Companies involved in the gold exploration space may be worth tracking at this point given the historic prices hit by the yellow metal in recent days, and hence, ONGold Resources Inc. (OTC: ONGRF) may be a stock worth looking into. Yesterday, the company was in the news cycle after it provided an update about its Monument Bay gold project.
The Update
In the news release from ONGold Resources yesterday, the company stated that the project had been acquired from Agnico Gold Mines Limited not too long ago. Since then, it had been in talks with Red Sucker First Nation since the property is located in the community’s territories. Yesterday, the company stated that the Red Sucker First Nation community had invited ONGold Resources to begin exploration activities again at the project.
Major Breakthrough
Some of the meetings that had taken place with the community at Winnipeg had led to the establishment of a framework agreement pertaining to the restart of exploration activities at the property. ONGold Resources went on to state that everyone at the company was thrilled at the prospect of restarting the exploration activities at the property. It remains to be seen if the latest news leads to more attention for the stock or not.
CEO Quote
Kyle Stanfield, CEO and Director of ONGold, commented, “We are thrilled to be coordinating the re-initiation of field exploration activities at the Monument Bay gold project with Red Sucker Lake First Nation. We are excited to be working with a community with a demonstrated history of dynamism and strong leadership across industry. The recently completed geological compilation has shown enormous potential for ONGold to increase the size of the historic gold resource in the coming months.”
