Gold projects: News soon
The Domain and Savant gold projects may prove to be very lucrative to Capella as both could translate soon in to a short term monetization of the assets.
We’ve discussed Domain but I believe Savant carries even better prospects: there's a lot of money to be made here!
Prospector Metals currently has the option to earn-in to a 70% interest in the Savant gold project in return for a combination of annual cash and share payments to Capella plus staged work commitments of $2,000,000 to be completed before November 15, 2024.
As at February 28, 2023, Prospector had completed expenditures of almost $ 1M. at Savant (representing appr. 45% of the total expenditure required to earn-in to a 70% interest). In order to meet the terms of the agreement PPP needs to spend another $500,000.00 before November 15, 2023 and supply Capella with a cash payment of $50,00.00 as well as 333,333 PPP shares. On or before Nov. 15, 2024 the aggregate amounts to a $200,000.00 paid to Capella in cash, 2,666,666 PPP shares and $2,000,000.00 work commitment on the property.
Prospector reported high-grade gold assays from the Wiggle Deformation Zone and their Wiggle Creek prospect contains a 1.3km strike of gold-bearing structure and remains open in all directions.
Then there is the Snowbird-Shoal Deformation Zone which also hosts numerous high-grade gold. Core drilling of priority gold targets is expected to begin within weeks.
The above paints a pretty picture for Capella: It appears that Prospector are keen on developing the projects and have so far been meeting their obligations with regards to the terms of the agreement.
PPP's interest in these projects also strengthens Capella’s financial position as under the terms of the agreement $CMIL are being paid in cash and shares. (and in the difficult current climate this isn’t something to be under estimated with many Juniors struggling...)
Prospector primarily focusses on gold and base metal projects in Ontario and it would only make sense if they acquire a 100% interest in Savant. With gold on a tear this could turn into a great deal for Capella!
Closing of the placement, Domain, Savant as other catalysts: Bring on the news Capella!!!
Holding with confidence,
HTG