New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.7m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 66% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$7.42m market cap, or US$5.48m). Minor Risks Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Significant insider selling over the past 3 months (CA$428k sold). Recent Insider Transactions • Jul 21
Independent Director recently sold CA$359k worth of stock On the 18th of July, Randolph Kasum sold around 2m shares on-market at roughly CA$0.17 per share. This transaction amounted to 76% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$335k more than they bought in the last 12 months. Duyuru • Jul 01
Optimum Ventures Ltd., Annual General Meeting, Aug 31, 2023 Optimum Ventures Ltd., Annual General Meeting, Aug 31, 2023. Duyuru • Jun 21
Blackwolf Copper and Gold Ltd. (TSXV:BWCG) entered a non-binding letter of intent to acquire Optimum Ventures Ltd. (TSXV:OPV) for CAD 8.7 million. Blackwolf Copper and Gold Ltd. (TSXV:BWCG) entered a non-binding letter of intent to acquire Optimum Ventures Ltd. (TSXV:OPV) for CAD 8.7 million on June 20, 2023. The LOI contemplates that the shareholders of Optimum will receive 0.65 of a Blackwolf common share for each Optimum common share held, which will result in the Optimum shareholders collectively owning approximately 26% of the resultant company’s outstanding common shares (on a non-diluted basis and prior to any issuances of securities by either company prior to closing). Following the successful closing of this transaction, Andrew Bowering will be appointed to the board of Directors of Blackwolf. On completion of the proposed transaction, the composition of the board of directors of the resulting company will consist of six, five of which will be current members of the board of directors of Blackwolf or chosen by Blackwolf and one will be Andrew Bowering, the nominee of Optimum.
The completion of the proposed transaction is subject to a number of conditions precedent, including: (i) satisfactory due diligence review, (ii) negotiation and execution of a definitive agreement respecting the proposed transaction; (iii) approval by the boards of directors of each of Blackwolf and Optimum, (iv) approval of the shareholders of Optimum at a special meeting of the shareholders of Optimum; (v) court approval of the Plan of Arrangement, and (vi) obtaining necessary third party approvals, including TSX Venture Exchange acceptance. Transaction is also subject to Optimum Ventures having minimum working capital of CAD 0.75 million. Each of Optimum’s directors and officers and certain other significant Optimum shareholders, collectively holding in aggregate at least 30% of the outstanding shares of Optimum, are expected to enter into voting support agreements in favour of the proposed transaction. Duyuru • Feb 17
Optimum Ventures Ltd. Receives Positive Assay Results on the Harry Property in Northwest British Columbia Optimum Ventures Ltd. announced positive precious and base metal assay results from a Shaw drilling program on the Company's Harry property located near Stewart in northwest British Columbia. The Harry Project is positioned within a 200 Kilometre (“km”) long northwest-trending corridor with-in the prolific Golden Triangle, home to multiple high-grade gold deposits and discoveries. The Harry Property hosts several 500 metre (“m”) wide zones of intense alteration that trend northwest along the claim length with several different mineralization types, as follows: Quartz and quartz breccias with sphalerite (zinc sulphide), galena (lead sulphide), chalcopyrite (copper-iron sulphide), tetrahedrite (copper-antimony sulphosalts), pyrite (iron sulphide) and occasionally fine visible gold. Gold-silver enriched volcanogenic massive sulphide (VMS) type of mineralization like that of the famous Eskay Creek deposit. Enhanced gold associated with arsenopyrite (iron-arsenic sulphide) in sericite altered rocks. The Sheeted Vein zone consists of parallel northwest-striking quartz-sulfide veins that dip to the east, across widths of at least 7 metres and hosting semi-massive to massive galena, green sphalerite, and tetrahedrite masses along a quartz stockwork. The zone is exposed over 15 m of strike length but then dips into the hillside. Drilling was conducted to test the various parallel veins, with the bottom-most vein exhibiting massive galena and sphalerite over a width of 1 m. Assay values for the entire Sheeted Vein zone range from <0.005 to 0.477 grams per tonne (“g/t”) gold (“Au”), 1.2 to 1,511 g/t silver (“Ag”), 51 parts per million (“ppm”) to 1.7% copper (“Cu”), 122 ppm to 39.74% and 335 ppm to 22.95% zinc (“Zn”). The Saw Cut zone outcrops and has been exposed over a 40 m strike length, with shallow Shaw drill core samples showing sulphide mineralization consisting of pyrrhotite, galena, sphalerite, chalcopyrite, and pyrite in semi-massive to massive veins, stringers, and interstitials within brecciated zones and/or disseminated throughout the core. The zone is hosted in mudstone, dacite tuff, and mudstone-supported dacite lapilli-tuff containing 1 to 30% pyrite, trace to 8% sphalerite, and trace to minor galena. The Saw Cut zone is believed to belong to a gold-silver enriched VMS type mineralization like that of the famous Eskay Creek deposit. Assay values for the entire Saw Cut zone range from 0.006 to 2.886 g/t gold, <0.05 to 132 g/t silver, 33 ppm to 112 ppm copper, 316 ppm to 0.715% and 44 ppm to 5.02% zinc. Assay have been completed by MSA Labs in Langley BC, an accredited facility. The company is awaiting assay results from 2,128 metres of drilling completed in 2022 to be released over shortly. Duyuru • Dec 16
