Good morning investors,
First off this morning, I wanted to highlight some interesting insider moves that landed in the Insiders tab in CEO Chat. The day’s SEDI insider filings flow in there every night, sorted by company, and it’s usually worth a look. It certainly was last night.
Former Barrick Gold CEO Jamie Sokalsky was buying shares of Probe Metals (PRB-V) in the public market, picking up 32,000 shares at a price of 37 cents yesterday. Sokalsky is chairman of the board and Probe Metals is the spinoff from Probe Mines, which was acquired by Goldcorp for $526 million earlier this year.
At 37 cents with 35 million shares outstanding, Probe Metals has a market cap of about $13 million. But here’s the kicker: its cash position is about $19 million. Sokalsky obviously sees value.
TerraX Minerals (TXR-V) has been getting some nice high-grade gold hits at its Yellowknife gold project, and CFO Stuart Rogers has been adding to his stake in the public market, buying 100,000 shares at 25 cents.
Finally, Pure Gold Mining (PGM-V) president and CEO Darin Labrenz filed a recent purchase of 110,000 Pure Gold shares at 10 cents. Pure Gold shares have been hammered – down 67% YTD – allowing Labrenz to pick up some pre-Christmas bargains.
There are probably other interesting insider trades that I missed – go have a look, and make it a regular stop. You’ll be glad you did.
Klondex Mines (KDX-T)
High-grade Nevada producer Klondex Mines reported some nice surface and underground intercepts from infill and exlporation drilling at its Fire Creek and Midas operations. The stock has been a standout, with a 1-year return above 50%.
Drilling highlights at Fire Creek include 1,233.9 g/t over 0.9 m, 104.7 g/t over 1.6 m and 44.3 g/t over 2.1 m.
At Midas, intercepts included 59.4 g/t over 1.4 m, 7.6 g/t over 7.2 m and 21.0 g/t over 1.5 m.
Stated Brian Morris, Vice-President Exploration: “I am very pleased with the excellent results from our exploration and infill drilling programs at both projects. These results are significant as they indicate additional mineralization at our properties. This data was not included in our mineral resource and reserve updates released earlier in the year. The underground drilling results at Fire Creek continue to extend known veins, while also discovering new mineralized structures to the West and North of the main veins.”
Columbus Gold (CGT-V)
French Guiana gold developer Columbus Gold released drill hits from the first 35 infill drill holes at its Montagne d’Or gold deposit at Paul Isnard. Earlier this week Columbus announced that the French government issued an operating permit for a cyanide gold plant.
Highlights included 40 metres of 1.95 g/t Au, 21 metres of 2.47 g/t and 12 metres of 4.68 g/t.
Montagne d’Or hosts 3.9 million ounces Indicated and 1.1 million ounces Inferred and Nord Gold is earning a 50.01% interest in the project by funding all expenditures including a Feasibility Study, expected by the end of next year.
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