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Hi TT I do not expect to see gold produced for a few years if then. I am sticking around because the new management seems to have a good plan and hopefully in a year or so the share price moves above US$ 0.50 and/or they are bought out.
For years I see drilling with moderate to outstanding results but when are they start producing gold?
Galleon Gold’s Initial Metallurgical Studies Show High Gold Recovery for West Cache Gold Project
ResourceWorld - June 2, 2021
Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to announce positive results from the initial metallurgical test work (the “Study”) performed on samples from Zone #9 at its 100% owned West Cache Gold Project, Timmins, Ontario.
Whole Ore Cyanide Leaching Tests Recovered up to 96% Au
Note from the CEO-
David Russell CEO and President of Galleon Gold comments, “These initial test results are outstanding. We are very pleased with the recovery rates which indicate Zone #9 mineralized material will be easily recoverable using a standard processing route. The results are now in the hands of P&E Consultants who will be utilizing the data in the upcoming PEA. We look forward to receiving the remaining results from the Met Study and will start to plan optimization studies that can be implemented during the bulk sample phase.
Read more at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=827
West Cache Gold Project Delivers Again for Galleon Gold
Results include 4.96 g/t Au over 5.7 m
Resource World magazine - May 26, 2021
Galleon Gold Corp. (TSXV: GGO) (the “Company†or “Galleon Goldâ€) is pleased to announce additional Zone #9 intercepts from its 100% owned West Cache Gold Project, Timmins, Ontario.
Zone #9 – Near surface extension of mineralized zone
- WC-21-148 intersected 2.78 g/t Au over 5.0 m (76 to 81 m), including 9.29 g/t Au over 1.0 m (80 to 81 m); true thickness of these intervals is estimated at 91% of the reported intercept length
- WC-21-184 intersected 3.70 g/t Au over 5.0 m (100 to 105 m), including 5.85 g/t Au over 3.0 m (102 to 105 m); true thickness of these intervals is estimated at 99% of the reported intercept length
- Hole WC-21-148 tested the western edge of the Zone #9 shoot at a depth of 60 m below surface.
These results extend the near surface expression of Zone #9 to a total of over 235 meters.
- Hole WC-21-184 provides further confirmation and continuity of the near surface mineralization in Zone #9. The intercept is located 17 meters down dip from hole WC-21-115 which returned 11.25 g/t Au over 6.0 m, including 15.84 g/t Au over 4.0 m. (see press release dated February 16, 2021)
Read much more & view extensive graphics at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=811
Galleon Gold Provides Update on Baseline and Permitting Programs at West Cache Gold Project
Note from the CEO-
"David Russell CEO and President of Galleon Gold commented, “It has been an extremely active twelve months at West Cache, in addition to drilling over 45,000 meters, there have been numerous specialists involved in designing and carrying out baseline and permitting initiatives. Commencing these activities early ensures that the permitting process is well underway as we move the Project into the advanced exploration stage with a planned underground portal and ramp for the collection of a bulk sample. Galleon Gold is committed to transparency and working with all stakeholders to ensure that development of the Project proceeds in a timely and responsible manner.”
Read at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=804
You’re welcome
Hi TT Great detective work, I do believe it is Steven820. looks like he is off of iHub.
Thanks for searching.
Could that be Steven820 ?
Will try to find out who he was.
Was a bit lucky had a sell order at CAD .20 and it was filled. Could by more shares back at .07 and am now comfortable waiting.
The twins are a problem, both are addicted to gaming. The autisctic one extremely addicted. Not fun
Our European traveler. I vaguely remember a year or so ago when I asked if a poster was him he responded yes. He went on to state that he massively averaged down and then when it spiked up to US$ 0.20 (I think) he sold out at a profit.
I am pretty much at breakeven, so any continuing move up will be positive!
PS How are the twins?
Yeah nice move indeed although I seem to remember we had similar results before without such move.
Wonder the same about the European traveler.
Galleon Gold Reports Near Surface Intercepts at West Cache Gold Project - 9.37 g/t Au over 6.0 m
https://galleongold.com/news/galleon-gold-reports-near-surface-intercepts-at-west-cache-gold-project-9.37-g-t-au-over-6-m/
Hi TT, nice price move. Explor may become worthwhile after all. I wonder if the guy who drove across Europe to hear/meet the leader at that time is still with us.
