Gold79 changes name to West Point Gold
Gold79 Mines Ltd. [AUU-TSXV, AUSVF-OTCQB] has changed its name to West Point Gold Corp [WPG-TSXV] as a result of a resolution past by the company’s directors on December 15, 2024. There is no consolidation of capital.
Effective at the opening on Monday, December 23, 2024, the common shares of West Point Gold will commence trading on the TSX Venture Exchange and the common shares of Gold79 will be delisted. The shares are currently priced a 29 cents and trade in a 52-week range of 36.5 cents and 15 cents.
The announcement comes after the company said Quentin Mai has been appointed CEO. He was also made a member of the board of directors.
Mai has over 25 years of capital market and corporate communications experience working with successful early-stage growth companies from mineral discovery to production. He spent over 10 years at Corvus Gold, from its founding to eventual sale to AngloGold Ashanti Plc. [AU-NYSE, ANG-JSE, AGG-ASX], for $570 million. Corvus’ North Bullfrog project forms a part of AngloGold’s +10 million gold ounce greenfield projects being developed in Nevada.
West Point Gold recently completed an amalgamation with Bullet Exploration. The transaction was expected to create a well funded gold exploration company with a focus on the southwestern U.S.
West Point holds 100% earn-in option to purchase agreements on three gold projects, the Jefferson Canyon and Tip Top projects in Nevada and the Gold Chain project in Arizona. It also holds a 32.3% stake in the Greyhound Project, Nunavut, under a joint venture with Agnico-Eagle Mines Ltd. (AEM-TSX, AEM-NYSE).
West Point is focused on delivering a maiden resource at its Gold Chain project, exploring the newly acquired Jefferson North Gold-Silver Project in Nevada to define its scale potential, and continue to work with Kinross Gold Corp. (K-TSX, KGC-NYSE) to get a maiden drill program at Jefferson Canyon underway.
In a press release on November 22, 2024, the company said it had closed the final tranche of a previously announced $6.0 million non-brokered private placement financing, raising gross proceeds of $6.11 million via the issuance of 24.4 million units priced at 25 cents each.
“Successfully completing the $6.1 million raise positioned Gold79 to initiate its drill program to rapidly advance Gold Chain towards a maiden resource,’’ Mai said. “The initial core drill program is now completed and with results anticipated in the New Year, we are already planning to start the next phase of drilling.’’
“The transaction between Gold79 and Bullet is a unique opportunity to consolidate exploration companies in the southwestern U.S.,’’ said Macpherson. “The combined entity is going to have multiple projects at various stages of exploration, be well funded and have improved access to capital,’’ he said.