This morning we received an NR from GoldON Resources (TSX-V:GLD) and I feel that this is a good time to offer a little refresh on the GoldON story. GoldON is a gold project generator focused on Ontario where it has 5 different projects. The company is currently focused on its West Madsen Project which is adjacent to Pure Gold’s Madsen Mine. GoldON has West Madsen under option from Great Bear Resources (TSX-V:GBR) and GBR VP-ex Bob Singh is a technical advisor with GoldON. Mr. Singh is helping GoldON with drill targeting and he has approved the drill targets for the upcoming maiden drill program at West Madsen.
In addition, Rimini Exploration will be the drillers for this maiden program at West Madsen and the company is fully funded for drilling with C$1.4 million in cash and no debt. Expect drilling to begin at West Madsen in May as the local First Nations have approved the company to get back to work and mining is considered an essential service in the Canadian province of Ontario.
I expect GoldON will be very busy over the coming months and there should be no shortage of news flow after a relatively quiet March/April.
“We are thrilled to be preparing for our initial drilling campaign before the first anniversary of optioning the West Madsen Project from Great Bear Resources. The Ontario Government has deemed mining and exploration an essential business and we will be commencing the drill program as soon as logistically possible.” ~ Mike Romanik, CEO GoldON Resources
It’s important to remember that GoldON has less than 20 million shares outstanding and a free trading float closer to 11 million. In addition, GoldON has seen strong insider buying in recent months and a couple of the company’s other projects (Bruce Lake and Slate Falls) have attracted the interest of multiple parties. I expect we will hear more about Bruce Lake and Slate Falls in the near future as GoldON is fully underway with the maiden drill program at West Madsen.
I own GoldON shares and I have bought as high as $.90 and as low as $.26 because I see strong potential for new all-time highs to be reached (above C$1.15) over the next several months.
Disclaimer:
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. GoldON Resources Ltd. is a high-risk venture stock and not suitable for most investors. Consult GoldON Resources Ltd.’s SEDAR profile for important risk disclosures.
EnergyandGold has been compensated for marketing & promotional services by GoldON Resources Ltd. so some of EnergyandGold.com’s coverage could be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.