Generative Exploration: GZZ, LRA, RRI, SOI etc

[drbubb]

Otis Gold / OOO.v ... update :

[drbubb]

PTM.t / Platinum Group Metals Ltd. (TOR) ... all-data : 5yr : 3yr : 12mo / 10d : Last: C$0.145

$0.145 x XX Mn = C$39mn

Forum : bullboard :

Platinum Group Metals Ltd. Receives Initial US$58M From Maseve Mine Sale to Pay Down Debt

https://globenewswire.com/news-release/2018/04/06/1466184/0/en/Platinum-Group-Metals-Ltd-Receives-Initial-US-58M-From-Maseve-Mine-Sale-to-Pay-Down-Debt.html

As previously reported, and as agreed with Sprott and LMM, the Company must raise US$20 million in subordinated debt and/or equity within 30 days of the Sprott Facility being repaid. 
Read more at http://www.stockhouse.com/companies/bullboard#M5o0g8qw8rK2BfvC.99

[drbubb]

RZZ adding to its Malartic-area Royalties

Abitibi Royalties Acquires Additional Royalties East & South of the Canadian Malartic Mine

VAL-D’OR, Québec, July 09, 2018 (GLOBE NEWSWIRE) -- AbitibiRoyalties Inc. (TSX-V:RZZ) (OTC-Nasdaq Intl:ATBYF) (“Abitibi Royalties” or the “Company”) announces that it has entered into an agreement with an arm’s length, third party seller, in order to acquire a 1.5% net smelter royalty (“NSR”) located east and south of the Canadian Malartic Mine in Québec (Fig. 1, 2 & 3),on an area known as the Midway Project. Midway is owned and operated by the Canadian Malartic Mine, a partnership between Agnico Eagle Mines (“Agnico Eagle”) and Yamana Gold (“Yamana”), which acquired the project in 2016. The purchase price paid by the Company for the NSR royalty totals US$575,000 (CDN$752,000), which was paid in cash and from treasury.

The NSR covers Shaft 1 of the formerly producing Malartic Goldfields Mine, which operated from 1939 to 1965, to a depth of approximately 800 metres below surface (Fig. 1). The Malartic Goldfields Mine produced approximately 1.7 million ounces of gold (A breakdown of the gold production covered by the Company’s 1.5% NSR is unknown. Please see the Technical Report link below for an overview of Malartic Goldfields historical production). A decline ramp into the near surface zones, believed to be covered by the Company’s NSR, was most recently advanced up until 2010.

> http://crweworld.com/article/news-provided-by-globenewswire/728961/abitibi-royalties-acquires-additional-royalties-east-south-of-the-canadian-malartic-mine

/ 2 /

Abitibi Royalties Continues to Expand Royalty Holdings Around Key Mines & Discoveries in Abitibi Region

VAL-D’OR, Québec, July 11, 2018 (GLOBE NEWSWIRE) -- Abitibi Royalties Inc. (TSX-V:RZZ) (OTC-Nasdaq Intl:ATBYF) (“Abitibi Royalties” or the “Company”) announces that it has entered into an agreement with an arm’s length, third party seller, in order to acquire various 1.5% net smelter royalties (“NSR”) on projects owned by Agnico Eagle Mines Limited (“Agnico Eagle”) throughout the Abitibi region in Québec (Fig. 1, 2 & 3). These projects include 1) Callahan (6.5 km northeast and northwest of the Canadian Malartic Mine and Goldex Mine and 1.5 km north of the Wesdome’s Kiena Deep discovery), 2) Cadillac (part of the LaRonde Mine), 3) Thompson River (part of the Goldex Mine) and 4) Malartic Break (6 km northwest of the Canadian Malartic Mine). The purchase price paid by the Company for the NSR royalties totals US$575,000 (CDN$755,000), which was paid in cash and from treasury.

The Callahan Project is believed to be the most advanced of the four projects, which includes a vertical exploration shaft to a depth of approximately 230 metres that was constructed by Falconbridge Ltd. in 1980 and a 1.5 kilometre drift. In 2008, Northern Star Mining Corp. (“Northern Star”), the projects former owner, filed a NI 43-101 Technical Report that contained a historical resource estimate for the Callahan Project that can be downloaded here (page 4). The historical resource estimate is for informational purposes only, is not considered valid under NI 43-101 and should not be relied upon.  

