NEW: No-Cost Streetwise Reports Live! Events. This type of intellectual capital is usually not made available to the general public. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

79North AKA 12 Exploration Sitting on a Lot of Gold
Contributed Opinion

Source:

Bob Moriarty Bob Moriarty of 321gold profiles this company whose project is a short distance from Iamgold and Newmont's operating mines.

Informal mining in the Witlage Target, Nassau Project

This is easily going to be one of the more confusing articles I have ever written. There was a private company named 79North headed by Jon North. 79North (TWLV:CSE) did a reverse takeover with a public vehicle named 12 Exploration with a ticker symbol of TWLV-C.

But if you plug that into Stockwatch it takes you to the website of 79North. Which doesn't exist as a company and won't until mid-August after shareholders vote on the new/old name. Which they will because insiders hold a majority of the shares.

Clear?

As mud.

However the good news is that like TriStar Gold (TSG-V) 12 Exploration (TWLV) holds a greenstone gold system on top of a plateau in South America in a gold belt that extends from West Africa well into Venezuela. The garimpeiro miners in Surinam (used to be Dutch Guiana) have been mining placer gold from every stream and river coming off of the high ground for over a hundred years. The pork-knockers have taken millions of ounces of gold in that time. They are better miners than record keepers.

American investors will be a little frustrated since there is no OTCBB symbol just yet. The shares only came free trading three weeks ago. Prior to the reverse takeover 79North did a $4.5 million financing so it is well cashed up and ready to hit the ground running.

TWLV is the only junior operating in Surinam however both Iamgold and Newmont have operating mines a short distance from the Nassau Plateau property of 12 Exploration. The company owns 80% of the 210 square km project. It is on trend with Newmont's Merian mine that produced 393,000 ounces of gold in 2019.

The company is both young and aggressive. Jon North makes it clear that he intends to pick up other projects. Initial work at the Nassau site will consist of a LiDAR survey and geophysical groundwork. Drilling is probably a year off.

With just over $4 million in the kitty, the company is well positioned to advance the project. They are still in the clumsy stage, the website is way behind the news flow but it's a brand new venture.

79North/12 Exploration is an advertiser and I did participate in the private placement. Do your own due diligence.

12 Exploration Inc
TWLV-C $0.20 (Jul 09, 2020)
85.9 million shares
12 Exploration Inc website

Bob Moriarty
President: 321gold
Archives
321gold

Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

[NLINSERT]

Disclosure:
1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: 79North/12 Exploration. 79North/12 Exploration is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newmont, a company mentioned in this article.

Learn More about Streetwise Reports Live

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe