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Archive for the ‘Brigus Gold’ Category

We recently bought shares of Brigus @ $1.88 using today’s close of $1.62 this means a 13,8% loss. The loss can be explained by tanking gold prices, the fundamentals have not changed, and we still consider Brigus to be a solid BUY.

Brigus News Release:

Halifax, Nova Scotia; and Kirkland Lake, Ontario – January 27, 2011– Brigus Gold Corp. (“Brigus”; TSX: BRD; NYSE Amex: BRD) and GLR Resources Inc. (“GLR”; CNQX: GLE) jointly announce that they have reached an agreement regarding the reimbursement by Brigus to GLR in connection with certain equipment originally ordered by GLR.  This equipment was related to Brigus’ wholly owned Goldfields Project in Saskatchewan. A predecessor company of Brigus had acquired the Goldfields Project from GLR.

Pursuant to the agreement, Brigus will issue to GLR 1,396,134 common shares of Brigus valued at CAN$2,443,235 based on a deemed price of CAN$1.75 per share and will make cash payments aggregating US$60,000.  The agreement is subject to receipt of requisite regulatory approvals and discontinuance of the outstanding legal action between Brigus and GLR.

Brigus intends to develop the Goldfields Project into a producing gold mine within the current schedule as early as 2013, pending a development decision by June 2011.

GLR is a Canadian‐based junior mining and exploration company focused on existing projects in Ontario and Quebec.

Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions.  The Company operates the wholly owned Black Fox Mine in the Timmins gold district of Ontario, Canada.  The Black Fox Complex encompasses the Black Fox Mine and Mill, and adjoining Grey Fox-Pike River property, all in the Township of Black River-Matheson, Ontario, Canada.  Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas, and a 3% NSR interest in the Huizopa Project, an early stage, gold-silver exploration project located in the state of Chihuahua.  In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.

Contact Information:

GLR Resources Inc.

Robert Kasner, President and Chief Executive Officer

Phone: (705) 567-5351

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217

E-mail: ir@brigusgold.com

Website: www.brigusgold.com
Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of certain securities legislation.  All statements regarding the timing and decision of development for the Goldfields Project are forward-looking statements and estimates that involve various risks and uncertainties.  These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast, including management’s best judgement based on current conditions and expected future developments. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus’ and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus’ documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission, on SEDAR, and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to Brigus on the date hereof.  Brigus assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Halifax, Nova Scotia; and Kirkland Lake, Ontario – January 27, 2011– Brigus Gold Corp. (“Brigus”; TSX: BRD; NYSE Amex: BRD) and GLR Resources Inc. (“GLR”; CNQX: GLE) jointly announce that they have reached an agreement regarding the reimbursement by Brigus to GLR in connection with certain equipment originally ordered by GLR.  This equipment was related to Brigus’ wholly owned Goldfields Project in Saskatchewan. A predecessor company of Brigus had acquired the Goldfields Project from GLR.

Pursuant to the agreement, Brigus will issue to GLR 1,396,134 common shares of Brigus valued at CAN$2,443,235 based on a deemed price of CAN$1.75 per share and will make cash payments aggregating US$60,000.  The agreement is subject to receipt of requisite regulatory approvals and discontinuance of the outstanding legal action between Brigus and GLR.

Brigus intends to develop the Goldfields Project into a producing gold mine within the current schedule as early as 2013, pending a development decision by June 2011.

GLR is a Canadian‐based junior mining and exploration company focused on existing projects in Ontario and Quebec.

Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions.  The Company operates the wholly owned Black Fox Mine in the Timmins gold district of Ontario, Canada.  The Black Fox Complex encompasses the Black Fox Mine and Mill, and adjoining Grey Fox-Pike River property, all in the Township of Black River-Matheson, Ontario, Canada.  Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas, and a 3% NSR interest in the Huizopa Project, an early stage, gold-silver exploration project located in the state of Chihuahua.  In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.

