Apparently the new company had sold the prior Bard Ventures' Lone Pine moly/silver/gold property a few months ago for $50K according to another poster here, although I haven't found this news on Sedar filings. In any case, the new management had announced after the company name change that they were looking for new properties without mentioning Lone Pine.
Not sure why the company didn't just form as a new start up instead of a name change for Bard and a new direction, since they weren't going to pursue Lone Pine but acquire new projects instead.
I'm sure many others besides myself are wondering about the share price rise from a couple dozen pennies up to multiple dollars, which added tens of millions of dollars to the market cap above cash raised I calculate, all during the time period when the new company didn't have any core project announced to the public, but only that they were looking for new gold projects.
The two Newfoundland properties acquired during that time have no current gold resources outlined, and didn't cost much to acquire in either cash or shares.
One can see that the share price rose pretty much nonstop until a core project was announced in April, then briefly remained flat, and since has gone down 75% to today's close before any new exploration results have been released.
Explanations for such an extreme price rise prior to the announcement of a core project? Strong promotion or heavy speculation on yet unknown properties during that time?