BCGold Corp. (CVE:BCG) (PINK:BCGOF) got promoted in a couple of newsletters over the past two days but it served no good for the stock price.
Updates published by miningprofessor.com and whitehotstocks.com weren’t paid for and only reflected the recent news from BCG, paired with shallow technical and fundamental analysis.
The stock is traded very poorly and this lack of liquidity might be prohibiting it from a large breakout right now.
On Monday, January 9, the company announced to have entered into an option agreement which allows them to acquire a full ownership in Off-White Gold property in Yukon.
Gold deposits on this land have been identified back in 1990s and further expanded by BCGold’s own exploration efforts in the area. However, the findings were small enough for the property not to be economically exploitable. The company now expects to find the original sources of the gold nuggets excavated to date.
The agreement was made with Mr. Robert Stirling who was named a vendor in this case. The acquisition will require a payment of $47 thousand plus 3 million common shares of BCGold. Additionally, $600 thousand will have to be spent on property exploration over a four year period. The vendor gets a 2% net smelter royalty with an option to cut it in half for a $1 million payment.
