Silver and Gold News From Sonora
Dave Doherty, President of Inform Capital passed along this news about the happenings in Sonora State, Mexico.
Timmins Gold Corp. (TMM.V) made, on Aug. 31, 2010, a non-binding proposal to the directors of Capital Gold Corp. (CGC.TO) to merge the two companies into one mid tier gold producer. If completed, would result in a merger of two equal-sized companies with regional and operational synergies that would benefit both companies' shareholders by creating a mid-tier, low-cost, Mexico-focused gold producer. Capital Gold currently has a market cap of $242 million and Timmins has a $260 million market cap. This provides the Sonora State of Mexico with the recognition of being more than just a prolific silver producing region, benefiting all companies in the area.
Sonora’s newest player, El Tigre Silver Corp. (ELS.V), has just completed their summer program of mapping and sampling, and returned some excellent grades of both gold and silver, with gold findings over a gram and half. The company is following the sampling with a 3,000 meter drill program, slated to begin in mid October. The initial target for El Tigre is an estimated 18 million tons, grading 5-6.5 ounces per ton, which will be able to mined from the surface to the 450 feet. The VP of Exploration, Eugene Schmidt, worked on the property in the 1980’s for Anaconda and accomplished a 30 month district wide work program, needless to say he is very familiar with the ground, providing the company with a straight forward successful work program. El Tigre have also outsourced with an investor relations firm to help with the dissemination of the abundance of news coming, as the company is currently trading at a discount to our last pp price. El Tigre currently has 22.5 million shares outstanding, and fully diluted 28.5, with a market cap is roughly $6 million. The company also has an office in Hermosillo, MX and is quite familiar with the business environment in Mexico.
El Tigre is highly speculative and I currently do not own any shares.
Timmins Gold Corp. (TMM.V) made, on Aug. 31, 2010, a non-binding proposal to the directors of Capital Gold Corp. (CGC.TO) to merge the two companies into one mid tier gold producer. If completed, would result in a merger of two equal-sized companies with regional and operational synergies that would benefit both companies' shareholders by creating a mid-tier, low-cost, Mexico-focused gold producer. Capital Gold currently has a market cap of $242 million and Timmins has a $260 million market cap. This provides the Sonora State of Mexico with the recognition of being more than just a prolific silver producing region, benefiting all companies in the area.
Sonora’s newest player, El Tigre Silver Corp. (ELS.V), has just completed their summer program of mapping and sampling, and returned some excellent grades of both gold and silver, with gold findings over a gram and half. The company is following the sampling with a 3,000 meter drill program, slated to begin in mid October. The initial target for El Tigre is an estimated 18 million tons, grading 5-6.5 ounces per ton, which will be able to mined from the surface to the 450 feet. The VP of Exploration, Eugene Schmidt, worked on the property in the 1980’s for Anaconda and accomplished a 30 month district wide work program, needless to say he is very familiar with the ground, providing the company with a straight forward successful work program. El Tigre have also outsourced with an investor relations firm to help with the dissemination of the abundance of news coming, as the company is currently trading at a discount to our last pp price. El Tigre currently has 22.5 million shares outstanding, and fully diluted 28.5, with a market cap is roughly $6 million. The company also has an office in Hermosillo, MX and is quite familiar with the business environment in Mexico.
El Tigre is highly speculative and I currently do not own any shares.