Movers and SHAKERS
Newrange Gold (NRGOF)(NRG:CA)
Increasing the Opportunity Set Within the Red Lake Area
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.
Acquiring the Argosy Mine. Newrange Gold agreed to acquire the past-producing, high-grade Argosy Mine in the Red Lake Mining Division in northwestern Ontario. Newrange will purchase Cangold Limited, a subsidiary of Great Panther Mining Ltd. and the owner of Argosy, for C$100 thousand in cash and the issuance of C$650 thousand in Newrange shares to Great Panther at closing, which is expected within 90 days. On the first anniversary of closing, Newrange will issue C$250 thousand in Newrange shares to Great Panther.
Unrealized potential. The Argosy Mine closed in 1952 and has experienced little exploration below the old mine workings. It offers significant potential to extend the mineralization to depth and to 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 four to a depth of ...
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.