RE:Interesting development.. GT Gold arranges $17.6M financing Fabe wrote: With Newmont-Goldcorp... https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aGTT-2756431&symbol=GTT®ion=C
The money will be used to develop the Saddle North target primarily. At the same time you have Colorado merging with Buckingham Copper. Buckingham owns the Moat property, about 2000 meters from Saddle. Colorado owns Kinascan-Castle, about 4,000 meters from Saddle. Buckingham management will run the combined company and provide $1.5 million to drill the Castle target later this year if the deal goes through. The combined company also owns the ROK property on the other side of GT Gold which has 1.2 million oz. Au in the Inferred category.
The Newmont Goldcorp and Colorado investments are interesting in that they were announced within a day of each other and are so close geographically.
This is another significant investment by a major in the GT, and close to the Newcrest purchase of Red Chris for $800 million.