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News out :
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2161-tsx-venture/phd/158787-providence-gold-mines-inc-geological-update.html
Prior to a planned 4000-meter drilling program we intend to open this zone with an excavator in order to sample and map it. Subsequently, a new NI 43-101 technical report will be commissioned. With success, the near-surface material would be amenable to milling with the known nearby Providence Gold stockpile.
Ron Coombes, President & CEO states, “The potential ofthis new zone blended with the nearby stockpile material could become a game changer and decrease future share dilution significantly.”
New presentation of Providence Gold Mines :
Could be strong bid
Mega News coming. Financing
What a week it has been!!
We got news a week ago Friday in the form of a Corporate Update
https://stockhouse.com/news/press-releases/2023/02/22/corporate-update
We got news on Monday last week in a Financial Update
https://stockhouse.com/news/press-releases/2023/02/27/providence-gold-mines-inc-financial-update
On Wendesday we get what can only be described as a Marketing Update
https://stockhouse.com/news/press-releases/2023/03/01/providence-gold-mines-inc-engages-with-prominent-financing-group
And now over the weekend, we get the official notice of the Insider buy in the PP
https://www.sedi.ca/sedi/SVTItdOneLineDetailDerivIss?locale=en_CA
TO RECAP
Ron, our CEO, purchases $30,100 of shares at 75% above current market price (as we were at 0.4 at the time)!!! (34.7% of PP)
Yes, you read that right....purchased in PP at 0.07 versus market price of 0.04 last week, pushing the share price to 0.05 mid week
Financing totalled $86,580, which means non insiders participated for $56,480 also above current market price!!!
This Fabulous news on top of the $277,838 of debt retired per Monday's press release (excerpt below)
"The Board has unanimously accepted their offer and has retired $277,838 of debt to this group. To be clear, this is not a debt for shares settlement but a complete forgiveness of the debt by these certain Insiders and professionals."
So, not only do they retire debt - and specifically NOT as a shares for debt - but actual true and complete forgiveness, an insider puts even more skin in the game.
So from reading the financials, it seems to me that some of the above debt was owed to Ron, for his services last year ... And that means that not only did he forego shares for debt - he forgave the debt - he puts even more $$ into the company - at 0.07 to limit dilution to existing shareholders - and he wasn't alone - non insiders also participated to the tune of $56,480 also at 0.07
Show me another Junior Minor that has had management done that recently!!!
A plan (as there obviously is one) to move the company forward, limit dilution to existing shareholders,and raise the needed funds to drill and start the process of proving up the resource that is almost certainly there in those 6 mines.
And to top it all off - excellent news was added Wednesday on top of everything else, as they use this new sourced cash to proceed full steam ahead to secure financing for the much anticipated drill program !!!
WELL DONE RON AND TEAM!!!!
News out Providence Gold Mines
Providence Gold Mines Inc. Financial Update
V.PHD | 6 minutes ago
(TheNewswire)
Providence Gold Mines Inc.
VANCOUVER – TheNewswire - February 27, 2023 - Providence Gold Mines Inc. (TSXV:PHD)(OTC:PRRVF)(FRANKFURT EXCHANGE:7RH1-F) (“Providence” or the “Company”) is pleased to announce that it has been approached by certain insiders and professional service providers to forgive A/P that is owed to them for accounting, exploration and management services. The Board has unanimously accepted their offer and has retired $277,838 of debt to this group. To be clear, this is not a debt for shares settlement but a complete forgiveness of the debt by these certain Insiders and professionals. The Board would like to thank the group for their significant commitment to the Company, and for their instrumental role in strengthening the Company’s financials as the Company continues in discussions to complete funding for its planned 4,000 meters of HQ core drilling program.
Additionally, the Company announces that, subject to final regulatory approval, it has completed a small private placement of 1,236,860 units at a price of $ 0.07 raising a total proceeds of $86,580. These proceeds will be used for marketing and administrative purposes. Each Unit consists of one common share and one purchase warrant. Each purchase warrant entitles the holder to purchase an additional common share at a price of $0.05 for a period of 24 months from the date of issue.
An Insider participated in the Private Placement, and no finders’ fees were paid in connection with the private placement.
Project Achievements and Plans:
Since optioning the Providence Group of Gold Mines, located nearby, Sonora California in the bountiful Motherlode gold belt, the Company has utilized state of the art exploration technology consisting of underground 3D laser mapping, aerial survey photography, underground channel samples, conventional surface trenching channel and soil sampling. The success exploration resulted in the development of numerous modelled high grade drill targets that lie within or near the past producing group of Providence Gold Mines. In addition, our most recent reported trenching program nearby the historical McCarthy mine discovered a zone with potential for low grade bulk tonnage mineralization.
