Category: Natural Resources

Probe Gold Expands its Monique Gold Deposit with Key Acquisition

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Probe Gold acquires Bermont Claims to extend Monique Deposit’s strike length by 750 meters, adding exploration potential.
– Historical drilling identified high-grade gold zones, including intercepts of up to 30.9 g/t gold over 1.6 meters.
– The acquisition expands surface mine infrastructure, facilitating operational efficiencies and reduced costs.

Probe Gold Inc. has announced the acquisition of the Bermont Claims property, strategically located adjacent to its Monique Gold Deposit in Val-d’Or, Quebec. This move is poised to extend the strike length of the Monique Deposit by 750 meters, offering significant opportunities for resource expansion and exploration. The transaction aligns with Probe Gold’s commitment to maximizing the potential of its Novador Development Project and advancing high-quality gold resources.

The newly acquired property spans ten contiguous claims and adds critical exploration upside. Historical drilling has identified high-grade gold zones, including the Bermont and Adelemont zones, which remain open laterally and at depth. Despite limited exploration, previous results from the property demonstrate promising grades, such as 30.9 g/t gold over 1.6 meters and 5.7 g/t gold over 3.2 meters. Probe Gold plans to incorporate this land into its 2025 exploration and resource expansion programs, focusing on uncovering additional high-grade mineralization.

David Palmer, President and CEO of Probe Gold, emphasized the strategic value of this acquisition. “This new land enhances our Monique Deposit by increasing exploration potential by 30%, while also offering critical space for surface mine infrastructure,” Palmer stated. He further highlighted the acquisition’s potential to unlock new high-grade discoveries and contribute to an even more robust Novador Development Project.

The transaction includes an upfront payment of $3 million, split evenly between cash and common shares of Probe Gold. Additionally, a $1.5 million milestone payment, in cash or shares, will be made upon confirming a resource of at least 1 million ounces of gold on the property. Jadmine, the seller, will retain a 3.5% net smelter return royalty, of which 2.5% can be purchased by Probe Gold for $2.5 million.

The Bermont Claims property complements the Monique Deposit, which currently hosts 3.56 million ounces of measured and indicated resources and 677,300 ounces of inferred resources. Geological similarities between the Bermont Claims and Monique Deposit strengthen the potential for integrating new discoveries into Probe’s existing operations. Moreover, the property’s expanded surface area is expected to facilitate mine design improvements, reducing costs and increasing operational efficiency.

Since 2016, Probe Gold has been consolidating its position in the Val-d’Or mining district, known for its prolific gold production and mining-friendly environment. The Novador Development Project, which hosts four past-producing mines and accounts for 80% of the company’s gold resources, is central to Probe Gold’s strategy. This acquisition aligns with the company’s focus on advancing resource-rich properties in politically stable and low-cost regions.

The deal is expected to close in the coming weeks, subject to regulatory approvals and customary closing conditions. With an aggressive exploration plan set for 2025, Probe Gold aims to leverage this acquisition to enhance its production profile and create long-term value for shareholders.

As the Monique Deposit grows in scope and potential, Probe Gold solidifies its position as a leader in the Canadian gold mining industry, driving forward with a vision for sustainable growth and innovation.

Agnico Eagle to Acquire O3 Mining in Strategic $204 Million Transaction

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Agnico Eagle is acquiring O3 Mining for $204 million at a 58% premium to its recent share price.
– The deal integrates O3’s Marban Alliance project with Agnico’s Canadian Malartic complex to boost production.
– The transaction has full board approval and support from 22% of O3 shareholders.

Agnico Eagle Mines Limited has announced a definitive agreement to acquire O3 Mining Inc., a gold exploration and development company based in Québec, Canada. This $204 million all-cash transaction marks a pivotal step for both companies, with Agnico Eagle enhancing its regional strategy and O3 Mining securing substantial value for its shareholders.

Under the terms of the agreement, O3 Mining shareholders will receive $1.67 per share, representing a 58% premium to the company’s closing price as of December 11, 2024. The transaction has been unanimously endorsed by O3 Mining’s Board of Directors and Special Committee, with support from shareholders owning approximately 22% of the company’s outstanding shares.

This acquisition focuses on O3 Mining’s flagship property, the Marban Alliance project, located near Agnico Eagle’s Canadian Malartic complex in Québec’s Abitibi region. The Marban Alliance includes the Marban deposit, which boasts 1.7 million ounces of gold in indicated mineral resources and an additional 32,000 ounces in inferred resources. This advanced exploration project has the potential to support a large-scale open-pit mining operation, making it an ideal fit for Agnico Eagle’s existing infrastructure and expertise.

