Rob_McEwen2

McEwen

Ginguro Exploration (GEG:TSXV) has a new insider. Robert McEwen, the self-proclaimed ‘Chief Owner’ of McEwen Mining (he owns 25% of the company) and co-founder of Goldcorp has invested $1 million into GEG via $0.10 unit ($0.15 ½ warrant) private placement through his Evanachan Limited. This brings his ownership up to 18.5% in the junior Canadian explorer.

Ginguro is optioning the Pardo project from Endurance Gold (EDG:TSXV).  They have already earned in 55% and can increase their ownership to 70% by paying $250,000 cash and spending $1 million within five years of the option being signed.  Pardo is located 65km Northeast of Sudbury, Ontario and is a paleo-placer gold project.

The chart is impressive, up over 700% since the middle of August! That is when the company announced they found extremely high-grade and near-surface gold mineralization in a paleo-placer system that is comparable to the Witwatersrand of South Africa (where roughly 40% of the gold ever mined from the Earth came from)!  It looks like McEwen is willing to bet $1 million that the Pardo project will host similar gold potential to its big South African brother.  GEG has other interests in the area, including the Four Corners project, which have yet to be substantiated but that hold similar geological potential as Pardo.

GEG Chart

GEG data by YCharts

Note McEwen's purchase price was 1/3rd of market, not including his half warrant at .15. Herein lies proof of a stealth bull market in select speculative junior gold stocks.

Here’s the insider report: Evanachan Limited Files Early Warning Report in Connection with Ginguro Exploration Private Placement