International Center for Settlement of Investment Disputes (ICSID) over permitting at the site and suggested that Romania was in violation of bilateral investment treaties. On March 8, Gabriel issued a press release with an update saying that its case against Romania had been dismissed by the ICSID, which also awarded Romania US$10 million in legal fees and expenses. Gabriel has said it will review the decision with its legal team and plans to evaluate its options.
While news of that decision caused Gabriel's share price to plummet in March, it saw gains after closing the initial tranche of a US$5.58 million private placement on May 17.
Its most recent news came this past June 21 when it released a corporate update indicating its application for an extension for its exploration license for an additional five years had been rejected by the Romanian National Agency for Mineral Resources. The company said it believes the decision is politically motivated and intends to vigorously pursue all legal avenues.
3. Arianne Phosphate (TSXV:DAN)
Weekly gain: 46.67 percent; market cap: C$50.72 million; share price: C$0.33
Arianne Phosphate is an exploration company focused on developing its Lac à Paul project in Québec, Canada. The asset, which is the world’s largest greenfield phosphate deposit, is fully permitted and is expected to cost US$1.55 billion to develop based on an engineering study released in March 2023.
Once complete, the mine is projected to produce 3 million metric tons of phosphate concentrate per year. In addition to fertilizer demand, Arianne is also projecting demand from the growth of lithium-iron-phosphate (LFP) batteries.
Shares in Arianne saw gains this past week following a news release on Wednesday (June 27) when the company announced the results of a prefeasibility study for Lac à Paul. The company said it had considered the viability of constructing a purified phosphoric acid plant to transform phosphate concentrate into battery-grade phosphoric acid for use in LFP batteries.
The study showed that the facility would be able to produce 350,000 metric tons of phosphoric acid annually, with an additional 220,000 metric tons of secondary product for use in fertilizers and animal feeds.
4. Golden Horse Minerals (TSXV:GHML)
Weekly gain: 42.86 percent; market cap: C$17.42 million; share price: C$0.10
Golden Horse Minerals is a mineral exploration company working to advance its project in New South Wales, Australia.
The project covers a 1,300 square kilometer land package and is composed of four primary zones containing gold and lithium targets. The area has also hosted a number of historic mining sites that have produced over 12 million ounces of gold. The company is currently working to advance the project to the production stage in 2025.
The most recent exploration announcement from the project came on April 2 when Golden Horse identified several new lithium targets on the property using soil geochemistry and analysis of historic drill cores. The company reported widespread lithium anomalism from the 240 soil samples, with 11 grading over 60 parts per million lithium up to a peak of 87.7 ppm, as well as results showing up to 58.4 ppm cesium and 724 parts per billion gold.
The most recent news from Golden Horse came this past Monday, when it announced it had appointed Nicholas Andersond as managing director and CEO.
5. Maple Gold Mines (TSXV:MGM)
Weekly gain: 41.67 percent; market cap: C$29.02 million; share price: C$0.085
Maple Gold Mines is a gold exploration company focused on the advancement of its Douay and Joutel projects located in the Abitibi Greenstone Belt in Québec, Canada. Both of its projects are 50/50 joint ventures with Agnico Eagle (TSX:AEM,NYSE:AEM).
The Douay project covers an area of 357 square kilometers. In a 2022 technical report, the company said the site hosts indicated quantities of 511,000 ounces of gold from 10 million metric tons with a grade of 1.59 g/t, with an additional inferred value of 2.53 million ounces from 76.7 million metric tons at 1.02 g/t.
The Joutel project covers an area of 39 square kilometers and is located directly south of Douay. The site hosts Agnico’s past producing Eagle-Telbel mine, which operated from 1974 to 1993. However, the mine itself is 100 percent owned by Maple Gold and is not part of the joint venture. To date, the company has used 250,000 meters of historic drill results to create 3D models to aid in current exploration efforts.
On June 20, Maple Gold announced a restructuring of the joint venture with Agnico Eagle that would see Maple Gold obtaining a 100 percent ownership interest in both Douay and Joutel projects in exchange for a 1 percent net smelter royalty. Agnico has the option to acquire 50 percent ownership in the projects when one of several milestones are reached as well, including a mine being approved for construction or the restarting of existing facilities.
