Renforth Resources – a junior gold Explorer with advanced gold projects

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CymorFund likes Renforth Resources and recently purchased a position in Renforth’s Private Placement. In this placement, Renforth raised $600,000 at a ridiculously cheap valuation.

Cymorfund hopes this will be a 10-bagger.

Renforth Resources, listed on the CSE (RFR), is a junior gold explorer with advanced-staged gold projects in the Malartic area of Quebec. This area hosts the Malartic mine, which is the largest open pit gold deposit mine in Canada (hosting over 10 million ounces of gold) as well as several gold mines operated by companies such as Agnico Eagle Mines Ltd, Iam Gold Corporation and Yamana Gold Inc.

Renforth has a large land package which ties directly on to the Malartic Mine property, and includes some historical gold properties as well as very prospective properties..

 

Renforth’s Holdings

Prominent holdings of Renforth are:

  • the New Alger mine
  • the Parbec option
  • the Malartic West claim group tied directly on the former Osisko mine, now called the Malartic Mine,
  • and other claims (see below).

 

If you examine the map of the Malartic lands on the Cadillac Break, you see how Renforth’s significant land positions are strategically located, some with historic gold reserves,  running mostly on the south of the Malartic property and abutting that property on the west and on the east, as well as the dynamic Parbec which cuts into the Malartic property on the north.

Parbec, on a never mined portion of the Cadillac Break, is contiguous to the Canadian Malartic super pit mine and its 10 million ounce resource (2014), and immediately adjacent to the East Amphi mine resource portion of Canadian Malartic. 

Renforth in Malartic

On July 12, 2017 Renforth announced that a new gold discovery was made at Parbec located within the Piche volcanics, approximately 200 m north of, and separate from,the existing mineral resource.This discovery was made early in the 2017 prospecting and trenching program.
 
 

An Unrecognized Gem

Location. Location. Location. 

If one wished to hold gold property in Canada’s foremost producing gold district, this is it.

Renforth Resources’ land holdings are most impressive, and contain significant gold reserves, and best of all,  the market has not yet recognized this gem. But Renforth will be recognized for the valuable assets that it holds.

 

And More

Renforth has Nicole Brewster as its CEO, an experienced mining lady from a noted experienced mining family. This very knowledgeable CEO keeps improving Renforth’s position.

On March 8, 2017, Renforth announced the acquisition of the Denain Gold Project, located n the Cadillac Break, approximately 10 km east of the former Chimo Mine. The Project, comprised of 145 claims over ~7700 Ha, hosts the Americ Au Occurence and the Matchi – Manitou and Sullivan Cu/Zn Occurences.

On July 26, 2017 Renforth announced the acquisition of the gold bearing 2244 HaPershing claim block. which bridges the distance between Renforth’s Denain Property and Monarque’s Croinor deposit, a real coup and most impressive.
 

And Still More

SOQUEM, the exploration arm of the Quebec government, just announced a serious interest in Renforth’s Malartic West Property. SOQUEM will spend $300,000 in exploration in year one + an option to spend additional $1,000,000 in the next two years to earn a 50% interest in this land holdings. MOST IMPRESSIVE.

 

Some Notable Gold Numbers

Renforth’s New Alger mine lies one mile west of the SOQUEM-Renforth joint venture. It was shut down in 1954 due to then very low gold prices. At today’s gold price, it has become a valuable asset. Renforth owns a 100% interest in this deposit. Nicole Brewster CEO is proving very adept in furthering the company’s assets.

The new Alger mine has a shaft down to 1160 ft with eight underground levels. There are 200,000 oz of gold blocked out with the potential to more than triple this amount.  Drilling in 2014 gave some of the following impressive results;

Hole 17 – 2.5g/t Au over 4.5 M

Hole 18 – 12.8 g/t Au over 7 m, 

incl. 31 g/t Au over 2.7 m

incl. 5 oz Au over .5 m

Hole 19 – 2 g/t Au over 11 m

 

Also Property in Timmins

On April 26, 2016, Renforth announced the acquisition of 100% of the Nixon-Bartleman project, where an initial field campaign by Renforth found 22.1 g/t Au in a 0.3m channel sample, part of a larger channel of 0.6m which returned 13 g/t Au in assay located outside of the historic area of interest on the property. The property is comprised of four patents and fifteen claims, covering an area of 313Ha, and

is located 45 km southwest of Timmins, Ontario, straddling the Porcupine – Destor Deformation Zone (“PDDZ”), the key structural control for gold mineralization in the area. 

 

Funding and Operating Costs

Renforth’s recent Private Placement raised over $600,000 at $0.05 a unit.  This capital raise will go into exploration and drilling expenses. Renforth management operates on a shoestring and has minimal operating costs. Renforth’s CEO is determined to make her reputation on this Company and doesn’t waste precious capital on management expenses and frills.

 

Renforth sounds good to me.

 

By Larry Cyna

Mr. Cyna is an accomplished investor in the Canadian public markets for over 20 years, and has managed significant portfolios. He is a financing specialist for private and public companies, and has expertise in real estate and debt obligations. He has assisted private companies accessing the public markets, has been a founding director of public companies and continues as a strategic consultant to selected clientele. He is and has been a director, a senior officer and on the Advisory Board of a number of TSX and TSXV public companies in the mining, resource, technology and telecommunications sectors, and the Founding Director of two CPC’s with qualifying transactions in mining and minerals. He was an honorary director of the Rotman School of Management MBA IMC program, has completed the Canadian Securities Institute Canadian Securities Course & Institute Conduct and Practices Handbook Course, was a former Manager under contract to an Investment Manager at BMO Nesbitt Burns, a roster mediator under the Ontario Mandatory Mediation Program, Toronto, a member of the Institute of Corporate Directors of Ontario, a member of the Upper Canada Dispute Resolution Group, and the Ontario Bar Association, Alternate Dispute Resolution section. He obtained his designation as a Chartered Accountant in Ontario in 1971 and was the recipient of the Founder’s Prize for academic achievement together with a cash reward. He became a CPA in the State of Illinois, USA in 1999 under IQEX with a grade of 92%. He is a Member of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants. He holds certificates in Advanced ADR & in Civil Justice in Ontario, Faculty of Law, University of Windsor, certificate in Dispute Resolution from the Ontario Institute of Chartered Accountants. Previous accomplishments are Manager of Cymor Risk Consultants LP specializing in Risk Management Assessment; CEO of Cyna & Associates specializing in mediation and ADR; Founder & Senior Partner of Cyna & Co, Chartered Accountants, a fully licensed and accredited public accountancy firm with international affiliations; and was a partner in a large public accountancy firm. Mr. Cyna is well known in the Canadian Investing community. He is invited to, and attends presentations given by public companies usually 3 or 4 times each week. These presentations are intended by the various hosting companies to present their inside story to sophisticated parties and Investment Managers for the purpose of attracting funding, or of making parties more interested in acquiring shares of those companies. Being a part of this keeps Mr. Cyna deeply involved in the current market and leads to numerous investment opportunities.

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