| | | SVB, IAU, TUO, BTO
The shares of Silver Bull Resources aka SVB have woken up for the first time in a long time on the basis of their latest NR. Since 2019 SVB has been unable to access their only asset of worth, the Sirra Mojada Ag/Zn/Pb/Cu project in Coahuila, Mexico,, due to an illegal blockade which Mexican authorities have been unable or unwilling to address. Recently SVB announced an application to file for more than $178M in damages under NAFTA, and now we hear that Mexican authorities have requested a meeting on May 30th to try to negotiate an amicable sentiment.
SVB also announced that if that meeting doesn't resolve they will file a formal request for arbitration, They have also brought in a hot shot lawyer to help with negotiations, and reshuffled management between SVB and related company Arras Minerals aka ARK.
I doubt they will get all they are asking for, but I expect they will use whatever they do get to acquire a new asset. They could also just declare a cash dividend and wind up the company in order to concentrate on ARK.
Message 34270642
I-80 Gold aka IAU has released an update on drilling at what has become their flagship asset, the Ruby Hills project in Nevada. Last year they found high grade CRD Ag/Pb/Zn/Au mineralization in what they call the Hilltop zone, and now they have found a new zone of similar mienralization they are calling East Hilltop, with intersections like 0.5 g/t Au, 226.1 g/t Ag, 9.7% Zn and 10.0% Pb over 8.4M, & 3.2 g/t Au, 366.0 g/t Ag, 19.8% Zn and 10.2% Pb over 0.9M.
They also stepped out from the Hilltop zone, with one hole alone intersecting three separate zones of mineralization -- 3.4 g/t Au, 11.0 g/t Ag, & 6.8% Zn over 18.3M (Hilltop West), 9.9 g/t Au over 5.8M (Ruby Deeps extension) and 9.2 % Zn over 3.0M (new Geddes CRD discovery). They have also been drilling below the Archimedes pit, where they are finding multiple levels of mineralization, e.g. 7.1% Zn, 3.5 % Pb, 3.7 g/t Au & 116.7 g/t Ag in the Blackjack Zone and up to 11.6 g/t Au over 13.1M in the Lowerjack Zone.
They continue to drill with five rigs, including following up some intriguing gaps between known area of mineralization as well as new targets. Following drilling, we will get a new Resource Estimate and then economic studies, including conversion of the existing Ruby Hill mill to process the CRD minerlation.
Message 34270671
We've been waiting to hear how Teuton Resources aka TUO is going to monetize its share of the JV on the Treaty Creek property in BC's Golden Triangle and its giant Au/Ag/Cu deposits, and now we finally get an outline.
In essence, all of TUO's properties and JVs which are not Treaty Creek will be spun out into two separate company which presumably will be listed separately at some point. One will hold all the properties south of Treaty Creek along the Sulphurets fault which is prospective for more giant Au/Cu deposits, while the other will hold the Au prospects east and south of Stewart near the properties GOT and DV are exploring in the area.
It will take some time for the details to be worked out and the legalities satisfied. I expect a minimum of two years before current TUO shareholders end up with shares in all three companies, assuming Treaty Creek isn't sold first.
Message 34270981
FWIW, in the wake of last week's acquisition of SBB by B2Gold aka BTO, TD issued a new analyst report. Citing BTO's record of growing through acquisition of shovel Ready projects, particularly Fekola, they see the impact as Positive, but kept BTO as Action List Buy with a target of $9. |
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