This was followed by an announcement this past Monday that Maple Gold had completed a non-brokered private placement for gross proceeds of C$4.06 million. The company said funds were received from Agnico Eagle and an arms-length third party.
FAQs for TSXV stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many companies are listed on the TSXV?
As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 12:00 p.m. PST on June 28, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Prospector Announces Strategic Equity Investment By B2Gold
Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to announce that B2Gold Corp. (TSX: BTO) (NYSE American: BTG) (NSX: B2G) ("B2Gold") has agreed to complete a strategic investment into the Company. Pursuant to the transaction B2Gold has agreed to subscribe for an aggregate of 5,578,720 common shares of the Company (the "Shares") at a price of C$0.163 per Share for aggregate gross proceeds to the Company of $909,311.36 (the "Offering").
Rob Carpenter, CEO and Director of Prospector, said, "We are excited to have B2Gold as a keystone shareholder in Prospector Metals and our team is looking forward to their technical input on our flagship ML Project, Yukon. B2Gold is a major global gold producer with a strong commitment to communities, sustainable mining and employee safety. This investment and technical partnership will allow Prospector to advance the ML project more efficiently and it represents an endorsement of our exploration philosophy and targeting methods."
The gross proceeds from the issue and sale of the Shares will be used exclusively for exploration and development purposes on the Company's ML Project in the Yukon (the "ML Project").
The Shares will represent a total position of approximately 9.9% of the issued and outstanding common shares of the Company upon completion of the Offering.
In connection with the strategic investment the Company and B2Gold have entered into an Investor Rights Agreement dated June 28, 2024 (the "Investor Rights Agreement"), pursuant to which the Company will form a four person Technical Committee, of which will one person nominated by B2Gold, that will advise on and oversee exploration and development of the Company's ML Project.
In addition, pursuant to the Investor Rights Agreement:
- B2Gold has been granted subscription rights pursuant to which, subject to regulatory approval, it may subscribe for additional common shares up to maximum amount that B2 Gold's aggregate ownership interest would not exceed 19.9% of the issued and outstanding common shares of the Company;
- B2Gold has been granted a participation right to maintain its pro rata ownership in connection with future equity financings as well as following the exercise of convertible securities of the Company.
- B2Gold has been granted a top-up right to acquire common shares in a market transaction to maintain its pro rata ownership in connection with future share issuances that are not an equity financing;
- B2Gold has been granted a right of first refusal on any transaction resulting in the sale or disposition of any part of the ML Project; and
- For a period of 12 months, subject to limited exceptions, B2Gold will be subject to standstill restrictions.
In the event that B2Gold's aggregate shareholdings are reduced to less than 5% of the issued and outstanding common shares of the Company on an undiluted basis, the Investor Rights Agreement will terminate.
In addition, pursuant to the terms of a property purchase agreement dated December 29, 2023, Troilus Gold Corp. ("Troilus"), who currently holds 9,222,164 common shares in the capital of the Company representing approximately 18.16% of the Company's issued and outstanding common shares, holds a participation right to maintain an ownership percentage of up to 19.9% of the Company's outstanding share capital (the "Troilus Participation Right"). Pursuant to the Troilus Participation Right, as a result of the Offering, Troilus has the right, for a period of up to ten (10) business days from the date hereof to subscribe for up to an additional 4,777,574 common shares at a price of $0.163 per common share (the "Participation Right Offering"). Assuming the Troilus elects to exercise its entire Troilus Participation Right, on closing of the Participation Rights Offering, Troilus will hold an aggregate of 13,999,738 common shares, representing 19.9% of the then issued and outstanding common shares of the Company.
Closing of the Offering and the Participation Right Offering are subject to the satisfaction of certain conditions, including receipt of approval by the TSX Venture Exchange. All securities issued in connection with the Offering and the Participation Right Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ML Project Overview
The ML Project located approximately 80 km from Dawson City, Yukon Territory, and 25 km northeast of the former Brewery Creek Gold Mine. The ML Project geology is extensively metal endowed with numerous instances of high-grade gold, silver and copper in drill holes, trenches and surface rock samples.