Galleon Gold Continues to Define Gold at West Cache Project
Resource World - April 14, 2021
Galleon Gold Corp. (TSXV: GGO) (the “Company†or “Galleon Goldâ€) is pleased to announce additional Zone #9 intercepts from its 100% owned West Cache Gold Project, Timmins, Ontario.
Zone #9 – continued definition of grade and mineralization
WC-21-174 intersected 8.28 g/t Au over 13.04 m (211 to 224.04 m) including 14.58 g/t Au over 6.04 m (218 to 224.04 m); true thickness of these intervals is estimated at 98% of the reported intercept length
WC-21-119 intersected 7.93 g/t Au over 2.0 m (358.0 to 360.0 m) and 4.90 g/t Au over 1.5 m (364.5 to 366.0 m); true thickness of these intervals is estimated at 94% of the reported intercept length
Hole WC-21-174, located mid-way between previously announced holes WC-20-42 (7.44 g/t Au over 10.7 m) and WC-20-97 (7.66 g/t Au over 10.0 m), offers a strong confirmation of grade/thickness in a key portion of the Zone #9 mineralized shoot at 160 m below surface (see press releases dated September 29, 2020 and January 26, 2021). Assays and geologic data from Hole 174 will provide additional support for the modeling and resource work now underway as part of the Company’s upcoming Preliminary Economic Assessment (“PEAâ€).
Hole WC-21-119 was designed to test the dip extent and plunge of the lower portion of the Zone #9 shoot – this deeper intercept, located 258 m below surface, indicates that the mineralized Upper Shoot projects towards the West Deep gold deposit below.  In all, this most recent drilling supports the Company’s working model that the Upper Zone #9 Shoot, discovered in 2020, is likely linked to the much deeper West Deep shoot discovered a decade ago (TPW-10-30, 9.21 g/t over 11.0 m).  Importantly, there are over 400 meters of untested ground at depth between these upper and lower portions of the Zone #9 shoot.
Note from the CEO-Â
R. David Russell CEO and President of Galleon Gold comments, “We are very pleased with recent results from Zone #9.  Drilling in this area continues to provided ample data and information to make a meaningful contribution to our upcoming PEA.  Moreover, these results continue to support our planning for the next phase of development as we identify and design the portal and ramp for our initial bulk sample. This is a very exciting time for the project, and I believe we are well on our way to building the next gold mine in the Timmins camp.â€
Read more & view tables and graphics at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=758
Just yesterdays close and volume. Are you speaking Dutch aswell?
What’s this mean??
Galleon Gold - 38,000 Meters Completed and the Drills Keep Turning
Results include multiple intercepts ranging from 5 g/t Au to 27 g/t Au
[[ Thanks to Resource World March 2, 2021 ]]
Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to provide an update on the ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. The Company has completed 38,000 meters of drilling in 177 core holes and continues to return excellent drill results from across the project area.
Highlights from Central East Pit and the newly expanding area southward:
WC-20-65 intersected
7.33 g/t Au over 1.5 m (103.5 to 105 m)
5.22 g/t Au over 1.5 m (244.5 to 246 m)
5.94 g/t Au over 1.0 m (270 to 271 m)
WC-20-66 intersected 6.68 g/t Au over 1.5 m (409.5 to 411 m)
WC-20-67 intersected 7.9 g/t Au over 1.0 m (130 to 131 m)
WC-20-68 intersected
7.4 g/t Au over 1.0 m (175 to 176 m)
7.2 g/t Au over 1.0 m (315 to 316 m)
9.2 g/t Au over 1.0 m (322 to 323 m)
WC-20-69 intersected 9.82 g/t Au over 1.5 m (252 to 253.5 m)
WC-20-70 intersected 13.6 g/t Au over 1.0 m (216 to 217 m)
WC-20-71 intersected 12.6 g/t Au over 1.5 m (174 to 175.5 m)
WC-20-73 intersected 27.0 g/t Au over 1.0 m (235.5 to 236.5 m)
WC-20-91 intersected 14.0 g/t Au over 1.5 m (119 to 120.5 m)
*Holes 65, 67, 68 and 69, (Figure 1) provide support for the East Pit area definition drilling. Holes and intercepts to the south; including 66, 70, 71, 73 and 91, are part of a previously untested mineralized area located south of the East Pit. Additional drilling is planned in this newly emerging southern area.
