Gander Gold controls one of the largest land packages in new gold rush area of Newfoundland.
Gander Gold was a spinoff from the former Sassy Resources, now operating as Sassy Gold Corp.
Gander became a publicly trading company in early 2022.
From the Gander Gold website: “Gander Gold controls 1,850 sq. km across 5 major project areas in the heart of the Gander Gold Belt, including Gander North starting 15 km east of New Found Gold’s Keats Zone discovery, and Mt. Peyton in between the Keats Zone and Sokoman Minerals’ Moosehead discovery.”
As of February 2023, †he ownership of Gander Gold shares is roughly as follows:
Sassy Gold owns 48.3%
Eric Sprott owns 14.6%
In September of 2022, Gander raised approximately $4 million in a private placement at a price of 0.27 cents Canadian (for common shares), 0.31 cents flow-through shares, and charitable flow-through shares at $0.38. The underwriters got a total of 701,742 non-transferrable ‘finders’s warrants’ exercisable at prices of $0.27, $0.31 and $0.38 per share for a period of 12 months from the date of issue, in addition to fees totaling $228,542.42.
As of February 06, 2023…Gander’s market cap in the US in US dollars is just under $11 million Canadian. The average trading volume for the latest 3 months is just over 4,000 shares per day. At it’s current price of approximately 0.11 cents in USD in the United States, that’s less than $500 worth of shares per day. So, Gander Gold is a very illiquid stock at this time!
Gander Gold appears to have strategically located properties in Newfoundland in a high potential area, but trading volume is tiny…so liquidity is very low.
As of today (February 06 2023) the company hasn’t updated their website’s ‘corporate presentation’ since April 18, 2022. And, there hasn’t been a press release since September 27, 2022. So, we don’t really know what’s happening at Gander at this time.
But, as we write, the President/CEO/Director Mark Scott and his associates are getting ready to bring another Sassy Gold spinoff public called Galloper Gold. Galloper Gold, like Gander Gold has a land package in Newfoundland.
Leave a Reply