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Spoke to management and a new corporate website & presentation will be out shortly. This can help clarify the assets that New Dimension Resources owns. For a $11 million market cap company, if you compare it’s value to other gold/metal exploration companies, you’ll see how severely undervalued it is.
Based on the most recent news and interview with CEO Eric Roth:
- - $3 million CAD in cash
- - (Savant Lake) - 2 million shares of ECC.V with cash (this has to be repeated for a few years, plus work commitments, 8 million shares total plus cash). ECC trades in the mid 20 cent range.
- - (2 sold Argentina Assets) - 2.25 million shares of Cerrado Gold (Will trade around $0.50 based on news from their capital pool (BBA.P BB1 Acquisition Corp)
- -Yamana joint venture with a very advanced, high grade gold project, 30% interest
- -100% interest in 3 Scandinavian gold/metal projects that are next to old mines, meaning there is already work done, giving a higher chance of success. All 3 to be worked on.
- -$800K work commitment / cash payment from AGLD.C for 80% of an Argentina asset, still retaining 20% which can be bought for $2.3 million
So when you add up all the value and potential, New Dimension Resources should take at least double it’s current market cap before any results are even in. Cash equivalent value from ECC/Cerrado shares, plus what AGLD paid and money raised, is easily more than half of the current market cap.
Here is some additional information to look at:
From Yamana this week in their MD&A and new company presentation: Recently signed an exploration agreement with the Bunibonibee Cree Nation. Planning is underway to guide the consultation process for an initial field program in Q4 and an aggressive exploration effort in 2021
Link: https://s22.q4cdn.com/899716706/files/20201101-November-Corporate-Summary-FINAL.pdf
Ethos recent company presentation that talks about Savant Lake: https://ethosgold.com/wp-content/uploads/2020/10/ECC-October-2020.pdf
AGLD website (does not have an update presentation, but talks about the company): https://www.australgold.com/
Mammoth Secures Extension to Surface Access Agreement, Provides Update on Activities at its Tenoriba Gold Property, Mexico
Toronto, Canada - TheNewswire - November 5, 2020 - Mammoth Resources Corp. (TSXV:MTH), (OTC:MMMRF), (the "Company", or "Mammoth") is pleased to announce that it has reached agreement to extend surface access for a two year period with one of the two communities (ejidos) which oversee surface access to its Tenoriba gold-silver project located in the Sierra Madre precious metal belt, southwestern Chihuahua State, Mexico. Mammoth is scheduled to meet with the administrative board and members of the second ejido in the next two weeks and remains confident that this ejido will also be supportive of a similar two year extension to surface access thereby enabling Mammoth to advance exploration activities on its Tenoriba property.
While advancing these surface access permits, and while Mammoth awaits approval of the drill permit for up to 139 drill sites submitted in August, the Company has been active in advancing a number of initiatives to position the Company and the Tenoriba project with enhanced confidence towards the financing and execution of a substantial drill program planned to commence in early 2021.
Please note that Mammoth President and CEO Thomas Atkins will be part of a speaker panel at this week's Mines and Money 5@5 focused on gold, commencing today, Thursday November 5 th at 5:00 pm Eastern Standard time . The speaker panel will provide the latest gold mining updates, and discuss the impact of the US election on gold, commodities and mining in general. P lease feel free to click on the following link: https://hubs.ly/H0z87VG0 to access this panel discussion. Please register in advance of the 5:00 pm start time.
Thomas Atkins, President and CEO of Mammoth commented on recent activities at Tenoriba, stating: "We're encouraged by the support and cooperation of the first of the two ejidos in their extending surface access at Tenoriba for the next two years. Mammoth is working closely with their neighbour ejido to arrive at a similar agreement. Meantime, Mammoth is advancing various initiatives that believe should give us the highest level of confidence in the opportunities at Tenoriba in preparation to advance a substantial diamond drill program planned to commence in early 2021. Mammoth, having reviewed the geological information generated from activities over the past 21 months, intends to enhance this review by incorporating an independent assessment of this same information by a highly experienced geological consultant and consulting firm with extensive experience in similar metallogenic systems as exists at Tenoriba. Mammoth believes this review combined with other activities it has underway has the potential to heighten the understanding of exploration opportunities at Tenoriba and thereby assist in raising capital, or advancing other opportunities to advance development at Tenoriba."
Activities currently underway at Tenoriba include:
1. Engaging the services of a PhD geologist with extensive experience in Low, Intermediate and High Sulphidation epithermal precious metal systems to review all historical data from the Tenoriba property, including that produced in the past 21 months, and to include time at the project reviewing surface geology and historic drill core. The objective of this review is to assist in the review of the geological prospectively at Tenoriba, including recommendations on future exploration opportunities and activities.
2. Mammoth is advancing the 3D interpretation of geophysical and topographic data currently available from its 2015 IP-Mag surface geophysical survey with the objective of enhancing the understanding of potential control features evidenced in this data which appear to control mineralization intersected in 2008 and 2017-18 diamond drilling. Past geophysical lines were run north-south and the goal of the 3D interpretation is that this may assist in identifying potential control structures which may exist at high angles to these geophysical lines and as a result may not be observable in the current 2D north-south interpretation of the data produced from this survey. Should this 3D interpretation assist in understanding these control features better, this same 3D interpretation will be employed on additional geophysical work planned at Tenoriba.
3. Mammoth is planning an additional up to 72-line kilometres of IP-Mag surface geophysics at Tenoriba. The 2015 geophysical survey covered approximately 50 percent of the 5 to 6 kilometre strike length of surface mineralization sampled at Tenoriba, including only 3 lines covering 200 metres of the El Moreno area. A 1.2 kilometre gap exists between these 3 El Moreno lines and the area surveyed in the central portion of the mineralized trend. It was below the El Moreno area where coarse gold nuggets were recently panned (refer to following link: http://www.mammothresources.ca/i/maps_figures/10.jpg ). As part of this survey additional geophysical coverage is planned further east and west of the eastern and western most areas covered by the past survey where the trend of mineralization remains open.
Mammoth looks forward to providing additional information on its activities at Tenoriba in the coming weeks.
The Company has issued 100,000 stock options at the current market price to a third party contractor, activities of which are unrelated to any geological or evaluation activities.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President and CEO at:416 509-4326.
Cadillac, KFG agree to merge
2020-11-04 06:15 MT - News Release
See News Release (C-CDC) Cadillac Ventures Inc (2)
Mr. Norman Brewster of Cadillac reports
CADILLAC VENTURES INC. AND KFG RESOURCES LTD. AGREES TO PURSUE AN AMALGAMATION
Cadillac Ventures Inc. and KFG Resources Ltd. have signed a letter of intent to pursue an amalgamation, with the support of both boards, subject to approval by shareholders of each company and TSX Venture Exchange approval. The amalgamation will proceed with an exchange of KFG common shares for Cadillac common shares on a one for one basis.
The companies believe that the amalgamation will create significant value for both shareholder groups. As such, the boards of directors of both companies have agreed specific terms of the proposed transaction will be determined based on corporate, tax and securities laws, and other considerations. The principals of both Cadillac and KFG will provide support agreements for the transaction.
Following completion of the amalgamation, Cadillac will proceed to effect a consolidation of its shares, expected to be on a 1:3 basis.
The directors of KFG wish to thank their shareholders for their support during the downturn of the oil market over the past several years. They believe that the proposed transaction with Cadillac can create a new and more impressive company with diversified assets, cash flows and reduced costs to make the company's oil production more lucrative. Both Mr. Haney and Mr. Grassi approve of the transaction and urge all KFG shareholders to follow suit.
The directors of Cadillac believe that the cash flow provided by the oil revenue related to this transaction will allow the company to be more effective in the review and acquisition of additional mineral properties. The directors urge Cadillac shareholders to support the transaction.
© 2020 Canjex Publishing Ltd. All rights reserved.
Cadillac Ventures Inc. and KFG Resources Ltd. Agrees to Pursue an Amalgamation
TORONTO, ON / ACCESSWIRE / November 4 , 2020 / Cadillac Ventures Inc. (TSXV:CDC)(OTC PINK:CADIF) and KFG Resources Ltd. (KFG) (KFGRF) have signed a letter of intent to pursue an amalgamation, with the support of both boards, subject to approval by shareholders of each company and TSXV approval. The amalgamation will proceed with an exchange of KFG common shares for Cadillac common shares on a one for one basis.
The companies believe that the amalgamation will create significant value for both shareholder groups. As such, the boards of directors of both companies have agreed specific terms of the proposed transaction will be determined based on corporate, tax and securities laws and other considerations. The principals of both Cadillac and KFG will provide support agreements for the transaction.
Following completion of the amalgamation, Cadillac will proceed to effect a consolidation of its shares, expected to be on a 1 for 3 basis.
The directors of KFG wish to thank their shareholders for their support during the downturn of the oil market over the past several years. We believe that the proposed transaction with Cadillac can create a new and more impressive company with diversified assets, cash flows and reduced costs to make our oil production more lucrative. Both Mr. Haney and Mr. Grassi approve of the transaction and urge all KFG shareholders to follow suit.
The directors of Cadillac believe that the cash flow provided by the oil revenue related to this transaction will allow the company to be more effective in the review and acquisition of additional mineral properties. The directors urge Cadillac shareholders to support the transaction.
Contact Information
For more information regarding Cadillac, please visit the Company's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at 416 970-3223.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
SOURCE: Cadillac Ventures Inc.
View source version on accesswire.com:
https://www.accesswire.com/614345/Cadillac-Ventures-Inc-and-KFG-Resources-Ltd-Agrees-to-Pursue-an-Amalgamation
New Dimension Resources October 30th 2020 Interview & Technical Charts
http://www.kereport.com/2020/10/30/new-dimension-resources-a-renewed-focus-on-gold-and-copper-in-sweden-and-norway-and-jv-deals-on-the-canadian-properties/
COMPANY UPDATES FROM MANAGEMENT – FRI 30 OCT, 2020
NEW DIMENSION RESOURCES – A RENEWED FOCUS ON GOLD AND COPPER IN SWEDEN AND NORWAY, AND JV DEALS ON THE CANADIAN PROPERTIES
Eric Roth, President and CEO of New Dimension Resources (TSX.V: NDR) joins me for a comprehensive discussion on the new focus of exploration in Sweden and Norway. After selling the Company’s projects in Argentina and acquiring the 3 Scandinavian projects, 1 in Sweden and 2 in Norway, the Company has plans start drilling by next year.
