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 Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Proposes a Stock Repurchase Program
Hunt Gold Corporation announced today that it intends to implement a stock repurchase and cancellation program. The stock buyback program would be funded through a loan secured against part of the proceeds of the sale of its “Lookout Silver” interests. The company promised to inform investors of the details of this program.
Hunt Gold believes the stock market has massively undervalued the company at this time and that a significant reduction in the amount of outstanding shares of its Common Stock will do much to rectify this huge discount.
In the press release, the company reaffirmed that proceeds from the sale of the “Lookout Silver” Mine package were in the amount of US$65 million. Hunt Gold anticipates receiving the proceeds in quoted Company Stock within three weeks now that the transaction has been completed.
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK): Where are Gold Prices Going in the Future?
Although many would have expected Silver and Gold to be hitting all time highs during the recent market turmoil over the financial system, both metals have actually been hit pretty hard. Silver has fallen the most, going from $19.55 an ounce in July of last year to just less than $8.50. What made this happen?
Although there are theories of manipulation and governmental interference, we will focus on what is ‘known’. First, hedge funds were forced to sell their positions in the market as their clients withdrew their funds. Many of these institutions were highly leveraged, causing an even greater amount of selling. The second most apparent reason precious metal prices fell was the astonishing strength of the U.S. Dollar.
First, remember that Gold is a finite resource. There is only so much of it in the world, and then it’s gone. This is a sharp contrast to the U.S. Dollar and other currencies that are able to be printed in both paper and digital form in virtually unlimited amounts.
Although we have been experiencing deflationin the recent months, inflation is expected to be rampant as the U.S. Government prints large amounts of money to deal with the current recession. The feds have shown absolutely no respect for the dollar and seem to have no problem diluting it to the highest extent to solve their other problems. All of these bailouts and the stimulus program put downward pressure on the dollar, and that pressure is substantial.
It is our belief that the recent deflationary period and liquidation of hedge funds have made the spot prices for Gold and Silver artificially low, making it an even more perfect trading/investment opportunity. Although it is possible to buy physical gold, one may want to consider investing in a gold company for greater returns. As gold prices rise, so will these companies’ profits.
One company that could outperform all the rest is Hunt Gold Corp. (HGLC.PK). This gold mining and exploration company has a large portfolio of properties that hold great potential. The company is well funded and has planned a continual drilling campaign for this year to expand its gold resource and to advance its gold properties toward production. For more information, visit QualityStocks
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) - Staying in the News Thus Far in 2009
While countless businesses have been suffering amidst some of the harshest economic conditions in living memory, one company that has not allowed itself to be adversely affected by recent global financial strain is the Hunt Gold Corporation. In fact, quite the opposite has occurred. The past six weeks have been brimming with positive developments for the company.
Early January signaled hope for the New Year, with desirable drilling results returning from several of the company’s prospects; most notably perhaps, the “Mockingbird” claim. Combining its own exploration of the property with the findings of previous stakeholder, Anaconda (shut down by parent company for unrelated reasons), Hunt now believes its “Mockingbird” project to be capable of producing up to one million ounces of gold. The information provided by January’s preliminary round of exploratory drilling is expected to greatly bolster the effectiveness of the next campaign, slated for this month.
January 16th brought the announcement that Hunt had finalized the details for the sale of its “Lookout Silver” mine. The transaction was completed just eight days ago, in the amount of $65 million; funds that will support Hunt’s other endeavors.
Among these endeavors, was the January 20th appointment of Pat O’Hara, Ph.D, as the company’s new senior geochemist. One of the leading authorities on Central Arizona’s geological makeup, he also holds a spot on the Arizona Department of Mines and Mineral Resources’ board of governors. Pat O’Hara is in the perfect position to assess the viability of Hunt’s numerous Arizona-based prospects. Hunt’s current officers expect his input to be instrumental in increasing the corporation’s overall effectiveness.
In addition to a new senior official, the sale of “Silver Lookout” mine, and increased exploratory efforts across the board, Hunt also entered into the sale of another of its assets; American Molygold Corp. The company expects the transaction to be settled later this month with the exchange of the molybednum interest for $620 million in common stock of USA-based, Independence Strategic Minerals, Inc.
