Dame Julia Cleverdon spent 17 years as the chief executive of Business in the Community as part of a long career in the voluntary sector

Source: Streetwise Reports 11/12/2024

NexGold Mining Corp. (NEXG.V:TSXV; NXGCF:OTCQX; TRC1.F:FRA) and Signal Gold Inc. have successfully closed their previously announced oversubscribed and upsized concurrent financing, generating a total of US$18.5 million. Initially disclosed in joint announcements from both companies on October 10 and October 23, 2024, this financing is part of a larger plan in which NexGold will acquire all shares of Signal Gold to combine both companies' gold projects to create a near-term gold developer.

The financing involved two components. The first was a flow-through (FT) unit private placement by NexGold, which raised CA$8.085 million through the sale of 10,106,250 FT units at CA$0.80 per unit. Each unit includes one flow-through common share and half of one purchase warrant, allowing the holder to buy an additional non-flow-through share at CA$1.05 for the next two years. In the second component, Signal Gold's private placement of subscription receipts yielded CA$10.45 million by issuing 120,075,840 receipts at CA$0.08705 each. These receipts will convert into Signal units once specific escrow release conditions are met, including completion of the acquisition. Each unit consists of one common share and half a purchase warrant, allowing the holder to acquire additional shares for CA$0.11818 over two years.

The net funds from this financing will be used to retire debt, fund the exploration and development of both companies' gold projects - including NexGold's Goliath gold complex in Ontario and Signal's Goldboro project in Nova Scotia - and for general corporate purposes. The gross proceeds from FT units will go toward qualified exploration expenses for NexGold's projects, with renunciation planned by December 31, 2024, as per Canadian tax requirements.

Investor interest included an acquisition by a Sprott Asset Management sub-advised fund, which purchased 2.5 million FT units for CA$2 million, bringing Sprott's holdings to 11.43% of NexGold's issued shares (14.95% on a partially diluted basis). NexGold also extended an investor awareness agreement with i2i Marketing Group, providing up to six months of marketing services for CA$250,000 to increase investor visibility.

Gold Rush

Gold's surge to the US$2,800 mark due to a "perfect storm" of factors, according to an October 29 report from Kitco. Gary Wagner explained that this historic rise, approximately 35% this year, was driven by geopolitical tensions, anticipated Federal Reserve rate cuts, consistent central bank demand, and U.S. political uncertainty in the run-up to the presidential election.

Chen Lin offered a positive outlook on NexGold, noting heightened investor interest following recent updates, including expanded financing and merger plans.

Wagner noted that "geopolitical, political conflicts" and "uncertainties about the outcome of the upcoming presidential election" were critical components, with emerging market central banks increasing their gold reserves to reduce reliance on the U.S. dollar.

On October 30, LiveMint highlighted gold's global appeal. The article mentioned how central banks continue to expand their gold reserves, with net buying reaching 337 tonnes in Q3 2023.

This marks a near-record level, according to the World Gold Council. Escalating geopolitical tensions, especially in the Middle East, have also led investors to seek gold as a safe haven, pushing prices upward. In addition, strong economic data in the U.S., such as job growth and consumer spending, has affected expectations around Federal Reserve policies. These, in turn, have indirectly influenced gold.

By November 4, Egon von Greyerz, in his analysis of the global financial system, emphasized gold as a reliable store of value. He argued that "gold has always stood as a protector" during economic downturns, describing the asset as "the best-performing asset class in this century." Von Greyerz asserted that gold's continued strength could be attributed to its resistance to the "destruction of fiat money," making it an essential wealth-preserving asset in an increasingly unstable financial environment.

The Catalysts Pushing NexGold Forward

NexGold's acquisition of Signal Gold is expected to accelerate its growth as a mid-tier gold producer. According to NexGold's September 2024 investor presentation, this financing supports the ongoing development of the Goliath Gold Complex in Northern Ontario, which holds a combined measured and indicated gold resource of over 2.1 million ounces. Additionally, Signal's Goldboro project in Nova Scotia adds strategic value with historical production potential and significant exploration upside.

The Goliath project benefits from robust infrastructure, an approved environmental assessment, and a promising pre-feasibility study indicating a post-tax NPV of CA$336 million at US$1,750/oz gold. With this acquisition, the combined entity is expected to leverage its enhanced capital position to pursue further exploration and optimization, aiming for near-term production and establishing a solid platform for growth and consolidation in the Canadian gold sector.

What Are Experts Saying?

Ron Stewart, a mining analyst at Red Cloud Securities, maintained a Speculative Buy rating on NexGold with a target currently Under Review in his September analysis. Stewart stated that the merger with Signal Gold offered NexGold an accretive pathway to growth by adding the Goldboro project's resources to its portfolio. He noted that the combined assets of NexGold and Signal would form a "multi-asset company with over 6 million ounces in gold resources," which he described as synergistic and favorable for shareholders. Stewart anticipated the merger would close in Q4 2024, with upcoming catalysts including the Goliath Feasibility Study in Q1 2025 and a potential construction decision for Goliath in H2 2025. [OWNERSHIP_CHART-1961]

Important Disclosures:

1. NexGold Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexGold Mining Inc.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: NEXG.V:TSXV; NXGCF:OTCQX; TRC1.F:FRA, )

USGS geologist Dr. Ben Gutierrez gave a guest lecture in the Environmental Science and Water Resource classes at Tennessee State University in October 2024. He discussed USGS coastal and marine science, as well as the many internship opportunities available through USGS. 

How can smaller, locally-owned home service businesses compete with larger companies for a new generation of workers? Beyond better pay and a more engaging culture, they must use technology to attract younger employees.

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The consumer has spoken. Forrester Research asked 5,000 of them, "What created the biggest pain when you contacted a business for customer service?" They answered lack and consistency of agent knowledge, followed by the difficulty of finding relevant answers on company websites. So, what is driving this dissatisfaction?

There may be several generations that a KM system appeals to in different ways, but there are no generational differences when it comes to expecting high quality customer service and knowledgeable agents.

There was a bit of a wrestle after the US CPI report yesterday but eventually, the dollar once again reigned supreme. EUR/USD saw a break below the April low of 1.0601 and has now traded down to fresh lows for the year. As the greenback continues to run a rampage, it is starting to draw in a rather critical level for EUR/USD in the bigger picture:

As seen from the above, the pair has been sort of stuck within a range of 1.0500 to 1.1200 roughly since the start of 2023.

As such, there looks to be an inevitable pull towards the 1.0500 mark now as sellers have proven their mettle at each and every other test since the start of October trading. The most recent of course being the fall below the April low of 1.0601, as mentioned above.

Taking the technical backdrop above into consideration, it pretty much means we're reaching a very, very critical juncture in gauging the post-election dollar momentum.

A firm break below 1.0500 is not only one to set off any further declines in EUR/USD. But the spillover potential means that it is going to spur even further gains in the dollar as we look towards year-end.

There is certainly strong arguments for that, as Adam pointed out here. But are traders going overboard in frontrunning the potential for the Trump trade and tariffs? That's something to consider as well perhaps.

For now, the momentum trade is name of the game in FX. However, don't ignore the implications set out by key technical boundaries such as the one in the chart above. That will be vital in determining the strength and resolve of the dollar momentum we're seeing now.

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The agreement was signed by PIA CEO Air Vice Marshal Aamir Hayat and additional religious affairs secretary Dr Syed Ata-ur-Rehman.

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