- Michael Gentile, one of Canada’s most prominent junior mining investors, has taken a stake in Leviathan Gold (TSXV:LVX), a mineral explorer developing a trio of high-grade projects in Australia and Bosnia and Herzegovina
- Gentile purchased 5,250,000 of the 32,500,000 units sold during a recent private placement, representing C$525,000 and C$3,250,000, respectively
- Leviathan Gold is a Canadian-based mineral exploration company
- Leviathan Gold stock has added 88.46 per cent year-over-year
Michael Gentile, one of Canada’s most prominent junior mining investors, has taken a stake in Leviathan Gold (TSXV:LVX), a mineral explorer developing a trio of high-grade projects in Australia and Bosnia and Herzegovina.
Gentile is a co-founder of Bastion Asset Management, a firm focused on small to mid-cap stocks in Canada and the United States that has grown to over C$500 million in assets since 2022.
He purchased 5,250,000 of the 32,500,000 units sold during Leviathan’s recent private placement, representing C$525,000 and C$3,250,000, respectively, and now owns 8.54 per cent of issued and outstanding shares on a non-diluted basis. His stake rises to 12.29 per cent on a partially diluted basis assuming the full exercise of the half-warrant included within each unit.
The investment grants Gentile exposure to the Timor and Avoca projects, whose land packages touch at least 30 historical mining operations and gold occurrences, including evidence for bonanza grades. This is in addition to significant silver and base metal exploration upside from the recently acquired Foca project in Bosnia and Herzegovina. Funding will contribute to exploration activities across the company’s portfolio.
Leviathan adds well-known, highly-prospective properties to Gentile’s high-conviction portfolio, which, according to Friday’s news release, includes “significant top-five ownership stakes in over 20 small-cap mining and mining exploration companies.”
Leadership insights
“We are delighted to welcome Mr. Gentile as a strategic market-leading investor in Leviathan, and for his confidence in our property portfolio and executive team,” Luke Norman, Leviathan Gold’s president and chief executive officer, said in a statement. “We look forward to working with Mr. Gentile in proactively advancing Leviathan’s project portfolio and market presence.”
“Further, we are very excited to open this new chapter in the history of the company. Our Foca project in Bosnia is a tremendous asset located in an under-explored yet highly endowed metallogenic belt that is home to the likes of Adriatic Metal’s Vareš, project, the Trepča mines complex in Kosovo and others, clearly demanding a systematic modern-day approach to exploration,” Norman added. “Our early move in this district has allowed us to secure prime ground that includes the Vrela target, where historic drilling indicated an average mineralized thickness of 15 metres at 13.25 per cent lead (Pb) + zinc (Zn) over three diamond drill holes; recent rock chip sampling at this vicinity has returned values of up to 347 grams per ton silver (Ag), 10.1 per cent Pb and 40 per cent Zn.”
About Leviathan Gold
Leviathan Gold is a Canadian-based mineral exploration company with properties in Australia and Bosnia and Herzegovina.
Leviathan Gold stock (TSXV:LVX) is up by 22.5 per cent on the news trading at C$0.24 per share as of 9:58 am ET. The stock has added 88.46 per cent year-over-year.
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(Top image of Leviathan Gold logo: Leviathan Gold)
