Brien Lundin, in the July, 2015, edition of the Gold Newsletter, refreshes his buy of Almaden Minerals Ltd., recently $1. Mr. Lundin said buy Almaden 14 times between September, 2002, and March, 2015, at prices ranging from 55 cents to $4.27. Assuming a $1,000 investment for each of the 14 buys, the $14,000 position is now worth $9,578. The company's shareholders have approved spinning out the company's early-stage exploration portfolio into Almadex Minerals, which will begin trading on the TSX Venture Exchange shortly under the ticker symbol AMZ. Almaden shareholders will receive 0.6 of an Almadex share for each Almaden share held. The spin-off company will have $3-million in cash and 1,597 ounces of gold bullion. In other Almaden news, Mr. Lundin says the company is making progress on its feasibility study for Ixtaca, the resource-hosting deposit on the Tuligtic gold project in Puebla state, Mexico. The newsletter editor notes that recent metallurgical work indicates strong recoveries for the deposit's limestone and blackshale domains, and reasonable flotation and gravity recoveries for volcanic ash materials. Mr. Lundin concludes Almaden offers good value at current levels and it remains a buy.