St. James Gold Corp is a paying customer of this website. View the company’s profile here.
$LORD just saw some of its neighbours deliver promising results and decided to acquire 100% interest on all 29 claims for the Grub Line property and 33% interest on 28 claims for the Quinn Lake property.
It is my belief that St. James Gold wants too sell these properties to one of its neighbouring companies, among which NewFound Gold Corp.
They now own about 1/3rd of the assets of the Quinn Lake Property, and all of the assets on the Grub Line property. This will allow the company do accelerate its exploration program, and try to find some spill-over mineralisation from what its neighbours have been finding recently. It’s by far not a sure thing, but if that happens, it could be very beneficial to the company.
Now that the gold price has been rising and playing with the $2,000 price tag, an increase in M&A activity in the sector could be beneficial to companies holding smaller assets, like this one.
I plan on talking to St. James Gold Corp’s CEO soon, and asking him about their plans for their projects going forward.
Although I don’t own shares of this company, I am to be considered biased as St. James Gold Corp is a paying customer of this website.
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