Northern Empire Resources NM.v C$.97
Posted: Thursday Aug 2 8:09:31AM 2018
NM.v +.18 to C$1.54 Coeurs has made offer to exchange shares for Northern Empire. Exchange values each NM share at C$1.64 or .185 share of Coeurs. Not sure if I will hold converted shares or just sell and move on. I am disappointed that drilling didn't drive NM higher before buyout. I knew that was goal of mgmt but figured they would hit enough drill holes to markedly increase resource before selling. This seems early for Coeurs as well. Total ounces are only 709K inferred. This is hardly worth the time of day for Coeurs unless they figure they can consolidate NM with KORS deposit and have several big targets to explore plus Sterling mine permit to operate.
Posted: Monday Feb 26 7:40:28AM 2018
NM.v/NOEEE +.10 to C$1.37 Northern Empire continues to dribble out drill results. Expect this to continue for the rest of the year.
This PR covers only one drill hole but it's very positive. 123 meters of 1.41 gm/tonne is good anywhere. The best section is 38 meters of 3.09gm/tonne. Preliminarily tested and amenable to heap leach processing and shallow enough for open pit mining. Don't know the road conditions but this is easily within driving distance to take this ore to the Sterling Mine for processing. Daisy has 174K resource ounces so could be combined with Sterling and provide sufficient ore for a decent sized mine. Obviously NM wants to boost the ounces over 1 million and attract a bigger fish to take them out before restarting the Sterling but a restart to provide cashflow could also happen.
Posted: Tuesday Feb 20 8:59:32AM 2018
NM.v +.02 to C$1.38
Northern Empire has the funds to finance a full 15,000 meter drill program in 2018. I expect them to dribble out results every few weeks for the rest of the year. The PR today shows three new drill holes, all on the edge or outside of previously known mineralization. They are all at Sterling, the past producing permitted mine site. Current resource is 209K oz so it would be a small mine but if they can add enough ounces, it should make Sterling an attractive target for an acquirer. Here is a map of the Sterling deposit and the new holes:
Posted: Monday Jan 22 10:17:07AM 2018
NM.v/NOEEE +.06 to C$1.33 Northern Empire continues to gain ground. This story is a recap of the positives for the stock going forward. No new info but a good summary of the bull case.
Posted: Thursday Jan 11 10:16:43AM 2018
Northern Empire Gold is cashed up with C$18 million and set for a big drill program in 2018. Current resource is 700K oz of gold. Expect that number to rise well above 1million oz after drill program is complete. 15,000 meter program is planned for 2018. Drill results so far have been excellent. Today's PR only outlines 3 holes but all show mineralization and best one is 5.3 meters of 16.52 gm/tonne. Sterling Mine is a past producing mine that shut down during low $300 gold prices. Has 200K resource and Empire thinks there is much more there.
Posted: Tuesday Nov 28 7:16:07AM 2017
+.03 to C$.99 Northern Empire completed a C$15million financing today at C$.90. This should fund drilling to expand the resource ounces at their permitted gold mine site as well as at least one more prospect. The goal is to increase the resource ozs past the current 719K before starting mining.
Vancouver, British Columbia--(Newsfile Corp. - November 28, 2017) - Northern Empire Resources Corp. (TSXV: NM) (the "Company" or "Northern Empire") is pleased to announce that it has closed its previously announced offering of 16,666,667 common shares of the Company (the "Common Shares") at a price of $0.90 per Common Share (the "Offering Price") for aggregate gross proceeds to the Company of $15,000,000.30 (the "Offering"). The Offering was completed by a syndicate of underwriters led by Cormark Securities Inc., as lead underwriter and bookrunner, and including GMP Securities L.P., Canaccord Genuity Corp., Haywood Securities Inc. and M Partners Inc. (together, the "Underwriters"). The number of Common Shares sold by the Company includes the exercise of the over-allotment option, in full, by the Underwriters.
As consideration for the services rendered by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash commission of 6.0% of the gross proceeds raised from the sale of the Commons Shares other than in connection with certain president's list purchasers in which case the fee was reduced to 1.5%.
The Offering is subject to the final approval of the TSX Venture Exchange.
The Common Shares issued under the Offering were offered by way of a short form prospectus dated November 21, 2017 (the "Prospectus") in all of the provinces of Canada, except for Québec. Copies of the Prospectus and documents incorporated by reference therein are available electronically under the Company's profile on SEDAR at www.sedar.com.
The proceeds of the Offering will be used in the manner described in the Prospectus.
Insiders of the Company have subscribed for an aggregate of 4,161,212 Common Shares under the Offering. The issuance of Common Shares to insiders pursuant to the Offering (the "Insider Participation") is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of any Insider Participation.
About Northern Empire
Northern Empire Resources (TSXV: NM) is a well-financed gold exploration company focused on a large Nevada land package that hosts not only numerous past-producers with significant exploration upside, but also a turn-key open pit operation called the Sterling Mine. The Company is backed by founders of Newmarket Gold, which recently sold to Kirkland Lake Gold for +$1Bn, and Kaminak Gold, sold to Goldcorp for $520M. The Company has recently completed successful confirmation drilling at the Sterling mine and is set to begin a significant exploration program early in 2018.
ON BEHALF OF THE BOARD OF NORTHERN EMPIRE RESOURCES CORP.
"Michael G. Allen"
President, CEO and Director
For further information contact:
Michael G. Allen, President, CEO and Director
Tel: 604 646 4524
Or visit our website: www.northernemp.com
Read more at http://www.stockhouse.com/news/press-releases/2017/11/28/northern-empire-completes-15-million-bought-deal-financing#KaErC7zMQsv5hATt.99
Posted: Saturday Oct 14 2:29:04PM 2017
Northern Empire is a gold explorer focusing on Nevada. They bought a permitted gold mine with 709K inferred ounces of gold. Only 209K ounces are at the permitted mine site so the potential production from an open pit heap leach mine would be 30-40K/yr. The mine previously was in production so the mine could be restarted relatively easily. However the mgmt team is after higher valuation. They believe that their land package has potential for much higher gold resources and have already started drilling based on past drilling results and surface sampling. Their initial results have been good. https://finance.yahoo.com/news/northern-empire-reports-first-drill-110000372.html
Nevada gold mining is typically done with very low grades of gold. Northern Empire has higher grades of gold in the 2 to 3 gm/ton range.
Nevada is the highest producing state for gold in the US. Not only does Northern Empire have a previously producing mine but they are very close to a large past producing Bull Frog mine that produced 2.3 million oz.
Northern Empire has experienced management that has a track record of developing properties and value prior to selling out.
Here is the latest presentation:
Normally I like producers with 1 million ounces in reserves and 100K oz/yr production but this looks like a good candidate to end up with that size resource and production. I like the permitted mine, which could be restarted with relatively low effort. But if the drilling results continue like the first four, Northern Empire should end up with a much higher valuation.
53.2 million shares fully diluted X C$.97 = C$51 million market cap