• Access To Financings
  • Transparent
  • Innovative
  • Well-Connected

NEWS: The Green Organic Dutchman Continues to Build Top-Level Management Team with Senior Appointments in Marketing and Compliance

The Green Organic Dutchman Holdings Ltd. (the Company” or “TGOD”) (TSX: TGOD) (US:TGODF) is pleased to announce two strategic appointments within its leadership team, with Emily Demeo joining as Marketing Brand Director and Terry Reid joining as Director, Legal and Compliance.

Ms. Demeo most recently led the innovation strategy for Molson Coors Canada, including the long-range pipeline for new and existing brands. She was responsible for Molson’s growth plan in Beyond Beer and Non-Alcoholic Segments and established a proven track record for driving innovation within a regulated industry. Prior to Molson, Emily held positions of increasing responsibility at L’Oreal, most recently as Senior Product Manager for Garnier Fructis. She was responsible for developing all aspects of the marketing mix and identified growth opportunities for a globally-recognized marketing organization.

Emily will drive the global TGOD brand by leading the long-term innovation pipeline. This will include development of the edibles strategy, where her beverage industry experience will help drive strategic brand development. As well, she will direct the branded accessories strategy, with the opportunity to build value-added products for the Company’s consumers around the world.

“We are pleased to add a Marketing executive of Emily’s calibre to the TGOD team,” said Andrew Pollock, Vice President of Marketing. “We have received tremendous feedback from consumers about our organic-certified platform, and now Emily will help drive that strategy across a number of verticals. She has a winning track record and a keen understanding of the organic consumer.”

Mr. Reid joins TGOD following a successful career at Teva Pharmaceuticals, where he was a key member of both the legal and compliance teams, most recently as Head of Compliance for Canada. In this role, Mr. Reid led the development and implementation of compliance policies and risk management plans to identify and mitigate compliance risks, working extensively with the local business and global counterparts to ensure operational compliance across a global organization. Prior to his role at Teva, Mr. Reid had a successful commercial litigation practice at a reputable Toronto law firm.

“We are thrilled to have Terry join the TGOD Legal team,” said Anna Stewart, General Counsel for TGOD. “Terry’s deep expertise in regulated industry compliance will be essential as TGOD rapidly expands its business across different and evolving regulatory environments and various product offerings including edibles and beverages.”

Full release

Thailand’s exit from gold to worsen regional underperformance

Thailand, which ordered the shutdown of all gold mining and exploration activities in 2016, will have to deal with the fact the country will continue to be a regional mining underperformer, as it will lose both tax revenue and investors, a new report says.

Thailand’s military regime’s decision to halt gold mining indefinitely followed a long-standing conflict between Akara Resources and villagers who accused the company’s mine of polluting and causing diseases among locals.

According to Fitch Solutions Macro Research, a unit of Fitch Group, while the halt is likely to resolve certain social conflicts, abandoning mining companies that had been operating for years is a strong sign of policy discontinuation, which will be detrimental to foreign investment into the nation.

Thailand’s decision to halt gold mining indefinitely followed a long-standing conflict between Akara Resources and villagers who complained of elevated levels of arsenic and manganese in their blood and crops coming from the Chatree mine, the nation’s only active gold mine at the time.

Government agency tests revealed that about 100 people living around the operation had high levels of these toxic substances in their bodies. While that was never proven the government shuttered the operation to avoid further protests.

Thailand’s resolution also sought to bring peace to the Loei province, where deadly protests by villagers have continued to date against gold producer Tungkum Mining Company. The military government was initially supportive of Tungkum’s gold mining operations, which enabled the company to operate as per normal despite numerous protests.

The gold sector accounted for 21.2% of Thailand’s total mining industry value in 2015, and the industry as a whole contributed to 2.2% of GDP that year. “At a time when gold prices are edging higher, the loss of the gold mining industry will prevent Thailand from benefiting from the increased taxes that would come from gold miners’ increased profitability,” Fitch’s analysts say.

Rampant corruption, risk of political uprising and delays and cancellations of infrastructure projects, will also affect the country’s economy, which it will remain below its long-term potential, the experts warn.

“Political stability has returned to Thailand over the past year, with the government successfully keeping a lid on protest activity,” they say. “However, none of the underlying divides between the Red Shirts (supporters of deposed former Prime Minister Thaksin Shinawatra, who was ousted by a military coup in 2006) and Yellow Shirts (those against Thaksin, who were the force behind the street protests that led to the coup) have been resolved,” they conclude.


Russia liquidates nearly all its holdings of U.S. debt & invests money in gold

The Central Bank of Russia has continued getting rid of US Treasury bonds in August. The share of Russian investments in American debt is getting close to zero.

