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#1366

I generally agree with those comments. Artemis said recently that they still had $6M, which isn’t bad compared to many juniors, but clearly not enough to finish the plant or really finish exploration on their many properties. The fear is definitely dilution.

The CEO did just do an interview. The course ahead is to get Carlow Castle to a PFS in late 2019, get the govt. approvals still lacking to bring Radio Hill online, and then start production ASAP, 2020 at the earliest for sure. How much will it cost to bring CC into production? Probably a modest amount, but clearly more than $6M. And the fear of dilution is driving the SP so low that it makes the potential dilution even worse, which raises the fear and so on.

CHG


#1367

Novo on a bit of a run of late. Up 20% so far today. I bailed on ARTTF yesterday. I got tired and frustrated with the downward trend. I likely sold at the low. Hopefully other Pilbara plays make up for it.


#1368

I’m holding on ARTTF for the line of reasoning you mentioned…NOVO should pull them all up (or down if it stumbles.) No news on NOVO so hope the little run continues.


#1369

Just noticed Hochschild and McEwen Mining are investors in this new tech/mining exploration company: Goldspot Discoveries: https://goldspot.ca

Maybe Hochschild will give their tech a go on the LDM.


#1370

I had missed this earlier and just now just listened to the interview. Thanks for posting.
Anyone else that may have missed it and is interested can easily lookup the youtube link. It’s a short 6 min clip.

Bramwell did a respectable job in explaining the data at Carlow Castle. The preliminary work outlining potential targets in the Armada tenements project also looks promising. I was a little surprised that there has been no news on the Munni Munni project since the 70% earn in was completed and announced back in August of last year.

Munni Munni is the largest JORC compliant palladium resource in Australia, yet their ”looking forward” statement focus is on potential conglomerate or paleoplacer gold targets! With palladium prices rising and higher than the POG it would make more sense to complete a re-estimation of the 2012 JORC resource that was reportedly being evaluated. The company definitely is stretched too thin to complete the numerous projects undertaken without some additional funding. Perhaps the next announcement will be on a new JORC compliant Paladium resource estimate; The Pilabara conglomerate/paleoplacer gold story is too tired and “hard to put a value on” without a reliable resource estimate for the potential targets.

If the POG continues upwards into the summer as the dollar appears to be weakening, some of the streamers and larger miners with a positive cash flow look to be a better place to invest from a risk perspective.


#1371

ASX Announcement 26 March 2019
Westgold to Sell Higginsville Gold Operations to RNC Minerals Westgold Resources Limited (ASX:WGX) (Westgold) is pleased to advise that it has reached an agreement to divest its Higginsville Gold Operations (HGO) to RNC Minerals (RNC) in a deal that would combine the exciting Beta Hunt gold operations and HGO to enable expanded gold output, increased resource backing and plant ownership. The proposed transaction would see Westgold divest its wholly owned subsidiaries which own the assets and tenements which make up the HGO to RNC in exchange for $25 million in cash and $25 million in RNC shares. Under the option agreement, RNC will immediately pay Westgold $4 million of the $25 million in shares as a non-refundable deposit for a 40 day exclusive period to complete its due diligence and planning for a settlement in a further 30 days. The proposed transaction is subject to FIRB and Toronto Stock Exchange approval if required. The sale is expected to complete on a walk-in walk-out basis, subject to typical adjustments. It is anticipated that all employees will retain their jobs and any accrued benefits through the process of changing ownership. Westgold Managing Director, Peter Cook said, “This is a sensible transaction that gives both RNC and Westgold solutions for their project needs. The addition of the ‘bonanza grade’ gold discoveries and resource potential at Beta Hunt to the existing operation at Higginsville will provide enhanced gold output at lower costs, as well as security from ownership of substantial plant and infrastructure. Importantly the asset consolidation paints a bright picture for the future of the project and its employees. Westgold will become a significant shareholder in RNC Minerals and retain exposure to both HGO and Beta Hunt. Westgold’s core focus remains on its three gold operations in the Murchison Region and their expanding gold output.” Westgold has been advised by PCF Capital Group.
http://cdn.ceo.ca/1e9ip44-6A924717_WGX%20(1).pdf


#1372

Little surprised by this. $25 million? Where is RNC getting that kind of cash? The still have a lot of debt and had to finance the latest drill program. Maybe they found some more gold boulders?


#1373

Well…in answer to my own question I see this came out:

RNC Minerals (TSX: RNX) (“RNC” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Haywood Securities Inc. (“Haywood”) and Cantor Fitzgerald Canada Corporation (together with Haywood, the “Co-Lead Underwriters” and, collectively with the syndicate, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 24,490,000 common shares of the Company (the “Common Shares”), at a price of $0.49 per Common Share (the “Issue Price”), for gross proceeds to the Company of $12,000,100 (the “Offering”). Red Cloud Klondike Strike Inc. will be engaged as selling agent in the Offering.

The Company has granted the Underwriters an over-allotment option, exercisable at the Issue Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 3,673,500 Common Shares (representing 15% of the Common Shares offered pursuant to the Offering) to cover over-allotments, if any, or for market stabilization purposes.

The net proceeds received by the Company from the Offering will be used for exploration drilling and development at Beta Hunt and, in the event that the Company closes the proposed acquisition of the Higginsville Gold Operations from Westgold Resources Limited as further described in the Company’s press release dated March 26, 2019, to fund a portion of the cash component of the purchase price, and for working capital and general corporate purposes.


#1374

March 26, 2019

TORONTO, March 26, 2019 (GLOBE NEWSWIRE) – McEwen Mining Inc. (the “Company” or “McEwen”) (NYSE and TSX: MUX), is pleased to announce that it has entered into definitive agreements with an institutional investor, and certain directors and officers of the Company, including Rob McEwen, pursuant to which such investors have agreed to purchase Units of the Company for aggregate gross proceeds of $25 million in a registered direct offering.

McEwen Mining intends to use the net proceeds from this offering to fully fund its current mining projects and exploration prospects, for additional operating capital and for general working capital purposes.

Rob McEwen, Chairman and Chief Owner of McEwen Mining, stated “ I am pleased to say that this financing provides us with the flexibility we need to take advantage of additional opportunities at our operations.”

McEwen Mining is a growing gold and silver miner that produced 176,000 ounces gold equivalent in 2018. It owns interests in several mines, two of which are located in the world’s top gold mining jurisdictions of Nevada and Timmins. In addition, it owns a large undeveloped copper deposit in Argentina.

Each Unit is priced at $1.55 and consists of a share of common stock and one-half of a warrant to purchase common stock. Each full warrant is exercisable into one share of common stock. The warrants are immediately exercisable and have a term of three years and an exercise price of $2.00.

Roth Capital Partners and A.G.P./Alliance Global Partners are acting as exclusive lead placement agents for the Units offered in the United States and internationally (except Canada). Maison Placements is acting as exclusive placement agent for the Units offered in Canada.

The offering is expected to close on March 29, 2019 and is subject to customary closing conditions, including approvals from the TSX and the NYSE. The subscription by insiders is subject to shareholder approval at the Annual General Meeting of shareholders to be held on May 23, 2019.

The shares of common stock and warrants described above are being offered in the United States pursuant to an effective “shelf” registration statement (File No. 333-224476) that was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on July 6, 2018. The securities may be offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus will be filed with the SEC. The prospectus supplement and accompanying prospectus, when filed, will be available on the SEC’s website at http://www.sec.gov and may also be obtained from Roth Capital Partners at 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147.

McEwen intends to file a Canadian MJDS prospectus supplement to the Canadian MJDS base shelf prospectus dated August 8, 2018 with respect to the offering in Canada.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.


#1375

De Grey Mining Limited (ASX: DEG) – Trading Halt
Description

The securities of De Grey Mining Limited (‘DEG’) will be placed in trading halt at the request of DEG, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 15 April 2019 or when the announcement is released to the market.

Issued by
Daniel Nicholson
Adviser, Listings Compliance (Perth)


#1376

I own some De Grey (down about 40%). It would be nice to have some significant exploration results to get some activity in the Pilbara plays.


#1377

De Grey up 138% on pink sheets. Apparently the trading halt is in Australia but doesn’t affect US pink sheets.


#1378

Rick I’m looking at it in the pinks and she seems to be halted there know to.


#1379

To clarify, the trading halt was requested by the company due “to material exploration results from the Pilbara Gild Project.”


#1380

De Grey Mining in trading halt ahead of material exploration results from Pilbara Gold Project

14:40 11 Apr 2019

The trading halt will remain in place until an announcement is made or the start of trade on Monday, April 15.

De Grey’s shares last traded at 9.2 cents

De Grey Mining Limited ([ASX:DEG] has been granted a trading halt by the ASX with an announcement pending in relation to material exploration results from the Pilbara Gold Project in WA.

The company expects to be able to make an announcement on or before Monday, April 15, 2019.

A trading halt will remain in place until the beginning of trade on April 15 or when an announcement is released to the market, whichever occurs earliest.

De Grey is focused on its flagship Pilbara Gold Project about 60 kilometres south of Port Hedland and east of Novo Resources Corp (CVE:NVO) ground in the Pilbara.


#1381

Where’s TR when you need him? MUX is looking pretty good to buy on the dip but would appreciate a nice chart.


#1382

I was thinking the same thing. Blackfox and Nevada should be straightened out now


#1383

Shouldn’t you being selling on news? :wink:


#1384

I’m waiting for the news to come out first. Then I’ll sell. I just hope it is something worthy of the halt and hype so that the price increases from current levels. It would be great if its news that positively affects other Pilbara plays.


#1385

wow, MUX really in the shitter would of never thought.