Battle North Gold (Ex-Rubicon Minerals) - Red Lake Gold Camp - 500 Beiträge pro Seite

[faultcode]

7.7.2020
Rubicon Minerals Announces Name Change to Battle North Gold Corporation and Other Updates
https://finance.yahoo.com/news/rubicon-minerals-announces-na…
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Rubicon Minerals Corporation (TSX: RMX) (OTCQX: RBYCF) ("Rubicon" or the "Company") is pleased to announce that it has now completed its corporate name change to Battle North Gold Corporation ("Battle North" or the "Company") to better reflect the Company's culture of perseverance, determination, tenacity and resilience, as part of the Northern Ontario community of Red Lake. We believe the new name provides a fresh perspective on the Company's significant accomplishments in recent years and its renewed long-term potential. The Company has also changed the name of its flagship project in the prolific Red Lake gold mining district to the Bateman Gold Project (the "Project"), formerly known as the "Phoenix Gold Project".

The new corporate name is effective immediately; however, the Company will begin trading on the TSX under its new name and new ticker symbol – BNAU – on or about July 9, 2020, with a new CUSIP 07160B106 and ISIN CA07160B1067. The Company expects to begin trading under its new name on the OTCQX at or about the same time, and under a new ticker symbol later this month, until which time the Company will continue to trade under the current OTCQX symbol (RBYCF). The website address has been changed to www.battlenorthgold.com. ...


Battle North Gold: A New Perspective on a Canadian Gold Developer

Battle North CEO George Ogilvie, P.Eng., states, "This is the dawn of a new era for Battle North Gold, its shareholders and stakeholders. We believe the new name provides a fresh look at the Company's potential to create value. Fueled by our perseverance and determination, we have significantly de-risked and advanced our shovel-ready Bateman Gold Project in Red Lake. We are now just months away from the completion of the Feasibility Study for the Project, the results of which, we believe, are highly anticipated and closely watched by our investors and the many that follow the Company. This will be the maiden Feasibility Study (which will include Proven and Probable Mineral Reserve estimates) for the Bateman Gold Project and is a significant milestone warranting the re-branding of the Company."

"In addition, we are pleased with the progress of our multi-faceted exploration programs. We have completed more than 8,000 metres of orientated drilling at the Bateman Gold Project since the data cut-off date of the NI 43-101 Mineral Resource Estimate in January, targeting the conversion of the Inferred Mineral Resource estimates at depth into the Measured and Indicated Mineral Resource categories at the F2 Gold Zone. We have also commenced infill drilling at the McFinley and Pen Zones, both of which are within 550 metres from the Bateman Gold Project existing infrastructure, including a production shaft and a permitted milling facility. All of our current exploration programs are designed with the intent to add incremental mill feed to our operational 1,800-tonne-per-day, state-of-the-art mill facility. We expect to release the details of our exploration results in the coming weeks."

"We plan to review the data with respect to our 28,000-hectare regional land package in Red Lake with the goal of initiating a regional exploration campaign in the near future."
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[faultcode]

Antwort auf Beitrag Nr.: 66.189.424 von faultcode am 24.12.20 15:30:48

22.12.
Battle North gets $40m loan for Bateman construction
https://www.mining.com/battle-north-arranges-40m-loan-to-fun…
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Battle North Gold (TSX: BNAU) has entered a binding commitment letter with Macquarie Bank for a senior secured term loan facility of $40 million, which will be used to fund the construction of the Bateman gold project in Red Lake, Ontario.

Proceeds of the credit facility, together with cash currently on the company’s balance sheet, is expected to fully fund the Bateman project to commercial production.

Macquarie has completed the necessary credit approval process to issue the commitment letter.

However, the credit facility remains subject to certain customary conditions precedent, and to negotiation and execution of customary definitive documentation, which Battle North and Macquarie anticipate will be completed by end of Q1 2021.

Battle North’s board of directors has granted preliminary approval for certain critical-path initial capital expenditures not to exceed C$13 million of the C$109 million initial capital cost of the project. These include portal construction and ramp development from surface, ammonia treatment plant construction, tailings management facility upgrades, and camp upgrades.


Full development of the project, including the balance of the initial capital cost, remains subject to further approval of the board following completion of the credit facility.

The company said it plans to fully repay its existing approximate C$15 million loan facility with Sprott Private Resource Lending later this week.