A total of 1.0% of the NSR royalties can be repurchased by Agnico Eagle by paying US$1.0 million (CDN$1.3 million based on current exchange rates) to Abitibi Royalties.

Read more at http://www.stockhouse.com/news/press-releases/2018/07/11/abitibi-royalties-continues-to-expand-royalty-holdings-around-key-mines#FX2z40shQtetQtla.99

[drbubb]

RZZ / Abitbi near record highs (despite weak Gold prices)

RZZ (and GZZ too! which I own) are Massively outperforming GLD / Gold and GDXJ

RZZ - etc ... From Beg.2015 : with GZZ.v :

GZZ.v: C$0.29 +125%, AEM: $45.52 +65%, GDXJ: $32.53 +62%, GLD: $117.61 +0%, AUY: $2.91 -27%

RZZ-etc w/ GZZ.v ... from Beg. 2016 :

RZZ was up 6.3% (+C$0.62)  on Friday on relatively "high" volume: 29,256+ shares x $10.44 = C$305.2k

The ratio continues to slide, staying under a Downtrend : GZZ/RZZ: 0.29/10.44= 2.78%

[drbubb]

Golden Valley vs. Abitibi Royalties / GZZ owned 51% of RZZ in 2015 : d#1 : m#2 :

RZZ-etc w/ GZZ.v ... from Beg. 2016 :

[drbubb]

Golden Valley Mines: Gold Explorer Trading At Substantial Discount To Working Capital

Sep. 5, 2018  About: Golden Valley Mines Ltd. (GLVMF), Includes: ATBYF

Matt Geiger

Summary

Fully-diluted market cap is 40% below value of cash + marketable securities.

CEO Glenn Mullan has previously made two world-class discoveries.

Recent open-market buying from Osisko Gold Royalties.

Drill results expected from 3 different option partners by year-end.

Golden Valley Mines (OTCQB:GLVMF) (TSXV: GZZ) has been a partnership holding since April 2016 with an average cost basis of C$0.28. The company is a gold-focused prospect generator active primarily in Quebec and Ontario. CEO Glenn Mullan is the current president of the Prospectors & Developers Association of Canada (PDAC) and an esteemed prospector who originally staked what is now the world-class Canadian Malartic Mine. GZZ owns a 44.7% stake in Abitibi Royalties (OTC:ATBYF) which has been one of the top performing gold companies over the past half-decade. The company also has multiple active option deals as well as a sizable 100%-owned property portfolio. Despite these attributes, GZZ is valued at a substantial 40% discount to the value of its cash + marketable securities.

In this Featured Investment piece, I begin by providing an overview of the company - with a particular emphasis on Glenn Mullan’s background, the GZZ share structure, the company’s lean overhead, the insider ownership positioning, and an overview of the company’s assets.

We then dig deeper into Golden Valley’s 44.7% stake in Abitibi Royalties. Any investor looking to purchase GZZ must first get comfortable with the Abitibi story.

Next, we discuss how Golden Valley shares offer significant upside on a sum of the parts basis. The share price would have to rise 74% from current levels before the company reaches a positive enterprise value. The bonus is that the company also offers exploration upside that is harder to quantify but is very real.

We conclude with Golden Valley’s expected catalysts over the coming months, so readers can keep tabs on the company’s progress alongside me. Most significant is first production at the Malartic Mine's Jeffrey Zone, but upcoming drill results from Golden Valley's three option partners (Bonterra Resources (OTCQX:BONXF), Alexandria Minerals (OTCQB:ALXDF), and Battery Minerals Resources) shouldn't be overlooked.