Agnico Eagle President and CEO, Ammar Al-Joundi, described the acquisition as a continuation of the company’s regional strategy. “The Marban deposit complements our ‘Fill-the-Mill’ initiatives at the Canadian Malartic complex. With our operational expertise and established infrastructure, we aim to unlock the full potential of this asset while driving sustainable value for stakeholders.”

The integration of the Marban Alliance property into Agnico Eagle’s operations is expected to generate significant synergies by leveraging existing facilities, including the Canadian Malartic mill and equipment fleet. These efficiencies will enhance production capabilities, improve the overall production profile, and create long-term benefits for the region.

O3 Mining President and CEO, José Vizquerra, expressed enthusiasm about the transaction. “This offer provides exceptional value for our shareholders and validates the efforts of the O3 Mining team over the past five years. Agnico Eagle’s financial strength and commitment to stakeholder collaboration make it the ideal partner to advance the Marban Alliance project through permitting and construction.”

The transaction will formally commence with Agnico Eagle’s mailing of a takeover bid circular on December 19, 2024, and O3 Mining’s directors will respond with their recommendation. Shareholders have until January 23, 2025, to tender their shares. The agreement includes customary conditions, such as the approval of at least two-thirds of O3 Mining’s shareholders.

In addition to the Marban Alliance project, O3 Mining’s portfolio includes the Alpha and Kinebik properties, offering further exploration opportunities. The deal underscores Agnico Eagle’s position as a leader in the precious metals industry, with operations spanning Canada, Australia, Finland, and Mexico.

This acquisition signifies a major milestone in Agnico Eagle’s growth strategy and reinforces its commitment to sustainable mining practices, operational excellence, and community partnership. As the two companies move forward, the transaction is poised to unlock new opportunities and solidify Agnico Eagle’s leadership in the global gold mining sector.

Take a moment to take a look at more emerging growth metals & mining companies by taking a look at Noble Capital Markets’ Research Analyst Mark Reichman’s coverage list.

Comstock (LODE) – Investment Rating Lowered to Market Perform

Posted on by cpereira@noblefcm.com


Wednesday, December 18, 2024

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Reassessing the path to commercialization. We are lowering our investment rating to a Market Perform from Outperform. While Comstock has made significant progress advancing its business unit plans, we think the path toward commercializing its Fuels and Metals businesses could take longer than we previously expected and is subject to a number of risk factors, including execution and financing. Based on the company’s liquidity, anticipated capital requirements, risk and reward profile, and lead time associated with commercializing its businesses, we think a Market Perform is appropriate.

SBC Commerce transaction. In August, Comstock announced a significant and promising transaction with SBC Commerce LLC (SBCC), a U.S. based private equity group, to directly invest in each of Comstock’s businesses and acquire Comstock’s properties in Silver Springs, Nevada. Our previous valuation and price target were based in part on the implied value of the transaction. To date, no definitive agreement has been announced with SBC Commerce, and it is unclear to us whether the transaction will close as contemplated. We look forward to an update and will wait to assess any final agreement(s).


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Gold Prices Dip as Fed Meeting Looms

Posted on by slightbourne@noblecapitalmarkets.com
Key Points
– Gold fell 0.6% to $2,636.89 per ounce as the dollar and Treasury yields strengthened.
– A widely expected 25 basis-point Fed rate cut this week has not buoyed gold, with attention shifting to 2025 projections.
– Other precious metals, including silver, platinum, and palladium, also saw declines.

Gold prices fell on Tuesday as market participants adjusted their expectations for Federal Reserve policy in 2025. Spot gold dropped by 0.6% to $2,636.89 per ounce, while U.S. gold futures declined 0.7% to $2,650.50. The precious metal faced downward pressure from a strengthening U.S. dollar and rising Treasury yields, signaling a cautious investor outlook ahead of the Federal Reserve’s final policy meeting of the year.

Key Drivers of Gold’s Retreat

Federal Reserve Expectations: Investors anticipate a 25 basis-point rate cut during this week’s meeting, with a staggering 97% probability according to the CME’s FedWatch tool. However, projections for 2025 suggest a more gradual pace of easing, tempering gold’s appeal. Analysts believe this cautious approach reflects lingering concerns over inflation and economic stability.The Federal Reserve’s updated economic projections and the dot plot are expected to shed light on how policymakers view the trajectory of interest rates in the years ahead. A more hawkish stance than currently anticipated could put additional pressure on gold prices, as higher rates reduce the appeal of non-yielding assets like gold.

