SAN FRANCISCO, Dec. 18, 2017 (GLOBE NEWSWIRE) — Craig Stanley, an analyst with Eight Capital, took a look at the terms and potential of this mining company’s prospective transactions in Ontario.
Included in this article is: GFG Resources Inc. (TSX.V:GFG) (OTCQB:GFGSF)
A Dec. 12 Eight Capital research note indicated that GFG Resources Inc. (TSX.V:GFG) (OTCQB:GFGSF) entered into agreements to acquire three mining projects, for a total of 560 kilometers squared (560 km2) of mineral rights west of Timmins, Ontario, which analyst Craig Stanley described as “one of the most gold-endowed regions on the planet.” The assets are Rapier Gold’s Pen, Probe Metals Inc.’s West Porcupine and Osisko Mining’s Swayze.
Stanley concluded that “once the acquisitions close, GFG Resources will hold nearly 700 km2 of highly prospective, district-scale gold properties in tier one mining jurisdictions (Wyoming and Ontario).” He added that despite the projects being early stage, they are “positive for the company as they offer prospective, easily accessible ground that can be explored year-round.”
In terms of Swayze, the transaction cost is 1.1M shares, or an implied $600,000, Stanley wrote. No drilling has been done at Swayze, but induced polarization and magnetic surveys have. The project is 40 km east of Goldcorp Inc.’s Borden project.
Continue reading this article: Precious Metals Explorer to Acquire ‘District-Scale Gold Properties’
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