Dennis Moore is taking the reins again at Fremont Gold (FRE.V) as Blaine Monaghan resigned. No further details were provided but the sudden resignation and the fact that no assay results of the three hole drill program on the North Carlin Gold project have been released likely indicates the holes were dusters.
Fremont announced the drill program started in January and confirmed on February 17th the 1,910 meter program was completed. As that has been three months ago and no update has been provided since, perhaps this likely means we shouldn’t get our hopes up and Fremont Gold may have to pivot again after the disappointing exploration results in the past few years as none of the exploration programs (Gold Bar, Gold Canyon, Griffon and now North Carlin) were successful.
Fremont closed at just C$0.04/share on Friday, for a market capitalization of about C$5M and likely close to C$1M in cash (to be confirmed once Fremont Gold publishes its Q1 results).
Disclosure: The author has a small long position in Fremont Gold. Fremont Gold currently is not a sponsor of the website, but has been a sponsor in the preceding 12 months. Please read our disclaimer.
