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Wescan Energy closes $200,000 private placement
2021-03-15 12:10 MT - News Release
Mr. Greg Busby reports
WESCAN ENERGY ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Wescan Energy Corp. has closed it previously announced non-brokered private placement of 4,000,000 common shares of the Corporation ("Common Shares") at a subscription price of $0.05 per Common Share for gross proceeds of $200,000 (the "Offering"). The Common Shares are subject to a four month hold from the date of issuance, expiring July 16, 2021. No commissions or finders fees were paid pursuant to the Offering.
Proceeds from the Offering will be used for the further development and workovers of certain wells located at the Company's core area in Provost, Alberta and general working capital purposes. The Company will also be reviewing well optimization projects including pipeline integrity schemes to provide additional production from certain wells that require workovers. The Offering is considered to be a "related party transaction" pursuant to Multilateral Instrument 61-101 as several insiders will be subscribing for shares pursuant to the Offering, but the Company is availing itself of the exemptions from obtaining a formal valuation and obtaining "majority of the minority" approval due to the exemptions available in Sections 5.5(a) and 5.7(1)(a) of said instrument. In addition, one of the subscribers will hold over 20% of the issued and outstanding Common Shares following the closing of the Offering but will not be a "control person" as such term is defined in the policies of the TSX Venture Exchange as there are several other large block shareholders of the Company and this shareholder is not part of management and has no special or superior rights over other shareholders.
We seek Safe Harbor.
Wescan will be picking up momentum pretty quick here as the company is starting to grow again. WTI hit $66 today and their production costs over the last several quarters range from $29-36 per barrel. So almost doubling at the moment.
WCE oil and gas reserves are nearly half a million barrels as well, mostly light oil. With workovers being done, a $200K placement at 5 cents ready to close and positive cash flow building, stock is looking good. Tight float of only 31.4 million shares and because it's coming off a multi year low, investors realize that most older shareholders in Wescan have higher costs. There's also some drilling locations which could be a game changer for the company.
Well report with production costs from the 51-101: https://cdn-ceo-ca.s3.amazonaws.com/1g3vtib-WCE%20Producing%20Wells.jpg
51-101 Reserve report: https://cdn-ceo-ca.s3.amazonaws.com/1g3vthi-WCE%20Reserves%20%26%20Cost%20Of%20Production.jpg
PGOL put out another monthly report yesterday on the CSE. Looks like we are waiting on both Rainbow and Windy Peak assay results now. The fact that the company mentions additional work is being done on both properties tells me that drill results must of looked good from a mineralization standpoint? Otherwise why continue working on the two projects right away. But also past results have indicated that Windy Peak has some good gold potential. Rainbow we aren't sure just yet because drilling hasn't happened on that lease. Because Nevada is the hottest spot in the world for mining at the moment, it's a doubled edged sword. Patriot's assets are more sought after, but getting simple things done like hiring a drill crew or getting assays completed will take much longer. Then we have year end results out at the end of March, which we already know will be good because is a royalty is pretty simple to calculate. Then Q1 results will be out in May, again we know it's good because all you have to do is take 3% of whatever Nothern Vertex's revenue is for their quater and voila.
March CSE Update Link: https://webfiles.thecse.com/0321_CSE_Form_7_-_Monthly_Progress_Report.docx?bAqDg2RQ_ZvuuCdUq2CZoQyBb7Z14S73
Report on Business
1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.
Patriot is awaiting assay results from drilling programs on its Windy Peak and Rainbow Mountain projects.
2. Provide a general overview and discussion of the activities of management.
We are continuing to conduct exploration on our Rainbow Mountain and Windy Peak projects, and are vetting potential projects.
PGOL does not mine Moss in Arizona, that is done by Northern Vertex, another public company. PGOL gets 3% of their revenue until the mine is exhausted, which is a minimum 8-9 years right now. But Nothern Vertex is increasing it's resource, so PGOL could potentially get 15-20 years of payouts from just one royalty. Then they own another royalty on a proven gold deposit in Nevada, along with three gold projects they are currently drilling up.
Symbol: EW.V (Canada) & EWPMF(USA)
Current Price: $0.06CAD & $0.048USD
Shares Outstanding: 89,585,665
Most Recent Financials (Ending December 31st 2020)
Financials
ASSETS
Cash: $5,877,142 – 6.6 cents a share
GST receivable: $7,303
Amounts Receivable: $86,347
Prepaid Expenses: $27,800
Investments: $36,100
Exploration & Evaluation Assets: $1,715,200
Property, Plant & Equipment: $318,147
Total Assets: $8,068,039
LIABILITIES
Accounts Payable: $482,967
Decommissioning: $1,368,938
Total Liabilities: $1,851,905
Quarterly Performance
Revenue: $469,380
Net Income: $89,569 – New Zealand production was down due to workovers. Profit came from one time asset sale of investments.
MD&A Highlights
New Zealand
The Company had previously agreed to sell its interest in PEP 54877 and PMP 60291 which comprise the majority of its New Zealand assets. The agreement was terminated by the Company on August 1, 2020. The Company is currently assessing its go-forward plans, which includes the possible sale of its New Zealand concessions to other buyers and ongoing discussions on the Teremia North Field in Romania, and whether its focus should remain on the oil and gas sector. At this time no decisions have been made but the Company will be assessing alternatives.
PMP 60291 is the location of the Cheal E-Site and the Cheal E-site production facility as well as the Cheal-E wells. A waterflood program is ongoing however the efficacy of the program and its impact on production is an ongoing item of debate. The Company’s technical advisors have stated that there is no unequivocal evidence that water injection through the Cheal-E7 well has had a significant impact on production from PNP 60291 but that there is evidence to the contrary. The Company’s advisors attribute the production performance to other factors than injection through the Cheal-E7 well. The determination whether the waterflood utilizing Cheal-E7 as the injector well is creating the positive response in production impacts the Company’s obligation to fund its 30% share of the costs of acquiring the Cheal-E7 well, being 30% of NZ $3,200,000. No funding will be advances until the issue is resolved.
The Company produces its oil and gas production from five wells on the Cheal-E site. On October 24, 2020 the ChealE1 pump stopped functioning due to downhole blockage and, as a result, production ceased from the Cheal-E1 well. As the major producing well, the stoppage of the Cheal-E1 well has had a major impact on the Company’s share of production for the three months ended December 31. 2020 (“Q3”) on which 5.3 Mbbl oil and 9.4 Mmcf gas was produced, compared to 13.8 Mbbl oil and 21.2 Mmcf gas produced during the three months ended September 30, 2020 (“Q2”), a decrease of 61.5%.
The Operator has managed to pull the rods out of the Cheal-E1 well with a crane, cleaned the well and replaced the pump. However, only limited production resumed in mid-January 2021 without annular flow. A workover of the Cheal-E1 well is planned for mid-May 2021 to restore the well to full production.
Romania
NIS will be funding 100% of the costs and fully carrying the Company through the commitment work programs in each of the blocks in return for earning an 85% interest in each licence. There have been several meetings of both the technical and operating committees to discuss work program results and determine whether the Teremia North field is a commercial discovery. Declaration of a commercial discovery will result in the Company being responsible for 15% of the development costs. At the operating committee meeting held February 8, 2021 NIS voted that there was a commercial discovery at Teremia North whereas the Company voted that there was not a commercial discovery. The field economics were, in the Company’s assessment, marginal and did not merit the significant capital contributions required. NIS, being a vertically integrated oil and gas producer, could support the development costs given the internal economies available. NIS has since advised that it will be proceeding with the development plans for Teremia North on an exclusive basis. There is some uncertainty as to whether the proposed development can be conducted as an exclusive operation and the Company is assessing what options are available and is in discussions with NIS in regard to such matters.
Given the project economics, the return on investment and the net present value the Company cannot justify contributing its 15% share of the estimated US $50,000,000 development costs. In the event NIS proceeds on an exclusive basis the Company will have no interest in the development lands that make up the Teremia North field. The Company will retain its carried interest in the balance of the exploration blocks.
