Less than two hours ago, Hunt Gold Corp. provided shareholders with a comprehensive update covering a variety of issues.
Regarding its continued drilling at the “Mockingbird” Dandy Mine, the company currently has two holes planned and will update shareholders as additional drilling and exploration plans are finalized. Drilling operations will resume by TonaTec no later than January 10.
The company reported that a substantial amount of core from the first 6 drill holes at the Great West and the Pocahontas Gold Mines has been split. The core has been shipped to an independent assay laboratory located in Tucson, Arizona. The remainder of the core will be split and shipped this week. The independent assay laboratory has designated the Company’s core samples as a priority project, with the first assay results anticipated before the end of the month.
Although Hunt Gold recently increased its Authorized Share Capital to facilitate any possible deals and acquisitions, the company made it clear they have not issued any additional shares of its Common Stock. Investors are able to easily check Hunt Gold's outstanding shares on the OTC Pink Sheets website where the information is constantly updated.
The company reported that its corporate website is now complete, but will not be able to launch until certain critical reports and valuations are completed. Hunt Gold doesn't expect the setback to delay the launch of the website much longer. Upon the launch of the website and receipt of the critical valuation and Mining data reports, Investor Relations companies who have developed an aggressive awareness campaign for the Company will begin their efforts.
Hunt Gold also announced that the Joint Venture Company has acquired and continues to acquire shares of the Company’s stock in the market. It is anticipated that a full scale buying program by the Joint Venture will commence upon the launch of the Company’s website to ensure that all stockholders are in possession of all the facts. The Joint Venture will not acquire substantial amounts of the Company’s stock until the website’s launch.
Updating investors on the status of the sale of its “Molybdenum” interests held through its subsidiary company, American Molygold Corp., the company stated that the sale amount of $620 million will be settled in shares of Common Stock of a USA quoted Company focused completely on the business of Molybdenum. As announced before, Hunt Gold intends to distribute all of the proceeds from the sale of American Molygold Corp. to its stockholders.
In the press release, Hunt Gold confirmed that it will be proceeding with the listing of the company’s common shares on a European Stock Exchange. The company has been working on this strategy with European Brokers, who plan to purchase a substantial quantity of the company’s shares in the open market. By dual-listing on the OTC Pink Sheets and on a European Stock Exchange, investors around the globe will be able to trade the company's stock in either US Dollars or in Euros. The Company’s European Corporate Finance Advisors and Brokers are confident that this will be achieved in January of 2009.
Hunt Gold also has plans to become a fully reporting company with the SEC and to move its common shares to the OTC BB market.