Abitibi|'Bullet'| Organoclay's Monty
VANCOUVER, Canada -- This just in from
Abitibi Royalties' Glenn Mullan and Ian Ball in Quebec and Ontario.
The two execs are explaining outsized gains in the owner of CHL Malartic, which sits adjacent to Canada's largest gold mine: Yamana Gold and Agnico-Eagle's
Canadian Malartic.
The two execs says this week's gains in Abitibi (RZZ in Canada) and sister company
Golden Valley Mines (GZZ) are underpinned by "operations developments by Canadian Malartic Corp. at the mine." That is inclusive of the mining of the area's
Gouldie Zone later this year. RZZ has a 2 percent royalty or net smelter return on the Eastern area of that deposit.
Earlier this week, news of joint-venture partner Yamana’s raising of fresh money also boosted the two tiny companies' outlooks in the eyes of investors.
Glenn Mullan, mid-50s founder of both RZZ and GZZ, says other recent corporate transactions involving Virginia-Osisko and Probe Mines-Goldcorp might make RZZ and GZZ more attractive as property holders in the region.
GZZ, or Golden Valley Mines, has interests in scores of properties along the Abitibi Greenstone Belt in and adjacent to the province of Quebec. GZZ owns 57 percent of RZZ. It also owns stakes in a nickel developer, Nunavik Nickel Mines (KZZ), and a uranium property, ticker VZZ.
"We are working diligently on Nunavik Nickel, and we expect to have at least modest progress there later this week as well," Mr. Mullan told
TCR. GZZ owns 70 percent of KZZ. Sounds actionable to me. Nunavik barely has its own
web site.
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Thom Calandra & TCR are researchers and investors. They are not registered investment advisers. The research and material they offer to subscribers are meant as editorial opinion.