February 3rd saw the initiation of efforts to establish a stock repurchase/cancellation program; the funds for which to be obtained with a loan secured against a portion of the $65 million in proceeds from the “Lookout Silver” sale. Hunt noted the belief that its stock is seriously undervalued, and intends to dispatch this problem by significantly reducing the amount of outstanding shares.
This, coupled with the other developments of the last month-and-a-half, seems to allude to a turning-point for this company. Shares are cheap at present, but it is clear that much is being done to solidify a path which leads in the right direction. What this means, is that now is an excellent time to give the Hunt Gold Corporation a closer look, for soon, company stock may be ‘as good as gold’.
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Re: Hunt Gold Corp. - HGLC
what i can not understand is why they have not started mining yet? can you tell me why? i try to write them but never get an answer,if they have all this gold in the ground why not get it out,,it is worthless in the ground? SO PLEASE TELL ME WHY THEY DO NOT START MINING? answer this
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Appoints IR Firm and Updates Shareholders
Hunt Gold Corporation today announced that it has appointed MDM Worldwide Solutions, Inc. as its Investor Relations firm, effective immediately.
The Contact Details are as follows:
MDM Worldwide Solutions, Inc.
989 Avenue of the Americas, 4th Floor
New York, NY 10018
Telephone: (646) 961-4458
E Mail: huntgold@mdmworldwide.com
Contact : Richard Hausig
Hunt Gold’s management believed it was necessary to immediately implement this Investor Relations interaction in order to make sure stockholders were given all timely information. By appointing an IR firm, management will no longer have to deal with the overwhelming amount of requests for information from stockholders.
The Company stated in the press release that it is dealing with all outstanding issues at this time, particularly the Stock Dividend payment which has been delayed by third parties and their professional advisors, a situation that has been beyond its control. Hunt Gold anticipates having these issues resolved in due time and intends to issue a detailed and accurate Statement in respect of all of these issues once it is in possession of all the verifiable facts from all of the third parties involved in these various transactions.
The management of Hunt Gold apologized to all shareholders for not meeting the promised dates. Going forward, they will no longer rely on any third parties and their unsubstantiated promises when announcing firm dates to stockholders.
The company assured stockholders that the Stock Dividends will be paid and that it is doing everything in its power to expedite the process while maintaining a sensible and prudent approach with the third parties responsible for the payment of these Stock Dividends.
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Issues Update Regarding Stock Purchases by Joint Venture Company
Hunt Gold Corporation announced during November of last year that it had formed a Joint Venture Company, being a 50/50 partnership between Hunt Gold and a Mining Fund, to acquire shares of Hunt Gold’s Common Stock as a short to medium term investment.
Today, the company reported their progress on the purchases:
– Total purchases to date by the Joint Venture Company now amount to
1,103,863,000 shares of “free trading” Common Stock.
– 156,983,000 “free trading” shares were purchased on November 17, 2008
at a price of US$0.00035 per share
– 196,880,000 “free trading” shares were purchased on November 26, 2008
at a price of US$0.0003 per share
According to the press release, the Joint Venture Company is not purchasing these shares to increase the stock price. As stated in the terms of the agreement between the Joint Venture Company partners, this is a short to medium term investment. Hunt Gold’s Management further stated that the Joint Venture Company will not be cancelling these shares.
Although the company has agreed with its partner not to disclose the number of shares the Joint Venture Company intends to purchase, they will announce details of all purchases and sales after the sales and purchases have been transacted. Currently, the Joint Venture Company is holding 1,103,863,000 shares of Hunt Gold’s Common Stock. All of these purchases were settled in cash.
The company also updated shareholders on the current status of the recently announced plans to implement a stock repurchase and cancellation program. As stated in the announcement, the purchases are to be funded through a Loan secured against part of the proceeds of the sale of its “Lookout Silver” interests. This Loan is currently being negotiated and stockholders will be kept appraised of the details of this Stock Buyback Program. Once the Loan has been secured, Hunt Gold’s Management plans to immediately commence with stock repurchases in the market.
