Over the summer it had become a little quieter around our Newfoundland gold explorer Matador Mining (ASX 🙂 (WKN A2DKV4 / ASX MZZ) – until the Australian company recently reported the first excellent drill results from its Cape Ray project. A large Canadian asset manager seems to have taken this as an opportunity to significantly expand its stake in Matador!
As we reported, a few days ago, Matador presented the first drill results from Cape Ray, including mineralization with gold contents of up to 36 g / t per ton https://goldinvest.de/mining/262-matador-mining-ltd/ 5220-matador-mining-shows-up-to-36-gt-gold-in-newfoundland-by-contained-. Above all, the results showed the potential that exists on the project to significantly expand the existing resource of around 840,000 ounces. And the company hopes that analysis results from the 20,000 meter drill program will now come in regularly.
Whether there is actually a direct connection is an open question, but in our opinion it is a vote of confidence and accolade that the Canadian fund manager CI Investments Inc. is acquiring 3,669,975 Matador shares and increasing its stake in the Australian company from 6.07 to 7, 76% expanded!
Conclusion: CI Investments Inc. is a subsidiary of NYSE-listed CI Fincial, which had assets under management totaling $ 309.3 billion in July – and is therefore not a lightweight in the market. Of course, the CI Investments managers don’t have a crystal ball either and cannot guarantee positive development at Matador, but they will have carefully considered it and, above all, carefully examined it before deciding to expand their position. In this respect, this news is a strong confirmation for the company, but also for us, who have been reporting on Matador for quite a while. We are now looking forward to the next results and the news flow for the coming weeks and months, which will hopefully increase significantly as expected by the company.
In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH shares in Conico Ltd. can hold and thus a conflict of interest could exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical information and opinion generation can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party representing Matador Mining, which creates a conflict of interest, especially since this third party pays GOLDINVEST Consulting GmbH for reporting on Matador Mining. This is another conflict of interest.