[drbubb]

Golden Valley vs. Abitibi Royalties / GZZ owned 51% of RZZ in 2015 : d#1 : m#2 :

RZZ-etc w/ GZZ.v ... from Beg. 2016 :

Focus of RZZ's two Mining investments

AEM / Agnico Eagle & AUY / Yamana Gold ... update : flip :

==

[drbubb]

Ckesapeake Gold  looks  Undervalued

> LIST of : Undervalued stocks > https://www.stockcalc.com/blog/BrianD/2017/09/25/shaw-communications-sjr-atsx-and-storm-resources-srxtsx-are-undervalued/

CKG vs. GCM etc ... update : since May.2018 : 10d :

: since May.2018 : 10d :

==

Fully Valued, Under Valued and Less than Cash Value Stocks

I normally post these individually but today have them all together - 3 lists for some TSX research.

 

List of Fully Valued Stocks on the TSX includes Biosyent (RX:TSX) and Atacama Pacific Gold (ATM:TSX)

Full List here:  https://wp.me/p6Fvkg-NX

 

List of Under Valued Stocks on the TSX includes Westaim (WED:TSX) and Leucrotta Exploration (LXE:TSX)

Full List here:  https://wp.me/p6Fvkg-NM

 

Stocks trading at less than cash value on the TSX includes Automodular (AM.H:TSX) and King George Financial (KGF:TSX)

Full List here:  https://wp.me/p6Fvkg-Nu

Read more at http://www.stockhouse.com/companies/bullboard#g1p6w0cTipXyX2Yi.99

[drbubb]

ABITIBI ROYALTIES ANNOUNCES NORMAL COURSE ISSUER BID

Val-d'Or, Québec, September 26, 2018 – Abitibi Royalties Inc. (RZZ-TSX-V: "Abitibi Royalties" or the "Company") is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange ("TSX-V") to conduct the normal course issuer bid (the "2018 NCIB").  Under the 2018 NCIB, Abitibi Royalties may purchase for cancellation, from time to time at its discretion, up to 626,306 of its issued and outstanding common shares (representing 5% of Abitibi Royalties' issued and outstanding common shares as of September 25, 2018).  Purchases will be made on the open market through the facilities of the TSX-V, with TD Securities Inc. conducting the 2018 NCIB on behalf of Abitibi Royalties.

Abitibi Royalties is of the view that repurchase of its issued shares, to be returned to treasury for cancellation, is warranted as the trading price of the Company's shares, conservatively calculated, is below management's estimated after tax net present value.  Accordingly, the purchase for cancellation of shares by Abitibi Royalties during these times will benefit the remaining shareholders by increasing their proportionate ownership in the Company.

The 2018 NCIB will commence on October 6, 2018, and will terminate on October 5, 2019, or such earlier time as the 2018 NCIB is completed or at the option of Abitibi Royalties. Any shares acquired by Abitibi Royalties pursuant to the 2018 NCIB will be cancelled.

[drbubb]

OOO / Otis Gold ... update :

(added in edit - 1/8/19):  BOT some at $0.10 ... Chart: 10d :

An "optimistic" Valuation maybe?:

Valuation: PI estimates a NAV(8%) for Kilgore of ~US$52M or US$0.32/share, and US$30M or US$0.18/share for exploration credits adjusted for G&A + exploration burn (-US$11M (US$-0.07/share) which justifies a total NAV of ~US$71M or US$0.44/share (C$0.57) adjusted. On a NAV basis, OOO trades at ~0.32x Adj. NAV. To derive our target, we apply a 1x PNAV weighting to justify our C$0.60 target price.

ANALYST: Gary Sidhu, BSc., MBA (604) 718-7544 gsidhu@pifinancial.com

Read more at http://www.stockhouse.com/companies/bullboard#7k0F09V0Rv1mhybO.99

[drbubb]

The Abitibi (RZZ) Cluster

RZZ -etc:  fr. 2016 : 2017 : 2018 // At 9/2018, GZZ, held a 44.76% interest in RZZ. Rob McEwen held 11.1%

: 2017 :

: 2018 :

WAYS - to narrow the discount to NAV

Ratio: GZZ to-RZZ

RZZ Presentation : "Why are we buying back shares? I do believe we are trading below NAV."

