IAU, ZNC, KTRI, TUO
The makeover at Nevada gold miner i-80 Gold aka IAU continues with the announcement that the President and COO Matthew Gill, who had occupied those positions since IAU was formed in 2001, will be stepping down after a successor is found. No reason is given, and he is thanked for a number of accomplishments, but clearly he no longer fits into the new management team and their very different approach.
Oh, to be a fly on the wall...
finance.yahoo.com
Speaking of makeovers, Zincore Metals aka ZNC announced the upcoming completion of its transition from being a former zinc explorer in Peru into a gold explorer in a hot area of the goldfields in Victoria Australia. They have now issued a Technical Report on their Ready Creek and Providence Au prospects, and as of Apr. 15th, will consolidate their shares 2.5"1 while changing their name to Golden Cross Resources and symbol to AUX.
I will hold through the transition and may add more as I become more familiar with the new properties.
Message 35100135
Kootenay Resources aka KTRI, which was spun out of KTN to hold tis BC Properties, released another update on its Two Times Fred gold prospect on the Nechako Plateau in BC. The property was previously farmed out to Centerra, and KTRI is going through what CTG found to to develop a new exploration programme. So far they have been able to identify five main veins, all under-drilled and all open in multiple directions.
KTRI is continuing to review CG's work, and I expect they are also looking for another JV partner.
Message 35103514
Teuton Resources aka TUO announced it had fulfilled all the requirements to spin out some of its properties into Luxor Metals as a wholly owned subsidiary. I then expect Luxor to be spun out to TUO shareholders and then listed, likely on the CSNX.
I also expect this is part of the machinations by the JV partners on Treaty Creek to monetize their holdings by selling it off.
thenewswire.com
FWIW, Scotia put out several new analyst reports on PM miners. They expect the high PoG to help, but also expect margins to remain flat in Q1 due to increased costs. They also expect mid-tiers to benefit from continued high levels of M&A. They increased targets for a number of gold miners; including raising EDV from $40to $43, IAU from $1.50 to #2.25, and OGC from $6 to $6,50,
Saville notes that the $US PoG and the gold mining indices have broken to new cycle highs. He also says that pullbacks to test the breakouts would be normal, but additional gains are expected within the next two months. |
