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Posts tagged ‘Golden Predator Corp (GPD)’

Reaping the harvest

January 18th, 2013

Golden Predator to become royalties and streaming company Gold Bullion Royalty Corp

by Greg Klein

(Update: Effective February 22, 2013, Golden Predator Corp began trading as Americas Bullion Royalty Corp TSX:AMB.)

In a late afternoon announcement January 18, Golden Predator Corp TSX:GPD proposed a new name and strategy. Currently an advanced-stage exploration company moving towards production, Golden Predator plans to become Gold Bullion Royalty Corp, a company “focused entirely on royalty creation.”

The newly formed Golden Predator Canada Corp would continue advancing Yukon’s Brewery Creek towards its targeted 2014 gold production.

The proposed new company, Golden Predator Canada Corp,
would continue advancing Yukon’s Brewery Creek towards
its targeted 2014 gold production.

The company stated it “intends to build on its existing portfolio of 34 projects to increase revenue and provide lower risk exposure to shareholders through a variety of gold and silver projects in which it will retain a royalty, metal stream or other interest.

“The company plans to divest Golden Predator Canada Corp, which will continue to advance the Brewery Creek Project, as well as a number of other significant properties across the Yukon. This proposed segregation of its two main business components, by spin-out or other mechanism, is designed to maximize shareholder value by allowing the market to independently value two very different businesses.”

How that will happen has yet to be determined. Pending tax and legal advice, the process could involve “a plan of arrangement, dividend or other suitable method” which would have shareholders owning both companies, which would be staffed independently. Golden Predator Canada Corp would apply for a TSX or TSXV listing.

The Gold Bullion portfolio already includes gross proceeds royalties on Midway Gold’s TSXV:MDW Pan and Gold Rock deposits, a 4% GPR on Barrick Gold’s TSX:ABX DTR property, a 1% GPR on a nearby Barrick property and a 2% NSR on Silver Predator’s TSX:SPD Taylor Silver project.

The statement added, “The company controls a royalty package of 34 North America properties, most of which are owned by Gold Bullion Royalty Corp and under lease to a variety of companies including Evolving Gold [TSX:EVG], Orsa Ventures [TSXV:ORN], Columbus Gold [TSXV:CGT],” among others.

“The royalty portfolio also includes several deeded royalties covering projects of McEwen Mining [TSX:MUX], NV Gold [TSXV:NVX] and Silver Scott Mines [OTCPK:SILS].” While the royalty packages brought in $799,762 last year, the company expects royalty revenue to increase as its portfolio grows and projects advance.

The royalty portfolio is “unique in the mineral development industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash),” the statement added.

Golden Predator Corp’s stock opened January 18 at $0.345, a penny higher than its previous close. The shares then reached $0.35 before closing on $0.33. With 153 million shares outstanding, the company had a press time market cap of $50.49 million.

Cross-continent quest

October 4th, 2012

News from Saskatchewan, Mexico, Yukon and the Dominican Republic

by Greg Klein
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A third mine has begun operations at penny-stock gold-producer Golden Band Resources’ TSXV:GBN central Saskatchewan La Ronge Gold Project. The first ore shipment left the Komis open pit on October 3 for the company’s Jolu Mill, 32 kilometres southwest. Komis is expected to produce 340,000 tonnes grading an average 6.62 grams per tonne gold over an 18-month life.

“The Komis orebody remains open along strike and at depth,” company President Rob Garden said in an October 4 news release. “More drilling is planned that we believe will delineate an increased resource.”

The company began commercial production from its Roy Lloyd underground mine in April 2011, with additional production from its EP open pit starting in December 2011. Golden Band’s La Ronge land package covers 870 square kilometres.

News from Saskatchewan, Mexico, Yukon and the Dominican Republic

Crew members examine drill core at GoGold’s flagship San Diego Project in Mexico.

But cash costs of $1,377 an ounce during fiscal 2013 Q1 (ending July 31, 2012) contributed to a quarterly net loss of $3.6 million. The company projects fiscal 2013’s cash costs between $1,000 and $1,150 an ounce. Golden Band expects to produce about 40,000 to 45,000 ounces during that year.

Golden Band shares closed October 4 at $0.185 after opening the day at $0.175, half a cent below their October 3 close. The company’s 52-week high and low are $0.35 and $0.14.

Among companies reporting assays on October 4, GoGold Resources TSXV:GGD announced some long intervals from the Chispa De Oro Target of its flagship San Diego Project in Durango State, Mexico. Some highlights include

  • 56.9 grams per tonne silver, 0.21 g/t gold and 0.65% copper over 129.7 metres
  • (including 111.5 g/t silver, 0.42 g/t gold and 1.08% copper over 70.1 metres)
  • (including 96.3 g/t silver, 0.28 g/t gold and 3.37% copper over 22 metres)
  • 33.4 g/t silver, 0.09 g/t gold and 0.25% copper over 83.5 metres
  • (including 43 g/t silver, 0.13 g/t gold and 0.28% copper over 47.5 metres)
  • (including 35 g/t silver, 0.11 g/t gold and 0.32% copper over 17 metres)
  • 12.6 g/t silver, 0.02 g/t gold and 0.31% copper over 118.6 metres
  • (including 70.5 g/t silver, 0.1 g/t gold and 1.3% copper over 18.5 metres)
  • 11 g/t silver, 0.02 g/t gold and 0.36% copper over 104.2 metres
  • (including 17 g/t silver, 0.02 g/t gold and 0.48% copper over 55.1 metres)

True widths have yet to be determined. Depths extend to 130 metres.

An additional drill is now focusing on the Chispa South Target, within the 3.5-kilometre Chispa De Oro Target, which the company describes as a “large high-sulphidation epithermal system potentially underlined by a silver-gold-copper porphyry.” Chispa South shows an intrusive quartz diorite and injection breccia which GoGold believes is part of a porphyry system in the area. The breccia and the quartz diorite intrusive are exposed on surface, the company stated.

GoGold has an April 2012 resource estimate for its Parral Tailings Project to the north, in Chihuahua State. Using a cutoff of 0.4 g/t gold-equivalent, the measured category shows 34,000 gold ounces and 4.7 million silver ounces, while the indicated category shows 180,000 gold ounces and 21.7 million silver ounces.

GoGold shares held steady at $1.40 on October 4 after closing the previous day at $1.38. The company’s 52-week high and low were $1.78 and $1.11.
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