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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
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Post by retiredcfon May 30, 2017 10:29am
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Post# 26300067

TD

TD

NewCastle Gold Inc.

(NCA-T) C$0.93

102.7m of 2.76 g/t Outside Resource Shell Event

This morning, NewCastle reported results from four additional drill holes on the South Domes target on its permitted Castle Mountain Gold Project (100%) in San Bernardino County, California. The results included additional high-grade intercepts, which may form part of an emerging high-grade zone that is not currently part of our thesis.

Impact: POSITIVE

  • As a reminder, the South Domes target area is the focus of expansion drilling on the existing Resource as of December 2015. A Resource update is planned for September.

  • Since November 1, 2016, the company has drilled 25 RC and core holes totaling 9.2 km at South Domes. This is the second release from the South Domes area; another 11 holes have been completed and are awaiting assay results.

  • With recent results showing the potential for growth in a number of areas, a follow- up program has been started, focusing on the higher grade mineralization along the OB-2 sub-vertical structure, Footwall Zone outside the current pit limit, and open-ended South Domes area.

  • Highlights: 102.7m of 2.76 g/t in CMM-130C approximately 100m to the southeast and outside the previous 2015 Resource.

  • Two additional holes were also drilled a further 60m to the south on Section 10480N. Hole CMM-242C (3.36 g/t over 25.6m) and CMM-243C (2.03 g/t over 12.0m)

  • The new drilling continues to expand gold mineralization beyond the limits of the 2015 resource pit shell where it remains open along strike in all directions.

  • The company intends to provide a Resource update in September and a Pre- Feasibility Study in Q4/17. Pre-stripping is expected to start, with ROM leaching of backfill material in 2018.

  • 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 $10mm (as at March 31) 


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