Investments
On April 17, 2020 Orocobre Limited (“Orocobre”) completed the acquisition of 100% of the issued and outstanding common shares of Advantage Lithium Corp. (“Advantage Lithium”) in exchange for 0.142 ordinary shares of Orocobre per Advantage Lithium share. Accordingly, the Company received 244,098 shares of Orocobre for the 1,719,000 Advantage Lithium shares held by the Company for a fair value of $463,786, resulting in an initial loss on the disposition of $603,800. The Company subsequently sold all its common shares of Orocobre for proceeds of $885,356 resulting in a subsequent gain on sale of $421,569. In May 2020 Seaway Energy Services Inc. (“Seaway”) completed a consolidation of its share capital on a basis of, one new for every 2.5 old common shares and, on May 22, 2020, completed a reverse takeover transaction to form Sweet Earth Holdings Inc (“Sweet Earth”) resulting in the Company holding 204,960 Sweet Earth shares. The Company has subsequently sold 14,960 common shares of Sweet Earth for proceeds of $3,335 resulting in a loss on the sale of $30,191. As at December 31, 2020 the Company held 190,000 common shares of Sweet Earth with a total quoted value of $36,100.
Outstanding Share Data
The Company’s authorized share capital is unlimited common shares with no par value. As at February 26, 2021 there were 89,585,665 outstanding common shares and 5,455,000 share options outstanding with exercise prices ranging from $0.06 to $0.135 per share.
East West talks Romania operations
2021-02-26 07:52 MT - News Release
An anonymous director reports
EAST WEST PETROLEUM PROVIDES OPERATIONAL UPDATE FOR ROMANIA
East West Petroleum Corp. has provided the following operational update for Romania.
As previously reported, the Company's joint venture partner and operator, NIS Petrol ("NIS"), subsidiary of NIS a.d., suspended all operational activities on March 25th 2020 when a national lockdown was declared in Romania. All exploration operations have been on hold since that time.
In the latter part of 2020, NIS evaluated development options for the Teremia North oil discovery.
An Operating Committee Meeting was held on February 8th, 2021 where NIS voted that there was a commercial discovery at Teremia North whereas the Company voted that there was not a commercial discovery. The field economics were, in the Company's assessment, marginal and did not merit the significant capital contributions required. NIS a.d., being a vertically integrated oil and gas producer, could support the development costs given the internal economies available. NIS has since advised that it will be proceeding with the development plans for Teremia North oil accumulation on an exclusive basis. There is some uncertainty as to whether the proposed development can be conducted as an exclusive operation and the Company is assessing what options are available and is in discussions with NIS in regard to such matters.
With respect to future exploration in the four Romanian blocks, NIS has to date drilled five out of a total farmin commitment of twelve exploration wells. Although operations have been suspended due to the Covid-19 situation, NIS Petrol is committed to fulfilling the commitment work programs in all blocks, considering certain legislative changes and being granted appropriate licence extensions.
NIS will be funding 100% of the costs and fully carrying East West through the commitment work programs in each of the blocks in return for earning an 85% interest in each licence.
About East West Petroleum Corp.
East West Petroleum Corp. is a TSX Venture Exchange listed company established in 2010 to invest in international oil & gas opportunities. The Company has its primary focus on two key areas: New Zealand, where it has established production and cash flow and Romania where it is carried to production on an exploration program. In Romania the Company has exploration rights in four exploration concessions covering 1,000,000 acres in the prolific Pannonian Basin of western Romania with Naftna Industrija Srbije ("NIS").
KFG enters definitive deal for sale to Cadillac
2021-02-09 19:53 MT - News Release
Mr. Robert Kadane reports
CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ENTER INTO ARRANGEMENT AGREEMENT
In connection with their previously announced letter of intent, Cadillac Ventures Inc. and KFG Resources Ltd. have entered into a definitive arrangement agreement dated Feb. 9, 2021, pursuant to which, among other things, Cadillac will acquire all of the issued and outstanding common shares of KFG. Under the arrangement agreement, KFG shareholders will be entitled to receive one common share of Cadillac in exchange for each KFG common share held. The arrangement agreement will be filed on KFG's SEDAR profile on the SEDAR website.
The transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by at least 66-2/3rds per cent of votes cast by KFG shareholders present in person or represented by proxy at a special meeting of KFG shareholders to be called in connection with the transaction in addition to any minority approval required under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). In addition to KFG shareholder approval, closing of the transaction is subject to the receipt of certain regulatory, court and stock exchange approvals, and the satisfaction of other closing conditions customary in transactions of this nature.
Further information regarding the transaction will be contained in a management information circular that KFG will prepare, file and mail to KFG shareholders in connection with the meeting. All KFG shareholders are urged to read the information circular once available as it will contain additional important information concerning the transaction.
The transaction has been unanimously approved by the board of directors of both KFG and Cadillac. The board of directors of KFG unanimously recommends that KFG shareholders vote in favour of the transaction at the meeting.
Following completion of the transaction, it is anticipated one KFG director will be appointed to the Cadillac board of directors and a second KFG nominee will be appointed at Cadillac's next annual shareholders meeting. KFG common shares will be delisted from the TSX Venture Exchange.
We seek Safe Harbor.
The merger between NEE and EGLD is now complete. This is great news for PGOL because the new company will be better funded and allow for increase production, plus prove up more gold/silver ore at Moss.
Eclipse Gold receives court OK for Northern Vertex deal
2021-02-09 21:01 MT - News Release
See News Release (C-EGLD) Eclipse Gold Mining Corp
Mr. Kenneth Berry of Northern Vertex reports
ECLIPSE GOLD RECEIVES FINAL COURT ORDER APPROVING PLAN OF ARRANGEMENT WITH NORTHERN VERTEX AND ANNOUNCES SECURITY HOLDER VOTING RESULTS
Eclipse Gold Mining Corp. has received a final order from the Supreme Court of British Columbia, approving the previously announced plan of arrangement between Eclipse and Northern Vertex Mining Corp. pursuant to which Northern Vertex will acquire all of the issued and outstanding common shares of Eclipse. Pursuant to the transaction, Eclipse shareholders will be entitled to receive 1.09 common shares of Northern Vertex in exchange for each common share of Eclipse held. Please see the joint news releases of Northern Vertex and Eclipse dated Dec. 7, 2020, Dec. 21, 2020, and Jan. 14, 2021, for further details regarding the transaction, as well as Eclipse's management information circular dated Dec. 30, 2020, available under Eclipse's corporate profile on SEDAR.
Receipt of the final order follows Eclipse's special meeting of securityholders, held on Feb. 4, 2021, where the transaction was overwhelmingly approved by 99.82 per cent of the votes cast by the shareholders of Eclipse and 99.83 per cent of the votes cast by the shareholders and the optionholders of Eclipse voting as a single class. Closing of the transaction remains subject to customary closing conditions, including final approval of the TSX Venture Exchange.
The transaction is currently anticipated to close on Feb. 12, 2021. Eclipse has applied to the exchange to delist its common shares from trading on the exchange following the closing of the transaction. Eclipse will request that trading in the Eclipse shares will be halted after market close on Feb. 11, 2021. Assuming the transaction closes on Feb. 12, 2021, the common shares of Eclipse are expected to be delisted after market close on or about Feb. 16, 2021.
About Northern Vertex Mining Corp.
Northern Vertex owns and operates the Moss mine, currently the largest pure gold and silver mine in Arizona. Focused on low-cost gold and silver production, the company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss, the company intends to consolidate additional producing and exploration gold assets within the western United States. Through mergers and acquisitions, Northern Vertex has a corporate goal to become a mid-tier gold producer.
About Eclipse Gold Mining Corp.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation, epithermal, gold system. The company brings together a team with a record of extensive mergers and acquisitions and nine successful buyouts totalling $4.6-billion.
