Posted by AGORACOM-JC
at 6:19 PM on Wednesday, November 25th, 2020
Sheldon Inwentash, a serial entrepreneur, is chairman and chief executive officer of ThreeD Capital, a VC firm specializing in investments in the junior resource, blockchain and artificial intelligence sectors.
Mr. Inwentash has more than 30 years of investing experience and has been instrumental in raising $15 billion for his portfolio companies over the last 15 years. He co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5-billion) to name a few.
Posted by AGORACOM-JC
at 5:10 PM on Wednesday, November 25th, 2020
Announced that it has acquired 1,500,000 units (the “Units”) of St-Georges Eco-Mining Corp. (“St-Georges”) at a price of $0.10 per Unit
In consideration, the Company has issued an aggregate of 300,000 common shares of the Company at a deemed price of $0.48 per common share (the “Offering”) and made a cash payment in the amount of $6,000.
Each Unit of St-Georges consists of one common share (the “Share”) of St-Georges and one share purchase warrant (the “Warrant”) of St-Georges, with each Warrant being exercisable to acquire one additional Share at an exercise price of C$0.185 for a period of two years following the date of issuance.
TORONTO, Nov. 25, 2020 – ThreeD Capital Inc. (the “Company”) (CSE:IDK / OTCQB: IDKFF), a Canadian-based venture capital firm that invests in disruptive companies and promising junior resources companies, is pleased to announce that it has acquired 1,500,000 units (the “Units”) of St-Georges Eco-Mining Corp. (“St-Georges”) at a price of $0.10 per Unit. In consideration, the Company has issued an aggregate of 300,000 common shares of the Company at a deemed price of $0.48 per common share (the “Offering”) and made a cash payment in the amount of $6,000. Each Unit of St-Georges consists of one common share (the “Share”) of St-Georges and one share purchase warrant (the “Warrant”) of St-Georges, with each Warrant being exercisable to acquire one additional Share at an exercise price of C$0.185 for a period of two years following the date of issuance.
All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on March 26, 2021.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to the legal action concerning the common shares of New Found Gold Corp. (the “Litigation”). All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur including, without limitation, risks relating to the timing, costs and potential outcome of the Litigation. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Posted by AGORACOM
at 9:32 AM on Wednesday, November 25th, 2020
Planning to Use Hydrothermal Energy to Drill Iceland Gold Targets
St-Georges Eco-Mining Corp. plans on reviving Iceland’s long-dormant gold mining industry by using its vast abundance of renewable energy to drill for gold. St. George’s emphasis will be on making the most eco-friendly and socially responsible gold in the world.
St-Georges, is the only junior exploration company to own all the mineral rights of a western country
Controls all the active mineral tenures in Iceland
St-Georges plans to mine with robots, while the equipment and processing primarily will use electricity made from geothermal and hydro power by Landsvirkjun, the state-owned power company
Iceland is one of the countries with the highest ratio of green energy globally
Thormodsdalur Projectis the most advanced project in Iceland
Drilled a 124-meter-deep (407-foot-deep) hole in Thormodsdalur, outside Reykjavik, in September
Drilling up to 1,000 meters or up to 25 new shallow holes on the Thor Gold project
Opportunity to extract epithermal gold with geothermal power
Total area in excess of 4,600 km2 with 9 prospecting licences
Mineralization bearing outcrops were identified and sampled and brought to St-Georges’ secure facilities in Reykjavik for petrographic analysis in October
Iceland Resources ehf ( 100% St. George Eco-Mining )
Controls all the active mineral tenures
Including drill ready Thor Gold Project
One of the countries with the highest ratio of green energy
100% renewable energy and zero carbon footprint.
Mining In Iceland
St. George’s emphasis will be on making the most eco-friendly and socially responsible gold in the world
St. George’s anticipates Iceland’s gold to be sold with a premium.
St. George’s ideology is about making minimal disturbances to the ground.
Thormodsdalur have minimal visible activity when mining activity starts
St-Georges will use all the material extracted from the ground during the mining process
After the minerals are separated, the remainder would be used in building material and concrete.
FULL DISCLOSURE: St. George’s Eco-Mining is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 5:24 PM on Monday, November 23rd, 2020
As at September 30, 2020, the Company had cash, investments and digital assets of $13.9 million.
