Fronteer Development Releases Resource Estimate For Long Canyon, 363,000 Oz. Indicated

Fronteer Development Group Inc.'s resource estimate for its Long Canyon project, in Nevada, came in at 363,000 oz indicated and 459,000 ounces inferred. This measure uses a 0.25 g/t cutoff. Using a 1.0 g/t cutoff gives a figure of 322,000 indicated and 369,000 inferred. The resources are at or near surface. The news release itemizes these results. This project is a joint venture with Auex Ventures, which has sent out its own take on these findings.

Fronteer closed yesterday at $2.86 for a gain of 13 cents. The bid-ask at the time of this posting is $3.08 - $3.08, indicating a significantly higher open. AuEx's, on the other hand, doesn't: current bid-ask is $2.40 - $2.45. Auex closed yesterday at $2.45 with a gain of 25 cents, though.

Fronteer's Google Finance web page is here; AuEx's is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.

Aginco-Eagle Invests $2.15 Million In AuEx Ventures

Aginco-Eagle has acquired 1 million units of AuEx Ventures in a private placement, at $2.15 per unit. Each unit contains one common share and half a purchase warrant. This warrant has an expiry date of two years, but the exercise price is $2.75 in the first year and $3.25 in the second. There's also an unspecified expiry-acceleration option attached to the warrants. As the news release specifies, these units will bump up Aginco's holdings in AuEx to 3,202,100 shares: 12.4% on a partially-diluted basis.

This item was released after the close of trading yesterday. Aginco was up $4.34 to close at $63.50, on heavy trading, while AuEx was down a nickel to close at $2.20 on light trading.

Aginco's Google Finance web page is here, and AuEx's is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.