A bit of info on the last 2 ($.10) equity financingsAlthough Alexandria has a bizarre $.045 share price (even for this 4 year depressed gold price environment), one could make a compelling case that Alexandria`s assets are being advanced meaningfully in 2015 and Alexandria`s overall (quality) asset pool has significantly grown in 2015 (even relative to increased common shares from the acquistion).
Hopefully Alexandria`s $.10 equity supporters can still see the vision. A lot of positive developments have occurred (with both field work and property acquisitions) over the last 4 months (since the last $.10 equity financing). The $500,000, contributed by this last $.10 investor (towards the winter drill program), has paid off big time. And, this is just the beginning. This Cadillac Break property has a lot of pathfinder type signs.
From the last NR: ``
Widespread alteration occurs in and around two felsic or alkalic
intrusions, over much of the western half of the Company’s 35 km (25 mile) long Cadillac Break Property package near Val d’Or, Quebec. This alteration, which is dominated by magnetite and calc-silicates, is also associated with gold, copper, molybdenum and base metal mines, occurrences and prospects, many of which are distributed within the contact zones around the intrusions.``
``Alexandria has identified a number of gold-copper trends within this geological environment, and will continue its efforts to more fully define these zones through geophysics and geochemistry to aid in drill hole targeting.``
Intrusions, alterations and geophysical megnetic anomalies are good pathfinder type terms to see, when hunting down new mineral discoveries.
Mineral deposits can sometimes be found within an intruded body (like Aurico`s Young-Davidson Mine or Integra`s Triangle Zone), but deposits can also be found just outside of the intrusion. In addition, mineralized intrusions can also be buried well below surface.
The intrusions that extend unto Alexandira`s Cadillac Break property package appears to be well mineralized, especially so on areas that straddle the outer edges of the intruded rock (on both sides - within the intrusive and outside).
The term ``alterations`` can sometimes represent a very important pathfinder. It means there are alterations (changes) in the rock, which can be the result of (the rock) coming in contact with really hot water. It`s just a matter of whether the hot water (fluid) was mineralized or not, when the contact occurred
These bulk tonnage type areas can sometimes be from low-sulphidation (or medium) epithermal activities - heavily driven by a hydrothermal systems.
In a nutshell, meteoric water (i.e. rain water or from a lake or hotspring) goes down into the earth, it interacs with magma (or a feeder zone - more about that soon), it picks up minerals (if any), the magmatic fluids heat up to the boiling level, then goes back up.
The magmatic (boiling) fluids comes into contact with the upper level rocks, which is what causes the alterations (in this example). The key question is: did the magmatic fuild pick up minerals from below, and, if so, what level of mineral content. As the hot magmatic fluids splashes against the rocks at the upper levels, it simultaneously deposits the minerals. This is why alternations (can be seen from colour changes in the rocks) can be an important pathfinder for locating minerals. Of course, rock alterations by itsefl doesn`t guarantee that the magmatic fluids were mineralized. That is why it is important to look at all of the pathfinders, such as geophysical magnetic surveys, fault / fracture locations (provides avenues for the fluids to go through), intrusions, minerals in rock samples, mineralis in soil samples, etc.
Geophysics work in the past have identified a number of gold-copper magnetic trends on Alexandria`s Western Cadillac half of the package. It looks like Alexandria will do some more work to get more grandular data, to more precisely pinpoint the best areas to drill.
Actually, the alterations and the gold-copper trends seem to be plentiful over the Western side of the property (especially around the intrusions). This is why I`m leaning towards us just scratching the surface right now.
As a side note, the level of sulphidation represents only the sulfur level. It doesn`t represent the mineral content level. Bulk tonnage deposits tend to be spread out due to heavy interactions with hydrothermal systems, but there could still be plenty of mineral content. They are especially more potent when you can find higher grade veins within the widespread dessiminated area. Also of note, many deposits around Val d`Or (maybe like Integra`s deposits) are likely more high-sulphidation structures, where there were perhaps (likely) less interactions with hydrothermal fluids. Osisko`s large (10 million oz) deposit (without looking at their data) was likely more of a low or medium sulphidation deposit, with very heavy iinteractions with hydrothermal fluids.
With regards to feeder zones, I believe there could be a feeder zone or several feeder zones down below that is feeding all (or some) of this mineral content to Alexandria`s property. It could be a hydrothermal breccia structure or it could be a domed (buried) intrusive or it could be something else. But, something is supplying this mineral content (if it didn`t come directly from deep magma).
In my opinion, finding a feeder zone at depth would likely be a game changer (as it is likely to be very rich).
Anyway, back to the $.10 investor.
From Chris Temple (National Investor Report) February 2015 Alexandria write up:
``And just as I am updating this profile, Alexandria has announced (on January 30) that it has once again raised some added funds for further exploration and operations at astonishingly favorable terms. One major investor--who already has a relationship with Alexandria, and clearly must recognize the story and value alike--has taken a private placement of AZX shares at a price of C10 cents per share. And this with Alexandria's vastly underappreciated story seemingly not being reflected in the current market price of half that!``
Chris says that the January financing was from an existing major investor.
I don`t know if anything noticed, but this Janaury financing included $.15 warrants with one year expiry. Half warrants with full warrants having strike price of $.15. The one year expiry (instead of 18 months or 5 years) suggests that this was meant to provide a bit of short-term (bridge cash) for a small exploration program. The warrants would only provide $375,000 cash, but I guess would come in handy for a small bridge amount. With the share price still being at $.045 now, the gap might be a bit too much for them to convert over the $.15 warrants. The January financing was done at $.10 when the share price was at $.05.
The previous equity financing was also $.10, back in 2013 (no warrants). That financing was done at $.10 when the Alexandria share price was around $.03. Per the TSX Venture Daily Bulletins report, the second tranche of that financing had 2 placees. I didn`t look up the first tranche, but it was likely similar.
Clearly, there are some strong investors behind the scenes that understands the Alexandria story (and the potential), similar to us.