The planned first phase of 4,000-meter of HQ core drilling is designed to verify the gold targets projected near surface. For more information on the enhanced modeling used to develop the drill program can be found on the Company website at the following link:
https://providencegold.com/enhanced-real-time-drill-target-modeling/
Project Benefits:
Gold has always been a good hedge against financial uncertainty.
Multiple significant modeled Gold Targets
Politically safe, mining friendly community located in the USA.
Patented past producing private lands.
Good share structure
Project Summary:
Potential > 1 million Ounce modelled gold targets
Funding required:
Project Funding Amount: $1.3M USD (~$1.7M CDN)
Project Start Date: ASAP
Project Completion Date:Project drilling completion is estimated to take 4 months from receipt of funds.
Project Location: Mining friendly, Sonora, California, USA
Historically, the property milled a reported 225,000 ounces of high-grade gold and has sat idle for over 100 years since the profitable mining operations were ceased in 1916 due to a legal dispute, followed by major wildfires, and the Spanish Flu Pandemic of 1918.
This information is historical and reported to the standards of the day we caution the reader that it is not too current NI43101 compliance standards.
News Releases and other Web Links:
Walk-through at the 600-level underground mine using state-of-the-art 3D-LIDAR modelling ()
McCarthy Mine Results 3.77 Kg Sample Yields 77.0 to 97.0 Grams Gold (https://providencegold.com/providence-gold-mines-announces-mccarthy-mine-results-3-77-kg-sample-yields-77-0-to-97-0-grams-gold/
Providence Gold Discloses Discovery of Significant Archived Report (https://providencegold.com/providence-gold-discloses-discovery-of-significant-archived-report/)
Latest news release with video of Enhanced Modelling for Drill Targeting (https://providencegold.com/enhanced-real-time-drill-target-modelling/)
Our Geological Team:
Company’s Qualified Person Dr. Lee Groat
Company’s Registered P. Geo in the State of California, Mark Payne, who has over 45 years
of experience in the California Mother Lode Gold Belt
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
Phone: (604) 724-2369
Email: rcoombes@providencegold.com
Gold Rush
At the turn of the 20th century, “The Providence Group” reportedly took only 225,000 ounces from the Providence Group of Gold Mines located near the famous Gold Town of Sonora, California -- and certainly not from the deeper minable levels. Convinced there is a lot more gold there, Ron Coombes has begun his exploration.
https://calbizjournal.com/gold-rush/
Funding 3,1 million CAD ??
News pending ! GO PHD
Shareprice is going up up up! Funding partner for PHD ? News coming ?
PHD news out shortly ?
Funding news this week ?
Turnaround on shareprice actually.
Funding would be the beginning of great drilling.
Funding news this week ?
Turnaround on shareprice actually.
Funding would be the beginning of great drilling.
Funding partner successfully!
PHD important news out shortly
Drilling beginning and funding partner.
There is such incredible potential here, funding and starting drilling than it could be great here. I am still holding! This is a high potential asset.
PHD moving forward think there will be a important news next days.
Gold Rush
At the turn of the 20th century, “The Providence Group” reportedly took only 225,000 ounces from the Providence Group of Gold Mines located near the famous Gold Town of Sonora, California -- and certainly not from the deeper minable levels. Convinced there is a lot more gold there, Ron Coombes has begun his exploration.
by Becky Holladay, Senior Writer, California Business Journal
A A
Seven abandoned gold mines tucked into the Sierra Nevada foothills have been kept a secret for over one hundred years: they aren’t finished yet.
The historical gold mines, collectively called the Providence Group of mines, had stopped production in 1916, first because of a legal dispute, and then, ironically, a series of wildfires and a pandemic. At some point in the early 20th century, the lower levels had been flooded with water, and then left untouched.
Located in the “Mother Lode” region of California — a 150 mile-long zone that has historically been one of the top gold-producing districts in the U.S. — the mines were yielding results similar to other great producing mines in the area, yet had only been mined for a comparatively short period of time. Due to war time closures and fixed gold prices, gold mining in the U.S. slowed or ceased altogether in the 1940s, and in the years following, the Providence Group was never revisited.
