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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: LoneClone2/27/2023 3:21:58 PM
2 Recommendations

Recommended By
Anchan
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IAU

I could have looked so smart...

As I was watching i-80 Gold aka IAU's webinar on their Ruby Hill property in Nevada last week, I remember them noting that the high grade CRD corridor they are exploring extends south on an adjoining property owned by Paycore aka CORE, and thought to myself that they just might buy out CORE.

However, I did not include that thought in my report on the webinar write-up. Too bad, because today IAU did announce they are buying out CORE in an all-share transaction. CORE's property is essentially a bolt-on to Ruby Hill, increasing its size by one third and extending the length of the important Jackson-Holley fault under their control to 4.3 km.

The deal has the support of CORE's board and large shareholders controlling 25% of the company, so given the good premium to market being offered I expect the deal to go through without a hitch. I also suspect this pretty well confirms that the Ruby Hill mill will be modified to produce Pb and Zn concentrates with PM kickers rather than being refurbished it as a PM mill.

Message 34204826

Saville is now of the opinion that the POG will likely retest the low just above $1800 it set last week rather completing a V bottom, but he remains firmly convinced that after the bottoming process is complete there will be a good run, likely to a new ATH, later in the year.
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