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Spin resolved electron density study of YTiO3 in its ferromagnetic phase: signature of orbital ordering

The present work reports on the charge and spin density modelling of YTiO3 in its ferromagnetic state (TC = 27 K). Accurate polarized neutron diffraction and high-resolution X-ray diffraction (XRD) experiments were carried out on a single crystal at the ORPHÉE reactor (LLB) and SPRING8 synchrotron source. The experimental data are modelled by the spin resolved pseudo-atomic multipolar model (Deutsch et al., 2012). The refinement strategy is discussed and the result of this electron density modelling is compared with that from XRD measured at 100 K and with density functional theory calculations. The results show that the spin and charge densities around the Ti atom have lobes directed away from the O atoms, confirming the filling of the t2g orbitals of the Ti atom. The dxy orbital is less populated than dxz and dyz, which is a sign of a partial lift of degeneracy of the t2g orbitals. This study confirms the orbital ordering at low temperature (20 K), which is already present in the paramagnetic state above the ferromagnetic transition (100 K).




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Evidence for binary Smc complexes lacking kite subunits in archaea

SMC complexes play a central role in chromosome organization in all domains of life. The bacterial Smc–ScpAB complex is a three-subunit complex composed of Smc, ScpA and ScpB. ScpA bridges the two ATPase domains of the Smc homodimer, while ScpB, which belongs to the kite family of proteins, interacts with ScpA. The three subunits are known to be equally important for the function of Smc–ScpAB in bacteria. From crystallographic and biochemical studies, evidence is provided that six archaeal ScpA proteins are unable to interact with the only putative ScpB found in these species. Structure-based sequence alignment reveals that these archaeal ScpAs lack the ScpB-binding segment that is commonly present in the middle of bacterial ScpA sequences, which is thus responsible for their inability to interact with ScpB. ScpA proteins lacking the ScpB-binding segment are found to prevail in archaea. Moreover, two archaeal ScpA proteins with a longer middle region also failed to bind their putative ScpB partner. Furthermore, all or most species belonging to five out of 14 euryarchaeotal orders contain Smc and ScpA but not a detectable ScpB homologue. These data support the notion that archaeal Smc-based complexes generally function as a two-subunit complex composed of only Smc and ScpA.




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New zeolite-like RUB-5 and its related hydrous layer silicate RUB-6 structurally characterized by electron microscopy

This study made use of a recently developed combination of advanced methods to reveal the atomic structure of a disordered nanocrystalline zeolite using exit wave reconstruction, automated diffraction tomography, disorder modelling and diffraction pattern simulation. By applying these methods, it was possible to determine the so far unknown structures of the hydrous layer silicate RUB-6 and the related zeolite-like material RUB-5. The structures of RUB-5 and RUB-6 contain the same dense layer-like building units (LLBUs). In the case of RUB-5, these building units are interconnected via additional SiO4/2 tetrahedra, giving rise to a framework structure with a 2D pore system consisting of intersecting 8-ring channels. In contrast, RUB-6 contains these LLBUs as separate silicate layers terminated by silanol/sil­oxy groups. Both RUB-6 and RUB-5 show stacking disorder with intergrowths of different polymorphs. The unique structure of RUB-6, together with the possibility for an interlayer expansion reaction to form RUB-5, make it a promising candidate for interlayer expansion with various metal sources to include catalytically active reaction centres.




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A decagonal quasicrystal with rhombic and hexagonal tiles decorated with icosahedral structural units

The structure of a decagonal quasicrystal in the Zn58Mg40Y2 (at.%) alloy was studied using electron diffraction and atomic resolution Z-contrast imaging techniques. This stable Frank–Kasper Zn–Mg–Y decagonal quasicrystal has an atomic structure which can be modeled with a rhombic/hexagonal tiling decorated with icosahedral units at each vertex. No perfect decagonal clusters were observed in the Zn–Mg–Y decagonal quasicrystal, which differs from the Zn–Mg–Dy decagonal crystal with the same space group P10/mmm. Y atoms occupy the center of `dented decagon' motifs consisting of three fat rhombic and two flattened hexagonal tiles. About 75% of fat rhombic tiles are arranged in groups of five forming star motifs, while the others connect with each other in a `zigzag' configuration. This decagonal quasicrystal has a composition of Zn68.3Mg29.1Y2.6 (at.%) with a valence electron concentration (e/a) of about 2.03, which is in accord with the Hume–Rothery criterion for the formation of the Zn-based quasicrystal phase (e/a = 2.0–2.15).




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The flavin mononucleotide cofactor in α-hydroxyacid oxidases exerts its electrophilic/nucleophilic duality in control of the substrate-oxidation level

The Y128F single mutant of p-hydroxymandelate oxidase (Hmo) is capable of oxidizing mandelate to benzoate via a four-electron oxidative decarboxylation reaction. When benzoylformate (the product of the first two-electron oxidation) and hydrogen peroxide (an oxidant) were used as substrates the reaction did not proceed, suggesting that free hydrogen peroxide is not the committed oxidant in the second two-electron oxidation. How the flavin mononucleotide (FMN)-dependent four-electron oxidation reaction takes place remains elusive. Structural and biochemical explorations have shed new light on this issue. 15 high-resolution crystal structures of Hmo and its mutants liganded with or without a substrate reveal that oxidized FMN (FMNox) possesses a previously unknown electrophilic/nucleophilic duality. In the Y128F mutant the active-site perturbation ensemble facilitates the polarization of FMNox to a nucleophilic ylide, which is in a position to act on an α-ketoacid, forming an N5-acyl-FMNred dead-end adduct. In four-electron oxidation, an intramolecular disproportion­ation reaction via an N5-alkanol-FMNred C'α carbanion intermediate may account for the ThDP/PLP/NADPH-independent oxidative decarboxylation reaction. A synthetic 5-deaza-FMNox cofactor in combination with an α-hydroxyamide or α-ketoamide biochemically and structurally supports the proposed mechanism.




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What is the structural chemistry of the living organism at its temperature and pressure?

The three probes of the structure of matter (X-rays, neutrons and electrons) in biology have complementary properties and strengths. The balance between these three probes within their strengths and weaknesses is perceived to change, even dramatically so at times. For the study of combined states of order and disorder, NMR crystallography is also applicable. Of course, to understand biological systems the required perspectives are surely physiologically relevant temperatures and relevant chemical conditions, as well as a minimal perturbation owing to the needs of the probe itself. These remain very tough challenges because, for example, cryoEM by its very nature will never be performed at room temperature, crystallization often requires nonphysiological chemical conditions, and X-rays and electrons cause beam damage. However, integrated structural biology techniques and functional assays provide a package towards physiological relevance of any given study. Reporting of protein crystal structures, and their associated database entries, could usefully indicate how close to the biological situation they are, as discussed in detail in this feature article.




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A temperature-controlled cold-gas humidifier and its application to protein crystals with the humid-air and glue-coating method

The room-temperature experiment has been revisited for macromolecular crystallography. Despite being limited by radiation damage, such experiments reveal structural differences depending on temperature, and it is expected that they will be able to probe structures that are physiologically alive. For such experiments, the humid-air and glue-coating (HAG) method for humidity-controlled experiments is proposed. The HAG method improves the stability of most crystals in capillary-free experiments and is applicable at both cryogenic and ambient temperatures. To expand the thermal versatility of the HAG method, a new humidifier and a protein-crystal-handling workbench have been developed. The devices provide temperatures down to 4°C and successfully maintain growth at that temperature of bovine cytochrome c oxidase crystals, which are highly sensitive to temperature variation. Hence, the humidifier and protein-crystal-handling workbench have proved useful for temperature-sensitive samples and will help reveal temperature-dependent variations in protein structures.




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A temperature-controlled cold-gas humidifier and its application to protein crystals with the humid-air and glue-coating method

A new temperature-controllable humidifier for X-ray diffraction has been developed. It is shown that the humidifier can successfully maintain protein crystal growth at a temperature lower than room temperature.




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Fossils of tiny cupuladriid colonies reveal extinction can lag more than one million years after its cause

A new Smithsonian study that examines 10 million years of the evolution of tiny coral-like organisms called cupuladriid bryzoans has revealed that some species of this organism lingered on earth for more than one million years after the event that ultimately caused their extinction: the rising of the Isthmus of Panama.

The post Fossils of tiny cupuladriid colonies reveal extinction can lag more than one million years after its cause appeared first on Smithsonian Insider.




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From the Bay of Bengal, a dinoflagellate makes its way to the Smithsonian

It’s not an exaggeration to say Hedrick was ecstatic when she peered into her inverted phase contrast microscope and found "Amphisolenia quadrispina" floating in her sample. “For 20 years I’ve been hoping to see something like this,” she says.

The post From the Bay of Bengal, a dinoflagellate makes its way to the Smithsonian appeared first on Smithsonian Insider.




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Stunning high-resolution NASA images available online for public exhibits

The National Aeronautics and Space Administration has made available to the public a new online collection of images that capture the excitement of planetary exploration and the journey to understand the origin and evolution of the solar system.

The post Stunning high-resolution NASA images available online for public exhibits appeared first on Smithsonian Insider.




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Research on tungara frogs may be applicable to hearing loss/attention deficits in humans

A new study has revealed information about the way tungara frogs in the tropical rain forest hear, sort, and process sounds which is very similar to the way humans do. The knowledge could be applicable to communication disorders associated with hearing loss and attention deficits or difficulties.

The post Research on tungara frogs may be applicable to hearing loss/attention deficits in humans appeared first on Smithsonian Insider.




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Females can place limits on evolution of attractive features in males, research shows

In a new paper appearing this week in Science, a group of biologists have shown that females themselves can also limit the evolution of increased elaboration.

The post Females can place limits on evolution of attractive features in males, research shows appeared first on Smithsonian Insider.




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Crab pulsar dazzles astronomers with its gamma-ray beams

The same object that dazzled skygazers in 1054 C.E. continues to dazzle astronomers today by pumping out radiation at higher energies than anyone expected.

The post Crab pulsar dazzles astronomers with its gamma-ray beams appeared first on Smithsonian Insider.




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Melting snow likely created fan deposits inside Martian craters, geologists say

Accumulations of drifting snow are the most plausible explanation for the presence of a number of puzzling alluvial fan deposits found inside large impact craters on Mars

The post Melting snow likely created fan deposits inside Martian craters, geologists say appeared first on Smithsonian Insider.



  • Science & Nature
  • Space
  • astronomy
  • astrophysics
  • Center for Earth and Planetary Studies
  • National Air and Space Museum
  • rocks & minerals

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Illustration from American game fishes, their habits, habitat, and peculiarities

Frontispiece illustration of “flies” from the 1882 book American game fishes, their habits, habitat, and peculiarities; how, when, and where to angle for them, featuring […]

The post Illustration from American game fishes, their habits, habitat, and peculiarities appeared first on Smithsonian Insider.





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Star cluster thrown out of its galaxy

The galaxy known as M87 has a fastball that would be the envy of any baseball pitcher. It has thrown an entire star cluster toward […]

The post Star cluster thrown out of its galaxy appeared first on Smithsonian Insider.




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Deadbeat ant species branched off as parasite inside its own colony

A newly-discovered species of ant supports a controversial theory of species formation. The ant, known to live only under a single eucalyptus tree on the […]

The post Deadbeat ant species branched off as parasite inside its own colony appeared first on Smithsonian Insider.




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Newly discovered sea urchin fossil is oldest of its kind

Researchers have uncovered a fossil sea urchin that pushes back a fork in its family tree by 10 million years, according to a new study. […]

The post Newly discovered sea urchin fossil is oldest of its kind appeared first on Smithsonian Insider.





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There’s more to extraterrestrial life than planets in “habitable zone” orbits

Two separate teams of scientists have identified major challenges for the development of life in what has recently become one of the most famous exoplanet […]

The post There’s more to extraterrestrial life than planets in “habitable zone” orbits appeared first on Smithsonian Insider.




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3D simulations reveals why the Sun flips its magnetic field every 11 years

Using new numerical simulations and observations, scientists may now be able to explain why the Sun’s magnetic field reverses every eleven years. This significant discovery […]

The post 3D simulations reveals why the Sun flips its magnetic field every 11 years appeared first on Smithsonian Insider.



  • Research News
  • Science & Nature
  • Space
  • Center for Astrophysics | Harvard & Smithsonian
  • Smithsonian Astrophysical Observatory

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A solar probe is on its way to touch the sun. The Smithsonian built the tool that will measure the sun without melting

Smithsonian scientists have joined NASA and other organizations this summer to do something incredible: launch a spacecraft, the Parker Solar Probe, into space and have […]

The post A solar probe is on its way to touch the sun. The Smithsonian built the tool that will measure the sun without melting appeared first on Smithsonian Insider.



  • Science & Nature
  • Space
  • Smithsonian Astrophysical Observatory

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Compartmentalization of adenosine metabolism in cancer cells and its modulation during acute hypoxia [RESEARCH ARTICLE]

Karolina Losenkova, Mariachiara Zuccarini, Marika Karikoski, Juha Laurila, Detlev Boison, Sirpa Jalkanen, and Gennady G. Yegutkin

Extracellular adenosine mediates diverse anti-inflammatory, angiogenic and vasoactive effects and becomes an important therapeutic target for cancer, which has been translated into clinical trials. This study was designed to comprehensively assess adenosine metabolism in prostate and breast cancer cells. We identified cellular adenosine turnover as a complex cascade, comprised of (a) the ectoenzymatic breakdown of ATP via sequential nucleotide pyrophosphatase/phosphodiesterase-1, ecto-5’-nucleotidase/CD73 and adenosine deaminase reactions, and ATP re-synthesis through counteracting adenylate kinase and nucleoside diphosphokinase; (b) the uptake of nucleotide-derived adenosine via equilibrative nucleoside transporters; and (c) the intracellular adenosine phosphorylation into ATP by adenosine kinase and other nucleotide kinases. The exposure of cancer cells to 1% O2 for 24 hours triggered ~2-fold up-regulation of CD73, without affecting nucleoside transporters, adenosine kinase activity and cellular ATP content. The ability of adenosine to inhibit the tumor-initiating potential of breast cancer cells via receptor-independent mechanism was confirmed in vivo using a xenograft mouse model. The existence of redundant pathways controlling extracellular and intracellular adenosine provides a sufficient justification for reexamination of the current concepts of cellular purine homeostasis and signaling in cancer.




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With 1844 first edition, Smithsonian Libraries completes its collection of Charles Darwin’s three-volume geology series

Smithsonian Institution Libraries has recently acquired a rare first edition of Darwin's Geological Observations on the Volcanic Islands, Visited During the Voyage of the H.M.S. Beagle.

The post With 1844 first edition, Smithsonian Libraries completes its collection of Charles Darwin’s three-volume geology series appeared first on Smithsonian Insider.




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National Museum of Natural History acquires gemstones in honor of its 100th anniversary

The Smithsonian’s National Museum of Natural History recently acquired four remarkable gemstones and jewelry pieces for the Smithsonian’s National Gem Collection in celebration of the 100th anniversary of the museum.

The post National Museum of Natural History acquires gemstones in honor of its 100th anniversary appeared first on Smithsonian Insider.




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NYPD is already replacing its Windows phones with iPhones





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Smithsonian biologist Rachel Collin visits the Universidad Austral de Chile to collect special snails for her research.

In 2010 Dr. Rachel Collin visited her colleagues at the Universidad Austral de Chile in Valdivia to collect some very special snails for her research at the Smithsonian Tropical Research Institute, Panama.

The post Smithsonian biologist Rachel Collin visits the Universidad Austral de Chile to collect special snails for her research. appeared first on Smithsonian Insider.






