00:59:35 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Columbus Gold Corp
Symbol CGT
Shares Issued 135,807,586
Close 2014-10-17 C$ 0.405
Market Cap C$ 55,002,072
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Lundin refreshes Columbus Gold buy

2014-10-20 18:18 ET - In the News

Brien Lundin, in the October, 2014, edition of the Gold Newsletter, refreshes his buy of Columbus Gold Corp., recently 44 cents. Mr. Lundin said buy Columbus three times between December, 2012, and June, 2014, at prices ranging from 26 cents to 41 cents. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $4,336. The company recently closed a $5.36-million non-brokered private placement of 13.4 million shares at 40 cents with an investor that Mr. Lundin does not name, but he notes the investor is prominent and based in the United States. Mr. Lundin says the offering had originally included a convertible warrant feature but the company eventually renegotiated to prevent unnecessary dilution. Columbus is in the middle of a 25,700-metre drilling program at its Montagne D'Or gold deposit in French Guiana. The company designed the program to prove up as much of the deposit's 4.31-million-ounce inferred resource as possible. Columbus recently added a third rig and has about 10,500 metres remaining. The company's joint venturer, Nord Gold NV, is financing the drilling as part of the $30-million (U.S.) it has committed in exchange for a 50.01-per-cent interest in Montagne D'Or.

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