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Patriot Gold Corp. (PGOL)

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0.04120.0000 (0.00%)
As of 12:01PM EDT. Market open.

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  • R
    Patriot Gold Corp Due Diligence Report (Gold Royalty & Exploration Company)

    All information below can be found at

    Stock Ticker: PGOL - Same ticker for Canadian & US Exchanges
    Price: $0.20 CDN & $0.14 USD
    Common Shares: 74,319,957
    Insider Holdings: 36,752,750 or 49.5% - See Annual Information
    Company Website:

    Basic description: PGOL owns 3 royalties (1 producing) and 3 exploration properties. The producing Moss Mine has a 10 year life (started in 2018), which is currently being increased by Northern Vortex(NEE.V). The company clearly states in their most recent presentation that they want to ramp up production by 10 fold, which would mean multi million dollar royalties for Patriot Gold every quarter. NEE.V is also increasing it’s resource as we speak, so royalty payments will for sure exceed the 10 years -

    PGOL only started trading on the CSE at the end of summer 2020, so volume has been low, compared to the US side which trades daily and in large volume. But the Canadian side will catch up as time goes on and more profitable quarters are announced. To get an accurate market depth, you want to compare what’s shown on the US side and it translates to the Canadian side at roughly 1.30 exchange rate. The CSE might not show all those bids/asks because of the alternate trading systems.

    Financials (Ending September 30th 2020) - All numbers are in US Dollars

    Cash: $583,866
    Marketable Securities: $224,554
    Royalty Receivables: $1,159,856
    Prepaid Expenses: $109,339
    Long Term Assets: $300,000
    Total Assets: $2,377,615

    Accounts Payable: $171,852
    Total Liabilities: $171,852

    9 Month Revenue Performance
    Royalty payments: $1,734,325
    Net Income: $1,107,495
    Earnings Per Share: $0.015 USD or $0.0193 CAD

    Note: Patriot Gold has set a budget of $1,000,000 for it's G&A + exploration expenses in 2020. This will continue on a yearly basis, so investors know what the company intends to spend in the fiscal year.

    Royalty Interests

    Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company has a 3% net smelter return royalty on the Moss Mine in Arizona. For the nine months ended September 30, 2020 and 2019, the Company earned royalties of $1,734,325 and $973,271, respectively. As of September 30, 2020 and December 31, 2019, the Company had Royalties Receivables of $1,159,856 and $487,060, respectively.

    Pursuant to the Bruner Purchase and Sale Agreement with Canamex Resources, the Company has a 2% net smelter return royalty on the Bruner Gold/Silver mine in Nevada. As of September 30, 2020, no royalties have yet been earned. (This asset has a high grade proven gold/silver resource)

    In March 2019, the Company purchased a Vanadium Oxide royalty interest from a related party. In exchange for a non-refundable payment of $300,000, the Company will receive royalties based on the gross production of Vanadium Oxide (“Vanadium”) from a bitumen deposit covering several oil sands leases in Alberta. For each barrel of bitumen produced from the specified oil sands until March 21, 2039, or upon termination of mining, whichever is earlier, the Company will be paid a royalty equal to 25 grams of Vanadium per barrel of bitumen produced, multiplied by the price of Vanadium Pentoxide 98% min in-warehouse Rotterdam published on the last business day of the month in which the gross production of bitumen occurred. As of September 30, 2019, $240,000 has been paid, and the remaining $60,000 was paid in installments through December 31, 2019. As of September 30, 2020, no royalties have yet been earned.

    Mineral Properties

    Windy Peak Property

    The Windy Peak Property, (“Windy Peak”) consists of 114 unpatented mineral claims covering approximately 2,337 acres, 3 miles NNE of the Bell Mountain and 7 miles east of the Fairview mining district in southwest Nevada. As of September 30, 2020, the company has incurred approximately $801,025 of exploration expenses on the Windy Peak Property, and$113,816 and $124,056 were spent for the nine months ended September 30, 2020 and 2019, respectively.

    Rainbow Mountain Property

    In the fall of 2018, after conducting initial reconnaissance of the Rainbow Mountain, the Company acquired the Rainbow Mountain Property (“Rainbow Mountain”). This early-stage exploration project was secured through staking and filing the associated paperwork and fees with the BLM and County.

    The Rainbow Mountain gold project consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres, located approximately 23 km southeast of Fallon, in the state of Nevada. Access to the project area is by paved highway, followed by a short stretch of gravel road.

    Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in pe
  • R
    The merger between NEE and EGLD is now complete. This is great news for PGOL because the new company will be better funded and allow for increase production, plus prove up more gold/silver ore at Moss.

    Eclipse Gold receives court OK for Northern Vertex deal

    2021-02-09 21:01 MT - News Release

    See News Release (C-EGLD) Eclipse Gold Mining Corp

    Mr. Kenneth Berry of Northern Vertex reports


    Eclipse Gold Mining Corp. has received a final order from the Supreme Court of British Columbia, approving the previously announced plan of arrangement between Eclipse and Northern Vertex Mining Corp. pursuant to which Northern Vertex will acquire all of the issued and outstanding common shares of Eclipse. Pursuant to the transaction, Eclipse shareholders will be entitled to receive 1.09 common shares of Northern Vertex in exchange for each common share of Eclipse held. Please see the joint news releases of Northern Vertex and Eclipse dated Dec. 7, 2020, Dec. 21, 2020, and Jan. 14, 2021, for further details regarding the transaction, as well as Eclipse's management information circular dated Dec. 30, 2020, available under Eclipse's corporate profile on SEDAR.

