Augusta Gold Corp (OTCMKTS: AUGG) has been running steadily up the charts over the past 2 months since a brief dip below the $1 mark. The stock recently surpassed $1.50 and is looking for a breakout over June high of $1.94; a break over $2 and AUGG could go far. The Company has been helped along in recent months thanks to National Inflation Association who has been bringing the Comapny to the attention of their followers. 

Three weeks ago, Augusta Gold (AUGG)’s President/CEO Donald Taylor who was previously COO of Arizona Mining prior to it being acquired said that AUGG is close to completing its Engineering Studies for both Bullfrog and Reward. Not only does AUGG have 2.1X more gold resources than the Sterling/Crown Project, but 85.2% of AUGG’s gold resources are measured & indicated.  

Augusta Gold Corp (OTCMKTS: AUGG) is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada. The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value.  

Earlier this year the Company announced the closing of the acquisition of the Reward Project). The Company also announces that it has received TSX approval to hold its annual shareholder meeting after June 30, 2022. The Company will file a notice on SEDAR in the coming weeks setting the date for its annual shareholder meeting 

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On September 14 AUGG announced it has completed the remaining payment aggregating US$22,121,398 due to Waterton Nevada Splitter LLC for the Reward project under the previously announced purchase agreement (refer to the Company’s news release dated April 21, 2022). 

The Company also announces a loan (the “Loan”) with a company (the “Lender”) owned by the Company’s Executive Chairman for US$22,232,561. The Loan bears interest at a rate of prime plus 3%, is for a maximum period of 12 months, and is secured by the Company’s Bullfrog and Reward Projects. An origination fee of 0.5% of the amount of the Loan was paid to the Lender on closing. 

The Reward Project is a fully permitted heap leach project with measured and indicated mineral resources of 426,700 oz gold grading 0.75 g/t gold and inferred mineral resources of 27,100 oz gold grading 0.68 g/t gold with sufficient water rights to commence construction and operations. 

Donald Taylor President and CEO said, “Making the final payment for the Reward acquisition is a significant milestone as we move to completing our engineering studies for both Reward and Bullfrog with the goal of commencing production from the fully permitted Reward project in late 2023.” 

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AUGG) has been running steadily up the charts over the past 2 months since a brief dip below the $1 mark. The stock recently surpassed $1.50 and is looking for a breakout over June high of $1.94; a break over $2 and AUGG could go far. The Company has been helped along in recent months thanks to National Inflation Association who has been bringing the Comapny to the attention of their followers. Three weeks ago, Augusta Gold (AUGG)’s President/CEO Donald Taylor who was previously COO of Arizona Mining prior to it being acquired said that AUGG is close to completing its Engineering Studies for both Bullfrog and Reward. Not only does AUGG have 2.1X more gold resources than the Sterling/Crown Project, but 85.2% of AUGG’s gold resources are measured & indicated.  We will be updating on AUGG so make sure you are subscribed to Microcapdaily.

Disclosure: we hold no position in AUGG either long or short and we have not been compensated for this article.

The post Augusta Gold Corp (OTCMKTS: AUGG) On a Steady Rise first appeared on Micro Cap Daily.

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