Good morning traders, Dataram and U.S. Gold corp. Merger Dataram Corp. (NASDAQ: DRAM) 8-k filing for merger with U.S. Gold Corp. issued late yesterday -https://biz.yahoo.com/e/160613/dram8-k.html Update U.S. Gold Corp. - Keystone Project outlined in the filing The Keystone project is attached to a gentleman named Dave Mathewson. He has been a key player in many successful gold companies. Most recently the 'Railroad Play' at Gold Standard (NYSE: GSV). If you are not familiar with geologist Dave Mathewson and the “Railroad play” see the link below. Interview and more information about Dave Mathewson-https://www.theaureport.com/cs/user/download/co_file/4282/GSVrockstoneinterview1013.pdf History of Prior Operations and Exploration on the Keystone Project No comprehensive, modern-era, model-driven exploration has ever been conducted on the Keystone Project. Newmont drilled 6 holes in the old base metal and silver Keystone mine area in 1967, and encountered low grade (+/- 0.02 opt) gold intercepts. Chevron staked the property in 1981-1983 and drilled 27 shallow drill holes, continued by an agreement with USMX that drilled an additional 19 shallow holes; significant amounts of low grade and anomalous gold were intersected, but results were considered uneconomic, and the project dropped. In 1988 and 1989, Phelps Dodge acquired a southern portion of the district and drilled 6 holes, one of which TD’d in gold mineralization, and was subsequently deepened in 1990 resulting in over 200’ of low grade gold mineralization. About this time Coral Resources acquired a northern portion of the property and drilled 21 shallow holes to follow-up previous drill intercepts. 1995-1997, Golden Glacier, a junior company, acquired the north end of the district, and Uranerz a portion of the southern area; 6 holes were drilled in the north and only 2 holes in the south, respectively. The entire district was dropped by all parties. In 2004 with the discovery of Cortez Hills and escalating gold prices, Nevada Pacific Gold, Great American Minerals (Don McDowell), and Tone Resources (Dave Mathewson) competed in claim staking the entire district. Subsequently, Don McDowell, founder of Great American Minerals approached Placer Dome (prior to Barrick acquisition) who discovered Pipeline and Cortez Hills, and who correctly recognized the Keystone district potential. Placer Dome entered into separate JV agreements with Nevada Pacific and Great American. The following year Barrick Gold bought Placer Dome and dropped all Placer Dome's Nevada exploration projects and JV’s, including Keystone. In 2006, Nevada Pacific and Tone were purchased by US Gold. US Gold, now McEwen Mining, drilled 35 holes mostly near the north end of the district; targeting the range front pediment and the historic Keystone Mine. Geological Potential of the Keystone Project To date, a technical report has not been prepared on the Keystone Project. Keystone is positioned on the prolific Cortez gold trend, one of the world’s leading gold producing regions. The Keystone Project is centered on a granitic intrusion that warped the local Paleozoic stratigraphy into a dome, allowing for exposure of highly favorable Devonian, Carboniferous (Mississippian-Pennsylvania) and Permo-Triassic rocks including key likely host rocks for mineralization, the silty carbonate strata of the Horse Creek Formation and the Wenban limestone, as well as possible sandy clastic units of the Diamond Peak Formation. The Horse Canyon and Wenban rocks are the primary host rocks at the nearby Cortez Hills Mine and Gold Rush deposit currently operated by Barrick Gold. Our initial profile Mark Groussman reports 6.9 pct passive stake in Dataram Corp. (Groussman was involved with another company we profiled that ran over 500% in a week, MGT) http://www.reuters.com/article/idUSFWN1950IS?feedType=RSS&feedName=financialsSector Shares in the Float- 3.74M Held by insiders and institutions- 41% Dataram Corp. revenue per share (TTM)- $7.74 Dataram Corp. annual revenue (TTM)- $25.9M Source- Yahoo Finance Stay tuned for more... The Team |
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