This info, a partial copy from INK Insider's Morning Report, mentions Teck part-ownership of American Eagle Gold. It may or may not be of interest to the group when compared to Teck's interest in Copper Fox.
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Morning Report: The year of the porphyry elephant hunt is off to a roaring start January 9, 2024
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We kicked off the year with our January 2nd market update "The 2024 porphyry elephant hunt is on" where we made the case that copper and gold are the building blocks for many countries seeking to establish a secure financial and industrial base. That should help fuel a competition to supply the world with those minerals. It is a race that likely involves hunting for large-scale porphyry deposits which typically contain both copper and gold. It is early in the year, but we already have two 2023 morning report stocks making some big news in this competition. [NGEX is the other one. WM] When we introduced American Eagle Gold (AE) on August 3rd, we noted that, following a $2.96 million investment from Teck Resources (Mixed; TECK), AE was planning more work on its NAK project 85km north of Smithers, BC. On January 8th, AE announced results from the last of its outstanding drill holes from its 2023 program which included hole 23-17 drilled in the southern part of the current exploration area. The best-mineralized interval was from 98.8m to 705m returning 606.2m of 0.74 % copper equivalent (CuEq). Since our last report, TECK has made additional investments in AE.
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On September 7th, Teck Resources acquired an additional 5,940,000 shares at $0.28 in American Eagle Gold (AE) via a flow-through structured private offering. Later on November 27th, Teck acquired another 2,025,000 shares at $0.215 in a private financing, an amount that allows the big BC miner to maintain its 19.9% stake in American Eagle (neither transaction shown on chart). Teck currently holds 22,365,000 AE shares, making it the largest shareholder.
American Eagle Gold has above median ownership (direct & indirect holdings) by Officers and Directors compared to other micro-cap stocks in the Basic Materials sector according to SEDI filings as of January 8th, 2024.