“We believe 2021 will be a transformational year for the company as we look, subject to board approval, to complete construction and realize first production from the Bateman gold mine,” Battle North CEO George Ogilvie said in a media release.
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aus der Präsentation 2020-12:

[faultcode]

Antwort auf Beitrag Nr.: 66.189.454 von faultcode am 24.12.20 15:36:12

Personal wurde/wird auch schon gesucht (*)

Es sollte demnach ernsthaft langsam mal losgehen:




(*) ich kann nicht sagen, ob das ein Problem für Battle North (und ähnliche Developer) ist.
Zuletzt wurde wohl eher viel gesucht; siehe z.B. Pure Gold Mining: die suchen z.B. immer noch: https://puregoldmining.ca/careers/

Darüber wird aber ungern gesprochen, zwecks dem allgemeinen Investitionsklima in einer recht entlegenen Ecke:

[faultcode]

zur Erinnerung:

...und natürlich: Geologie und Mineralogie sind immer noch dieselben wie seinerzeit

30.11.2015
What went wrong at Rubicon Minerals, one of the biggest junior mining meltdowns in years

Rubicon did look like a near-perfect story: A high-grade discovery in Northern Ontario’s legendary Red Lake camp, home of the world’s richest gold mine. But the Toronto-based miner’s meltdown didn’t come out of nowhere
https://financialpost.com/commodities/mining/lessons-from-th…
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Everything came to a head on Nov. 3, when Rubicon halted all underground work at the Phoenix project. The company acknowledged the geology of the deposit is more complex than previously thought
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Rubicon’s meltdown is a cautionary tale for investors, because it didn’t come out of nowhere. Observers say there have been red flags hovering over the company for years, but they were overlooked by those who got caught in the hype of a hot gold story in a hot gold market.
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Later, the company completes pre-feasibility and bankable feasibility studies that provide much more detail. These studies cost millions of dollars and can take many months to complete, which is frustrating for a junior company that is rushing to get its first cash flow.
Rubicon skipped those two latter stages. It went right from the PEA to construction, raising hundreds of millions along the way.
Skipping the feasibility stage is not unheard of, but it is highly unusual.
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Experts suggested that Rubicon’s Phoenix project was not well-suited to this approach. It is a narrow-vein deposit located in the Canadian Shield, where gold structures tend to be variable, with pockets of very high-grade gold and other pockets with far less.
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Rubicon had drill holes that were spaced 50 metres apart, according to Cook and other experts. In similar Canadian deposits, the holes are spaced as close as 10 or 15 metres apart.
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It is possible that Rubicon could have done a feasibility study and still run into these problems. The industry is littered with examples of studies that bore little relation to what the companies ended up mining. But if Rubicon took the time and money to do the study, analysts and other industry watchers suspect the company would have a far better understanding of where the gold is and how to mine it.
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[faultcode]

Antwort auf Beitrag Nr.: 66.190.390 von faultcode am 24.12.20 17:43:05

über zwei Jahre später kam man dann bei Rubicon Minerals nach (mindestens) einem weiteren Zwischenschritt zu dieser Erkenntnis:



Rubicon Minerals, Corporate Presentation, July 2018

[faultcode]

Antwort auf Beitrag Nr.: 66.190.441 von faultcode am 24.12.20 17:50:39

später kam dann noch (mindestens) ein weiteres, subtiles Detail hinzu (was man zeigen möchte), was man z.B. hinten im Anhang der CORPORATE PRESENTATION, DECEMBER 2020, Battle North Gold findet:




Man beachte auch die Auffälligkeit, daß das Foto rechts gar nicht vom Bateman Gold Project ist.

Auch ist die Sprache immer noch vorsichtig --> "appear":

Riedel vein system: System of mineralized quartz-actinolite veins that appear to be primary structural controls on gold mineralization at the F2 Gold Deposit
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[faultcode]

Antwort auf Beitrag Nr.: 66.190.483 von faultcode am 24.12.20 17:57:59

und wie bei der Umbenennung versprochen ("We are now just months away from the completion of the Feasibility Study for the Project..."), kam dann auch am 1.12.2020 (REPORT DATE) ein neuer Technical Report heraus:

https://www.battlenorthgold.com/projects/bateman-gold-projec…




..und darin ist auch das mit den goldhaltigen Adern genauer erklärt

z.B.:


• P-shear veins
• R-shear veins
• R’ veins
• T veins

...
The Riedel shear system model successfully explains the mapped vein network on the 305 m Level and it is also consistent with the data in the rosette plot, suggesting it can be applied to understand the mineralized vein systems throughout much of the Project.
aus: 7.5 Structural Controls on Gold Mineralization

=> das klingt doch schon mal gut


Ich vermute (ganz laienhaft) auch daher:
• beim Bateman Gold Project wird es sehr wahrscheinlich immer auf geduldige Präzisionsarbeit drauf ankommen

[faultcode]

Antwort auf Beitrag Nr.: 66.190.567 von faultcode am 24.12.20 18:20:59

RED LAKE’S NEXT GOLD PRODUCER
INVESTING IN ONTARIO’S MINING SECTOR -MENDM
FEBRUARY 17, 2021

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[faultcode]

Antwort auf Beitrag Nr.: 66.189.424 von faultcode am 24.12.20 15:30:48

..und Twix Evolution Mining wahrscheinlich!