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Stephen Hawking Congratulates LIGO Team on its Smithsonian American Ingenuity Award

Click here to read more about the work of the Laser Interferometer Gravitational-Wave Observatory. The Smithsonian has been celebrating innovation in American culture for more than […]

The post Stephen Hawking Congratulates LIGO Team on its Smithsonian American Ingenuity Award appeared first on Smithsonian Insider.





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Installation of the Obama portraits

On February 12, 2018, the Smithsonian’s National Portrait Gallery unveiled its commissioned portraits of former President Barack Obama and Mrs. Michelle Obama by artists Kehinde […]

The post Installation of the Obama portraits appeared first on Smithsonian Insider.



  • Art
  • History & Culture
  • Video
  • National Portrait Gallery

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Astronaut advice: Peggy Whitson

  Find your passion,” says veteran Astronaut Peggy Whitson. The Iowa native holds the record for time in space by an American. Learn all about […]

The post Astronaut advice: Peggy Whitson appeared first on Smithsonian Insider.



  • History & Culture
  • Science & Nature
  • Space
  • Video
  • National Air and Space Museum

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Insect mimic of ginko-like leaf discovered 165 million years after its extinction

Exquisitely preserved in fossil sediments dating from the Middle Jurassic, the insect, newly named Juracimbrophlebia ginkgofolia, was discovered in 165 million-year-old deposits, as was the ginko-like tree, Yimaia capituliformis, the mimicked plant.

The post Insect mimic of ginko-like leaf discovered 165 million years after its extinction appeared first on Smithsonian Insider.




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New report enables creation of carbon credits for restored wetlands

How much is a wetland worth? It’s a question that has plagued policymakers, scientists and other leaders looking to protect their communities and slow down […]

The post New report enables creation of carbon credits for restored wetlands appeared first on Smithsonian Insider.




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Bon Voyage Bao Bao! Washington loses its precious treasure

Muted moans of sadness punctuated the pandemonium that engulfed the Smithsonian’s National Zoo over the weekend as throngs of well-wishing visitors flooded through the Zoo’s […]

The post Bon Voyage Bao Bao! Washington loses its precious treasure appeared first on Smithsonian Insider.




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Rigid yet flexible: Anatomy of woody vines has its grip on botanist Marcelo Pace

What might lure someone away from the sunny beaches and lush forests of Brazil to the concrete jungle of Washington, D.C.? For wood anatomist Marcelo […]

The post Rigid yet flexible: Anatomy of woody vines has its grip on botanist Marcelo Pace appeared first on Smithsonian Insider.




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Ant colony ‘personality’ may play role in survival of its host plant

A new paper published in Behavioral Ecology finds that some ant colonies defend more gallantly than others, revealing that colonies themselves may have personalities. Trees that have […]

The post Ant colony ‘personality’ may play role in survival of its host plant appeared first on Smithsonian Insider.




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Sodium sulfite hepta­hydrate and its relation to sodium carbonate hepta­hydrate

The monoclinic crystal structure of Na2SO3(H2O)7 is characterized by an alternating stacking of (100) cationic sodium–water layers and anionic sulfite layers along [100]. The cationic layers are made up from two types of [Na(H2O)6] octa­hedra that form linear 1∞[Na(H2O)4/2(H2O)2/1] chains linked by dimeric [Na(H2O)2/2(H2O)4/1]2 units on both sides of the chains. The isolated trigonal–pyramidal sulfite anions are connected to the cationic layers through an intricate network of O—H⋯O hydrogen bonds, together with a remarkable O—H⋯S hydrogen bond, with an O⋯S donor–acceptor distance of 3.2582 (6) Å, which is about 0.05 Å shorter than the average for O—H⋯S hydrogen bonds in thio­salt hydrates and organic sulfur com­pounds of the type Y—S—Z (Y/Z = C, N, O or S). Structural relationships between monoclinic Na2SO3(H2O)7 and ortho­rhom­bic Na2CO3(H2O)7 are discussed in detail.




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Facebook's Libra unveils HSBC legal head as its first chief executive

Facebook’s digital currency project Libra has unveiled HSBC legal chief...