Economic Data Signals: Strong U.S. retail sales in November and recent warmer inflation readings have introduced the possibility that the Fed could pause additional rate cuts in January, adding uncertainty to the outlook for gold. Robust consumer spending, which has been a key driver of economic growth, suggests that the U.S. economy remains resilient despite previous rate hikes. This resilience could push the Fed to adopt a more measured approach to future rate cuts, weighing on gold’s safe-haven demand.

Currency and Bond Market Impact: A modest 0.1% gain in the U.S. dollar index made gold more expensive for holders of other currencies. Concurrently, 10-year Treasury yields climbed to a four-week high, further diminishing bullion’s allure. Rising yields increase the opportunity cost of holding gold, prompting some investors to shift toward income-generating assets.

    Market Insights

    Analysts remain cautious about gold’s near-term trajectory. “Heading into the Fed meeting, risks for gold are actually tilted to the downside,” noted Zain Vawda of MarketPulse. Similarly, Fawad Razaqzada of Forex.com highlighted the importance of the Fed’s stance on rate cuts in shaping market sentiment. If the Fed signals a more cautious approach to easing, gold could face continued headwinds.

    Beyond the immediate Fed meeting, traders are also eyeing key U.S. GDP and inflation data due later this week. These indicators will provide further clarity on the economic outlook and could influence gold’s performance heading into 2024. Historically, gold has thrived in low-interest-rate environments, but the prospect of a slower pace of rate cuts could limit its upside momentum.

    Broader Precious Metals Market

    The decline in gold was mirrored across other metals:

    • Silver: Fell 0.7% to $30.30 per ounce, as the industrial metal reacted to broader economic signals and a stronger dollar.
    • Platinum: Dropped 0.3% to $932.93 per ounce, weighed down by weak demand prospects in the automotive sector.
    • Palladium: Declined 1.5% to $932.75 per ounce, continuing its downward trend amid waning interest from industrial buyers.

    These moves underscore the interconnected nature of precious metals markets, where factors such as dollar strength and interest rate expectations play a pivotal role.

    Looking Ahead

    Traders are closely monitoring upcoming U.S. GDP and inflation data later this week for further insights. Gold’s performance in the near term will hinge on how the Fed’s messaging aligns with market expectations. Additionally, geopolitical uncertainties and potential shifts in global monetary policy could impact gold’s safe-haven appeal.

    For now, the metal’s trajectory remains uncertain, with market sentiment hinging on the Fed’s ability to balance inflation control with economic growth. As the central bank’s decisions unfold, gold traders will need to stay nimble to navigate the evolving landscape.

    Aurania Resources (AUIAF) – Looking Ahead to a Catalyst-Rich 2025

    Posted on by cpereira@noblefcm.com


    Monday, December 16, 2024

    Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Private placement financing. Aurania announced the closing of the first tranche of its recently announced private placement of up to 8,888,888 units at a price of C$0.45 per unit to raise gross proceeds of up to C$4,000,000. In the first tranche, a total of 2,726,499 units were sold for gross proceeds of C$1,226,924.55. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.75 for a period of 24 months following the closing of the first tranche. The net proceeds will be used to fund exploration in France including impact studies, exploration programs at key targets in Ecuador, and working capital.

    Preparing for 2025. In November, Aurania commenced an induced polarization (IP) geophysical survey over its Kuri-Yawi epithermal gold target at the company’s Lost Cities-Cutucu project in southeastern Ecuador. The IP survey is designed to identify deep conductors that could correspond to gold mineralization and to target drill holes for the planned program in 2025. The IP survey is expected to be completed this month with results expected in early 2025 following a review and interpretation of the data.


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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Maple Gold Mines (MGMLF) – Thoughts on the Winter 2024/2025 Exploration and Drilling Program

    Posted on by cpereira@noblefcm.com


    Thursday, December 12, 2024

    Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon20 presentation. During Noble’s recent NobleCon20 Annual Emerging Growth Equity Conference, Mr. Kiran Patankar, Maple Gold’s CEO, provided some additional details regarding the company’s upcoming exploration and drilling program. A link to Maple Gold’s NobleCon20 presentation is here. Recall that Maple Gold has a 400 square kilometer district-scale property in Quebec’s Abitibi Greenstone Gold Belt, including gold mineral resources of approximately three million ounces at Douay with significant expansion potential and the past producing Telbel and Eagle West mines at Joutel.

