Dundee reports outstanding Quarter Most notable was their great capital gains on their Reunion Gold investment which they acquired at 8 cents and stood for $0.65 when Reunion merged with Gmin....and a very nice spin out of Greenheart Gold
In terms of prospectivity ,Maritime's stands out as their best chance to repeat their reunion gold success along with several spin out options..
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ORIGINAL: Dundee Corporation Executes on Key Strategic Initiatives and Announces Q3 Profit
2024-11-13 18:10 ET - News Release
TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- “Dundee is pleased to announce a strong and transformative quarter, marked by broad positive performance in our core investment portfolio and key initiatives that further align our capital structure with our long-term growth objectives." said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “During the quarter, we sold 11 million shares of our position in G Mining Ventures Corp. for proceeds of $95.9 million, which was partially used to redeem both classes of our preferred shares and substantially pay down our outstanding loan balance. The redemption of the preferred shares is a significant milestone, enhancing our financial flexibility and positioning the company for continued, sustainable growth for the long-term. In addition, we backstopped an $8.0 million rights offering for Maritime Resources Corp. to support the company’s strategic plan to substantially derisk the restart of the Hammerdown Mine and, in the process, increased our ownership interest in the company to 43% on an undiluted basis. Furthermore, we have continued to make progress on divesting our non-core assets with the sale of our flow-through funds. This will further streamline our operations and, importantly, allow us to place even greater focus on executing our core strategy."
“Our success in the current quarter underscores the strength of our core strategy, driven by strong investment performance amidst record gold prices and continued progress on cost reduction efforts. We foresee numerous opportunities on the horizon, as the market, in our opinion, continues to undervalue companies engaged in the discovery and development of high-quality precious metals, as well as base metals and strategic resources. We see a compelling value proposition in the disconnect between metals prices and mining stocks. Given the opportunity set we are seeing, while we have more ideas than capital, we remain very focused on our core asset base. We are committed to long-term investments in high-quality projects, acting as advisors and partners to our investee companies to maximize asset value and achieve their full potential.”
Mr. Goodman concluded: “The entire team at Dundee continues to work diligently to implement and execute our strategy across all fronts. I am encouraged by our ability to sustain and grow our momentum in 2024 as we look forward to the opportunities ahead of us. Our team remains committed to growing the core business, and positioning Dundee to deliver long-term, sustainable value for our stakeholders, shareholders and partners. I would like to thank the entire team for their hard work in navigating a time of continued evolution.”