Profile image
By Midas Letter (Reporter)
Contributor profile | More stories
Story Views
Last Hour:
Last 24 Hours:

Evrim Resources Gets Significant Investment From Newmont Mining Corp

% of readers think this story is Fact. Add your two cents.

Evrim Resources Corp. (CVE:EVM) (OTCMKTS:EMRRF) (FRA:5EV) received massive validation from Newmont Mining Corp (NYSE:NEM) on their 100%-owned Cuale high sulphidation epithermal gold project in Jalisco, Mexico. Today, Newmont Canada Corporation—a wholly owned subsidiary of the industry giant—took the leap of faith by providing Evrim the financing it needs to continue what it started in Cuale.

The funds will come via negotiated private placement, in which full details were disseminated today. Newmont has agreed to purchase 4,848,401 shares of the Company at a price of $1.50 per share for gross proceeds of $7.273 million CDN. Proceeds from the private placement will provide funding for further exploration and assaying at the Cuale gold project, which generated significant buzz in April after releasing trenching results which included 193.5 meters grading 2.09 g/t gold from 92.3 meters along the hand trenching zone. A week later, Evrim Resources Trench 4 grades sampled 13.61 g/t gold over 106.2m from 29.4 meters along the trench. The stock shot up about ↑300% within a week as a result of the dual press releases.

A full eighty-percent of the gross proceeds from the Private Placement will be earmarked for the advancement of the Cuale gold project.

Overall, it’s difficult to underestimate the bullishness of today’s news. It’s not simply the premium that Newmont decided to pay, but rather the early-stage nature of the project in general, which is just entering the drill stage.

Newmont’s private placement stake comes at a ↑38.88% premium to Evrim Resources closing price of $1.08/share yesterday afternoon. Generally, most offerings are brokered at lower prices—especially with news that has been ‘priced-in’ for some time. Obviously, Newmont Mining is quite willing to finance a large portion of a more extensive drilling program. The funding guarantees Evrim’s Phase 3 exploration program will continue ahead with a planned 3,000 meter drill program, which is expected to commence in mid-October.

The deal gives Newmont Mining a host of rights and optionality in the partnership going forward. Such rights include: participation rights in any future equity financings to maintain pro rata ownership interest; a Right of First Offer on the Cuale gold project in the event Evrim seeks to divest all or part of its interest thereof; and the formation of a joint technical committee that collaborates the technical expertise of Newmont and Evrim to advance the project.

In the end, Evrim Resources CEO Paddy Nicol considers the agreement a “a strong endorsement for the potential of the Cuale gold project… natural evolution of that relationship” with Newmont Mining which was fostered years ago on unrelated projects. It’s hard to see it any other way, considering the nature of the premium paid.

Perhaps the deal also shows how starving the majors are for new mining discoveries, which are becoming few and far between. As Goldcorp Inc. Chairman Ian Telfer puts it, “Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down…. We’re right at peak gold here.” One wonders whether the premium disclosed today would have been brokered in years past.

Midas Letter will expand upon this story later on in 2018 as further material events warrant.

Original article: Evrim Resources Gets Significant Investment From Newmont Mining Corp

©2018 Midas Letter. All Rights Reserved.


Support BeforeitsNews by trying our natural health products! Join our affiliate program
Order by Phone at 888-809-8385 or online at

Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

APeX - Far superior to colloidal silver!  Destroys Viruses, Bacteria, Pathogens with Oxygen plus Silver!Supreme Fulvic - Nature's most important supplement! Vivid Dreams again!
Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!  
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

FINAL WARNING!   Diseases are EXPLODING!  Watch this Video about APeX and You'll THROW AWAY Your Colloidal Silver!   APeX destroys Viruses, Bacteria and other Pathogens with the power of Oxygen PLUS Silver!  Nobody else has a product like THIS!   See why the inventor hasn't been sick in 16 years and why you'll never hear about it on the FAKE NEWS!  Get some now and tell your friends about it too so we can reach more people!  

APeX Interview - Superior to Colloidal Silver from Lee Canady on Vimeo.

Learn about APeX Here and Get the 50 Page Report in PDF format.   Call us at 888-809-8385 to order by phone.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.