The shares issued were fewer than the maximum of 937,500 shares, being the cap included in the option agreement, as the company's 10-day VWAP of $0.302 was above the 10-day VWAP at the time of signing the option agreement. The shares are subject to a hold period of four months and one day. The issuance of the shares to Strategic Mining represents the second payment required pursuant to the option agreement dated March 17, 2022, as amended, entered into with the vendor for the acquisition Jackpot Lake project in Nevada. Usha Resources Ltd (TSX-V:USHA) announced that it has issued 745,033 company common shares, at a deemed price of $0.302 per share, to Ares Strategic Mining (TSX-V:ARS) Inc, which price is based on Usha's 10-day volume-weighted average price (VWAP). While the higher grades were driven by ore sourced from high-grade stopes, the higher throughput resulted from an improvement in short range mine planning process, execution and mill availability, the broker said, adding the company anticipates continuing its operational improvements and guided towards a 1,000 tpd near-term target. The comments came as Pure Gold posted record monthly production of 4.59 koz (thousand ounces) on the back of improved throughput, of 813 tonnes per day (tpd), and higher grades of 5.9 grams per tonne (g/t). Stifel GMP retained its conservative short-term outlook on Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF), but thinks the life of mine plan and pre-feasibility studies due in quarter four will provide clarity on its long-term valuation. The consolidated shares remain trading on the TSX Venture Exchange under the symbol ‘EU’, with the consolidated shares trading on the OTC (over-the-counter) market now trading under the symbol ‘ENCUD’. EnCore Energy Corp announced that its shares began trading today on a consolidated basis of one new share for every three former shares in connection with the company's application to uplist its shares to the Nasdaq Stock Market.
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