AngloGold Ashanti (AU) has just discovered a new gold deposit in the Beatty District directly adjacent to Augusta Gold (TSX: G)'s Reward and Bullfrog gold projects. We don't know the exact resource size yet, but AU says it contains somewhere between 6 and 8 million oz of gold. This is the largest Nevada gold discovery in over a decade and literally nobody is talking about it.
G is trading at "bankrupt like" prices because we know people who blew out of their entire positions convinced that Richard Warke would let his own company default on a loan that he made to it. Today's news shows that G's largest shareholders are fully committed to building it into Nevada's next mid-tier gold company.
Here is a pic from AU's brand new presentation. The two stars on the outside of their projects are the deposits owned by G!
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 224,200 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.