We also discuss the 2 Canadian projects that are under joint ventures with Yamana and Ethos Gold. If you have any follow up questions for Eric please email me at Fleck@kereport.com.
Technicals are showing a 96% overall buy rating: https://www.barchart.com/stocks/quotes/NDR.VN/opinion
Cerrado’s resource inventory in Argentina reaches one million ounces of gold
https://www.mining.com/cerrados-resource-inventory-in-argentina-reaches-one-million-ounces-of-gold/
MINING.COM Staff Writer | October 29, 2020 | 5:15 am Exploration Latin America Gold
Cerrado Gold, a privately-owned Toronto-based mining and exploration company, announced that it has entered into a binding letter of intent with New Dimension Resources (TSXV: NDR) to acquire 100% of its Argentine subsidiary Minera Mariana Argentina S.A.
To go ahead with the deal, Cerrado Gold will have to pay a purchase price of C$2.25 million payable in shares of Cerrado.
The main assets owned by Minera Mariana are the Las Calandrias and Los Cisnes projects, located in the southern Santa Cruz province. In total, the projects consist of approximately 60,400 hectares with the bulk of the landholdings on the property adjacent to Cerrado’s Minera Don Nicolás gold mine.
According to the Canadian miner, the acquisition of these projects implies the addition of 379,000 ounces of gold and six million ounces of silver in the indicated category and 42,000 ounces of gold and 401,000 ounces of silver in the inferred category, directly adjacent to Don Nicolás’ Escondido deposit.
“The additional gold resource base increases our total resource inventory in the region to just under one million ounces in Argentina,” Mark Brennan, Cerrado’s co-chairman and CEO, said in a media statement. “This transaction will support, not only additional resources for the Don Nicolás mill but also support our ongoing review of the potential to use ore leaching of lower grade materials at the north of our property. We expect to complete these studies and complete an economic assessment early in the new year with the potential to increase our annual production rate by 20-30K ounces per year.”
Note: As per NDR's news release from yesterday, Cerrado Gold will be listing either on the TSXV or TSX by the end of 2020.
New Dimension Signs Binding Letter of Intent with Cerrado Gold for Sale of Minera Mariana Argentina S.A.
2020-10-28 07:30 MT - News Release
New Dimension Signs Binding Letter of Intent with Cerrado Gold for Sale of Minera Mariana Argentina S.A.
Canada NewsWire
VANCOUVER, BC, Oct. 28, 2020
TSX-V: NDR
VANCOUVER, BC, Oct. 28, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV:NDR) (the "Company", New Dimension" or "NDR") is pleased to announce that it has entered in to a Binding Letter of Intent ("LOI") with Cerrado Gold Inc. ("Cerrado") for the sale of its 100% interest in its Argentine subsidiary, Minera Mariana Argentina S.A. ("Minera Mariana")(the "Transaction"). Minera Mariana is owner of the Las Calandrias and Los Cisnes gold-silver projects, in addition to an extensive portfolio of exploration concessions in the Eastern Deseado Massif, Santa Cruz Province, southern Argentina. The transaction is subject to successful completion of due diligence and is expected to close on or around November 30, 2020.
Cerrado is owner and operator of the Minera Don Nicolas ("Don Nicolas") gold mine, a 1,000 tonne per day gold mining/processing facility located immediately adjacent to Minera Mariana's Las Calandrias project.
Highlights of the Transaction
New Dimension will receive USD 50,000 in cash within 10 days of signing of the Binding LOI.
New Dimension will receive CAD 2.25 million in Cerrado shares. The exact price and number of shares to be issued will be calculated based on the price of Cerrado's shares as determined in anticipation of a concurrent financing with its planned listing on either the Toronto Stock Exchange or TSX Venture Exchange (expected to be completed by December 31, 2020).
New Dimension will retain indirect exposure to future exploration and operational success at both Las Calandrias and Don Nicolas through its shareholding in Cerrado.
Eric Roth, New Dimension's President and CEO, commented today: "I am very pleased to be announcing today the sale of our Argentine subsidiary, Minera Mariana, to Cerrado Gold. This agreement will allow the Las Calandrias project, in particular, to benefit greatly from the exploration and operational expertise of the Don Nicolas team, with its geographical proximity to Don Nicolas' current mining/processing operations at Paloma and Martinetas also providing Las Calandrias with synergies for potential future development.
With the divestiture of Minera Mariana, the Company will now be able to focus its activities on advancing its recently acquired Scandinavian projects - the high-grade copper-rich Løkken and Kjøli massive sulfide projects in Norway, and the Southern Gold Line orogenic gold project in Sweden - as well as its two Canadian high-grade gold Joint Ventures - Domain and Savant Lake. With the Company's renewed focus on a quality mix of high-grade gold and copper projects in favourable jurisdictions within the northern hemisphere, I look forward to keeping the market informed as we advance our projects towards drilling."
Las Calandrias Project Overview
Las Calandrias is an advanced-stage gold-silver project located immediately adjacent to Don Nicolas' mining operations at Paloma and Martinetas. The project currently contains two main mineralized zones – i) the bulk-tonnage, dome-hosted Calandria Sur deposit and ii) the high-grade Calandria Norte and Morena vein/breccia zones. The Calandria Sur zone is located along the southern limit of the Company's claim block and extends across this boundary into Don Nicolas' claim block (where it is known as the Escondido mineralized zone). The high-grade Calandria Norte and Morena gold-silver vein/breccias lie along NE-trending structures in the central portion of the Las Calandrias claim block and were the focus of the Company's most-recent (2018) drilling. Further potential still exists to expand the known mineralized zones at Calandria Norte, Morena, and the sub-parallel Despreciada/Nido vein zones through drilling.
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.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
__________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
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 Løkken and Kjøli mines in central Norway. Field activities are underway on all projects, with the primary focus being to advance priority targets to drilling.
New Dimension Provides Update on Scandinavian Gold and Copper Projects
2020-10-28 07:00 MT - News Release
New Dimension Provides Update on Scandinavian Gold and Copper Projects
Canada NewsWire
VANCOUVER, BC, Oct. 28, 2020
TSX-V: NDR
VANCOUVER, BC, Oct. 28, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", New Dimension" or "NDR") is pleased to report that it has successfully completed its on-site due diligence on the Løkken and Kjøli base metal projects in Norway and the Southern Gold Line project in Sweden (collectively, the "Scandinavian Projects"). The Company holds the right to acquire 100% interests in the Scandinavian Projects pursuant to an option and purchase agreement with EMX Royalty Corporation (NYSE American: EMX; TSXV: EMX)(Figure 1) (refer to the Company's press release dated August 11, 2020). The Company is also pleased to report that field crews have been mobilized to all three projects with the objective of advancing priority targets to drilling.
Project Highlights
New Dimension has successfully completed on-site due diligence on the district-scale land holdings optioned from EMX around the past-producing Løkken and Kjøli copper-zinc(-silver-gold) deposits in central Norway and the Southern Gold Line gold project in central Sweden.
Field crews have been mobilized to all three Scandinavian Projects, with the immediate focus being on:
Prioritizing high-grade copper-rich massive sulfide ("VMS") targets at both Løkken and Kjøli for drilling. Previous targeting focused on the locations of mineral occurrences and high-conductivity anomalies in airborne electromagnetic data, with the current work program further refining these targets through the acquisition of detailed ground magnetic data and select soil geochemical sampling. Approximately 4.5km of the prospective 15km strike length at Kjøli has now been covered by detailed ground magnetic data (Figures 2 & 3). Field crews were mobilized to Løkken in early October to undertake similar field programs.
Planning is underway for a "bottom of till" auger drill program on the Rötjärnen claim at Southern Gold Line, where locating the source of gold-mineralized boulder trains remains a high priority. In parallel, a low-cost regional Bulk Leach Extractable Gold ("BLEG") sampling program continues on the 50,000 Ha property.
The Company is adequately funded to advance the Scandinavian Projects to drilling after the completion of its recent financing.
The Company intends to complete a technical report in compliance with National Instrument 43–101 ("NI 43-101") on one of the Scandinavian Projects; a technical report for Løkken has now been initiated and is expected to be filed by mid-November.
Eric Roth, New Dimension's President and CEO, commented today: "I am very pleased to be reporting that our on-site due diligence of the Scandinavian Projects has been completed, and that field crews are now busy working on the advancement of our priority targets to drilling. I am particularly excited by the potential for new discovery at both Løkken and Kjøli, given that existing geological and geophysical datasets suggest numerous untested anomalies (including some "walk-up" drill targets) along strike from previous mining operations. At Southern Gold Line, our immediate focus is to locate the source of gold-mineralized boulder trains in the southernmost Rötjärnen claim. In parallel, a low-cost reconnaissance BLEG sampling program is being undertaken across the entire property. Having been on-site at all three properties, I can personally attest to the potential for significant discovery and upside therein for New Dimension.
Aside from short term news flow from our three Scandinavian properties, I am also looking forward to keeping the market informed on advances made at our two high-grade gold Joint Venture projects - Domain (Yamana Gold JV) and Savant Lake (Ethos Gold JV) – as well as the recent Sierra Blanca divestiture (Austral Gold). The Company is now entering a phase of unprecedented exploration activity on a quality mix of high-grade gold and base metals projects."