Abitibi Royalties Inc. | Presentation Video | October 2018

https://www.youtube.com/watch?v=DPzm0fcxenE

Interview : Mr. Ball & Mr Mullan : Oct. 2018

==

[drbubb]

Canadian Malartic Royalties (the key asset of RZZ, but not the only one)

Information regarding the updated reserve and resource estimates for the areas where Abitibi Royalties holds an NSR interest was provided by Canadian Malartic by way of a "Surface Reserve and Resources Annual Reporting Letter to Abitibi Royalties". The following information was extracted from such letter. Proven and probable reserves have been calculated at a gold price of USD$1,200 per ounce.  Stated reserves are in addition to resources.

Reserve Estimate for Barnat (East) & Jeffrey (3% NSR)
Category                                                Area     Tons (Metric)     Gold Grade (g/t)     Contained Oz
Proven Reserve                                    BA+JF       378,449                1.04                        12,627
Probable Reserve                                BA+JF     4,054,393               0.89                      115,526
Total Proven & Probable Reserve     BA+JF     4,432,842               0.90                      128,153
*BA = Barnat, Jeffrey = JF

Inferred Resource Estimate for Odyssey, East Malartic, Barnat & Jeffrey (3% NSR)

Category	Area	Tons Metric)	Gold Grade (g/t)	Contained Oz
Inferred Resource	ODY-EM-BA-JF	32,779,651	2.2	2,313,925

*BA = Barnat, Jeffrey = JF, Odyssey = ODY, East Malartic = EM

Agnico Eagle announced in February that the inferred mineral resource for Odyssey only included a small contribution from the Jupiter Zone (the estimate also included the Odyssey North and South Zones), which is an internal zone that extends from the Odyssey North Zone (Fig. 2). Agnico Eagle states that drilling carried out to date suggests that the Internal Zones could increase mineral resources and enhance the economics of the project by adding higher-grade ounces that would require minimal additional infrastructure to access.  Additional drilling is required to fully understand the complex nature of these zones so that they might be integrated into the mineral resource model.  Please see Fig. 3 for the area of focus at East Malartic that the Company believes was the basis for the resource estimate relative to East Malartic's mineralized envelope.

> MORE: https://www.abitibiroyalties.com/news/2018/march19/

BACK of Envelope Calculations;

Malarctic Area--- : NSR: P&P.Oz : 12/17 : 06/18 : 12/18 :
Barnet-E, Jeffrey- : 3% : 0,128.K :
Ody.,E.Malar., B&J : 3% : 2,314.K :
---------> total : === : 2,442.K : $00.0M: $00.0M: $00.0M:
(developed into a Financial model, just below)

[drbubb]

Solving for the "Plug Figure" ... then, Replacing it w/100% > $13.00 Valuation for RZZ.v

FINANCIAL MODEL, for RZZ - suggests that RZZ is undervalued at under $10

Malarctic Area------- : NSR: P&P.Oz : Q4./'17 : Q2./18 : Q3./18 : Q4./'18 : use 100% & $1300
Barnet-E, Jeffrey----- : 3% : 0,128.K :
Ody.,E.Malar., B&J -- : 3% : 2,314.K :
---------> SubT: ========= : 2,442.K :
==================== : Gold Pr. : $1,309 : $1,255: $1,196 : $1,281 : $1,300 :
==================== : Gr.Value: $3.20B : $3.06B: $2.92B : $3.13B :
-------------------> Royalty------  : 3.00 %  : $96.0M: $91.8M: $87.6M: $93.8M: $93.8M :
-------------------> Guess Pct.  : 66.5%?  :  54.6% :  67.3% :  82.1% :  62.3% -> Plug Figure !
---------------------> Royalty.V.  : rising?  : $52.4M: $61.8M: $72.0M : $58.4M: $93.8M @ 100%
Share Investments:
Yamana -AUY, Price: ==== : ======= : $03.12 : $02.90 : $02.49 : $02.36 :
AUY shs outstanding === : ======= : 3350.M: 3350.M : 3350.M: 3350.M:
==================== : Mkt.Cap : $10.5M : $09.7M : $08.3M : $07.9M:
AgnicoE.-AEM, Price === : ======= :  $46.18 : $45.83  :  $34.20 : $40.40 :
AEM shs outstanding == : ======= : 379.0M : 379.0M : 379.0M : 379.0M:
==================== : Mkt.Cap : $17.5M : $17.4M : $13.0M : $15.3M:
==================== :Sh.MktCp $28.0M : $27.1M: $21.3M : $23.2M: $23.2M
==================== :US$.MkCp $80.4M : $88.9M: $93.3M : $81.6M: $117.M
==================== :USD.CAD- :  x1.257 :  x1.314 :  x1.291 :  x1.364 : x1.364:
==================== :CAD.MCp : 101.1M: 116.8M  : 120.5M: 111.3M: 159.6M:
==================== :C$-Cash- : $ 04.5M : $05.3M : $03.2M: $03.0E : $03.0E :
==================== :CAD.MCp.: 105.6M: 122.1M : 123.7M : 114.3M: $163.M:

