West Point Gold Stock Price, News & Analysis

Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has announced a marketing agreement with i2i Marketing Group, of Key West Florida. The initial term is one month, pending TSX Venture Exchange approval, with a US$250,000 fee. The agreement may continue month-to-month with additional agreed expenditures. i2i will develop an advertising campaign focusing on increasing investor awareness through online platforms and direct mail marketing. The company confirms no securities will be issued to i2i for its services, and i2i currently owns no company securities and operates at arm's length.

Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has announced its upcoming name change to West Point Gold Corp., along with a new stock symbol change to 'WPG' on the TSX Venture Exchange. The changes will take effect at market open on December 23, 2024. The company's ISIN and CUSIP numbers will update to CA95538Q1037 and 95538Q103, respectively. Existing shareholders and warrantholders won't need to take any action, and their certificates will remain valid without requiring exchange.

Gold79 Mines has announced the appointment of Quentin Mai as CEO and Director, effective December 13, 2024. Mai, who retains his position as President, replaces Derek Macpherson, who remains Executive Chairman and Director. The company also announced that Ehsan Agahi has stepped down as Director.

Mai brings over 25 years of capital market and corporate communications experience, notably including a 10-year tenure at Corvus Gold until its C$570 million sale to AngloGold Ashanti. Previously, as VP Business Development at International Tower Hill, he helped raise over C$250 million. The company recently completed a $6.1M raise and its initial core drill program, with results expected in the New Year.

Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has completed its three-cornered amalgamation with Bullet Exploration. The transaction, combined with a recently completed oversubscribed $6.1M financing, establishes a well-funded gold exploration company focused on the Walker Lane mining district of Nevada and Arizona. The company will continue drilling at the Gold Chain project in Arizona and advance Nevada projects. Under the amalgamation terms, Bullet shareholders received one Gold79 share for every three Bullet shares, resulting in approximately 19.1M new Gold79 shares issued. Former Bullet shareholders now own about 46% of Gold79, while original Gold79 shareholders retain 54%. The financing was completed through multiple tranches of unit offerings at $0.25 per unit.

Gold79 Mines has successfully closed the final tranche of its oversubscribed non-brokered private placement, raising total gross proceeds of $6,110,000 through the issuance of 24,440,002 units at $0.25 per unit. The final tranche raised $610,000 through 2,440,000 units. Each unit includes one common share and one-half common share purchase warrant, with warrants exercisable at $0.40 per share until November 22, 2026. Proceeds will fund exploration at the Gold Chain, Arizona project and Jefferson North, Nevada project, property payments, and working capital. The offering includes callable warrant provisions if share prices exceed $0.60 for ten consecutive trading days.

Gold79 Mines has completed the second tranche of its upsized private placement, raising total gross proceeds of $5.5 million through the issuance of 22,000,002 units at $0.25 per unit. The second tranche raised $3.31 million through 13,240,002 units. Each unit includes one common share and one-half warrant, with warrants exercisable at $0.40 until November 15, 2026. The financing exceeds the minimum requirement for amalgamation with Bullet Exploration. Proceeds will fund exploration at Gold Chain, Arizona project, property costs, and working capital. The company extended the final closing date for a third tranche to December 16, 2024.

Gold79 Mines has announced the engagement of Kin Communications as its investor relations agency. The 12-month agreement, with month-to-month continuation options, includes a monthly payment of CDN$15,000 plus GST. Kin will receive 500,000 stock options with a five-year term, vesting quarterly in accordance with TSX-V policy. The agreement and stock options are subject to TSX-V approval. Kin Communications, owned by Arlen Hansen, will assist with investor relations activities, including communication with investment professionals and media.

Gold79 Mines has initiated a new drilling program at its Gold Chain Project in Arizona. The program consists of seven core holes totaling approximately 1,000m, following up on successful 2023 drilling results. The first hole will test below previous Hole GC23-28, which yielded 51.1 g/t Au over 9.1m. The program aims to test the Tyro Main structure and provide additional geological context to previous drilling work. Previous significant results include 44.2m at 2.10 g/t Au in hole GC23-23 and 21.2m at 1.73 g/t Au in GC21-16. The company plans a follow-up program in Q1 2025, leading to a maiden resource estimate.

Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has announced key management changes and an increase in its private placement financing. Quentin Mai has been appointed as President and Brodie Sutherland has joined the board of directors, effective October 15, 2024. Derek Macpherson has become Executive Chairman while remaining CEO, and Gary Thompson has stepped down as Executive Chairman but remains on the board.

Due to investor demand, the company is increasing its current private placement financing to up to $6,000,000 from $4,000,000. The amended non-brokered offering will comprise up to 24,000,000 units at $0.25 per unit. Each unit includes one common share and one-half common share purchase warrant. Proceeds will be used for exploration expenditures, property costs, transaction costs with Bullet Exploration Inc., and working capital.