NYBob
5 years ago
GCM News $15 Mil. Eric Sprott Investment
T.GCM |
TORONTO, Oct. 30, 2019 (GLOBE NEWSWIRE) --
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) is pleased to announce
that Eric Sprott has agreed to purchase 3,260,870 Units of the Company
in a non-brokered private placement (the “Private Placement”) at a
price of C$4.60 per Unit, representing a 4% discount to the five-day
volume weighted average price of $4.79 for the period ended October 29,
2019, for a total investment of $15 million.
The proceeds of the Private Placement will be used for general working
capital and corporate purposes.
Closing of the Private Placement is subject to the receipt of
regulatory approvals, including the Toronto Stock Exchange, and is
expected to close two business days following receipt of such approval.
Each Unit consists of one common share and one common share purchase
warrant exercisable into a full common share at $5.40 per share for a
period of four years from the date of issuance.
Serafino Iacono, Executive Chairman of Gran Colombia, stated, “On behalf
of the Board and Management of Gran Colombia, I am pleased to welcome
Mr. Eric Sprott as a major investor in our Company.
Our success in the turnaround of Gran Colombia has led to an increase
in gold production, earnings and free cash flow and has strengthened
the Company’s financial position.
In September, we were recognized in the inaugural TSX30 based on the
increase in our share price over the last three years.
We see the investment by Mr. Sprott, a well-known gold investor, as
solid endorsement of the potential for further appreciation i programs
at our high-grade Segovia Operations with approximately 70,000 meters
of drilling over the next 1n Gran Colombia’s shares.
We are about to ramp up our near-mine and regional exploration 8 months
and we are unlocking value in our Marmato Project through a spin out
to a separate-listed vehicle, in which we will maintain a control
position, to fund a major underground mine expansion.
We look forward to the relationship with Mr. Sprott as we continue to
execute our strategy.”
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its
primary focus in Colombia where it is currently the largest underground
gold and silver producer with several mines in operation at its Segovia
and Marmato Operations.
Gran Colombia is continuing to focus on exploration, expansion and
modernization activities at its high-grade Segovia Operations and,
through a spin out transaction with Bluenose Gold Corp. announced on
October 7, 2019, Gran Colombia is progressing toward a major expansion
and modernization of its underground mining operations at
the Marmato Project.
Additional information on Gran Colombia can be found on its website at
http://www.grancolombiagold.com
and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 27, 2019 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@grancolombiagold.com
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Depcom
11 years ago
iShares COMEX Gold Trust [$IAU] due diligence
click in the textarea above and press ctrl + c to copy the dd notes to your clipboard
$IAU
DD Notes ~ http://www.ddnotesmaker.com/IAU
##### recent news/filings ~ source: finance.yahoo.com
Tue, 17 Sep 2013 16:32:00 GMT ~ [video] Futures Now: Hold gold into the Fed?
read full: http://video.cnbc.com/gallery/?video=3000200026&__source=yahoo|headline|quote|video|&par=yahoo
*********************************************************
Tue, 17 Sep 2013 15:57:00 GMT ~ Gold: 'Taper This'
read full: http://seekingalpha.com/article/1698772-gold-taper-this?source=yahoo
*********************************************************
Tue, 17 Sep 2013 14:45:14 GMT ~ 4 ETFs to Watch Ahead of Key Fed Decision
[Zacks] - These ETFs could be in focus as the Fed delivers a crucial decision on QE.
