“We pulled a nice discovery hole and Sprott (Group of Companies) picked up on it and within an hour (of the news) we had an active discussion on pricing and we closed $4.1 million and Sprott did $3 million of it.”
This was the lead off discussion between Matthew Gordon of Crux Investor and Adam Ciegelski the CEO of Canadian based Gold Line Resources, which is focused on Tier One assets in Sweden and Finland.
The company’s assets are comprised of the Oijärvi Project located in the Oijärvi Greenstone Belt of Finland as well as the Solvik Gold Project, Kankberg Norra and Långtjärn property in the Skellefteå Belt and the Blabarliden and Paubacken property all located in the Gold Line Mineral Belt of Sweden.
It appeared Mathew Crux wasn’t overly surprised that Sprott stepped in as the company’s “first institutional investor” because of the assay results from the “super hole” that Gold Line announced.
The private placement was comprised of 25,625,000 units consisting of one common share and one common share warrant at a price of USD$ 0.16 per unit.The proceeds will be used to complete the second phase of reconnaissance drilling at the company’s Paubäcken property.
The second phase of reconnaissance drilling at the company’s Paubäcken property will be aggressive and aimed at resource determination as well as the identification of targets for a planned diamond drilling program.
0:00 Company Overview
0:29 – Recent Private Placement Financing Overview
1:36 – Plans for the Recent Funding
2:44 – Upcoming Drill Plan Overview
3:20 – Warrants Prices
3:29 – Company Stock Prices History and Discussion
4:52 – What to Watch Out for in 2022
7:20 – Outro
* The above copy was taken from Crux Investors YouTube channel.
To view the full interview, click HERE.
The Howard Group (HG) is not a registered investment advisor and as such, individuals should consult a registered investment advisor prior to making any investment decisions. The information presented was obtained from sources believed to be reliable but is not guaranteed, is not all conclusive and should not be relied upon as the sole source of information/opinion for making an investment decision. The Howard Group receives remuneration for Capital Market Communication activities and HG or its employees may own securities in client companies.