Nov 11 stockwatch.com Anthony Moreau's American Eagle Gold Corp. (AE) leapt 10 cents to 92 cents on 1.15 million shares on word it has arranged to sell 33.32 million shares at 87.5 cents apiece to Australia-based South32 Ltd. The placement, which adds $29.16-million to American Eagle's treasury, is being completed at a 15-per-cent premium to American Eagle's recent trading range, which accounts for the market's pleasant reaction to the news of more dilution. (American Eagle ran to an intraday high of 94 cents in late afternoon trading.)
Mr. Moreau, American Eagle's CEO, says that he and his crew are "very pleased to welcome South32 as a strategic investor." This investment, he enthuses, "marks our second major mining enterprise that has endorsed our project and our work at the NAK copper-gold porphyry project" in central British Columbia. While Mr. Moreau did not directly name the other enterprise, enterprising investors will recall that in the spring of 2023, Teck Resources Ltd. (TECK.A: $66.57) plunked nearly $2-million into American Eagle, procuring stock at 13 cents per share. (That sale gave Teck the right to maintain its interest in American Eagle, so American's current placement may grow in size.)
American Eagle will use the cash to push ahead with its NAK project. Moreau says that his company will use the new cash "to build on the successes of its 2024 drill program, which expanded NAK's scale and identified additional high-grade zones" at the project. With $37-million in the bank, Mr. Moreau applauds that the company will be able to "thoroughly test our thesis" for NAK through a comprehensive drill program designed to test the full extent of the system, including the perimeter of the porphyry stock. "We believe NAK has the potential for a large-scale resource with near-surface potential, favourable topography and excellent infrastructure access," Mr. Moreau gushed his way to a conclusion.
| AE - V | 59.5 | 0.90 | · | 0.92 | 1.5 | 0.92 | +0.10 | 12.2 | 1,149.3 | 992 | 458 | 0.86 0.94 0.85 | 0.94 0.185 | 15:59:59 | 10:01 | 15 min RT 2 |
| House Positions for C:AE from 20241111 to 20241111 |
| 59 Ventum | 74,000 | 68,160 | 0.921 | 0 | | 74,000 | -68,160 |
| 9 BMO Nesbitt | 60,398 | 52,052 | 0.862 | 5,000 | 4,650 | 0.93 | 55,398 | -47,402 |
| 79 CIBC | 180,236 | 161,783 | 0.898 | 131,364 | 114,944 | 0.875 | 48,872 | -46,839 |
| 83 Research Cap | 36,000 | 30,960 | 0.86 | 0 | | 36,000 | -30,960 |
| 19 Desjardins | 41,999 | 36,887 | 0.878 | 10,632 | 9,712 | 0.913 | 31,367 | -27,175 |
| 88 Credential | 20,000 | 17,385 | 0.869 | 4,890 | 4,401 | 0.90 | 15,110 | -12,984 |
| 89 Raymond James | 14,125 | 12,388 | 0.877 | 0 | | 14,125 | -12,388 |
| 124 Questrade | 23,650 | 20,748 | 0.877 | 12,000 | 10,560 | 0.88 | 11,650 | -10,188 |
| 14 Virtu ITG | 12,140 | 10,673 | 0.879 | 1,240 | 1,098 | 0.885 | 10,900 | -9,575 |
| 2 RBC | 101,713 | 88,222 | 0.867 | 93,509 | 82,598 | 0.883 | 8,204 | -5,624 |
| 39 Merrill Lynch | 23,000 | 20,430 | 0.888 | 21,500 | 19,430 | 0.904 | 1,500 | -1,000 |
| 53 Morgan Stanley | 242 | 220 | 0.909 | 0 | | 242 | -220 |
| 28 CI | 5 | 4 | 0.80 | 0 | | 5 | -4 |
| 36 Latimer | 2,064 | 1,798 | 0.871 | 2,199 | 1,929 | 0.877 | -135 | 131 |
| 22 Fidelity | 0 | | 1,500 | 1,290 | 0.86 | -1,500 | 1,290 |
| 57 Interactive | 5,520 | 4,817 | 0.873 | 8,015 | 7,198 | 0.898 | -2,495 | 2,381 |
| 33 Canaccord | 92,000 | 79,800 | 0.867 | 97,500 | 87,055 | 0.893 | -5,500 | 7,255 |
| 85 Scotia | 39,000 | 34,885 | 0.894 | 64,800 | 56,186 | 0.867 | -25,800 | 21,301 |
| 7 TD Sec | 82,789 | 72,229 | 0.872 | 110,980 | 99,819 | 0.899 | -28,191 | 27,590 |
| 13 Instinet | 4,500 | 4,105 | 0.912 | 51,000 | 44,550 | 0.874 | -46,500 | 40,445 |
| 80 National Bank | 29,759 | 26,404 | 0.887 | 107,716 | 95,591 | 0.887 | -77,957 | 69,187 |
| 1 Anonymous | 306,132 | 268,947 | 0.879 | 425,427 | 371,892 | 0.874 | -119,295 | 102,945 |
| TOTAL | 1,149,272 | 1,012,897 | 0.881 | 1,149,272 | 1,012,903 | 0.881 | 0 | 6 |