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Rover Intends to Option Round Mountain Look Alike in Nevada

Streetwise Reports, Streetwise Reports
0 Comments| April 29, 2019

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Click to enlarge

The Round Mountain Gold Mine is on the west side of the Toquima caldera in south-central Nevada. What Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB) calls the Toquima precious metals property is on the other side of the caldera. On April 10 Rover announced a Letter of Intent to purchase all of the issued and outstanding shares of Centennial Mining, owner of the Toquima gold and silver project. Terms of the LOI call for Rover to issue 40 million shares for the purchase of a 100% interest in Centennial. The 40 million shares will be escrowed for a 12-month minimum period.

The intended purchase by Rover accomplishes two objectives. (1) it offsets other NWT projects held and advanced by Rover. The NWT projects cost more and are seasonal in nature and (2) the company wanted a U.S. based project in a mining friendly jurisdiction for potential American investors to complement its recent OTC listing.

Centennial Mining is a private subsidiary of North American Silver that has about 100 different investors. NAS drafted a 43-101 on the Toquima property in 2015 based on drill data from Echo Bay (the same exploration company that discovered Round Mountain) done in the 1980s. The draft NAS 43-101 showed 31 million tons of rock containing 29 million ounces of silver and 239,000 ounces of gold but Rover is using a far more conservative number of 9 million ounces originally reported by Echo Bay in 1988 as a historical resource. The NAS numbers suggest a lot of blue sky potential for the property.

The property is in a nest of five calderas in the area hosting 24 million ounces of gold and 89 million ounces of silver. Structurally the project is similar to nearby Round Mountain holding 16 million ounces of gold and 15 million ounces of silver.

The TSX halted Rover's stock and their shares are likely to remain halted for about six weeks in order for the TSX to complete their examination of the paperwork and to complete due diligence. Meanwhile Rover is in the midst of a minor $1.25 million private placement with a unit consisting of hard dollar shares at $0.06 with a full warrant at $0.12 for five years. I don't think I will surprise any potential investors by saying the Canadian capital markets remain weak for companies with a market cap below $10 million.

Rover is an advertiser and I like the company and the prospects a lot. Since I bought shares in the open market and am participating in the PP, naturally I am biased but with a market cap of just over $3 million, I just don't see a lot of risk. The company's Cabin Lake and Up Town Gold projects are surely worth that much.

Please do your own due diligence.

ROVR-V $0.065 (Apr 25, 2019)
ROVMF-OTCQB 47.4 million shares
Rover Metals Website.

Bob and Barb Moriarty brought to the Internet almost 16 years ago. They later added to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. My company has a financial relationship with the following companies mentioned in this article: Rover Metals is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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