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Lode Gold Resources Inc. (SBMIF) is a Canadian exploration and development company with projects in Yukon and New Brunswick. The company, formerly known as Stratabound Minerals Corp., closed a shares-for-debt transaction and is planning to spin off its Canadian assets into a new public vehicle. Led by CEO Wendy T. Chan and VP Exploration Buddy Doyle, Lode Gold focuses on high-grade gold mineralization in safe mining jurisdictions. The McIntyre Brook Project in New Brunswick, surrounded by Puma Exploration's Williams Brook Project, shows promising results. With strategic plans for growth and restructuring, including non-brokered financings and loan repayments, Lode Gold aims to unlock shareholder value and advance its exploration programs.
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Lode Gold Resources Inc. has retained Carlos Saban, an experienced geologist, to review the Fremont Gold Project for potential high-grade underground gold mining. Since acquiring Fremont in 2021, Lode Gold has significantly increased its resource estimates. The Project currently hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated, and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM at a sensitivity to USD $2,000/oz gold. The project's depth potential remains largely untapped, with opportunities existing below 200 meters. The historical grade of 8 g/t Au and the presence of structurally controlled high-grade targets indicate significant upside potential.
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Lode Gold Resources Corp. (SBMIF) expands its ownership in McIntyre Brook Project by acquiring two more claims covering 13.96 km2. The company also makes second-year option payments on seven agreements, totaling $209,000, partly in cash and partly in shares.
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Lode Gold Resources Inc. (SBMIF) successfully closed a non-brokered private placement, raising $2,079,624.20 through the issuance of 83,184,968 units. The offering included common shares and warrants, with insiders subscribing for 44,516,100 common shares. The funds will be used for exploration activities in New Brunswick, Yukon, and California. The company's strategic turnaround plan has been well received, leading to a successful financing exceeding the initial target.
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Lode Gold Resources Corp. (SBMIF) receives an expression of interest for asset acquisition, emphasizing the potential value of its Yukon and New Brunswick properties. CEO Wendy T. Chan highlights the strategic plan to unlock shareholder value through asset separation and team development. VP Exploration Buddy Doyle mentions the market cap of $30 million for the properties, indicating the potential for value appreciation with upcoming drill plans and funding support.
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Lode Gold Minerals Corp. (SBMIF) successfully closes the first tranche of its non-brokered private placement, raising $1,422,902.50. Insiders subscribed for 44,516,100 common shares. The company receives an extension to complete the financing by March 15, 2024, with proceeds allocated to various exploration projects.
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Lode Gold Minerals Corp. (SBMIF) successfully closes the first tranche of its non-brokered financing, receiving full participation from board members and management, generating $1,432,652.50 in proceeds. The financing comprises 57,306,100 units at $0.025 per unit, each including a common share and a warrant. The company may accelerate warrant expiry if shares trade at $0.30 for 10 days. The financing is subject to TSXV final approval, with a statutory hold period of four months. Key executives express confidence in the new management team and the company's 2024 plans.
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Lode Gold Minerals Corp. (SBMIF) receives an extension to complete a non-brokered financing of up to $1.5 million, with the Board of Directors participating, subject to TSXV approval.
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Lode Gold Minerals Corp. (SBMIF) appoints Carlos Saban to its Technical Advisory Board to advance the Fremont Gold project in California. Saban's expertise in geological exploration and mineralization systems will help identify new targets at Fremont, with a focus on high-grade ounces. The company also granted a total of 8,333,364 incentive stock options to directors, management, an advisor, and a consultant, each entitling the holder to subscribe for one common share of Lode Gold for $0.05 for a period of 5 years.
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Lode Gold Resources Inc. provides an update on its McIntyre Gold project in the under-explored, world-class 'Appalachian Gold Corridor' ('AGC'). The AGC contains over 20 M ounces of gold resources, and Lode Gold's McIntrye Brook project occupies 17km strike within the prospective Dunnage Gander Terrane, 80 km west of Bathurst, New Brunswick. The company plans to continue and enhance this work as it plans the upcoming exploration season, which will culminate in drilling. The project shares geology with Puma Exploration, and the company aims to unlock the intrinsic value of its three key assets in California, Yukon, and New Brunswick.
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Stratabound Minerals Corp. (SBMIF) has changed its name to Lode Gold Resources Inc. as part of its growth and restructuring plans. The company is considering spinning out its orogenic exploration gold assets into a new company, Gold Orogen. The trading symbol will change to 'LOD' on January 23, 2024. Shareholders do not need to take any action, and their issued certificates will not be affected by the name change.
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FAQ
What is the current stock price of LODE GOLD RESOURCES (SBMIF)?
The current stock price of LODE GOLD RESOURCES (SBMIF) is $0.0159 as of November 26, 2024.
What is the market cap of LODE GOLD RESOURCES (SBMIF)?
The market cap of LODE GOLD RESOURCES (SBMIF) is approximately 5.3M.
What is Lode Gold Resources Inc.?
Lode Gold Resources Inc. is a Canadian exploration and development company with projects in Yukon and New Brunswick, focusing on high-grade gold mineralization.
Who leads Lode Gold Resources Inc.?
Lode Gold Resources Inc. is led by CEO Wendy T. Chan and VP Exploration Buddy Doyle.
What are the strategic plans of Lode Gold Resources Inc.?
Lode Gold Resources Inc. has strategic plans for growth and restructuring, including non-brokered financings and loan repayments to unlock shareholder value and advance exploration programs.
What is the McIntyre Brook Project?
The McIntyre Brook Project in New Brunswick is a key focus area for Lode Gold Resources Inc., surrounded by Puma Exploration's Williams Brook Project, showing promising results in high-grade gold mineralization.
What recent transactions has Lode Gold Resources Inc. completed?
Lode Gold Resources Inc. closed a shares-for-debt transaction and plans to spin off its Canadian assets into a new public vehicle.
LODE GOLD RESOURCES INC
OTC:SBMIF
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27.54M
27.56%
18.76%
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