Russian investments in US securities as of August have fallen to just $14 billion. Back in 2011, Russia was one of the largest holders of US debt with a $180 billion investment.

The reason is not only about politics and US sanctions against Russia, a broker at Otkritie bank Timur Nigmatullin told RIA Novosti. The US Federal Reserve is hiking interest rates, which makes American bonds cheaper, he said. “Russia has almost dropped out of the list of holders of US government debt, being the 54th largest holder.”

“A further sale of US Treasury bonds by Russia will most likely be compensated by buying gold and opening short-term deposits at banks,” he said. The share of precious metals in the country’s foreign reserves has reached a record 18 percent, closely approaching the share of dollar investments.

The largest investors in US debt, China and Japan, have also cut their holdings. Chinese holdings of US sovereign debt dropped to $1.165 trillion in August, from $1.171 trillion in July, marking the third consecutive month of declines. Japan has slashed its holdings of US securities to $1.029 trillion in August, the lowest since October 2011.

The reason for holding money in US bonds is global trade, which is still dominated by the dollar, director of macroeconomic analysis at Expert RA Anton Tabah told Izvestia daily. So, countries are forced to have a lot of dollars in cash, and US bonds are the best option for that.

India and Turkey have followed Russia’s lead. Turkey has dropped out of the top-30 list of holders of American debt, while India has been liquidating its investment for five consecutive months to $140 billion in August.


China Cuts U.S. Treasury Holdings for Third Straight Month

China’s holdings of U.S. Treasuries fell for a third straight month in August to their lowest in more than a year, Treasury Department data showed on Tuesday, in what was likely a move to support its currency in the face of emerging market volatility.

Data showed that China’s Treasuries’ holdings fell to $1.165 trillion in August, from $1.171 trillion in July. The world’s second-largest economy, though, remains the largest non-U.S. holder of Treasuries.

“This was probably just to support China’s currency and just to handle day-to-day flows,” said Jon Hill, interest rates strategist at BMO Capital Markets in New York.

“August also coincided with emerging market volatility as well as some slight depreciation in the renminbi in the middle of August,” he added.

In August, the U.S.-China tariff war escalated, and the concern was that China would retaliate by cutting its vast holdings of Treasuries.

But BMO’s Hill said there has been no evidence of that based on the August report.

“It certainly doesn’t appear that China is weaponizing its Treasury holdings just given the small decline and the general lack of market reverberations,” Hill added.

Japan’s holdings of Treasuries also dropped in August, to $1.029 trillion, the lowest since October 2011. In July, Japan’s holdings were at $1.035 trillion.

Japanese investors sold U.S. and German bonds and bought British debt in August, data from Japan’s Ministry of Finance showed last week, though they may have become net buyers of U.S. debt in October. The investors turned net sellers of U.S. bonds and disposed a net 626.5 billion yen ($5.54 billion) worth of debt in August, the data showed.

Data also showed foreigners bought more than three times as much in U.S. Treasuries in August than in July, posting the largest inflow since June 2015.

Purchases of U.S. Treasuries totaled $63.13 billion in August, up from $18.94 billion the previous month. Treasury inflows were led by private investors, who bought $55.57 billion.

Analysts said this reflects high yields on Treasuries compared with fixed-income securities of other major economies.

Benchmark 10-year yields started August with a yield of 3.0 percent and ended down at 2.85 percent.

The report also showed foreigners bought net long-term U.S. securities for a second straight month in August to the tune of $131.8 billion.


NEWS: Renaissance Gold Exploration Update

Renaissance Gold Inc. has provided the progress and status of its Nevada, United States, projects and its anticipated drilling plans for the remainder of 2018.

Robert Felder, president and chief executive officer, states: “Our activity levels remain quite high and we’re pleased to be drilling this many partner funded projects, keeping us on the path to our next discovery. We very much look forward to the follow-up program at Silicon and this first drill program at Ecru. We have also been quite busy with generative exploration and continue to identify high-quality targets, which we look forward to placing in new deals with strong partners.”

Generative exploration

The company had a productive season of generative exploration, bringing two new high-quality projects into the portfolio, including the Mars project (see news release dated April 24, 2018) and the recently acquired Ghost Ranch project. Ghost Ranch, located in Elko county, Nevada, was acquired through staking on open ground. The project is a shallow pediment target located southeast of Newmont’s Long Canyon mine and along a proposed northwest trend of gold occurrences. The target is indicated through gravity data, enzyme leach soil geochemistry and a pH survey. The Mars project lies within the Coeur exploration alliance area for 2018 (see news release dated May 23, 2017) and the Ghost Ranch project lies within the Kinross right of first refusal area (see NR dated May 15, 2017).

