Probe Mines (PRB-V)
The insider purchase was small, but the names of the buyer and the company are familiar – Jamie Sokalsky because he used to run Barrick Gold (ABX-T) and Probe Metals because it’s a cash-rich spinout of Probe Mines, purchased by Goldcorp in one of the few M&A transactions of note in 2015 on the Canadian mining scene.
Sokalsky bought 19,500 shares at 37 cents. Probe, which has not picked up any project yet, is trading at a significant discount to cash. The junior had $18.9 million in the treasury as of Sept. 30 and trades at a market cap of about $13 million.
Probe Mines and its projects in the Porcupine gold district of Ontario were purchased by Goldcorp for $526 million in an all-share deal about a year ago.
Cordoba Minerals (CDB-V)
Cordoba Minerals CEO Mario Stifano filed the public-market purchase of 5,000 Cordoba shares at 16 cents on Wednesday. He owns or has direction over about 700,000 shares, 1.05% of the total.
Colombia-focused Cordoba has a 3,000-metre drill program focusing on its recently acquired Alacran copper-gold property at the San Matias project. Cordoba’s major shareholder is Robert Friedland, through Ivanhoe.
Victoria Gold (VIT-V)
A Sun Valley Gold analyst visited Victoria Gold’s Eagle Gold project in Yukon in August, and evidently he liked what he saw. The Idaho-based hedge fund continues to be a heavy buyer of Victoria Gold (VIT-V) shares, purchasing a total of 547,500 shares this week at 15.5 cents. SEDI:VIT
While Kaminak Gold grabbed the Yukon gold spotlight on Wednesday with a positive FS, Eagle Gold is fully permitted and shovel-ready. The deposit is a heap-leach gold project with an Indicated resource, including reserves, of 4.8M oz (0.68 g/t) and an Inferred resource of 1.5M oz (0.60 g/t). Victoria Gold also has a cooperation and benefits agreement with the local First Nation.
The company has a market capitalization of about $56 million, and Sun Valley Gold controls about 15% of outstanding shares, having been a steady buyer for the past year.
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This is not investment advice and all investors should do their own due diligence. Cordoba Minerals is a CEO.CA client.