| From: wolfgangrene | 12/21/2015 2:56:54 PM | | | | | | Ok, I admit to being MUX biased. So I shifted the short term daily channel to the more positive position, showing a 1.37 upside target.
Now MUX! Don't make a fool out of me! …….(that 60 min gap is still a drag)
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| From: JW@KSC | 12/21/2015 3:35:15 PM | | | | | | ADDING TO THE GOLD BAR - MCEWEN IS BUYING PROPERTY FROM NV GOLD CORP. The AFGAN-KOBEH PROOERTY IN EUREKA COUNTY, NEVADA
In DD Heaven Today.....
NO PR on the MUX WEB SITE YET .......
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 21, 2015) - NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it and its wholly-owned Nevada subsidiary, NV Gold Corporation (USA) ("NVX US"), have entered into an Asset Purchase and Sale Agreement (the "McEwen Agreement") with McEwen Mining Inc. ("McEwen"), to sell the Afgan-Kobeh Property in Eureka County, Nevada, (the "Afgan Property") to McEwen for US$450,000. Since the transaction represents a sale of substantially all of the Company's undertaking, the transaction is subject to shareholder approval by special resolution. The transaction is also subject to approval of the TSX Venture Exchange.
The terms of the Agreement also provide that:
McEwen's obligations are subject to McEwen receiving, by December 21, 2015, an agreement (the "Support Agreement") from John E. Watson, the Company's President and CEO and holder of 44.8% of its outstanding shares, under which Mr. Watson agrees to vote his shares of the Company in favour of the special resolution to approve the transaction (now received by McEwen);McEwen's obligations are subject to McEwen being satisfied, by December 21, 2015, with its title investigation in respect of the Afgan Property (McEwen has advised that it is now satisfied);the Company will retain its reclamation bond and remain responsible for completing the reclamation of the Afgan Property required by that bond, but McEwen will be responsible for all other reclamation in respect of the Afgan Property; andthe Company has agreed to hold a shareholders meeting to approve the special resolution to approve the transaction on or before February 1, 2016.The Company announced a transaction with Mr. Watson on November 27, 2015 under which Mr. Watson agreed to acquire the Afgan Property for US$304,626 and the shares of SwissGold Exploration AG for US$50,000 and Watson would be repaid US$354,626 in debts owed to him by the Company (the "Watson Transaction"). The Watson Transaction could be terminated by the Company if the Company received a superior proposal for the assets. The Special Committee of non-conflicted directors formed to consider the Watson Transaction also considered the terms of the McEwen Agreement on behalf of the Company and determined it constituted a superior proposal and that the Company should enter into the McEwen Agreement and terminate the agreement with Mr. Watson. McEwen is entirely at arm's length to the Company and Watson. The Company will terminate the agreement with Mr. Watson.
Wayne Yang, the Chairman of the Special Committee, commented: "The Afgan Property should complement the development of the Gold Bar Project owned by McEwen Mining and located adjacent to the Afgan Property. We are pleased that we were able to reach an agreement with McEwen Mining that will result in the Company substantially paying down its debt, having some additional funding to pursue other business opportunities as well as retaining SwissGold Exploration AG, the owner of its Surselva property. The Special Committee also wishes to acknowledge Mr. Watson's contribution to securing additional value from McEwen by agreeing to enter into the Support Agreement."
The Annual General and Special Meeting of the Company at which the shareholders will be asked to approve the special resolution in respect of the McEwen Agreement is scheduled for January 26, 2016 and, if the special resolution passes and all other approvals are received, closing of the transaction will shortly follow the meeting.
On behalf of the Board of Directors,
(sgd.) "Wayne Yang", Chairman of the Special Committee of Directors
For further information, visit the Company's website at www.nvgoldcorp.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the financial position of the Company and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
CONTACT INFORMATION
NV Gold Corporation
John E. Watson
303.674.9400
john@watson-assoc.com
www.nvgoldcorp.com
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| To: wolfgangrene who wrote (14042) | 12/21/2015 4:04:03 PM | | From: JW@KSC | | | | Wolf - Just a few minutes ago I was thinking after looking at today's volume, I'd like to see it climb above 2M on the day..
Let's just hope Chart Gaps Not do, what they normally do.
With the news today, there's Hope.
All around the mulberry bush
The Monkey chased the weasel.
The Monkey thought 'twas all in fun.
Pop! goes the weasel.
