http://www.inventusmining.com/

 

 

Inventus Mining Corp (IVS-V) Show 'Inventus Mining Corp (IVS-V)' Company profile Profile   Search site for 'Inventus Mining Corp (IVS-V)' Search   - Website   - Forum   - SEDAR   - Chart  
Price: $0.30   Open Rec: See Strategy
Market Cap: $30,091,321   WC % of Mkt Cap: 0%
Working Cap: $95,664   As of: 6/30/2017
Issued: 100,304,403   Insider %: 64.2%
Diluted: 117,440,237   Share Collective:
Key People: Stefan Spears (CEO), Carmelo Marrelli (CFO), Paul Mankoo (COO), Andy Bite (VP EX)
Overview: Inventus Mining Corp listed on the TSXV on Sept 5, 2007 as a Haywood IPO called Ginguro Exploration Inc whose initial focus was the Minnitaki gold prospect in Ontario. In early 2008 Ginguro optioned the El Alto IOCG prospect in Chile but by early 2009 Michael Byron had resigned as CEO and in July 2009 Ginguro acquired a private company which had a 70% option on the Pardo project in Ontario plus 100% owned surrounding ground. Pardo is a paleoplacer gold prospect explored during the fifties for uranium after the Elliott Lake discovery and which was withdrawn from staking during the Bear Island Indian Caution from 1974-1996. Duncan McIvor, who died in 2010 of cancer at age 52, became interested in the gold potential through Randy Turner’s Triex in 1998-2000 and after his Endurance Gold Corp went IPO in 2005 he acquired Pardo which Endurance optioned to a private company that Ginguro acquired. Ginguro vested for 70% of Pardo in 2012 and dropped the Chilean project to focus on demonstrating a gold resource for the Witwatersrand style conglomerate beds. Rob McEwen started backing the Pardo project in early 2013 but Ginguro and Endurtance ended up in a dispute over expenditure allocation to ground owned 100% and 70% by Ginguro. Ginguro changed its name to Inventus on May 5, 2015 and in early 2016 Eric Sprott joined McEwen as a financial backer which was followed by a 2:1 rollback on May 12, 2016. In Nov 2016 Wayne Whymark retired to make way for Stefan Spears as the new Chairman & CEO. A week later Endurance agreed to sell its 35.5% Pardo interest for 25.5 million Inventus shares giving it 100% of the entire land package. The challenge for Inventus at Pardo is two-fold: 1) delineating the gold-bearing conglomerate beds which have undergone local block faulting, and, 2) coming up with a reliable method for measuring the gold grade of the nuggetty mineralization. The 2017 program involves drilling 130 shallow holes on a 50 m by 50 m grid and a 1,000 tonne bulk sample leading to a maiden resource estimate by early 2018.