July 03, 2024 2:26 PM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario–(Newsfile Corp. – July 3, 2024) – Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (“Lode Gold ” or the “Company”) is pleased to provide a Mid Year Shareholder Update regarding its 3-Step Restructuring & Growth Strategy and Plans for 2024. The 3-Step Business Plan was signed off by the Board in October 2023; since then it has been focused on systematic execution of the plans to unlock value for shareholders.
Step 1 Achievements
- Step 1: Lode Gold completed an oversubscribed Private Placement C$2.08M
- Added engaged and long-term shareholders: 3 Institution shareholders own 59%
- Market capitalization increased from $3.3M in November 2023 to $14M June 2024
- Improved balance sheet and enhanced Board and Management Team
Developments in Canada
- Confirmed Reduced Intrusives (RIRGS) in Yukon on its WIN asset. Additionally, Lode Gold expanded its grounds in New Brunswick within the Appalachian gold corridor
- Commissioned a QMAG geophysical survey on its Golden Culvert and Win projects in the Yukon in collaboration with other explorers. The Company also completed an updated Yukon 43-101 Technical Report
Strategic Shift in the US
- Lode Gold is pivoting its strategy to focus on underground opportunities in Mariposa, California, with the goal of establishing a high-grade underground gold mine
Exploration and Development Team Enhancements
- The Company has bolstered its technical team with experienced geologists and mining professionals
- Leading the exploration efforts in Canada is Buddy Doyle, who brings 40 years of experience in the industry
Upcoming Catalysts
- Lode Gold plans to unlock shareholder value through strategic spin-offs and partnerships, particularly in key Canadian assets and the strategic development of the Fremont project in California
Of note, our capitalization confirms that the market recognizes that we have been undervalued, rising from a low of $3.3 million in October 2023 to over $14 million by June 2024.
This industry prioritizes people first and we are focused on building a dedicated core team with both capital markets and technical expertise. Detailed biographies can be found here.
Lode Gold’s new strategic direction is centered on unlocking shareholder value by separating key assets, creating two pure play companies, attracting new investors, and building a strong team that can lead and execute. We thank our shareholders and stakeholders for their long-term support as we continue to focus our efforts in executing our growth plans.
STOCK OPTIONS
Lode Gold has granted incentive stock options to various directors, officers, and consultants to purchase 13,352,157 common shares at an exercise price of $0.05 per share exercisable for a period of five years. The options granted to various directors and officers vest immediately. The stock options are subject to the terms and conditions of the Company’s stock option plan and the policies of the TSX Venture Exchange.
ABOUT LODE GOLD
Lode Gold is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.
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**Additional Insight:**
Incorporating subheadings into the rewritten article helps to organize the information and make it more reader-friendly. It also highlights the key areas of focus for the company. By providing a comprehensive overview of the company’s achievements, strategy, and team enhancements, investors and stakeholders can gain a better understanding of Lode Gold Resources Inc.’s current status and future prospects.