A $1078 for an ounce of Gold,
A $14.27 an ounce of Silver.
That's the way the money flows,
Pop! goes the weasel.
.
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| To: JW@KSC who wrote (14043) | 12/21/2015 4:15:55 PM | | From: Erie | | | | Getting a prospective property next to Gold Bar for under a half million USD sounds like a winner to me. It won't figure much in the valuation in the short term, but with prospective luck in a few years, . . . .
Erie |
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| From: JW@KSC | 12/21/2015 5:06:25 PM | | | | | | AFGAN-KOBE PROPERTY DESCRIPTION and NI 43-101 TECHNICAL REPORT FROM 2011
Afgan-Kobeh
Overview The Afgan-Kobeh project is located about 28 miles northwest of Eureka in Eureka County, Nevada, and consists of 109 unpatented lode mining claims. These claims cover an area of approximately 2,180 acres in all or portions of Sections 17-20 and 29-32, T22N, R51E, Mount Diablo Base and Meridian.
NV Gold purchased the Afgan-Kobeh property from Gold Standard Royalty (Nevada) Inc. for $200,000 in cash ($100,000 paid on closing date and remaining $100,000 paid on first anniversary of the closing date (June 14, 2011)), 600,000 shares, and 600,000 share purchase warrants of NV Gold; Gold Standard will retain a 1% NSR royalty on the property and on claims located within an area of interest. Gold Standard is a subsidiary of Golden Predator Royalty & Development Inc.
The Afgan-Kobeh project contains a semi-continuous zone of gold mineralization that lies along the contact of thinly bedded siltstones of the Webb Formation with the underlying Devils Gate Limestone. This contact dips easterly at shallow to moderate angles, with the bulk of the mineralization occurring in brecciated Webb sediments that are frequently altered to jasperoid.
Mineralizing controls beyond the east-dipping Webb – Devils Gate contact are presently poorly understood. It is possible that high-angle structures and/or karstic features influenced the localization of higher-grade areas. An understanding of these controls would enhance both future exploration efforts and resource modeling at Afgan-Kobeh.
The Afgan-Kobeh resource is open for expansion in several areas:
Up-dip (to the west) beyond the present resource limits in the northern portion of the deposit. This target, which includes the largest outcroppings of jasperoid in the project area, was partially tested by Midway in 2007 with positive results; andAlong the poorly defined southern limits of the deposit, which are characterized by relatively deep resources of higher than average grades. These deeper existing resources need to be tested up-dip along the projection of the Webb – Devils Gate contact to the surface.Mine Development Associates (MDA) believes the best opportunity for significant expansion of the existing resource base lies to the southwest of the present extents of the Afgan deposit. The prospective near-surface Webb – Devils Gate contact can be inferred for a distance of approximately 4,500 feet between the southern limit of the existing resources and the southernmost exposure of Devils Gate limestone on the Afgan-Kobeh project, and is likely to continue further to the south beneath alluvial cover.
This southern target area has the potential to provide significant additional shallow and presumably oxidized resources to the Afgan-Kobeh project.
Technical Report (NI 43-101) : June 24 2011
History Lyle F. Campbell originally located claims north of Afgan-Kobeh in the late 1970s and optioned the claims to American Selco, Inc. (“Amselco”). Amselco subsequently identified anomalous gold in outcrop to the south and staked the original claims of the Afgan claim block. The Kobeh claims south of the Afgan claim block were added to the project by Great Basin Exploration and Mining, Inc. (“Great Basin”) in 1991. Exploration has been primarily focused on the Afgan portion of the property, where significant gold mineralization was encountered in drilling in the 1990s.
The property has been explored by Amselco, Hecla Mining Company (“Hecla”), Santa Fe Mining, Inc. (“Santa Fe”), Phelps Dodge Mining Company (“Phelps Dodge”), Great Basin, Cominco American Inc. (“Cominco”), White Knight Gold, Inc. (“White Knight”), and Midway Gold Corp. (“Midway”) from 1980 through 2007. In addition, the Lyle F. Campbell Trust (“LFC Trust”), underlying owner of the Afgan and Kobeh claims for much of the period from 1980 to 2007, explored the project at various times when no leases were active. Westley Explorations Inc. and Castleworth Ventures Inc. also held parts of the property in the past, but did not undertake significant exploration activities. In 2007, Gold Standard Royalty (Nevada) Inc. (“Gold Standard”) purchased all of the properties of the LFC Trust, and NV Gold purchased its interests in both the Afgan and the Kobeh properties from Gold Standard in 2010.