We seek Safe Harbor.
Cadillac enters definitive deal to buy KFG
2021-02-09 17:45 MT - News Release
Mr. Norman Brewster reports
CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ENTER INTO ARRANGEMENT AGREEMENT
In connection with their previously announced letter of intent, Cadillac Ventures Inc. and KFG Resources Ltd. have entered into a definitive arrangement agreement dated Feb. 8, 2021, pursuant to which, among other things, Cadillac will acquire all of the issued and outstanding common shares of KFG. Under the arrangement agreement, KFG shareholders will be entitled to receive one common share of Cadillac in exchange for each KFG common share held. The arrangement agreement will be filed on Cadillac's SEDAR profile on the SEDAR website.
KFG, through its wholly-owned subsidiary KFG Petroleum Corporation ("KFG Petroleum"), owns primary producing oil reserves in the United States. Following completion of the Transaction KFG will become a wholly-owned subsidiary of Cadillac, and Cadillac will thus have an interest in these oil reserves. In particular, KFG Petroleum owns primary producing oil reserves located on the Spring Hill lease, Fayette Field, and Jefferson County, Mississippi. Additionally, KFG Petroleum owns two shut-in gas wells in Jefferson County, Mississippi. Furthermore, KFG owns an interest in twelve additional oil wells in Adams, Franklin, and Jefferson counties, Mississippi, all of which have future value. Based on information as of April 30, 2020, contained in KFG's most recent Form 51-101F1, three of the five Spring Hill reserves comprise approximately 91.8% of KFG's proved oil reserves and 60.8% of KFG's proved plus probable oil reserves. KFG does not have any future gas reserves, while future oil reserves account for 100% of KFG's future net revenue attributable to its proved plus probable reserves. Detailed information regarding the oil and natural gas reserve data for KFG Petroleum Corporation can be found in its most recent Form 51-101F1 dated April 30, 2020, which is available under KFG's SEDAR profile.
The Transaction will be effected by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by at least 66 2/3% of votes cast by KFG shareholders present in person or represented by proxy at a special meeting of KFG shareholders to be called in connection with the Transaction (the "Meeting") in addition to any minority approval required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. In addition to KFG shareholder approval, closing of the Transaction is subject to the receipt of certain regulatory, court and stock exchange approvals and the satisfaction of other closing conditions customary in transactions of this nature.
The Transaction has been unanimously approved by the board of directors of both KFG and Cadillac.
Following completion of the Transaction, it is anticipated one KFG director will be appointed to the Cadillac board of directors and a second KFG nominee will be appointed at Cadillac's next annual shareholders meeting. KFG common shares will be delisted from the TSXV.
CSE update came out. Looks like Windy Peak and Rainbow have both been drilled, pending results:
https://www.thecse.com/en/listings/mining/patriot-gold-corp
Jan 1 2021 Update:
Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.
Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.
Feb 1 2021 Update:
Patriot has completed a drilling program on its Windy Peak project and is awaiting assay results.
We are conducting exploration on the Rainbow Mountain and Windy Peak projects. We are also vetting potential projects.
IRI.V – Iemr Resources Inc. Due Diligence Report
Financials & MD&A information below as per the most current filing on Sedar. Year End results to be announced shortly.
Price: $0.03
Common Shares: 94,807,141
Insider Holdings: 72,190,857 or 76%
Website: http://iemrresources.com/
Financials
Assets
Cash: $1,025,813
Prepaid Expenses: $4,257
Tax Receivable: $6,852
Non Current Assets: $2,242,706
Total Assets: $3,279,628
Liabilities
Current Liabilities: 21,566
Total Liabilities: $21,566
Quarterly Cash Burn Rate: $20k to $30K – Directors do no take any salary despite owning so much stock.
MD&A Highlights
The Company is a mineral exploration company and its principal business activities include the acquisition, exploration and development of mineral properties. The Company owns a 100% interest in mineral lode claims known as the Pine Tree copper-molybdenum property (the “Pine Tree Property”) located in the Pilot Mountains in Mina, Nevada.
At present, the Company continues to seek opportunities to acquire exploration and/or development projects
Pine Tree Property The Company, through its wholly owned Nevada subsidiary, owns a 100% interest in the Pine Tree property containing porphyry molybdenum-copper-silver deposit, with the principally targeted resource being copper. The property is comprised of 61 mineral lode claims covering an area of approximately 1320 acres located in the Pilot Mountains Mining District in west-central Nevada. Situated five miles east of the town of Mina, Nevada, half way between the cities of Reno and Las Vegas, the Pine Tree property lies in an area that is host to several active small-scale mines and operations, as well as significant historical past producers. As of July 31, 2020, IEMR has incurred aggregate exploration expenditures of approximately $2.19 million on the Pine Tree property. The Company's last exploration work on the Pine Tree Property was a drilling program conducted in 2011. In 2012, a resource estimate for the Pine Tree property was completed by Giroux Consulting ("Giroux"), an independent mineral industry consultant. The resource estimate is contained in a National Instrument 43-101 ("NI 43-101") compliant technical report dated July 6, 2012 (the "Technical Report"), which is available under the Company's profile on SEDAR www.sedar.com. The resource estimate was based on a total of 30 diamond drill holes totaling 43,797.5 feet (14,069.7 meters). Of these 9 diamond drill holes were completed by IEMR in 2011. The resource calculation estimated that, as at October 20, 2011, the Pine Tree deposit contained, at a $5.00 cutoff:
Indicated: 435 million lbs of Copper, 174 million lbs of Molybdenum, 11.2 million ounces of Silver
Inferred: 591 million lbs of Copper, 112 million lbs of Molybdenum, 17.4 million ounces of Silver
The Company intends to engage an independent Qualified Person to recommend an initial sub stage program and budget for further metallurgical testing and drilling of the Pine Tree Property to be completed in 2020. The details and budget of the sub stage program will be disclosed in a future news release. If required by NI 43-101 or the TSX Venture Exchange (the "Exchange"), the Company will obtain and file an updated technical report related to future exploration of the Pine Tree property. IEMR will likely require additional funding to complete the next phase of a drill plan and there can be no assurance that such funding will be available in the amount needed or at all. The Company's 2020 plan for further exploration and development of the Pine Tree property is intended to meet the Activity criteria of the Continued Listing Requirements of the Exchange in accordance with Exchange Policy 2.5, section 2.1.
Outlook
No exploration program was carried out on the Pine Tree Property during the nine months ended July 31, 2020. The Company intends to consult a Qualified Person in order to compile a future work program and budget as funds become available for continuation of exploration and development of the Pine Tree Property.
Two important articles out yesterday and today.
PGOL will earn $700K USD In Q4. New Update From CSQ Regarding Bruner:
1) Northern Vertex reported revenue of $23.4 million USD. That means $700,000 USD is owed to PGOL for Q4 2020
https://www.newswire.ca/news-releases/northern-vertex-reports-revenue-of-us-23-4-million-and-production-of-12-401-gold-equivalent-ounces-for-quarter-ending-december-31-2020-815331581.html
2) Canamex Gold Corp has updated the markets after several months and their Bruner project should be moving forward this year, once some debt issues are resolved. PGOL has a 2% royalty on this property and there is around 500,000 ounces of gold proven.
https://www.stockwatch.com/News/Item?bid=Z-C:CSQ-3018883&symbol=CSQ®ion=C
https://www.barchart.com/stocks/quotes/PGOL/opinion
Patriot Gold Corp (PGOL)
0.1605 +0.0001 (+0.06%) 01/15/21 [OTC US]
BARCHART OPINION for Fri, Jan 15th, 2021Tutorial Alerts Watch Help
Overall Average:
100% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
Composite Indicator
TrendSpotter
BUY
Short Term Indicators
20 Day Moving Average
BUY
20 - 50 Day MACD Oscillator
BUY
20 - 100 Day MACD Oscillator
BUY
20 - 200 Day MACD Oscillator
BUY
20 - Day Average Volume: 141,730 Average: 100% BUY
Medium Term Indicators
50 Day Moving Average
BUY
50 - 100 Day MACD Oscillator
BUY
50 - 150 Day MACD Oscillator
BUY
50 - 200 Day MACD Oscillator
BUY
50 - Day Average Volume: 115,360 Average: 100% BUY
Long Term Indicators
100 Day Moving Average
BUY
150 Day Moving Average
BUY
200 Day Moving Average
BUY
100 - 200 Day MACD Oscillator
BUY
100 - Day Average Volume: 122,912
PGOL Insider/Institutional Holdings at 50%. Information can be found on Patriot Gold Corp’s most recent annual information sheet on Sedar and Royalty Streams most recent financials. See links below. Royalty Stream also verifies in their presentation that the Moss mine has a very long production life, with upside.