Link to figures:
https://newdimensionresources.com/site/assets/files/13136/2020_10_scandinavia_acquisition.pdf
Scandinavian Project Overview
Kjøli Copper-Zinc(-Silver-Gold) VMS Project, Norway
The Kjøli copper-zinc(-silver-gold) VMS project represents a district-scale (120 square kilometres, or 12,000 Ha) land position on the northern extension of the greater Røros district, which saw mining for over 300 years beginning in the mid-1600's. The Kjøli claims covers approximately 15 km of prospective stratigraphy extending north from the past-producing Killingdal mine, which operated from 1674 to 1986 and produced some 2.9 Mt @ 1.7% Cu + 5.5% Zn1 from one of Europe's deepest (1.4km) underground mines, and also covering the former Kjøli mine and numerous mineral occurrences in between. Recent field mapping and airborne geophysical surveys have identified numerous exploration targets on the Kjøli claim block that have not yet been followed up. In addition, a regional-scale thrust fault has superimposed post-mineralization sandstones over the mineralized volcano-sedimentary sequences in the western portion of the property, and the potential for the discovery of buried massive sulfide deposits beneath the thrust remains high.
Field activities were initiated at Kjøli during September with ground magnetic and soil sampling surveys having now been completed over approximately 4.5km of the 15km of the prospective stratigraphy which hosts the historic copper mines and key mineral occurrences. Nearly 200 line kilometres of ground magnetic data have been acquired to date and 400 partial leach samples taken. Data from the ground magnetic survey is currently in the process of being processed and interpreted, with results from samples taken from the geochemical survey pending.
1 Historic production figures are from Birkeland, A. (1986) Mineralogisk og geokjemisk undersokelseav Killingdal gruver, Sor-Trondelag. M. Scient. Thesis, University of Oslo in Geological Survey of Finland, Special Paper 53 pg. 86.
Løkken Copper-Zinc(-Silver-Gold) Project, Norway
The Løkken copper-zinc(-silver-gold) project is located approximately 50km SW of the regional centre of Trondheim in central Norway. The Løkken claim block covers a total area of 210 square kilometres (21,000 Ha) and includes the former Løkken underground mine (which closed in 1987 in response to low metals prices), the associated historical mineral processing facilities, plus multiple satellite bodies of mineralization with varying degrees of development. Løkken is considered to be one of the largest ophiolite-hosted Cypress-type VMS deposits by tonnage to have been developed in the world and produced around 24Mt @ 2.3% Cu and 1.8% Zn (plus silver and gold credits)2. Historical records also suggest incomplete extraction of all high-grade copper-zinc blocks in the underground mining operation.
Field work is currently in progress at Løkken and includes the undertaking of ground magnetic and soil geochemical surveys over key regional target areas, commencing with the Dragset target (Figures 4 & 5). In parallel, efforts to obtain and reprocess existing regional airborne electromagnetic datasets (key for modelling buried massive sulfide mineralization), together with the digitizing of former underground mine plans for Løkken, are in progress. The Company expects to be able to continue undertaking field activities at Løkken until the arrival of winter snows (likely late November), with the permitting of drill targets expected to be undertaken immediately thereafter.
2 Historic production values quoted for Løkken are from Grenne T, Ihlen PM, Vokes FM (1999) Scandinavian Caledonide metallogeny in a plate-tectonic perspective. Mineral Deposita 34:422–471, Neither NDR or EMX have performed sufficient work to verify the published data reported above, but both Companies believe this information to be considered reliable and relevant.
Southern Gold Line, Sweden
The Southern Gold Line project is located in north-central Sweden and consists of 500 square kilometres (50,000ha) of mineral claims located in the immediate vicinity of Dragon Mining Ltd's Fäboliden development project and Svartliden gold mine3 (Figure 6). The Southern Gold Line exploration concessions cover areas with similar geologic and structural settings to the Fäboliden deposit (orogenic gold deposits located at, or near, granitoid-greenstone contacts). Host rocks to the high-grade gold mineralization are Paleoproterozoic in age. Reconnaissance sampling and mapping programs are ongoing, with initial BLEG samples collected across portions of the licenses showing multiple areas with enrichment of gold in stream sediments. Planning for bottom of till / top of bedrock auger drilling in the highly prospective southern Rötjärnen claim, where gold mineralized boulder trains have been identified on surface, is underway with auger drilling currently expected to be undertaken in late 2020.
3 References made to nearby mines and analogous deposits provide context for the Southern Gold Line project but are not necessarily indicative that the project hosts similar tonnages or grades of gold mineralization.
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.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
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 Løkken and Kjøli mines in central Norway. Field activities are underway on all projects, with the primary focus being to advance priority targets to drilling.
Mammoth Resources Corp New Company Presentation & Technical Chart Update
October 2020 Company Presentation: http://www.mammothresources.ca/i/pdf/Mammoth-Corporate-Presentation.pdf
Barcharts 100% Buy Rating: https://www.barchart.com/stocks/quotes/MTH.VN/opinion
Ethos Gold agreement for Savant Lake property
2020-10-22 14:56 MT - Property Agreement
The TSX Venture Exchange has accepted for expedited filing documentation an option agreement dated Sept. 1, 2020, between the company and New Dimension Resources Ltd., whereby the company is acquiring a 70-per-cent interest in certain mining claims in Ontario, known as the Savant Lake gold project. Consideration is as follows:
On signing, $50,000 cash and two million common shares;
On Sept. 20, 2021, $50,000 cash, two million shares and $500,000 in work commitments;
On Sept. 20, 2022, $50,000 cash, two million common shares and $1-million in work commitments;
On Sept. 20, 2023, $50,000 cash, two million common shares and $500,000 in work commitments.
Additionally, in the event that a mineral resource in excess of one million ounces of gold is defined on the property, Ethos will make payments to New Dimension of $50,000 cash and two million common shares of Ethos.
For further information, please refer to the company's news release dated Sept. 21, 2020.
© 2020 Canjex Publishing Ltd. All rights reserved.
Braveheart Resources and Cadillac Ventures Enter into Definitive Agreement for Purchase and Sale of Thierry Mine Project
2020-10-21 07:00 MT - News Release
CALGARY, AB and TORONTO, ON / ACCESSWIRE / October 21, 2020 / Braveheart Resources Inc. (BHT) (RIINF) ("Braveheart") and Cadillac Ventures Inc. (TSXV:CDC) (OTC PINK:CADIF) ("Cadillac") are pleased to announce that they have entered into a definitive share purchase agreement (the "Definitive Agreement") with respect to the previously announced (see press release of August 18, 2020) purchase by Braveheart of a 100% interest in the Thierry Mine Project (the "Thierry Project") near Pickle Lake, Ontario from Cadillac.
Under the terms of the agreement, Braveheart will acquire 100% of the shares of Cadillac's wholly-owned subsidiary Cadillac Ventures Holdings Inc., which owns Cadillac's interest in the Thierry Project, for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. The acquisition of the Cadillac Ventures Holdings includes approximately $405,000 in cash, which supports closure obligations associated with the property.
The Thierry Project is a past-producing copper and nickel mine located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size and contains a NI 43-101 mineral resource. There is a municipal airport, nearby rail system and provincial power grid within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.
Cadillac has scheduled a shareholder meeting for November 11, 2020 for the purpose of obtaining the approval of Cadillac shareholders for the sale of the Thierry Project. The transaction is expected to close in November 2020 and is subject to regulatory and third party approvals and customary conditions precedent.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart's main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver.
About Cadillac Ventures Inc.
Cadillac Ventures Inc. is an exploration company listed on the TSX-V. Following the sale of Cadillac Ventures Holdings Inc. Cadillac's asset is the Burnt Hill Tungsten property located in New Brunswick, which contains a NI 43-101 mineral resource. Cadillac is presently valuating other mineral opportunities.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
1-403-512-8202
admin@braveheartresources.com
Website: www.braveheartresources.com
Contact Information
Cadillac Ventures Inc.
Norman Brewster
President & Chief Executive Officer
1-905-837-2000
norman@cadillacventures.com
For more investor information, please contact Braveheart at:
Kevin Shum
O: +1-647-725-3888 Ext 702
M: +1-604-376-0323
E: kevin@jeminicapital.com
E: info@jeminicapital.com
Mammoth visits Mexico, talks to communities by Tenoriba
2020-10-19 09:07 MT - News Release
Mr. Thomas Atkins reports
MAMMOTH PROVIDES UPDATE ON ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, MEXICO
Mammoth Resources Corp. has provided an update on its activities related to the transfer of operations and 100-per-cent ownership of the Tenoriba gold-silver project located in the Sierra Madre precious metal belt, southwestern Chihuahua, Mexico. Following the notice given to Mammoth by Minera Centerra SA de CV, the Mexican subsidiary company of Centerra Gold Inc., whereby Mammoth announced on Sept. 22, 2020, that Centerra was ceasing exploration activities in Mexico, including at Tenoriba, Mammoth has been actively transferring project information and surface access agreements to Mammoth. Activities since the date of the Centerra notice include: (1) travel to Mexico to attend a technical review of exploration activities and data produced by Centerra during its 21 months operating the option agreement and the transfer of these data to Mammoth, and (2) reintroduce itself to community members and assure voting members of influence within the ejido and executive/administrators that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period thereby facilitating surface access for a significant future drill program.
Thomas Atkins, president and chief executive officer of Mammoth, commented on Centerra ceasing exploration activities in Mexico, stating: "Travelling back to the project area, myself and Richard Simpson, VP exploration at Mammoth, received a warm welcome after being absent the region the past 20 months. It was terrific seeing friends and acquaintances, and discussing plans and the importance of our working together going forward for our mutual benefits. I feel confident this message of co-operation was well understood and embraced, and we look forward to returning again shortly as we act on some of our plans to advance Tenoriba to a significant drill program, most likely as soon as we're able in early 2021. We're in frequent contact with the contractor responsible for the drill permit application and have been told that permit approval is advancing well, and we're putting into place other activities to have Mammoth in the best position possible to have a number of drill targets testing numerous areas over the five-kilometre strike length of mineralization at Tenoriba. As we continue to advance these activities, we'll make further announcements to ensure shareholders are apprised of these steps towards commencement of drilling."
