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Shell Summary for March 27, 2020

2020-03-27 20:15 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed down 9.85 points to 388.58 Friday, but it ended the week up 32.04 points. Al Kroontje's capital pool shell, Big Dougie Capital Corp. (STUV: halted), has arranged a potential qualifying transaction in which it will launch a Chilean mining junior. It has not yet finalized the structure of the QT. It will either acquire a private entity called Compania Recursos Andina Ltda. or acquire that entity's Chilean property. Regardless of the structure, the shell will pay $500,000 (U.S.) and issue 50 million shares. It has 12 million shares currently issued. On Sept. 30, 2019, the shell had working capital of $525,635. According to the QT news release, an unnamed insider of the shell has agreed to lend it $250,000 (U.S.) to help cover the cash consideration.

Compania Recursos Andina owns mineral claims totalling 8.7 square kilometres in the Atacama region in Northern Chile. There were small-scale surface mining activities on the claims until the early 1940s. The company attributes the departure of the surface miners to a flood that resulted from intense rainstorms. It is unclear why none of the miners returned after the rains subsided. In any case, historical mining grades reached highs of 65 grams per tonne gold, 12 per cent copper and 1.3 per cent cobalt.

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