read full: http://finance.yahoo.com/news/4-etfs-watch-ahead-key-144514247.html
*********************************************************
Tue, 17 Sep 2013 14:03:00 GMT ~ [video] Gold Traders Await Fed
read full: http://www.thestreet.com/_yahoo/story/12039699/1/gold-traders-await-fed.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA
*********************************************************
Mon, 16 Sep 2013 20:54:43 GMT ~ The Future Of Money Is Digital, Not Physical
read full: http://seekingalpha.com/article/1697102-the-future-of-money-is-digital-not-physical?source=yahoo
*********************************************************
##### chart ~ source: stockcharts.com
##### chart ~ source: eoddata.com
##### company info ~ source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/IAU/company-info
Ticker: $IAU
OTC Market Place: Not Available
CIK code: 0001278680
Company name: iShares COMEX Gold Trust
Incorporated In: NY, USA
##### extra dd links
Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001278680&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/IAU/filings
Latest financials: http://www.otcmarkets.com/stock/IAU/financials
Latest news: http://www.otcmarkets.com/stock/IAU/news - http://finance.yahoo.com/q/h?s=IAU+Headlines
Major holdings: http://data.cnbc.com/quotes/IAU/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=IAU+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/IAU.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=IAU
RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=IAU&search=search
DTCC: http://search2.dtcc.com/?q=iShares+COMEX+Gold+Trust&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=iShares+COMEX+Gold+Trust
Corporation WIKI: http://www.corporationwiki.com/search/results?term=iShares+COMEX+Gold+Trust&x=0&y=0
http://www.pennystocktweets.com/stocks/profile/IAU
##### last known share structure ~ source: otcmarkets.com
Market Value: $189,528,000 a/o Sep 16, 2013
Shares Outstanding: 14,900,000 a/o Jun 30, 2007
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value
##### business description ~ source: otcmarkets.com
IC
DD Notes ~ http://www.ddnotesmaker.com/IAU
jellogan
14 years ago
State Street Can Afford Gold ETF Fee War For a While Yet
By Timothy Wood
Dec 17 2010 9:37AM
ST. LOUIS -- Much has been made of this week’s surge of buying in BlackRock’s iShares Gold Trust [IAU]. Some of it has erroneously been reported as a daily trading volume record, but rather it was a leap in new gold ounces added to the IAU on relatively small volumes.
Bloomberg news reports that around “28 million shares changed hands yesterday in a single block transaction... The trade, which occurred at 1:41 p.m. in New York at $13.6762 a share, was worth about $383 million.”
As of Tuesday this week, iShares reported the addition of 27 million new shares along with 264 thousand ounces taking total net asset value in the Trust to $5.2 billion.
That has drawn a lot of attention to BlackRock as State Street’s SPDR Gold Shares [GLD] new competitive nightmare, and everyone is pinning it on the former’s lower fees that kicked in this past June. IAU has an expense ratio of a quarter point compared with GLD’s two fifths having initially been matched.
Consequently, investors are interpreting the fee cut as the fuel that is driving a significant increase in IAU’s market value. That was underscored by data from EPFR Global showing that between July 1 and October 31, IAU had $685 million in net inflows and GLD had $961 million in outflows.
That does indicate there might be a swap going on though it’s hard too see how the expenses incurred could be reasonably offset by just a 15 basis point difference in expense ratios. It’s more likely that new gold investment flows are going to IAU, and it is evident that GLD’s growth relative to gold prices has stalled. That said, it remains extraordinary compared with gold equities which are wallowing.
There was a resurgence in gold ETF buying in April this year as European sovereign default risks ballooned.
Since April 22 this year IAU has increased its total NAV by $2.33 billion, an 82% increase. Comparably, GLD has “only” improved 39%, but by a whopping $16.1 billion over the same period so the scale makes the comparison rather poor. Gold prices have increased 23% in that time.
However, the differences since 1 July are starker. IAU has grown by $1.9 billion, or 56%, since then compared with $5.2 billion, or just 10%, for GLD. In the same period the gold price has increased by $161 per ounce, or 13%. So GLD is clearly underperforming compared with IAU, and it is well illustrated in Chart 1.
That has raised speculation that GLD will imminently cut its expense ratio in order to stop the leakage to IAU. However, investors should not forget recent history.
IAU became increasingly less competitive with GLD in early 2008, and it was decimated by March 2009. At that point IAU had just 6% of GLD’s total gold on hand. It had more commonly traded at around 10% of GLD’s gold inventory. (See Chart 2)
The declines was clearly a function of the credit crisis having its epicenter in the US, where distressed investors were liquidating assets to stay afloat. When exotic assets had lost their ability to trade, let alone their value, IAU was obviously going to suffer.
IAU should be seen as recovering rather than outperforming at this point. Once IAU’s gold passes 12.5% of GLD’s total it will be time to place bets on State Street slashing fees. Even then, GLD is so much bigger than IAU that it will probably take the risk for a while longer to preserve fee income.