Tenoriba technical review
The owner of a diamond drilling company and a third party geologist accompanied Mammoth's vice-president of exploration, Mr. Simpson, to Centerra's Mexican office where a meeting was held to review Centerra's activities during its period working at Tenoriba. Mr. Atkins, president and CEO of Mammoth, attended this meeting by conference link. A number of observations, recommendations and conclusions were presented, and all Centerra data were transferred to Mammoth. Mammoth will, over the next couple of weeks, integrate Centerra's work data with its own and, from this integration and review, Mammoth will make recommendations on any additional work that may be deemed appropriate prior to targeting drill locations and the commencement of drilling. The company expects to announce the results of this review, its recommendations for any future work and timing of any such activities in the next couple of weeks.
Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including some course gold samples panned from a location just below the El Moreno area at Tenoriba.
Community consultations
Following the technical meeting, Mr. Simpson and the third party geologist travelled to Chihuahua city where they met Mr. Atkins and the Tenoriba project community relations manager. All four participants travelled to the project area to meet with community members and assured these community members, ejido voting members of influence and executive/administrators of the ejidos that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, and that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period. Mammoth met with members of both ejidos (community groups) and the district president. A warm welcome was received, and discussions have led to meetings and dates being set in the near future for voting on the transfer and extension of surface access agreements, with the intention that extensions to surface access agreements will be in place before year-end.
Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including pictures of various meetings held with community members.
Mammoth looks forward to providing additional information on its activities at Tenoriba as it prepares the project for a significant drill program to commence as early as it is able in 2021.
About Mammoth Resources Corp.
Mammoth is a precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining-friendly jurisdictions in the Americas. The company holds a 100-per-cent interest (subject to a 2-per-cent net smelter royalty purchasable anytime within two years from commencement of commercial production for $1.5-million (U.S.)) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre precious metal belt in southwestern Chihuahua, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above-average potential for economic concentrations of precious metals mineralization.
We seek Safe Harbor.
Back to a 5 year high after SMS had a profitable quarters again, along with a new million dollar debenture deal closed. But because they had terrible years in 2018-2019, a year after I initially posted to keep an eye on it, I think they'll need to prove that this is a trend with more profitable quarters. Selling my small position and will keep an eye if it pulls back and they continue to perform well as a company. Still adding to the other gold stocks as this is the ideal place to be, especially given that US stimulus is 100% going to happen in due time and that means a stronger bullion price. NDR.V, MTH.V, AXM.V, spreading my SMS money across those 3 stocks.
New Dimension agreement for Sierra Blanca NSR royalty
New Dimension Resources Ltd (3) (C:NDR)
Shares Issued 127,190,363
Last Close 10/16/2020 $0.09
Friday October 16 2020 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to a letter agreement dated April 29, 2020, between New Dimension Resources Ltd. and Iamgold Corp., whereby the company has been granted the option to acquire one-half (0.75 per cent) of the 1.5-per-cent underlying net smelter return (NSR) royalty on its Sierra Blanca gold-silver project, located in Santa Cruz province, Argentina.
As consideration for the NSR, the company is required to make a $750,000 payment to Iamgold prior to the commencement of commercial production.
As further consideration for entering into the agreement, the company will issue 500,000 common shares to Iamgold.
For further details, please refer to the company's news releases dated April 1, 2020, and Oct. 13, 2020.
Year Revenue Profit/(-Loss) Assets Liabilities Asset/Debt Ratio
2006 $807,000 -$485,000 $464,000 $2,505,000 0.19
2007 $794,000 -$1,010,000 $678,000 $2,104,000 0.32
2008 $844,000 -$758,000 $593,000 $2,630,000 0.23
2009 $774,000 -$648,000 $353,000 $3,040,000 0.12
2010 $1,160,000 -$340,000 $388,000 $3,400,000 0.11
2011 $1,230,000 $177,000 $399,000 $2,146,000 0.19
2012 $1,170,000 -$315,000 $274,000 $2,260,000 0.12
2013 $1,280,000 -$74,000 $292,000 $2,280,000 0.13
2014 $1,440,000 $45,000 $343,000 $2,207,000 0.16
2015 $1,820,000 $189,000 $445,000 $1,840,000 0.24
2016 $1,550,000 $152,000 $417,000 $1,490,000 0.28
2017 $1,780,609 $222,810 $479,631 $1,325,665 0.36
2018 $2,045,806 $495,372 $747,183 $1,097,845 0.68
2019 $2,036,047 $872,875 $1,432,222 $370,683 3.86
2020(Q1-Q3) $1,185,159 $274,365 $1,640,772 $304,868 5.38
Spectra earns $121,910 before taxes in Q3
2020-10-15 07:55 MT - News Release
Mr. Andrew Malion reports
SPECTRA PRODUCTS INC. REPORTS 3RD QUARTER RESULTS
Spectra Products Inc. has released its financial results for the nine months ended Sept. 30, 2020. Revenues for the nine-month period ending September 30, 2020 were $1,185,159 compared to $1,655,103 for the same period in 2019. Revenues for the third quarter ending September 30, 2020 were $343,882 compared to $491,286 for the same period in 2019.
In the nine-month period ended September 30, 2020, a net profit before income taxes of $373,285 was earned compared to a net profit before income taxes of $435,777 for the nine-month period ended September 30, 2019. In the third quarter ended September 30, 2020, a net profit before income taxes of $121,910 was earned compared to a net profit before income taxes of $136,828 for the third quarter ended September 30, 2019.
As a result of the COVID-19 virus, the slow-down in the various market segments reduced the Company's revenue levels in the third quarter of 2020, however the Company was still able to remain profitable. The Company has strong cash reserves and is well positioned to maintain operations, albeit at reduced levels of revenue and profitability, until market levels return to normal.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of wheel end safety products to the transportation industry. These products include Brake SafeO, Brake InspectorO, Zafety Lug LockO, Hub AlertTM and the Anti-Seize Cotter PinTM as well as the Termin-8RO line of anti-corrosion and extreme pressure lubricants.
We seek Safe Harbor.
Austral Gold Closes Acquisition of New Dimension's Sierra Blanca Gold-Silver Project
Canada NewsWire
VANCOUVER, BC, Oct. 13, 2020
VANCOUVER, BC, Oct. 13, 2020 /CNW/ - Austral Gold Limited ("Austral") (ASX: AGD) (TSX-V: AGLD) and New Dimension Resources Ltd. ("New Dimension") (TSX-V: NDR) are pleased to announce the closing of the previously announced acquisition of New Dimension´s Sierra Blanca Gold-Silver Project in Santa Cruz Province, Argentina. The transaction enables Austral to acquire an initial 80% interest in Sierra Blanca S.A. ("SBSA") that owns the Sierra Blanca project for a total of US$800,000 in cash and work commitments, with a 'follow-on' option to purchase the remaining 20% interest for an additional US$2,300,000 in cash and work commitments. Austral plans to fund the cost of the transaction from cash flow generated from operations. Please refer to the Joint News release dated 1 April 2020 for further details of the transaction.
Austral Gold's Chief Executive Officer, Stabro Kasaneva said: "We are pleased to add Sierra Blanca to our portfolio of attractive exploration projects in Argentina. The project complements our Pingüino project and expands our exploration footprint to over 17,000 hectares over the two projects. Both projects are located adjacent to each other in the geological zone of Deseado Massif in the Santa Cruz Province, one of the most prominent precious metal regions in the world including world-class deposits such as Cerro Vanguardia1."
1 Mineralisation hosted on nearby and/or adjacent properties is not necessarily indicative of mineralisation hosted on the Company's properties
Eric Roth, New Dimension's CEO, commented: "I am pleased to be reporting the closing of the Sierra Blanca Transaction, after an extended Due Diligence process which had been significantly impacted by Covid-19 lockdowns and travel restrictions in Argentina. We are now looking forward to Austral initiating field activities at Sierra Blanca and continuing to work towards unlocking the full economic potential of the combined Sierra Blanca-Pingüino district.
With the closing of the Sierra Blanca Transaction, New Dimension now has three projects in which day-to-day operations are managed by Joint Venture partners (Sierra Blanca, Domain, and the recently-announced Joint Venture with Ethos Gold Corp. at the Savant Lake Project). This will allow us to focus on advancing our recently acquired, high-grade Løkken and Kjøli copper projects in Norway and the Southern Gold Line project in Sweden towards drilling. I look forward to keeping the market informed on advances at our Canadian and Scandinavian projects, as well as shortly providing an update on our Las Calandrias project".
Options to Acquire 50% of Underlying Net Smelter Royalties
New Dimension also entered into agreements with both Iamgold Corporation ("Iamgold") and Sandstorm Gold Limited ("Sandstorm") that provide SBSA with options to acquire one-half of their respective royalties on the Sierra Blanca project.
The agreement with Iamgold provides SBSA the option to acquire one half (0.75%) of its 1.5% NSR for CAD $750,000 at any time prior to the commencement of commercial production. In further consideration of this agreement, and subject to approval by the TSX Venture Exchange, New Dimension will issue Iamgold 500,000 NDR common shares.
The agreement with Sandstorm provides SBSA the option to acquire one-half (1%) of its existing 2% NSR for CAD $1,000,000 at any time prior to the commencement of commercial production.
About the Sierra Blanca project:
New Dimension acquired a 100% interest in the Sierra Blanca gold-silver project from Sandstorm Gold Limited ("Sandstorm") in May, 2018, as part of the acquisition of a larger portfolio of three gold-silver projects - Las Calandrias, Los Cisnes, and Sierra Blanca – all located in the highly- prospective and mining-friendly Santa Cruz Province. The Sierra Blanca project was previously controlled by Mariana Resources Limited ("Mariana') and consists of approximately 7,000 Ha (70 square kilometres) of mining claims.