ML hosts one of the few remaining Tombstone-style intrusions in the Yukon that has not been systematically explored with no significant work completed since 2008 and as such, no modern Intrusion Related Gold (IRGS) exploration models have been applied to ML despite the presence of a diagnostic Au-As-Bi-Te-W geochemical signature.
Previous exploration focused on well exposed Au-Cu-W skarn mineralization proximal to syenite intrusions, however little work was completed within the intrusions. Nonetheless, the presence of skarn Au-Cu mineralization provides key evidence of an active, metal-rich intrusive system with over 24 known high grade Au surface occurrences that have never been drill tested and numerous high-grade Au drill and trench results remain open-ended.
About B2Gold:
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.
About Prospector Metals Corp.
Prospector Metals Corp. is a Discovery Group Company focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Ontario, Canada - a Tier-1 mining jurisdiction with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Dr. Rob Carpenter at 604-354-6415 or by email at Rob-carpenter@rogers.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214949
News Provided by Newsfile via QuoteMedia
Newmont Welcomes Industry Veteran Red Conger to Board of Directors
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced the appointment of Harry M. (Red) Conger to its Board of Directors, who will also serve on the Safety and Sustainability Committee. Red brings over 46 years of extensive mining and leadership experience to Newmont's Board of Directors, having recently retired from Teck Resources, where he served as President and Chief Operating Officer.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240627078254/en/
![Newmont Welcomes Industry Veteran Red Conger to Board of Directors (Photo: Business Wire)](https://mms.businesswire.com/media/20240627078254/en/2172915/4/Red_Conger_Head_Shot_highres.jpg)
Newmont Welcomes Industry Veteran Red Conger to Board of Directors (Photo: Business Wire)
"We are pleased to welcome Red Conger to Newmont's Board of Directors. Throughout his distinguished career, he has gained a wealth of unparalleled experience in the mining sector and strategic insights. Red brings significant operational leadership to Newmont's Board," said Tom Palmer, Newmont President and CEO.
Prior to Teck, Red spent more than a decade at Freeport-McMoRan, ending his tenure at the company as President and Chief Operating Officer, Americas. He began his mining career at Kennecott Copper's Bingham Canyon mine, followed by more than two decades at Phelps Dodge Corporation, where he oversaw mining and processing across multiple operations in North America and South America. Across his various roles, Red excelled at creating operational efficiencies and supporting stable production throughout challenging cycles.
In addition to his corporate roles, Red continues to be an active leader across the broader mining industry, at organizations such as the National Mining Association where he previously served as Chairman, and the New Mexico Mining Commission where he previously served as Commissioner. He has been recognized for his leadership and contributions to the mining industry, reflected in a variety of industry awards, including most recently being elected to the National Academy of Engineering.
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240627078254/en/
Media Contact
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact
Neil Backhouse
Investor.relations@newmont.com
News Provided by Business Wire via QuoteMedia
Astral Resources NL (ASX: AAR) – Trading Halt
Description
The securities of Astral Resources NL (‘AAR’) will be placed in trading halt at the request of AAR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 2 July 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Astral Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Top 5 Gold Stocks on the TSX in 2024
The price of gold soared to record highs during the second quarter of 2024, reaching US$2,450.05 on May 19.
The historic gains were due to several factors including waning inflationary figures and speculation an improving economic outlook would cause the US Federal Reserve to begin cutting rates. Gold prices also saw continued momentum from central bank buying in April and slower outflows to Western ETFs.
However, the gold price saw its biggest drop in two years at the beginning of June as a strong jobs report cut the likelihood of a September rate cut and the People’s Bank of China reported it made no gold purchases in May.
The precious metal saw further declines in its price through June as the US dollar and bond yields both gained strength making gold a less attractive option for investors.
Despite the fall, gold remains near historic levels, trading above the US$2,300 mark.