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NuLegacy Gold Receives Strong Vote of Confidence in Value of Its Flagship Red Hill Project in Nevada's Cortez Trend

Source: Peter Epstein for Streetwise Reports   05/07/2020

Peter Epstein of Epstein Research looks into the Gross Overriding Royalty that just changed hands on the company's flagship Red Hill project, and discusses what it means for the firm.

In late April, Metalla Royalty & Streaming acquired two royalties, one of which was a Gross Overriding Royalty (GOR) on NuLegacy Gold Corporation (NUG:TSX.V; NULGF:OTCQX) flagship Red Hill project, a Carlin-style deposit in Nevada's world-famous Cortez trend.

To be clear, this was a transaction between Metalla and a private company; no cash or other remuneration flowed to NuLegacy. However, this news is still exciting and thought provoking as it pertains to a potential (implied) valuation of Red Hill. So much so, that—CEO/director of Finance and Marketing—Albert Matter put out this press release highlighting it. {corporate presentation}

Metalla's news is applicable to NuLegacy for a number of reasons. Let me start by saying I know the Metalla team, I've written about the company several times (although not recently).

This is a smart, hard-working, market-savvy group, with global experience, integrity and expertise. When dealing in streams and royalties, it's all about industry connections, market knowledge and deal flow. Metalla has that and is up to its eyeballs in deal flow (deals it can make or pass on).

Takeaways on implied valuation of NuLegacy's Red Hill project?

That's why this news is so interesting. It represents a reliable, unbiased vote of confidence in NuLegacy's Red Hill project. I was able to track down the president, CEO and a director of Metalla, Mr. Brett Heath, to ask him about his team's view of NuLegacy, their management and technical teams, and the Red Hill project,

"The Red Hill project is very interesting due to its location & position within the Cortez trend of Nevada that hosts globally significant mines & projects, specifically Cortez Hills, Pipeline & Goldrush. Although many near-surface deposits have been discovered, several blind deposits similar to Goldrush have yet to be found.

"NuLegacy's Rift Anticline is a promising new drill target, a chance to discover a large, high-grade deposit. The close proximity of Red Hill to Goldrush heavily influenced our understanding of the geology at Red Hill. Specifically, it allowed us to better understand that the Rift Anticline has similar stratigraphy to Goldrush, and similar mineralization events nearby."

Investors, shareholders and analysts are trying to figure out what (if any) read-throughs there are in terms of the valuation of the Red Hill project.

From the press release:

"Valuing Gross Overriding Royalties ("GORs") is a complicated business made easier in this instance by the straightforward nature of the [transaction] …. prorating the US$4 million purchase price for the total of 2% GOR that was acquired…. values a 1% GOR in the Red Hill project at ~US$2 million."

What this valuation exercise boils down to is how does the value of a 1% GOR compare to a conventional working interest in the same project? GORs are highly case specific, so I will give a range of possibilities. Many factors make GORs unique, but a rule of thumb is that a 1% GOR equates to a 5% working interest.

However, due to the unknown terms of this particular GOR, let's assume that the 1% GOR is equal to between a 5% and 10% working interest. By extending the range higher than 5%, more conservative valuations for Red Hull are obtained. In the chart below one can see that the implied ~US$2 million paid for a 1% GOR equals C$2.8 million at the current exchange rate.

Therefore, Red Hill's indicative valuation could be viewed as C$28 million to C$56 million, or C$0.08 to C$0.15 per share. Currently, the stock's trading at C$0.07. The company has a cash balance of C$4.5 million. {see corporate presentation}. I believe the C$0.08 to C$0.15/share range is conservative because Metalla's purchase of the GOR had a built-in profit expectation. The true ascribed value of a 1% GOR on the Red Hill project might be higher than C$2.8 million.

A true vote of confidence in NuLegacy Gold

Perhaps more important than an implied (subjective) valuation of Red Hill are the following takeaways. First, Metalla not only likes Red Hill, it must also feel good about the long-term prospects for Nevada and the U.S. Metalla looks at hundreds of deals a year from all over the world. Management can, and does, invest in dozens of jurisdictions.

