Past year: ▲ 64%(70.0c – 1.22 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2024resource reserve update● Neutral
The company furnished the full technical report for the Reward feasibility study (effective Sept 3, 2024, signed Sept 30, 2024), prepared by Kappes Cassiday & Associates with other qualified persons. This is the detailed document behind the Sept 5 results; the excerpt here does not add new figures.
6 Sept 2024resource reserve update▲ GoodMajor
The company announced a feasibility study for its 100%-owned Reward Project: 370,000 oz of gold in proven and probable reserves, all permits in place to start construction, pre-production capital of US$89.7M, and a US$127M after-tax NPV at US$2,400/oz gold. Reward previously had resources only and no reserves, so this is the first reserve figure for it. The same release says the company has started a strategic review that could include a sale of the company or its assets, a merger or a joint venture, and that it agreed in principle to extend the Augusta Investments loan to Feb 28, 2025. It is also considering converting some or all of that debt to equity, which would dilute shareholders; no decisions have been made on any of these.
14 July 2023resource reserve update● Neutral
The company re-released its Bullfrog Project resource report (effective date Dec 31, 2021) only to name Forte Dynamics, Inc. as the qualified firm instead of individual employees. The filing states there are no changes to the resource estimates and only minor typographical edits, so there is no new information on the project.
7 July 2022resource reserve update▲ GoodMajor
The company received a technical report on the newly acquired Reward Project in Nye County, Nevada, with a May 31, 2022 effective date, estimating measured and indicated resources of 17.77 million tonnes at 0.75 g/t (426.7 thousand ounces of gold) plus inferred 1.23 million tonnes at 0.68 g/t (27.1 thousand ounces), at a $1,700/oz gold price. The filing states the project is exploration stage with no known mineral reserves.