Likewise, GLD has superior liquidity which attracts a substantial premium in markets that remain volatile and risk averse.
So we don’t see much chance of State Street being drawn into a fee war any time soon though things could change quickly if some of the large funds invested in GLD decide to make a point of it.
http://www.kitco.com/ind/TimWood/dec172010.html
flemsnopes
15 years ago
Intrepid Mines Limited: Tumpangpitu Porphyry Copper-Gold-Molybdenum Zone Expanded
BRISBANE, AUSTRALIA -- (Marketwire) -- 02/11/10 --
Intrepid Mines Limited (TSX: IAU)(ASX: IAU) (the "Company") is pleased to report that diamond drill hole GTD-09-112 at the Tumpangpitu Prospect, Tujuh Bukit Project has intersected two significant mineralised zones, intersecting high sulphidation gold-copper- silver mineralisation and porphyry related copper-gold-molybdenum mineralisation.
GTD-09-112 confirms:
-- the gold rich nature of the porphyry mineralisation, -- mineralisation is open at depth. The last 2 m samples of the drill hole assayed 0.87 g/t gold, 0.42% copper and 172 ppm molybdenum, -- The increasing significance of molybdenum in the porphyry system with values up to 516 ppm molybdenum (see diagrams below).
The mineralisation is consistent with the depth of mineralisation intersected in other holes, the top of which is only approx. 200 m below sea level, or below the lower topographic areas at the base of the Tumpangpitu hill.
This drill hole confirms the previous interpretations of a high sulphidation gold-silver +/- copper zone overlying and partially overprinting a porphyry copper-gold-molybdenum zone.
GTD-09-112 was drilled on the same traverse as previously reported holes GTD-26, 29 and 56, and approximately 200 m grid south of the traverse that comprises holes GTD-35 and 46 (see diagrams below).
The result from GTD-09-112 has delivered improved interpretation of possible geometries for the porphyry copper-gold-molybdenum system.
Results from GTD-09-112 are:-
---------------------------------------------------------------------------- High Gold- --------------- equiv.
sulphidation Metres Gold Silver (g/t) Copper --------------- (g/t) (g/t) (Au + (%) mineralisation Ag) ---------------------------------------------------------------------------- 130 - 304 m 174 0.29 6.0 0.38 0.22 ---------------------------------------------------------------------------- Including 130 - 156 m 26 0.16 7.2 0.27 0.39 ---------------------------------------------------------------------------- 192 - 200 m 8 0.32 5.9 0.41 0.43 ---------------------------------------------------------------------------- 224 - 252 m 28 0.53 12.6 0.72 0.35 ---------------------------------------------------------------------------- 272 - 304 m 32 0.71 9.0 0.85 0.23 ---------------------------------------------------------------------------- Porphyry --------------- copper-gold --------------- Gold Copper Molybdenum mineralisation (g/t) (%) (ppm) ---------------------------------------------------------------------------- 656 - 820 164 0.46 0.45% 99 (EOH) metres ---------------------------------------------------------------------------- Including 700 - 756 m 56 0.55 0.6% 77 ----------------------------------------------------------------------------
The diagrams below show drill intercepts and mineralisation types on composite cross sections.
(i)3.3 Million ounce gold equivalent Inferred Resources based on - -- Zone C: 1.1 million ounce gold equivalent Inferred Resource at a 0.5 gram per tonne gold equivalent cut-off based on 39.3 million tonne at 0.55 grams per tonne gold, 26 grams per tonne silver -- Zone A: 1.47 million ounce gold equivalent Inferred Resource at a 0.5 grams per tonne gold equivalent cut-off based on 43.6 million tonne at 0.62 grams per tonne gold, 28 grams per tonne silver.
-- Zone B: 0.69 million ounce gold equivalent Inferred Resource at a 0.5 grams per tonne gold equivalent cut-off based on 21.5 million tonne at 0.74 grams per tonne gold, 16.2 grams per tonne silver.
To view the accompanying map, please visit the following link: http://media3.marketwire.com/docs/iaumap210A.pdf
To view the Drill Section 1 map, please visit the following link: http://media3.marketwire.com/docs/iaumap210b.pdf
To view the Drill Section 2 map, please visit the following link: http://media3.marketwire.com/docs/iaumap210c.pdf
Forward-looking statements
This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.
Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Statements relating to gold resource estimates are expressions of judgment, based on knowledge and experience and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate.
Forestry Activities
The Indonesian Forestry Law restricts non forestry activities within protection forests and prohibits mining using an open pit method in protection forest areas. Intrepid's Alliance partner, PT IMN, is working with relevant Indonesian authorities to allow for a review of forest land status if the exploration activities support such a decision.
Qualified Person
The information in this announcement that relates to mineral resources is based on information compiled by or under the supervision of Dr. Phillip Hellman, who is an independent consultant to Intrepid Mines Limited. Dr Hellman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as an Independent Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and an Independent Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Dr Hellman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Dr Hellman has undertaken independent verification sampling and assaying of drill core with a close agreement of results with those previously reported. A 40 x 40 x 6 metre block model was used for the quoted estimates. If smaller selective mining units are considered it is estimated that an approximate 10 to 20% lift in grade may result. In future, increasing the drilling density in areas of higher gold grades is anticipated to achieve a higher grade outcome.
The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Malcolm Norris, who is a full-time employee of Intrepid Mines Limited. Mr. Norris has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Mr. Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Sample Analysis
Intrepid exercises a strict chain of sample custody in its drilling program at Tujuh Bukit. Joint Venture personnel remove core from the drill rig and deliver it to a project geologist who logs the core and marks the core into two metre sample intervals. Intrepid and Joint Venture personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the laboratory. The remainder of the split core remains on site.
Samples are securely packaged, batched, and then transported under supervision to Intertek's laboratory facility in Jakarta. At the laboratory, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are re-analysed by conventional atomic absorption methods to determine the absolute values of these metals.
Gold Equivalence Statement
Gold equivalence ("AuEq") has been calculated based on a US $650/oz gold price and US $11/oz silver price. Metallurgical testing results achieved recoveries of app. 87% for Au and 80% for Ag. The gold equivalent grade was calculated using the following formula: AuEq equals Au + (Ag / 65). The ratio of 65:1 is derived from the relative prices and metallurgical recoveries of each metal, or (Au Price x Au Recovery) / (Ag Price x Au Recovery) equals (650 x 0.87)/(11 x 0.80) equals 0.65 (rounded up). It is the Company's opinion that the gold and silver included in the metal equivalent calculation have a reasonable potential to be recovered as outlined in the Metallurgical Testwork Update section of this announcement. All ounces are reported and calculated as troy ounces.
Contacts: Intrepid Mines Limited - Brisbane, Australia Brad Gordon Chief Executive Officer +61 7 3007 8011 bgordon@intrepidmines.com
Intrepid Mines Limited - Toronto, Canada Greg Taylor +905 337 7673 Mobile: 416 605 5120 gtaylor@intrepidmines.com
flemsnopes
15 years ago
Recent Street.com Rating (October 31, 2009 at $102.67)
SUMMARY
We rate iShares COMEX Gold Trust at A+. This overall rating indicates it is among the top 10% of all closed end mutual funds in its peer group. Positive factors that influence this rating include a well above average total return, low price volatility and low expense structure. The fund may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
Total return ranks very high in comparison with peers over the last three years. The iShares COMEX Gold Trust has returned an annual rate of 20.29% since inception. More recently, thefund has generated a total return of 18.06% in the last three years, 43.43% in the last year, and 17.93% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 99% of them. It has also outpaced 73% of its competitors on a one year basis for the period ending 10/31/2009. On a year to date basis, IAU has returned 18.47%.
Downside risk has been below average. IAU has a draw down risk of -25.72%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 20.9. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 10/31/2009, the fund was trading at a price of $102.67, which is 2.0% below its 52-week high of $104.76 and 5.0% above its 52-week low of $97.82.
Low expense ratio helps performance. On total assets of $2.05 billion, IAU maintains a low expense ratio compared to its Sector - Precious Metals peers of just 0.40% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As IAU is an exchange traded fund, it has no front end or back end load.
The iShares COMEX Gold Trust is managed by Index Strategies Group at BGFA. This fund is one of 196 BGFA exchange-traded funds launched since 3/12/1996 that we track.
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