|Stock of the week:
Firesteel Resources: on the best way to a short-time gold production start in Finland!
Firesteel Resources is a junior exploration company focused on the acquisition and exploration of prospective precious metal properties in Canada, the United States and in safe jurisdictions around the world.
The Company's objective is to enhance shareholder value by identifying and securing early-stage exploration opportunities and developing them to more advanced stages.
In pursuit of this goal, the Company relies on in-house and contracted resources and research to generate exploration targets. Firesteel's strategy is to minimize exploration risk by optioning properties of merit and in setting up joint venture operations on proven properties.
Firesteel currently has two primary properties: First, the the Laiva project in Finland. Firesteel has signed a heads of agreement with Nordic Mines AB to acquire 100% of the past producing Laiva gold mine near Raahe, Finland. The second one is the Star Project, which is under a joint venture agreement with Prosper Gold Corp.
The Company's management and board of directors have extensive experience in exploration, mining operations, business and corporate finance.
Video interview: Firesteel Resources
Commodity-TV: FTR company presentation
Gold: bottom-building done, but what’s next? – Guest comment from Florian Grummes of Midas Touch Consult
As assumed in December 2017, the whole precious metals sector recovered during the last six weeks. Especially the gold price, which dashed with a barnstorming rally from US$1,236 to US$1,366, which was an absolute high since August, the 1st
2016! On its way there, it also easily closed the open gap at US$1,345 from September 2017. On the contrary, silver drags behind, while mining stocks finally played their cutting edge off. The GDX, for example, was able to draw 18% in the meantime.
Now, the gold price seems to be heavily overbought on a daily as well as on a weekly basis, while the futures market already sends sell signals, the atmosphere is partly going to become euphoric and the seasonal window is slowly going to close itself.
As the Euro misses only one or two cents to the massive resistance zone at US$1.26 – 1.27 and the Chinese New Year’s Eve starts only in around three weeks, a continuation of the rally to a level of US$1,400 cannot be precluded. The risk-reward ratio is lousy at the current price level and the risk of a clear backlash towards US$1,300 rises daily.
When it comes to a revised correction, there should be a good buy opportunity between US$1,280 and 1,310, as the long-lasting bottom building is far progressed. A possible, sustainable breakout above US$1,365 – 1,400 could activate course aims at US$1,525 for this year and at US$1,650 in the longer term.
Additional information can be directly found on the Midas Touch website: Midas Touch
First Cobalt starts drill campaign
Maple Gold Mines starts drill campaign with 5 to 6 diamond rigs!
Osisko Gold Royalties announces record earnings
First Cobalt recently announced, that it has commenced drilling at the Bellellen mine in the Cobalt Camp, Ontario. In September 2017, grab samples from historic muckpiles adjacent to the Bellellen mine shafts were collected and analyzed for their metal content to validate historic observations. A significant number of samples returned high grade cobalt mineralization, including up to 0.78% Co as disseminated cobaltite with pyrite in altered mafic volcanic rock.
Investors can await exciting times with hopefully great drill results.
News: First Cobalt Begins Drilling at Bellellen Mine
US Gold Corp.: new course aim, financing, dividend payout
Osisko Gold Royalties recently announced its preliminary 2017 gold equivalent ounces. The Company’s portfolio of royalties, streams and other interests delivered a record number of GEOs during the fourth quarter and for 2017. The Company received 58,933 GEOs in 2017, an increase of 54% compared to the 2016 results. The GEOs earned in the fourth quarter totaled 20,990 ounces, establishing a new quarterly record and 26% higher than the third quarter of 2017.
The increase is attributable to the additional producing assets acquired as part of the transformative $1.125 billion Orion transaction, which closed on July 31, 2017, and the Gibraltar silver streaming agreement completed in February 2017.
News: Osisko Announces Record 2017 Gold Equivalent Ounces
There were a couple of good news from US Gold Corp. within the last few days.
Roth Capital Partners published a new research report with a 12-month course aim of US$3.00. The main reason for that was the new PEA on Copper King and the recent financing of US$5 million, which both should bring the company heavily forward.
US Gold Corp. also announced that it has closed its previously announced CA$5.0 million sale of its Series E convertible preferred stock in a non-brokered registered direct offering. Concurrently, the Company also issued common stock purchase warrants in a private placement. The net proceeds, after estimated expenses of the offering payable by the Company, are approximately US$4.9 million. The Company expects to use the net proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures and other corporate expenses.
Furthermore, the company announced, that it has set a distribution date of January 19, 2018 for the special dividend from the sale of the Dataram legacy memory business. Shareholders of record as of May 8, 2017 were entitled to receive a special dividend equal to US$0.208633136944 for each share held on the record date.
News 1: Roth Capital Partners: U.S. Gold Corp. Buy $3.00
News 2: U.S. Gold Corp. Announces Closing of Registered Direct Offering for Gross Proceeds of $5.0 Million
News 3: U.S. Gold Corp. Announces Dataram Sale Dividend Distribution Date
Company presentation (video): U.S. Gold: Advancing Gold & Copper Project In US Towards Development - Company Presentation
Latest Interview: What´s next on U.S. Gold?
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