Duped: Big Calif. Gold Nugget Actually Aussie

Source: Associated Press (7/6/11)

"It was believed to be the largest California nugget left in existence."

Associated Press

A 6.2 lb. hunk of gold was auctioned for nearly half a million dollars in March after a man claimed he found it on his Sierra Nevada property, but it turns out it was actually dug up decades earlier in Australia.

After Jim Sanders' "find" on his property near Nevada City in California's gold country made news last year, Australian prospector Murray Cox compared pictures of Sanders' "Washington Nugget" with "The Orange Roughie" he unearthed near Melbourne in 1987, the San Francisco Chronicle reported. They were an exact match, except the Washington Nugget sold for $460,000 in March and Cox originally sold it for $50,000.

Cox contacted Don Kagin, a coin dealer, and mining geologist Fred Holabird, who together auctioned the nugget for Sanders. The two investigated Cox's claims and determined he was right. "The parties have mutually concluded that the nugget was from Australia," Holabird said Tuesday in a statement.

As for how Sanders got his hands on the Aussie gold chunk? The dealers said confidentiality agreements barred them from elaborating. Cox told the San Francisco Chronicle that he sold the Orange Rougie in 1989 and is not sure how it wound up with Sanders.

The person who bought the gold in March has been reimbursed, and the nugget sold for a smaller price to another bidder. Despite duping people as to the nugget's origin, Kagin said everyone involved has agreed that fraud charges against Sanders are unnecessary. "The whole matter has been concluded to everyone's satisfaction," he said.

The unusual gold chunk fetched $460,000 at auction because it was believed to be the largest California nugget left in existence.

While details of the 98.6 oz. nugget's new sale price were not available, gold closed at $1,529.20/oz. Wednesday.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data
Source: Streetwise Reports (01/26/2021)

Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen.

Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug
Source: Streetwise Reports (01/25/2021)

Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS™ (voclosporin) for use in treating adults with active lupus nephritis.

AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients
Source: Streetwise Reports (01/22/2021)

AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Explorer Discovers New Gold Mineralization at Abitibi Gold Belt Property
Source: Streetwise Reports (01/21/2021)

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine
Source: Streetwise Reports (01/20/2021)

Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2.