Robert D. Coale Common Stock 731,250 (1) 1%
Trevor Newton Common 19,921,500 (2) 26.8%
Series A Preferred Stock 290,000 100%
Zachary Black Common Stock 500,000 (3) 0.7%
Directors and Officers as a Group Common Stock (3 individuals) Common Stock 21,152,750 28.5%
Directors and Officers as a Group Series A Preferred Stock (3 individuals)
Series A Preferred Stock 290,000 100%
KF Business Ventures, LP Common Stock 6,000,000 8.1%
Ron Daems Common Stock 9,600,000 12.9%
Royalty Stream Corp. 3,000,000 0.4%
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036491
https://www.royaltystreams.com/investors/
Drilling Commencing at Patriot Gold's Windy Peak Gold Project in Nevada
2021-01-06 07:04 MT - News Release
LAS VEGAS, NV / ACCESSWIRE / January 6, 2021 / Patriot Gold Corp. (CSE:PGOL)(OTCQB:PGOL) - Patriot Gold Corp. ("Patriot") today announced that a drill rig and crew are on-site at Patriot's Windy Peak gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows a core drilling program executed by Patriot at Windy Peak in the autumn of 2018, and a reverse circulation drilling program executed by Patriot in the winter of 2019. Patriot's 100%-owned Windy Peak gold project is situated in a gold-producing region which hosts such deposits as the Paradise Peak and Rawhide.
About Patriot Gold Corp
Patriot is exploring its 100%-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project, and Vernal gold project. Patriot owns a 3% royalty in the Moss Mine in Arizona, now in commercial production. Patriot also owns a 2% royalty in the Bruner gold project in Nevada.
On Behalf of the Board of Patriot
Trevor Newton
President, Director
www.PatriotGoldCorp.com
December 21, 2020 Kitco Interview With Northern Vertex CEO (Company That Pays PGOL's 3% Royalty At The Moss Mine)
Some extra information here. PGOL is required to update shareholders via TheCSE website on a monthly basis. Link below, along with a couple updates for January (See Form 7)
https://www.thecse.com/en/listings/mining/patriot-gold-corp
Report on Business
1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.
Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.
2. Provide a general overview and discussion of the activities of management.
We are moving forward on certain field operations on the Rainbow Mountain and Windy Peak projects. We are also vetting potential projects.
Moderator needs to change which section we are in. Shows PGOL under oil and gas and we are clearly a gold royalty/exploration company.
News: Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada
http://www.patriotgoldcorp.com/news/?id=118&title=Drilling-to-Commence-at-Patriot-Golds-Rainbow-Mountain-Gold-Project-in-Nevada
Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada
December 10, 2020
Patriot Gold Corp ("Patriot") provided the following update today to shareholders.
Patriot Gold today announced that a drill rig and crew are on-site at Patriot's Rainbow Mountain gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows sampling and other field work conducted by Patriot. Patriot's 100%-owned Rainbow Mountain gold project is situated on the margins of the Walker Lane belt and the Basin and Range province.
The CSE has neither approved nor disapproved the information contained herein.
Patriot Gold Corp Due Diligence Report (Gold Royalty & Exploration Company)
All information below can be found at www.Sedar.com
Stock Ticker: PGOL - Same ticker for Canadian & US Exchanges
Price: $0.20 CDN & $0.14 USD
Common Shares: 74,319,957
Insider Holdings: 36,752,750 or 49.5% - See Annual Information
Company Website: www.patriotgoldcorp.com
Basic description: PGOL owns 3 royalties (1 producing) and 3 exploration properties. The producing Moss Mine has a 10 year life (started in 2018), which is currently being increased by Northern Vortex(NEE.V). The company clearly states in their most recent presentation that they want to ramp up production by 10 fold, which would mean multi million dollar royalties for Patriot Gold every quarter. NEE.V is also increasing it’s resource as we speak, so royalty payments will for sure exceed the 10 years - https://www.northernvertex.com/investors/presentations/
PGOL only started trading on the CSE at the end of summer 2020, so volume has been low, compared to the US side which trades daily and in large volume. But the Canadian side will catch up as time goes on and more profitable quarters are announced. To get an accurate market depth, you want to compare what’s shown on the US side and it translates to the Canadian side at roughly 1.30 exchange rate. The CSE might not show all those bids/asks because of the alternate trading systems.
Financials (Ending September 30th 2020) - All numbers are in US Dollars
ASSETS
Cash: $583,866
Marketable Securities: $224,554
Royalty Receivables: $1,159,856
Prepaid Expenses: $109,339
Long Term Assets: $300,000
Total Assets: $2,377,615
LIABILITIES
Accounts Payable: $171,852
Total Liabilities: $171,852
9 Month Revenue Performance
Royalty payments: $1,734,325
Net Income: $1,107,495
Earnings Per Share: $0.015 USD or $0.0193 CAD
Note: Patriot Gold has set a budget of $1,000,000 for it's G&A + exploration expenses in 2020. This will continue on a yearly basis, so investors know what the company intends to spend in the fiscal year.
Royalty Interests
Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company has a 3% net smelter return royalty on the Moss Mine in Arizona. For the nine months ended September 30, 2020 and 2019, the Company earned royalties of $1,734,325 and $973,271, respectively. As of September 30, 2020 and December 31, 2019, the Company had Royalties Receivables of $1,159,856 and $487,060, respectively.
Pursuant to the Bruner Purchase and Sale Agreement with Canamex Resources, the Company has a 2% net smelter return royalty on the Bruner Gold/Silver mine in Nevada. As of September 30, 2020, no royalties have yet been earned. (This asset has a high grade proven gold/silver resource)
In March 2019, the Company purchased a Vanadium Oxide royalty interest from a related party. In exchange for a non-refundable payment of $300,000, the Company will receive royalties based on the gross production of Vanadium Oxide (“Vanadium”) from a bitumen deposit covering several oil sands leases in Alberta. For each barrel of bitumen produced from the specified oil sands until March 21, 2039, or upon termination of mining, whichever is earlier, the Company will be paid a royalty equal to 25 grams of Vanadium per barrel of bitumen produced, multiplied by the price of Vanadium Pentoxide 98% min in-warehouse Rotterdam published on the last business day of the month in which the gross production of bitumen occurred. As of September 30, 2019, $240,000 has been paid, and the remaining $60,000 was paid in installments through December 31, 2019. As of September 30, 2020, no royalties have yet been earned.
Mineral Properties
Windy Peak Property
The Windy Peak Property, (“Windy Peak”) consists of 114 unpatented mineral claims covering approximately 2,337 acres, 3 miles NNE of the Bell Mountain and 7 miles east of the Fairview mining district in southwest Nevada. As of September 30, 2020, the company has incurred approximately $801,025 of exploration expenses on the Windy Peak Property, and$113,816 and $124,056 were spent for the nine months ended September 30, 2020 and 2019, respectively.
Rainbow Mountain Property
In the fall of 2018, after conducting initial reconnaissance of the Rainbow Mountain, the Company acquired the Rainbow Mountain Property (“Rainbow Mountain”). This early-stage exploration project was secured through staking and filing the associated paperwork and fees with the BLM and County.