Contact Information:

GLR Resources Inc.

Robert Kasner, President and Chief Executive Officer

Phone: (705) 567-5351

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

Phone: 720-886-9656 Ext. 217

E-mail: ir@brigusgold.com

Website: www.brigusgold.com
Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of certain securities legislation.  All statements regarding the timing and decision of development for the Goldfields Project are forward-looking statements and estimates that involve various risks and uncertainties.  These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast, including management’s best judgement based on current conditions and expected future developments. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus’ and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus’ documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission, on SEDAR, and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to Brigus on the date hereof.  Brigus assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Source: Company website

Recently we bought shares of Brigus Gold (BRD) @ CA$1.88 today the stock closed @ CA$1.83 We think the stock has the potential of doubling its value within a year and we will continue to watch this company closely.

Brigus Gold News Release:

Halifax, Nova Scotia; January 12, 2011 – Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) has received all assay results from 14 drill holes and partial assay results from an additional three drill holes as part of an  ongoing exploration program at the Company’s 100% owned Black Fox Complex located in the Timmins Mining District, Ontario. The current exploration program is designed to expand the Black Fox Complex gold resource by systematically drilling mineralized structures.

Highlights from recent assay results include (all uncut, average gold grades with estimated true widths, unless otherwise noted):

Contact Zone

• GF10-106:
  • 8.40 grams of gold per tonne (“gpt”) over 3.99 metres (“m”), and
  • 3.08 gpt over 4.23 m

• GF10-114:
  • 12.10 gpt over 12.27 m
    • including 168.65 gpt over 0.81m

• GF10-125:
  • 3.26 gpt over 15.21 m
    • including 5.28 gpt over 3.03 m
    • including 7.19 gpt over 3.75 m

New Discovery – Grey Fox South

• GF10-115:
  • 10.65 gpt over a core length of 6.0 m
    • including 23.32 gpt over a core length of 1.0 m
    • including 16.12 gpt over a core length of 1.0 m
    • including 18.84 gpt over a core length of 1.0 m

The exploration program is following up on historical data and drill results while also testing new targets within the Black Fox Complex.  Three drill rigs are testing high potential gold targets at the Black Fox Complex  including: the Contact Zone, the Historic Gibson Deposit, the Gibson Shear, the School House Zone, the Hislop North Zone and the new Grey Fox South target recently identified from the positive results from drill  hole GF10-115. All targets are located within four kilometres (“km”) of the Company’s operating Black Fox Mine, providing the opportunity for Black Fox resource additions and rapid advancement.  In addition,  during the first quarter of 2011, Brigus will commence drilling on the Black Fox Mill property, host to the past producing Stock gold mine, located 31 km west of the Black Fox Mine.

Howard Bird, P. Geo., Vice President of Exploration for Brigus, said, “The Black Fox Complex drill program continues to confirm continuity of gold mineralization from multiple drill holes within the Contact Zone.  The discovery of high grade gold mineralization in the new Grey Fox South target, from hole GF10-115 which returned 10.65 gpt over a core length of 6.0 metres, is very encouraging and will be followed up with additional drilling.”

Contact Zone

The Contact Zone consists of a steeply dipping mineralized fault contact between the north-south trending metasediments and mafic volcanic rocks, and two other parallel mineralized zones.  The Contact Zone extends for at least 1,200 m and is open along strike and at depth.  The general dip of the feature is 78 degrees to the east with horizontal widths varying from 3.5 m to 35 m.

GF10-106displayed some visible gold and intersected 8.40 gpt gold over a true width of 3.99 m at 160 vertical m from surface and 3.08 gpt of gold over a true width of 4.23 m at 240 vertical m from surface.  The results from GF10-106 have expanded the gold mineralization from the assay results of GF09-45, drilled in 2009 on the same vertical section, which returned 6.07 gpt gold over a true width of 2.95m at approximately 130 vertical m from surface.

