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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Centerra Gold Inc.    CG   CA1520061021

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Riverside Resources : And Centerra Commence Drill Program At The Glor Gold Project In Sonora, Mexico

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12/13/2017 | 04:36pm CET

Vancouver, BC: Riverside Resources Inc. ('Riverside' or the 'Company') (TSX-V: RRI), is pleased to announce that partner, Centerra Gold Inc. ('Centerra'), has commenced a 1,200+ metre drill program at the Glor Project (the 'Project').

Roadwork and other preparations have been completed to access new drill targets within the Puerto El Alamo target area. This campaign will focus on gold targets that have been developed in the past 8 months by exploration programs that included detailed mapping, a detailed soil geochemistry survey, two ground magnetics surveys and an induced polarization survey. Centerra has been funding exploration work at the 48 km2 Glor Project since it entered into an option to joint venture agreement with Riverside in 2016.

The Glor Project is located approximately 12 km west of Alamos Gold's El Chanate Mine in Sonora, Mexico, and has five defined gold target areas, with Puerto El Alamo currently being drilled. Centerra's senior management completed site visits in November to review the details of the planned drilling and confirmed the targeting concepts that were developed from recent geochemical and geophysical survey data obtained from the Puerto El Alamo target area since July of this year.

A diamond drill rig has been mobilized to the Puerto El Alamo target and drilling of the 1,200+ metre drill campaign has begun. The locations of the first six holes have been selected and additional holes may be added to the program, depending on results obtained by the initial boreholes.

President and CEO, John-Mark Staude stated: 'We are delighted to be drilling again at Glor and testing large open-pit style targets. We look forward to receiving results from the first holes in early 2018 and are pleased with Centerra's support, as we work closely together to develop and drill-test high-potential gold targets. We are always pleased to deliver discovery exposure to our shareholders, especially at targets close to existing mining operations.'

Corporate News

Riverside would like to report that Joness Lang has joined the Company's Advisory Committee as he steps down from the Vice President of Corporate Development role to pursue new business directions. Riverside appreciates that Joness will be actively involved going forward with Riverside as a key contributor on the Advisory Committee and continues to be a shareholder.

Staude stated: 'We are pleased to have Joness join our Advisory Committee, as his capital markets and corporate development experience will nicely complement the technical expertise of the existing members on the Committee. Joness has made important contributions to Riverside as a senior executive and will continue to support the Company in an advisory capacity going forward.'

The Company recently granted 800,000 incentive stock options to certain Directors, Officers and Consultants. The Options are exercisable at $0.28 for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in three equal installments over 18 months and Options granted to Officers and Consultants vest in four equal installments over 12 months. The Options were granted pursuant to the Company's shareholder-approved stock option plan. The Options are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods. At the same time, the Company issued 230,000 shares at a deemed price of $0.28 to certain Directors, Officers and Consultants of the Company in accordance with the Company's shareholder approved bonus share plan. Both shares and options are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

About Riverside Resources Inc.

Riverside is a well-funded exploration company that is driven by value generation and discovery. The company has approximately $3,500,000 in cash, less than 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a diverse portfolio of properties. In addition to Riverside's own exploration spending, the Company also aims to diversify risk by securing joint-venture and spin-out partnerships to generate more discovery chances and advance multiple assets simultaneously. Riverside has additional properties available for option, with more information available on the Company's website at www.rivres.com.


Tel: (778) 327-6671

Fax: (778) 327-6675

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., 'expect',' estimates', 'intends', 'anticipates', 'believes', 'plans'). Such information involves known and unknown risks-including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

(C) 2017 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2017 1 192 M
EBIT 2017 357 M
Net income 2017 186 M
Debt 2017 284 M
Yield 2017 0,22%
P/E ratio 2017 8,21
P/E ratio 2018 9,54
EV / Sales 2017 1,58x
EV / Sales 2018 1,30x
Capitalization 1 597 M
Duration : Period :
Centerra Gold Inc. Technical Analysis Chart | CG | CA1520061021 | 4-Traders
Technical analysis trends CENTERRA GOLD INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 10
Average target price 7,88 $
Spread / Average Target 44%
EPS Revisions
Scott Graeme Perry Chief Executive Officer & Director
Frank H. Herbert President
Stephen A. Lang Non-Executive Chairman
Gordon D. Reid Chief Operating Officer & Vice President
Darren J. Millman Chief Financial Officer & Vice President
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