USGD's Transformative Development Marking a transformative development, American Pacific Mining (USGD.c or USGDF) gained 100% ownership of the Palmer Project, a 14-million-tonne volcanogenic massive sulfide (VMS) deposit in Alaska, through a non-dilutive transaction.
USGD exchanged an option on 50% of the zinc concentrate with its former partner, Dowa, while receiving $10M USD (~$14M CAD), boosting its cash reserves to $16M.
CEO Warwick Smith emphasized the move's strategic significance in solidifying the company’s financial position, enabling enhanced exploration of Palmer’s resource potential, which could expand significantly beyond its current 14Mt VMS resource.
Notably, USGD has made remarkable progress in 2024, starting the year with $3M in cash and partial ownership of its flagship assets, Palmer and Madison.
Now, with $16M in cash and full ownership of both projects, it has achieved this growth with minimal share dilution and significant shareholder value created with further developments to come.
For more information, refer to this deep dive:
https://www.reddit.com/r/wallstreetsmallcaps/comments/1haor11/analyst_peter_grandich_hosts_american_pacific/ Posted on Behalf of American Pacific Mining Corp.