    Receipt of the final order follows Eclipse's special meeting of securityholders, held on Feb. 4, 2021, where the transaction was overwhelmingly approved by 99.82 per cent of the votes cast by the shareholders of Eclipse and 99.83 per cent of the votes cast by the shareholders and the optionholders of Eclipse voting as a single class. Closing of the transaction remains subject to customary closing conditions, including final approval of the TSX Venture Exchange.

    The transaction is currently anticipated to close on Feb. 12, 2021. Eclipse has applied to the exchange to delist its common shares from trading on the exchange following the closing of the transaction. Eclipse will request that trading in the Eclipse shares will be halted after market close on Feb. 11, 2021. Assuming the transaction closes on Feb. 12, 2021, the common shares of Eclipse are expected to be delisted after market close on or about Feb. 16, 2021.

    About Northern Vertex Mining Corp.

    Northern Vertex owns and operates the Moss mine, currently the largest pure gold and silver mine in Arizona. Focused on low-cost gold and silver production, the company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss, the company intends to consolidate additional producing and exploration gold assets within the western United States. Through mergers and acquisitions, Northern Vertex has a corporate goal to become a mid-tier gold producer.

    About Eclipse Gold Mining Corp.

    Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation, epithermal, gold system. The company brings together a team with a record of extensive mergers and acquisitions and nine successful buyouts totalling $4.6-billion.

    We seek Safe Harbor.
  • R
    Drilling Commencing at Patriot Gold's Windy Peak Gold Project in Nevada

    2021-01-06 07:04 MT - News Release

    LAS VEGAS, NV / ACCESSWIRE / January 6, 2021 / Patriot Gold Corp. (CSE:PGOL)(OTCQB:PGOL) - Patriot Gold Corp. ("Patriot") today announced that a drill rig and crew are on-site at Patriot's Windy Peak gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows a core drilling program executed by Patriot at Windy Peak in the autumn of 2018, and a reverse circulation drilling program executed by Patriot in the winter of 2019. Patriot's 100%-owned Windy Peak gold project is situated in a gold-producing region which hosts such deposits as the Paradise Peak and Rawhide.

    About Patriot Gold Corp

    Patriot is exploring its 100%-owned gold projects in Nevada, which include the Windy Peak gold project, Rainbow Mountain gold project, and Vernal gold project. Patriot owns a 3% royalty in the Moss Mine in Arizona, now in commercial production. Patriot also owns a 2% royalty in the Bruner gold project in Nevada.

    On Behalf of the Board of Patriot

    Trevor Newton
    President, Director
  • R
    After a couple years of doing nothing with Burner, CSQ is finally selling this fantastic gold project off to another company which should be capable of putting it into production. PGOL owns a 2% NSR on this asset. For more information, see Canamex's website.
    Canamex signs exclusivity deal for Bruner project

    2021-04-06 11:32 MT - News Release

    Mr. David Vincent reports


    Canamex Gold Corp. has provides an update regarding an exclusivity agreement on the Bruner gold project executed on March 31, 2021, and an update on the status of its secured convertible debentures issued by the company on Oct. 25, 2016, and Dec. 23, 2016, and which matured on Oct. 25, 2019, and Dec. 23, 2019, respectively.

    Exclusivity Agreement

    On March 31st, 2021 the Company executed an Exclusivity Agreement with a third party, for the potential sale and purchase of the Company's 100% controlling beneficial interest in the Bruner Gold Project (the "Transaction").

    Under the Exclusivity Agreement, the terms of the Transaction are non-binding and indicative, until after completion of positive due diligence and completion of other customary closing conditions, including approval by the Board and the shareholders of the Company, and the execution of a definitive binding agreement.

    The Company will keep all stakeholders updated, on the progress of the Transaction as milestones are completed.

    If a definitive binding agreement is executed with regards to the Transaction, then the Gold Forward sale Agreement with MetalStream (refer below) will be terminated by the Company, being a condition precedent.

    Forebearance Agreement

    The Company is pleased to announce that a Forbearance Agreement dated April 1st, 2021 has been executed by the Company and Concept Capital Management Ltd. ("Debenture Holders Agent").

    The Debenture Holders Agent has agreed to further forbear from exercising their rights and remedies under the Debentures and related security documents (collectively, the "Loan Documents") arising from the delays by the Company in paying interest and repaying the principal of the Debentures, provided that the Outstanding Obligations under the Debentures are repaid on or before August 31st, 2021.

    If the Company fails to make full payment, including any agreed penalties, on or before August 31st, 2021, then the Debenture Holders Agent shall be entitled, at their sole discretion, to enforce their rights under the Loan Documents.

