Medgold Resources Corp (CVE:MED) is a European-focused, Canadian-listed, exploration and development company targeting gold properties in Portugal and Serbia. They’ve recently signed up two separate billion dollar mining companies to share risk and provide finance for their assets.
The bulk of the Portuguese portfolio is being funded by Centerra as part of an earn-in deal. Centerra has the option to earn 51% of the Boticas and Lagares licences in northern Portugal by spending US$3 mln over three years. It will then have the option to earn a further 19% by spending US$3 mln over a further two years.
In Serbia, the company has applied for nine licenses that are prospective for gold and base metals.
Going forward president Dan James says he's very confident. ''It's been a busy five years. We founded it into a very poor market, we've struggled in the early days as many juniors have but we've managed to keep exploring and I think that differentiates us. We haven't destroyed our share structure through raising money at five cents - we've done very sensible raises when we needed to and we've joint-ventured partners to allow the exploration to continue and we've continued drilling and exploring throughout the downturn.''
''The emergence of the change in the market is allowing us to accelerate now'', James adds.