Abitibi-RZZ, Price: ===== :======== : $ 09.26: $ 09.85:   $09.89 :  $ 9.14 : $13.00 :
RZZ shs outstanding == : ======== : 11.40M: 12.40M:  12.51M:  12.51M:
=================== : Mkt.Cap. $105.6M: 122.1M:  123.7M:  114.3M: $163.M:

Gold Estimated Production 3% NSR (2018-2020)
Year    Area*  Tons Mined  (g/t):Oz: M/mined Proc'd Recovered Stockp. Mx1300: /Qtr : Cum'l $ : x$1.300
2018-Q4 JF        907,662     0.70     20,304      12,123     10,826     8,181:  $26.4 M: 26.4 : $26.4M: C$34.3M
2019       JF     1,637,121     0.87     45,833      27,339     24,414   18,494:  $59.6 M: 14.9 : $86.0M: C$112.M
2020       BA       362,582     0.89     10,327        8,797       7,855      1,530:  $11.4 M: 26.4 : $97.4M: C$127.M
====

Solving for the "Plug Figure" in the above model shows...

A "plug" of 62.3% of the Expected future Royalty income yields the $9.14 year-end price for RZZ.
If you push the percentage up from 62.3% > 100%, then the expected market cap of RZZ
+ At 100% and $1300 Gold price -> $13.00 per share

RESULT: I bought more GZZ shares, as they own 44.8% of RZZ at a low price

[drbubb]

GZZ is following RZZ higher

(I added to my position recently, at 0.255)

GZZ.v/ Golden Valley vs. RZZ.v/ Abitibi Royalties... update: GZZ ($0.265) / RZZ ($10.05) = Ratio: 2.64%

GZZ ($0.265) / RZZ ($10.05) = Ratio: 2.64%

==

[drbubb]

RZZ-etc w/ GZZ.v ... from Beg. 2016 :

[drbubb]

Abitibi Royalties: Royalty Production Commences From Canadian Malartic Mine

VAL-D’OR, Québec, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Abitibi Royalties Inc. (RZZ-TSX-V, ATBYF-OTC-Nasdaq Intl: “Abitibi Royalties” or the “Company”) is pleased to announce that production commenced at the end of Q4-2018 in the area covered by the Company’s 3% net smelter royalty (“NSR”) at the Canadian Malartic Mine near Val-d’Or Québec (Fig. 1). Canadian Malartic is the largest gold mine in Canada and is operated by Agnico Eagle Mines Limited and Yamana Gold Inc. In 2018, the Company generated total cash flow(1) of approximately CDN$2.7 million with CDN$692,000 coming in Q4-2018, primarily from option premiums and a nominal initial contribution from royalties.  The Company expects to release an updated 3-year production schedule for its royalties at the Canadian Malartic Mine in late Q1-2019 or early Q2-2019.

 

 

[drbubb]

The odds are stacked against gold juniors like never before: Abitibi Royalties CEO

 

Valentina Ruiz Leotaud | Jul. 14, 2018, 10:46 AM |

 

Huge hurdles are stacked against gold juniors in the quest to become a mine, says Abitibi Royalties' CEO Ian Ball.

Ball, who spoke to MINING.com in March at PDAC in Toronto, was former President of McEwen Mining before moving onto Abitibi Royalties four years ago. During Ball's tenure as CEO, the company's stock has increased 3.1 times in value going from $3.27 per share to $10.44.