The Rainbow Mountain gold project consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres, located approximately 23 km southeast of Fallon, in the state of Nevada. Access to the project area is by paved highway, followed by a short stretch of gravel road.
Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in perpetuity. As of September 30, 2020, the company has incurred approximately $101,208 of fees and exploration expenses on the Rainbow Mountain Property, and $13,194 and $2,160 were spent for the nine months ended September 30, 2020 and 2019, respectively.
Bruner and Vernal Properties
On May 28, 2010 the Company entered into an exclusive right and option agreement with Canamex Resources Corp. (“Canamex”) whereby Canamex could earn a 70% (or up to 75% if a bankable feasibility study is performed) undivided interest in the Bruner, and Bruner Expansion properties, herein after collectively referred to as the “Bruner Properties”. Upon the completion of the terms of the Agreement by Canamex, and upon earning its initial interest, the parties agreed to negotiate a definitive joint venture agreement in good faith to supersede the agreement. During the first half of 2016, it was determined by the Company that Canamex had successfully earned a 70% interest in the Bruner Property according to the terms of the Bruner Option Agreement.
On April 25, 2017, the Company and Canamex Resources Corp. entered into a purchase and sale agreement (“Bruner Purchase and Sale Agreement”) whereby Canamex Resources purchased Patriot Gold's 30% working interest in the Bruner gold/silver mine for US$1,000,000 cash. The Company retains a two percent net smelter return (“NSR”) royalty on the Bruner properties including any claims acquired within a two-mile area of interest around the existing claims. Additionally, Canamex has the option to buy-down half of the NSR royalty retained by Patriot for US$5 million any time during a five-year period following closing of the purchase and sale agreement.
As of September 30, 2020, the Company has incurred approximately $89,616 of accumulated option and exploration expenses on the Vernal property. During the nine months ended September 30, 2020 and 2019, the Company incurred no exploration expenses on the Vernal property, respectively.
You can get free Level 2(Market Depth) for each exchange at the following websites:
Canada: https://www.thecse.com/en/listings/mining/patriot-gold-corp
USA: https://www.otcmarkets.com/stock/PGOL/quote#level-2
No cheap gas in 2021: Why Ukraine cannot increase blue fuel production?
https://112.international/finance/no-cheap-gas-in-2021-why-ukraine-cannot-increase-blue-fuel-production-57745.html
Ukraine natural gas prices are back to $7.50 an MCF as per the link below.
https://www.ueex.com.ua/eng/exchange-quotations/natural-gas/medium-and-long-term-market/
If you look at past prices and profitability, Cub Energy was making good money when pricing was over $7 an MCF. Add in the cost cut measures put in place this year and the RK field about to go into production, there is some good upside coming.
January 2021 7 540,06 7 443,85 7 573,23
December 2020 6 329,75 5 943,76 6 344,48
November 2020 6 101,31 6 186,71 6 039,92
October 2020 5 983,81 6 051,61 5 555,96
September 2020 4 702,90 4 521,84 4 853,50
CMIL hit a 52 week high this week and insiders/institutions are continuing to add. RBC has purchased over 15 million shares from one group over the last few months and there's only 47 million retail available right now. On top of that, the CEO Eric Roth has also been adding to his position. See below:
https://ceo.ca/api/sedi?insider=&symbol=CMIL&date=&transaction=&amount=&undefined[company_symbol]=CMIL
Filed 2020-12-22 14:34
Tx date 2020-12-22 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $3,905
+35,500 vol
$0.11 each 6,899,702
Older filings
Filed 2020-12-09 04:32
Tx date 2020-12-08 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $4,500
+50,000 vol
$0.09 each 294,813
Filed 2020-12-09 04:28
Tx date 2020-12-04 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $5,011
+62,647 vol
$0.08 each 244,813
Filed 2020-12-04 06:35
Tx date 2020-12-03 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $1,799
+22,210 vol
$0.081 each 182,166
Filed 2020-12-03 06:38
Tx date 2020-12-02 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $2,535
+31,300 vol
$0.081 each 159,956
Filed 2020-12-03 05:35
Tx date 2020-12-01 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $7,299
+100,000 vol
$0.073 each 128,656
Filed 2020-11-26 06:00
Tx date 2020-11-23 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $1,228
+14,287 vol
$0.086 each 28,656
Filed 2020-11-26 05:59
Tx date 2020-11-18 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $1,293
+14,369 vol
$0.09 each 14,369
Capella Minerals December 2020 Company Presentation: https://capellaminerals.com/site/assets/files/5553/2020-12-capella-cp.pdf
Lots of new information including timelines, pictures, data on each property, and also mentions that EMX will own 10% of cmil, so institutional/insider ownership is increasing. The only thing it does not talk about yet is Cerrado Gold stock and more information on our 20% Sierra Blanca property where AGLD.C has to spend $800,000 to earn 80%.
Yamana news out and it mentions Capella Minerals. Drilling will start early 2021. See below:
https://www.globenewswire.com/news-release/2020/12/03/2138783/0/en/Yamana-Gold-Advances-Projects-in-Its-Generative-Exploration-Program-Outlines-2021-Plans-for-Advancing-Projects-Reports-Positive-Advances-at-Lavra-Velha-Monument-Bay-Borborema-and-A.html
The Domain project, located near Oxford Lake in northeastern Manitoba, is a large 20,000-hectare property package consisting of two unexplored mineral exploration licences 100%-controlled by Yamana, and three smaller claims held under a joint venture agreement with Capella Minerals Ltd. The property is considered to be highly prospective for iron formation-hosted gold deposits and has returned a number of drill intercepts with significant gold grades from a limited area of drilling within the joint venture claims. The larger land package has magnetic anomalies and limited arsenic-in-till anomalies that indicate potential targets for further iron formation-hosted gold as well as shear zone type gold targets.
In July 2020, Yamana entered into an Exploration Agreement with Bunibonibee Cree Nation to develop a cooperative and mutually beneficial relationship relating to mineral exploration within the Traditional Territory of Bunibonibee Cree Nation. Yamana is in the planning stages of a work program for the property, and pending conclusion of community consultation and permitting, exploration work is anticipated to begin in early 2021.
Eric Roth picked up another 130,000 shares yesterday. He already owns over 7% of the float, so it's encouraging to see him adding shares. Once we get rid of this old pp seller, it will move up fast. Also, BBA approved the Cerrado Gold transaction late yesterday:
BB1 Acquisition receives conditional OK for Cerrado QT
2020-12-02 20:34 MT - News Release
Mr. Stephen Shefsky reports
BB1 ACQUISITION CORP. ANNOUNCES UPDATE TO QUALIFYING TRANSACTION WITH CERRADO GOLD INC.
The TSX Venture Exchange has conditionally approved its proposed business combination with Cerrado Gold Inc., which will constitute the corporation's qualifying transaction pursuant to the policies of the TSX Venture Exchange, as such term is defined in TSX-V Policy 2.4 (Capital Pool Companies). BB1 is also pleased to announce that the Toronto Stock Exchange has conditionally approved the listing of the shares of the resulting issuer (as defined below) on the TSX, subject to the completion of the transaction and the resulting issuer meeting certain TSX listing requirements. Upon completion of the transaction, the resulting issuer's shares will be listed on either the TSX-V or the TSX.
BB1 and Cerrado have entered into a business combination agreement, effective Nov. 29, 2020, to complete the transaction pursuant to which the corporation intends to complete a three-cornered amalgamation with Cerrado, and upon completion of the transaction, the combined entity will continue to carry on the business of Cerrado.
Assuming all conditions to the closing of the transaction are satisfied, the company and Cerrado anticipate closing the offering (as defined below) and the transaction on or before Feb. 23, 2021. In due course, the parties will issue a further press release announcing the date on which the transaction is expected to close and the common shares of the company will resume trading.
