Things looking up? From Morning Coffee newsletter ( Canaccord):
North Country Gold* (NCG : TSX-V : $0.38), Net Change: 0.05, % Change: 13.43%, Volume: 840,029
Time to re-visit? Shares of North Country Gold jumped after neighbouring gold producer Agnico-Eagle (AEM) reported robust production from its Meadowbank mine in Nunavut. For the quarter, the Meadowbank mine produced record gold production of 110,988 ounces of gold at total cash costs of $734 per ounce. NCG owns the Three Bluffs project, which currently hosts a NI 43-101 compliant resource of 4.30 million tonnes at 4.90 g/t gold for 678,000 ounces gold (Indicated) and 4.53 million tonnes at 5.69 g/t gold for 829,600 ounces gold (Inferred).
Recently, NCG announced that it has acquired eight claims totalling 19,369 acres located in key strategic positions adjacent to the company’s Three Bluffs and West Plains target areas, in the Nunavut
Territory. Commenting on the deal, NCG's President and CEO, John Williamson, stated, "North Country believes that the potential for discovery of new ounces on these claims is excellent, and given the proximity to demonstrated resources and mineralization at Three Bluffs and West Plains respectively, this will provide the company with additional opportunities in developing the gold potential along the belt." Investors are beginning to re-visit NCG, given the company’s small market cap (~$40 million) and exciting exploration project. Add to those points AEM’s success at Meadowbank, which has mitigated some of the concerns around mining in the far north, and NCG shares appear poised for continued market attention.