What has this meant for gold stocks on the TSX? The list below outlines the five biggest gainers so far this year. Data for this article was retrieved on June 25, 2024, using TradingView's stock screener, and only companies with market capitalizations greater than C$50 million are included.
1. Galiano Gold (TSX:GAU)
Year-to-date gain: 87.9 percent; market cap: C$597.2 million; share price: C$2.33
Galiano Gold is a gold producer that is operating and developing the Asanko gold mine.
Asanko is located on the Asankrangwa Gold Belt in Ghana and consists of four open-pit mining areas: Abore, Miradani North, Nkran and Esaase. The site hosts a 5.8 million MT per year carbon-in-leach processing plant and, according to a March 2023 technical report, has proven and probable mineral reserves of 2.07 million ounces of gold.
Asanko was previously a joint venture in which both Galiano and Gold Fields (NYSE:GFI) owned 45 percent and the government of Ghana owned 10 percent. However, in late 2023, Galiano entered into a binding agreement with Gold Fields to acquire its 45 percent interest. The deal, which closed on March 4, saw Gold Fields receive 19.9 percent of Galiano shares, US$65 million and a 1 percent net smelter return royalty capped at 447,000 ounces of gold from the Nkran deposit.
In an announcement on March 11, Galiano reported high-grade results from infill drilling at Asanko’s Abore deposit, with one hole producing grades of 12.4 g/t gold over 45 meters from a depth of 191 meters.
The company used the results from the drill program to update Abore’s mineral resource and reserve estimates, as well as provide 2024 production and cost guidance.
Galliano shared these on April 16, announcing that 2024 guidance for the Asanko gold mine is expected to be within the 140,000 to 160,000 ounce range, with an all-in sustaining cost of between US$1,600 and US$1,750 per ounce. It also reported a 38 percent increase to Abore’s measured and indicated mineral resource estimate for a total of 658,000 ounces from 30.6 million MT with 1.25 g/t grading.
The company followed this announcement with its Q1 2024 financial results, reporting the production of 30,386 ounces, with production expected to ramp up in the second half of the year after the completion of waste stripping. It also said it had generated US$65.5 million in revenue from the sale of 31,840 ounces of gold at an average price of US$2,056 per ounce.
Shares of Galiano reached their year-to-date high of C$2.51 on May 28.
2. G2 Goldfields (TSX:GTWO)
Year-to-date gain: 85.33 percent; market cap: C$293.10 million; share price: C$1.39
G2 Goldfields is a gold exploration and development company that is working to advance projects in South America and West Africa. The company's founders were previously part of Guyana Goldfields, where they were involved in the discovery, financing and development of the Aurora gold mine in Guyana, the country’s largest gold mine, for Guyana Goldfields, before Zijin Mining (OTC Pink:ZIJMF,SHA:601899) acquired the latter company in 2020.
The company’s flagship Oko Aremu District is a 27,719 acre property located in Guyana’s Cuyuni Mining District. The project boasts 17 kilometers of prospective strike. To date, the company has drilled 235 holes.
Shares in G2 saw gains following a news release on April 3, when it announced an updated mineral resource estimate reporting an increase of 320 percent of indicated gold quantities to 922,000 ounces and a 69 percent increase of total contained gold to 2 million ounces from the combined Oko Main Zone and Ghanie Zone.
The company said the maiden resource estimate for Ghanie is a step toward realizing the scale of the Oko gold system.
In a follow-up announcement on April 8, G2 reported that it had received final approval to be listed on the Toronto Stock Exchange and that it would no longer be trading on the Ventures Exchange. The company said the graduation would provide better access to institutional investors and international capital.
In the most recent update from the project on June 25, G2 announced that diamond drilling was continuing to expand the Ghanie zone, including at depth, reporting it had encountered a highlighted intersection of 9.7 g/t gold over 10 meters at a depth of 628 meters.
Shares in G2 Goldfields reached a year-to-date high of C$1.41 on May 30.
3. Perpetua Resources (TSX:PPTA)
Year-to-date gain: 81.37 percent; market cap: C$564.13 million; share price: C$7.69
Perpetua Resources is an exploration and development company focused on the advancement of its Stibnite gold project located in Central Idaho, US.