GF10-114intersected 12.10 gpt gold over a true width of 12.27 m, including 168.65 gpt gold over a true width of 0.81 m with visible gold in the sample.  The positive gold intersection is significant as it is located approximately 200 m along strike to the south from the main Contact Zone area. There are 27 assay samples pending from GF10-114.

Hole GF10-125 displayed some visible gold and intercepted 3.26 gpt gold over a true width of 15.21 m beginning at 85 vertical m from surface, including 5.28 gpt gold over a true width of 3.03 m, and 7.19 gpt gold over a true width of 3.75 m.   There are still 147 sample assays pending from GF10-125.  Hole GF10-103, drilled on vertical section with GF10-125, intersected 3.03 gpt gold over a true width of 2.83 m at 105 vertical m from surface, and 3.20 gpt gold over a true width of 2.37 m at 225 vertical m from surface.

Assay results over 2.0 gpt gold are listed in a table in Appendix 1 of this news release posted on the Company’s website at www.brigusgold.com.  An additional six drill holes have been completed on the Contact Zone and assays are pending.

Exploration Outlook

Commenting on the exploration potential at the Black Fox Complex, Mr. Bird said, “Over the next two years, our exploration team will focus on adding significant ounces to the gold mineral resources at the Black Fox Complex.  In addition to surface drilling, we also plan to target resource additions from underground drill stations at the Black Fox Mine.  Underground drilling will initially target gold mineralization to the southeast of the last underground drill station to follow up on positive results from previous drilling in 2004 and 2005 where three drill holes returned true width gold intersections of 31.16 gpt over 6.25 m, 7.48 gpt over 3.49 m and 12.65 gpt over 3.07 m.”

Surface drilling was conducted by Norex Drilling and was supervised by the Black Fox exploration staff.  All 2010 sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold’s quality control checks include insertion of blanks and standards to ensure laboratory accuracy.

Senior Exploration Project Manager John A. Dixon, P. Geo., reviewed the technical exploration information in this release as the Qualified Person for the Company.
About Brigus Gold

Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions.  The company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada.  The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada.  Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in the Ixhuatan Project located in the state of Chiapas, and a 3% Net Smelter Royalty in the Huizopa exploration project located in the State of Chihuahua.  In the Dominican Republic, Brigus has a joint venture covering three mineral exploration projects.

Contact Information:

Wendy Yang, Vice President of Investor Relations

Phone: 303-524-3203

E-mail: ir@brigusgold.com

Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources

This news release uses the term mineral “resources”.  The Company advises U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 and are generally not permitted to be used in reports and registration statements filed with the SEC.  The SEC generally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended.  All statements regarding the Company’s ability to successfully expand the Black Fox Complex gold resource, add to Black Fox resources, advance new discoveries,  and continue to obtain positive down dip continuity of significant gold mineralization are forward-looking statements and estimates that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus Gold’s and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold’s documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to the Company on the date hereof.  The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Source: Company website

Today gold and silver finally entered a proper correction. We think prices will level now, and start climbing a bit day-by-day till the end of the year. This correction has given us the change to buy into two beautiful companies. Yesterday we announced our first pick Excellon Resources. Today we bought shares of Brigus Gold @ $1.88

Text from company website:

Brigus Gold is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly-owned Black Fox Mine in the Timmins gold district of Ontario, Canada. In 2010, the Black Fox Mine is expected to produce approximately 80,000-85,000 ounces of gold at a lower-than-average cash costs per ounce in the range of $500-$550 per ounce. Brigus expects gold production to grow to 180,000 ounces in the near future. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada. Combined, Black Fox and the Goldfields Project contain over 2 million ounces of gold reserves. Brigus Gold also has a vigorous project pipeline including the Ixhuatan Project and the Huizopa Joint Venture in Mexico, and joint venture exploration projects in the Dominican Republic. Brigus Gold has a solid balance sheet with growing cash flow from operations.

Click here to download a company presentation of December 9, 2010