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Nevada Gold Holdings Inc. Secures $3.425 Million of New Financing with a Strategic Partner in China
Released: 11/12/10 09:00 AM EST
Nevada Gold Holdings, Inc. (OTCBB: NGHI), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, announced today that the Company has secured $3.425 million in equity financing through private transactions with accredited investors, the lead investor being Far East Golden Resources Investment Ltd., the Company’s new strategic partner, which has extensive mining experience operating gold mines in China.
The financing will enable the Company to continue its gold exploration on its Tempo prospect, located within the north-south trending Rabbit Creek Gold Trend, a prolific Nevada gold belt containing at least 80 million known ounces of gold. The Company has identified, permitted and bonded 13 drill sites on 3 of the 4 targets that have been identified by the Company’s exploration program and is in the process of locating a drilling contractor.
"Given the robust gold price performance, we intend to help Nevada Gold finance mining operations to maximize shareholder value, if and when the drilling results in significant discovery of gold that justifies such investments," commented Charles Huang, Chairman of Far East Golden Resources.
“This successful financing demonstrates the confidence that our investors have in our Company, our exploration team and the potential of discovering multiple world-class deposits on the Tempo property,” said CEO David Rector. "We are now fully funded for our Tempo exploration program. In addition, we are aggressively pursuing acquisition opportunities for additional high-potential properties.”
About Nevada Gold Holdings, Inc.
Headquartered in Walnut Creek, CA, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company’s experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles northwest of Austin, Nevada. Tempo consists of 206 contiguous unpatented lode claims, totaling about 4000 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company’s current plan is to explore for gold at Tempo and to acquire future exploration prospects, and ultimately to develop Nevada Gold Holdings into a successful exploration company.
More information about the Company may be found at: www.nevadagoldholdings.com
Interesting, keep me up to speed on any new developments, we love gold!!
I think the big idea is that they need to actually find some gold at this point. Dave M. seems to be the best in the business.
No yet, small RS imo to move up, for what not sure!!
Do you have any opinion on this stock? I've been watching it for about 1 yr. and I was wondering about this RS.
NGHI 8k 1:15 RS
An amendment to the Company’s Certificate of Incorporation to effect a one-for-fifteen (1:15) reverse stock split of the Company’s common stock, $0.001 par value per share; and
http://pro.edgar-online.com/displayfilinginfo.aspx?type=html&filingid=7464215&TabIndex=2&companyid=716906&ppu=%2fExpandedSearch.aspx%3fsite%3d0acade95-c20b-4c47-bebb-1dca89f15ab1%26amp%3bsearchid%3d42341988
No im sorry dont know .....
Do you have any opinion on the 2m+ volume from out of no where?
This will not have gone unnoticed! so let's see what tomorrow brings and into next week.
Kiwi
yes thank you looking very good .....
Outsiders dont know what the company is going .... thats why we have ihub ... good luck HMIT holders ...
This company does not have funds, hope they will find private investors, but they are not doing much........
lets see if it holds here .... NGHI
With gold prices increasing and 52 week low in mid March NGHI deserves to be on watch!!
Great Geologist, Hopefully they are able to find a new carlin here definitely worth a shot at a total valuation of just $5,000,000. What do you guys think?
The company announced today that they have secured $3.2 milion in financing to continue drilling.
The property that forms the foundation of Nevada Gold Holdings is one of the best exploration properties Dave believes that he has seen. He believes the property is capable of finding a world class deposit in the 5 million ounce range .... Cool ....
Looking at .12 and .15 when gold goes back up ....
Dave Mathewson as CEO, President and Chief Geologist .... very nice ....
Adding ...... could be a bottom .....
moved on tech imo, pincher play
naahhhh i still watch this one....really waiting on the sidelines until we get closer to spring.....
a little curious why this showed movement as well
Probably typing to myself in here, but unusual activity with this stock today......wondering if there is some upcoming PR....
I am new to penny stocks and gold companies so I am not the best person to ask for advice. I think I landed on this stock because there was some hype spreading around and I bought into it.
They will not start their second test drill until the Spring due to the weather. This is from one of their PR's:
To date, the Company has drilled three holes with total depths (TD) of 1,280 feet, 1,330 feet and 1,140 feet. These holes were selected as the first holes to be drilled for the first phase of the drilling program based on elevation in case of winter weather arriving early. The samples have been sent for analysis and the assay results from the holes will be evaluated by the Company to determine the second phase of the drilling program next spring.
Without any updates until the spring, this stock will continue to fall. I bought in back in Sept when it was at 0.19. If I were you, I would not buy anymore at this time. Just look at the history of the chart. This will continue to fall. It should be in subpenny land very soon. Buy just before spring and hopefully before they release their next PR and you might stand a chance for profit.
I invested way too early. Even with good news, it will never make its way back up to where I initially invested. I only invested 90 bucks, but I still don't like to see money disappear.
I am not familiar with history of the company or its share structure. I saw there was a forward split 2:1 in May of 2009.
I wish you the best of luck.
I'm new to this stock...please explain to me why they won't be starting to work until spring? If this is a stupid question please forgive me I don't normally invest in this type of company...I'm more into Biotecs...my holding are very little at this point but if it does move to sub penny I'll increase my holdings.
