Ross Jennings Is Largest VCG Shareholder
Ross Hamou-Jennings is the largest shareholder of Visionary Copper and Gold Mines (TSXV: VCG) through his family office The Quaternary Group he is former Chairman of Cargill Asia Pacific. He most recently purchased 70,100 shares on October 20th at $1.1014 per share increasing his position to 2,867,101.
Back on April 22nd it was announced he made a $7.5 million strategic investment into P2 Gold (TSXV: PGLD) at $0.75 per share. On October 6th, PGLD hit a high of $1.60 per share for a gain of 113.33% in less than six months. PGLD is currently trading for $1.12 per share up by 49.33% since April 22nd vs. the TSX Venture Composite Index down by 23.40%.
VCG's 100%-owned Point Leamington's October 2021 NI 43-101 mineral resource estimate includes 5.013 million tonnes of Indicated resources grading 0.90 g/t gold, 12.2 g/t silver, 0.54% copper, and 1.39% zinc, equivalent to 2.49 g/t gold equivalent (AuEq) or 1.42% copper equivalent (CuEq). These Indicated resources contain approximately 145,700 oz of gold, 2 million oz of silver, 60 million lbs of copper, and 153.5 million lbs of zinc, representing a total of 156.8 million lbs CuEq.
In addition, Point Leamington hosts 15.44 million tonnes of Inferred resources grading 0.85 g/t gold, 15.3 g/t silver, 0.36% copper, and 1.85% zinc, equivalent to 2.33 g/t AuEq or 1.32% CuEq. These Inferred resources contain approximately 420,200 oz of gold, 7.6 million oz of silver, 123.5 million lbs of copper, and 630.1 million lbs of zinc, representing an additional 450.5 million lbs CuEq.
VCG's 2026 discovery of the Kraken copper-rich footwall zone, located outside the existing mineral resource, has intersected mineralization in every hole drilled to test the zone to date and remains open in all directions!
The mineral resource estimate has an effective date of August 20, 2021, and is documented in the NI 43-101 technical report dated December 5, 2023. Copper-equivalent (CuEq) and gold-equivalent (AuEq) calculations are based on assumed metal prices of US$1,625/oz gold, US$22/oz silver, US$3.50/lb copper, and US$1.20/lb zinc. Assumed metallurgical recoveries are 75% for gold, 25% for silver, 80% for copper, and 85% for zinc. Assumed smelter payables are 85% for gold, 90% for silver, 90% for copper, and 85% for zinc. The assumed exchange rate is C$1.00 = US$0.77. The estimate uses net smelter return (NSR) cut-offs of C$25 per tonne for pit-constrained resources and C$75 per tonne for out-of-pit resources. Mineral resources are not mineral reserves and have not demonstrated economic viability. Inferred resources have a lower level of geological confidence than Indicated resources and cannot be assumed to be converted into reserves. Actual metal recoveries and project economics may differ materially from the assumptions used in the estimate. For additional technical details, refer to VCG's Point Leamington NI 43-101 technical report filed December 18, 2023.
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. NIA is receiving compensation from VCG of US$75,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only.