Exploration of the property has included drilling of 160 holes totaling 50,837 feet. Phelps Dodge drilled 63 RC holes on the Afgan portion of the property in 1990-1991, which has been the largest drilling program to date. Gold mineralization was intercepted in 55 of their 63 holes. Geologic mapping, geochemical sampling, regional gravity and electromagnetic surveying, and CS-AMT and other geophysical surveys have been completed on the property.
There has been no gold production from the Afgan-Kobeh project.
The Afgan-Kobeh project consists of 109 unpatented lode mining claims that cover an area of approximately 2,180 acres within Eureka County, Nevada.
2010 drill hole locations
Mineral Resource Mineral resources reported for the Afgan deposit were modeled and estimated by Mine Development Associates in March 2004 and classified in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definitions.
Afgan-Kobeh Gold Resources
Indicated Resources
| Cutoff
| Tons
| Au Grade
| Au Ounces
| (oz Au/ton)
| (oz Au/ton)
| 0.010
| 3,206,000
| 0.021
| 66,000
|
Inferred Resources
| Cutoff
| Tons
| Au Grade
| Au Ounces
| (oz Au/ton)
| (oz Au/ton)
| 0.010
| 3,972,000
| 0.014
| 55,000
|
A cutoff of 0.01 oz Au/ton was chosen to capture mineralization potentially available to open-pit extraction and heap-leach processing.
All of the resources are oxidized.
No Measured resources are reported for the project due to:
the general lack of QA/QC data;some uncertainty with regards to the exact location of a number of the drill holes;the insufficiency of metallurgical data; andthe absence of density data.
Geology and Mineralization Gold occurs on the Afgan-Kobeh project as oxidized, epithermal, disseminated, sediment-hosted mineralization located primarily at the brecciated base of a clastic section identified as probable Webb Formation of Mississippian age. The Webb Formation overlies the Devonian-aged Devils Gate Limestone, which hosts a small portion of the gold resource. The Webb – Devils Gate Limestone Formation contact has been interpreted by previous workers to be a fault that dips at low to moderate angles to the east. The Webb – Devils Gate contact is the principal control of the Afgan-Kobeh gold mineralization, although high-angle east-northeast-trending structures may also be of secondary importance in the localization of higher gold grades. Tertiary volcano-sedimentary rocks unconformably overlie the Paleozoic rocks and are oriented roughly parallel to the Webb – Devils Gate contact.
Modeling by Mine Development Associates (MDA) in 2004 produced a block model of the Afgan deposit in which approximately 80% of the mineralized blocks are modeled as Webb Formation, while 20% are modeled as Devils Gate Limestone. The gold mineralization was modeled by MDA to lie within a semi-continuous zone that extends for over 4,100 feet in a north-northeast direction and 1,500 feet east-west.
The Afgan deposit is similar to other sediment-hosted gold deposits in Nevada, such as the Rain gold mine. At Rain, gold is associated with brecciated, oxidized, silicified and argillized mudstones, siltstones, and sandstones of the Webb Formation immediately above its unconformable contact with the Devils Gate Limestone.
NI 43-101 Technical Report (NI 43-101) : June 24 2011
Source: SOURCE : Link NV Gold Corp. |
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| To: JW@KSC who wrote (14041) | 12/21/2015 5:28:13 PM | | From: labaguette | | | | | nice answer jw .as to be listed on the Nyse is the core strategy for rob , i think he is able to propel the stock the very last days if necessary ; 7 days to wait . |
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| To: JW@KSC who wrote (14041) | 12/21/2015 7:46:52 PM | | From: Erie | | | | JW or others,
Some of the posts imply that this month (Dec.) is more important the other months in terms of the rules for being listed. I'm not challenging that interpretation, I'm only asking for an explanation in order to understand our situation better. I get the rule about being warned after the 30 day average drops before $1, but is there a provision for getting 'off probation' (or whatever term I should be using) if the most recent month has an average above $1? Even if there is, I don't see how MUX could pull that off in the last few days.
However, if there is such a rule, could January, or Feb. do the trick?
If Rob personally or the MUX buyback program is buying a lot recently, it might explain the unusually high volume on the Toronto exchange. Rather than following the NY lead, it almost seems lately that Toronto is leading the way higher. But it's hard to know, without some more digging, because of the fluctuating exchange factor.
Erie |
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