Ecru project

The Ecru project, located in Lander county, Nevada, is subject to an earn-in agreement with S2 Resources Ltd. (see NR dated July 31, 2017, and Aug. 2, 2018). S2 has completed additional gravity and audio magnetotellurics (AMT) surveys over the project and is planning to begin drilling in the coming weeks. The Ecru project is a Carlin-type target in the heart of the Cortez trend, located to the north of Barrick’s pipeline complex and Robertson property, which were recently acquired from Coral Gold for $15.75-million (U.S.) and a sliding scale royalty. Barrick is currently conducting development work including prefeasibility, metallurgy, engineering and drilling (source: Coral Gold website).

Silicon project

The Silicon project, located in Nye county, Nevada, is under option to AngloGold Ashanti NA (see NR dated Sept. 17, 2018). AngloGold Ashanti has reported plans to drill a 17,000-metre follow-up program beginning in Q4 2018.

Jake Creek project

The Jake Creek project, located in Humboldt county, Nevada, is subject to an earn-in agreement with Ginguro Gold Pty. Ltd. (see NR dated April 24, 2018). Ginguro is planning a 1,000-sample soil geochemistry program, utilizing ALS Minerals’ Ionic Leach method. The results of this survey will be integrated with geophysical and drill data to plan the next phase of drilling on the project in 2019.

Spruce East project

The Spruce East project, located in Elko county, Nevada, is subject to an earn-in agreement with Kinross Gold USA Inc. (see NR dated May 15, 2017). A phase 2 follow-up drilling program was designed to offset mineralization in the Cicada target, as well as test additional targets throughout the project (see NR dated July 24, 2018). The program consisted of nine reverse circulation drill holes, totalling 2,316 metres (7,600 feet) and was completed in August. Drilling intercepted multiple zones of anomalism in the Cicada and Beetle target areas, shown in the attached table.

              FROM PHASE 2 PROGRAM  
Hole ID From (m)  To (m) Interval (m)   Au (g/t)

SE18-04   271.3   281.9         10.7       0.26    
          291.1   294.1          3.1       0.42    
SE18-07    38.1    39.6          1.5       0.26    
SE18-09    93.0    96.0          3.1       0.28    
SE18-10   176.8   179.8          3.1       0.28    

The other drill holes had no reportable results.

Hole SE18-04, drilled to deepen hole SE17-04, which bottomed in mineralization, intercepted anomalous mineralization, but did not significantly increase the grade. SE18-12 and SE18-13 intercepted lower grade anomalism to the north and west. Drilling on the Beetle target intercepted low-grade gold anomalism associated with the Beetle antiform in holes SE18-09 and SE18-10. RenGold and Kinross will evaluate the results to decide on future exploration on the project.

Jupiter project

The Jupiter project, located in Nye county, Nevada, is subject to an earn-in agreement with Ramelius Resources Ltd. (see NR dated June 21, 2017). A phase 2 follow-up drilling program was completed in August and was designed to follow-up gold intercepts encountered in the 2017 program (see NR dated Jan. 29, 2018). The program consisted of seven reverse circulation drill holes, totalling 1,547 metres (5075 feet) and the results are shown in the attached table.


Hole ID  From (m)  To (m) Interval (m) Au (g/t)

JURC0008   62.48   79.25        16.77     0.20    
JURC0010  126.49  129.54         3.05     0.28    
          135.64  137.16         1.52     0.23    
JURC0012  376.43  384.05         7.62     0.17    
JURC0013   68.58   73.15         4.57     0.21    
           80.77   88.39         7.62     0.18    
JURC0014  155.45  170.69        15.24     0.18    

The other drill holes had no reportable results.

This drill program was designed to follow up several anomalous intercepts drilled in 2017 in holes JURC0001, JURC0002, JURC0003 and JURC0006, including 9.14 metres at 1.1 g/t Au in hole JURC0001. The program encountered several anomalous intercepts associated with jasperoidal alteration developed along the Tertiary-Paleozoic contact and in proximity to the graben bounding basement faults, however no increase in grade was observed. The basement structures intercepted in hole JURC0010 were visually encouraging, but unmineralized. RenGold and Ramelius are evaluating the results to decide on additional exploration on the project.

Other project updates

Spring Peak: The company has been notified by Radius Gold Inc. that it has decided to terminate its option to earn a 70-per-cent interest in the project. Radius Gold did not complete any drilling and the targets remain untested.

Cine Mountain: Coeur Explorations Inc. has informed the company that they have decided to terminate their option to earn a 70-per-cent interest in the project. Coeur did not complete any drilling on the project and the targets remain untested.

Both projects remain untested.