TORONTO, Nov. 23, 2020 – ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQB:IDKFF) a Canadian based venture capital firm that invests in disruptive companies and promising junior resources companies, is pleased to announce its results as at and for the three months ended September 30, 2020.
As at September 30, 2020, the Company had cash, investments and digital assets of $13.9 million.
As at September 30, 2020, net asset value per share was $0.41 as compared to $0.41 as at June 30, 2020. (See “Use of Non-GAAP Financial Measures” elsewhere)
Financial Highlights for thethree months endingSeptember30, 2020with comparatives:
Sheldon Inwentash, Chairman and CEO stated, “Over the past 18 months we have been quietly but deliberately building our portfolio with very early-stage investments in highly prospective companies in industries including fintech, artificial intelligence, smart buildings, blockchain, and precious metals. We are now just starting to see the early phase returns on many of these strategic investments and have reason to believe in our accelerating growth in 2021.”
Use of Non-GAAP Financial Measures:
This press release contains references to “net asset value per share” (basic and diluted) (“NAV”) which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. NAV (diluted) is calculated as total assets less total liabilities divided by the total number of common shares of the Company outstanding as at a specific date, calculated based upon the assumption that all outstanding securities of the Company that are convertible into or exercisable for common shares have been converted or exercised. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in ThreeD’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding our performance, and may assist in the evaluation of the Company’s business relative to that of its peers.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to the legal action concerning the common shares of New Found Gold Corp. (the “Litigation”). All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur including, without limitation, risks relating to the timing, costs and potential outcome of the Litigation. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Posted by AGORACOM
at 8:58 AM on Monday, November 23rd, 2020
Barrick commenced a scout drilling program on a number of prospects in the Ngayu greenstone belt
Scout drilling was undertaken at the Medere, Bakpau and Anguluku prospects to better understand the structural setting for the gold mineralisation
Ground exploration has also outlined additional high priority drill targets at Mokepa and Mongaliema and where some of the most significant trench results since the start of the Barrick joint venture have been obtained
TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Loncor Resources Inc. (“Loncor” or the “Company“) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to provide an update on its exploration activities within the Ngayu greenstone belt, where the Company has a joint venture with Barrick Gold (DRC) Limited (“Barrick”) as well as its own majority-owned projects.
Loncor received exploration reports from joint venture partner Barrick, who are managing and funding the joint venture that covers approximately 2,000 square kilometres of the Ngayu Archean greenstone belt. As announced previously, Barrick commenced a scout drilling program on a number of prospects in the Ngayu greenstone belt as well as continuing to delineate additional priority targets for follow-up drilling. Scout drilling was undertaken at the Medere, Bakpau and Anguluku prospects to better understand the subsurface geology including the structural setting for the gold mineralisation at these targets. Ongoing ground exploration has also outlined additional high priority drill targets at Mokepa and Mongaliema and where some of the most significant trench results since the start of the Barrick joint venture have been obtained (see Figure 1 below).
The east-west trending Medere mineralized zone is located approximately 10 kilometres south of Makapela and subparallel and 250 metres in the footwall to the south of the Makasi/Itali trend. Both these trends are located along a shear corridor between basalts and carbonaceous meta sediments coincident with a 800 metre long +100ppb gold in soil anomaly. Previous drilling along the Itali mineralized trend by Loncor intersected significant gold mineralization including 38.82 metres grading 2.66 g/t Au in core hole NIDD0001 and 14.70 metres grading 1.68 g/t and 3.95 metres grading 19.50 g/t Au in core hole NIDD0004 and where the depth of complete oxidation exceeded 130 metres. Three core holes were drilled by Barrick to obtain a better understanding of the structural setting of the mineralization at Medere and its relationship to the Itali mineralized trend with the best intersection to date of 9.05 metres grading 3.75 g/t Au from 39.82 metres in core hole ITDD0003 which is located 200 metres east of the Loncor hole NIDD0001. The Itali mineralized trend remains open to the east and further drilling is warranted on this mineralized trend.