Results of annual and special shareholder meeting
BB1 is pleased to announce that its shareholders approved all resolutions brought before them at the corporation's annual and special meeting of shareholders held virtually on Nov. 23, 2020, including the approval of all matters relating to the proposed transaction.
Filing statement
In connection with the transaction, the corporation has filed a filing statement dated Nov. 29, 2020, with the TSX-V and on SEDAR. Additional information in respect of the transaction and Cerrado is available in the filing statement.
Concurrent financing
Further to BB1's press release dated Nov. 3, 2020, Cerrado intends to complete a brokered private placement of subscription receipts. Under the terms of the TSX-V conditional approval for the transaction, the offering is subject to Cerrado raising minimum gross proceeds of $10-million, up to a maximum of $25-million. Each subscription receipt shall be issued at a price of $2 per subscription receipt. Additional details with respect to the offering are available in the filing statement.
About BB1 Acquisition Corp.
The corporation is incorporated under the Business Corporations Act (Ontario) and is a capital pool company listed on the TSX-V. The corporation has no commercial operations and has no assets other than cash. For further information, please see the final prospectus of the corporation dated Oct. 5, 2018, filed on SEDAR.
Filed 2020-12-03 04:38
Tx date 2020-12-02 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $2,535
+31,300 vol
$0.081 each
Filed 2020-12-03 03:35
Tx date 2020-12-01 $CMIL
Capella Minerals Limited Roth, Eric
4 - Director of Issuer, 5 - Senior Officer of Issuer
Holder: RL360 (Indirect Ownership)
Common Shares
10 - Acquisition or disposition in the public market $7,299
+100,000 vol
$0.073 each
Small caps in the hydro electric space aren't that common on the TSX, but I was able to find a comparable company that's also in BC and already producing, but only a fraction of the MW.
SXI.T - $10 million market cap
- 40 million shares, trades at $0.24
- $15 million in debt/liabilities
- Produces 11MW or $300,000 revenue per quarter
AKH.H - $4.4 million market cap
- 44 million shares, trades at $0.10
- no debt, clean balance sheet
- JV with large cap NYSE company
- Project to produce 75MW or an estimated $2.1 million revenue per quarter
Some additional information below pertaining to the project. News release clearly says it has a NPV of $155 million US dollars.
http://www.alaskahydro.com/project/more-creek.php
https://www.alaskahydro.com/pdf/NR/AKH%20NR%20Sep%206%202018.pdf
ALASKA HYDRO UPDATE ON MORE CREEK HYDRO ELECTRIC PROJECT September 6, 2018 – Vancouver, British Columbia – Cliff Grandison, President of Alaska Hydro Corp. (the Company), TSX:AKH, announced that the Company's consultant, Sigma Engineering has completed a revision to its 75 MW More Creek hydroelectric project Prefeasibility Study. The revisions have been made to include the diversion of water from the Forrest Kerr water shed into the More Creek watershed. The Forrest Kerr Creek is approximately 2.5 km west of the south arm of More Creek and the proposed diversion would be approximately 25 km upstream of its confluence with the Iskut River. Water in excess of 3.7 m3 /s or approximately 21.36 m3 /s of the mean annual flow will be diverted to More Creek and increase annual generation from 345 GWh to 448 GWh and revenue potential from $34.5 million to $44.8 million, an increase of 30%. Total construction cost is expected to increase from $ 191,247,020 to $242,223,320. The rate of return or IRR is estimated to be 33.61% and the Net Present Value at a 10% discount rate is estimated to be $154,924,278. The financial result of the revised prefeasibility study confirms that the More Creek project is financially robust and will be subjected to a full feasibility study with the revised design criteria. The More Creek project is in both the federal CEAA environmental assessment process and the BC EAO environmental assessment process. The Forrest Kerr diversion will require an amendment to the project description and every effort will be made to continue with the environmental assessments without being setback by the design change. The More Creek storage dam and generator will not require any design change to handle the increased flow resulting from the diversion from Forrest Kerr Creek. The Company is seeking joint venture partners to take the project through the engineering and permitting stage. For further information, please contact: Cliff Grandison, President (604) 929-3961
Alaska Hydro signs LOI with KOWEPO for due diligence
2020-12-02 11:32 MT - News Release
Mr. Cliff Grandison reports
ALASKA HYDRO PROVIDES UPDATE
Alaska Hydro Corp. has provided an update on the company's activities. He reported the receipt of a Letter of Intent from Korea Western Power Co., Ltd. (KOWEPO), a wholly owned subsidiary of Korea Electric Power Corporation (KEPCO) to conduct due diligence on Alaska Hydro's More Creek hydroelectric Project. KEPCO is the principal supplier of electricity in Korea and is a publically listed company on both Korea stack exchange and the NYSE
The non-binding Letter of Intent expressed a desire to become a partner and outlined a requested list of information to conduct due diligence on which to make their decision. No specific terms of for investment or partnership are motioned
The Company is providing all available information.
Mr. Grandison also reported the signing of a Success Fee Agreement with Hahn Renewable Energy LLC. This agreement has stated Performance Goals for the sale and/or financing of the More Creek Project. Compensation is based on successful conclusion of financing or sale. Hahn Renewable Energy is a private company registered in California.
Both KOWEPO and Hahn Renewable Energy LLC are arms length companies to Alaska Hydro Power Corporation
The More Creek Project is a 75 MW hydroelectric storage dam and generator on More Creek in northwest British Columbia. The project is in the environmental review process required for an Environmental Assessment Certificate from both the federal and provincial environmental agencies.
The Company has completed a prefeasibility study and will prepare a feasibility study to coincide with the filing of the Environmental Application for an Environmental Assessment l Certificate. A Phase 1 Feasibility Study which provides a high level of confidence in the project metrics is being considered.
Funds for the Feasibility Study and Environmental Assessment are being pursued and the foregoing mentioned Success Agreement is a focused effort to raise funds.
We seek Safe Harbor.
East West Petroleum Q3 Resultsm Released November 30th 2020. Information below can be found on Sedar.
Symbols: EW(Canada) & EWPMF(USA)
Prices: $0.045CAD & $0.03USD
Common Shares: 89,585,665
Website: www.eastwestpetroleum.ca
Financial Results, Ending September 30th 2020 - keeping in mind that brent oil was lower this quarter
ASSETS
Cash: $4,911,056 - Company currently has a market cap below it's cash value
GST Receivable: $6,280
Amounts Receivable: $166,802
Prepaid Expenses: $28,880
Investments: $599,200 - Both stocks held have gone up since this end period
Exploration & Evaluation Assets: $1,655,361
Property, Plant & Equipment: $368,384
Total Assets: $7,735,963
LIABILITIES
Accounts Payable: $284,094
Decommissioning: $1,325,303
Total Liabilities: $1,609,397
Performance
Six Month Revenue: $1,135,141 (2019 - $1,491,042) - Lower due to the oil price drop from Covid
Net Loss: $328,072 - Depletion was $340,000
Management Discussion Highlights
New Zealand
PMP 60291 is the location of the Cheal E-Site and the Cheal E-site production facility as well as the Cheal-E wells.
There has been continued positive response from the Cheal E waterflood program, with both production and pressure
increases having been observed. The Cheal E waterflood program was expanded to include the conversion of the
Cheal-E4 well to a water injector in two Mt. Messenger formation intervals, which has swept oil towards the Cheal
E1 producing well from the southern area of the field resulting in additional oil recovery and extending the Cheal-E
site’s field life.
The Company’s portion of oil and gas production remained relatively consistent during the three months ended
September 30, 2020 (“Q2”) compared to the three months ended June 30, 2020 (“Q1). During Q2 the Company’s
portion of oil and gas production was 13.8 Mbbl oil and 21.2 Mmcf gas, compared to 15.3 Mbbl oil and 21.8 Mmcf
gas during Q1. The Company had five wells, the Cheal-E1, E2, E5, E6 and E8 producing for both Q2 and Q1.