    Upcoming drilling program. Maple Gold’s fully funded drilling program is expected to commence shortly and run through March. The company is using a data-driven approach toward exploration that is focused on expanding the company’s gold mineral resource from approximately three million ounces to five million ounces across the combined Douay/Joutel projects, along with making new discoveries. An updated resource estimate and scoping study is expected to be completed within the next 12 to 18 months.


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    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Release – Alliance Resource Partners, L.P. to Attend Upcoming Investor Conferences

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on ARLP

    December 2, 2024

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    TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP” or the “Partnership”) today announced that the Partnership will attend the following investor conferences:

    • Bank of America 2024 Leveraged Finance Conference, December 3, 2024; and
    • Noble Capital Markets 20 th Annual Emerging Growth Equity Conference, December 4, 2024.

    The Partnership will post an investor presentation ahead of the events in the “Investors” section of ARLP’s website at www.arlp.com under “Events & Presentations.”

    About Alliance Resource Partners, L.P.

    ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.

    News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.

    Investor Relations Contact
    Cary P. Marshall
    Senior Vice President and Chief Financial Officer
    918-295-7673
    investorrelations@arlp.com

    Source: Alliance Resource Partners, L.P.

    Alliance Resource Partners (ARLP) – Increasing Longer-Term Oil and Gas Royalty Volume Expectations; Price Target Increased

    Posted on by cpereira@noblefcm.com


    Wednesday, November 27, 2024

    ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

    Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Adjusting estimates. While our 2024 and 2025 estimates are unchanged, we have increased our 2026 through 2030 EBITDA and EPU estimates to reflect higher year-over-year growth in oil and gas royalty volumes of 12.5% compared to our previous estimate of 2.0% which we think is too conservative based on the partnership’s record. Our commodity price deck is unchanged. We have assumed an average of $75 million per year in oil and gas reserve acquisitions in 2026 through 2030. Based on our higher forward estimates and a modest 100-basis point reduction in our discount rate to 9.5%, we have increased our price target to $33 per share from $28.

    Hail to the incoming chief. We expect industries associated with the fossil fuels to benefit from the upcoming change in U.S. Presidential administrations. It is our belief that the Trump Administration may seek to roll back the EPA’s carbon emissions rule which could extend the life of existing coal-fired power plants. Moreover, we think the business climate could improve based on a move toward market-based energy policies and a reduction in regulatory burden.


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    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Aurania Resources (AUIAF) – Increasing Financial Flexibility Ahead of the 2025 Exploration Program

    Posted on by cpereira@noblefcm.com


    Tuesday, November 26, 2024

    Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Private placement financing. Aurania intends to raise up to C$4.0 million in a private placement of up to ~8.9 million units at a price of C$0.45 per unit to fund exploration programs in France and Ecuador. Each unit will consist of one common share and one common share purchase warrant. Each warrant may be used to purchase one common share at an exercise price of C$0.75 for a period of 24 months following the closing of the offering. The private placement is expected to close in December and is contingent on the receipt of necessary approvals, including by the TSX Venture Exchange.

    Concessions in Ecuador. Aurania reached an agreement with Ecuadorian authorities regarding the payment of its 2024 concession fees for its 42 mineral exploration concessions in Ecuador. Aurania has made a partial payment with the balance to be paid within the following six months, including interest associated with the outstanding amount. The concessions remain in good standing.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Release – Maple Gold Appoints New Chief Financial Officer to Management Team

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on MGMLF

    November 21, 2024 4:38 PM EST

    Vancouver, British Columbia–(Newsfile Corp. – November 21, 2024) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce the appointment of Mr. Nicholas (Nick) Furber, CA (ICAEW), CFA to the role of Chief Financial Officer (“CFO”), effective immediately. Mr. Furber is a seasoned CFO with strategic capital markets experience in growth-oriented businesses within the mining industry. He will be assuming the CFO responsibilities from Mr. Michael Rukus, CGA, CPA who will continue with the Company in another role.

    “I am delighted to welcome Nick Furber to our senior management team and look forward to his contributions as the Company enters an exciting new phase of growth,” stated Kiran Patankar, President and CEO of Maple Gold. “His prior experience as CFO helping to guide mining companies from exploration, through development and into production will help drive ongoing value creation for Maple Gold shareholders. I would also like to thank Michael Rukus for his diligent work and stewardship of our finances during his time as Interim CFO and look forward to the continuity he will provide in his ongoing role with the Company.”