Highlights from New Zone #9:
WC-21-116 intersected 3.52 g/t Au over 7.0 m (69 to 76 m), including 6.26 g/t Au over 2.0 m.
WC-21-117 intersected 1.37 g/t Au over 17.5 m (67.5 to 85 m), including 2.49 g/t Au over 5.0 m.
WC-21-099 intersected 1.63 g/t Au over 7.0 m (94.5 to 101.5 m), including 4.09 g/t Au over 2.0 m.
*Holes 116, 117 and 99, (Figures 1 and 2) help define the near surface eastern edge of Zone #9 at potential open pit depths.
Highlights from the Gap Area:
WC-20-58 intersected 9.82 g/t Au over 1.5 m (244.5 to 246 m)
WC-20-61 intersected 5.05 g/t Au over 0.65 m (174 to 174.65 m); and 9.98 g/t Au over 1.5 m (209.5 to 211 m)
Read & view useful graphics at:
https://resourceworld.com/galleon-gold-38000-meters-completed-and-the-drills-keep-turning/
Galleon Gold - 38,000 Meters Completed and the Drills Keep Turning
March 2, 2021
[[ From Resource World ]]
Results include multiple intercepts ranging from 5 g/t Au to 27 g/t Au
Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to provide an update on the ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. The Company has completed 38,000 meters of drilling in 177 core holes and continues to return excellent drill results from across the project area.
Highlights from Central East Pit and the newly expanding area southward:
- WC-20-65 intersected
7.33 g/t Au over 1.5 m (103.5 to 105 m)
5.22 g/t Au over 1.5 m (244.5 to 246 m)
5.94 g/t Au over 1.0 m (270 to 271 m)
- WC-20-66 intersected 6.68 g/t Au over 1.5 m (409.5 to 411 m)
- WC-20-67 intersected 7.9 g/t Au over 1.0 m (130 to 131 m)
- WC-20-68 intersected
7.4 g/t Au over 1.0 m (175 to 176 m)
7.2 g/t Au over 1.0 m (315 to 316 m)
9.2 g/t Au over 1.0 m (322 to 323 m)
- WC-20-69 intersected 9.82 g/t Au over 1.5 m (252 to 253.5 m)
- WC-20-70 intersected 13.6 g/t Au over 1.0 m (216 to 217 m)
- WC-20-71 intersected 12.6 g/t Au over 1.5 m (174 to 175.5 m)
- WC-20-73 intersected 27.0 g/t Au over 1.0 m (235.5 to 236.5 m)
- WC-20-91 intersected 14.0 g/t Au over 1.5 m (119 to 120.5 m)
*Holes 65, 67, 68 and 69, (Figure 1) provide support for the East Pit area definition drilling. Holes and intercepts to the south; including 66, 70, 71, 73 and 91, are part of a previously untested mineralized area located south of the East Pit. Additional drilling is planned in this newly emerging southern area.
Highlights from New Zone #9:
WC-21-116 intersected 3.52 g/t Au over 7.0 m (69 to 76 m), including 6.26 g/t Au over 2.0 m.
WC-21-117 intersected 1.37 g/t Au over 17.5 m (67.5 to 85 m), including 2.49 g/t Au over 5.0 m.
WC-21-099 intersected 1.63 g/t Au over 7.0 m (94.5 to 101.5 m), including 4.09 g/t Au over 2.0 m.
*Holes 116, 117 and 99, (Figures 1 and 2) help define the near surface eastern edge of Zone #9 at potential open pit depths.
