Investorideas.com

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

Gold Mining Company Completes New Merger

Source: Streetwise Reports

 

December 4, 2023 (Investorideas.com Newswire) Outcrop Gold and Silver Corp. has completed its acquisition of Zacapa Resources Ltd. Read on to see why analysts like this company's stock.


Outcrop Silver and Gold Corp. (OCG:TSX.V; OCGSF:OTCQX; MRG1:DB) announced in a press release that it has filed an amalgamation agreement for Zacapa Resources Ltd. (ZACA:TSX.V) with the TSX Venture Exchange. Zacapa Resources Ltd. is also a junior gold and copper exploration company operating out of the Southwestern U.S. with high-quality drill targets.

The company highlighted several details of the agreement, including the fact that shares were exchanged at a ratio of four Outcrop shares for every one share of Zapaca, options and warrants for Zacapa were exchanged for Outcrop's options and warrants on the same basis, and Outcrop now holds Amalco as a subsidiary with Outcrop holding its common shares.

In another press release, the company reported that it had issued 30,017,474 shares to former shareholders of Zacapa, a total of 7,727,630 warrants valued at between CA$0.30 and CA$2.72 to holders of Zapaca warrants, and a total of 2,537,500 options of Outcrop worth between CA$0.20 and CA$2.80 to the holders of Zapaca options.

Gold Speeding Ahead

Katusa Research recently reported on the gold market, which it estimates is back on the rise after a dip a few weeks ago. The research seemed especially optimistic about the commodity, noting that "things changed fast, when less than a fortnight later, gold ripped CA$150/oz and entered the overbought territory." The report cited global uncertainty created by rising conflicts and lower liquidity as factors contributing to gold's increasing value.

Rick Mills of Ahead of the Herd also seems to view the gold market positively, which he reviewed on November 18, 2023.

Mills believes a number of factors are creating a favorable market for gold, including lower interest rates and a falling dollar, conflict in the Middle East, high national debt, and buying by central banks.

Mills commented, "If we're right, and we are on the cusp of a global economic revival, the three metals I'd want to be invested in are gold, silver, and copper. Even better, the junior resource companies that own large Au, Ag or Cu deposits in safe jurisdictions that would be of interest to larger, deep-pocketed mining companies."

Chen Lin Visits Company

Chen Lin of What is Chen Buying? What is Chen Selling? visited Outcrop in 2023 and met with the Vice Minister of Mining in Columbia, the CEO of Outcrop, and examined the company's samples, which revealed high-grade silver intercepts, and the company's mining rig.

Stuart McDougall of Research Capital Corporation rated the company as a "Speculative Buy" in September of this year, with a target price of CA$0.60 per share. Research Capital cited a number of factors in the company's positive rating, including the merger with Zacapa and the company's previous maiden resource estimate for Santa Ana, which stated there was an estimated 387g/t silver and 1.98 g/t gold.

According to the company's investor report, the company has some catalysts to report, including ongoing drilling operations.

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 12.12% of the company.

According to Reuters, Executive Chairman Ian Slater owns 11.18% of the company with 24.49 million shares, Director Joseph Hebert owns 0.86% of the company with 1.88 million shares, Director Kevin Nishi owns 0.05% of the company with 0.10 million shares, and Director Paul Taggar owns 0.03% of the company with 0.07 million shares.

2176423 Ontario Ltd. owns 14.17% of the company with 31.04 million shares as a strategic investor, stated Reuters.

Reuters reports that institutional investors in the form of Timelo Investment Management Inc. owns 0.26% of the company with 0.57 million shares.

According to Reuters, the company has 219.03 million shares outstanding and 161.35 million free float traded shares, while the company has a market cap of CA$36.8 million and trades in the 52-week period between CA$0.12 and CA$0.43.

More Info:


Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com 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: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp


That's all it takes to get an article published on Investor Ideas - Learn More