According to the press release, all shares repurchased by the company for cancellation will only be purchased in the market and not in any “off market” transactions. The company will be providing its stockholders with full disclosure of all shares repurchased and cancelled.
Hunt Gold maintains its belief that the company has been massively undervalued by the market. The company’s management is determined to significantly reduce the amount of outstanding shares and is of the firm opinion that this process will do much for rectifying this huge discount at which the company’s shares of Common Stock are trading.
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Provides Update on Assay Results; Expectations of Gold Deposits
In an announcement released today, Hunt Gold Corp. addressed the questions that investors have been asking about why it is taking so long to release assay results for the recent drill campaign at the Company’s “Mockingbird” Gold Property in Arizona. In response, the company quoted their Project Geologist Ed Huskinson who often says “Quality results take time.”
Before the assay process even begins, the drill core has to be logged, split, placed in sample bags and shipped to the Assay Laboratory. Splitting the core involves taking an electric saw and sawing end to end through hundreds of feet of drill core. The core from this drilling program was mostly gneiss (altered granite), which is a very hard rock.
According to the press release, the splitting of the core took weeks of effort. Although the core from the very first hole was split and sent to the Assay Laboratory in late December of last year, this process was not completed for the final and eighth drill hole until the end of last week.
Once the drill core arrives at the Assay Laboratory, it is processed at time frames which are at the Assay Laboratory’s discretion. Once the Assay Laboratory starts on a company’s core samples, the pulps are prepared from the split core. They are then put through the fire assay process. Typically, the samples are mixed with fluxing agents including lead oxide, and fused at high temperature. The lead oxide is reduced to lead, which collects the precious metals. Once cooled, the lead remains at the bottom, while a glass-like slag remains at the top.
The precious metals are then separated from the lead by cupellation. The final technique used to determine the gold and other precious metals contents of the residue can range from a balance (for very high grade samples), to AAS, ICP-AES or ICP-MS. Finally, the gold and silver content of the remaining residue is determined.
The Assay Laboratory then verifies its calculation before releasing the assay results. This whole process can and usually does take more than a month. The process is taking even longer than usual for Hunt Gold since the recent drill campaign was interrupted by the worst snow storm in the Las Vegas area since 1979 and the multiple days the Assay Laboratory was closed for the Holidays. No assay work (other than preliminary sample preparation) was actually begun by the Assay Laboratory lab until January.
Keeping all this in mind, Hunt Gold will not know definitively of any gold in the drill core until the assay results are in from the Assay Laboratory. However, Management has proven historical data validating that the four mines at the Mockingbird Property historically produced gold. The company reminded shareholders that together its management team has over 200 years of experience and would not be expending enormous sums of money and energy on these projects unless they were convinced that the efforts are based on provable numbers.
In the meantime, Hunt Gold will be awarding the drilling contract that consists of drilling on a number of drill sites, which are continually being selected by the company’s geologists. This “non stop” drilling campaign (barring adverse weather conditions) will utilize a “state of the art,” faster and less costly drilling process. The company currently plans to use a track-mounted or rubber tire (buggy) rig capable of reverse circulation (RC) drilling. RC drilling is much more economical on a per foot basis than core drilling and will enable the next drilling campaign to significantly increase the footage drilled.
Hunt Gold Corporation’s Project Geologist Ed Huskinson initiated a comprehensive reconnaissance sampling program at the Company’s “Mockingbird” Gold property. Numerous additional mineralized areas were discovered during the recent drill campaign, and the reconnaissance is inventorizing and sampling the surface outcrops in a very thorough and scientific manner. Soil geochemical samples are being taken on a 200 foot grid over priority areas, most notably the 56 recently staked claims in the former Anaconda project area. Geochemical results will be posted onto a map and contoured, thus generating “bulls-eye” targets for the next phases of drilling.
The company anticipates continually drilling throughout this year to expand gold resource and advance its gold properties toward production. Nonstop exploration is at the core of Hunt Gold’s current business model, with a focus on selecting drill targets in a prudent and geologically sound manner.