Highlights from the Gap Area:
WC-20-58 intersected 9.82 g/t Au over 1.5 m (244.5 to 246 m)
WC-20-61 intersected 5.05 g/t Au over 0.65 m (174 to 174.65 m); and 9.98 g/t Au over 1.5 m (209.5 to 211 m)
Read at:
https://resourceworld.com/galleon-gold-38000-meters-completed-and-the-drills-keep-turning/
Galleon Gold - Still in the Zone - Results include 11.25 g/t over 6.0 meters
Resource World Magazine - February 16, 2021
Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) announces additional results from its ongoing drill program at its 100% owned West Cache Gold Project, Timmins, Ontario. In addition, the Company is pleased to share core photos showing visible gold in a recently completed drill hole.
- WC-21-115 intersected 11.25 g/t Au over 6.0 meters (75 to 81 m), including 15.84 g/t over 4.0 m. The true thickness of these intervals is estimated at 96.6% of the intercept length resulting in 5.8 and 3.8 meter intervals respectively
- Visible Gold (“VG”) has been encountered in hole WC-21-142 close to the bedrock surface (85m)
Results from core hole 115 are important as they highlight strong results much closer to the top of bedrock and well up-dip from some of the better results obtained to date. Adjacent drillholes could provide additional intercepts once assays have been received.
VG Encountered in Hole 142
Based on the success of intersecting Zone #9 in recent shallow angle drillholes, the Company is currently drilling a fence of similar angle holes along strike to the west. Hole 142, the sixth hole in this sequence of 10 holes, has encountered visible gold in a quartz vein at 85 meters. Importantly, this intercept is considered a step-out into an area with limited historic information and extends the prospective potential of Zone #9 further to the west.
Read more & view graphics & tables at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=668
I wonder when things will com alive on the Chester property https://galleongold.com/projects/other-properties/new-brunswick-mining-properties/chester-copper-deposit/
Galleon Gold Initiates Survey to Convert Claims to Mining Lease Status
Feb 8, 2021
Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is pleased to report that it has received instructions from the Office of the Surveyor General (the “Surveyor General”) with respect to requirements for a Perimeter Survey at its 100% owned West Cache Gold Project, Timmins, Ontario (“West Cache” or the “Project”). The Surveyor General overseas all Ontario Crown land surveys; a land survey is required before Provincial mining claims can be converted to a land lease. While a company may explore and drill on mining claims, the claims must be converted to a lease before mining activities, such as infrastructure development and ore extraction, can commence. Receiving these instructions is a crucial step in the development of West Cache from an exploration and development project to a producing mine.
Read more & view graphics at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=647
If it's a buy out like GGO did with Explor than no thanks
Galleon Gold’s West Cache Gold Project Shines in Timmins Results include 7.66 g/t Au over 10.0 meters
January 26, 2021
Galleon Gold Corp. (TSXV: GGO) (the "Company" or "Galleon Gold") is pleased to announce additional high-grade Zone #9 intercepts at its 100% owned West Cache Gold Project, Timmins, Ontario.
Highlights
• WC-20-097 intersected 7.66 g/t Au over 10.0 m, from 224 to 234 m including a sub-interval of 21.89 g/t Au over 2.0 m
• WC-20-095 intersected 3.24 g/t Au over 9.0 m, from 290 to 299 m including a sub-interval of 9.47 g/t Au over 2.0 m
“We are pleased to see that the widths of the Zone #9 intercepts continue to consistently vary between 8 and 12 meters as we test the orientation of the Zone #9 mineralized shoot. We also benefit from the distinct nature of the sulfide mineralization as it enables us to visually identify Zone #9 in real time, which aids drill hole planning as we wait for final assays,†comments R. David Russell CEO and President of Galleon Gold.
Read more w/tables, map, picture at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=629
Should be seeing some upward movement here
Here's an interview from 2013 when the Company was a different company and officially orientated towards nickel. Not sure if these two execs are still at the Company. And many things have changed since then including a relationship with a Japanese concern that is no longer.
Thanks Dutch, This is a nice little Christmas present.
Galleon Gold Initiates Baseline and Permitting Programs at West Cache Gold
https://galleongold.com/site/assets/files/3846/galleon_gold_initiates_baseline_and_permitting_f.pdf
I suppose they're drilling in hars wintertimes too?
