Business
ESGold Plans for a Busy Fall Schedule
VANCOUVER, BRITISH COLUMBIA – TheNewswire - August 20, 2024 - ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU, Frankfurt: N2W, OTC: SEKZF), is pleased to pr
About this update from Esgold Corp
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA – TheNewswire - August 20, 2024 - ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU, Frankfurt: N2W, OTC: SEKZF), is pleased to provide a corporate update outlining management’s plan for operations over the next 6 to 12 months. Current market conditions for gold, silver and mica are currently exceptionally strong with projections indicating sustained strength and potential for even greater increases. These three (3) resources are the major biproduct of processing the tailings at the Company’s Montauban Plant and are central to ESGold’s operations. In July 2023 ESGold commissioned a Preliminary Economic Assessment (“PEA”) that highlighted significant positive value and strong Internal Rate of Return (IRR). Since then, gold has increased by 43% (US$1,750 per ounce to US$2,500 per ounce), silver has risen by 43% (US$21 per ounce to US$30 per ounce) and mica prices have soared by 165% (US$530 per ton from US$200 per ton FOB China) These price increases directly impact the revenue from the project, while operational costs, paid in Canadian dollars, effectively decrease in relative terms.. Given these favorable economic conditions and the advanced stage of the project, the Company is focused on commencing production at Montauban within the next nine (9) to twelve (12) months. To achieve these ambitious targets, the Company has begun mobilizing the necessary resources, equipment and personnel required to take the Montauban Plant into production. The Company will need to complete two (2) financings. The first is a small equity financing of up to $500,000 that offers an ESGold Unit at a price of $0.10 that is comprised of one (1) common share and one (1) whole warrant priced at $0.15 for a period of a year. This financing is almost complete and is targeted to close on August 31, 2024. The proceeds will be used to prepare the Company to begin construction and develop a focused marketing campaign. Please refer to the Company’s press release dated August 8, 2024 for further details. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Commission (the “CSE”). Brad Kitchen, President of ESGold Stated, “ESGold is in a very unique situation where the Company epitomizes it...