GNCC Capital, which is focused on developing their six gold and silver Arizona properties (primary emphasis on the three gold assets), was happy to report today that the March 1 announcement regarding the company's evaluation of a significant gold exploration property, larger than anything in their portfolio, has advanced quite well, with GNCP currently awaiting final terms of the purchase.
All that is left in the hopper at this point are certain requirements made by the vendors about net smelter revenues, other royalties, and work commitments, with GNCP already having lined up the financing methodology via a combined preferred stock issuance and long-term loan notes. This strategy will help maintain share structure and keeps with the company's commitment to not issue additional common shares.
This move also dovetails exceptionally well with the previously announced entry into a line of credit agreement with Diamond Peak Resource to jumpstart development of the company's gorgeous portfolio of mineral assets. This $1M credit facility is able to be expanded to meet the needs of the company should this new acquisition go through, and GNCP has also lined up additional sourcing for credit facilities if needs be, irrespective of the Diamond Peak facility.
GNCP is clearly eager to get their hands on these new digs and investors should take note that a company in this market with what is already a good looking acreage portfolio, chomping at the bit like this, is a strong indicator that they have found a really good deal. It seems plausible that the new gold exploration property is very newsworthy and investors should be on the lookout for more details as they emerge. According to today's data burst from the company, this property has had very satisfactory assay results in prior drilling and readily qualifies for a much more comprehensive and in-depth analytical approach.
The company intends to throw an extensive geological effort at the property as soon as possible, backed up by systematic drilling in order to map out the resource, and GNCP has every intention of doing a press release as soon as they have something more for markets to take a peek at.
For more information on GNCC Capital, please visit GNCC-Capital.com
Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net