    Gold Forward Sale - Update

    On July 15th, 2020 the Company provided an update regarding the status of its Gold Forward Sale Agreement (the "Agreement") with MetalStream Ltd ("MetalStream"), originally announced January 27, 2020 and an extension announced April 23, 2020.

    The Company advised that the initial first tranche payment was increased to US$5,500,000; and was delayed due to Covid-19 related banking and logistic delays, experienced by MetalStream. Despite these Covid-19 related delays, the Company and MetalStream remain fully committed to the Agreement; and the first tranche payment is expected to be completed before August 31st, 2021.

    The subsequent second and third tranches payable under the Agreement were also amended as follows:

    a) Second tranche payment of US$5,000,000 was increased to US$5,500,000.
    b) Third tranche payment of US$25,000,000 was reduced to US$24,000,000.
    The Company proposes to use the above proceeds from its Agreement with MetalStream, to settle the interest and any penalties, and repaying the principal of the Debentures, on or before August 31st, 2021.

    If a definitive binding agreement is executed with regards to the Bruner Gold Project Transaction announced above, then the Gold Forward sale Agreement with MetalStream will be terminated by the Company, being a condition precedent.

    The Company will keep all stakeholders updated, on the progress of the Gold Forward Sale transaction with MetalStream.

    About Canamex

    Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ) and is engaged in pre-development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project.

    The PEA is based primarily on indicated resources, but also included about 10% inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be r
    Canamex Gold Corp owns 100% of their mine in Bruner, Nevada. The project is estimated to have total resources of around 391,000 oz of gold and 3,641,000 oz of silver.
    Canamex Gold Corp owns 100% of their mine in Bruner, Nevada. The project is estimated to have total resources of around 391,000 oz of gold and 3,641,000 oz of silver.
  • R
    News: Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada

    Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada
    December 10, 2020

    Patriot Gold Corp ("Patriot") provided the following update today to shareholders.

    Patriot Gold today announced that a drill rig and crew are on-site at Patriot's Rainbow Mountain gold project near Fallon, Nevada. A drilling program is planned to test several gold targets. This reverse-circulation drilling program follows sampling and other field work conducted by Patriot. Patriot's 100%-owned Rainbow Mountain gold project is situated on the margins of the Walker Lane belt and the Basin and Range province.

    The CSE has neither approved nor disapproved the information contained herein.
    Company news
    Company news
  • R
    December 21, 2020 Kitco Interview With Northern Vertex CEO (Company That Pays PGOL's 3% Royalty At The Moss Mine)

    Key Parts: 3:30 - Drilling 32,000m, going to see a significant increase in the total resource

    10:25 - New 43-101 resource to come out anytime between January to June

    12:50 - CEO believes that this will be a multi million ounce deposit Note:

    Keep in mind that every 500,000 ounces mined, at an average price of $1,900, is $28.5 Million USD in royalty payments to PGOL.
  • R
    Was able to find an institution that hold 3 million shares of PGOL, company called Royalty Streams Corp. Had the link but Yahoo won't let me post it on here. But now insider/institutional holdings are at 50%.
  • R
    Northern Vertex announced their first quarter results this week. 9,912 ounces of gold mined, so at say $1750 average, that's $17.346 million USD. At a 3% royalty to PGOL, we get $520k USD for the quarter. Patriot's next quarter should be out at the end of May.
  • R
    CSQ (Canamex Gold corp) had an update today. Things are moving forward with their Bruner project, just some delays in the financing. But if we can get that royalty paying by 2022, the dual payments will take PGOL to a whole other level.
  • A
    What is the strategy of PGOL management?
  • R
    Some good info for today. PGOL technicals are showing a 100% buy rating -

    and NEE reported it's next quarter earnings. $23.4 million in revenue, so that's a nice $700K payment to PGOL, not considering the $1.2 million in receivables on the books.
    Trading Signals for Patriot Gold Corp with Buy, Sell, Hold recommendations, technical analysis, and trading strategy.
    Trading Signals for Patriot Gold Corp with Buy, Sell, Hold recommendations, technical analysis, and trading strategy.
  • R
    Amazing how people are selling this stock. They really have no idea how PGOL works. Positive cash flow for over a decade, guaranteed, what other micro cap under$15 million can say that?
  • J
    So drill rig on site for the past seven months. No drill results.

    Still looking? Maybe 20 feet of 50,000 grams per ton of palladium from a buried space ship?

    Must be something to keep it such a secret.
  • R
    Northern Vertex finally released a new company presentation today. I checked last week and it wasn't there. Good information and some timelines on it. PGOL has a 3% NSR on Moss, so getting more drill results this year and an updated 43-101 will add significant value to the royalty on this property.
  • A
    Anybody hear anything on PGOL?
  • A
    well well well. $70k Director fees implemented. How wonderful for shareholders.
  • R
    Update on the CSE regarding PGOL. Looks like Windy and Rainbow are both drilled, pending assay results.
  • R
    PGOL January update. Can't post it on this outdated Garbage site, so people will have to check the CSE website for details, or go to Stockhouse or CEO stock channels.
  • g
    pretty sad that almost all of the money patriot gets from its royalty goes toward ceo salary...this is truly a lifestyle company
  • A
    no pulse.