Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Aston Bay Holdings (TSX-V: BAY) has just completed the transaction to acquire all of the issued and outstanding stock of Jack’s Fork Exploration (JFE). The acquisition was completed by way of a reverse triangular merger of Blue Ridge Mining, a wholly owned subsidiary of the company, into JFE, resulting in JFE being renamed “Blue Ridge Mining” and becoming a direct and wholly-owned subsidiary of Aston Bay.
Aston Bay will own exclusive rights to an integrated geophysical, geochemical and geological dataset over the Blue Ridge Project area located in central Virginia, USA. The project is located within a copper-lead-zinc-gold-silver mineralized sedimentary and volcanic belt prospective for sedimentary exhalative, which has a similar geological character as broken hill type deposits.
“Coming from Don Taylor, the pedigree of the projects speaks well to their promising exploration potential for both base and precious metals in this underexplored mineralized belt,” said Thomas Ullrich, CEO of Aston Bay, in a press release. “The company looks forward to presenting more detailed information on these projects in advance of anticipated drill programs in Virginia this winter,” he added.
The Toronto-based miner now has to sign agreements with landholders in the Blue Ridge area.
