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Market: ASX
Sector: General Mining - Gold
EPIC: TON
Latest Price: A$0.04  (0,00%)
52-week High: A$0.07
52-week Low: A$0.03
Market Cap: A$4.51M
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Triton Gold Limited
www.tritongold.com.au

Triton Gold (ASX: TON) is a mineral explorer and resource management company headquartered in Perth, Australia. The Company applies exploration techniques to geologically fertile areas in Australia and elsewhere in the world that enable quick and precise detection of the next generation of economic mineral resources.

 

They hold the rights to explore for gold on Poseidon Nickel’s Windarra project tenements (Laverton WA), which have historically had a nickel focus.

Full Triton Gold Limited profile here
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Triton Gold new strategy to strengthen current portfolio of projects

15th Jul 2011, 3:38 am

Triton Gold (ASX: TON) has conducted a strategic review of the company's current exploration projects and of other potential projects in which it can partner, and will now review in more depth a number of developing opportunities.

These opportunities are focussed on obtaining a key project with a strong chance of success.

The board said that the new strategy to consider various opportunities for new projects will facilitate a strengthening of the company’s current portfolio and will ultimately assist in securing the company’s financial position and future growth potential.

Triton currently has some strategically well placed projects, as the company has one of the largest land positions in the highly prospective Albany Fraser province behind AngloGold Ashanti Ltd (NYSE: AU, JNB: ANG) and Independence Group (ASX: IGO), with the province emerging as a significant gold province over the last decade.

Other current projects of Triton include the Windarra Project - which the company said has the potential to host significant gold mineralisation that may have gone undetected due to the previous operators focus on nickel.

Triton has the right to explore for gold in the Windarra district, under a Gold Rights Transfer Agreement with Poseidon Nickel (ASX: POS).

At another project, in a joint venture with Tushtena Resources and Panoramic Resources (ASX: PAN), Triton is exploring the Tushtena Project within the Tintina Gold Belt of southeast Alaska.

The Tintina Gold Belt hosts world-class gold deposits such as the 5.6 million gold ounce Pogo owned by Sumitomo Metal Mining (TYO: 5713), and the Kinross Gold Corporation (NYSE: KGC) Fort Knox 3.6 million gold ounce mine.

In other Triton news, Allen Govey, managing director, has resigned and will complete a three month notice period.

Triton has $2.2 million in cash in April 2011.

Poseidon Nickel is the major shareholder of Triton with 8.6%, with directors and founders 7.9% and Subiaco Capital 6.9%.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

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