Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Mining Company Strikes Gold in Idaho

Source: Streetwise Reports


December 4, 2023 ( Newswire) NevGold has released the results from its Nutmeg Mountain property, located in an increasingly lucrative region of Idaho. Read on to see why analysts like this company's stock.

NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) has announced in a press release that it has oxide and gold drilling results from the Nutmeg Mountain project, located in Idaho. The company reported that these results are primarily from drill hole NMD0004.

Brandon Bonifacio, the CEO of NevGold, stated, "The further results from our drilling at Nutmeg Mountain continue to highlight the at-surface, oxide gold mineralization building on the recently announced 2023 MRE at the Project." He also commented on the results of the neighboring Hercules Silver project: "We strongly believe that we have similar potential at Nutmeg Mountain, which we will continue to explore, and we will look to leverage our technical and operating expertise in the area to unlock value for our shareholders."

NevGold stated key highlights of these results were as follows:

The company reports that it is taking further steps in light of these results, including a metallurgical study on drill hole NMD0004. The company has also stated that it is confident in its position in Washington County, which is becoming an increasingly lucrative mining district.

Gold Prices Climbing

Katusa Research provided a look at the gold market, where gold has risen steeply in the past few weeks. According to the report, global conflict is one of the factors driving up gold, though there is a possibility that it could be corrected down.

The report stated, "My team and I are prepared for both scenarios, and I continue to monitor the entire gold and silver market, looking for alligator-type opportunities in the public markets."

Rick Mills of Ahead of the Herd also reviewed the gold market and stated the central banks and high national debt, in addition to global conflicts, have been driving up the price of gold. Mills commented that central banks "bought a record 1,136 tonnes of gold last year and followed that up with another 228t in Q1, the most ever in a first quarter."

NevGold Turning Higher

Technical Analyst Clive Maund reviewed NevGold in March of 2023 and rated the company as a "Buy" for potential investors. Maund commented on the company's encouraging stock position: "We can see that it is in the very late stages of a Cup & Handle base with this interpretation of what is going on being very strongly supported by the powerfully bullish volume pattern of recent weeks." Maund continued to say that the company had a "strong upside volume starting to drive the Accumulation line steeply higher."

Maund provided a short update on May 4, 2023, and said that "Nevgold is now turning higher after reacting back further than expected."

The company has some catalysts to report, according to its investor presentation, including a Phase 2 program for Limousine Butte and Nutmeg Mountain.

Ownership and Share Structure

NevGold provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 30%of the company.

Institutions own approximately 24.60% of the company, with 16.67 million shares in the form of Gold Mining Inc., reports Reuters.

According to the company, there are 75 million shares outstanding with 38.07 million free float traded shares, while the company has a market cap of CA$23 million and trades in the 52-week period between CA$0.25 and CA$0.48.

More Info:

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy: