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Unigold Inc V.UGD

Alternate Symbol(s):  UGDIF

Unigold Inc. is a junior natural resource company. The Company is in the business of exploring its mineral concession properties in the Dominican Republic (DR). It is focused on exploring and developing its significant land position in the DR, within the highly prospective Cretaceous-age Tireo Formation. The Company’s Neita Concession encompasses 21,031 hectares (ha) of the Tireo Formation, a thick sequence of intermediate volcanic and volcanoclastic rocks produced by island arc volcanism that are highly prospective for Porphyry Cu and Cu-Au deposits; High to low sulphidation Au and Au-Ag epithermal deposits, and Volcanogenic Hosted Massive Sulphide (VHMS) Au-Ag-Cu-Pb-Zn deposits. Its Candelones Project is located south of the town of Restauracion in the northwestern Dajabon Province of the Dominican Republic. Its Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabon province, in the northwest part of the Dominican Republic.


TSXV:UGD - Post by User

Bullboard Posts
Post by tbs001on Aug 29, 2013 12:51pm
306 Views
Post# 21706669

some info from their MD&A

some info from their MD&AAs at June 30, 2013, the Company has working capital of $7,892,569 (December 31, 2012 – $7,916,973). As of June 30, 2013, the Company has a cash balance of $8,249,675 (December 31, 2012 – $8,265,454) to settle current accounts payable and accrued liabilities of $757,679 Unigold will continue to drill its Neita project and plans to complete a maiden NI 43-101 resource estimate for the fourth quarter. Given the present market conditions, the Company has moved to conserve its cash. Drilling was suspended for one month in August and will resume in September but only one drill will operate. An additional drilling hiatus is planned starting mid-December for at least one month. Operations in 2014 will depend on market conditions to raise capital and the results of the second half exploration drilling program as the Company intends to act in a fiscally responsible manner in the current market environment.
Bullboard Posts