Galleon Gold Adds Second Drill Rig at West Cache Gold Project and Commences Phase Two Drill Program
Resource World - November 16, 2020
[[ WOW in the tabloids now! ]]
Galleon Gold Corp. [TSXV: GGO] (the “Company” or “Galleon Gold”) is pleased to report it has added a second drill rig to its ongoing drill program at the Company’s 100%-owned West Cache Gold Project, Timmins, Ontario. The Company has completed 15,000 meters of its initial infill core drilling program and has commenced a Phase Two drilling program for an additional 15,000 meters. The current two drill program is fully funded from the oversubscribed financing of $8.0 million completed on October 14, 2020. Drilling is expected to continue through 2021.
With two drill rigs concurrently operating, the Phase Two drill program will include one drill focused on the newly discovered high-grade gold Zone #9 and the other drill will continue to infill drill the mineable open pit and underground areas previously identified. Once the infill drilling has been completed, both drills will be core drilling exclusively on Zone #9.
The Company plans to initiate the transfer of the drill hole database and assays to P & E Mining Consultants Inc. in January and February 2021 in preparation for Preliminary Economic Assessment (“PEA”) work. Modeling of the West Cache Gold open pit and underground workings, as well as an estimation of a new gold resource with projected economics will be developed. The PEA is targeted to be published by early April 2021.
Read more & view graphics at:
https://resourceworld.com/?na=v&nk=6621-741adf496e&id=539
At first sight results are similar as in the Explor days
Galleon Gold Expands High Grade Discovery Zone - Results include 5.87 g/t gold over 8.5 meters
TORONTO: November 10, 2020. Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) reports continued expansion of the recently discovered Zone #9 high-grade gold system on its 100% owned West Cache Gold Project, Timmins, Ontario.
- WC-20-31 intersected 5.87 g/t Au over 8.5 m, from 274.5 to 283 m including a sub-interval of 2.0 m at 10.1g/t Au.
- WC-20-53 intersected 3.06 g/t Au over 8.0 m, from 148 to 156 m including a sub-interval of 1.0 m at 7.53 g/t Au.
- WC-20-54 intersected 2.63 g/t Au over 8.0 m, from 190 to 198 m including a sub-interval of 2.0 m at 4.64 g/t Au.
Galleon Gold President and CEO, R. David Russell, comments, “It is very exciting to see the drilling and assay data confirming and infilling the minable open pit structures as expected. The latest excitement and news at the West Cache Gold project has been the continued expansion of the sediment hosted gold target called Zone #9 - a gold zone notable for its thickness, grade, and proximity to the surface. Although we are still working with limited drill and assay data, this zone could have a very positive impact on the project economics in the upcoming PEA. As we conclude the 15,000 meter infill drill program originally planned when we commenced drilling in July, our focus will shift to drillhole definition of Zone #9. We plan on drilling off as much of this newer trend as possible by early 2021, while targeting potential new shoots along strike.”
Read more and view graphics at:
https://galleongold.com/news/galleon-gold-expands-high-grade-discovery-zone-results-include-5.87-g-t-gold-over-8.5-meters/
With Explor Resources it was common that during winter time there was not much action. Now I'm not sure
Is Galleon done for the winter? Been watching for a long while. Although Eric S just picked up a large interest, maybe wait awhile longer for better entry price?
That is probably because it's a Canadian company.
Plenty to find about Sprott on the company website
https://galleongold.com/news/galleon-gold-announces-c-1.0m-commitment-by-eric-sprott-and-revises-terms-of-private-placement/
https://galleongold.com/news/galleon-gold-closes-oversubscribed-c-8.0-million-brokered-private-placement-including-a-lead-order-from-eric-sprott/
I couldn’t actually find the 13f indicating that Sprott of actually holds interest in this company
Galleon Gold Closes Oversubscribed C$8.0 Million Brokered Private Placement, including a Lead Order from Eric Sprott
https://galleongold.com/news/galleon-gold-closes-oversubscribed-c-8.0-million-brokered-private-placement-including-a-lead-order-from-eric-sprott/
Galleon Gold Corp. (the “Company”) (TSX-V:GGO) is pleased to announce that it has closed its previously announced brokered private placement (the “Offering”). The Offering was oversubscribed for gross proceeds of C$8.0 million and consisted of the sale of the following:
28,870,667 units of the Company (the “Units”) at a price of C$0.12 per Unit;
10,402,987 flow-through units of the Company (the “FT Units”) at a price of C$0.135 per FT Unit; and
18,418,333 FT Units sold to charitable flow-through purchasers at a price of C$0.17 per FT Unit.