    Nick Furber, CA (ICAEW), CFA – CFO

    Nick Furber, CA (ICAEW), CFA is senior financial professional with over 25 years of experience providing consulting, management and financial advisory services for private and publicly traded companies, primarily focused in the mining industry. This included 10 years as CFO and Corporate Secretary of Dynasty Metals & Mining Inc. (“Dynasty”) when Dynasty evolved from gold exploration into a producer listed on the Toronto Stock Exchange (“TSX”). Mr. Furber also brings over 10 years of accounting, mergers & acquisitions, valuations and due diligence experience in a variety of industries gained while working at PricewaterhouseCoopers. Mr. Furber was educated in the United Kingdom and has his Chartered Accountant (ICAEW) and Chartered Financial Analyst designations.

    Stock Option Issuance

    The Company’s Board of Directors has approved the grant of stock options (“Options”) to purchase an aggregate of 850,000 common shares of the Company (each, a “Common Share”) with an exercise price of $0.055 per Common Share to certain employees, officers, and consultants. Once vested, each Option is exercisable into one Common Share for a period of five years from the grant date. The Company’s Equity Incentive Plan (the “Plan”) governs these Options, as well as the terms and conditions of their exercise, which is in accordance with policies of the TSX Venture Exchange. Further details regarding the Plan are set out in the Company’s Management Information Circular filed on July 26, 2024, which is available on SEDAR+.

    About Maple Gold

    Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex.

    Maple Gold’s property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

    ON BEHALF OF MAPLE GOLD MINES LTD.

    “Kiran Patankar”

    Kiran Patankar, President & CEO

    For Further Information Please Contact:

    Mr. Kiran Patankar
    President & CEO
    Tel: 604.639.2536
    Email: kpatankar@maplegoldmines.com

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

    Forward Looking Statements and Cautionary Notes:

    This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,”, “strategy”, “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about the resource expansion and discovery potential across the Company’s gold projects, and its intention to pursue such potential, and the Company’s exploration work and results from current and future work programs. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company’s expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company’s filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company’s website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

    info

    SOURCE: Maple Gold Mines Ltd.

    Gold Hits One-Week High Amid Russia-Ukraine War Escalation

    Posted on by slightbourne@noblecapitalmarkets.com
    Key Points:
    – Gold Hits $2,630: Nuclear fears in the Russia-Ukraine war drive demand.
    – 27% YTD Gain: Gold outpaces S&P 500 as central banks boost reserves.
    – $3K Target: Goldman sees current prices as a buying opportunity.

    Gold prices surged to a one-week high, trading near $2,630 per ounce on Tuesday, as escalating tensions in the Russia-Ukraine conflict heightened fears of a potential nuclear threat. The precious metal, often regarded as a safe haven during times of geopolitical uncertainty, saw increased demand as investors sought stability amidst rising global risks.

    The climb in gold futures came after Russian President Vladimir Putin signed a revised nuclear doctrine that lowers the threshold for deploying nuclear weapons. This development coincided with the Biden administration’s decision to allow Ukraine access to long-range U.S.-made missiles, enabling deeper strikes into Russian territory. These moves intensified concerns about the broader implications of the conflict, driving investors toward assets perceived as more secure.

    While the U.S. Dollar Index (DX-Y.NYB) has strengthened in recent weeks, contributing to a decline in gold prices post-election, the precious metal remains one of the strongest-performing assets of the year. Gold has risen approximately 27% year-to-date, outperforming the S&P 500’s 23% gain over the same period. This robust performance is attributed, in part, to central banks around the world increasing their gold reserves, signaling confidence in its long-term value.

    Analysts at Goldman Sachs highlighted the investment potential of gold in light of its recent price consolidation following the U.S. elections. In a report released over the weekend, the firm urged investors to consider going “long gold,” citing a favorable buying opportunity. Goldman Sachs maintains a bullish outlook for the commodity, projecting a price target of $3,000 per ounce by the end of 2025.

    “The gold price consolidation following the orderly U.S. election — flushing speculative positioning from near all-time highs — provides an attractive entry point to buy gold,” the analysts noted.

    A key factor behind gold’s sustained momentum is the Federal Reserve’s pivot toward lower interest rates. As a non-yield-bearing asset, gold becomes more attractive in a low-interest-rate environment, where the opportunity cost of holding it decreases. This shift in monetary policy has further supported the metal’s rally in recent months.

    Additionally, central banks worldwide have been aggressively bolstering their gold reserves, reinforcing its status as a hedge against economic and geopolitical instability. The ongoing accumulation by these institutions underscores the asset’s enduring appeal in uncertain times.