Previous work at Sierra Blanca had mostly been focused on the E-W-trending Chala-Achen and Lucila vein systems, where high-grade silver values had been derived from surface channel sampling (including 9.4m @ 2,362 g/t Ag at Chala-Achen; see New Dimension News Release dated 4 March 2019 (Figures 2 and 3). During 2019, exploration activities at Sierra Blanca were focused on trenching and sampling on the NW-trenching Ana (and Ana Splay), Tranquilo, and Laguna "vein fields" with targets for follow-up drilling having been defined. A total of 10 target areas have been identified for further work at Sierra Blanca (typically dilation zones associated with the intersection of mineralized NE- and NW-trending vein/fault systems), and only 4 of these have been partially tested by historical drilling (a total of 122 holes for 15,924 m, completed mostly in the Chala-Achen-Lucila corridor). All of the major vein systems known in the eastern portion of the Sierra Blanca are interpreted by New Dimension to extend into the adjacent Pingüino property.
About the Pingüino project
The Silver-Gold-Zinc-Lead-Indium Pingüino Project is an advanced stage development project located in the south-central part of Argentina; 300km southwest of the city of Comodoro Rivadavia and 220km northwest of Puerto San Julián. In the last 15 years, six mines were constructed in the Santa Cruz Province, making it one of the most prominent precious metal regions in the world, including world class deposits such as Cerro Vanguardia and Cerro Negro1. The Pingüino Project is embedded in a vein field similar, but smaller to Cerro Vanguardia, some 35km north-west along the same controlling structure as the Pingüino deposit (225km strike length of veins vs 115 km strike length of veins). The project has year-round access, is close to major infrastructure, has no nearby communities and more than 70% of surface land is owned by the Austral.
The 2014 updated Resource Estimate Highlights include:
Ag Eq. = Ag+ 50* Au
Zn, Pb and In are not included in the resource for Ag equivalent
The Technical report was prepared by Mine Development Associates ("MDA") of Reno Nevada and dated 19 September 2014
AGD is not aware of any new information or data that materially affects the data above
All material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
The form and context in which the Competent Person's findings are presented have not been materially modified.
Link to the Pingüino project technical report:
https://www.australgold.com/technical-reports/
Qualified Persons and Disclosure Statement
The technical information in this news release relating to the Pingüino project has been approved by Dr Robert Trzebski, a Competent Person and a Qualified Person under NI 43-101 who is a fellow of the Australian Institute of Mining and Metallurgy (AUSIMM) and an Independent Director of Austral Gold.
About Austral Gold
Austral Gold Limited is a growing gold and silver mining, development and exploration company building a portfolio of quality assets in Chile, the US and Argentina. Austral's flagship Guanaco/Amancaya project in Chile is a gold and silver producing mine with further exploration upside. Austral also holds the Casposo Mine (San Juan, Argentina), a 26.46% interest in the Rawhide Mine (Nevada, USA) and an attractive portfolio of exploration projects including the Pingüino project in Santa Cruz, Argentina (100% interest) and the San Guillermo and Reprado projects near Amancaya, Chile (100% interest). With an experienced local technical team and highly regarded major shareholder, Austral's goal is to continue to strengthen its asset base through acquisition and discovery. Austral is listed on the TSX Venture Exchange (TSXV: AGLD), and the Australian Securities Exchange. (ASX: AGD). For more information, please consult Austral's website www.australgold.com.
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 current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its Savant Lake project (Ontario) and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Back to a multi year high. But I am going to sell soon for 2 reasons: 1) Because AAT did a placement at $0.02 and that means whoever bought the stock is trying to push it up, only to sell those 50 million shares in the next few months when they are free trading 2) $500,000 raised won't do much against their multi million dollar debt and expensive G&A. Airtest isn't profitable and I got in with the hopes that they would of raised more money given that their products are meant to help with COVID. Still a win for those that bought earlier this year. Will continue to add more of my main gold stock picks. Chances are Biden will win the presidency, shut down the US, requiring stimulus and Gold should be $2,200-$2,300 before year end.
Here is an update on Senegal and CAR, with regards to Axmin's involvement.
Senegal - As mentioned last time, Teranga Gold announced an updated mineral report. This report did show 4 new targets that AXM owns 20% interest in(Page 88 in the 43-101 from Teranga), unless convereted to a royalty. But on top of that, if you look closer at the report, there is still 50,000 ounces of gold left at Gora, which is a target that has already produced over 400,000 ounces of gold and paid Axmin millions in royalties(see Page 256 in the 43-101 from Teranga). So at $2,000 gold, this is another $1.5 million USD in revenue that Axmin still has to collect.
CAR - Today an important article came out which shows the United States sanctioning Russian companies in the Central African Republic. This is important because the transaction that would of occured in regards to the sale of Passendro to Midas(Russian Company) can no longer occur. This puts Axmin in a stronger negotiating position with regards to getting back both the Passendro mine and expansion leases. Only Russia and China have worked in CAR for the last several years, making Axmin one of the only true feasible options of getting the gold mine in production.
Link to new article: https://home.treasury.gov/news/press-releases/sm1133?
From the last MD&A: On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
New Dimension Resources (Management Discussion) Released September 28th 2020. Financials are not included due to the fact that the cut off was in May, long before the $3.6 million private placement and $515K shares for debt deals took place. All information below can be found on Sedar and was released this evening.
HIGHLIGHTS AND DEVELOPMENTS FOR THE YEAR ENDED MAY 31, 2020 AND TO THE DATE OF THIS REPORT Projects
• On September 21, 2020, the Company announced that it had executed an earn-in agreement with Ethos Gold Corp. (TSX.V: ECC) in which Ethos may earn-in to a 70% interest in the Savant Lake gold project in return for staged cash and share payments to New Dimension and $2M of work commitments.
• On August 11, 2020, the Company announced that it had entered into an option and purchase agreement with EMX Royalty Corporation (NYSE American: EMX; TSX Venture: EMX) for the acquisition of 100% interests in the Southern Gold Line Project in central Sweden, and the Løkken and Kjøli copper-zinc-gold projects in central Norway. The Southern Gold Line project consists of a group of licences adjacent to Dragon Mining Limited's Fäboliden gold development project and Svartliden gold mine, whilst the Løkken and Kjøli licences cover both past-producing, high-grade copper(-zinc-gold) mines as well as drill-ready regional exploration targets.
• On April 7, 2020 the Company announced that it had successfully completed its earn-in to a 100% interest in the Savant Lake project in northwestern Ontario. The Savant Lake project covers 229 square kilometres of underexplored but highly prospective Archean stratigraphy for the discovery of high-grade iron formation- and shear-hosted gold deposits, in addition to base metal-rich massive sulfide deposits. Seven priority target areas (5 high-grade gold and 2 massive sulfide) have been identified to date at Savant Lake for drill testing (see Company News Release dated December 2, 2019).
• On April 1, 2020 the Company announced it had entered into an agreement with Austral Gold Limited (“Austral”)(ASX: AGD; TSX.V: AGLD) for the purchase of an 80% interest in the Company’s Sierra Blanca gold-silver project in Santa Cruz Province, Argentina for US$800,000 in cash and work commitments, with a 3 of 26 'follow-on' option to purchase the remaining 20% interest for an additional US$2,300,000 in cash and work commitments. The Definitive Agreement was signed on September 24, 2020, subject to certain requirements, having been delayed by the ongoing shutdown of both provincial government entities and legal and notarial services - all required for the due diligence process - as a result of the COVID-19 pandemic.
• On February 26, 2020 the Company noted Yamana Gold’s (or “Yamana”)(TSX:YRI; NYSE:AUY) update on exploration activities on its pipeline of highly-prospective gold projects, including the Domain Joint Venture (“JV”) in Manitoba. Domain is a 70.4%:29.6% JV between Yamana and New Dimension. Yamana commented that they will continue to engage with the Bunibonibee Cree Nation in 2020 in an effort to reach a mutually beneficial agreement supporting the advancement of exploration within the large, prospective land package at Domain.
Corporate Developments
• On September 8, 2020, the Company announced the completion of a non-brokered private placement, for proceeds of $3,624,992, with a lead order from Palisades Goldcorp Ltd. The Company successfully completed the sale of 60,416,531 units. The units are comprised of one common share and one share purchase warrant entitling the holder to acquire one additional common share at $0.12 until expiry September 3, 2023. Proceeds will be used for exploration activities and general working capital. The Company’s immediate priorities will be to advance its recently acquired Scandinavian projects. The Company paid an aggregate of $128,503 in broker fees and issued 2,081,730 brokers warrants under the same terms and conditions of the unit warrants. All securities issued under the placement are subject to a four month hold period trade restriction expiring January 4, 2021.
• On September 16 and 18, 2020 the Company announced that in an effort to conserve its capital and subject to regulatory approval, it had agreed to settle $385,963 of outstanding indebtedness to current and former insiders of the Company with the issuance of 6,432,714 common shares of the Company at a deemed price of $0.06 per share. The Company has not made the share issuance to settle the debt as of the date of this report.
• During the year, the Company recognised a write down provision of $4,528,887 against its Las Calandria, Los Cisnes and Sierra Blanca projects to reflect the Company’s change in exploration strategy, as subsequent to May 31, 2020 the Company moved its focus from its Argentinean portfolio to its newly acquired Swedish and Norwegian projects. The Company continues to explore varying strategies to further develop and extract value from its Argentinean portfolio. The Company believes it can potentially realise value out of these assets but this will be dependent on the level of investor interest in Argentinean assets.
OUTLOOK
Exploration activities for the remainder of fiscal 2020 will focus on advancing the recently-acquired Scandinavian assets towards drilling. Joint Venture partners will manage work programs at both the Savant Lake and Domain projects in Canada.
To find out additional information on any of the eight mineral projects, please visit New Dimension Resources website: http://www.newdimensionresources.com/
Mammoth Resources touched a 52 week high today temporarily, which might seem strange given the news yesterday. But this is not the case, as the news was actually very positive for the company. When the joint venture deal was struck, this was in 2018 when gold and silver prices were half or what they are today. On top of that, Centerra Gold called all the shots and made it difficult for Mammoth to put out more press releases on a constant basis.
Now Mammoth Resources owns the property 100% once again and they received $1.2 million in work on that project from Centerra, which makes it more valuable and attractive for either raising funds through a placement, or getting a better joint venture partner.
This is an ideal gold project with numerous high grade and deep gold drill results that actually go from the surface down. No doubt, Mammoth Resources will get financing in this bull market.