The Offering was completed by a syndicate of agents led by Red Cloud Securities Inc. and included Cormark Securities Inc. (the “Agents”).
Each Unit issued pursuant to the Offering consists of one common share in the capital of the Company and one common share purchase warrant (each, a “Warrant”). Each FT Unit consists of one flow-through common share of the Company and one Warrant. Each Warrant shall entitle the holder to purchase one additional common share at a price of C$0.18 at any time on or before the date which is 36 months after the closing date of the Offering.
The net proceeds from the sale of the Units will be used for exploration and general working capital purposes. The proceeds from the sale of the flow-through shares will be used for “Canadian exploration expenses” and will qualify as “flow-through mining expenditures” (the “Qualifying Expenditures”), as defined in subsection 127(9) of the Income Tax Act (Canada). The Company intends to renounce the Qualifying Expenditures to subscribers of flow-through shares for the fiscal year ended December 31, 2020.
Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 15,000,000 Units for C$1.8 million under the Offering. After the closing of the Offering, Mr. Sprott now beneficially owns or controls 106,248,950 common shares and 25,000,000 common share purchase warrants representing approximately 22.9% on a non-diluted basis and 26.8% on a partially diluted basis assuming exercise of all such warrants. This, together with intervening treasury issuances of common shares, results in a decrease in holdings of approximately 4.1% of the outstanding common shares on a partially diluted basis from what was reported in the most recent early warning report. Prior to the Offering, Mr. Sprott beneficially owned and controlled 91,248,950 common shares and 10,000,000 common share purchase warrants, representing approximately 22.5% on a non-diluted basis and 24.3% on a partially diluted basis.
The Units were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Galleon Gold including on the open market or through private acquisitions or sell securities of Galleon Gold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of Sprott’s early warning report will appear on Galleon Gold profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
Certain insiders, directors and officers of the Company, including Mr. Sprott, subscribed for an aggregate of 15,000,000 Units under the Offering on the same terms as arm’s length investors. The participation of the insiders, directors and officers in the Offering constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5 (a) and 5.7 (1) (a) of MI 61-101, as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued exceeds 25% of the Company’s market capitalization as calculated in accordance with MI 61-101. The Company did not file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the Offering as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible.
In connection with the Offering, the Agents received a cash commission of C$458,779 and 3,284,679 non-transferable Agent Compensation Options, each entitling the Agents to purchase one Unit of the Company at a price of C$0.12 per Unit until October 14, 2022. In addition, the Agents received an advisory fee of C$15,221 and 126,840 non-transferable advisor warrants, each entitling the Agents to purchase one Unit of the Company at a price of C$0.12 per Unit until October 14, 2022.
All of the securities issued under the Offering will be subject to a hold period of four months and one day from the closing of the Offering in accordance with applicable securities laws.
The shares can't be traded until Nov 14, 2020. good chance we will see a drop in the share price before, on, or after that date if the party wants to unload his shares.
Can anyone explain what this means?
Mainly the November 14 part.
Galleon Gold Closes Shares for Debt Settlement
Newsfile Corp.
Newsfile Corp
Toronto, Ontario--(Newsfile Corp. - July 13, 2020) - Galleon Gold Corp. (TSXV: GGO) (the "Company" or "Galleon Gold") announces it has closed the previously announced debt settlement for services rendered to Explor Resources Inc. (the "Debt Settlement") (see press release dated July 6, 2020). Under terms of the Debt Settlement the Company and service provider have come to terms with respect to a contract dispute and monies owed by Explor Resources prior to its amalgamation with Galleon Gold. The Company has issued 4,500,000 common shares to the service provider to settle all claims, demands and future actions. The securities issued pursuant to the Debt Settlement will be subject to a four-month hold period ending November 14, 2020.
Thanks for that link. A very useful article.
I do believe people following Eric Sprott company's
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