Movers and SHAKERS
Newrange Gold Corp. (NRGOF)(NRG:CA)
Investing in a Known Asset
As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.
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.
Argosy gold mine acquisition closed. Newrange Gold closed the acquisition of the Argosy Gold Mine in the Red Lake Mining Division of northwestern Ontario. After producing 101,875 ounces of gold and 9,788 ounces of silver at an average gold grade of 12.7 grams per tonne, the Argosy Mine closed in 1952 and has experienced little exploration below the historic workings. It offers significant potential to extend the mineralization to depth and discover new vein systems. The property is comprised of 43 patented claims and 17 mining licenses encompassing 604 hectares. While 12 vein systems are known, past production focused on only 4 to a depth of only 270 meters. The mine is 10 kilometers northwest of the Springpole Gold Project, the largest gold deposit in the Birch Uchi Belt, and less than a kilometer from Newrange Gold’s North Birch project.
Terms of the deal. Newrange acquired all shares of Cangold Ltd., a subsidiary of Great Panther Mining Ltd. and the owner of Argosy, for C$100,000 and issued 4,461,007 Newrange common shares to Great Panther at closing. It will issue C$250,000 in Newrange common shares to Great Panther on November 1, 2022. Shares issued will be subject to a four-month hold period ...
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.