Get the Latest Investment Ideas Delivered Straight to Your Inbox.

TICKERS: AUAU; AUXXF, CGT; CGTFF

Columbus Gold Spins Out U.S. Projects and Begins Trading Tuesday
Initial Public Offering

Source:

This new exploration company with an experienced team at the helm begins trading on the TSX Venture Exchange on Tuesday.

Columbus Gold Corp. (CGT:TSX; CBGDF:OTCQX) has spun out its U.S. properties into Allegiant Gold Ltd. (AUAU:TSX.V), which begins trading on Tuesday under the symbol AUAU on the TSX Venture Exchange. The new exploration company has 14 projects in the U.S., 11 in Nevada and the remainder in Utah, New Mexico and Arizona.

According to the company, in 2018, Allegiant plans to drill 10 projects, including the flagship Eastside project. "A drill program is currently underway at Eastside and is focused on resource expansion at the Original Zone, which hosts a pit-constrained Inferred resource totaling 721,000 gold equivalent ounces. In addition to the Original Zone, Eastside hosts numerous exploration targets and historical resources of 272,153 ounces gold," Allegiant announced.

"Allegiant CEO Andy Wallace is the principal of Cordex, which is credited with eight gold mine discoveries in Nevada." – Nick Hodge

Nevada is considered a mining-friendly jurisdiction; in the Fraser Institute Annual Survey of Mining Companies 2016, the state is ranked fourth on its worldwide Investment Attractiveness Index.

Allegiant is being led by CEO Andy Wallace, "who has discovered a number of multi-million-ounce gold mines in Nevada," the company noted.

Nick Hodge wrote in Nick's Notebook on Jan. 26 that "The team is important. CEO Andy Wallace is the principal of Cordex, which is credited with eight gold mine discoveries in Nevada. Five of them occurred under Andy's watch, including the 5 million ounce Marigold Mine, the 12 million ounce Stonehouse/Lone Tree Mine, and the Daisy Mine."

Allegiant's board of directors features an experienced team, including Allegiant Chairman Robert Guistra, who also serves as chairman of Columbus Gold; Russell Ball, former CFO of Goldcorp and Newmont; Norm Pitcher, former president of Eldorado Gold; and Peter Gianulis, president of Carrelton Asset Management, a firm that specializes in natural resource investment.

Columbus Gold is maintaining its interest in the Montagne d'Or gold deposit in French Guiana that the company is developing with Nordgold. The company was recently named to the 2018 OTCQX Best 50 list, based on its performance in 2017.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Columbus Gold. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allegiant Gold, a company mentioned in this article.

Additional disclosures:

Disclosures from Nick Hodge, Nick's Notebook, Jan. 26, 2018

Nick Hodge owns shares of Allegiant Gold.




Want to read more about Gold investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe