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.

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Post by retiredcfon Jun 20, 2017 12:00pm

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Post# 26382781

TD

NewCastle Gold Inc.

(NCA-T) C$0.99

Backfill Drilling Returns 0.46 g/t over 155.4m Event

This morning, NewCastle reported results from sampling the upper portions of holes that cut through the backfill material in the JSLA pit at its permitted Castle Mountain Gold Project (100%) in San Bernardino County, California.

Impact: POSITIVE

As a reminder, the backfill material would need to be removed before accessing the existing in situ resources and is currently considered waste (forms part of the strip ratio) in its estimates.
With the completion of these 60 holes, the company is planning to include a "target potential" Resource for the backfill material along with supporting metallurgical test work at the same time as the company's Resource update in September.
According to the company, previous results suggest a potential inventory of 10 to 20 Mt grading approximately 0.35 g/t or 0.54 g/t at an elevated 0.20 g/t cut-off.
The highlights from this batch of results included 33.5m of 0.72 g/t in CMM-203 and 155.4m of 0.46 g/t in CMM-215.
Run-of-mine (ROM) metallurgical testing is ongoing via an independent consultant's laboratories in Denver, but prior tests have suggested recoveries of 50% to 65% are possible.
The company is permitted within an Area of Disturbance for production of up to 22 ktpd of ore and has discovered a potential water supply (see our Flash Note dated April 18) that may, together with its existing water wells, be sufficient to supply a first phase of production via dump leach in 2018.
On the larger project, 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 at 10 to 15 ktpd possible 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 equipment vendor debt financing, or better alternatives if presented.