RRI, TUO, WGX, AUX, WRLG
News out today from Riverside Resources aka RRI that the spinoot of Blue Jay Gold, created to hold their Ontario gold properties, will occur of May 22, so to get any shares you have to be an RRI shareholder as of the close of markets on May 21. Blue Jay will be applying to list on the TSXV.
newsfilecorp.com
Teuton Resources aka TUO released an update on a number of its properties in the Golden Triangle area of BC.
The update covers a total of 8 properties, a number of them owned 50-50 with Silver Grail Resources. It sounds like this summer's exploration will consist mostly of mapping and sampling and geophysics, though if things go well we might see some drilling this year. Notably, two of the properties, Fiji and Tonga, lie between DV's Homestake property and GOT's Surebet proper in what has become a very hot area.
As well, Luxor Metals, which holds some of TUO's properties in the area, has received approval to be spun out to TUO shareholders, after which it is anticipated Luxor will be listed on the CSE.
The unmentioned elephant in the room is TUO's share of the Treaty Creek project and its large Cu/Au/Ag depostis. Both Tudor Gold and TUO have been maneuvreing to prepare Treaty Creek for what I assume will be an eventual sale. Depending on how that process goes, within a few years current TUO shareholders might have received shares in Luxor, shares in 'New Teuton' minus Treaty Creek and the Luxor properties, and perhaps even a cash dividend using receipts of a Treaty Creek transaction.
Along these lines, TUD announced today that Ken Konkin, who has been President and CEO of TUD, is stepping back to his old role as head of exploration, with two new heavy hitters coming on board to take over what had been his roles. They are clearly getting ready for a change in the company, which again I suggest will be the sale of Treaty Creek.
Message 35133534
West Australian gold miner Westgold Resources aka WGX released their Q! (Jan-Mar) results a few weeks ago, and now you can access their TSX-mandated MD&A and Financial Results at the link below. I took a quick look and couldn't find anything new, but maybe you can...
westgold.com.au
Golden Cross Resources aka AUX released an update on exploration at their recently acquired gold prospects in Victoria, Australia, very close to SCGX's Sunday Creek discovery which is generating a lot of buzz of late.
Drilling will start next month on their Ready Creek property, directly north of Sunday Creek, targeting the Prince of Wales and Wieneroider prospects. Target selection will be assisted by VRIFY's Ai-assisted DORA technology, which has been useful on a number of other properties.
AUX is already starting to run, but I am thinking of adding to my holdings anyway.
Message 35134368
West Red Lake Gold aka WRLG continues to release drill results from its Madsen gold mine in Ontario, which it will be bringing into production later this year.
This time the drilling was in the South Austin zone, located under the area where part of the recent bulk sample was extracted. These drill holes were located about 300m down plunge from the ones released in February, with the feature intercepts including 8.97 g/t Au over 18.7m, 52.86 g/t Au over 4.5m and 25.49 g/t Au over 7.5m. With this mine, given past failures, the key is to build up an inventory of high-confidence results, and the drilling at South Austin has certainly met that goal. Drilling continues.
I am playing WRLG through the A warrants which still have almost four years of life with a strike price of 95 cents. WRLG's share price is rapidly approaching that strike price. Accordingly, I increased my ask on the warrants, which I have up for sale.
Message 35134397
Saville reminds us that most broad commodity bull markets begin as a gold bull market that spreads to a several years long rally across most raw materials. He expects this to begin once it becomes widely accepted, that we are in recession, likely before the end of the year. |
