Newmont sells Ontario mine to Orla for $850 million
The addition of the Musselwhite mine to its portfolio more than doubles Orla Mining's gold output to 300,000 ounces per year.
A new uranium exploration junior is about to start trading, and the CEO has a lot of experience with exploration promotions.
The company is Westham Resources Corp, about to be renamed Roughrider Exploration Limited, which has an option to earn up to an 85% interest in in Kivalliq’s “Genesis” uranium project in Saskatchewan’s Athacasca Basin, not far from Rio Tinto’s Roughrider deposit.
Roughrider CEO Scott Gibson was formerly a successful Investor Relations consultant and has since gone on to launch his own investment fund in partnership with Kitco.com founder Bart Kitner, investing in early stage mining and exploration companies.
The junior mining specialist has attracted some well known industry types to the company’s board of directors. Geologist Dale Wallster, who sold the original Roughrider property to Hathor Exploration which subsequently sold to Rio Tinto, has joined the company’s board, as has Alderon Iron Ore Corp CEO Mark Morabito (note to self Alderon’s shares are the softest they have been in a year (as low as $1.12 today) despite the company having the most de-risked iron ore project of a Canadian junior presently). Additionally, newsletter writer Eric Coffin will serve as a strategic advisor to the company.
Communications has always been Mr. Gibson’s forte so we expect the company to generate a fair share of attention in the junior mining community, despite the terrible odds of exploration and the uranium spot price, which is nearing decade lows.
Mr. Gibson conveyed the company’s aspirational story in today’s news release.
“I’m very pleased with the speed we have been able to complete the agreement with Kivalliq and the positive reception by investors. Partnering with such a strong exploration team in the world’s premier uranium exploration area gives Westham a platform to grow and succeed. I’m particularly gratified that we have been able to attract new directors and advisors with direct experience and successful track records in the uranium exploration sector. The Company is in good hands and I’m excited to get crews in the field and start generating exploration results.”
Roughrider Exploration Limited will commence trading on the TSX-V under the symbol REL as early as next Friday, July 18th, subject to exchange approval.