Drilling at the Bakpau and Anguluku prospects were undertaken to test various geological concepts. At Bakpau, the favourable geological setting of a mineralized shear system hosted mainly within a coarse-grained quartz-monzonite intrusion at the contact with sheared and brecciated banded ironstone was tested. Resampling of old trenches outlined wide zones of gold mineralization including 70 metres grading 0.34 g/t Au and 33 metres grading 0.53 g/t Au. Two holes have been drilled and final assay results are awaited. At Anguluku, drilling was undertaken to test a complexly folded and thrust banded ironstone sequence below a barren overlying banded ironstone unit. Drilling results indicated that this prospect did not have the potential for hosting a Tier one deposit to meet Barrick’s filters and no further drilling is planned at this prospect.
At the Yambenda/Yasua prospect in the north of the Ngayu greenstone belt, a core rig has now been mobilised to test the prominent +9 kilometre long banded ironstone ridge associated with a number of +100 ppb gold in soil anomalies. A number of core hole sections will be drilled to fully evaluate this extensive strike length.
Ongoing exploration within the Ngayu joint venture generated new priority drill targets that have the potential to attain Barrick’s Tier 1 status at Mokepa and Mongaliema.
The Mokepa target is located on the northern margin of the major domain boundary adjacent to the interpreted F2 fold hinge in a structural setting similar to Barrick’s Kibali mine. The subsequent field mapping and trenching has defined a corridor of matrix-supported rheological contrast with complex geology composed of banded ironstone formation (BIF) and basalt interbedded with fine-grained sediments mainly with moderate to strong shearing associated with an alteration assemblage of moderate to intense silica-limonite-sericite+boxworks. Encouraging trench results have been received from trenches ADTR0004 and ADTR0005, 600 metres apart with wide zones of gold mineralization of 110 metres grading 0.50 g/t Au and 32 metres grading 0.99 g/t Au. Assay results are awaited from trench ADTR0006 which is located 1.5 kilometres southwest of trench ADTR0004 and where a 80 metre wide zone of sheared, altered and fractured BIF and basalt has been excavated (see Figure 2 below). The first core hole at Mokepa has now commenced.
Mongaliema is situated approximately 7 kilometres northwest of Loncor’s 100%-owned Makapela project where indicated mineral resources of 614,200 ounces (2.2 million tonnes grading 8.66 g/t Au) and 549,600 ounces (3.22 million tonnes grading 5.30 g/t Au) of inferred mineral resources have already been outlined by Loncor. The target area is a west northwest trending shear zone hosted within altered meta sediments with cherty units near the contact of a dolerite intrusive. During the quarter, geological mapping, auger drilling, scout-pitting and trenching was undertaken with an encouraging trench/artisanal pit assay result of 37.3 metres grading 1.48 g/t Au plus several rock samples from old artisanal workings yielding gold mineralization including 14.9 g/t, 5.23g/t, 2.9g/t and 2.43g/t Au. Pitting, trenching and augering is continuing to determine the full extent of this mineralized system.
Commenting on these latest results, Loncor’s President Peter Cowley said: “We are encouraged by the exploration results received to date from the Barrick joint venture and especially the generation by Barrick geologists of additional new, high priority drill targets such as Mokepa and look forward to receiving drilling results from this and other priority targets including Yambenda/Yasua in the north of the Ngayu belt. In terms of other drilling at Ngayu, the first hole at our 84.6%-owned Adumbi deposit has now been completed and the mineralized core section has been submitted to the independent S.G.S laboratory at Mwanza, Tanzania.”
About Loncor Resources Inc. Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Belt in the northeast of the Democratic Republic of the Congo (the “DRC”). The Loncor team has over two decades of experience of operating in the DRC. Ngayu has numerous positive indicators based on the geology, artisanal activity, encouraging drill results and an existing gold resource base. The area is 220 kilometres southwest of the Kibali gold mine, which is operated by Barrick Gold (TSX: “ABX”; NYSE: “GOLD”). In 2019, Kibali produced record gold production of 814,000 ounces at “all-in sustaining costs” of US$693/oz. Barrick has highlighted the Ngayu Greenstone Belt as an area of particular exploration interest and is moving towards earning 65% of any discovery in approximately 2,000 km2 of Loncor ground in the Ngayu Greenstone Belt that they are exploring. As per the joint venture agreements entered between Loncor and Barrick, Barrick manages and funds exploration on the said ground until the completion of a pre-feasibility study on any gold discovery meeting the investment criteria of Barrick. In a recent announcement Barrick highlighted six prospective drill targets and have commenced confirmation drilling in 2020. Subject to the DRC’s free carried interest requirements, Barrick would earn 65% of any discovery with Loncor holding the balance of 35%. Loncor will be required, from that point forward, to fund its pro-rata share in respect of the discovery in order to maintain its 35% interest or be diluted.
