I note that Acadian Gold (ATV's near neighbour in Nova Scotia) has done a deal with a Chinese interest as follows:
Acadian Mining Corporation ("Corporation" or "Acadian") (TSX: ADA) is pleased to announce that it has signed a Letter of Intent with respect to a proposed investment in Acadian by China Metallurgical Exploration Corp. ("CME") which will raise an initial $8.1 million with the potential to raise a further $5.4 million if warrants are exercised.
Certainly indicates the availability of funds for gold projects. Bear in mind that ATV has a much more advanced gold project than Acadian, and on that basis you would expect it to have at least the same level of attraction to outside interest/financiers.
Perhaps the start of a scramble in the area to get in on the ground floor, as the Nova Scotian goldfields are undeveloped to any degree, and underexplored re the potential of the Meguma Terraine.
Certainly another signal that this area has great potential for mining and significant resource discovery. ATV has recently increased their land holdings, and as such the inherent value (from near term mining at Touquoy and Cochrane Hill) and potential value (from extensive subsequent exploration) must ultimately lead to excellent returns for those who invest.
ATV Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
