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Harte Gold Corp. HRTFF

Harte Gold Corp is engaged in the acquisition and exploration of mineral resource properties. It is focused on gold properties located in the province of Ontario, Canada. The company's exploration projects consist of sugar zone property and Stoughton Abitibi property. The Sugar Zone Property is located approximately 80 kilometers east of the Hemlo gold camp on the north shore of Lake Superior. It includes approximately 4 mining leases and 336 unpatented mining claims. In addition, it also consists of approximately 29,435 hectares within the Sault Ste. The Stoughton Abitibi property is located approximately 110 kilometers east of Timmins and 50 kilometers northeast of Kirkland Lake.


EXPM:HRTFF - Post by User

Post by coolandniceon Feb 01, 2021 5:32pm
325 Views
Post# 32440559

Appian is not dumb

Appian is not dumbI spent the past couple hours assembling the history of Appian's stock purchases.    They now own 25% of Harte and are much more underwater than me.   Yet their % ownership has increased over time and their July investment gives them 13.5c warrants that only expire in 2025:

Q4 2016   Appian buys 33m shares at 30c and increases ownership to 16.5%.
Q3 2017    Appian buys about 9M shares at 47c and ownership increases to 20%
Q4 2017   Appian acquires 20m shares at 62c and maintains ownership percentage
Q2 2019   Appian's $10M investment is converted to shares at 27c.   The June 2019 News release states Appian's ownership in Harte cannot exceed 30% until 18 months after this closing.   This restriction should be gone as of Jan 2021 which means don't be surprised if Appian will take a bigger slice of the pie when a new deal to push out 2021 and 2022 debt payments is announced.
Q1 2020   Appian increases investment to 25% share which means they purchased another 42M shares at 16 cents.

According to the Jan 2021 presentation Appian owns 25% of harte and based on the data above they're far more underwater than I am.   It's in their interest to see this company succeeed and thrive.  Patience will pay.

Two other points that point to a bright future for Harte (assuming Operations continue improving and Gold doesn't fall below $1600/oz):
1)  Appian bought a 1.5% nSR in Dec 2019 for $7.5M which suggests the property is valued at $500M.    They bought another 0.5% NSR in Sept 2020 for another $2.5M.
2)  Harte's value really hasn't changed much since 2016.    In Q4 2016 there were 533M shares and the price was 26c = 139M market cap.    In Q3 2020 there were 968M shares and the price was 16c = 154M market cap.
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