Coral Gold Analysis
The below statement from the companies own website says it all, “Because Nevada's gold mines are maturing, major producers such as Barrick Gold and Newmont will need to replace reserves either through exploration or by acquiring defined resource from junior companies, such as Coral Gold.” Coral gold is fluffing itself up to be taken over by it's big neighbor Barrick and joint venture partner in two of Corals claim blocks the Excluded Claims and the Norma Sass claims. Coral wants to get it's share price up higher by having confirmed drill results for its wholly owned and huge potential 3.4 million oz inferred Robertson Claim before the buy out is offered to get a better share swap with Barrick. With only 42,503,438 shares fully deluted the share swap will be good once Coral's share price is higher. Barrick does not want another big company coming into their back yard when such mineral rich claims like Coral's that are continuous with theirs and their current operating mines in the area are ready to exploit Corals potential. Barrick now understands from their current large mining operations on the Carlin Trend that the potential for Coral Golds claims are huge. This is why they have to own Coral Gold to get the rest of its resources like the rich Robenson claims that have millions of ounces of gold. They will not want other big companies like Newmont or Gold Corp to enter the picture. Coral Gold will play it's cards as the only female in town and let them fight over it with the highest bidder buying out it's sweet ass of claims. Coral Gold will do well for it's share holders in the end. Just sit back and wait for the buy out from Barrick and you will have Barrick shares which will be a good deal and longer term hold.
Coral's projects are situated along the Cortez gold trend, which lies southwest of the renowned Carlin trend. The Cortez and Carlin trends represent the United States' key gold region, accounting for three-quarters of the country's gold output. Coral's primary properties---Robertson, Excluded, Norma Sass and Ruf---lie in the south Crescent Valley region. Coral owns 100% interest in the Robertson claims, while the Excluded Claims operate under a 61/39 joint venture (carried interest) with Barrick Gold Mines. Norma Sass and Ruf are joint ventures with Levon Resources Ltd. Coral Gold also holds 100% interest in the Lander Ranch and Blue Nugget claims, located immediately north of Robertson.
Shares issued: 32,513,391 Options: 2,555,500 Warrants: 7,000,120 + 434,427 (Finder's Warrants) - Total: 7,434,547 Fully Diluted 42,503,438