That is until a Canadian named Ron Coombes came along. A long-time mineral exploration developer, he was looking for a new project that was neither in his home country (too many inconsistent regulations) nor in a developing country (too much political instability). He settled in the U.S. Coombes had looked at nearly 50 different projects when he heard about the Providence Group. The “old timers” as Coombes calls them, had reported recovering an estimated 225,000 ounces of gold at the turn of the 20th century, and certainly left huge potential both near surface and to depth. Could there be more gold? He was intrigued to say the least.
“When I first heard about it, I thought, ‘Man, it can’t be true.’ The project had last been in production in 1916. So, I thought it would be foolish if I didn’t go down and take a look at it, especially considering the mother lode belt has had several of the highest rated producers on planet Earth,” Coombes told California Business Journal.
Armed with over 20 years of mineral mining experience, a couple of engineers and a couple of geologists, Coombes visited the site to take some initial assay samples. From inside a three-story-high stope, a mined-out cavern, they cut out a channel sample of rock, and sent the samples back to one of the top mineral labs in the world, located in Vancouver, to get an idea of the quality (gold quality is rated by density, measured by grams of gold per ton of mineralization).
When the lab results arrived, Coombes was “flabbergasted.” The assay sample had been taken from the six hundred level from a zone that had already been mined. Yet the lab in Vancouver results over a 1.5 meter area showed the channel sample grade was 46 grams per ton, which not only meant it was high grade mineralization, but verified the higher grade nature of the deposit similar to many others within the mother lode belt.
“To get 46 grams per ton in a mined-out stope is just incredible,” he says.
They decided to move ahead with the project, and formed Providence Gold Mines Inc., of which Coombes is CEO, president, and director. But before they could drill, the team needed further findings; they embarked on a three-year mission to map, test, and gather more data. Part of that process included building target models of the Providence Group. They surveyed the underground area at the 600-foot level 3D LIDAR, a terrestrial laser scanning technology.
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“I was awestruck when I saw the first images. It’s like they’re taking an MRI of the earth. We’re able to see every little fracture, everything, to a micro scale along the whole entire corridor.”
Gold Digging
Armed with over 20 years of mineral mining experience, a couple of engineers and a couple of geologists, CEO Ron Coombes visited the site to take some initial assay samples.
From there, with all the data compilation they could estimate the potential size and where to precisely set the drill to core drill. They also completed initial surface trenching and found new lode zones. Coombes believes there are many more undiscovered lode zones on the property that have yet to be discovered. They’re estimating the mines have potential to yield between one and four million ounces of high-grade mineralization.
“Looking back on my history and the moderate successes I’ve had, this particular project could be a serious home run,” he says.
Of course, they won’t know for sure how much gold there is until they start to drill, but this is what their data compilation has to offer.
“We live in a risk and reward world, but if you take a look at the verification and all the data, so far there is a good indication that supports a large, high grade mineralized zone. We’ve de-risked it as much as we possibly can, but the drill, it’s the truth machine. It doesn’t lie,” Coombes says.
“But the models are pretty precise, by the way. I mean, this isn’t done with a witching stick,” he laughs. “The scientific technology we’re using here is really state of the art, and I’m working with some pretty smart people.”
Coombes’ team includes Dr. Lee Groat, a geologist who is also the director of the Integrated Sciences program at the University of British Columbia, and Dr. Allen Alper, who’s worked in the mining industry for over 40 years and is a fellow with the Geological Society of America
Compared to other gold mine projects, Providence is relatively “green.” Metrological sampling to data shows only traces if any deleterious metals, meaning, just simple crushing and gravity to separate the gold from other materials.
“In all our sample testing to date for this project, the mineralization is very simple. No significant signs of any deleterious materials. In the mining industry this is an extremely attractive almost green project. There’s nothing harmful to the environment and the process for recovery is very simple. It’s just grinding and gravity separation. Simple, “Our initial metallurgical studies are very favorable. “That’s what makes this project pretty unique.”
After the next round of financing, Providence Mines will commence drilling. The company stock is trading on the OTCQB with plans to become a full issuer in the US.
“We have a tight share structure. The company is tightly controlled by a group of sophisticated investors. They’re not sellers, they’re good investors, which is important,” he adds.
Some analysts are predicting historically high gold prices in the next five years, maybe even this year. In August 2020, the price of gold hit a record-breaking $2,000 an ounce. Most would agree that gold is always an attractive investment during times of political and economic uncertainty.
“Between Covid, the printing of money, and the global inflation situation right now — there are only two things that generally do very well during this kind of historical event, and that’s oil and gold,” he concludes. “This could be the start of one of the biggest gold runs in our lifetimes.”
