Business
Stakeholder Announces First Blue Quartzite Dividend Payment
Toronto, Ontario--(Newsfile Corp. - January 14, 2021) - Stakeholder Gold Corporation (TSXV: SR...
About this update from Stakeholder Gold Corp.
[{"type":"text","content":"Stakeholder Announces First Blue Quartzite Dividend PaymentToronto, Ontario--(Newsfile Corp. - January 14, 2021) - Stakeholder Gold Corporation (TSXV: SRC) (\"Stakeholder\" or the \"Company\") is pleased to announce the first payment received in Canada for sales of exotic blue quartzite blocks from its wholly owned subsidiary Victoria Mining Corporation (\"VMC\"). VMC's exotic blue quartzite quarry is situated in the Municipality of Dom Joaquim in the State of Minas Gerais, Brazil. Blue quartzite is quarried for export from Brazil's unique stone quarry operations to the refined, high-end building material markets of Europe, Asia, and North America.VMC's High-Margin Blue QuartziteTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3082/71951_01.0%20blue%20quartzite%20photo.jpgThe first three blocks of the Company's exotic blue quartzite material, comprising 30 cubic meters, have been sold and a profits dividend has been successfully sent to Toronto. The blocks were sold at an operating profit of $1,600 USD per cubic meter. Multiple buyers have expressed interest in VMC's exotic blue quartzite blocks, and the Company expects to be able to develop production from several quarries across its 100% owned project area.\"Market demand for our exotic blue quartzite is developing very well. We have received advanced interest for regular purchases in the range of 150 to 200 cubic meters per month from a total of four separate buyers. We have now completed a first dividend payment back to Toronto out of profits from sales in Brazil, and we see potential for a regular and steady increase in monthly dividend payments through 2021. We expect to hit a production and sales target of 150 cubic meters per month by March 2021,\" stated Marcus Chase, President of VMC. \"VMC's exotic blue quartzite business is now providing cash flow. Operating cash flow enables us to restrict treasury share issuance as we unlock value from the Company's 100% owned Ballarat Gold Project which is situated in the heart of the White Gold District of the Yukon Territory in Canada,\" stated Christopher Berlet, President and CEO of Stakeholder. About Ballarat Gold ProjectStakeholder Gold's 100% owned Ballarat Gold Project is comprised of 7,442 hectares of claims located in the heart of the White Gold District of the Yukon Territo...