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Delta Resources ($DLTA.V): Major Updates Fuel Growth Potential
Delta Resources ($DLTA.V) is a Canadian mineral exploration company focused on advancing its flagship Delta-1 gold project, located approximately 50 km west of Thunder Bay, Ontario. The Delta-1 property spans over 308 square kilometers in the highly prospective Shebandowan Greenstone
Belt, an area known for its extensive corridors of alteration and deformation—key indicators for significant gold deposits.
A standout feature of the project is the Eureka Zone, a 2.5-kilometer gold-bearing strike that extends from surface to a depth of 300 meters. This discovery highlights the property’s potential to host a substantial gold deposit, placing Delta in a strong position for further resource expansion.
In a significant step forward, Delta recently completed a $5 million private placement, issuing 25 million Charity Flow-Through Units at $0.20 per unit. Each unit comprises:
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One flow-through common share, and
- One non-flow-through share purchase warrant, exercisable at $0.25 for 36 months.
What sets this financing apart is the 52% insider participation by the Board of Directors. This level of commitment underscores the confidence of Delta’s leadership in the project and reflects their alignment with shareholder interests. The proceeds will be used to expand the known Gold inventory.
Adding to its momentum, Delta has strengthened its leadership with the appointment of Ron Kopas to the
Board of Directors. Kopas brings an exceptional track record in private equity, corporate finance, and international business development. Over his career, he has worked with leading investors, including Goldman Sachs and Fidelity, and has extensive expertise in the energy and resource sectors.
Key highlights of Kopas’s career include:
- Founding KSP Renewables, where he developed a £350 million energy recovery project in the UK, later sold to Covanta Europe.
- Corporate finance roles at UBS Warburg (London) and KC Capital.
- Holding a BA from Dalhousie University and an MBA from INSEAD, France.
Kopas’s experience in building teams, raising capital, and fostering strong corporate governance positions him as a game-changing addition to Delta’s Board.
With gold prices at all-time highs and Delta’s market capitalization at just C$13 million, the company is uniquely positioned for substantial growth. A combination of fresh capital, a strengthened
leadership team, and an aggressive exploration strategy sets the stage for exciting developments at Delta Resources. Stay tuned—there’s a lot more to come!
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| | Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are “forward looking
information” within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with
respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.
Information contained herein has been obtained from sources believed to be
reliable, but there is no guarantee as to completeness or accuracy. Because individual investment objectives vary, this Summary should not be construed as advice to meet the particular needs of the reader. Any opinions expressed herein are statements of our judgment as of this date and are subject to change without notice. Any action taken as a result of reading this independent market research is solely the responsibility of the reader.
The Morgan Report is not and does not profess to be a professional investment advisor, and strongly encourages all readers to consult with their own personal financial advisors, attorneys, and accountants before making any investment decision. The Morgan Report and/or independent consultants or members of their families may have a position in the securities mentioned. Mr. Morgan does consult on a
paid basis both with private investors and various companies. Investing and speculation are inherently risky and should not be undertaken without professional advice. By your act of reading this independent market research letter, you fully and explicitly agree that The Morgan Report will not be held liable or responsible for any decisions you make regarding any information discussed herein. |
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(c) 2024 The Morgan Report | David
Morgan |
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