Paladin’s Fission Uranium takeover delayed by Canada security review
The takeover has faced several hurdles, including a delayed shareholder vote in August and opposition from Fission’s largest investor.
Integra Gold (CVE:ICG) was up 20% to 36 cents a share after the company announcing a 40% increase to its Lamaque resource.
The company announced the findings in a consultant’s report, the Estimate of Resources and Modeling of the Triangle Sector, for the Lamaque Gold Project, located in Val d’Or, Quebec.
“The addition of the Triangle Zone resource estimate to the existing resources as published on June 23, 2011, has increased the total resource at Lamaque to 518,643 ounces inferred and 162,962 ounces indicated; an enhancement of 40%,” said the company in a news release.
“The addition of high-grade ounces into our Lamaque resource estimate is an exciting milestone for Integra as it not only increases the overall value of the project, but also has the potential to positively influence the various production scenarios we are currently considering,” comments Company President and CEO, John de Jong.
“We will continue to increase our resource as aggressively as possible and are also considering the possible benefit of recalculating the No. 4 Plug resource (315,975 ounces inferred) as the cut-off grade used in the original calculation was determined at a time when gold traded in the $400 to $500 per ounce range.”
Image from Integra Gold’s YouTube channel
Comments
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