Deep, high-grade drilling sections are particularly convincing
Readers of Goldinvest.de are probably already familiar with Crescat Capital and its technical and geological director Dr. Quinton Hennigh. Not only is Dr. Hennigh a globally recognized expert in commodity investments and has more than 30 years of experience as a geologist – he has worked for Homestake Mining, Newcrest Mining and Newmont, among others – but Crescat is already involved in a number of companies that we also report on. And recently, both Crescat and the expert personally have also become investors in Sitka Gold (WKN A2JG70 / CSE SIG)!
CEO Cor Coe’s company announced Friday afternoon that the gold explorer with a focus on the Yukon and Nevada has completed a private placement of around CAD 2.6 million gross, in which Crescat and Dr. Hennigh participated. According to Sitka, the financing was oversubscribed overall. This means that the interest was so high that not all investors who wanted to participate were able to do so.
Financing details
The Offering consists of 13,014,289 charity FT Units (the “Charity FT Units”) at a price of C$0.20 per Charity FT Unit. Each Unit was issued in connection with a charitable event and consists of one “flow-through” common share of the Company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of C$0.37 for a period of 24 months from the date of issuance.
Deeper, high-grade gold intercepts are especially convincing
Dr. Hennigh’s main reason for his and Crescat’s investment in Sitka Gold is that the company’s RC Gold discovery seems to be another very large-scale, intrusive-hosted gold system in the prolific Tintina Province. He has been following RC Gold’s development over the past few years and was finally convinced by some deeper, high-grade gold intercepts announced by Sitka earlier this year. In Dr. Hennigh’s opinion, Sitka may have discovered a well-preserved high-grade system at RC Gold, as Snowline Gold appears to have done with the Valley deposit. Geochemistry, geology and the drilled grades all point in this direction, the expert explained.
Conclusion: The entry of Crescat Capital and Dr. Hennigh into personally Sitka is a strong vote of confidence not only for the RC Gold project, but also for the work of the Sitka team around CEO Cor Coe. Crescat and Dr. Hennigh are experts in the Yukon region in particular, where the company is active, and were among the investors in Snowline Gold who recognized that company’s potential early on. Incidentally, another Snowline investor had already joined Sitka at the end of August, Ms. Ana Maria Cox De Gubbins, who acquired Sitka shares for as much as CAD 4 million. In contrast to many other explorers, the company is now well financed and can tackle the next drilling season with momentum. Of course, it is still a risky speculation, but in our opinion also has great potential. We are looking forward to a very exciting year ahead for Sitka !
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Pursuant to §34b WpHG and §48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Sitka Gold and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Sitka Gold for reporting on the company. This is another clear conflict of interest.