Yet, in April 2020, it chose the U.S., …. Nevada …. the Cortez Trend…. Second, it chose a project that's pre-maiden resource. Remember, Metalla has paid out ~C$2.8 million, but doesn't make a penny of that back unless it re-sells some or all of the GOR it acquired, or Red Hill reaches commercial production. Therefore, I argue that investing at this relatively early stage is a stamp of approval in the extensive work done to date at Red Hill.

That Metalla chose to deploy capital in a gold asset rather than a silver asset, despite the gold-silver ratio being near an all-time high (over 110 to 1) seems promising. Finally, it chose the U.S. at a time when the currencies of Mexico, Australia, Canada and others have weakened considerably vs. the U.S. dollar, making exploration cheaper in those countries. One must have conviction to choose Red Hill over dozens of public and private, pre-maiden resource, projects around the globe.

In the end, a good project in a great jurisdiction is only as prospective as its technical/management teams. NuLegacy has prudently advanced Red Hill in good times and bad. For most of NuLegacy's existence, the gold price traded between about $1,050 and $1,400/oz.

Gold price at $1,730/oz. is a game-changer….

Now gold is hovering around $1,730/oz after almost touching $1,800/oz in March. This is a game-changer for juniors like NuLegacy that have tremendous blue-sky potential, (look at neighboring mines and development projects, some of the best on the planet) but like most juniors, have limited funding to conduct aggressive drill programs in a strong gold price environment.

A savvy company betting on the Red Hill project is yet another indication that the time has come for precious metal players to become more active in M&A.

The day that Barrick commits its deep experience (and deep pockets!) to NuLegacy's Red Hill, all royalties held on that project would soar in value. Why? The timeline to potential production would be shortened, perhaps by years, (more drilling, less investor hand holding, perhaps skipping a PEA or a PFS). The scope of the project would become larger—more drilling across a wider footprint (a 108 sq. km land package).

The value of the royalties could double, triple, quadruple…. who knows? The share price at which NuLegacy gets taken out could also be meaningfully stronger. After all the company has been through, I don't think the Board would sell the company below C$0.30/share. At least not with the gold price at $1,730/oz (or higher). Readers are reminded that C$1.5 billon OceanaGold Corp. & giant natural resources fund Tocqueville own a combined 21.5% of the company.

Might there be a bidding war for NuLegacy?

In a best case example then, there could be multiple bidders for NuLegacy. This is not nearly as crazy as it sounds, especially if the gold price keeps going up, or if the next (fully funded) drill program hits the mark. If Barrick were to make a move, OceanaGold, Newmont, or even Tocqueville (they could hold out for higher price) might have something to say about it.

Those entities, and/or other mid-tiers/majors in Nevada or around the world would keep Barrick honest. Over the years NuLegacy has been in touch with several well-known names, but I never know who they're talking with at any given time. Make no mistake, Barrick is best positioned by virtue of having the most synergies with Red Hill, so it can afford to pay several more pennies per share if need be. That's how a share price of C$0.30+ becomes possible.

Bottom line, NuLegacy Gold (TSX-V: NUG) / (OTCQX: NULGF) is a high-risk exploration play, but I believe a good speculation. There's no better time to be buying high-risk exploration than when the prices of the metals being explored for are moving up.

As more attention is drawn to NuLegacy, its team, the undisputed safety of Nevada, the prolific nature of the Cortez Trend, etc., I think there's compelling relative and absolute value here that readers should consider investigating further.

Corporate Presentation

Peter Epstein is the founder of Epstein Research. His background is in company and financial analysis. He holds an MBA degree in financial analysis from New York University's Stern School of Business.

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Disclosures: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about NuLegacy Gold, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. [ER] is not directly employed by any company, group, organization, party or person. The shares of NuLegacy Gold are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

At the time this article was posted, NuLegacy Gold was an advertiser on [ER] and Peter Epstein owned shares in the Company.

Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he's diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.

Streetwise Reports Disclosure:
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( Companies Mentioned: NUG:TSX.V; NULGF:OTCQX, )




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