It appears there may be a takeover in the making at Golden Dawn minerals.
Steo 1) Ximen Mining first hires GOM's P Geo Mat Ball ,
Next GOM CFO resigns, and the position is filled by Ximen minings own CFO. who requests a trading Halt till end of May. Hindering any attempt of a Hostile takeover. Anderson now owns approx. 19% of outstanding shares in GOM.
3) Ximen buys near by high grade Kenville Gold where -------------------------------------------------------------------------
Tonnage Ounces Ounces Grams per Grams Category (Tonnes) per Ton Gold Tonne Gold ------------------------------------------------------------------------- Measured 3,312 0.92 3,377 31.71 105,044 ------------------------------------------------------------------------- Indicated 21,312 0.55 12,912 18.84 401,598 -------------------------------------------------------------------------
Total 24,624 0.66* 16,289 20.58* 506,642
A further ; Inferred 522,321 0.68 356,949 23.01 12,016,536
This being within hauling distance of GOM's greenwood Mill. and would probably double it's LOM
4) GOM offers a PP, Chris Anderson, Ximen Mining buys it.
5) Anderson makes an investment and relieves RIVI debt.
6) Chris Anderson is appointed new GOM interim CEO and says he will put GOM into production
7) XIM and GGX report drilling on the Gold drop property next to Greenwood mill has began immediately. and assays of cores will be. Gold Drop is being earned in by GGX from XIMEN. XIM retains Back in rights. Gold Drop is in the same office as XIM I suggest just a XIM subsidiary. Many of the same people in both companies including Chris Anderson and the same CFO.
The gold drop produced the highest gold grade Core assayed any where in North America in 2018 at 129 GPT Au.
8) Ximen takes up 12000 hectares in claims near the Gold drop and Greenwood mill. sewing up a great number of old producing mines for future further exploration.
To compound the value of the Green Wood Mill to XIM. Consider their other holdings also with in easy hauling distance. Their high grade Brett property just outside of Vernon BC is mined yearly with no mill of their own. Ore is hauled to another location and done under contract.
Ximen also owns the former Huldra Silver mine near Merritt BC about a 3.5 hr truck distance.
I have a 1x 1.5 x 2 inch piece of that ore on my desk as a paper weight it is basically a pure silver block. Honestly that high grade. Perhaps I'll post a picture of it to view.
The thing to think about here is I believe Golden Dawn will eventually be folded into XIM on a share swap. When Chris puts GOM into production I do not believe shares will remain at 6 cents. The other benefit is here. Unlike copper Fox where they have no real voice as Teck is the operator.
In this case Ximen and it's people who are aggressive and growth hungry not only controls the operations. They also have serious investment in all things connected. Ximen shares are only 75 cents with 21 million S/Float.
In my view These entities have an above average chance of being consolidated into one. And definitely if the core sampled at GGX prove anything close to previous ones.
The Gold Drop property, historically supported a town by just follow mining the gold vein. and closed after an explosion. Todays technology is producing far higher grades and volumes at the same locations as these old mines had and were thought to contain when originally discovered.
The Mill is readily upgraded to double its present capacity and still present a 10 to 15 year LOM. That makes the whole package a future buy out target for a larger miner like Kinross who is suggesting they may close their Kettle River mill to the south on the American side. But has last year discovered mineral on their own claims optioned from GZZ Approx. 7 or so Km below the Green wood mill still in Canada.
I have placed money in all three but weighted XIM, GOM then GGX respectively. When compared to CUU / Teck XIM holds the Teck position
Gamble ? perhaps , But I believe weighted longer term in investor favor.
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