Tahoe Resources

Exploring Yukon Gold Stocks

Exploring Yukon Gold Stocks

Investors are getting heated over Yukon gold exploration stocks, but the cold weather may put a bit of a chill into share prices until next season… During the dark and frozen winters of Canada’s Yukon Territory, efforts to explore and develop new gold resources are crippled. So work on Yukon gold projects is pretty much at a standstill right now. Some gold companies, however, have prepared for the wintertime lull in Yukon exploration by staking other gold claims in warmer global regions… Radius Gold (TSX-V: RDU ) Share Price $0.86 Exchange: Symbol TSX Venture: RDU Market Cap $63 Million Website www.radiusgold.com Radius Gold (TSX-V: RDU) is a precious metal exploration, joint-venturing, and royalty firm that is currently focused on gold and silver projects in the Yukon and Guatemala. The company is part of a larger group of mineral firms lead by Simon Ridgway, a world-renowned prospector and mining industry financier. Known as Gold Group, the firm includes Fortuna Silver Mines (TSX: FVI ), Iron Creek Capital (TSX-V: IRN ), Emerick Resources (TSX-V: ERC ), Focus Ventures (TSX-V: FCV ), and Western Pacific Resources (TSX-V: WRP ). For Radius Gold, Ridgeway and his team have assembled a regionally diverse portfolio of nine total projects in Canada, Guatemala, Nicaragua, Mexico, and Peru. The company has already entered into joint ventures on seven of their gold and silver projects with companies including Solomon Resources (TSX-V: SRB ), B2Gold (TSX: BTO ), and Kappes, Cassiday & Associates — one of the world’s leading gold experts in heap leaching. Right now, however, Radius Gold’s exploration focus are the company’s 60 Mile Yukon Gold project and the Holly-Banderas project in Guatemala. 60 Mile Gold Project, Yukon The 60 Mile Gold project is located in the world famous Tintina gold belt, and covers six creeks and rivers where placer gold was historically mined. Records show that 500,000 ounces of placer gold has been historically recovered from Radius’ claims. The company says that the project has strong geological similarities to International Tower Hill’s (TSX-V: ITH ) Livengood gold discovery in nearby Alaska. The Livengood deposit is currently home to over 7.6 million ounces of indicated and inferred gold resources. In addition to the Livengood deposit (marked #7 in the map below), there are many other world-class gold mines through the Tintina gold belt in Alaska and the Yukon. Radius Gold is currently working on three projects in Canada’s Yukon Territory click to enlarge In mid-August, Radius began a small seven-hole exploration drilling program at the 60 Mile project. The results were reported three months later and were encouraging — showing high-grade gold. But these seven holes are just the very beginning of all the needed to be calculate the size of a gold resource or reserve as standardized by the Canadian Securities Administrators. As I…

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Goldcorp Sells Mine – Analyst Blog

Goldcorp Inc. ( GG ) has entered into an agreement to sell its San Dimas gold-silver mine in Mexico to Mala Noche Resources Corporation, a company engaged in acquiring and developing precious metals resource properties. In 2009, San Dimas produced 113,000 ounces of gold and 5.1 million ounces of silver. In consideration, Goldcorp would receive $500 million, consisting of $275 million in cash and about 30% interest in Mala Noche by way of $175 million shares valued at the offering price of Mala Noche’s proposed equity financing. Goldcorp will also receive a $50 million promissory note payable over five years and bearing interest at a rate of 6% per annum. Goldcorp plans to use the amount so raised to fund its growth projects. Goldcorp has been selling non-core assets recently, including the Escobal silver deposit in Guatemala, which it sold for $505 million to Tahoe Resources Inc., a private company headed by former Goldcorp CEO Kevin McArthur. Amendment of Customer Contract Goldcorp has been selling all the silver produced at the San Dimas mine to Silver Wheaton for approximately $4.00 per ounce. After the sale of the mine, Mala Noche will continue selling silver to Silver Wheaton. Silver Wheaton will receive a minimum of 3.5 million ounces of silver every year and half of any excess production in the first four years after the close of the transaction. In addition, Silver Wheaton will receive an additional 1.5 million ounces per year from Goldcorp. Fifth year onwards, Mala Noche will deliver about 6 million ounces to Silver Wheaton and 50% of any excess. Vancouver-based Goldcorp is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. Goldcorp has

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Goldcorp (TSE:G) Sheds Guatemala Silver Mine for $505 Million

Goldcorp (TSE:G) (NYSE:GG) announced it’ll be selling their Escobal silver project in Guatemala for $505 million in part of their ongoing effort to shed non-core assets.Included with the cash, Goldcorp will also receive a 40 percent stake in Tahoe Resources Inc. The cash portion in Tahoe is valued at $230 million. Goldcorp CEO Chuck Jeannes said the move is to continue the efforts of the

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