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Allegiant Gold Ltd. (AUAU.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.1950+0.0300 (+18.18%)
At close: 10:15AM EDT

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  • R
    RJ
    Strategic Investment. This is the reason they halted at companies request.
    Allegiant Gold Announces a C$4.0 Million Strategic Investment by Kinross Gold
    Corporation for Exploration at the Eastside Property

    RENO, Nev., March 14, 2022 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd.
    (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to
    announce a C$4,014,404 financing and strategic investment by Kinross Gold
    Corporation (“Kinross”) (NYSE: KGC, TSX: K) which will accelerate the
    exploration and development activities at the Eastside property in Nevada. On
    closing Kinross will own 9.9% of the then issued shares of Allegiant.

    Kinross operates the Round Mountain gold mine, located across the valley from
    Allegiant’s Eastside project. Round Mountain is one of the largest open pit
    gold mines in the United States.

    Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to have
    Kinross as a strategic partner, given their experience and prominent presence
    in Nevada, and the relative close proximity of their flagship Round Mountain
    Mine, which shares many similar geological characteristics to Eastside.
    Allegiant and Kinross have developed an excellent rapport over the years, and
    we look forward to a productive and collaborative working relationship with
    them.”

    Kinross has entered into a $4,014,414 subscription agreement with Allegiant to
    acquire 10,036,034 units (the “Units”) in a non-brokered private placement at
    C$0.40 per Unit with each Unit consisting of one common share of the Company
    (a “Common Share”) and one-half of one Common Share purchase warrant (each
    whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase
    one Common Share at a price of $0.70 exercisable over two years following the
    closing date, subject to customary adjustments.

    The strategic investment by Kinross calls for the formation of a four-person
    Technical Advisory Committee comprised of two members from each company. The
    Technical Advisory Committee will provide advice and guidance on the upcoming
    core-drilling program at the high-grade zone (“HGZ”) within the Original Pit
    Zone at Eastside. Allegiant has agreed to allocate no less than 80% of the
    investment by Kinross to a work program specifically designed for the HGZ.

    In connection with the transaction, Allegiant and Kinross will enter into an
    investor rights agreement providing each party with customary rights,
    including the grant of standard anti-dilution and equity participation rights
    to Kinross. The transaction is subject to certain conditions including, but
    not limited to, acceptance by the TSX Venture Exchange and is expected to
    close on or about March 18, 2022.

    Allegiant has engaged Cormark Securities Inc. as its financial advisor and
    Stikeman Elliott LLP as its legal advisor in connection with the strategic
    investment by Kinross.
  • A
    A
    This company seems to be trading on the basis of $20 per oz. of the gold it has reported in the eastside 43-101, everything else is free, including, cash, the 3rd party stock shares it holds, and all of its land holdings, etc.
    This means that upcoming drill results from the Eastside property, if very positive, have the ability to move the share price significantly, but other than that, I am not aware of any triggering event that can move the needle.

    One cause for concern is that SG&A expenses appear to be extraordinarily high for a company of its size.

    I think this is a good speculation up to the announcement of the eastside drill program, but those results need to be uncommonly positive in order to make it worth holding the shares.
  • S
    Steve
    Newbie to the mining stocks sector, but it seems like the recent posted news should boost the share prices shouldn't it?
  • S
    Steve
    Speculation on what the news is that prompted the trading halt this morning?
  • J
    Jeffrey
    Orea mining OREAF owns approximately 20% of Allegiant
  • a
    arash
    So yahoo is predicting a 0.75 price for this. Wondering how much you guys are thinking ?
  • R
    Rick
    Another 40,000 shares bought by an insider today at $0.49. Speaks volumes.
  • A
    A
    Hey, Bravo Allegiant. The great thing about owning shares in a company that flies beneath the radar is that there isn't a lot of speculative fluff built into the share price.
    It is fantastic that the share price is only off 8 percent today with gold off nearly 5%.

    Great time to pick up some physical gold, I think....not so sure about the silver though.
  • A
    A
    New Placer Dome today announced promising results from five recent RC holes in their BOLO prospect. Three of them were blanks but two of them, one in particular, showed well. Very promising. The company awaits further results.
  • F
    ForReal?
    Did they halt because Tom, long time holder, has liquidated his position ? Or is AuAu IR team declaring in a NR that they will respond to his emails next time ?
  • A
    A
    Well, I guess we knew it had to happen....now glad I chose to stand pat on my holdings rather than add to them after the great drill results.
    If I am correct and gold retreats a bit from here, I expect allegiant's share price to get hammered after this....will it be a buying oppty?
  • R
    Rick
    Check the insider trading! Another 10,000 bought at $0.48. That simply doesn’t happen buying at a peak, great results coming soon can be the only conclusion.
  • S
    Steve
    Unfortunately work got in the way of my tuning into the meeting, anything interesting?
  • A
    A
    Eagerly awaiting drill results; although, will have to be pretty spectacular to wake up the share price of this company.
    Lot's of junior miners are sitting on one million ounce low-grade, in the ground, resources. Need a couple few million more to gain traction.
    Announce 2-3 gram per ton results and this is another story.
  • S
    Shayne
    low trading volumes as of late, sad to see
  • I
    Igor
    Was nice of day to going up. Doesnt see any news but still happy with that
  • D
    David
    Ticker was halted 20 min ago ..
  • C
    Carl
    What’s everyone thinking about this one?
  • T
    Tom
    IMO a big gift! Like my previous comment when I said anything under $.30 is a gift. This will hit the $.50-$.60 range in the 4th quarter. If you compare to it's industry peers, undervalued. Here is why:
    Nevada is arguably the best venue for gold exploration and mining in the world (Mercenary Musing, January 28, 2019).
    Allegiant retains the most successful exploration team in the 55-year history of modern gold mining in Nevada. Led by Vice-President of Exploration and Director Andy Wallace, these experienced geologists come from the renowned Cordex Syndicate.
    The company is cash flow positive with respect to its annual general and administrative and landholding expenses. All funds raised go into the ground for exploration.
    Drilling has commenced to increase oxide, open-pit, gold-silver resources at the company’s flagship Eastside project near Tonopah.
    AUAU’s partners are currently or will soon be drilling three farmed-out projects.
    Recent abnormally high trading volumes at higher prices have likely washed-out many weak hands and stock flippers.
    The company’s CEO and a Director have continued to buy stock in the open market over the summer.
    Allegiant has initiated a new marketing campaign focused on the USA with additional newsletter coverage and meetings with more than 20 brokerage and financial firms scheduled this week.

    Personally, I like the risk reward on Allegiant!