Does this company have a history of reverse splits?
I'm worried that by the time they start working, they will be in subpenny range, and if they have good findings, it will return back to 10 cents.
It will be the new investors that buy down the road that will profit and the people like me who bought early will be praying for a big find just to break even.......
I bought it based primarily on location and they have a great CEO. Happy Holidays!
The second phase won't start until Spring, so I guess I can see why there isn't much action here yet. I just hope we are not in subpennies by then.......
Article Dated December 17th 2009
Nevada Gold Holdings Inc. Provides Drilling Update at Tempo
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Nevada Gold Holdings, Inc. ("the Company") (OTCBB: NGHI), a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, announced today a drilling update on its Tempo prospect. To date, the Company has drilled three holes with total depths (TD) of 1,280 feet, 1,330 feet and 1,140 feet. These holes were selected as the first holes to be drilled for the first phase of the drilling program based on elevation in case of winter weather arriving early. The samples have been sent for analysis and the assay results from the holes will be evaluated by the Company to determine the second phase of the drilling program next spring.
“We are excited to have started our drilling project. The region we are in is right along the Rabbit Creek Gold Trend, known for many gold discoveries, and we believe that the program we have in place will determine the boundaries of what we hope to be a major discovery.”
CEO David Rector commented, “We are excited to have started our drilling project. The region we are in is right along the Rabbit Creek Gold Trend, known for many gold discoveries, and we believe that the program we have in place will determine the boundaries of what we hope to be a major discovery.”
The Company controls 206 contiguous lode mining claims, totaling approximately 4,000 acres, in the Tempo property, located on the southern extension of the north-south trending Rabbit Creek Gold Trend, a prolific Nevada gold belt containing at least 80 million known ounces of gold. The land position effectively controls an entire district-scale exploration opportunity with all the ingredients that could indicate several large, 1 million-ounce +, deposit discoveries.
About Nevada Gold Holdings, Inc.
Headquartered in Walnut Creek, CA, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company’s experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles northwest of Austin, Nevada. Tempo consists of 206 contiguous unpatented lode claims, totaling about 4000 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company’s current plan is to explore for gold at Tempo and to acquire future exploration prospects, and ultimately to develop Nevada Gold Holdings into a successful exploration company.
More information about the Company may be found at: www.nevadagoldholdings.com
Forward-Looking Statements
Certain statements in this press release that are not historical facts are "forward-looking statements." Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital to fund its current and proposed planning, exploratory, and drilling activities; (ii) the risk that a commercially exploitable gold deposit will not be found on the Company’s property; (iii) the Company’s ability to locate and acquire future exploration prospects; (iv) the Company’s ability to attract and retain qualified professionals; (v) the price of gold on the world markets; (vi) competitive factors and developments beyond the Company's control; and (viii) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
what was the PR?
They release PR on the update for drilling results and no comments on the board......this is not good. Not good at all.........
Is this an overpriced sub-penny stock? PR has no effect; it just continues to drop.
This stock is continuing to drop each day....Is it over valued?
Looking real good for a gold play bottom play. Float size??
#
stimated Market Cap
$8,450,826 as of Nov 20, 2009
#
Outstanding Shares
72,851,946 as of May 13, 2009
#
Number of Shareholders of Record
40 as of Apr 7, 2008
365,622 Volume at Open.....WOW, I am psyched :D
After Reviewing the Trade(s), it appears we have more sellers than buyers......Hopefully this will turn around once drill results are announced
Yes I most definitely have to agree, and it appears others are quite pleased with the announcement....the volume has dramatically increased.....
Test drilling has commenced! Let's keep our fingers crossed.
Yeah, this stock has been trickling down slowly. I'm hoping that this announcement of test drilling that has commenced will increase speculation and interest in the company.
Hopefully we will get some news on the Drilling Results shortly
GLTA.
I dont have much I was buying a few others I liked. I cant build big positions in all of them . Good luck
James !! Every time I get to a new pick you've already been here !!!!! LOl !!!! Whats you take on this one???? Seems to be ready????? IMO
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Nevada Gold Holdings Inc.
Nevada – Favorable to Gold Mining and Investors in Nevada Gold Holdings
Nevada Gold Holding's focus is on gold exploration in Nevada – a world-famous and mining-friendly state. In 2005, approximately 7 million ounces of gold were produced in Nevada, placing Nevada third behind politically unstable South Africa, and Australia. Nevada produces 75% of the US gold production and 10% of the annual global take. The state is home to some of the largest known gold deposits on earth.
Over the last two decades, the development and expansion of mines such as Goldstrike/Betze-Post, Meikle, Pipeline, Round Mountain, Twin Creeks and Gold Quarry have proven Nevada is a key global gold producer. The infrastructure in Nevada for recovery of gold from a variety of ore types has dramatically improved with increased capital investment by major mining companies and global investors.
Dave Mathewson has built his entire career on prospecting, exploring and developing world class gold deposits in Nevada. He has spent more than 35 years in the state analyzing all of the different opportunities. Dave has personally identified several gold deposits containing a composite of more than 5 million ounces and managed Newmont Mining's Great Basin and Carlin Trend exploration programs that were responsible for discovering and significantly expanding several additional gold deposits.
