Movers and SHAKERS
Allegiant Gold (AUXXF)(AUAU:CA)
Methodical Approach Leads to Favorable Outcomes
Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, and others.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Equity financing provides financial flexibility. Allegiant Gold raised gross proceeds of C$5.0 million with the issuance of 12,500,000 units in a bought deal that is expected to close on August 17. Net proceeds amount to C$4.7 million after deducting the underwriters' fee but before deducting expenses of the offering which are estimated to be C$300 thousand and will be paid from proceeds of the offering. The underwriters have an option to purchase an additional 1,875,000 units up to 30 days following the closing of the offering. Each unit consists of one common share and one-half of one common share purchase warrant.
Inferred gold resources increase 41%. Allegiant released an updated resource estimate and NI 43-101 technical report for the Eastside and Castle properties in Nevada. Eastside inferred gold resources total 1,090,000 gold ounces and 8,700,000 silver ounces, while Castle inferred resources total 314,000 gold ounces. Inferred gold resources increased 41% compared to the previous NI 43-101 which ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.