On October 24, 2020 the Cheal-E1 pump stopped functioning. The Operator has managed to pull the rods with a
crane and intends to clean the well and replace the pump. Production from the Cheal-E1 well is expected to resume
by mid to late December 2020.
Romania
As operator, NIS has proposed and is actively progressing comprehensive exploration programs in the EX-2, EX-3,
EX-7 and EX-8 exploration blocks in Romania. It should be noted that all activities are dependent on securing the
necessary government and local approvals.
Due to the Covid-19 pandemic the state of emergency a nationwide lockdown was imposed by the Romanian
government on March 25, 2020. Consequently, the operator NIS, has temporarily ceased new exploration field activity
until such time that the lockdown is lifted and social distancing requirements can be safely relaxed. It is expected that
this will substantially delay the planned 2020 exploration programs in the EX-2, EX-3, EX-7 and EX-8 exploration
blocks in Romania. As usual, it should be noted that all activities are dependent on securing the necessary government
and local approvals.
On Block Ex-2, acquisition program of 3D seismic in the amount of 170 Km2 was completed in Q3/2019 (calendar)
with processing completed in July 2020. Interpretation is currently underway. The Phase 1 Exploration Period was
extended for another two years and now ends in December 2021.
On Block EX-3, processing of the data acquired last year on 223 km2 3D seismic program has been finished and
interpretation of the data has been completed. This work identified several exploration prospects with drilling
expected to commence in 2021 (calendar). The Phase 1 Exploration Period was extended for another two years and
now ends in December 2021.
On Block EX-7, an exploration well, Bvs-1000, was drilled in Q1/2019 (calendar) to a total depth of 3,800 meters and
encountered several potential hydrocarbon bearing zones as identified on logs. Testing has now been postponed until
2021 (calendar). On the Teremia North discovery, the initial discovery well, Teremia-1000 experienced mechanical
problems resulting in an inflow of formation water. NIS now plans to recomplete the well as a potential gas producer
in either 2021 or 2022. An appraisal well, Teremia-1001, was drilled and completed in Q1/2019 (calendar) and,
following initial testing, was placed on long term experimental production in July 2019.
On Block EX-8, a second deviated appraisal well, Teremia-1002, was drilled into the extension of the Teremia North
discovery. The well was completed and tested in Q4/2019 (calendar) and has subsequently been placed on long term
experimental production.
NIS has requested extension of the experimental oil production periods for Teremia-1001 and Teremia-1002 to gather
more performance data.
An exploration well, Pesac Sud-1000 was drilled and completed in 3Q/2019 (calendar) two separate intervals were
tested in Q4/2019 (calendar). Both tests failed to indicate the presence of hydrocarbons. Future testing of potentially
prospective shallower zones is being considered for 2021 (calendar).
NIS is committed to fulfilling the commitment work programs in all blocks, considering certain legislative changes
and being granted appropriate extensions due to the current Covid-19 situation.
NIS will be funding 100% of the costs and fully carrying the Company through the commitment work programs in
each of the blocks in return for earning an 85% interest in each licence. A technical meeting is tentatively scheduled
for September 2020 in which NIS is expected to present a proposal for a development phase for which the Company
will be responsible for its 15% interest.
Investments
As at September 30, 2020 the Company held 240,000 common shares of Orocobre and 190,000 common shares of
Sweet Earth with a total quoted value of $599,200
Commitments
The Company’s share of expected exploration and development permit obligations and/or commitments as at
September 30, 2020 are approximately $147,000 to be incurred during fiscal 2021 and $1,400,000 over the next five
years. The Company may choose to alter the program, request extensions, reject development costs, relinquish certain
permits or farm-out its interest in permits where practical
Out today, Crux interview with Cerrado Gold. As per Capella Minerals(previously New Dimension Resources) news release from October 28th, CMIL.V will own $2.25 million worth of stock in this company in exchange for selling their Argentina subsidiary.
What's surprising about this is they are listing around $2, compared to the shell that has a rollback price of only 42 cents. But this is only 5.5 million shares of the entire float and the shell had a good amount of cash in it.
November 28th Crux Interview With Cerrado Gold:
Axmin Q3 Results Out. Two Updates From The MD&A:
Page 5: The Company has been advised that Presidential and legislative elections will be held simultaneously on December 26, 2020, with results to be officially announced one week after the elections. On November 2, 2020, the Company has received notice from Central African State to confirm in participating in the mediation process with the company’s subsidiaries AURAFRIQUE SARL SOMIO TOUNGOU SA. Mediation between the Company and the Central African State is progressing and practical arrangements are being made to resolve the difficulties within a short period of time. The date will be further confirmed from the arbitral chamber. The Company has received notice that the Central African State will be represented by Flavien Mbata, Minister of Justice and Human Rights, and Léopold Mboli Fatran, Minister of Mines and Geology in the arbitration.
Page 7: On November 16, 2020, Endeavour Mining Corporation (TSX:EDV) and Teranga announced that they have entered into a definitive agreement whereby Endeavour will acquire all of the issued and outstanding securities of Teranga. In their joint press release, the companies stated that the combination would “leverage Endeavour’s West African operating model to extract significant financing, operating and capital synergies across all of Teranga’s assets [including] Sabodala-Massawa, in Senegal, to become a flagship asset alongside Ity and Houndé with the potential to become a top tier asset given its high grade, low cost, long mine life, large reserves and significant exploration potential.” The Company is in discussions with Teranga regarding the 5 proposed targets within Bransan Lot C on whether the Company will participate in the exploration, which will include funding 20% of proposed work costs, or elect to convert to a 1.5% net smelter royalty.
Inventronics earns $284,000 in Q3
2020-11-26 14:08 MT - News Release
Mr. Dan Stearne reports
INVENTRONICS ANNOUNCES 2020 Q3 FINANCIAL RESULTS
Inventronics Ltd. has released its unaudited third quarter 2020 financial results.
For the three months ended Sept. 30, 2020, Inventronics reported net earnings of $284,000, or 6.5 cents per share, on revenue of $2.05-million compared with net earnings of $192,000, or 4.4 cents per share, on revenue of $1,898,000 for the three months ended Sept. 30, 2019. For the nine months ended Sept. 30, 2020, Inventronics reported net earnings of $699,000, or 15.9 cents per share, on revenue of $4,685,000 compared with net earnings of $346,000, or 7.9 cents per share, on revenue of $4,708,000 for the nine months ended Sept. 30, 2019. The improvement in net earnings for both the three- and nine-month periods of 2020 was positively impacted by the government support received through the Canada emergency wage subsidy program, which amounted to $73,000 and $363,000, respectively.
SELECTED FINANCIAL INFORMATION
(in thousands of dollars, except per-share amounts)
Income highlights Three months ended Nine months ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2020 2019 2020 2019
Revenue $2,050 $1,898 $4,685 $4,708
EBITDA 344 261 887 538
Net earnings 284 192 699 346
Basic earnings per share (in cents) 6.5 4.4 15.9 7.9
Further information about the financial results of the corporation can be found in the corporation's unaudited interim financial statements for the quarter ended Sept. 30, 2020, and accompanying management's discussion and analysis, which have been filed on SEDAR.
About Inventronics Ltd.
Inventronics designs and manufactures custom enclosures and other products for an array of customers in the telecommunications, electric utility, cable television, oil and gas, electronics, and computer service industries in North America. The corporation owns its ISO 9001-registered production facility in Brandon, Man.
Shares of Inventronics trade on the TSX Venture Exchange under the symbol IVX.