    As the Russia-Ukraine conflict evolves, gold’s role as a hedge against global instability is likely to remain in focus. With escalating geopolitical tensions and continued central bank support, the metal appears well-positioned for further gains.

    Investors will also keep a close eye on broader economic trends, including the Federal Reserve’s monetary policy and shifts in global market sentiment, which could influence gold’s trajectory in the months ahead.

    In a volatile world, gold’s enduring value as a store of wealth and a hedge against uncertainty continues to shine. As geopolitical risks intensify, the precious metal’s appeal as a safe haven remains as strong as ever.

    Orla Mining Expands into Canada with $810M Acquisition of Musselwhite Gold Mine

    Posted on by slightbourne@noblecapitalmarkets.com
    Key Points
    – Orla acquires Musselwhite Gold Mine for $810M, doubling annual gold production to over 300,000 ounces.
    – Musselwhite’s reserves and excess capacity position Orla for significant growth and resource expansion.
    – The deal avoids equity dilution, backed by cornerstone investors and structured financing.

    Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) has announced its strategic acquisition of the Musselwhite Gold Mine in Ontario from Newmont Corporation for $810 million in cash, with an additional $40 million contingent on future gold prices. The move solidifies Orla’s transformation into a premier North America-focused, multi-asset gold producer, doubling its annual gold production to over 300,000 ounces and targeting growth to 500,000 ounces with the South Railroad Project in Nevada set to begin production by 2027.

    This acquisition diversifies Orla’s portfolio, adding a tier-one jurisdiction to its operations. Located in Northwestern Ontario, Musselwhite is an underground mine with a proven track record, having produced nearly 6 million ounces of gold over its 25 years of operation. With 1.5 million ounces in proven and probable reserves and significant exploration potential, the mine represents a long-term growth opportunity for Orla.

    The transaction is structured to avoid upfront equity dilution, financed through a mix of debt, gold prepayment, convertible notes, and cash. This includes commitments from cornerstone investors such as Fairfax Financial Holdings, Pierre Lassonde, and Trinity Capital Partners. The company’s robust financial position and support from existing shareholders enable it to capitalize on the acquisition without compromising shareholder value.

    Orla’s management plans to leverage Musselwhite’s excess processing capacity and its extensive 65,000-hectare mining lease for exploration and resource expansion. The mine’s current recovery rates of 96% and its history of consistent reserve replenishment underscore its potential for long-term value creation.

    CEO Jason Simpson emphasized the strategic significance of the acquisition: “This milestone more than doubles our production and establishes our presence in Ontario, a premier mining jurisdiction. We are committed to optimizing Musselwhite’s operations, exploring its vast potential, and maintaining strong relationships with local stakeholders and First Nations communities.”

    The transaction is expected to close in early 2025, subject to shareholder and regulatory approvals. Orla’s board has unanimously recommended the deal, highlighting its alignment with the company’s growth strategy and significant accretion to key financial and operating metrics.

    Musselwhite’s addition will generate over $150 million in average annual free cash flow, enabling Orla to self-fund its growth pipeline, including the Camino Rojo Sulphides project in Mexico and continued exploration in all operating regions.

    With this acquisition, Orla strengthens its position as a leading North American gold producer, blending operational expertise with strategic financial planning to drive shareholder value and long-term growth.

    Take a moment to take a look at other emerging growth natural resources companies by taking a look at Noble Capital Markets Research Analyst Mark Reichman’s coverage list.

    Maple Gold Mines (MGMLF) – Recent Private Placement Provides Flexibility to Pursue a Robust Exploration Program

    Posted on by cpereira@noblefcm.com


    Monday, November 18, 2024

    Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Private placement financing. On November 14, Maple Gold Mines closed a private placement of 32,695,384 non-flow-through (NFT) units at a price of C$0.065 per NFT unit and 35,935,000 flow-through (FT) common shares of the company at a price of C$0.08 per FT share for total gross proceeds of C$5 million. Each NFT unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one non-flow-through common share at a price per warrant share of C$0.10 until November 14, 2027.

    Third quarter financial results. As an advanced exploration and development company, Maple Gold does not generate revenues and incurs expenses associated with advancing its projects. Maple Gold generated a third quarter loss of C$1.3 million or C$(0.00) per share compared to a loss of C$1.1 million or $(0.00) per share during the prior year period. We had anticipated a loss of C$1.5 million or C$(0.00) per share.


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