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NuLegacy Gold Corp V.NUG

Alternate Symbol(s):  NULGF

NuLegacy Gold Corporation is a Canada-based exploration company focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property. The Red Hill is on trend/adjacent to three of Nevada Gold Mines' Carlin-type gold mines; the Pipeline, Cortez, and GoldrushII. Its Red Hill Property is located in the Cortez Gold Trend of north-central Nevada, United States (US). The Red Hill Property encompasses a total of 1,363 unpatented lode mining claims covering approximately 108 square kilometers (km2), of which 881 mining claims totaling approximately 68 km2 are owned, subject to certain underlying royalties, 100% by NuLegacy Gold Corporation and 482 claims comprising approximately 40 km2 are 100% controlled by NuLegacy pursuant to the Idaho Lease. Its Rift Anticline drill target (approximately 10 km2 within the 108 sq. km Red Hill property) has favorable Carlin-type gold system geology located within Nevada's Cortez gold complex.


TSXV:NUG - Post by User

Bullboard Posts
Post by BillSmith9on Apr 03, 2018 2:02pm
134 Views
Post# 27822317

I don't see this as likely, but interesting. A chess game?

I don't see this as likely, but interesting. A chess game?


In chess, you must plan several moves ahead.

Among his activities, New Director John Budreski is also a Director of Sandstorm Gold Ltd., which is just above the midpoint of its own 52 week range.

What does Sandstorm Gold do?
"Sandstorm Gold Ltd. provides financing for precious metal mining companies in the form of a 'gold streaming' transaction whereby an upfront cash payment is exchanged for a percentage of gold production from the mine."

I don't see a transaction with Sandstorm as imminent, but Budreski probably believes in streaming deals.  Eventually NUG needs cash, and Sandstorm has it.  I am not familiar whether Sandstorm typically gets involved at this stage. Also, I would think a streaming deal would tend to impede a buyout.  However the potential of a streaming deal might accelerate a buyout.

Current Directors are Insiders Albert Matter, James Anderson, and Roger Steininger.  Independent Directors are Alex Davidson, Alan Hill, Edward Cope, and now John Budreski.

Davidson was a Barrick EVP
Hill was also a Barrick EVP
Cope was a Barrick VP
Steninger's employer was acquired by Barrick
Oceana currently has no board members, but they are the largest shareholder at 16.2%.  Barrick owns 10.9%.
Bullboard Posts