Lode Gold Receives Tsxv Conditional Acceptance for Spinout Transaction and Sets a Shareholder Meeting Date to Approve Plan of Arrangement (Each Shareholder Will Receive Shares of Spin Co Gold Orogen)
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) has received TSXV conditional acceptance for a spinout transaction. The company will hold a shareholder meeting on March 10, 2025, to approve a tax-efficient plan of arrangement, with a record date of January 20, 2025.
Following completion, shareholders will receive shares in Gold Orogen, which will hold two key exploration assets: a 99.5 km² property in Yukon's Tombstone Gold Belt with four Reduced Intrusive Targets, and a 420 km² package in New Brunswick.
The parent company, Lode Gold, will retain the Fremont Gold project on the Mother Lode Belt, featuring a high-grade underground mine potential with a 2023 MRE of 1 Moz (M&I) + 2 Moz (Inf). The 2023 PEA shows an after-tax NPV (5%) of USD $370M, 31% IRR, and 11-year mine life at $2,000/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) ha ricevuto l'accettazione condizionata dalla TSXV per una transazione di spinout. La società terrà un'assemblea degli azionisti il 10 marzo 2025, per approvare un piano di riorganizzazione fiscalmente efficiente, con una data di registrazione del 20 gennaio 2025.
Una volta completata, gli azionisti riceveranno azioni in Gold Orogen, che possiederà due importanti risorse per l'esplorazione: una proprietà di 99,5 km² nella Tombstone Gold Belt dello Yukon con quattro Target Intrusivi Ridotti, e un pacchetto di 420 km² nel New Brunswick.
La società madre, Lode Gold, manterrà il progetto Fremont Gold nella Mother Lode Belt, che presenta un potenziale di miniera sotterranea ad alto grado con un MRE del 2023 di 1 Moz (M&I) + 2 Moz (Inf). L'PEA del 2023 mostra un NPV dopo le tasse (5%) di 370 milioni di dollari, un IRR del 31% e una vita mineraria di 11 anni a $2.000/oz d'oro.
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) ha recibido la aceptación condicional por parte de TSXV para una transacción de escisión. La empresa celebrará una reunión de accionistas el 10 de marzo de 2025, para aprobar un plan de arreglo fiscalmente eficiente, con una fecha de registro del 20 de enero de 2025.
Tras la finalización, los accionistas recibirán acciones de Gold Orogen, que poseerá dos activos clave de exploración: una propiedad de 99,5 km² en la Tombstone Gold Belt del Yukón con cuatro Objetivos Intrusivos Reducidos, y un paquete de 420 km² en New Brunswick.
La empresa matriz, Lode Gold, retendrá el proyecto Fremont Gold en la Mother Lode Belt, que presenta un alto potencial de mina subterránea con un MRE de 2023 de 1 Moz (M&I) + 2 Moz (Inf). El PEA 2023 muestra un NPV después de impuestos (5%) de 370 millones de USD, un IRR del 31% y una vida útil de la mina de 11 años a $2,000/oz de Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF)는 스핀아웃 거래에 대한 TSXV의 조건부 승인을 받았습니다. 이 회사는 2025년 3월 10일에 주주 총회를 열어 조세 효율적인 계획을 승인할 예정이며, 기준일은 2025년 1월 20일입니다.
완료 후, 주주들은 Gold Orogen의 주식을 받게 되며, 이 회사는 두 개의 주요 탐사 자산을 보유하게 됩니다: 유콘의 Tombstone Gold Belt에 있는 99.5 km² 규모의 부지와 네 개의 축소 침투 목표, 그리고 뉴브런즈윅에 있는 420 km² 규모의 패키지입니다.
모회사인 Lode Gold는 Mother Lode Belt에서 Fremont Gold 프로젝트를 유지하며, 2023년 MRE가 1 Moz (M&I) + 2 Moz (Inf)인 고품질 지하 광산 가능성을 보유하고 있습니다. 2023년 PEA는 세후 NPV (5%)가 3억 7천만 달러, 31% IRR, 그리고 온스당 2,000달러 기준으로 11년의 광산 수명을 보여줍니다.
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) a reçu l'acceptation conditionnelle de TSXV pour une transaction de scission. La société tiendra une assemblée des actionnaires le 10 mars 2025, pour approuver un plan d'aménagement fiscalement efficient, avec une date d'enregistrement du 20 janvier 2025.
Après la finalisation, les actionnaires recevront des actions de Gold Orogen, qui détiendra deux actifs clés d'exploration : une propriété de 99,5 km² dans la Tombstone Gold Belt du Yukon avec quatre cibles intrusives réduites, et un ensemble de 420 km² au Nouveau-Brunswick.
La société mère, Lode Gold, conservera le projet Fremont Gold dans la Mother Lode Belt, présentant un potentiel de mine souterraine de haute qualité avec un MRE 2023 de 1 Moz (M&I) + 2 Moz (Inf). Le PEA 2023 indique une VAN après impôt (5%) de 370 millions USD, un TRI de 31% et une durée de vie de mine de 11 ans à 2 000 USD/oz d'Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) hat die bedingte Zustimmung von TSXV für eine Spinout-Transaktion erhalten. Das Unternehmen wird am 10. März 2025 eine Aktionärsversammlung abhalten, um einen steuerlich effizienten Plan zur Neugestaltung zu genehmigen, mit einem Stichtag am 20. Januar 2025.
Nach Abschluss werden die Aktionäre Aktien von Gold Orogen erhalten, die über zwei wichtige Explorationsressourcen verfügen: ein 99,5 km² großes Grundstück im Tombstone Gold Belt im Yukon mit vier reduzierten intrusiven Zielen und ein 420 km² großes Paket in New Brunswick.
Das Mutterunternehmen, Lode Gold, behält das Fremont Goldprojekt im Mother Lode Belt, das über ein hohes Potenzial für einen unterirdischen Bergbaubetrieb verfügt, mit einem MRE von 2023 von 1 Moz (M&I) + 2 Moz (Inf). Die PEA 2023 zeigt einen Nettokapitalwert nach Steuern (5%) von 370 Millionen USD, 31% IRR und eine Lebensdauer der Mine von 11 Jahren bei 2.000 USD/oz Au.
- 2023 PEA demonstrates strong economics with after-tax NPV of USD $370M and 31% IRR
- Significant resource base with 1 Moz M&I and 2 Moz Inferred
- Strategic location with access to infrastructure (road, rail, power, water)
- Tight share structure with 60% owned by 4 shareholders
- Tax-efficient spinout structure benefits shareholders
- Project requires significant capital investment to transition from exploration to production
- Gold price sensitivity at $2,000/oz assumption in PEA may affect project economics
Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has received conditional acceptance from the TSXV for the spinout transaction. The record date is set for January 20, 2025. An information circular will be mailed to Shareholders on or before January 24, 2025, calling for a meeting on March 10, 2025, to approve the plan of arrangement for a tax-efficient spinout. On the completion of the transaction and following final court approval, Lode Gold shareholders will receive shares of Gold Orogen.
Upon completion of the spin-off, the Company will be structured as follows:
Gold Orogen (Spin Co.)
Gold Orogen is an exploration pure play with two choice assets. Both assets are located in highly prospective areas and each can potentially be a company maker and a standalone asset.
Asset 1:
- 99.5 km2 of claims in Yukon's prolific Tombstone Gold Belt (Snowline's Valley deposit, Seabridge's 3 Aces project, Stika Gold's RC deposit)
- Total of four Reduced Intrusive Targets (RIRGS similar to Snowline)
Confirmed on WIN:
- signature host rocks, hornfels and reduced intrusives
- high bismuth to gold ratio, gold-bearing sheeted quartz veins
Asset 2:
- New Brunswick: created one of the largest land packages at 420 km2
- Geological analogue to New Found Gold, Galway, Calibre Mining and Puma
- Confirmed gold endowment confirmed by initial drilling
- Acadian Gold JV formed and project-funded, captures the majority of the geological formation that hosts the Puma mineralization
Lode Gold (Parent): High Grade Underground Mine Potential (previously mined at 8gpt)
The Fremont Gold project is located on the Mother Lode Belt Lode Gold on patented private land in Mariposa County. Lode Gold is the first owner since mining suspension in 1942, to evaluate the project as an underground opportunity.
- On 190 km mineralized Mother Lode Belt: 50,000,000 oz produced
- Fremont: 4km strike on the Mother Lode Belt
- Private patented land: 3,351 acres,
100% owned in Mariposa County (five Supervisors oversee County*) *County: 17,000 and Town: 2000 people - California: 700 permitted mines; 14 gold mines
- Target: 2 Moz underground 5 g/t Au
- Typical Orogenic Deposit with Structure & Controls
- 3 Step-Out Holes hit structure (up to 1200 m)
- 2 nearby mines were 1800 m deep at 13 g/t
- Brownfield with 23 km of underground workings and over 43,000 m drilled (the cores are intact and preserved)
11% of the veins (2 of 7 deposits) exploited; mostly in the first 250 m- 2023 MRE: 1 Moz (M&I) + 2 Moz (Inf)
- 2023 PEA at USD
$2,000 /oz Au: After-tax NPV (5% ) USD$370M ,31% IRR, 11 years LOM - Close to road, rail, power, and water
- Mine was suspended in 1942 due to prohibition of gold mining during World War II
- 4 shareholders own
60% (~40,000,000 shares / tight structure)
About Lode Gold
Lode Gold is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.
In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27- km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 420 km2 and a 42km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 8 g/t Au in the 1940's.
Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only
The project is located in 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.
Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment ("PEA"). Project Valuation has an after-tax NPV (
All NI 43-101 technical reports are available on the Company's profile on SEDAR+ (www.sedarplus.ca) and the Company's website (www.lode-gold.com).
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
Cautionary Statement Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232575
FAQ
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