Allstocks.com's Bulletin Board Post New Topic  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Asia, China and Canadian Stocks » PGOL - Patriot Gold Corp (Royalty Company)

 - UBBFriend: Email this page to someone!    
Author Topic: PGOL - Patriot Gold Corp (Royalty Company)
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
Patriot Gold Corp Due Diligence Report (Gold Royalty & Exploration Company)

All information below can be found at www.Sedar.com

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: www.patriotgoldcorp.com

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 - https://www.northernvertex.com/investors/presentations/

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

ASSETS
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

LIABILITIES
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 perpetuity. As of September 30, 2020, the company has incurred approximately $101,208 of fees and exploration expenses on the Rainbow Mountain Property, and $13,194 and $2,160 were spent for the nine months ended September 30, 2020 and 2019, respectively.

Bruner and Vernal Properties

On May 28, 2010 the Company entered into an exclusive right and option agreement with Canamex Resources Corp. (“Canamex”) whereby Canamex could earn a 70% (or up to 75% if a bankable feasibility study is performed) undivided interest in the Bruner, and Bruner Expansion properties, herein after collectively referred to as the “Bruner Properties”. Upon the completion of the terms of the Agreement by Canamex, and upon earning its initial interest, the parties agreed to negotiate a definitive joint venture agreement in good faith to supersede the agreement. During the first half of 2016, it was determined by the Company that Canamex had successfully earned a 70% interest in the Bruner Property according to the terms of the Bruner Option Agreement.

On April 25, 2017, the Company and Canamex Resources Corp. entered into a purchase and sale agreement (“Bruner Purchase and Sale Agreement”) whereby Canamex Resources purchased Patriot Gold's 30% working interest in the Bruner gold/silver mine for US$1,000,000 cash. The Company retains a two percent net smelter return (“NSR”) royalty on the Bruner properties including any claims acquired within a two-mile area of interest around the existing claims. Additionally, Canamex has the option to buy-down half of the NSR royalty retained by Patriot for US$5 million any time during a five-year period following closing of the purchase and sale agreement.

As of September 30, 2020, the Company has incurred approximately $89,616 of accumulated option and exploration expenses on the Vernal property. During the nine months ended September 30, 2020 and 2019, the Company incurred no exploration expenses on the Vernal property, respectively.


You can get free Level 2(Market Depth) for each exchange at the following websites:

Canada: https://www.thecse.com/en/listings/mining/patriot-gold-corp

USA: https://www.otcmarkets.com/stock/PGOL/quote#level-2

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
News: Drilling to Commence at Patriot Gold's Rainbow Mountain Gold Project in Nevada

http://www.patriotgoldcorp.com/news/?id=118&title=Drilling-to-Commence-at-Patrio t-Golds-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.

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
Some extra information here. PGOL is required to update shareholders via TheCSE website on a monthly basis. Link below, along with a couple updates for January (See Form 7)

https://www.thecse.com/en/listings/mining/patriot-gold-corp

Report on Business

1. Provide a general overview and discussion of the development of the Issuer’s business and operations over the previous month. Where the Issuer was inactive disclose this fact.

Patriot has completed a drilling program on its Rainbow Mountain project and is awaiting assay results.

2. Provide a general overview and discussion of the activities of management.

We are moving forward on certain field operations on the Rainbow Mountain and Windy Peak projects. We are also vetting potential projects.

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
December 21, 2020 Kitco Interview With Northern Vertex CEO (Company That Pays PGOL's 3% Royalty At The Moss Mine)

https://www.youtube.com/watch?v=_-xM-QxuY5A

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.

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
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

www.PatriotGoldCorp.com

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
PGOL Insider/Institutional Holdings at 50%. Information can be found on Patriot Gold Corp’s most recent annual information sheet on Sedar and Royalty Streams most recent financials. See links below. Royalty Stream also verifies in their presentation that the Moss mine has a very long production life, with upside.
Robert D. Coale Common Stock 731,250 (1) 1%
Trevor Newton Common 19,921,500 (2) 26.8%
Series A Preferred Stock 290,000 100%
Zachary Black Common Stock 500,000 (3) 0.7%
Directors and Officers as a Group Common Stock (3 individuals) Common Stock 21,152,750 28.5%
Directors and Officers as a Group Series A Preferred Stock (3 individuals)
Series A Preferred Stock 290,000 100%
KF Business Ventures, LP Common Stock 6,000,000 8.1%
Ron Daems Common Stock 9,600,000 12.9%
Royalty Stream Corp. 3,000,000 0.4%

https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036491

https://www.royaltystreams.com/investors/

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
https://www.barchart.com/stocks/quotes/PGOL/opinion

Patriot Gold Corp (PGOL)
0.1605 +0.0001 (+0.06%) 01/15/21 [OTC US]
BARCHART OPINION for Fri, Jan 15th, 2021Tutorial Alerts Watch Help
Overall Average:
100% BUY
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.

Composite Indicator
TrendSpotter
BUY
Short Term Indicators
20 Day Moving Average
BUY
20 - 50 Day MACD Oscillator
BUY
20 - 100 Day MACD Oscillator
BUY
20 - 200 Day MACD Oscillator
BUY
20 - Day Average Volume: 141,730 Average: 100% BUY
Medium Term Indicators
50 Day Moving Average
BUY
50 - 100 Day MACD Oscillator
BUY
50 - 150 Day MACD Oscillator
BUY
50 - 200 Day MACD Oscillator
BUY
50 - Day Average Volume: 115,360 Average: 100% BUY
Long Term Indicators
100 Day Moving Average
BUY
150 Day Moving Average
BUY
200 Day Moving Average
BUY
100 - 200 Day MACD Oscillator
BUY
100 - Day Average Volume: 122,912

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
chiliandrillman
Member


Rate Member
Icon 1 posted      Profile for chiliandrillman     Send New Private Message       Edit/Delete Post   Reply With Quote 
Two important articles out yesterday and today.

PGOL will earn $700K USD In Q4. New Update From CSQ Regarding Bruner:

1) Northern Vertex reported revenue of $23.4 million USD. That means $700,000 USD is owed to PGOL for Q4 2020

https://www.newswire.ca/news-releases/northern-vertex-reports-revenue-of-us-23-4 -million-and-production-of-12-401-gold-equivalent-ounces-for-quarter-ending-dece mber-31-2020-815331581.html

2) Canamex Gold Corp has updated the markets after several months and their Bruner project should be moving forward this year, once some debt issues are resolved. PGOL has a 2% royalty on this property and there is around 500,000 ounces of gold proven.

https://www.stockwatch.com/News/Item?bid=Z-C:CSQ-3018883&symbol=CSQ®ion=C

--------------------
A proper due diligence will lead you into prosperity

Posts: 474 | From: Canada | Registered: Jun 2008  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2019 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share