Here are some important quotes about the Robertson gold project that Coral Gold (TSXV: CLH) owns a sliding scale NSR royalty in that is currently worth 1.5% and will be worth 2.25% after gold surpasses $2,000 per oz:
Quote from the 2018 Form 40-F Annual Report SEC Filing of Barrick Gold the world's largest gold miner that acquired Robertson from CLH in mid-2017 and is now developing the project in a joint venture with Newmont Mining the world's second largest gold miner:
"In 2018, approximately 15,200 meters in 62 exploration holes were drilled around Cortez, including Cortez Hills, Pipeline, Cortez Pits and Robertson. Spacing ranged from a nominal 100 to 300 meters for earlier stage projects to 15 to 45 meter spacing for resource and reserve delineation programs. Drilling in the Cortez Hills area is conducted from surface and underground platforms. Mineralization remains open at depth in select areas of the CHUG resource with drilling efforts ramping up on the Robertson project. A total of approximately 21,000 meters of drilling is planned in 2019 for the Cortez operations area (Cortez Hills, Pipeline, Cortez Pits and Robertson)." Click here to see for yourself! (Page 55)
Quote from Barrick Gold's Q1 2019 summary of work completed at Robertson obtained from CLH's May 22, 2019 press release:
“Results from 2018 whole core assaying increased the grade thickness and highlights a previous under sampling trend.”
Response from CLH's CEO David Wolfin in the same press release explaining the significance of this:
“We’re very encouraged to hear about the increasing grade thickness and also that past work at the property under-reported grades. This is positive news, and it speaks to Barrick’s thoroughness and methodical approach to completing prefeasibility work, modifying their sampling program to utilize large volume, whole core assaying to overcome analytical variables. As I have said a number of times, there is absolutely no better partner for us in this region than Barrick.”
Very important quote from CLH's July 30, 2019 press release regarding the newly formed Barrick/Newmont JV Nevada Gold Mines' Q2 2019 summary of work completed at Robertson:
"NGM recently delivered its Q2 2019 summary of work completed at Robertson, reporting that the 2019 core drilling program (13,290-meters), which began in early March, continued through the quarter with 5,517 meters completed."
This is the most bullish development possible for CLH because Barrick disclosed in its 2018 Form 40-F Annual Report that total 2019 drilling at Cortez will be 21,000 meters, which means by them conducting 13,920 meters of drilling (ongoing right now) specifically at Robertson, they are investing 66.29% (approximately two-thirds) of their entire Cortez 2019 exploration and drilling budget on Robertson! Now we know what they meant by "drilling efforts ramping up on the Robertson project!"
NIA believes that Barrick/Newmont have privately agreed to make the development of Robertson and bringing the mine into production ASAP their #1 focus and highest priority! In 2018, Cortez produced 1.26 million oz of gold or 30.73% of the 4.1 million oz of gold produced by the Barrick/Newmont JV properties of Nevada Gold Mines!
Tonight, NIA is going to be sending out a Barrick Gold internal graphic we have obtained from an NIA member that shows the company's own internal projections of Cortez's future gold production and what deposits they will be RELYING on to keep production at or near current levels. Over the long term, Barrick accepts that their total company wide production will slowly decline no matter what as their major deposits of the past decade become rapidly depleted, but just to keep production at a somewhat respectable level and prevent it from absolutely crashing, it appears as though major production from Cortez is absolutely needed and Robertson must play a major role for this to be possible!
If Barrick's JV partner Newmont had any doubts about Robertson's future production potential, we can promise you that they wouldn't have allowed Barrick to add it to their JV company. For example, despite Barrick defining a high grade inferred resource for its Fourmile deposit of 697,000 oz grading 18.58 g/t, the joint venture with Newmont is currently excluding Fourmile pending the determination of its commercial feasibility.
It sounds like Barrick/Newmont have already determined the feasibility of Robertson! Afterall, it is only one mile north of the Pipeline open pit gold mine, which turned Royal Gold (RGLD) from a $600,000 enterprise value company to a $226.61 million enterprise value company within four years, with its valuation of $226.61 million being reached one full year before Pipeline even entered production!
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