http://www.321gold.com/editori…iarty/moriarty110922.html
Zitat von Bob MoriartyAlles anzeigen...Goliath has a project in the Golden Triangle named the Golddigger property. They have an option for 100% of the project subject to a 3% NSR. They have issued 200,000 shares and 200,000 warrants and paid about $600,000 in cash. If they spend $6 million in exploration and deliver a 43-101 by December 31, 2023 they can earn 49%. If they spend an additional $8 million by December 31, 2026 they will have earned the other 51%. They also have to pay $.50 an ounce for proven and probable ounces of gold equivalent or M&I ounces.
The Golddigger project consists of about 24,000 Ha of land located on tide water about 30 km southeast of Stewart BC in the nest of a bunch of similar mines and past producing silver/gold mines including the Dolly Varden Mine, and Homestake Ridge.
On the 7th of November the company released more outstanding drill results including 22.03 g/t Au and 127.62 g/t Ag over eleven meters. Their first batch results from last year demonstrated high grade intercepts in 96% of the holes drilled. That is remarkable. Go to the Goliath website and scroll through the presentation just released and it will tell you everything you need to know about the project.
Their deal on the project is exceptional for them. I would guess they have already spent the $14 million in exploration. They will have to complete a 43-101 in the next 14 months but I don’t see that as any sort of issue. One thing that would be an issue for most companies would be how do they raise the tens of millions necessary to outline a substantial resource.
They thought about that and on page 4 of their presentation they show having $25 million in potential income from the warrants already in the money. I’m going to make a strange prediction. They will get taken out before they need to do another private placement. The warrants and options outstanding, all of which are in the money, amount to $33 million in total. I don’t know of a single junior that is true of, other than Goliath.
At today’s price Goliath has a market cap of $115 million in CAD. There is no question but they have a lot of gold, just how much? I think they have 3 million gold equivalent ounces up to maybe 6 million. They have more than enough cash for a lot of drilling and the more drilling, the more they will discover...