In addition to the Barrick joint ventures, certain parcels of land within the Ngayu Belt surrounding and including the Adumbi and Makapela deposits have been retained by Loncor and do not form part of any of the joint ventures with Barrick. Barrick has certain pre-emptive rights over the Makapela deposit. Adumbi and two neighbouring deposits hold an inferred mineral resource of 2.5 million ounces of gold (30.65 million tonnes grading 2.54 g/t Au), with 84.68% of this resource being attributable to Loncor via its 84.68% interest in the project. Loncor’s Makapela deposit (which is 100%-owned by Loncor) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).
Resolute Mining Limited (ASX/LSE: “RSG”) owns 26% of the outstanding shares of Loncor and holds a pre-emptive right to maintain its pro rata equity ownership interest in Loncor following the completion by Loncor of any proposed equity offering.
Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com
Posted by AGORACOM
at 8:48 AM on Monday, November 23rd, 2020
Interval contained gold mineralization averaging 0.24 g/t over 80 meters with gold grades ranging from 0.01 g/t up to 6.21 g/t.
Reykjavik – TheNewswire – November 23, 2020 -St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to disclose the results of the reverse circulation research hole TRC 20-01 authorised prior to the acquisition of Melmis EHF earlier this fall.
The 124m hole intersected a broad zone of low grade disseminated mineralization near surface. At depth of 41.5m the team intersected and confirmed with preliminary assays the existence of a thick interval that contained gold mineralization averaging 0.24 g/t over 80 meters with gold grades ranging from 0.01 g/t up to 6.21 g/t.
Within that zone a section of 9.9 meters averaged 0.7 g/t gold starting at 55 meters depth and included 2.1 meters of 1.67 g/t gold. A separate zone assayed 6.21 g/t over 0.3 meters at a depth of 98 meters.
The company is in the process of renting new facilities that will allow a streamlined sampling process. As soon as the installation is ready, all samples on 30cm intervals will be relogged and certain samples will be reanalyzed for gold and trace elements by independent laboratories in Dublin Ireland. Duplicate samples are a necessary protocol when gold values exceed one g/t gold in a known low sulfidation vein system with historic high-grade gold values. Trace element geochemistry may further assist in vectoring in on the better parts of the system. The company expects to conduct the next hole at an angle of 85? from the same location to confirm its hypothesis.
This initial hole was drilled between two previously known mineralized and drilled areas of the project. The purpose of the hole was to provide continuity of alteration and mineralization between these two zones. Additional holes are planned along strike and at depth as a follow-up of hole TRC 20-01. This RC hole was drilled at -45 degrees and azimuth 110?. Following the acquisition of Melmis, St-Georges is less restricted on the location and depth of future drilling.
Based on geological logging to date, mineralization is disseminated over a thicker interval and not limited to quartz veining which is the preferential host for high-grade gold elsewhere in the Thor system.
Based on the results from this recent hole, St-Georges geological team believes that we are looking at a strong hydrothermal system that is mineralized with gold over apparent broad widths currently more than 700 meters of strike.
Iceland Resources, St-Georges’ Iceland wholly owned subsidiary’s CEO, Thordis Bjork Sigurbjornsdottir, commented: “(…) We are very pleased with the preliminary results from our maiden hole within the project, we feel it supports our theory in regards of the geological settings and that the system could potentially prove to be expanded on a much larger surface than what was previously expected. These results are encouraging on our path to our first maiden resource. The team is evaluating next steps and is anticipating additional positive surprises with further work(…)”.
Quality Control
Samples were collected in buckets then sealed and transported directly from the site to Iceland Resources’ secured warehouse facilities in Reykjavik by the SX geological team. The geological team sampled each bucket. The samples along with duplicate and Q/C blank samples were added to 2 shipments that traveled by plane to ALS Global Laboratories (ISO/IEC 17025 accredited) in Loughrea, Ireland. All samples were tested using four acid trace analysis (ME-ICP61).
