IAU, CAPT, TECT, OGC
Nevada gold miner i-80 Gold aka IAU released a PR covering more steps in its recapitalization. Part of it concerns a small PP taken up by insiders, but for the rest of it you have to be interested in items like "First Supplemental Indenture to Convertible Debenture Indenture". Basically, the holders of the $65M convertible debenture placement completed two years ago have agreed to a number of amendments concerning how and for what price the debenture can be redeemed, changes that the new IAU management considers to be favourable to its plans.
prnewswire.com
Since the last time they did any drilling, Capitan Silver aka CAPT has done three important things. They 1) added some new ground to their flagship Capitan property in Durango, Mexico and renamed it to Cruz del Plata; 2) did some mapping and sampling which indicates the high$grade silver veins they had drilled up extends onto the new property they acquired; and 3) raised over $5M to some more exploration.
Starting later this month, they will be undertaking 1) stepout and definition drilling in the Jesus Maria vein including on the new property; 2) stepping out along the Gully Zone; and 3) looking for parallel structures to the north of Jose Maria.
In addition a new Resource Report for the Cpaitan Hill Oxide Gold deposit is underway for release Q2. It currently has an Inferred Resource of 305k oz at 0.46 g/t Au, which is expected to grow considerably as the result of drilling since carried out by CAPT.
Message 35051339
Tectonic Metals aka TECT, which is competing with WEX to be the slowest moving pony in my stable of mining explorers, released a rare update from its Flat gold prospect in Alaska. The share price is currently up over 30%, no surprise given that they have found a new discovery they are calling the Alpha Bowl that measures 1.5km by 500m. All five holes began and ended in mineralization with the feature assay being 65.53m @ 1.22 g/t Au. As well, TECT say they have confirmed that the Alpha Bowl contains the bedrock source for one of the most prolific placer gold operations in Alaskan history.
There are some links to some good audiovisuals and presentations on the property, but as usual they are infuriatingly vague about what comes next.
Message 35051400
OceanaGold aka OGC released a two part PR concerning their Wharekirauponga (WKP) deposit on their Waihi property in New Zealand, which they are planning to bring into production in the coming years.
First, they have requested expedited permit approval for WKP under the Fast-track Approvals Act recently passed by the NZ government. They expect to receive all permits necessary to begin construction before the end of 2025.
OGC also announced the assays for five more drill holes into WKP, and the news was good there too. The holes were deemed extensional, and indeed assays like 6.3m @ 8.7 g/t Au, 3.5m @ 14.0 g/t Au, and 5.7m @ 5.3 g/t Au demonstrate that the EG vain extends further in various directions, and remain open in various directions being followed up by more drilling. As well, high grade shoots within WKP keep growing in size.
OGC has dropped back close to the buy zone, so at what I consider the right time I will add back the shares I sold at higher levels last year.
Message 35052907
According to Savile this weekend, th PoG is likely to correct back to around $2800, but silver and the gold mining sector have reached price levels where some new buying could be appropriate. He see the correction in the PoG as short term bearish but intermediate term bullish. |