Interested parties can obtain additional information by emailing a request to invest@providencegold.com.
Copyright © 2022 California Business Journal. All Rights Reserved.
Gold Rush
At the turn of the 20th century, “The Providence Group” reportedly took only 225,000 ounces from the Providence Group of Gold Mines located near the famous Gold Town of Sonora, California -- and certainly not from the deeper minable levels. Convinced there is a lot more gold there, Ron Coombes has begun his exploration.
by Becky Holladay, Senior Writer, California Business Journal
A A
Seven abandoned gold mines tucked into the Sierra Nevada foothills have been kept a secret for over one hundred years: they aren’t finished yet.
The historical gold mines, collectively called the Providence Group of mines, had stopped production in 1916, first because of a legal dispute, and then, ironically, a series of wildfires and a pandemic. At some point in the early 20th century, the lower levels had been flooded with water, and then left untouched.
Located in the “Mother Lode” region of California — a 150 mile-long zone that has historically been one of the top gold-producing districts in the U.S. — the mines were yielding results similar to other great producing mines in the area, yet had only been mined for a comparatively short period of time. Due to war time closures and fixed gold prices, gold mining in the U.S. slowed or ceased altogether in the 1940s, and in the years following, the Providence Group was never revisited.
That is until a Canadian named Ron Coombes came along. A long-time mineral exploration developer, he was looking for a new project that was neither in his home country (too many inconsistent regulations) nor in a developing country (too much political instability). He settled in the U.S. Coombes had looked at nearly 50 different projects when he heard about the Providence Group. The “old timers” as Coombes calls them, had reported recovering an estimated 225,000 ounces of gold at the turn of the 20th century, and certainly left huge potential both near surface and to depth. Could there be more gold? He was intrigued to say the least.
“When I first heard about it, I thought, ‘Man, it can’t be true.’ The project had last been in production in 1916. So, I thought it would be foolish if I didn’t go down and take a look at it, especially considering the mother lode belt has had several of the highest rated producers on planet Earth,” Coombes told California Business Journal.
Armed with over 20 years of mineral mining experience, a couple of engineers and a couple of geologists, Coombes visited the site to take some initial assay samples. From inside a three-story-high stope, a mined-out cavern, they cut out a channel sample of rock, and sent the samples back to one of the top mineral labs in the world, located in Vancouver, to get an idea of the quality (gold quality is rated by density, measured by grams of gold per ton of mineralization).
When the lab results arrived, Coombes was “flabbergasted.” The assay sample had been taken from the six hundred level from a zone that had already been mined. Yet the lab in Vancouver results over a 1.5 meter area showed the channel sample grade was 46 grams per ton, which not only meant it was high grade mineralization, but verified the higher grade nature of the deposit similar to many others within the mother lode belt.
“To get 46 grams per ton in a mined-out stope is just incredible,” he says.
They decided to move ahead with the project, and formed Providence Gold Mines Inc., of which Coombes is CEO, president, and director. But before they could drill, the team needed further findings; they embarked on a three-year mission to map, test, and gather more data. Part of that process included building target models of the Providence Group. They surveyed the underground area at the 600-foot level 3D LIDAR, a terrestrial laser scanning technology.
ADVERTISEMENT
“I was awestruck when I saw the first images. It’s like they’re taking an MRI of the earth. We’re able to see every little fracture, everything, to a micro scale along the whole entire corridor.”
Gold Digging
Armed with over 20 years of mineral mining experience, a couple of engineers and a couple of geologists, CEO Ron Coombes visited the site to take some initial assay samples.
From there, with all the data compilation they could estimate the potential size and where to precisely set the drill to core drill. They also completed initial surface trenching and found new lode zones. Coombes believes there are many more undiscovered lode zones on the property that have yet to be discovered. They’re estimating the mines have potential to yield between one and four million ounces of high-grade mineralization.
“Looking back on my history and the moderate successes I’ve had, this particular project could be a serious home run,” he says.
Of course, they won’t know for sure how much gold there is until they start to drill, but this is what their data compilation has to offer.
“We live in a risk and reward world, but if you take a look at the verification and all the data, so far there is a good indication that supports a large, high grade mineralized zone. We’ve de-risked it as much as we possibly can, but the drill, it’s the truth machine. It doesn’t lie,” Coombes says.
“But the models are pretty precise, by the way. I mean, this isn’t done with a witching stick,” he laughs. “The scientific technology we’re using here is really state of the art, and I’m working with some pretty smart people.”
