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Golden Ridge Resources Ltd V.GLDN

Alternate Symbol(s):  GORIF

Metals & Mining Gold
Golden Ridge Resources Ltd. is a Canada-based exploration company engaged in acquiring and advancing mineral properties located in British Columbia and Newfoundland. The Company's projects include Hank Project and Williams Project. The Company owns a 100% interest in the approximately 1,700-hectare Hank copper-gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140 kilometers (km) north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland. The Company owns a 100% interest in the approximately 1,552-hectare Williams gold property, which is located approximately 45 km west of Gander, Newfoundland and Labrador.


TSXV:GLDN - Post by User

Golden Ridge Resources Ltd
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Comment by aliasunknownon Aug 20, 2018 3:26pm
71 Views
Post# 28488436

RE:RE:RE:Sellers perhaps realizing GLDN only has 49%

RE:RE:RE:Sellers perhaps realizing GLDN only has 49%From dmandman on ceo.ca..............
@dmandman From August 2, 2017 regarding the back-in of Barrick Gold (Lac) on the Hank property: "If a Mineral Resource (as such term is defined by NI 43-101) of at least 3 million ounces of contained gold (or gold equivalent), Lac has a back-in right (“Back-In Right”) to earn 51% of the Property by making a payment to Golden Ridge equal to two times the Golden Ridge expenditures on the Property and cancelling the 2% NSR. Upon Lac exercising the Back-In Right, the companies will then form a 51%/49% joint venture, with Lac as the operator." ---- Me: The nice thing is, after having received twice the expenditures back, GLDN will then have a financable path to production with no heavy debt equity dilution with Barrick as a partner taking them to production. And GLDN will receive first choice of some more nice properties to option from Barrick's stable of under-unexplored properties waiting for a successful geo team to take them over.
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