Gold Mining Company Acquires Optimum Ventures Ltd.

Blackwolf Copper and Gold Ltd. (BWCG:TSX.V) reported in a press release that it has finalized the acquisition of Optimum Ventures Ltd. According to the press release, Optimum's company shareholders will receive shares in Blackwolf relative to their shares in Optimum in a .65 to 1 ratio.

The press release also reports that Optimum will no longer be on the TSX Venture Exchange as of September 14, 2023, and that the company is submitting an application to no longer be considered a reporting issuer.

According to Morgan Lekstrom, the CEO of Blackwolf, "with the acquisition of Optimum, Blackwolf has become a top developer of precious and strategic metal projects in Alaska and British Columbia's Golden Triangle… The merger has brought exciting projects and expertise to Blackwolf, and we believe it will contribute significantly to our goal of creating value for our shareholders."

Blackwolf is also taking on Andrew Bowering as a director. According to Rob McLeod, the Executive Chairman of Blackwolf, "we are proud to welcome Andrew Bowering as a new director of Blackwolf. Andy is one of Canada's top mining entrepreneurs, and we have a history of working together in the Golden Triangle since 1995. We are looking forward to working together again."

Gold Approaching Records in Australia 

According to Stockhead, gold has reached extraordinary highs on the Australian market at AU$3014 per ounce. Stockhead reports that this price jump is being driven by a decline in the Australian currency, and a hold on interest hikes by the Federal Reserve that has strengthened the American dollar.

Rick Mills of Ahead of the Herd has reported that, while gold on the American market has slowed down a bit, it may still be a good option for investors. According to Mills, "gold is considered a safe investment, meaning it's supposed to act as a safe haven when markets are in decline, because the price of gold typically doesn't move with market prices."

An Immediate Strong Speculative Buy

Technical analyst Clive Maund rated the company as "an immediate strong speculative buy" for potential investors. Maund cited the probability that the company's stock will start to swing upwards, saying "the 6 month chart- and longer term charts- does not, at first sight, look particularly inspiring with a rather limp-looking rally in January… but if we look more carefully we can see that the price has been marking out a downsloping Head-and-Shoulders bottom with a significant pickup in upside volume on the January rally."

The company reports a number of catalysts, including exploration drilling in June of 2023, where the Cantoo drill targets are slated to be a high priority.

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own 26.14% of the company. According to Reuters, Frank Giustra owns 19.65% of the company with 10.71 million shares, Executive Chairman Robert John McLeod owns 4.32% with 2.36 million shares, CFO Susan Marie Neale owns 1.35% with 0.73 million shares, director Jessica Van Den Akker owns 0.60% with 0.33 million shares, and CEO and director Morgan Lekstrom owns 0.22% with 0.12 million shares.

According to Reuters, institutions own 11.15% of the company, while Crescat Capital, LLC, owns 9.32% with 5.08 million shares, and U.S. Global Investors, Inc., owns 1.83% with 1.00 million shares.

The company reports that Frank Giustra is a strategic investor.

Blackwolf reports that it has CA$8.5 million in the bank as of April 4, 2023.

In terms of negatives, the company reports no potential sellers or warrants overhang.

Blackwolf stated that it works with the influencer Alex Deluce of Gold Telegraph, and that Niall Tomlinson of Coulier Capital provides news coverage and analysis of the company.

Reuters reports that there are 54.51 million shares outstanding, with 40.26 million free float traded shares. According to Reuters, the company has a market cap of CA$8.79 million, and trades in the 52 week period between CA$0.19 and CA$0.49.

Important Disclosures:

1. Blackwolf Copper and Gold Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackwolf Copper and Gold Ltd.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. 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.

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