About Thor Gold
The Thormodsdalur Gold Project is located about 20km east of the city center of Reykjavik and south-east of the Lake Hafravatn. The project was discovered in 1908. The property produced a gold concentrate from 1911 to 1925, which shipped to Germany for processing. Over 300 meters of tunnels explored and mined one or more quartz veins and wall rock below open cuts at the surface.
Studies between 1996 and 2013 identified the project mineralization as a low sulfidation system hosted by basic to intermediate flows of Pliocene to Miocene age. The host contains banded chalcedony and ginguro within a fault zone up to 5 meters in width. To date, the identified gold trend has a known strike length of 700 meters determined by drill intercepts. Petrographic analysis of the vein material identified gold occurring in its free form and as part of an assemblage with pyrite and chalcopyrite. Petrographic and XRD studies show an evolution of the vein system from the zeolite assemblage to quartz-adularia and lastly, to minor calcite.
Thirty-two holes have been drilled within the license area, for a total of 2439 meters excluding the 124 meters reverse circulation hole drilled by St-Georges in the Fall of 2020.Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These values were obtained from selected random intervals and cannot be construed to be representative of any particular thickness or overall length.) Historically, the best intercepts from the diamond drilling are 33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).
Gary McLearn, A professional geoscientist (Ontario APGO #2900) and an Independent Qualified Person as defined by National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
The technical information in this release has been reviewed and approved by Mr. Herb Duerr, P. Geo. St-Georges’ director, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur T. Vilhjalmsson”
VILHJALMUR THOR VILHJALMSSON President & CEO
About St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Quebec’s North Shore.
Posted by AGORACOM-JC
at 5:04 PM on Wednesday, November 18th, 2020
ThreeD Capital (IDK:CSE / IDKFF:OTCQB) prides itself on discovering great companies before everyone else … and it casts a wide net to find the best of the best ranging from precious metals companies to completely disruptive companies. Moreover, IDK isn’t afraid to invest and be patient in both public and private companies.
As such, it’s like and ETF for ground floor investments that small cap investors would either be unable to find (private) or unable to participate in (early round accredited investors)
It is able to do all this and do it well under the leadership of one of the greatest investors in Canadian history – Sheldon Inwentash, the Founder, Chairman and CEO of IDK. Inwentash’s track record of success speaks for itself, including successful exits in the hundreds of millions and even billions in previous years. His last company commanded a market cap north of $1 Billion and now he’s looking to create another success out of IDK.
Will he do it? He’s off to a good start so far by quietly making investments over the past couple of years that are now starting to pay off. In this interview Inwentash discusses:
His investment philosophy
A couple of his recent investments in Peak Fintech (PKK:CSE) and Loop Insights (MTRX:TSXV)
Why he’s investing heavily in gold juniors
Why he’s investing heavily in blockchain companies + their tokens
Best of all, after one hell of a ride for the financial markets in 2020, Inwentash talks about why 2021 “is the year to be all in”
Watch this great interview … because when a legendary financier speaks, every small cap investor should be listening.
Posted by AGORACOM
at 9:05 AM on Thursday, November 12th, 2020
SPONSOR: St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. St. George controls all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region
St-Georges Eco-Mining holds all exploration licenses in nation
CEO says the ‘green gold’ should command a premium price
Exploration in Tröllaskagi (Troll’s peninsula) North Iceland. Source: Iceland Resources
Canadian explorer St-Georges Eco-Mining Corp. wants to revive Iceland’s long-dormant gold mining industry by drawing on the Nordic nation’s abundance of renewable energy.
The Montreal-based miner finished drilling a 124-meter-deep (407-foot-deep) hole in Thormodsdalur, outside Reykjavik, in September and may publish the results this month. Previous drilling cores indicated gold quantities of as much as 415 grams per ton there, though more research is needed to determine the size of the deposit, Chief Executive Officer Vilhjalmur Thor Vilhjalmsson said in an interview.
If the veins are big enough, St-Georges plans to mine with robots, while the equipment and processing primarily will use electricity made from geothermal and hydro power by Landsvirkjun, the state-owned power company. The moves come after gold hit a record in August and is up more than 20% this year.
“Our emphasis will be on making the most eco-friendly and socially responsible gold in the world,” Vilhjalmsson said. “We foresee that our gold would be sold with a premium.”
In an environment as pristine as Iceland’s, the potential for gold mines to pop up may trigger alarms among the island’s 364,000 residents, given the industry’s reputation for polluting and scarring the landscape. But Vilhjalmsson says his operation will be different.
“Our ideology is about making minimal disturbances to the ground,” he said. “In Thormodsdalur, you will hardly see it when mining activity starts.”
St-Georges will use all the material extracted from the ground during the mining process, Vilhjalmsson said. After the minerals are separated, the remainder would be used in building material and concrete.
Experimental Mining
The Canadian miner holds all exploration licenses for gold in Iceland after acquiring local corporation Melmi Ehf last month. Melmi owned the majority interest in the Thor Gold Project in Thormodsdalur, about 20 kilometers (12 miles) east of the capital.
Vilhjalmsson, 45, previously worked on mining projects in Greenland and Africa. He is optimistic that experimental mining in Iceland will start this decade, and he expects to spend almost 500 million Icelandic kronur ($3.6 million) on research during the next few years.
“We anticipate that by using the green energy Iceland offers, our production will be more cost-efficient than if we’d use fossil fuels,” he said. “We are in the process of doing a proof of concept for our model, and we hope it will be applicable to mining sites around the world.”
The company holds exploration permits for gold, silver and copper in three locations in Iceland and has applied for 11 more licenses. The Thormodsdalur endeavor will be funded through debt and private placement on the Canadian Securities Exchange.
The explorer’s shares have declined 25% so far this year, for a market value of C$10.4 million ($8 million).
‘Green Gold’
Grant Sporre, a senior analyst for metals and mining at Bloomberg Intelligence, said he is skeptical about the market opportunity since there’s no universal standard for what qualifies as “green gold.”
“It will be a while before any investors see a return on the Icelandic gold explorations component of their business,” he said.
Gold digging in Iceland started at the beginning of the 20th century. The Thormodsdalur site was discovered in 1905, and four years later the poet and entrepreneur Einar Benediktsson formed a mining company with investors from Norway, Britain and Germany.
The property produced a gold concentrate from 1911 to 1925 that was shipped to Germany for processing, but then the market faded away.
Interested renewed in 1989 after two Icelandic geologists, including Hjalti Franzson, studied the presence of gold in geothermal systems in New Zealand and Japan. That triggered local research funded by the Icelandic government. “There is enough gold in the ground here,” said Thorvaldur Thordarson, a professor in volcanology and petrology at the University of Iceland. “In Iceland, it’s perhaps not as concentrated in one place.
Posted by AGORACOM
at 10:18 AM on Friday, November 6th, 2020
Montreal, Quebec–(Newsfile Corp. – November 6, 2020) – Beauce Gold Fields (TSXV: BGF) (Champs D’Or en Beauce)(“BGF”), is pleased to announce that the Company has completed nine more trenches east of St-Gustave road around the site that was once the starting point of the 1960s gold dredging operation on the Company’s Beauce gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of Quebec.
Patrick Levasseur, President and CEO of Beauce Gold Fields said, “The St-Gustave zone was the site of the largest placer gold dredging operation in eastern North America.” Mr. Levasseur further states, “We are the first exploration company to sample this historic gold anomaly.” Figure 1. Location of St-Gustave Trenches and path of Yuba Dredge
Figure 2. Aerial View of Lima Electric Dragline and Yuba Dredge 1962
Active from 1958 to 1964, the Beauce Placer Company was the only major placer gold mining operation in eastern North America. To mine the deposit, the Company purchased a floating Yuba dredging plant. The four storey high, 800-ton dredge was dismantled in Idaho and transported in 25 train cars to the Beauce region. It was then assembled and floated in a dredge pit south of the Gilbert river just East of Rang St-Gustave road, around the site where BGF is currently trenching. A Lima Electric Dragline was used to strip the glacial till overburden. The Yuba dredged southward the placer gold channel from the pit to the middle of the Rang Chaussegros property.
Reference to the historical placer gold deposit does not comply with the CIM reporting standards National Instrument 43-101 for mineral resources or reserves and should not be relied upon. While the Company considers historical estimates and the calculated Gold Exploration Target* for the entire historical placer channel to be relevant to investors as it may indicate the presence of mineralization, the Company is not treating these historical estimates as a current mineral resource.
