TomaGold
Corporation (TSXV: LOT,
OTC:
TOGOF)
FOLLOW
TOMAGOLD AND REGISTER HERE
A
recent report by Goldman Sachs spoke to the start of a
commodity
super cycle and without
going into the current discussion of gold vs crypto let me just
remind people that you cannot crypto "mine" unless you have the
commodity; particularly
metals from
mining that create NVidia
video cards,
electricity for power and the building or coolant to keep these
energy intensive pursuits going. You do not have crypto without
real mining and before we get carried away on what the future holds
lets deal with the reality of that necessity.
We need resources and there is a
company in the right location, with the smart
investors,
great
trading
volumes and activity that is positioned to make a strong move in
2021. Tomagold
has hit most
of the checkboxes to position itself for success with
the right
commodity in gold, excellent
strategic partnerships, impressive
trading
volume, outstanding regions to be
working in and exciting drill targets.
Watch video
interview with the CEO of Tomagold - Click Here
2021 looks
good for Tomagold.
Tomagold
is
known for acquisition, assessment, exploration and development of
gold mineral properties. The
company has interests
in five gold properties near the Chibougamau mining camp in
northern Quebec: Obalski,
Monster Lake East, Monster Lake West, Hazeur
and Lac
Doda
and
a
joint venture with Evolution Mining Ltd and New Gold Inc., through
which it holds a 24.5% interest in the Baird property, near the Red
Lake mining camp in Ontario.
The
last
6
months has been a
flurry of activity as the company canceled a proposed spinout back
in August as gold
continued its strength and the value of their assets increased.
More opportunities presented themselves and Tomagold
have
been nimble enough
to pivot and complete several transactions, strategic board and
advisory member changes with
focus on
its Obalski
Project.
The company
has drawn
attention and
60
million shares have traded hands over the past half year. That
illustrates the strong interest in the new vision of the new team
as we enter this
commodity
super cycle.
Six
Projects
Baird
Property
The Baird
property is a joint venture with Evolution
Mining and New Gold Inc. in the central Red Lake gold
belt six kilometres north of the Madsen Mine and fourteen
kilometres southwest of the Goldcorp Red Lake
Mine. TomaGold holds a 24.5% interest in the
property, with New Gold Inc. holding a 24.5% interest and
Evolution Mining as operator, owning the
remaining 51% interest. The nearly 8 billion market
cap Evolution Mining purchased the entire
Red Lake District from Goldcorp back in 2019.
Having such an impressive partner is this region provides blue
sky potential for
TomaGold.
Chibougamau
mining camp in northern Quebec.
Tomagold
has five projects
in this mining camp: Lac Doda, Monster Lake East &
West, Hazeur and the flagship
Obalski
Property. Let us
consider this chronologically:
July
9th
Tomagold
signing of an
option agreement (the "Agreement") for the sale of up to an 80%
interest in the Lac Doda Property
to Goliath
Resources Limited (TSXV: GOT) ("Goliath"). The Lac
Doda
Property consists
of 80 mining claims covering 4,478 hectares and is located
approximately 20 km southwest of the Monster Lake property in the
Chibougamau mining camp in Quebec.
625,000 common
shares and 625,000 warrants, each warrant entitling the holder to
acquire one common share of Goliath at a price of $0.24 over a
36-month period. Today GOT.V is trading at $0.45 which is almost a
100% gain in 6 months on this transaction. If you are curious about
Goliath Resources and its potential,
please look at
the following:
Goliath and
Goliath News.
Sept
17 Last
month it closed a deal to sell its 25% undivided interest in the
Monster Lake project and the related mineral rights to IAMGOLD
(TSX: IMG, NYSE: IAG). It received $500,000 and was issued 1,464,377
common shares of IMG. At a $4.59 price for IMG, the current market
value of this deal is $7.2 million.
Obalski Property
On
December
8th,
2020 Tomagold announced of a seven-hole, 2,500-metre
drilling program on its flagship Obalski project. The company owns a 100%
stake in this 345-hectare
property, a
former gold-copper producer that hosts seven currently known
mineralized zones. It's 2 km south of Chibougamau, Quebec, in the
heart of the Chibougamau mining camp. It produced 100,273 tonnes
at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag between 1964 to
1972 and around 9,000 tonnes at a reported grade of 8.5 g/t Au in
1984.
Management
With strong partnerships and
new board and team members breathing life into an exciting
commodity cycle, the company is best
considered as a fresh and new project. President and CEO David
Grondin has had one heck of a tie in the past 2 years assembling,
creating and dealing Tomagold into a strong position
with
great potential
for success. The news release from October
6, 2020 details the capital markets, geological technical acumen
and current success in the mining sector. There are far too many
wonderful additions,
but my
subscribers will recognize Victor Cantore, President and CEO of
Amex Exploration on the Advisory Board.
"With
the Monster Lake transaction, our stronger financial position and
our promising gold projects in the Chibougamau and Red Lake mining
camps, it was time to better align our corporate structure with our
new stated objective of becoming a premier Canadian gold mining
company,"
said David Grondin, President and Chief Executive Officer of
TomaGold.
Capital Structure and Stock
Tomagold
has roughly
140
million shares out with 11.3 million stock options
out. This is a
decent amount of stock out, but the past 6 months
has
shown a big turnover of old investors for new. This bodes well not
only for liquidity but in the continued strength in the mining
sector.
One final
comment: back in January 2020 TomaGold sold its 39.5% interest in
Sidace
Lake property
to Pacton Gold Inc. (TSXV: PAC, OTC:
PACXF) for $250,000 and issue 10,000,000
common shares to TomaGold. There are details to this
transaction which did complete back on April 30, 2020 but if you
look at Pacton Gold the company is doing
exceptionally well.
This is a strong
consideration. Great mining friendly locations, looking for gold
which will continue to shine and attract many with its stability in
chaotic times. I am looking forward to what the new team and new
vision brings to TomaGold.
Watch video
interview with the CEO of Tomagold - Click Here
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Securities
Disclosure: I, Andrew O'Donnell have stock and have been paid
for this article.
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