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Leviathan Gold Ltd V.LVX

Alternate Symbol(s):  LVXFF

Leviathan Gold Ltd. is a Canada-based company, which is principally engaged in the acquisition and exploration of resource properties in Victoria, Australia. The Company’s projects include the Avoca and Timor Projects. The Avoca and Timor projects comprise approximately 223 square kilometers of exploration tenements within the Victorian goldfields, approximately 180 kilometers northwest of the state capital of Melbourne. The Projects are served by modern infrastructure, are accessible via paved roads and fall approximately 100 kilometers from the regional cities of Bendigo and Ballarat, both long-established centers of mining services. The Projects are located within an area of the Victorian goldfields, the golden triangle. It has also discovered Fosterville Gold Mine near Bendigo, which boasts reserves of 1.70 million ounces at an average grade of 23.1 g/t Au, including 1.16 million ounces at an average grade of 61.2 g/t Au 8.


TSXV:LVX - Post by User

Comment by Tadon Jul 28, 2022 10:46am
341 Views
Post# 34856887

RE:RE:RE:RE:Help Me Out...

RE:RE:RE:RE:Help Me Out...

The corporate presentation has not been updated since the original one was posted on the company website in February 2021.

As of the last financial statement, the company had around $5.5 million in cash left from the $12 million raised in the IPO (at $0.50 if I recall correctly).

LVX burnt through around $7 million cash in its first year of operations with precious little to show for itself. Shares outstanding  are approx 100 million so the shares are ttrading around cash value as of last financial statement. Who knows how much has been spent since then. If previous indications are any standard, it was about 5 months between the last two exploration updates. 

This company will run out of funds long before we see our remaining escrowed shares become free trading. On or about August 10 we get the next tranche of shares released.

I have nothing good to say about the current state of affairs, hopefully they can hit some decent intercepts at Avoca and Timor ..... soon .





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