2020-07-06 21:21 ET – In the News
The International Speculator, in its June 24, 2020, issue, says buy Renaissance Gold Inc. at 38 cents, officially, Buy up to 40 cents. The newsletter said buy nine times between June 6, 2012, and Dec. 20, 2019, at prices ranging from 18 cents to 77 cents. Assuming an investment of $1,000 for each of the nine buys, the $9,000 holding is worth $11,270. The writer says that there have been a couple of big items for Renaissance over the last few weeks. First, the company was notified by partner AngloGold Ashanti of its intent to complete its option on the Silicon project in Nevada. That means the major miner will pay Renaissance $2.4-million — substantially strengthening the company’s cash reserves. The writer believes this also confirms rumours that AngloGold is onto a major gold discovery at Silicon: The major would only pay the $2.4-million if it felt the project was looking good. Renaissance keeps a 1-per-cent royalty on Silicon. Royalties like this, on promising projects, are becoming increasingly valuable in today’s markets. Then, on June 10, Renaissance and Evrim Resources Corp. unveiled a plan to merge on a somewhat dilutive 50:50 basis. The resulting stronger company will be renamed Orogen Royalties Inc.
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