Ball sees a lot of headwinds in the industry. He does not see a significant gold price moves to the upside. Average gold grade is declining, which requires larger plants and more capital to move ore. Regulations are becoming more stringent. Productivity improvements are still lagging.

"As much talk as there has been about technology, we have not seen a game-changing technology since the 80s such as heap leach or autoclave," says Ball. Autoclave is pressurized ore processing to liberate more gold from ore.

"For now, to become successful in mining the odds are stacked against you like they never have been before."

Ball's company, Abitibi Royalties, is focusing its efforts on one of Canada’s largest gold mines, which is located 25 kilometres west of Val d’Or in Quebec’s Abitibi region.

"There have been well in excess 10-million-ounces-discoveries and they are making new discoveries every year, which is increasing the value of our royalty. You want to be in big mining camps and Malartic is one of the biggest in Canada," said Ball.

Abitibi’s royalty is a 3% net smelter return royalty on the eastern portion of the mine, which is owned and operated by Agnico Eagle (TSX, NYSE:AEM) and Yamana Gold (TSX:YRI) (NYSE:AUY).

The executive explained how, based on the returns of this major asset, he has switched the way investors are treated.

“When I joined Abitibi I did not have the financial means to buy 20 per cent of Abitibi but I was willing to take all of my salary and invest it back into the company on the open market each week.

"So for four years now, I’ve been taking all of my salary and investing it into the shares so I’m literally walking in the same footsteps as my shareholders. And two years ago, I went to the board and told them that I didn’t think we should be issuing any stock options and share units, people should be paid in cash so they can use that cash to go buy stocks in the market,” he said.

[drbubb]

Abitibi (RZZ.v) is on the Move! $10.68 +

GZZ.v up too, on rising volume :

GZZ.v and RZZ.v ... update :

If GZZ breaks through $0.30, it may quickly run up to $0.36

GZZ.v ... update :

GZZ vs RZZ.v/ Abitibi, AEM/ Agnico & AUY/ Yamana ... since 1/2014 : 1/2015 : 7/2015 ::

=

[drbubb]

Golden Valley Mines: Gold Explorer Trading At Substantial Discount To Working Capital

Golden Valley's three option partners

Bonterra Resources / BTR.v (OTCQX:BONXF) :

Alexandria Minerals / AZX.v (OTCQB:ALXDF), 

xx

and Battery Minerals Resources...

Summary

Fully-diluted market cap is 40% below value of cash + marketable securities.

CEO Glenn Mullan has previously made two world-class discoveries.

Recent open-market buying from Osisko Gold Royalties.

Drill results expected from 3 different option partners by year-end.

Golden Valley Mines (OTCQB:GLVMF) (TSXV: GZZ) has been a partnership holding since April 2016 with an average cost basis of C$0.28. The company is a gold-focused prospect generator active primarily in Quebec and Ontario. CEO Glenn Mullan is the current president of the Prospectors & Developers Association of Canada (PDAC) and an esteemed prospector who originally staked what is now the world-class Canadian Malartic Mine. GZZ owns a 44.7% stake in Abitibi Royalties (OTC:ATBYF) which has been one of the top performing gold companies over the past half-decade. The company also has multiple active option deals as well as a sizable 100%-owned property portfolio. Despite these attributes, GZZ is valued at a substantial 40% discount to the value of its cash + marketable securities.

In this Featured Investment piece, I begin by providing an overview of the company - with a particular emphasis on Glenn Mullan’s background, the GZZ share structure, the company’s lean overhead, the insider ownership positioning, and an overview of the company’s assets.

We then dig deeper into Golden Valley’s 44.7% stake in Abitibi Royalties. Any investor looking to purchase GZZ must first get comfortable with the Abitibi story.

Next, we discuss how Golden Valley shares offer significant upside on a sum of the parts basis. The share price would have to rise 74% from current levels before the company reaches a positive enterprise value. The bonus is that the company also offers exploration upside that is harder to quantify but is very real.

