In March 2016, Winston Gold listed on the Canadian Stock Exchange, IPO’d and closed the prospectus offering of common shares in the same 24 hours. Winston Gold (WGC:CSE) then started trading on March 29, 2016. The company is dedicated to developing high grade, near production properties. Their management and directors have many years of experience in the state of Montana and have developed numerous mineral projects in that state. Interestingly, when you view the current share price, after filing its annual report in April 2016, the auditor provided a discouraging opinion that the company would continue as “a going concern.”
Since then, Winston Gold and its wholly owned subsidiary Winston Gold Mining USA Corporation and Winston Realty LLC, amended the mining lease agreement entered into July 2014. That lease over mineral claims is named the Winston District Gold Project and the location is in Broadwater County, Montana. A key aspect of the amendment included Winston Gold acquiring an option to purchase all subsurface rights, as well as 100 acres of land held by the lessor. Shortly thereafter, the company entered into a share exchange agreement with Goldridge Holdings Limited of British Columbia and their shareholders to acquire all of the issued and outstanding common shares of Goldridge. This was described as a “major acquisition” for Winston Gold and that statement appears to support their philosophy.
Today (September 28, 2016) they announced that they have closed a $2.5 million fully-subscribed, non brokered private placement. “This very successful fully-subscribed financing allows us to continue to build a quality asset base through the acquisition of the Gold Ridge Project in Arizona,” commented Murray Nye CEO of Winston Gold. “Our mining team has considerable experience developing high-grade underground mines and I believe this project will complement our namesake property in Montana.”
It is early days still, but after reviewing the short history of this company, their statements regarding the direction they have for Winston Gold and the resulting interest from investors, it appears that once underway production has the potential to yield great rewards for investors. It’s already been a 5 “bagger” for a lot of us.
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