New Dimension 6,432,714 shares for debt
2020-09-21 18:34 MT - Shares for Debt
The TSX Venture Exchange has accepted for filing the company's proposal to issue 6,432,714 common shares to settle outstanding debt for $385,963.
Number of creditors: five creditors
Insiders: Eric Roth, $96,721, 1,612,017 shares at six cents; Mary Little, $20,000, 333,333 shares at six cents; Sandstorm Gold Ltd., $223,660, 3,727,666 shares at six cents
The company shall issue a news release when the shares are issued and the debt extinguished.
© 2020 Canjex Publishing Ltd. All rights reserved.
2020-09-22 08:06 MT - News Release
Mr. Thomas Atkins reports
MAMMOTH PROVIDES UPDATE ON EXPLORATION ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, ANNOUNCES PARTNER CENTERRA GOLD CEASING EXPLORATION ACTIVITIES IN MEXICO
Mammoth Resources Corp. has received notification from Minera Centerra SA de CV, the subsidiary company of Centerra Gold Inc., with which Mammoth signed an option agreement to explore Mammoth's 100-per-cent-owned Tenoriba gold-silver exploration project located in southwestern Chihuahua state, Mexico, that Centerra has made the decision to cease exploration activities in Mexico, including at Tenoriba. In a conference call wherein Mammoth was informed of Centerra's decision to cease exploration activities, Centerra expressed their enthusiasm for drilling the Tenoriba project. Furthermore, in the notice letter to Mammoth advising of this decision Centerra noted that the decision to cease exploration was "no reflection upon any of the exploration properties it was involved in, including the Tenoriba property". In mid-August Centerra filed an application for permission to drill up to 139 drill locations at Tenoriba and a response/approval of this permit application is expected within weeks. Under the terms of the Agreement between Mammoth and Centerra there will be a 60-day period from notice to termination of the Agreement.
Thomas Atkins, President and CEO of Mammoth, commented on Centerra ceasing exploration activities in Mexico, stating: "Mammoth receiving notice that Centerra was ceasing its activities at Tenoriba came as quite a surprise, especially so close to when we believed they would receive approval of their drill permit application and after making numerous preparations to begin drilling, including having had two drill contractors prepare to bid on the program. Mammoth has reviewed more than 30 exploration properties over the past six months looking for an opportunity to option a property where it could advance its own exploration efforts. Now, in addition to Mammoth continuing this search, Tenoriba is returning to the Company as a large, previously drilled gold-silver exploration property that has undergone the scrutiny of a senior company review leading to preparations for the commencement of a significant drill program."
Tenoriba Exploration Highlights:Flagship gold-silver advanced stage exploration project in the prolific Sierra Madre precious metal producing region.Large 15 square km - 5 km x 3 km footprint of ubiquitous gold-silver mineralization in what has all the characteristics of a High Sulphidation - Porphyry precious metal system, remains open along strike.Highest gold and silver values sampled graded 74 grams/tonne (g/t) gold and 62 g/t silver.Various targets over 4 km of the mineralized trend tested by 26 diamond drill holes of which 18 drill holes host tens of metres (m) of potentially economical gold-silver mineralization; drill intersections assayed grading up to 45.9 g/t gold over 1.9 m with lower grades over longer intersection widths, including 2.3 g/t gold over 43.0 m and up to 0.5 g/t gold over 126.8 m.Mineralization appears amenable to low-cost open pit mining and heap leaching processing.Drill ready with permit for up to 139 drill holes covering a 2.25 km x 1.25 km area submitted for approval.Centerra, during its 21 months optioning the project has spent almost C$1.2 million at Tenoriba, with total prior direct project exploration spending at Tenoriba exceeding C$4 million.
Recent Activities at Tenoriba:
Over the past six months in preparation for drilling, activities at Tenoriba included:Extensive surface lithological and structural mapping and sampling (137 samples collected and analysed by Centerra in addition to the more than 650 samples collected and analyzed by Mammoth) and drill core mapping and sampling (including Terraspec alteration clay analysis) by Centerra geologists.Reinterpretation of the geophysical data from the Mammoth 2015 IP-Mag geophysics survey.Drill hole targeting, including the creation of numerous cross sections consolidating surface, drill core and geophysical information.Submitted an application for a drill permit for up to 139 drill locations covering a 2.25 km x 1.25 km area of the property.Two drill contractors were preparing bids on the Centerra drill program.
Steps Forward for Mammoth:
Numerous options are currently under consideration in order to advance Tenoriba following Centerra's notice and taking into account the project's advanced stage of drill program readiness, these activities include:Review with Centerra geologists their drill targeting assessment, including review of its reinterpretation of the geophysical data, structural and lithological mapping, surface and drill hole sample results and the sections produced from this work.Consult with the two communities (ejidos) that oversee and had granted surface access at Tenoriba regarding continuation of surface access.Potentially commission an independent third party with in-depth experience of High Sulphidation-Porphyry mineralogical systems similar to Tenoriba to review the geological data set and make recommendations for the next phase of exploration.Explore optioning Tenoriba to another well capitalized mining/mineral exploration company.Reach out to individual investors, resource investment funds and royalty companies to source the capital to enable Mammoth to advance its initial assessment of drill targets at Tenoriba, including those identified by Centerra, following up on potentially economic intersections from prior drilling at Tenoriba and/or targets recommended by the aforementioned experienced third party technical review and based on these targets determine the feasibility and source the funds required to advance drilling.Merge Mammoth with another junior exploration company whereby the combination of companies creates enhanced exposure and attractiveness to raise the funds required to advance exploration at Tenoriba.
On the opportunities for Mammoth and Tenoriba, Thomas Atkins, President and CEO of Mammoth, stated: "I'd be surprised if there are many exploration companies with a small $2 million market value which hold a 100 percent interest in a 5,000 hectare gold-silver exploration property where mineralization is sampled ubiquitously over a large 15 square kilometre area, has undergone two prior successful drill programs and a senior company review leading to the intention to drill over 100 drill targets, and is imminently drill ready. The more Mammoth explored Tenoriba the more excited we became of its potential and this potential attracted a large cap company which was prepared to spend up to C$13 million to earn a 70 percent interest. Mammoth is excited to again have 100 percent of Tenoriba and the numerous opportunities to advance the project's future development."
Mammoth intends to provide updates as it makes progress advancing various activities to move the Tenoriba project forward.
About Mammoth Resources:
Mammoth Resources (TSXV: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
NDR now has 3 JV partners:
- YRI.T (Yamana Gold) For Domain (70/30)
- AGLD.V (Austral Gold) for Santa Cruz (80/20)
- ECC.V (Ethos Gold) for Savant Lake (70/30)
- Two more Argentina Assets (one of them has a 43-101 indicated resource of 400k ounces gold & 10 million silver)
- 3 Newly acquired Scandinavian Gold/Silver/Copper assets that are located next to major producing mines
Company is well financed as of recent:
- $3.62M raised, insider and institutional participation
- $512K shares for debt, mostly insiders. They had the choice for a cash payment and chose shares
- $800K sale for 80% of Santa Cruz
- $2M sale for 70% of Savant Lake
Fair market cap value based on assets being worked on, cash in hand and potential, should be a minimum $26 million right now, or $0.20 a share. There are so many catalysts and ways for New Dimension Resources to prove up a property and bring shareholder value with 8 projects on the go.
New Dimension Options Savant Lake Gold Project to Ethos Gold
2020-09-21 07:00 MT - News Release
TSXV: NDR
VANCOUVER, BC, Sept. 21, 2020 /PRNewswire/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", or "New Dimension") is pleased to announce that it has executed an earn-in agreement with Ethos Gold Corp. (TSXV: ECC)("Ethos") in which Ethos may earn-in to a 70% interest in the Savant Lake project in return for staged cash and share payments to New Dimension and $C 2M of work commitments.
The Savant Lake project is located 240km NW of Thunder Bay, Ontario, and covers 22,900 Ha (229 square kilometres) of underexplored but highly prospective stratigraphy for the discovery of high-grade iron formation- and shear-hosted gold deposits. Exploration activities to date have focused on seven known iron formation-hosted gold occurrences, with the highest gold grade showings (Horseshoe, Snowbird, L28) having never been drill tested and the remainder inadequately tested by historical drilling (see Company New Releases dated November 21, 2018 and December 2, 2019). Airborne magnetic data also indicate that 60km of cumulative strike length of prospective, folded iron formations remain to be evaluated (with 90% of this strike length having either limited or no surface exposure). Shear-hosted gold occurrences have also been identified within flanking bimodal volcanic rock sequences.
Terms of the Agreement
Ethos may earn-In to a 70% interest in the Savant Lake property in return for the following cash and share payments to New Dimension and associated work commitments:
Cash Ethos Shares Work Commitment
On signing $50,000 2,000,000
September 20, 2021 $50,000 2,000,000 $500,000
September 20, 2022 $50,000 2,000,000 $1,500,000
September 20, 2023 $50,000 2,000,000 $500,000
Total $200,000 8,000,000 $2,000,000
In addition, in the event of a National Instrument 43-101 ("NI-43-101") compliant mineral resource of >1 million ounces of gold being defined on the property, then Ethos will make a further payment to New Dimension of $50,000 in cash and 2 million Ethos shares.
Eric Roth, New Dimension's CEO, commented today: "I am extremely pleased to be announcing this earn-in agreement with Ethos on our Savant Lake property. We have always been firm believers in the potential for a significant discovery at Savant Lake, and now in Ethos we have a strong partner with an impressive track record of discovery and the financial strength to move the project forward. Ethos's technical team is headed by Jo Price as VP Exploration, with Rob Carpenter - the former CEO of Kaminak Gold, which was acquired by Goldcorp in 2016 for $500 million - leading Ethos's Technical Advisory Group.
With day-to-day operations at both our Savant Lake and Domain projects now being managed by Joint Venture partners, this will allow us to focus on advancing our recently-acquired, high-grade Løkken and Kjøli copper projects in Norway and the Southern Gold Line project in Sweden towards drilling. I look forward to keeping the market informed on advances at all of our Canadian and Scandinavian projects".