The new drilling campaign scheduled for this month will target a wide range of carefully selected drill sites over a large number of sections on the majority of Hunt Gold Corporation’s Eleven principal Gold Mining properties. The company’s drilling plans primarily involve its “Golden Eagle,” “Ambassador,” “Venezia,” “Starlight” and “American Flag” Gold Mining properties, as well as the continued “fast track” exploration taking place at the extensive “Mockingbird” Gold Project.
Hunt Gold Corporation’s CEO, Mike Saner, commented, “Hunt Gold Corporation’s exploration program at its ‘Mockingbird’ Gold Project is expanding as we continue to learn important new details about this exciting gold property. Exploration will be done in a systematic way in order to maximize ‘Mockingbird’s’ potential for Hunt Gold Corporation and its shareholders.”
He added, “The new policy of nonstop but systematic drilling on numerous sections of the Company’s Gold Mining properties are expected to significantly add to Hunt’s Gold Resources and given the return of the Gold Price to a number now well in excess of US$900/oz; the value of the Company’s Gold properties would continue to escalate rapidly.”
Please see disclaimer on QualityStocks website: QualityStocks
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Appoints Experienced Individuals to Further Strengthen the Company
Recently, Hunt Gold Corp. appointed Frederick J J Blaauw as its Non Executive Chairman and Mr. Patrick F. O’Hara as its Senior Geochemist. Both men have a huge wealth of knowledge and experience, and play key roles within the company.
Mr. Blaauw earned his B.Sc in Mining Engineering from the University of the Witwatersrand in South Africa and has served at the highest Managerial Level of many of the world’s foremost mining companies. Previously, he was a Principal and Co-Founder of Resources International which provided more than $650 million in funding to mining projects.
Mr. O’Hara brings more than three decades of mineral exploration experience to the company. He has a Ph. D in Geology from Arizona State University as well as an M.A. and B.A. in Geology from Queens College of the City University of New York. O’Hara has authored or co-authored over 70 scholarly geologic and geochemical articles and maps.
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) JV Company Continues to Acquire Shares of Common Stock
Today, Hunt Gold Corp updated investors on the progress of its JV Company’s stock purchases. Total purchases to date now total to 1,403,863,000 shares of “free trading” Common Stock after the Joint Venture Company acquired an additional 300 million shares of the Company’s “free trading” Common Stock Tuesday, February 17, 2009.
Hunt Gold’s Management emphasized that the sellers of this stock were being forced to dispose of these shares because of financial pressures beyond their control. The Joint Venture Company is making a substantial difference in reducing the number of shares being offered for sale. All purchases have been settled in cash.
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Re: Hunt Gold Corp. - HGLC
Hunt Gold Corp. (HGLC.PK) Issues Convertible Bonds to Eliminate All Debt and Strengthen Balance Sheet
Today before the opening bell, Hunt Gold Corp. announced that it has authorized an issue of up to $10 million of Convertible Bonds. These bonds are being issued to eliminate existing loans made to the company. The company intends to settle all of these loans through the issuance of convertible bonds by the end of this month.
Hunt Gold Corporation’s cash requirements are enormous considering its extensive exploration and drilling program, ongoing monthly overhead costs, the costs of its Geologists, Professional Advisors and Consultants, its fifty percent share of the Joint Venture Company which is actively acquiring shares of Hunt Gold Corp., and the proposed stock buyback and cancellation program.
The terms of the Convertible Bonds include, without limitation, that: (i) at the option of the holder, the Convertible Bonds are convertible into shares of Hunt Gold Corporation’s Common Stock, at any time after March 31, 2010 and not before that date under circumstances; and at a conversion price calculated at a 10% (ten percent) discount to average closing price of Hunt Gold Corporation’s shares of Common Stock for 5 (five) trading days prior to any such conversion. These Bonds will bear interest at the rate of 9% (Nine percent) per annum, and will only be issued to “accredited investors,” as such term is defined in Rule 501 of Regulation D.
Please see disclaimer on QualityStocks website: QualityStocks
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