Buzbuzian Capital Invests in Nevada Gold Project
News related to:Buzbuzian Capital Corp · 2 min read
Buzbuzian Capital Corp. has announced a strategic investment of $300,000 into Getchell Gold Corp., a Nevada-focused gold and copper exploration company listed on the Canadian Securities Exchange (CSE), the OTCQB, and the Frankfurt Stock Exchange (FSE). The investment, which is part of a larger acquisition of 1,000,000 units (each, a "Unit"), consists of one common share of Getchell and one-half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant enables Buzbuzian Capital Corp. to purchase one additional Share at a price of $0.35 per Share for a period of 24 months following the closing date.
The strategic investment is driven by Getchell's flagship Nevada asset, the Fondaway Canyon project, which boasts a highly robust Preliminary Economic Assessment (the "PEA") highlighting a US$1 billion pre-tax net present value ("NPV") within an open-pit mining operation. The PEA outlines a projected average production of 150,000 ounces of gold per year over an estimated 10-year mine life, and the Mineral Resource comprises 999,000 indicated ounces of gold at 1.40 g/t and 1.812 million inferred ounces of gold at 1.24 g/t, with significant potential for expansion remaining open.
Buzbuzian Capital Corp.
The Fondaway Canyon project is a substantial asset for Getchell, with a substantial valuation as outlined in the PEA, and a top-tier production profile. The Mineral Resource remains open with significant potential for expansion, and the PEA is a preliminary in nature, but it provides a clear indication of the project's potential. Getchell's efforts are primarily focused on the Fondaway Canyon project, which has a large Mineral Resource Estimate and a highly robust PEA.
Buzbuzian Capital Corp. has acquired these Shares and Warrants for investment purposes. The company may evaluate its investment in Getchell from time to time and based on market conditions or future events, may increase or decrease its positioning. The company's investment in Getchell is a strategic move to capitalize on the exceptional strength of the gold market and the robust potential of the Fondaway Canyon project.
Getchell Gold Corp. is a Nevada-focused gold and copper exploration company trading on the CSE (GTCH), OTCQB (GGLDF), and FWB (GGA1). The company is primarily directing its efforts on its most advanced-stage asset, the Fondaway Canyon project, which has a large Mineral Resource Estimate and a highly robust PEA outlining a US$1 billion pre-tax NPV open-pit mining operation.