About the Savant Lake Project
The Savant Lake project is located within the Archean-age Savant Lake-Sturgeon Lake greenstone belt, approximately 240 km NW of Thunder Bay and 240 km S of Newmont's operating Musselwhite mine1 (Proven and Probable Reserves at December 31, 2019: 9.9 MT @ 6.52 g/t Au for 2.09Moz Au2). The Company's mineral claims in the Savant Lake area total 229 square kilometres and cover meta-volcanic and meta-sedimentary rock sequences which are prospective for both iron formation ("Musselwhite-type")- and shear zone-hosted gold deposits, in addition to base metal-rich (copper-zinc-gold) massive sulfide ("VMS") deposits. The Company completed an initial 8 hole / 1,626 m diamond drill program at Savant Lake in 2017 on select geophysical targets in the northern part of the property, however, numerous high-grade gold targets in the central and southern portion of the property remain untested.
1 Mineralization hosted on adjacent and nearby properties is not necessarily indicative of mineralization that may be hosted on the Company's Savant Lake project. 2 Source: Newmont Reserve and Resource Statement: February 13, 2020.
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.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
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 current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its Savant Lake project (Ontario) and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
Page 38 of Yamana Gold's September presentation titled "upcoming catalyst" and an update on Domain in Q4, which starts in October. This is 1 of 8 projects NDR is part of.
https://www.yamana.com/English/investors/presentations/default.aspx
As well, the CEO, Eric Roth, updated his insider holdings last night, owning close to 7 million shares of NDR now. See Canadian Insider for filings: https://www.canadianinsider.com/node/7?menu_tickersearch=NDR+%7C+New+Dimension+Resources
IPA.V hitting an all time high now (over ($2 a share) and SSA.V has a $75,000 debenture that is convertible to 88,000 shares at a cost of $0.85. So between the earnings from selling Spectra Products, plus the increase in value on their debenture investment, I would say the stock is quite undervalued.
New Dimension issues 6.43M shares for debt of $385,963
2020-09-16 18:44 MT - News Release
Mr. Eric Roth reports
SHARES FOR DEBT SETTLEMENT
Further to the news release of Sept. 8, 2020, wherein New Dimension Resources Ltd. announced the settlement of $512,722 in indebtedness by the issuance of 8,545,365 ordinary shares, New Dimension has settled company indebtedness of $385,963 due to current and former insiders of the company with the issuance of 6,432,714 common shares of the company. The settled indebtedness consists of $45,582 in fees due to former directors of the Company; $47,500 due to the current CEO and outstanding debt balance of $292,881 which consists of full and partial payment of loans provided to the Company by current insiders. Any unsettled debt will be paid in normal course.
The shares issued in settlement are subject to a hold period trading restriction expiring on January 16, 2021.
About New Dimension Resources
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 current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned Savant Lake project in Ontario and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Lokken and Kjoli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
© 2020 Canjex Publishing Ltd. All rights reserved.
RTMFF closed it's placement and is now at a 3 year high in less than a month. Sold off most of my stock and added more NWDMF and MMMRF as those still have the greatest ROI's in terms of potential, based on all the new gold stocks I posted over the last 6 months.
Sold the rest of my KGC off today, over almost 300% ROI in just a couple months. But now the risk begins because if they don't hit good results on drilling, this will tank. Better to deploy more cash into NDR.V and MTH.V as those companies will be announcing drill programs later this month and they're cashed up and ready to go. Should also be 3-4 bagger stocks.
New Dimension Resources - Shares for Debt
2020-09-08 07:30 MT - News Release
New Dimension Resources - Shares for Debt
Canada NewsWire
VANCOUVER, BC, Sept. 8, 2020
TSX-V: NDR
VANCOUVER, BC, Sept. 8, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") wishes to announce that in an effort to conserve its capital and subject to regulatory approval, it has agreed to settle $512,721.92 of outstanding indebtedness to current and former insiders of the Company with the issuance of 8,545,365 common shares of the Company at a deemed price of $0.06 per share.
All proposed shares issued in settlement of debt will be subject to a hold period trading restriction expiring 4 months and 1 day after issuance.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
About New Dimension Resources
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 current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned Savant Lake project in Ontario and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE New Dimension Resources Ltd.
New Dimension Resources Closes Private Placement with lead order from Palisades Goldcorp
2020-09-08 07:00 MT - News Release
New Dimension Resources Closes Private Placement with lead order from Palisades Goldcorp
Canada NewsWire
VANCOUVER, BC, Sept. 8, 2020
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
TSX-V: NDR
VANCOUVER, BC, Sept. 8, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") is pleased to announce the completion of its previously announced non-brokered private placement, for proceeds of $3,624,992, with a lead order from Palisades Goldcorp Ltd. The Company had anticipated a placement of 60,000,000 units for gross proceeds of $3,600,000, however, the Company has successfully completed the sale and conversion of 60,416,531 units. The units are comprised of one common share and one share purchase warrant entitling the holder to acquire one additional common share at $0.12 until expiry September 3, 2023. The warrants contain specific language restricting exercise that would create a new insider or control person.
Proceeds will be used for exploration activities and general working capital. The Company's immediate priorities will be to advance its recently-acquired Scandinavian projects (the Løkken and Kjøli high grade copper projects in Norway, and the Southern Gold Line Project in Sweden) to drilling. The Løkken and Kjøli licences both cover past-producing, high-grade copper(-zinc-silver-gold) mines as well as drill-ready regional exploration targets, whilst the Southern Gold Line project consists of a group of licences located adjacent to Dragon Mining Limited's Fäboliden gold development project and the Svartliden gold mine.
The Company paid an aggregate of $128,503.80 and issued 2,081,730 brokers warrants under the same terms and conditions of the unit warrants. All securities issued under the placement are subject to a four month hold period trade restriction expiring January 4, 2021.
Insiders of the Company participated in the Offering acquiring, directly or indirectly, an aggregate of 3,595,841 units representing 2.83% of the Company's issued and outstanding shares on an undiluted basis and 2.75% on a partially diluted basis. The participation by insiders in the private placement is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61- 101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued nor the consideration being paid exceeds 25% of the Company's market capitalization.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President & CEO
About New Dimension Resources
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 current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned Savant Lake project in Ontario and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
About Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is Canada's new resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Good to see CAF back at a 18 month high. Company has $4 million in assets vs $500k in liabilities and based on the last news release and numbers, should continue to grow. But what I don't like is that the company twisted the last news release by saying they made money, when they actually lost after the currency exchange, see financials on Sedar.
I am selling my stock off and acquiring NDR.V(Canada)/NWDMF(USA) because it's the same price as CAF right now and New Dimension has 8 gold projects and closing a pp(filled with insider/institutional buying) to work on those projects. Coking coal isn't favoured in this market, gold is. I recommend making the switch.
Canaf earns $285,684 (U.S.) over six months
2020-06-24 11:27 MT - News Release
An anonymous director reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR Q2 2020
Canaf Investments Inc. has released its financial statements and management's discussion and analysis for the six-month period ended April 30, 2020.
Revenue for the period was recorded at $5,490,982 (U.S.) (2019: $4,258,091 (U.S.)), with a net income of $285,684 (U.S.) (2019: $191,078 (U.S.)) and an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $433,085 (U.S.).
The corporation expects to see a further increase in sales in the third quarter of 2020, as customers' orders return after the nationwide lockdown in South Africa.
For more details and discussion on the results, the financial statements and management's discussion and analysis can be viewed on SEDAR or at the company's website.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
Q2 results came out last friday and it looks like progress is being made on Passendro and the Bambari expansion leases, as per the MD&A highlight below. Also keep in mind that Axmin Inc has updated their website which is nice to see, so hoping for a new company presentation soon. Teranga Gold is drilling/sampling on our JV claim and we have 4 new targets, with a total of 20 now.
Page 6 on the MD&A:
On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
While we wait for AXM's Q2 financial/MD&A results to come out shortly(unless it's delayed like last quarter), Teranga Gold filed a new 43-101 and it clearly shows in the maps on Sedar(link below) that they added 4 new targets on the JV claim with Axmin. Those four targets are 20% unless converted to a 1.5% NSR. We are also waiting for results from their drill program. This means AXM has 20 targets now, compared to 16(all 1.5% NSR).
AXM should hopefully have an update on it's CAR legal case as well in the next MD&A
TGZ Sedar link - https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030562
Brand new company interview below, plus some older ones:
August 2020 -
New article regarding Manitoba Gold Mines that mentions NDR.V: https://seekingalpha.com/article/4369617-manitoba-gold-mines-2019-actual-and-2020-forecast-production-and-prospects
NDR.V August 2020 Company Presentation: https://www.newdimensionresources.com/site/assets/files/13219/2020_08_ndr_corporate_presentation-aug_13.pdf
Note: Does not mention any Argentina properties, but the company did say they were exiting Argentina. Have all 3 properties been sold? An “exit” was announced in the June 2020 company presentation.
NDR.V Technical Bar Chart: https://www.barchart.com/stocks/quotes/NDR.VN/opinion
East West Petroleum Year End Results (Ending March 31st 2020), Announced August 18th 2020
All information can be found at - www.sedar.com
Symbols: EW.V (Canada) & EWPMF (USA)
Current Price: $0.05CAD & $0.0379USD
Shares Outstanding: 89,585,665
Balance Sheet (Expressed In Canadian Dollars)
ASSETS
Cash: $4,908,264 - $0.055 cents in cash
GST Receivable: $3,742
Amounts Receivable: $605,187
Prepaid Expenses: $22,741
Investments: $511,734
Exploration & Evaluation Assets: $1,579,279
Property, Plant & Equipment: $656,348
Total Assets: $8,287,295
LIABILITIES
Accounts Payable: $491,898
Deposit: $70,935
Decommissioning: $1,269,824
Total Liabilities: $1,832,657
Sales Performance
Revenue: $3,676,561
Net Revenue: $1,794,719
Net Revenue After G&A Expenses: $827,849
Comprehensive Income: $536,959 - $0.006 cents earnings per share.