The project lies within a historic mining district that hosted large-scale operations dating back to the early 1900s. Perpetua is working to reclaim the historic Yellow Pine and Hangar flat open pit mines, while also reprocessing historic tailings and restoring streams and fish migration routes on the site.
In the company’s November 2020 feasibility study, it reported an after-tax net present value of US$1.9 billion based on an average gold price of US$1,850 per ounce, providing for an internal rate of return of 27.7 percent and a payback period of 2.5 years. It also indicated a total gold recovery of 4.28 million ounces of gold over a 15-year lifespan of the mine with an annual recovery of 301,000 ounces.
The site also hosts significant amounts of antimony, which is classed as a critical mineral, with measured and indicated quantities of 205.89 million pounds. This has allowed the company to secure funding from the US government under the Defense Production Act, with the most recent US$34.6 million being awarded on February 12.
Perpetua is currently awaiting a decision on its environmental impact statement, which it expects during the second half of 2024. Permitting and construction for the project is expected in 2025 with the first production slated for 2028.
On March 21, the company announced it had received US$8.5 million from Franco-Nevada (TSX:FNV,NYSE:FNV) in exchange for a royalty on all payable silver revenue over the life of the mine.
The most recent funding news came on April 8, when the company announced it had received a letter of interest from the Export-Import Bank of the United States for potential debt financing up to US$1.8 billion through the bank’s Make More in America program and its China and Transformational Exports program.
Shares in Perpetua reached a year-to-date high of C$9.42 on June 3.
4. G Mining Ventures (TSX:GMIN)
Year-to-date gain: 69.72 percent; market cap: C$1.08 million; share price: C$2.41
G Mining Ventures is a gold development and mining company, working to complete the Tocantinzinho mine in the Tapajos region of Brazil, which is expected to begin commercial production in the second half of 2024.
In a February 2022 feasibility study, the company reported an after-tax net present value of US$622 million with an internal rate of return of 24 percent at a gold price of US$1,600 per ounce. According to the study, the project hosts measured and indicated reserves of 2 million ounces of gold.
Shares in G Mining soared following a release on June 11 that it had begun the hot commissioning process after receiving the necessary permits from the Para State Environmental Agency. The permits allow G Mining to begin processing ore at the site as well as disposing of tailings and selling and exporting gold.
The company said the Tocantinzinho mine is 97 percent complete and is on budget and on schedule to come online in H2 2024. When fully operational, the mine will produce 175,000 ounces of gold per year, with a 10.5 year mine life.
Shares in G Mining reached a year-to-date high of C$2.41 on June 26.
5. Mineros (TSX:MSA)
Year-to-date gain: 67.69 percent; market cap: C$321.28 million; share price: C$1.09
Mineros is a mid-tier gold producer focused on Latin America.
Its primary assets are the Nechi alluvial mine in Colombia and the Hemco property in Nicaragua. Nechi features a cyanide- and mercury-free recovery extraction process using gold-hosted sands mined from closed ponds. In its 2023 management’s discussion and analysis report, released on February 15, the company indicates that 2023 production at Nechi totaled 93,756 ounces of gold, an increase of 1,372 ounces over 2022.
The company's Hemco operations consist of the Panama and Pioneer mines, and also have an arrangement to process ore from third-party artisanal miners. Production for 2023 reached a total of 125,951 ounces of gold, an increase of 6,569 ounces of gold compared to 2022. Mineros is expecting to begin production from the Porvenir satellite deposit at Hemco in 2027, which it says will add 44,700 ounces of gold output per year.
On May 19, Mineros released operating results for the first quarter of the year. In the announcement the company reported producing 51,741 ounces of gold during the quarter, a 14 percent decrease from the 60,248 ounces produced in Q1 2023. The decline was due to the discontinued operation at its Gualcamayo property in Argentina. However, its production at its current assets is still up year-over-year, as they combined for 50,609 ounces in Q1 2023.
Mineros reached its year-to-date high of C$1.25 on April 18.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.