TR did charts on this one 11 days ago (post #820). Today’s trades so far: Pacton Gold Inc.
Pacton Enters into Definitive Agreement on the Drummond East Pty Ltd granted exploration licenses
BY GlobeNewswire
— 9:01 AM ET 08/16/2018
VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) – Pacton Gold Inc. (PACXF) (the “Company” or “Pacton”) is pleased to announce that further to the binding letter of intent (“LOI”) signed earlier this year (see news release dated May 22, 2018) the Company has finalized and entered into a Share Sale Agreement (“Agreement”) to acquire 100% of the shares in Drummond East Pty Ltd (“Drummond East”) from Impact Minerals Limited (IPPTF) (“Impact”) which holds seven granted tenement licenses in the Pilbara, comprising of a total of 1,126 km2 (“Property”). Agreement Terms
Under the terms of the Agreement, the Company will purchase 100% ownership of Drummond East by paying Impact CAD$325,000 and issuing to Impact 2,125,000 common shares of Pacton. Impact will be entitled to receive a discovery bonus of CAD$500,000 if Pacton publishes measured, indicated, or inferred gold resources of over 250,000 ounces on the Property.
Pacton and Impact will enter into a Minerals Royalty Deed whereby Impact will receive to a 2% net smelter royalty in respect of the Property. Pacton shall, retain an exclusive and unlimited right to purchase 50% of the net smelter royalty back from Impact for CAD$500,000.
The Agreement is subject to TSX Venture Exchange acceptance. About Pacton Gold (PACXF)
Pacton Gold (PACXF) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia. The Company recently raised approximately $5.5 million, currently controls the third largest conglomerate-hosted gold property portfolio totaling in excess of 2,500 km2 and continues to aggressively review additional accretive acquisitions.
On Behalf of the Board of Pacton Gold Inc. (PACXF)
Alec Pismiris
Interim President & CEO
For more information, please contact 1-(855)-584-0258 or info@pactongold.com.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Pacton Gold Inc. (PACXF)
FWIW…“Taking one more look at the move, it’s notable that almost every one of the 12 mining stocks traded on a United States exchange have hit a 52-week low. The only holdout is McEwen Mining, which is within spitting distance of its low.”
Baldy,
Would love to get your take on SAND. It’s taken quite a haircut recently and I’m considering taking advantage of it as it seems way oversold despite the price of gold.
Including 510 grams per tonne gold over 5.2 metres in OSK-W-18-1639; 742 g/t Au over 2.2 metres in OSK-W-18-1589;
21.6 g/t Au over 19.4 metres in OSK-W-18-1655; 198 g/t Au over 2.0 metres in OSK-W-18-1638;
25.7 g/t Au over 8.9 metres in OSK-W-17-1313.
Some amazing sections -
From ---- To __ Interval(m)__ Au uncut g/t
A new Dr. Quentin Hennigh (Chair, President and chief geo of Novo Resources) interview. You can keep up with the latest Pilbara stuff by following Dr. Hennigh’s interviews which he does from time to time.
https://www.youtube.com/watch?v=nfoNs7ig6jU
They seem to becoming confident in the “basin-wide” theory. And Also Dr. H. suggests large sample size assay reports should start coming out in 2 - 4 weeks. Now using 2 Falcon machines to support bulk sample assaying.
Note that Pacton Gold (funded up by Sprott et al. in May) has been on a rip of property buying in the last few weeks in the east Pilbara outside of the main spotlight of Novo / Artemis in the west Pilbara. Likely not a coincidence in timing or independent of the ‘basin-wide’ theory becoming more solid.
Sprott is going to have a 10% to 20% ownership of this whole gold rush thing where ever it goes.
When gold reverses strongly upward, both Osisko & Barkerville are going to shoot up.
Barkerville drills 23.6 m of 14.7 g/t Au at Cariboo
ISLAND MOUNTAIN DRILLING INTERSECTS NEW VEIN CORRIDORS AT MOSQUITO CREEK ZONE: 14.70 G/T AU OVER 23.60 METERS AND 17.31 G/T AU OVER 7.90 METERS
IM-18-094: 17.31 g/t Au over 7.90 meters IM-18-095: 11.33 g/t Au over 4.95 meters
IM-18-096: 24.02 g/t Au over 2.50 meters IM-18-097: 42.64 g/t Au over 2.80 meters
IM-18-098: 48.79 g/t Au over 1.65 meters IM-18-102: 14.70 g/t Au over 23.60 meters IM-18-106: 19.91 g/t Au over 5.10 meters
IM-18-106: 10.70 g/t Au over 15.95 meters IM-18-108: 3,780 g/t Au over 0.70 meter IM-18-112: 6.22 g/t Au over 10.30 meters IM-18-113: 11.83 g/t Au over 17.50 meters
IM-18-115: 105 g/t Au over 0.50 meters IM-18-118: 14.82 g/t Au over 6.75 meters IM-18-118: 34.94 g/t Au over 4.30 meters
IM-18-120: 10.33 g/t Au over 5.55 meters
This one is interesting so I’m posting it now. The three charts are all daily intervals.
First one points out a couple things. First is uptrend line support which sits just below .35 right now. If that one loses support the next uptrend line support is down around .225 currently. Next, trading is currently being supported on the 130 MA. Also, today’s candle has moved above the steep downtrend line.
The next chart outlines a potential bear pennant, which if plays out will test that lower uptrend line and perhaps go below. The stock is nearing oversold levels on the RSI, but there is still room for more downside.
The dollar is at an important level on this pullback. If you look at the previous 8 or so candles, the 130 MA was resistance. It then broke above the MA and started pulling back last week. This week it has dipped below the 130 but has support in the area of the green support line at 94.78, which you should look at as a general area of support and ignore the specific price. At this point today it has bounced from the green support line and is hanging around the 130 MA. How this candle ends on Friday could be useful for determining where it goes from here.
IVS appears to be consolidating inside a large pennant or triangle with the 130 as more of a magnet than support, but it trades such low volume that it’s tough to feel confident about it.
This one is nearing the 50% retracement of its long uptrend with support from the 130 MA sitting a little above. It might be consolidating into a bear flag so currently anticipating at least a little lower and possibly to the blue 180 MA and the 62% retracement. The stock is nearing oversold levels on the RSI.
Hey Rich,
Chart thoughts on SAND long and short term? I wound up picking up some shares at 3.69 Wednesday. I wish I had waited a day and picked them up yesterday, but there’s been a nice bounce back today. It was way oversold and a solid streaming company I’ve followed for years. Baldy used to be an advocate if SAND.
Sandstorm Gold’s (SAND) deal to acquire Mariana Resources is great news, risk on 30% Hot Maden? Hoping the situation in Turkey get’s turned around. I have a position in SAND also. Short term looks good to me, longer term I’ll have to watch closely. A good review here:
Pretium and Bruce Jack Mine has been mentioned a few times on main thread and here last Oct 17 - post #523. (Disclosure - I have a long position in Pretium Resources PVG.) Monthly chart is shown below for anyone interested.
Pretivm is creating value through gold by ramping up production of the 100%-owned Brucejack Mine.
The Brucejack Mine is a 2,700 tonnes-per-day high-grade gold underground mine located in northwestern British Columbia, approximately 65 kilometers north of Stewart. The mine began commercial operation in the summer of 2017 and produced 230,000 ounces of gold during the first nine months of ramp-up.
A feasibility study completed in June 2014 and updated in December 2016 has outlined Proven and Probable mineral reserves in Brucejack’s Valley of the Kings comprising 8.1 million ounces of gold (15.6 million tonnes grading 16.1 grams per tonne gold).