We conclude with Golden Valley’s expected catalysts over the coming months, so readers can keep tabs on the company’s progress alongside me. Most significant is first production at the Malartic Mine's Jeffrey Zone, but upcoming drill results from Golden Valley's three option partners (Bonterra Resources (OTCQX:BONXF), Alexandria Minerals (OTCQB:ALXDF), and Battery Minerals Resources) shouldn't be overlooked.

====

THIS was interesting:

"Recent open-market buying from Osisko Gold Royalties. "

May 8, 2018 - @JVandamme Osisko Gold Royalties $OR has been quietly buying a 7% stake in Golden Valley Mines $GZZ.

Osisko Group aiming for Abitibi ...

I wonder if the ADDED yesterday, since volume jumped to 200K shares

[drbubb]

Golden Valley acquires 4.16 M Val-d'Or Mining shares

2019-01-22 14:44 ET - News Release

Also News Release (C-VZZ) Val-d'Or Mining Corp

Mr. Glenn Mullan of Golden Valley reports

Golden Valley Mines Ltd. has acquired ownership of 4,166,667 common shares in the capital of Val-d'Or Mining Corp., which were issued by the issuer from its treasury at a deemed per share price of 10 cents for a total deemed value of $416,666.70 as partial consideration for a grant by Golden Valley of an option to the issuer to acquire mineral property interests in accordance with the terms of a mining option agreement between the issuer and Golden Valley, dated April 18, 2017, which increased Golden Valley's security holding percentage by approximately 7.7 per cent.

Immediately before the transaction that triggered the requirement to issue this release, Golden Valley owned 9,020,776 common shares of the issuer, representing approximately 24.8 per cent of the issuer's then-issued and outstanding common shares.

Immediately after the transaction that triggered the requirement to issue this release, Golden Valley owns 13,187,443 common shares of the issuer, representing approximately 32.5 per cent of the issuer's issued and outstanding common shares.

Golden Valley will evaluate the investment in the issuer and may increase or decrease the investment by future acquisitions or dispositions of securities of the issuer at its discretion, as circumstances warrant. As of the date of this release, and except as otherwise disclosed in this release, Golden Valley has no immediate future intention to acquire additional securities of the issuer or dispose of securities of the issuer that it owns.

In accordance with the terms of the mining option agreement between the issuer and Golden Valley, dated April 18, 2017, the issuer has agreed to issue to Golden Valley a further 12,500,001 common shares, issuable as to 25 per cent on or before each of Dec. 31, 2019, Dec. 31, 2020, and Dec. 31, 2021, should the issuer fulfill its obligations under the terms of the mining option agreement to maintain in force the option granted to it and to exercise the option.

[drbubb]

GZZ gets a bid : Last: $0.34 +0.04, +13.33%, vol, 105,500 > $36k

Catch up, & more! with RZZ / Abitibi : $11.38 +0.11, + 0.98%, vol,    4,440 > $50k

GZZ.v vs RZZ.v ... update :

x

Recent Bulletins

Date ET	Symbol	Ex	Price	Type	Headline
2019-01-29 09:54	C:GZZ		0.29	News Release	Val-d'Or fulfills first-year Golden option spending
2019-01-22 14:44	C:GZZ		0.265	News Release	Golden Valley acquires 4.16 M Val-d'Or Mining shares

[drbubb]

Watching RZZ to see if it will Blow-through Resistance ... chart: gzz-rzz :

Meantime...

GZZ.v = was 400,000 bid at 34 cents

posted February 11, 2019 02:36 pm  by  arh0070

Sure looks like something is cooking .The length of time the gzz has been trading at such a huge discount to net asset value has been extraordinary .  rate and reply

[drbubb]

Updating prices: a Rising asset backing for GZZ shares

Share : Last.Pr: change: Sh.OS : Mkt.Cap.: MCp.chg:
RZZ.v : $12.66 +$0.32 : 12.500M: $158.3M: +$4.00M
Holds-: ----------> ----------->  5.605M : $70.96M: +$1.79M
GZZ.v : $0.345 -0.005 : 133.91M : $46.20M: - $0.67M
R-val. : ----------> ----------->  ------------>  153.6 % : - 37.4% :

GZZ's holding in RZZ shares is now over 150% of its own Market Cap.