SHARES FOR DEBTS
In accordance with the agreement between BGF and Agora Internet Relations Corp., entered into on August 1, 2020 for the term ending July 31, 2021, BGF board has approved the issuance of 86,923 common shares at a deemed price of $0.13 per share to pay $11,300 for services rendered during the period ending October 31, 2020. Each share issued pursuant to the debt settlement will have a mandatory four (4) month and one (1) day holding period from the date of closing.
About Beauce Gold Fields
Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec. The Company’s flagship property is the St-Simon-les-Mines Gold project site of Canada’s first gold rush that pre-dates the Yukon Klondike. The Beauce region hosted some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s. It produced the largest gold nuggets in Canadian mining history (50oz to 71oz).
Comprising 152 contiguous claims and seven real estate lots, the project area contains a six kilometer long placer channel consisting of an unconsolidated gold-bearing auriferous units of a lower saprolite and an upper brown diamictite. The Company has calculated a Gold Exploration Target for the entire historical placer channel ranges between 61,000 ounces (2,200,000 m3 @ 0.87g Au/m3) and 366,000 ounces* (2,200,000 m3 @ 5.22 g Au/m3).
*Source: Beauce July 4th 2018[43-101 Report
The Company has identified a major Fault Line that coincides with an interpreted fault structure across the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical placer gold channel.
Posted by AGORACOM
at 10:10 AM on Monday, October 26th, 2020
Completed the acquisition of Melmi EHF, the Icelandic corporation that owned the majority interest in the Thor Gold Project
Acquisition allows St-Georges to control its destiny and plan its exploration campaigns with no interference
Reykjavik – TheNewswire – October 26, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN)(OTC:SXOOF) (FSE:85G1) is pleased to report that it has completed the acquisition of Melmi EHF, the Icelandic corporation that owned the majority interest in the Thor Gold Project and the remainder or the Icelandic mineral licenses not already controlled by St-Georges.
This transformative acquisition gives total control over the mineral licenses of the Republic of Iceland to St-Georges, making it the only junior exploration company to own all the mineral rights of a western country. This acquisition allows St-Georges to control its destiny and plan its exploration campaigns with no interference. It also gives the Company’s geological team access to extensive libraries of geological data, a large number of historical mineral samples and a well-maintained and secured national core shack that will be useable for future development. Furthermore, all the diamond drill cores from the Thor Gold project are now in the Company’s ownership and possession. The Company expects to be able to resample these cores in the process of elaborating its maiden NI 43-101 Gold-Silver and Copper resource estimate on the Thor Gold Project.
The Melmi EHF Acquisition
As previously disclosed in a press release on July 2, the Corporation will pay up to CA$775,000 in consideration of all the Melmi EHF shares as follows:
(i)pay $65,000 upon the execution of the definitive share purchase agreement (the “Definitive Agreement”)
(ii)pay an additional $60,000 on the earlier of: (a) 90 days of execution of the Definitive Agreement; and (b) the start of drilling on the Thor Gold Project;
(iii)issue $400,000 of non-transferable debentures of the Corporation bearing a 6% annual interest, maturing 3 years from issuance (the “Maturity Date”), of $100,000 will be convertible into common shares in the capital of SX (the “SX Shares”) at a deemed price of $0.10 per SX Shares, $150,000 at a deemed price of $0.15 per SX Shares, and $150,000 at a deemed price of $0.20 per SX Shares; and
(iv) as additional consideration, subject to and upon all the Licences Application having been granted, issue $250,000 non-transferable debentures of SX bearing a 6% annual interest, maturing 3 years from issuance, and convertible into SX Shares at a deemed price of $0.20 per SX Shares.
Iceland Operational Update
In September, the Corporation drilled a reversed circulation (RC) drill hole for a total length of 124 meters.
In October, reconnaissance and follow-up fieldwork was conducted in Vopnafjordur (Vopna) and Trollaskagi (Trolla) projects. Mineralization bearing outcrops were identified and sampled and brought to St-Georges’ secure facilities in Reykjavik for petrographic analysis. Some of the
se samples were prepared to be sent for assays to ALS Laboratories in Dublin, Ireland. Management expects that the results of these essays will become available later this year, and the Company expects to report on it as soon as the information becomes available.
