KWGBF KWG Resources Inc featured news, full reports, and detailed charts
KWG Resources Inc (KWGBF/KWGBF.PK) Wrap Up:
KWG Resources Inc. engages in the exploration of base and precious metals, and diamonds in Canada. It has interests in chrome, nickel, base metal group, and diamond properties located in Ontario, Canada. The company has joint venture agreement with Spider Resources Inc. for the exploration of its properties. KWG Resources Inc. is headquartered in Montreal, Canada.KWG Resources Inc (KWGBF:Pink OTC Markets Inc)
Snapshot of KWG Resources Inc (KWGBF)
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OPEN
$0.07
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PREVIOUS CLOSE
$0.05
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DAY HIGH
$0.07
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DAY LOW
$0.06
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52 WEEK HIGH
10/19/09 - $0.08
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52 WEEK LOW
03/18/09 - $0.0014
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MARKET CAP
25.9M
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AVERAGE VOLUME 3 mo
31.1K
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
406.0M
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KWGBF Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
KWGBF Top Compensated Officers
Executives, Board Directors
Key developments for KWG Resources Inc (KWGBF)
Freewest Resources Canada Inc., Spider Resources Inc., and KWG Resources Inc. to provide an exploration update on the drilling at the Big Daddy Chromite property. Since starting the current exploration program on September 23, 2009, twenty drill holes totaling 5,776 metres, have been completed and two more holes are underway. These holes have continued to expand and delineate the Big Daddy Chromite prospect along strike and to depth. The total amount of drilling in the current campaign is estimated to be 11,000 metres in 28 drill holes, designed to test the entire geophysically inferred strike length of the Big Daddy prospect on the property to a depth of +/-250 metres at an optimum drill density of 100 metres, being the depth and density for a preliminary pit optimization review. Drill Program: Drilling has progressed significantly since the last report of October 14, 2009, when holes up to FW-09-31 were reported up to and including section 2000 metres East. Originally, holes were spaced at 100 metre stations along lines 200 metres apart, but now spacing has been tightened to 100 metres by 100 metres. Two of the newly reported holes were drilled on Section 2,100 metres East, thus extending the strike length to at least Section 2,100 metres. Drilling continues to successfully encounter chromite mineralization in each section. Since the start of the project in 2006 chromite mineralization has been established between section 900 metres East to and including section 2,100 metres East, for an inferred strike length of 1,300 metres thus far. Drilling will continue to explore the chromite mineralization towards the northeast, where faults are interpreted to have offset Big Daddy from the Probe Creek Zone and Freewest's Black Thor. In addition, drilling has commenced on a coincident magnetic and electromagnetic anomaly, that straddles the border between the Big Daddy property with four claims held by Freewest due north of the Big Daddy Property.
Freewest Resources Canada Inc., Spider Resources Inc. and KWG Resources Inc. provided an exploration update on the Big Daddy Chromite property. Eight drill holes, 2,073 meters, have been completed, and have tested the Big Daddy Chromite prospect (a magmatic chromium deposit type) along its geophysically inferred strike length to Line 20 East, and to a vertical depth of approximately 180 meters. The total amount of drilling in this campaign is estimated to be 11,000 meters in 28 drill holes. The drill program is deigned to test the entire geophysically inferred strike length on the property to a depth of +/-250 meters. Drilling has progressed significantly since the last report of October 1, 2009, where holes FW-09-24 and 25 were reported on section 1400 meters east. Drill spacing for this first pass of drilling was established at 200 meters, testing the entire geophysically inferred strike length to section 2000 meters east. Drilling has successfully encountered chromite mineralization in each section. Since the start of the project in 2006 chromite mineralization has been established from Line 900 meters East to and including Line 2000 meters East, for a strike length of 1100 meters thus far. Additional drilling is underway to the Northeast in an area where the geophysical expression of the chromite mineralization appears to be disrupted by faulting. Hole FW-09-26 entered a fault zone in pyroxenite between 9 and 45 meters depth and then continued in an altered pyroxenite to the end of the hole at 207 meters. No significant chromite mineralization was encountered. Hole FW-09-27 was designed to step back and undercut Hole FW-09-26. This hole encountered massive chromite between 173.3 and 186.8 meters (13.5 meters massive chromite), followed by a second zone of massive chromite mineralization between 208 and 247 meters (39 meters of massive chromite). Hole FW-09-28 was designed as a 200 meter northeasterly step out from holes FW-09-26 and 27. The hole encountered massive chromite between 39 and 60.5 meters (21.5 meters massive chromite). Hole FW-09-29 was designed to undercut Hole FW-09-28. Chromite mineralization was encountered between 117.4 and 136 meters (18.6 meters of massive chromite), followed by another zone of massive chromite with narrow beds of semi-massive chromite that was encountered between 234.8 and 244.3 meters (massive chromite over 9.5 meters), followed by a very thick bed of massive chromite between 248.6 and 323.5 meters (74.9 meters of massive chromite). Hole FW-09-30 was designed to test a 200 meter northeasterly step out from Holes FW-09-28 and 29. At the bedrock-overburden interface of 23.7 meters, the hole immediately entered massive chromite and stayed in this until 33.8 meters (10.1 meters of massive chromite subcropping). Hole FW-09-31 was designed to be a 200 meter step out from Holes FW-09-28 and 29 and to undercut Hole FW-09-30. Between 235.9 and 264.5 meters, massive chromite was encountered (28.6 meters of massive chromite).
Freewest Resources Canada Inc., Spider Resources Inc., and KWG Resources Inc. announced the start-up of an 11,000 metre drill program on the Big Daddy Chromite property, which comprises of four 16 unit claims, one 12 unit claim plus two additional one unit claims (1,248 hectare property), pursuant to the first year commitment on an Amended Option Agreement with Freewest dated September 10, 2009. As stated on September 14, 2009, KWG and Spider have committed to undertake an exploration program on the Big Daddy Chromite Property under which an aggregate of at least $5 million must be spent by March 31, 2010, in order for Spider and KWG to earn an additional 1.5% each (3.0% in aggregate), bringing each Optionees respective interest level to 26.5%. The field aspect of this program has commenced, with crews arriving on September 20, 2009. Field operations are currently based out of the Billiken Management Services Ltd.'s Base camp, located at McFaulds Lake. Cabo Drilling (Ontario) Corp. was recently awarded the diamond drilling contract portion of the program. It is anticipated that approximately 11,000 metres of diamond drilling will be completed during the current phase of exploration, the results of which will be incorporated into an initial resource estimate for Big Daddy. In addition, Aecom Canada has recently been awarded the contract for Base Line Environmental work and Traditional Knowledge studies both of which will involve the project's First Nation neighbors, and will be undertaken to provide the necessary information for future development plans.
KWGBF Competitors
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Industry Analysis
| Valuation | KWGBF | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | 1.8x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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KWGBF |
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KWGBF transactions
| Type Date |
Target |
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Private Placement
November 11, 2009 |
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Private Placement
August 4, 2009 |
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