Proactive’s Post

Orford Mining Corp. (ORM-V)   Orford Mining announces acquisition by Alamos Gold      On January 15, 2024, Orford announced that it has entered into a definitive arrangement agreement with Alamos Gold Inc. (AGI-T, AGI-NYSE) pursuant to which Alamos shall acquire Orford for a total consideration of ~$24M. Orford is a Québec well diversified focused explorer with assets in the Cape Smith Belt, Nunavik (Qiqavik, West Raglan and lithium exploration projects comprising a land package totaling over 177,000 ha) and 4 gold projects totalling nearly 12,000ha in the Joutel region of the Abitibi District. Alamos, shall acquire all of the issued and outstanding common shares of Orford for deemed consideration of $0.10 per Orford share, representing a total equity transaction value (on a 100% basis) of ~$24 M on a fully diluted, in-the-money basis. Orford’s shareholders shall receive 0.005588 of an Alamos common share for each Orford share held. This is a non-arm’s length transaction as Alamos currently owns 61,660,902 Orford shares (~27.5% of the issued and outstanding Orford shares). The Transaction shall be effected by way of a court-approved plan of arrangement and subject to shareholder approval at a special meeting of shareholders expected to be held in March 2024. The transaction provides value in light of the current junior mining market along with opportunity to continue to benefit from the potential success on the Orford properties. Alamos has the skill set and balance sheet to advance the Orford projects through the next stages of exploration and development. See end of: https://lnkd.in/eUQ-tPuD See also: https://lnkd.in/gJkSCsV4   https://lnkd.in/enkVMTFt).   https://lnkd.in/eQxSZTRP #quebec #abitibi #nunavik #gold #lithium #exploration #alamos

Mako Mining Corp. (TSXV: MKO) (OTCQX: MAKOF) and Goldsource Mines Inc. (TSX.V: GXS, OTCQX: GXSFF) announced today that they have entered into an arrangement agreement, pursuant to which Mako will acquire all of the issued and outstanding common shares of Goldsource, in exchange for common shares of Mako. Highlights: * Goldsource shareholders will get 52% premium based on 20-day VWAP, and 40% premium based on share price at the time of news coming out. * The deal is a great way for Mako to diversify from its Nicaraguan operations. * The combined company will be one step closer to producing 100,000 ounces per year of gold. Mako’s shares are down a 5% on the news, while Goldsource holders woke up to a nice 19% uptick to start closing the gap in valuation of the transaction. Want to Learn More? #TheNextBigRush

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Coverage stock Auric Mining Limited (ASX:AWJ) is a gold story that is worth keeping an eye on, as it enjoys a gradual market re-rating based on its appeal as a relatively low-risk, fully-funded growth situation. AWJ is a junior gold explorer and producer, with a portfolio of projects that are situated within the prolific Eastern Goldfields of Western Australia – comprising Jeffreys Find, Widgiemooltha and Spargoville. The company’s relatively low-risk incremental growth strategy is based upon self-sustaining development at each of its planned gold operations. By the end of 2023, Stage One mining had been completed at Jeffreys Find, with 9,741 ounces of gold sold for $29.28 million in gross revenue (from 175,865 tonnes processed), generating a net cash surplus of $9.53 million (of which AWJ’s 50% share was $4.77M). Stage Two mining at Jeffreys Find will commence this week, with the aim of extracting a minimum of 300,000 tonnes of ore (70% more than Stage One). AWJ held $4.5M in cash reserves at the end of 2023. By being prepared to retain a 50% stake in Jeffreys Find project net cashflows, AWJ has avoided the time, complexity and costs of mobilizing equipment and hiring contractors independently, as well as eliminating the requirement for it to fund its proportionate share of working capital for the project. With BML handling the mining operations, AWJ can realise returns from Jeffreys Find far quicker than if it was running the project on a stand-alone basis. This has also enabled AWJ to take full advantage of the strong A$ gold price environment and also enables AWJ to focus on moving its second project, Munda, towards production, in late 2024/early 2025. #gold #equities #commodities #resources #mining #ausbiz

Carnavale Resources Ltd (ASX:CAV) has moved closer to becoming a #GoldProducer after submitting Mining Lease Application (MLA) M40/362 for the high-grade Swiftsure deposit within the Kookynie Gold Project in Western Australia. Swiftsure’s initial mineral resource estimate sits at 475,000 tonnes at 5.8 g/t #gold for 85,000 ounces, with the bonanza zone containing about 53,000 ounces at 31.2 g/t. CAV has calculated a pre-tax net present value (NPV) of $91 million, with an internal rate of return of 192% at a gold price of A$3,500 per ounce (current prices sit above A$3,800). Overall, the company expects undiscounted cashflow of about $105 million from the deposit. More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #BonanzaGold http://ow.ly/T4US105CYGT

Coverage stock Auric Mining Limited (ASX:AWJ) is a gold story that is worth keeping an eye on, as it enjoys a gradual market re-rating based on its appeal as a relatively low-risk, fully-funded growth situation. AWJ is a junior gold explorer and producer, with a portfolio of projects that are situated within the prolific Eastern Goldfields of Western Australia – comprising Jeffreys Find, Widgiemooltha and Spargoville. The company’s relatively low-risk incremental growth strategy is based upon self-sustaining development at each of its planned gold operations. By the end of 2023, Stage One mining had been completed at Jeffreys Find, with 9,741 ounces of gold sold for $29.28 million in gross revenue (from 175,865 tonnes processed), generating a net cash surplus of $9.53 million (of which AWJ’s 50% share was $4.77M). Stage Two mining at Jeffreys Find will commence this week, with the aim of extracting a minimum of 300,000 tonnes of ore (70% more than Stage One). AWJ held $4.5M in cash reserves at the end of 2023. By being prepared to retain a 50% stake in Jeffreys Find project net cashflows, AWJ has avoided the time, complexity and costs of mobilizing equipment and hiring contractors independently, as well as eliminating the requirement for it to fund its proportionate share of working capital for the project. With BML handling the mining operations, AWJ can realise returns from Jeffreys Find far quicker than if it was running the project on a stand-alone basis. This has also enabled AWJ to take full advantage of the strong A$ gold price environment and also enables AWJ to focus on moving its second project, Munda, towards production, in late 2024/early 2025. #gold #equities #commodities #resources #mining #ausbiz

G Mining Ventures Corp. today published strong results for their high-grade Oko West #gold project in #Guyana. Key highlights from the study show: ✅After-tax NPV5% of $1.4 billion, IRR of 21% and payback of 3.8 years at $1,950/oz base case gold price (long-term consensus) ✅After-tax NPV5% of $2.5 billion, IRR of 31% and payback of 2.0 years at $2,500/oz spot gold price ✅Average annual gold production of 353,000 ounces at an AISC of $986/oz for 12.7 years ✅Startup capital cost of $936 million and sustaining capital of $537 million over the life of mine ✅An average of 1,260 direct permanent jobs to be created from the Oko West Project To read the full announcement, click here: https://bit.ly/4efAMXV #PEA #miningnews #goldinvesting

Caledonia Mining (CMCL) Corporation PLC (AIM:CMCL, NYSE-A:CMCL) declared a quarterly dividend of US$0.14 per share as it reported a robust performance of Zimbabwe's Blanket mine in 2023, with cash flows improving in the second half. The dividend was kept the same level as the prior year even though, as revealed in a trading update at the start of this month, production was in line with expectations but one-off costs took the edge off profits. Chief executive Mark Learmouth said: “We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer.” Following encouraging underground exploration restarted during the year, he said a revised resource statement is planned to be published in the second quarter of 2024 that incorporates an increase in Blanket's life-of-mine. More at #Proactive #ProactiveInvestors #CaledoniaMiningCorporation #mining #blanketmine http://ow.ly/eBFZ105nCTt

Perseus Mining Limited (ASX:PRU, TSX:PRU, OTC:PMNXF) has increased its interest in Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF) to 19.9%. On August 15, Perseus increased its interest in African #gold and West Africa by making a strategic equity interest in PDI, which holds the Bankan Gold Project in Guinea with an ore reserve of 3.05 million ounces. Perseus initially acquired a relevant interest in 13.82% of the issued shares of Predictive, with PRU chairman and CEO Jeff Quartermaine saying: “As a deliberate element of our capital management strategy, Perseus continues to assess and, where considered commercially appropriate, deploy our significant reserves of cash and bullion that totalled US$587 million at June 30, 2024, to pursue opportunities that will deliver material growth for our shareholders in coming years.  More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks http://ow.ly/bUTB105HPF9