Coombes’ team includes Dr. Lee Groat, a geologist who is also the director of the Integrated Sciences program at the University of British Columbia, and Dr. Allen Alper, who’s worked in the mining industry for over 40 years and is a fellow with the Geological Society of America
Compared to other gold mine projects, Providence is relatively “green.” Metrological sampling to data shows only traces if any deleterious metals, meaning, just simple crushing and gravity to separate the gold from other materials.
“In all our sample testing to date for this project, the mineralization is very simple. No significant signs of any deleterious materials. In the mining industry this is an extremely attractive almost green project. There’s nothing harmful to the environment and the process for recovery is very simple. It’s just grinding and gravity separation. Simple, “Our initial metallurgical studies are very favorable. “That’s what makes this project pretty unique.”
After the next round of financing, Providence Mines will commence drilling. The company stock is trading on the OTCQB with plans to become a full issuer in the US.
“We have a tight share structure. The company is tightly controlled by a group of sophisticated investors. They’re not sellers, they’re good investors, which is important,” he adds.
Some analysts are predicting historically high gold prices in the next five years, maybe even this year. In August 2020, the price of gold hit a record-breaking $2,000 an ounce. Most would agree that gold is always an attractive investment during times of political and economic uncertainty.
“Between Covid, the printing of money, and the global inflation situation right now — there are only two things that generally do very well during this kind of historical event, and that’s oil and gold,” he concludes. “This could be the start of one of the biggest gold runs in our lifetimes.”
Interested parties can obtain additional information by emailing a request to invest@providencegold.com.
Copyright © 2022 California Business Journal. All Rights Reserved.
Hard to judge who to trust. Best qualified not necessarily the best promoters. PHD didn't much promo!! Good sign! Besides when was the last major gold find? So PHD has the potential for a huge gold find. We will see it next time.
Hard to judge who to trust. Best qualified not necessarily the best promoters. PHD didn't much promo!! Good sign! Besides when was the last major gold find? So PHD has the potential for a huge gold find. We will see it next time.
Potential of multi-ounce results.
This is rich ground, and no one's ever explored it with any sort of modern technology.
I do know they have the potential of long drill intercepts of multi-ounce results.
Potential of multi-ounce results.
This is rich ground, and no one's ever explored it with any sort of modern technology.
I do know they have the potential of long drill intercepts of multi-ounce results.
Yes news coming he said !!
Huge potential!
Yes news coming could be a run!!
Great potential!
Financing news coming today ?
Go PHD Go !!
Financing news coming today ?
Go PHD Go !!
Huge news PHD this week?
Financing, investor and drilling start.
PHD is in the beginning of what will more than likely be one of the biggest runs in golds history.
There is very little stock available delays happen!
PHD is in the beginning of what will more than likely be one of the biggest runs in golds history.
There is very little stock available delays happen!
financing in the amount of $1,300,000 USD
"The Company is presently in negotiation with a funding source for a convertible equity financing in the amount of $1,300,000 USD"
Thats great ! and will be closing shortly.
financing in the amount of $1,300,000 USD
"The Company is presently in negotiation with a funding source for a convertible equity financing in the amount of $1,300,000 USD"
Thats great ! and will be closing shortly.
Gold mountain mining interested in PHD ?
Gold mountain mining interested in PHD ?
Turnaround soon !!
This is a easy 2-3 banger and with any tailwind from the price of gold, an easy 10-bagger. Where do you go when you have six high grade gold mines in an area that needs tax revenue and the company has a $4 million market cap?
Private placement closing and news about drilling and PHD is going to 0.2-0.3CAD
may 27, 2022 is the date to watch
The outside date upon which final acceptance of the Private Placement will be granted by the TSX-V has been extended until May 27, 2022.
GO PHD !
Discusses Exploring, on the Eastern Belt of the “Mother Lode” District
http://www.metalsnews.com/Metals+News/MetalsNews/Dr.+Allen+Alper,+PhD+Economic+Geology+and+Petrology,+Columbia+University,+NYC,+USA/FEATURED1407409/Ron+Coombes+President+and+CEO+Providence+Gold+Mines+Inc+(TSXV+PHD+USOTCQB+PRRVF+FRANKFURT+7RH1F)+Discusses+Ex.htm
Providence Gold Mines start of a incredible year
CEO Ron Coombes Interviewed On The Market Harold- The Deal Room
Interview With Alex Jennings, Interview Starts At 5:55
Https://Providencegold.com/The-Market-Harold-The-Deal-Room-Interview-With-Alex-Jennings/