Augusta Gold (TSX: G) gained by 2.94% today to $1.75 per share.
G owes a final $17.5 million deferred cash payment on their recent acquisition of the fully permitted Reward Gold Project, which is due within 90 days of closing. G's acquisition of Reward closed on June 14th. G owes the $17.5 million in cash by September 14th and currently has $5 million in cash. According to G's April 21st press release, this final payment was "backstopped by the Company’s Executive Chairman and significant shareholder, Mr. Richard Warke." Billionaire Richard Warke has been a huge buyer of G shares in the open market in recent months. In all likelihood, he is about to make a large investment into G within days and this along with G's Reward pre-feasibility study being released later this month will cause G to make triple-digit gains!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 174,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.