Nuveen California Municipal Value Fund Inc T.NCA

Primary Symbol: NCA

Nuveen California Municipal Value Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to seek current income exempt from both regular federal income taxes and California personal income tax. Its secondary investment objective is the enhancement of portfolio value. The Fund invests in municipal securities that are exempt from federal and California state income taxes. The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. It also invests in inverse floating rate municipal securities. Its investment adviser is Nuveen Fund Advisors, LLC.

NYSE:NCA - Post by User

Nuveen California Municipal Value Fund Inc

<< Previous

Bullboard Posts

Next >>

Post by retiredcfon Apr 11, 2017 12:55pm

146 Views

Post# 26107622

TD

Maintain their $2.00 target. GLTA

NewCastle Gold Inc.

(NCA-T) C$0.81

31 g/t Au over 29.0m and New Zone Discovered Event

Yesterday evening, NewCastle reported results from its Phase II drilling program on the patented claims of its permitted Castle Mountain Gold Project (100%) in San Bernardino County, California.

Impact: POSITIVE

The Phase II (44.5 km) drill program is now complete. Based on the company's recent results, a follow-up program is starting immediately, with the focus on both the high-grade zone and the Footwall Zone discovery.
As a reminder, the Phase II drill program was aimed at upgrading and growing resources through angled drilling, which has tended to reveal higher grades versus historical vertical drilling, and expanding the footprint of mineralization.
Highlights: 29.0m of 31.19 g/t (uncut) or 10.63 g/t (cut) in CMM-195 approximately 65m down-dip from 2014 hole CMM-054 (30.31 g/t over 33.3m) and approximately 150m north of 2014 hole CMM-060 (18.97 g/t over 35.1m). The Lucky John Zone/ OB-2 area is open along strike to the north and south and at depth.
Recall, high-grade gold mineralization in this area was discovered by the company in 2014. A small program of follow-up holes failed to establish continuity at the time, but these are now understood to have been oriented in the wrong direction.
CMM-195 also intersected a new zone of gold mineralization at depth with 2.26 g/ t over 126.5m in a new Footwall Zone discovery, which lies well outside and starts 50m below the 2015 modeled mineral resource and pit shell in an area of very sparse drilling, and is open in all directions.
The company expects to provide a resource update in Q3/17 and a Pre-Feasibility Study in Q4/17. Pre-stripping is expected to begin by year-end, with trial leaching of approximately 10-20 Mt of 0.3-0.4 g/t backfill material to follow.
The company is currently looking at financing the initial capital for the pre-stripping and dump leach (on the order of $15mm) via debt financing, or better alternatives if presented.
The company reported cash of $16mm (as at December 31).