Value Microcaps Junior Miners

[Lone Clone]

GOT x 3, ARK, IAU

Yes, Goliath Resources aka GOT has issued yet another PR, the second in 4 days, on the drilling campaign in the Surebet area its Goldigger Au/Ag prospect in BC's Golden Triangle. Once again there are no assays included, and once again they go on and on about 'Visible Gold" in the core, this time frequently festooned with the adjective 'abundant'. I wonder if they should try to patent the term 'Visible Gold' presented in that form. It might help pay for the ridiculous number of PRs they put out.

I won't comment on what they are finding until we get the assays. Actually, this PR does contain some assays, but they are just repeats of various assays that have already been reported.

The clown show continues....

https://www.siliconinvestor.com/readmsg.aspx?msgid=34420789

And then we got news that GOT has closed a $5M PP at or below the current very low market price. Is this another reason besides their bizarre PR strategy that GOT shares have been trading so poorly? All the units, some of which even include partial warrants have been taken up by Crestval Capital, already their largest shareholder at 18%, and by Rob McEwen, both of whom have the financial heft to push down GOT's share price to get themselves a better deal. (For those who don't know McEwen, he has a record at various companies of delivering poor shareholder returns.)

On reflection, I can't help but wonder if current GOT management was also involved in this effort. This is pretty well the last straw for me. I will be looking for a good opportunity to exit GOT. What a shame!

https://ca.finance.yahoo.com/news/rob-mcewen-crescat-capital-strategic-070800355.html

Then a few hours later GOT announced they had increased the size of the PP to $8.6M. No wonder, given it is such a sweetheart deal for those taking part.

https://ca.finance.yahoo.com/news/goliath-increases-private-placement-8-181800504.html

Arras Resources aka ARK released the results of 3 more holes from ongoing drilling at its Beskauga project in Kazakhstan, and the results were interesting in two ways.

First, these holes are a 1 km step out from the main Beskauga resource, and with long intercepts like 570.5m @ 0.27% CuEq (0.23 g/t Au, 0.08% Cu, & 0.42 g/t Ag) including 127.0m @ 0.57 % CuEq (0.49 g/t Au, 0.17% Cu, 0.77 g/t Ag) there is the potential to add significantly to that resource. The key to making this type of deposit work economically is those higher grade intervals, which they have been finding consistently.

The other thing I found interesting is the higher gold assays, e.g. 2.78 g/t Au over 5m. 1.77 g/t Au over 12m, and 1.25 g/t Au over 11m, which again could make a big difference in the economics. They are also finding some Mo which could help.

All that said, it is still far too early in the exploration process to draw any firm conclusions.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34420812

Nevada gold miner i-80 Gold aka IAU announced they have raised another $20M by selling an accordion to Orion Mine Finance. OK, OK, of course not a very expensive musical instrument.. The $20M is being called, using the parlance, a Prepay Accordion. In return for the money, which will be used by IAU to advance the three mines it is developing, will be repaid by delivering 13333 oz Au Au per quarter for 12 quarters starting at the end of March next year. Since they are currently producing over 4000 oz Au per quarter from residual heap leaching, these deliveries should not be a problem.

As well, Orion gets 3.75M warrants with a strike price of $3.75 good for two years, and IAU has applied to extend the maturity of warrants owned by Orion from an early financing.

Compared to the predatory financing by GOT outlined above, this one is practically a gift to IAU shareholders.

https://ca.finance.yahoo.com/news/80-announces-us-20-million-232900924.html

Saville commented on how well the PoG is holding very well considering the 10-year TIPS yield setting a new cycle high. He continues to think that gold stocks are most likely to break upward than downward from the current consolidation.