Cerrado gold breakdown and where Capella Minerals can benefit:
BBA.P Float – 45,605,403 / 8.31 (rollback amount) = 5,488,014
BBA.P Halted Price - $0.05 X 8.31 (rollback price) = 41.55 cents
Cerrado Gold Company Presentation – 55,453,780 Shares (Private)
November Private Placement - $25 million(price not announced) Assuming same price as rollback
Placement Shares(Estimate) $25,000,000 / $0.41 = 60,975,609
Capella Minerals Share Holdings(Estimate) based on $2.25 million at raise price
CMIL Holdings: $2,250,000 / $0.41 = 5,487,804
Estimated common shares without options or warrants:
BBA.P(5,488,014) + Cerrado Gold (55,453,780) + Nov PP(60,975,609) + CMIL(5,487,804) = 127,405,207, lets round to 127.5 million for sake of ease
Estimated revenue from their November company presentation: https://c0fa6392-d308-44dd-a6f0-35d71f381b56.filesusr.com/ugd/c9f131_6af33570b7fc4c99b47de9b4244869a1.pdf
Page 5 information: NPV of $432 million USD @ $1550oz USD, today gold is at $1800.
Estimated production of 45,000 to 55,000 ounces of gold per year with a AISC of $900 to $1100 per ounce.
For low estimates, lets use their $1550 price and lower output of 45,000 ounces and a AISC of $1100:
$1,550 - $1100 = $450 net income per ounce X 45,000 ounces = $20,250,000 USD Estimated net income for 2021.
Estimated earnings: $20,250,000 / 127,500,000 = $0.1588 or $0.16 USD (convert to CAD) X 1.30 = $0.208 or $0.21 earnings per share, estimated at low output.
Compare this to a similar producer like F.V(Fiore Gold) who produced 46,000 ounces of gold in it’s fiscal year and earned close to $9 million USD with a float of 99 million shares, it trades around $1.50 CAD.
Estimated target price for Cerrado Gold (CER) should be around the $2 mark, assuming a minimum gold producer multiple of 10 times. How does it affect Capella Minerals? The company should technically be holding over $10 million dollars in stock value by the end of 2021, large than the current market cap and not taking into consideration it’s current cash position, 6 projects being worked on, or the millions of shares held in Ethos Gold. Again, this is all an estimate until we get the actual placement numbers, which should be out anytime.
Secondary Note: Cerrado Gold will have a webinar on December 8th 2020, those that wish to listen to this, join up here - https://www.redcloudfs.com/rcwebinar-cer/
Crux Investor Interview with Eric Roth, President & CEO of Capella Minerals (TSX-V:CMIL)
Interview link:
Axmin Inc. November 12th 2020 Company Presentation - http://www.axmininc.com/images/AXMIN%20INC%20AGM%20PPT.pdf
Interesting history on Domain Lake, this is the JV between Yamana Gold and Capella Minerals:
So Rolling Rock hit some good grades in 2008, then they were acquired by Mega Precious Metals in 2010, which was when acquired by Yamana in 2015 and the property is still being worked on today.
https://www.manitoba.ca/iem/geo/gis/activity/yamana_gold_inc_domain_oxford_lake.html
https://www.benzinga.com/press-releases/10/09/c489739/mega-and-rolling-rock-announce-business-combination
https://ca.proactiveinvestors.com/companies/news/106420/yamana-gold-to-buy-mega-precious-metals-for-175-million-61151.html
Cadillac Ventures Inc. Announces the Results of Its Annual General and Special Meeting
2020-11-12 06:02 MT - News Release
TORONTO, ON / ACCESSWIRE / November 12, 2020 / Cadillac Ventures Inc. (the "Corporation") (TSXV:CDC)(OTC PINK:CADIF) ("Cadillac") is pleased to announce the results of the Corporation's Annual General and Special Meeting ("AGM") of Shareholders which was held on November 11th at the Corporation's head office in Pickering.
The Corporation is pleased to report that all items that were set out in the Notice of the Meeting were duly passed at the AGM including the approval of the sale of the Thierry Mine Project, the appointment of Dale Matheson Carr-Hilton Labonte LLP., as the Corporation's Auditor, the re-approval of the Corporation's current stock option plan, the approval to grant the directors of the Corporation the ability to undertake a consolidation of the Corporations share capital at a range between a one for three and a one for ten basis, and the election of the Directors (Norman Brewster, Neil Novak, Maurice Stekel and Rahim Allani).
Contact Information
For more information regarding Cadillac, please visit the Company's website www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 905 837 2000.
Back to a 2 year high. going to unload some stock to get my cost out and a small profit, ride the remaining shares. Redeploying into CMIL.V as this is NDR.V trading under a new symbol in order to reflect their recent money raise, exit of Argentina gold/silver/copper assets and heading to Scandinavia which has much better chances of success. Target on CMIL is $0.20 by the end of January 2021. If you look at my past pics on KGC, PST, RTM, POR, etc, I have been 100% accurate on mining stocks this year. But CMIL is the most superior in terms of multiple assets, several million dollars raised, clean books, liquidity from owning shares in Ethos Gold and Cerrado Gold(new deals).
https://capellaminerals.com/investors/presentations/
Cerrado Gold won't show up on the presentation because it was just recently announced. See prior news releases on their website.
New Dimension to change name to Capella Nov. 11
2020-11-06 07:59 MT - News Release
Mr. Eric Roth reports
NEW DIMENSION ANNOUNCES NAME CHANGE TO CAPELLA MINERALS
After having received regulatory acceptance, the following corporate changes will take effect at market open on Tuesday, Nov. 10, 2020, for New Dimension Resources Ltd.
Change of Name and New Trading Symbol: The Company will change its name to Capella Minerals Limited and will commence trading under its new name and stock trading symbol TSX.V-CMIL.
The Company has no plans to change its current share structure, however, the Company's new CUSIP will be 13960M102 and ISIN CA13960M1023. The Company's new website will also be available at www.capellaminerals.com
The Capella Minerals name reflects the next stage of the Company's growth strategy with a focus on the discovery of high-grade gold and base metals deposits in Canada and Scandinavia. The Company's active exploration portfolio includes three high-grade gold projects - the Domain and Savant Lake Joint Venture's in Canada, plus the recent Southern Gold Line acquisition in Sweden - and two high-grade copper assets - Lokken and Kjoli - located in past-producing mining districts in Norway.
Eric Roth, New Dimension's President and CEO, commented today: "Given the Company's renewed focus on precious and base metals projects located in the Northern Hemisphere, the selection of the name Capella Minerals going forward is most appropriate. I am particularly excited by the potential for near-term discovery at both our Lokken and Kjoli projects, given the existence of numerous untested targets (including "walk-up" drill targets) along strike from previous mining operations. In addition, the Company holds direct interests in three high-grade gold projects - the Yamana Gold JV at Domain (Manitoba), the Ethos Gold JV at Savant Lake (Ontario), and our 100% interest in the Southern Gold Line project (Sweden) - all with significant upside potential.
These exciting new brownfields projects and existing gold projects complement the Company's invigorated growth strategy of positioning itself for the current buoyant gold market as well as the potential uplift in future economic demand for attractive base metals, especially copper which is critical to the clean energy sector. I look forward to keeping the market informed as we move projects towards drilling and discovery."
Incentive Stock Option Grant
The Company also reports that the Board of Directors has granted an aggregate 4,980,000 incentive stock options to directors, officers, employees and key consultants to the Company. The stock options are exercisable at a price of $0.12 per share and will have a term of 3 years, expiring on November 4, 2023. Each stock option will allow the holder to purchase one common share of the Company. All stock options granted are subject to staged vesting periods.
Qualified Persons and Disclosure Statement
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company's President & CEO, a director and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 25 years of experience in international minerals exploration and mining project evaluation.
About New Dimension Resources Ltd
New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's precious metals focus is on the discovery through exploration of high-grade gold deposits on its recently optioned Southern Gold Line Project (Sweden), as well as on its active Joint Ventures with Ethos Gold Corp. at Savant Lake (Ontario) and Yamana Gold Inc. at Domain (Manitoba), and the divestiture of Sierra Blanca (Argentina) to Austral Gold Ltd. The Company's base metals focus is on the discovery of high-grade copper-rich VMS deposits on the district-scale land positions around the past-producing Lokken and Kjoli mines in central Norway. Field activities are underway on all projects, with the primary focus being to advance priority targets to drilling.