Picture 1, Outcrop on Trolla Gold Project
Picture 2. Outcrop on Trolla Gold Project
Picture 3. Close up of a Quartz Vein from an Outcrop on Trolla
Picture 4 & 5: Quartz Vein from Trolla Outcrop (Picture 3) Under Magnifying glass (10X)
Picture 5. Magnified Quartz vein from Trolla Outcrop gold is associated with pyrite in Iceland
Picture 6. Outcrop at Trolla Gold Project
Picture 7. Water Stream over Outcrop at Vopna Gold.
About Iceland
Iceland climate, location, access and infrastructure (Histed,R,2010)
Located in the North Atlantic, approximately midway between Greenland and Great Britain, the warm North Atlantic Current ensures that the climate in Iceland, described as subpolar, oceanic, has generally higher temperatures than locations of similar latitude throughout the world. Regions or places that have similar climate are Tierra del Fuego, the Aleutian Islands and Alaskan Peninsula. Although Iceland lies close to the Arctic, its coasts remain ice-free year-round.
As can be expected, the southern coast is generally warmer, wetter and windier than the northern coast. The lower-lying, inland areas in the north are the most arid, although snowfall in the north during the winter months is greater than in the south.
Historically, recorded temperature extremes for the country are 30.5 C and -38.0C. The high in Reykjavik was 26.2C in 2008, and the low there was -24.5C in 1918. Although the Icelandic climate can be harsh, the GI-Melmi JV completed a drilling program at Thormodsdalur (Thor Gold Project) from November 2005 through May 2006 without undue difficulty. In the north, the increased snowfall would make an effort such as this more difficult. Reconnaissance is to be limited to the summer months.
Iceland’s infrastructure is well developed and modern. Road construction was begun around the start of the 20th century and peaked during the 1980’s. The roads are well constructed and maintained asphalt, although some gravel roads are still found. The current road system connects most of the larger towns and villages and is mostly confined to the coastal areas. Currently, there are a total of 12,691 kilometers of roads in Iceland that includes 3,262 kilometers of paved surface. Inland road access diminishes to dirt roads to no roads making access to some areas difficult, requiring foot travel or helicopter support. There are no railroads in Iceland.
Geological Setting
Iceland occurs at the junction of two large physical structures; the Mid Atlantic Ridge and the Greenland-Iceland-Faeroes Ridge (Figure 9). At this intersection, the mantle is hotter and less dense than the surrounding mantle. The mantle material rises as a result of heat and chemical-related density differences resulting in a dome in the crust above. This hotspot is causing a higher rate of extrusive volcanism at this point on the Mid Atlantic Ridge, which has, in turn, caused the region to be built up to a level more than 3 kilometers above the surrounding seafloor and covers an area of more than 350,000 km2. This is known as the Iceland Basalt Plateau. The portion of the plateau above sea level is now the country of Iceland (Martin, et al., 2007).
Tectonic Setting
In the Mid Atlantic Rift environment, the central portions of Iceland have moved outwards, away from the zones of active rifting and crustal development such that oldest rocks occur towards the margins and youngest in the center. Due to the migration of the hotspot to the south-east with time, an asymmetry has been imparted to the shape of the island. Currently, the hotspot lies under the south-eastern quadrant of the island (Corbett, 2004). This area now denotes the zone of active rifting and volcanism. Figure 10 shows the geology of Iceland defined by tectonic zones that coincide with the ages of the rocks.
Principal Tectonic Zones
The significant rift systems that have focused volcanism through time are noted below.
– The Snaefellsnes-Skagi Rift Zone in western Iceland was active in the 16-6.5 m.y. period. – The Reykjanes-Langjokull Rift Zone in central western Iceland resulted in the development of the Reykjanes Peninsula from about 6 my. – The North Volcanic Rift Zone became active from 3-4 my and extends to the present time. – An Eastern Volcanic Rift Zone is developing at this time.
Significant quantities of felsic intrusive and extrusive rocks occur in the dominantly basaltic sequence, and the felsic rocks locally display gold-anomalous hydrothermal alteration (Corbett, 2004).
Structurally, NE fractures reflect the spreading centre direction and are, therefore, some of the most numerous and laterally extensive fracture patterns, commonly evident as normal faults that may be exploited by dykes. NS and ENE fractures are developed as conjugate fractures during the NW-SE extension.
