Buzbuzian Capital invests $300,000 in Getchell Gold

Buzbuzian Capital Corp. has made an investment of $300,000 in Getchell Gold Corp. (CSE:GTCH) (OTCQB:GGLDF) (FSE:GGA1), according to a press release. The investment involves acquiring 1,000,000 units, each containing one common share and one-half of a common share purchase warrant. These warrants allow Buzbuzian Capital the option to purchase an additional share at $0.35 per share for a period of 24 months after the closing date.

The investment is specifically targeted towards Getchell's Fondaway Canyon project in Nevada. This project has undergone a Preliminary Economic Assessment (PEA), which indicates a $1 billion pre-tax net present value for an open-pit mining operation. Richard Buzbuzian, CEO of Buzbuzian Capital Corp., highlighted the strategic timing of the investment, attributing it to the strong performance of the gold market and the robust PEA of the Fondaway Canyon project.

The Fondaway Canyon project boasts a mineral resource estimate of 999,000 indicated ounces of gold at 1.40 grams per ton and 1.812 million inferred ounces of gold at 1.24 grams per ton. The projected average annual production is 150,000 ounces of gold over a projected 10-year mine life. It is important to note that the mineral resources are classified as such and not as mineral reserves, as they have not yet demonstrated economic viability.

Buzbuzian Capital acquired the shares and warrants for investment purposes, with the potential to adjust its position based on market conditions and future events. The company is a Canadian family office that manages a portfolio of investments in public and pre-IPO companies within the resource and technology sectors.