14.3.
Battle North Gold Corporation to be Acquired by Evolution Mining Limited
https://www.battlenorthgold.com/investors-and-news/press-rel…

TORONTO, March 14, 2021 /CNW/ - Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North") and Evolution Mining Limited (ASX: EVN) ("Evolution") are pleased to announce they have entered into a definitive arrangement agreement pursuant to which Evolution has agreed to acquire all of the issued and outstanding shares of Battle North (the "Transaction") at a price of C$2.65 per common share in cash (the "Consideration"), for total consideration for all issued and outstanding shares pursuant to the Transaction of approximately C$343 million.

The Consideration represents a 46% premium over the closing price of the Battle North common shares on the Toronto Stock Exchange on March 12, 2021 and a 54% premium based on the volume-weighted average price ("VWAP") of the Battle North common shares over the last 20 trading days.

George Ogilvie, Battle North's President, Chief Executive Officer, and Director, commented:

"The all-cash offer is at a significant premium to market and reflects the extraordinary efforts of the Battle North team to create value at the Bateman Gold Project and ultimately deliver an outstanding outcome for Battle North's shareholders. We believe that there are unique and undeniable merits to combining the Red Lake assets of Battle North and Evolution and this Transaction reduces development and execution risk. Evolution is a highly regarded mining company with a demonstrated ability to successfully operate internationally. The Battle North team looks forward to working with Evolution to close the Transaction and smoothly transition operations to the new team."

Jake Klein, Evolution's Executive Chairman, stated:

"Both Evolution and Battle North started the negotiation with a clear alignment that a consolidation of the properties would create value that would not be available if they were developed and operated separately. George and his team have done a very good job at progressing the Bateman Gold Project to this point and recognise that this is an ideal window to consolidate the properties ahead of the construction of the Bateman mine which is now in its early stages.

This acquisition provides Evolution with an opportunity to expand our footprint in the region and create value by leveraging the infrastructure of the two operations. The additional processing capacity from the new Bateman mill will also accelerate our ability to achieve our objective of producing in excess of 300,000 ounces of gold per annum from Red Lake. In the 12 months that we have been operating at Red Lake we have demonstrated that we are a committed steward of the region. This expansion of our footprint will provide us with an opportunity to build on our track record as a safe and sustainable operator for the long term benefit of a broad range of stakeholders including the local workforce, regional communities and our Wabauskang and Lac Seul First Nation Partners."

The Transaction will be implemented by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). The Transaction will be subject to the approval of 66⅔ per cent of the votes cast by Battle North shareholders at the annual and special meeting of shareholders (the "Shareholder Meeting") and a simple majority of the votes cast by Battle North shareholders, excluding certain persons required to be excluded in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators. The Shareholder Meeting is currently expected to be held in May 2021.

Details of the Transaction and the Arrangement Agreement will be set out in the management information circular that will be prepared and mailed to Battle North shareholders in connection with the Shareholder Meeting. As well, additional information regarding the terms of the definitive arrangement agreement, the background to the Transaction, the rationale for the recommendations made by the independent directors of the Board and the Battle North Board and how shareholders can participate in and vote at the Shareholder Meeting will be provided in the management information circular. Shareholders are urged to read these and other relevant materials when they become available.

All directors and officers of Battle North (representing approximately 0.60% of the currently outstanding Battle North common shares) have entered into voting support agreements with Evolution to vote their shares in favour of the Transaction.

The definitive agreement includes customary deal protection provisions. Battle North has agreed not to solicit or initiate any discussion regarding any other business combination, subject to customary "fiduciary out" rights. Battle North has also granted Evolution a right to match any superior proposal and will pay a termination fee of C$14.8 million to Evolution if the definitive agreement is terminated in certain events, including if Battle North recommends or approves an acquisition proposal or enters into an agreement with respect to a superior proposal. Battle North has also agreed to make an expense reimbursement payment to Evolution of C$2.0 million if the definitive agreement is terminated as a result of the Battle North shareholders not approving the Transaction at the Shareholder Meeting.

The Transaction has the full endorsement of Evolution's Board of Directors and will be funded from Evolution's current cash balance and available credit facilities. No vote will be required by Evolution shareholders.

In addition to a positive Battle North shareholder vote, the Transaction is subject to a limited number of closing conditions, including approval of the Supreme Court of British Columbia, there being no material adverse effect in respect of Battle North and other customary conditions for a transaction of this nature. The Transaction is not subject to any regulatory approvals or a financing condition.

Subject to the conditions precedent being met, the Transaction is expected to close in the second calendar quarter of 2021.
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[faultcode]

Antwort auf Beitrag Nr.: 67.455.116 von faultcode am 14.03.21 22:48:56