Ratio: RZZ/GZZ: $12.66 / 34.5 cents : 36.7x !.  100% backed near 24x

The TAIL (RZZ) still wags the Dog (GZZ)

posted February 04, 2019 02:23 pm  by  cigarbutts

 

GZZ has the control position over RZZ,  about 5.605M shares worth $63.89M at $11.40 Can per share. GZZ has 133.91m shares outstanding at $.32Can is $42.851M  Market Cap. Still the much

...read more

THE COMPLAINTS will Get Louder !

 

(Like THIS one):

We have sat here basically doing nothing for 3 years while WAITING for the CASH FLOWS of Malartic Royalty to finally start to pay off.

He will not discuss why he has RZZ buyback a small about of their  shares in the open market,  at a higher price than if he were to buy RZZ shares thru the proxy shares  GZZ,  even when he has a GZZ director Glenn Mullan sitting on the RZZ Board. 
Here is the simple math to justify why RZZ should use its cash to buy GZZ stock in the open market instead of RZZ stock.   Because it trades at an even greater discount to FMV than whatever RZZ trades at!    Assuming that Ian Ball thinks that RZZ trades at a discount to FMV thus a good use of company cash is to buyback these shares in the open market. 

GZZ has 133,918,577 shares out at last count.   At .29C  Can that is $38.84M  market value.    GZZ has a few other insignificant assets in cash, royalties,  and other company shares and option/promote/buy-in agreements on leased land.   Maybe worth a few $M.
They have NO liabilities of any note.    GZZ does OWN  5,605,246 shares of RZZ,  at  $10.60 per share that is worth $59.41M  Can.

So,  IAN  why buy RZZ stock in the open market when you can buy GZZ stock which holds almost 50% of RZZ shares in the open market at a valuation discount of about 35% off?     We as shareholders PAY you two people good $$ to maximize shareholder value.  GZZ has  a few $M in some other assets and NO other significant liabilities.  
Read more at https://stockhouse.com/companies/bullboard#1Zjps1Iimv1fwoqG.99

[drbubb]

EXPLORERS are lagging GDXJ - may play catch-up, if GDXJ keeps rallying

GDXJ /Jr. Gold Miners vs. CKG.t, AMM.t,  RRI.t ... fr. 3/22/13 : 5yr - Last: xx

AMM.,t / Almaden Minerals ... fr. 3/22/13 : AAU - Last: C$0.79 x 0.759 = US$0.60

December 2018: Almaden held its 9th large-scale community meeting to explain the Ixtaca Project to over 800 people. Almaden has held these large-scale meetings since 2012, and total attendance is now over 4,100 people. We are grateful to the representatives of the new Mexican Federal Government who attended this meeting, as well as to all of the local community members. We look forward to working together to continue laying the foundations for sustainable mining at Ixtaca!

Location of the Project

The project is located 120 kilometers southeast of the Pachuca Mine, one of the largest gold and silver deposits in Mexico with a historic production of 1.4 billion ounces of silver and 7 million ounces of gold. The deposit is also well-located in the industrial heart of Puebla State. It is easily accessible from Mexico City Ixtaca, and 95 kilometers north of Puebla city. A rail-serviced industrial park is 25 kilometers away, and regional power is provided by the Laguna Verde nuclear power station, located 200 kilometers to the east on a deep sea port.

Feasibility Study

+42% After Tax IRR ($1275 Au; $17 Ag)

US$174MM CAPEX; US$310MM NPV (5%)

Social and Environment

Located by road 30 km from industrial parkTransparent permitting processActive stakeholder engagementSignificant community benefit water and infrastructure opportunities

Presentation, economics, pg.5 : http://www.almadenminerals.com/INVESTORS/DOCUMENTS/Almaden_Presentation.pdf

website : http://www.almadenminerals.com/

[drbubb]

DIFFERENT SIDES - of the Railroad Tracks

RZZ / Abitibi runs ahead

GZZ vs. RZZ ... update : more /10d : $0.34 / $12.00 = r- 0.00%

Ratio: xx

xx