Throughout his successful career, Dave has been constantly on the lookout for high potential gold exploration properties. The property that forms the foundation of Nevada Gold Holdings is one of the best exploration properties Dave believes that he has seen. He believes the property is capable of finding a world class deposit in the 5 million ounce range
FERNLEY, Nev., May 15, 2009 (BUSINESS WIRE) -- Nevada Gold Holdings, Inc. (OTCBB: NGHI), a mineral exploration company that focuses exclusively on identifying and developing large-scale gold deposits in Nevada, has commenced trading as a public company on the Nasdaq Over-The-Counter Bulletin Board under the symbol "NGHI".
"This is an exciting time for us, and we are pleased to have Nevada Gold Holdings pass this important Company milestone. The public markets will provide additional exposure for the Company to both institutional and retail investors that are looking for high quality exploration opportunities focused in Nevada," commented Dave Mathewson, President and Chief Geologist of Nevada Gold Holdings, Inc. "Investors can keep abreast of our developments through our corporate website and public filings."
About Nevada Gold Holdings, Inc.
Headquartered in Fernley, NV, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company's experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles north of Austin, Nevada. Tempo consists of 146 contiguous unpatented lode claims, totaling 2,920 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company's current plan is to explore for gold at Tempo and to acquire future exploration prospects, an ultimately to develop Nevada Gold Holdings into a successful exploration company.
Approximately 160 holes previously drilled within property Property originally identified and staked as a gold prospect by well-known, successful Nevada prospector, Lyle Campbell, in 1968
146 contiguous unpatented lode claims, approx. 2920 acres, 4.6 square miles, controls numerous indicated district-scale target opportunities
Tempo prospect is located on the southern portion of the north-south trending Rabbit Creek Gold Trend, a prolific gold belt containing at least 50 million known ounces of gold
Approximately 160 holes previously drilled within property
Abundant data generated by several previous companies, data include:
Target Explanations
http://www.nevadagoldholdings.com/presentations/NevadaGoldHoldings_Presentation.pdf
David Mathewson and a jasperoid zone
The southern gold target
zone
The Maloy dump (quartz
vein with 5-6ppm gold
and copper)
Dave Mathewson is well known in the Nevada gold community. He has been an exploration geologist for over 35 years and has spent the last 20 years focusing in Nevada. Mr. Mathewson is one of a handful of successful geologists in Nevada who has consistently found large commercial gold discoveries. One of his biggest successes was as head of Newmont Mining's Great Basin and Carlin Trend exploration programs. During a 12-year period of time with Newmont, Mr. Mathewson and his teams were directly responsible for the discovery and expansion of more than 25 million ounces of gold. Prior to Nevada Gold, his junior public company experience was as Head Geologist and Vice President of Exploration with Tone Resources, which traded on the Toronto Venture Exchange and was acquired by US Gold (NYSE: UXG).
Mr. Mathewson has often made contrarian bets based on his vast knowledge of North Central Nevada geology and gone against popular belief to explore where no one else has been interested. Such risks have paid off greatly during his career. Mr. Mathewson discovered approximately five million ounces of gold in the Rain district of Nevada among four separate deposits. Mr. Mathewson also led Newmont's Great Basin exploration team which was responsible for the discovery of the three to five million ounce Peninsula gold-bearing gravel deposit south of Battle Mountain. As Manager of Exploration for Newmont on the Carlin Trend, the exploration team discovered significant extensions of gold mineralization at Newmont's Gold Quarry mine and Mike deposit, comprising an additional probable 10 to 15 million ounces. During his tenure with Newmont Mining, Mr. Mathewson was involved with and drove the process of numerous acquisitions, many of which led later to discovery of gold deposits.
"I am very excited to take on this endeavor," said Mr. Mathewson. "My goal is to build a portfolio of exploration properties with world class gold deposits, developing the Company into a prestigious exploration company. I believe these efforts will enhance value for our shareholders."
Carl Pescio of Allied Nevada Gold (NYSE: ANV) has personally known Dave Mathewson for many years. The two have collaborated together on various projects in the past. Mr. Pescio said, "I hold Dave's geological capabilities in high regard, and I believe Dave Mathewson is one of the best geologists an exploration company can have for Nevada."
About Nevada Gold Holdings, Inc.
Headquartered in Fernley, NV, Nevada Gold Holdings, Inc. engages in the acquisition, exploration, and development of gold properties. The Company's experienced management seeks to identify world class gold deposits by applying advanced geological and geophysical methods to high potential exploration properties located in the productive gold mining regions of Nevada. The Company currently holds a lease on one property, the Tempo prospect, located approximately 20 miles north of Austin, Nevada. Tempo consists of 146 contiguous unpatented lode claims, totaling 2,920 acres, and is located within the north-south trending Rabbit Creek Gold Trend. The Company's current plan is to explore for gold at Tempo and to acquire future exploration prospects, and ultimately to develop Nevada Gold Holdings into a successful exploration company.
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