i-80 Gold (TSX: IAU) isn't allowed to interfere in North Peak Resources (TSXV: NPR)'s proposed transaction to acquire the Prospect Mountain Mine Complex. It would be illegal tampering if they did. The LOI gives NPR the right to work exclusively until June 6, 2023 on the execution of a binding, definitive agreement. It is very close to being a done deal and they are negotiating "return and reversion rights". Meaning, if NPR breaks their promise to spend millions of dollars drilling at the Prospect Mountain Mine Complex the current owners will be able to get the property back by returning their NPR shares. Unlike European American Resources in 1997-2001, NPR has a large cash position and the ability to raise tens of millions more later this year after they begin intercepting bonanza grades of gold at the Prospect Mountain Mine Complex. This is very similar to when NPR's CEO founded Kirkland Lake Gold.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 60,000 shares of NPR in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.