Welcome to our dedicated page for Gold Bull Resources news (Ticker: GBRCF), a resource for investors and traders seeking the latest updates and insights on Gold Bull Resources stock.
This page provides a news archive for Gold Bull Resources Corp. (GBRCF), a US gold focused, exploration and development company whose primary projects have been located in Nevada. Company communications describe Gold Bull’s core asset as the Sandman Gold Project, along with the Big Balds exploration project, both of which have featured prominently in its public updates and technical disclosures.
News items for GBRCF include announcements about technical studies and economic assessments for the Sandman Project, such as Preliminary Economic Assessments evaluating potential heap leach gold operations based on NI 43-101 mineral resource estimates. Coverage also reflects Gold Bull’s broader corporate objective of growing into a US-focused mid-tier gold exploration and development company by discovering and acquiring additional ounces of gold.
A major theme in more recent news is the acquisition of Gold Bull by Borealis Mining Company Limited. Releases detail the definitive agreement between the companies, the plan of arrangement under the Business Corporations Act (British Columbia), and the subsequent closing of the transaction. These articles explain how Gold Bull shareholders received Borealis shares, how Borealis came to own all issued and outstanding Gold Bull shares, and how the Gold Bull shares are expected to be delisted from the TSX Venture Exchange, with an application for Gold Bull to cease to be a reporting issuer.
Investors and researchers can use this news history to understand how Gold Bull advanced the Sandman and Big Balds projects over time, and how those assets transitioned into the Borealis portfolio through the acquisition. For current developments related to these Nevada gold projects, readers may wish to review more recent communications from Borealis Mining Company Limited, which now controls the former Gold Bull assets.
Borealis Mining Company has successfully completed the acquisition of Gold Bull Resources and its advanced Sandman Gold project in Nevada. The transaction, approved by Gold Bull shareholders on February 28, 2025, involved exchanging each Gold Bull share for 0.93 Borealis shares, resulting in 14,048,403 new Borealis shares being issued.
The deal provides significant synergies as Borealis' ADR facility can process loaded carbon from the Sandman project, substantially reducing capital expenditure and permitting risks. The acquisition includes the Sandman Gold project, which features a promising 2023 Preliminary Economic Assessment with high IRR and NPV potential, and the early-stage Big Balds project near the Bald Mountain gold mine.
Post-transaction, existing Borealis shareholders own approximately 86% of the company, while former Gold Bull shareholders hold 14%. Gold Bull shares are expected to be delisted from TSXV around March 14, 2025.
Borealis Mining Company has entered into a definitive agreement to acquire Gold Bull Resources through a share exchange ratio of 0.93 Borealis shares for each Gold Bull share, valuing Gold Bull at approximately $0.60 per share. The transaction represents a significant premium of 86.3% to Gold Bull's 30-day VWAP.
The acquisition adds Gold Bull's Sandman Project in Nevada, which contains 433,000 Indicated and 60,800 Inferred gold ounces. The 2023 PEA for Sandman shows promising economics with a post-tax IRR of 81%, NPV of US$121 million, and average annual gold production of 37.9k oz at US$1,800/oz gold price. The project requires low initial capital of US$31.5 million.
Upon completion, existing Borealis and Gold Bull shareholders will own approximately 86% and 14% of the combined entity, respectively. The transaction is expected to close in late January or early February 2025, subject to shareholder and regulatory approvals.
Gold Bull Resources Corp. (OTC:GBRCF), a US-focused gold exploration company, is set to present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 11 AM PST. The presentation will be hosted by CEO Cherie Leeden. The company’s Sandman Project in Nevada contains 21.8Mt at 0.7g/t gold, totaling 494,000 ounces. The initial Phase 1 Preliminary Economic Assessment (PEA) identified a low-cost heap leach gold opportunity, projecting an IRR of 99% and a pre-tax NPV of $77.2M. Gold Bull is also exploring Phase 2 PEA to extract resources below the water table and expand its reserves.
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