MD&A Highlights
Company Overview
The Company is a reporting issuer in British Columbia and Alberta and trades on the TSX Venture Exchange (“TSXV”) under the symbol “EW” as a Tier 1 issuer. The Company currently carries on business in one operating segment, being the acquisition of, exploration for and production from petroleum and natural gas properties. The Company’s current portfolio consists of interests in exploration concessions in New Zealand and Romania and producing properties in the Taranaki Basin, New Zealand. The Company also holds marketable investments in common shares of publicly traded companies. The Company’s principal office is located at #1305 - 1090 West Georgia Street, Vancouver, BC, V6E 3V7
The Company had 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. See “Proposed Disposition of New Zealand Oil & Gas Assets”. The Company is currently assessing its go-forward plans, which includes the possible sale of its New Zealand concessions to other buyers, 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.
Proposed Disposition of New Zealand Oil & Gas Assets
On June 24, 2019 the Company signed a heads of agreement with a private arm’s length New Zealand company (the “Buyer”) pursuant to which the Company agreed to sell its interest in PEP 54877 and PMP 60291 (collectively, the “Permits”) which comprise the entirety of the Company’s assets in New Zealand (the “Transaction”). On October 8, 2019, as amended, the Company and the Buyer signed the definitive agreement (the “Definitive Agreement”) for the sale and purchase of the Permits under the Transaction. Pursuant to the terms of the Definitive Agreement, and in consideration of the Transaction, the Buyer agreed to pay the Company US $1,900,000 (the “Purchase Price”), with April 1, 2019 as the effective date (the “Effective Date”). On July 16, 2019 the Company received a deposit of $70,935 (US $50,000) (the “Deposit”) from the Buyer which was refundable to the Buyer under certain conditions. In addition to the Deposit, all revenue, less associated sales costs, production costs, royalties and capital costs, received by the Company subsequent to the Effective Date would be credited to the Purchase Price to be paid by the Buyer. On August 7, 2019 the Company received shareholder approval to the Transaction. As at March 31, 2020 closing of the Transaction was still subject to final New Zealand governmental and TSXV approvals. On August 1, 2020 the Company terminated the Definitive Agreement as the amount to be received, given the April 1, 2019 effective date, was significantly less than current value. The Deposit was refunded to the Buyer. See also “Project Update - New Zealand”.
Romania
During fiscal 2010 the Company was informed by the government of Romania that it had been awarded four exploration blocks located in the Pannonian Basin, in western Romania. In May 2011 the Company signed petroleum concession agreements with the National Agency for Minerals and Hydrocarbons (“NAMR”) the government agency in Romania which regulates the oil and gas industry. The four concessions have specific mandatory work programs (the “Romania Work Programs”), which were estimated at US $63,000,000 for all four programs. Production from the concessions is also subject to royalties of between 3.5% to 13.5% based on quarterly gross production payable to the government. On May 20, 2011 the Company and Naftna Industrija Srbije j.s.c. Novi Sad (“NIS”), an arm’s length corporation, signed a memorandum of understanding to jointly explore the four exploration blocks in Romania. On October 27, 2011 the Company and NIS signed a farm-out agreement (the “Farm-out”). Under the terms of the Farm-out, NIS has paid the Company a total of $525,000 for the assignment of an 85% participation interest and operatorship of the Romania Work Programs to NIS. NIS is the operator of the four concessions and has the obligation to fund the Romania Work Programs, including environmental work, 2D and 3D seismic acquisition and processing, and the drilling of 12 wells. The Company retains a 15% carried interest in each block through the obligatory Phase I work program and an optional one year Phase II work program which carries additional commitments. The current expiries of the Phase I terms are as follows: Block EX-2 December 12, 2021, Block EX-3 December 14, 2021 and November 22, 2020 for Blocks EX-7 and EX-8. If a commercial discovery is made, the Company is responsible for its 15% interest in development of the commercial discovery.
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) and processing of the data is 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. A workover is planned for 2021. An appraisal well, Teremia1001, was drilled and completed in Q1/2019 (calendar) and, following initial testing, was placed on long term experimental production in July 2019. Production rates have stabilised around 150 bopd. 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 with rates stabilising around 150 bopd. 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.
Braveheart Resources to acquire Thierry from Cadillac
2020-08-18 08:25 MT - News Release
See News Release (C-BHT) Braveheart Resources Inc
Mr. Ian Berzins of Braveheart reports
BRAVEHEART RESOURCES ENTERS INTO LETTER OF INTENT FOR PURCHASE OF THIERRY MINE PROJECT
Braveheart Resources Inc. has entered into a letter of intent with Cadillac Ventures Inc. for the purchase of a 100-per-cent interest in the Thierry mine project near Pickle Lake, Ont.
Under the terms of the LOI, Braveheart will acquire Thierry from Cadillac for the following consideration: (i) $300,000 in cash; (ii) 13,500,000 common shares of Braveheart; and, (iii) a 2% net smelter royalty ("NSR") to be retained by Cadillac of which 1% of the NSR can be purchased by Braveheart for $1,000,000. Closing of the purchase of Thierry remains subject to the parties entering into a definitive purchase and sale agreement (the "Definitive Agreement"), satisfactory completion of due diligence by Braveheart and the approval of the TSX Venture Exchange. The intention of Braveheart and Cadillac is to finalize the Definitive Agreement, which will include customary terms and conditions including representations and warranties, and close the purchase of Thierry by Braveheart within the next 30 days.
The Thierry copper-nickel platinum group elements ("PGE") deposit was discovered by Union Miniere Exploration and Mining ("UMEX") of Belgium in 1969 and mined through open pit and underground workings between 1976 and 1982. The mine was shut down due to low commodity prices. Based on historical records UMEX milled 5,800,000 short tons of copper and nickel mineralized material from the deposit with an average grade of 1.13% Cu and 0.14% Ni. In addition, precious metals payables included 47,000 ounces of palladium, 17,000 ounces of gold, 17,500 ounces of platinum and 900,000 ounces of silver. The most recent independent National Instrument 43-101 ("NI 43-101") Technical Report and Resource Estimate was completed by P&E Mining Consultants Inc. in February 2012 (the "2012 Thierry Technical Report") and is available on Cadillac's SEDAR profile at www.sedar.com. The 2012 Thierry Technical Report estimates a measured and indicated resource at the Thierry underground of 8,815,000 tonnes at a grade of 1.66% Cu and 0.19% Ni. Additional measured and indicated metal values include 0.13 gpt Pd, 0.05 gpt Au, 0.04 gpt Pt and 4.0 gpt Ag. There are a further 14,922,000 tonnes in an inferred category at a grade of 1.64% Cu and 0.16% Ni. Additional inferred metal values include 0.21 gpt Pd, 0.10 gpt Au, 0.07 gpt Pt and 6.4 gpt Ag. The Thierry project also contains a near surface inferred resource at the K1-1 deposit. The K1-1 deposit contains 53,614,000 tonnes at a grade of 0.38% Cu and 0.10% Ni. Additional inferred metal values include 0.14 gpt Pd, 0.03 gpt Au, 0.05 gpt Pt and 1.83 gpt Ag. The reader is cautioned that a Qualified Person has not done sufficient work to classify the mineral resources stated in the 2012 Thierry Technical Report as current resources. Braveheart is not treating this historical estimate as current mineral resources. While this estimate was prepared in accordance with NI 43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as such. Braveheart has not undertaken any independent verification of the data upon which the historical estimates are based. The historical estimate is considered relevant to assess the mineralization potential of the property.
The Thierry Mine Project is located approximately 15 km west of Pickle Lake, Ontario and accessible on a year-round basis by paved and all-weather roads. The property is approximately 4,700 hectares in size. There is a municipal airport and nearby rail system and the provincial power grid is within eight km of the mine. The underground infrastructure includes a three-compartment shaft, production decline to 520 metres below surface and lateral developments on three levels. The underground workings are currently flooded.
Norman Brewster, President and CEO of Cadillac stated: "We believe the proposed transaction is a compelling one to Cadillac and its shareholders, providing a significant cash injection, continued exposure and upside to any success on Thierry and exposure to a broader property package through the proposed proforma ownership in Braveheart. The combination of Thierry with Braveheart's assets is a natural one, and will create a meaningful consolidated and highly prospective land package and the ability to accelerate unlocking value".
Ian Berzins, President and CEO of Braveheart commented: "The proposed acquisition of the Thierry Mine Project represents a significant next step in the growth of our Company. The project is very complimentary to our Bull River underground copper, gold and silver mine in British Columbia and provides the Company with project and geographic diversification. Braveheart is focused on acquiring and developing past-producing assets, in favourable Canadian jurisdictions with existing mineral resources in place. We were particularly drawn to this opportunity because of the significant infrastructure already in place and the proximity to roads, grid power and established mining communities".
Qualified person
Braveheart's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Ian Berzins P.Eng., who serves as president, chief executive officer and a director of the Company and is a qualified person under the definition of National Instrument 43-101.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart's main asset is the Bull River Mine project which has a current mineral resource containing copper, gold and silver. The property is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.
We seek Safe Harbor.
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KGC.V at a 3 year high today just after 1 month of my posting. This was a no brainer given the project potential and tight float. But I sold enough shares to get my cost out and am going to add more NDR.V and MTH.V as those are superior plays in terms of price vs potential. Good job to those that also purchased KGC at 2.5-3 cents when I posted a month ago.
KGC - raising $300k to sample/trench this fall.
MTH - JV partnership with CG.T for $13 million to spend on their claim, results from 2017-2018 already showed good grades with decent intercepts and after speaking to the CEO, gold is at surface level, which is important. Drilling will start in September. Target is 10-12 cents in the next month.
NDR - My favourite gold exploration play, $5 million cash between a recent pp and a partial asset sale. They own 8 gold properties and have a JV with YRI.T and SSL.T owns 20% of the current float. The placement will close August 19th as per the last news release and once all 8 projects are underway this fall, this should run to 20-25 cents because of all the catalysts in the company portfolio and funding to work on them all.