Previous Page 1 | 2
South of 4-Js, Teuton’s Tennyson gold-copper property has been optioned to a Hunter Dickinson company, Brigade Resources. “They did a substantial amount of work last season and there are plans for a major drilling program this coming season, but that’s predicated on the dollars they can raise,” says Assaly.
Having discovered High North’s King Tut gold zone 150 metres south of Pretium Resources’ TSX:PVG’s Brucejack property last October, Teuton is now seeking an optionee for that project as well. “The economic model which [Teuton president Dino Cremonese] has been using for a number of years is one in which he acquires properties and if we can’t do work on them ourselves we either option them to third parties or do joint ventures,” Assaly explains.
Not all Teuton options go swimmingly, however. Last December American Creek Resources TSXV:AMK launched a “$150-million conspiracy/defamation litigation” against 26 defendants including Teuton, alleging they defamed and “colluded to intentionally harm American Creek and its business.” The latest in a series of conflicts between the two companies, the lawsuit focuses on comments allegedly posted on the Stockhouse bullboard. In a subsequent news release, Teuton stated it “is of the view that the lawsuit is without merit and will vigorously defend itself.”
Four-Js project operator Rotation Minerals may earn a 50% interest in the property by paying $180,000 and spending $1.8 million by 2014. The company may earn an additional 20% on reaching feasibility.
Rotation is based in the northwestern B.C. town of Stewart, an important regional supply centre. Although the company considers 4-Js its flagship, it also holds an 80% interest in the region’s historic Scottie gold mine. Rotation president/CEO Edward Kruchkowski is a director of Mountain Boy Minerals TSXV:MTB, another active Golden Triangle explorer. The region, just east of the Alaska Panhandle, is best known for such major finds as the historic Premier and Eskay Creek mines, Pretium’s Brucejack and Snowfield properties and Seabridge Gold’s TSX:SEA Kerr-Sulphurets-Mitchell (KSM) project.
Teuton shares opened February 14 at $0.12, a penny above their previous close, then ended the day on $0.125.
Rotation stock opened February 14 at $2.04, 10 cents above its previous close, before ending the day at $2.05.
Previous Page 1 | 2
Pages: 1 2