Crescat is Ready to Further Increase Its Strategic Stake in the Company to 19.70%
The well-known precious metals and commodities investor Crescat Capital, headquartered in Denver, Colorado, apparently sees great potential in the stock of Juggernaut Exploration Ltd. (TSX-V: JUGR; OTCQB: JUGRF, FSE: 4JE). As Juggernaut announced today, Crescat is ready to further increase its strategic stake in the company to 19.70%. With the tailwind of this lead order, Juggernaut announced that it would raise up to CAD 510,000 through a private placement. The financing will consist of up to 8,500,000 units offered at a price of $0.06 per unit. Each unit consists of one common share and one warrant to purchase a common share at $0.10 over a period of thirty-six months without forced conversion. The placement is expected to close on April 30.
In his role as Technical and Geological Director of Crescat Capital, Dr. Quinton Hennigh continues to provide technical advice to the company. Dr. Hennigh is a globally recognized exploration geologist with over 30 years of experience, including with major gold mining companies Homestake Mining, Newcrest Mining, and Newmont Mining. Dr. Hennigh stated: “The promising results from the first 2023 drilling program confirmed the great potential for intrusion-related gold-base metal deposits of the ‘Surebet’ type at Bingo. Furthermore, follow-up drilling at Midas continues to show the presence of a large volcanogenic massive sulfide system that requires further work. As interest in mining exploration rapidly increases, it is crucial that companies like Juggernaut get back to work making discoveries.”
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, stated: “I look forward to working with our partners who have a proven track record in both financial and technical aspects. This will enable Juggernaut to fully realize the potential of its assets in the long term, thus increasing value for all shareholders. We are greatly anticipating the expansion of our high-grade gold and copper discoveries through drilling at Bingo and Midas in the upcoming summer of 2024.”
Conclusion: The lead order from prominent investor Crescat Capital is likely to significantly increase Juggernaut’s visibility in the future. With its strategic stake of 19.7 percent, Crescat is not only expanding its strategic investment in the explorer but also consolidating its position in a tightly defined region in the so-called Golden Triangle of British Columbia. Juggernaut is a neighbor of Goliath Resources (TSXV: GOT; FRA: B4IF), in which Crescat also holds a strategic stake of 19.9 percent. Additionally, both companies share the same exploration team. Crescat trusts this team to repeat the success of Goliath Resources’ Surebet discovery. Kevin Smith, founder and Chief Investment Officer of Crescat, and Dr. Quinton Hennigh explicitly draw this connection to Surebet. After 60,000 meters of drilling, Goliath now has a market value of around CAD 100 million. Juggernaut Exploration is currently valued at about CAD 7 million.
