RCKS Talk

28-Jun-2018

NxGold Ltd.

Strike Extended and Fine Gold Identified at Mt. Roe

Impact: Positive

NxGold has completed its first trenches at the Mt. Roe project in the Pilbara of Western Australia with the objective of evaluating the target conglomerate horizon. The company has also completed first pass exploration at its Prinsep project, ~12km north of Mt. Roe.

  • Trenching along 7km of prospective strike length looks encouraging
  • Gold nuggets discovered at Prinsep project
  • With a completed C$4.3M financing, the company is well-funded to execute on its business plans
We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

22-May-2018

NxGold Ltd.

Strike Extended and Fine Gold Identified at Mt. Roe

Impact: Positive

 

Initial mapping at NxGold’s Mt. Roe project has highlighted its exploration potential and therefore given the recent success at the Pilbara assets, the company has decided to withdraw from Chicobi to focus on the Mt. Roe project in addition to its Kuulu project in Nunavut.
  • Mapping increases strike by 75% to 7km, identifies near surface fine gold
  • Upcoming exploration key to understanding geology of project
  • Promising results shifts’ focus to Mt Roe & Kuulu with withdrawal from Chicobi
Shares of the company increased ~61% on Tuesday following the news, further supporting our view that a re-rating is possible as the company’s now C$16M market cap does not fully account for both Mt. Roe and Kuulu in NX’s valuation. We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

24-Apr-2018

NxGold Ltd.

First Steps at Mt. Roe Look Good; Project on the Right Track

Impact: Mildly Positive

NxGold has discovered more gold nuggets and provided an update on its maiden mapping program at its Mt. Roe Gold Project in the Pilbara, which is adjacent to properties held by Novo Resources (TSX:NVO) and Artemis Resources (ASX:ARV).

  • First steps look good, company remains on the right track
  • More nuggets discovered by management along Mt. Roe conglomerate contact zone
  • The second style of nuggets identified at Mt. Roe is interesting
The current market cap, could be ascribed to one of the company’s projects (Mt. Roe, Chicobi, and Kuulu), but not all three, suggesting room for re-rating as each of them progresses. We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

 

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