Optimum Ventures Ltd. (TSXV:OPV) acquired 1309762 B.C. Ltd. Optimum Ventures Ltd. (TSXV:OPV) entered into a share exchange agreement to acquire 1309762 B.C. Ltd. for CAD 0.75 million on November 24, 2022. 1309762 B.C. Ltd. owns 19 contiguous mining claims forming the Salmon Property covering approximately 208 hectares in the Hyder Mining District situated in southeastern Alaska. Under the terms of the Agreement, the shareholders of Vendor will exchange all of the issued and outstanding shares of Vendor to the Company in exchange for 3,000,000 Optimum Shares at a deemed value of the Discounted Market Price (as such term is defined in the TSXV Corporate Finance Manual) per Optimum Share. Closing of the Transaction is subject to a number of conditions including the approval of the TSXV and completion of a technical report prepared in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Transaction is an arms length transaction for purposes of the policies of the TSXV and the Company expects that the Transaction will meet the criteria of an "Expedited Acquisition" pursuant to Policy 5.3 – Acquisitions and Disposition of Non-Cash Assets of the Corporate Finance Manual. In connection with the Transaction and as consideration for the benefit provided by 1330841 BC Ltd. (the “Finder”) in identifying and introducing to the Company the opportunity to acquire all of the issued and outstanding shares of the Vendor, the Company agreed to pay the arms length Finder a finder’s fee consisting of 150,000 common shares of Optimum (the “Finder’s Shares”) to the Finder subject to the approval of the TSXV. The Optimum Shares and any Finder's Shares issuable in connection with the Transaction will, upon closing, be subject to a statutory four month and one day hold period from the closing date.
Optimum Ventures Ltd. (TSXV:OPV) acquired 1309762 B.C. Ltd. on December 14, 2022. Duyuru • Nov 26
Optimum Ventures Ltd. (TSXV:OPV) entered into a share exchange agreement to acquire 1309762 B.C. Ltd. for CAD 0.75 million. Optimum Ventures Ltd. (TSXV:OPV) entered into a share exchange agreement to acquire 1309762 B.C. Ltd. for CAD 0.75 million on November 24, 2022. 1309762 B.C. Ltd. owns 19 contiguous mining claims forming the Salmon Property covering approximately 208 hectares in the Hyder Mining District situated in southeastern Alaska. Under the terms of the Agreement, the shareholders of Vendor will exchange all of the issued and outstanding shares of Vendor to the Company in exchange for 3,000,000 Optimum Shares at a deemed value of the Discounted Market Price (as such term is defined in the TSXV Corporate Finance Manual) per Optimum Share. Closing of the Transaction is subject to a number of conditions including the approval of the TSXV and completion of a technical report prepared in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Transaction is an arms length transaction for purposes of the policies of the TSXV and the Company expects that the Transaction will meet the criteria of an "Expedited Acquisition" pursuant to Policy 5.3 – Acquisitions and Disposition of Non-Cash Assets of the Corporate Finance Manual. In connection with the Transaction and as consideration for the benefit provided by 1330841 BC Ltd. (the “Finder”) in identifying and introducing to the Company the opportunity to acquire all of the issued and outstanding shares of the Vendor, the Company agreed to pay the arms length Finder a finder’s fee consisting of 150,000 common shares of Optimum (the “Finder’s Shares”) to the Finder subject to the approval of the TSXV. The Optimum Shares and any Finder's Shares issuable in connection with the Transaction will, upon closing, be subject to a statutory four month and one day hold period from the closing date. Duyuru • Oct 25
Optimum Ventures Commences Drill Program on the Harry Property in Northwest British Columbia Optimum Ventures Ltd. announce the start of drilling at its Harry Project located within the Golden Triangle near Stewart, BC. The Harry Project is situated within a 200 kilometre (“km”) long northwest trending corridor hosting numerous high-grade gold occurrences and discoveries. It is just 30 km southwest of the Eskay Creek Mine and strategically located between Ascot Resources Ltd.’s Premier Mine and Newcrest Mining’s Brucejack Mine. Sunbeam Drilling has commenced operations utilizing a B-15 drill running NQ core and a JK Smit helicopter portable drill using BTW core. This season’s program is planned to test several new zones discovered earlier this year during prospecting, mapping and, in some instances, Shaw shallow surface drilling. Priority is being given to the Swann, BR, Ursula, Ursula South, Saw Cut, and GS zones, where to date over 1000 surface talus fines, chip samples, grab samples, saw cut samples and Shaw drill core has been sent for assay. Some early results were released by the Company on September 22, 2022, indicating gold and silver values occur in every zone. Additional assay results will be released as available. The initial drilling campaign is planned and financed for 2,500 metres (“m”) and is scheduled to test these multiple zones of gold-silver bearing poly-metallic sulphide mineralization where surface prospecting coupled with surface exposure Shaw drilling has established multiple prospective targets for follow-up drilling. The Saw Cut zone outcrops and has been exposed over a strike length of 40 metres. Sampling along its exposed length in shallow Shaw drill core returned sulphide mineralization consisting of pyrrhotite, galena, sphalerite, chalcopyrite, and pyrite in semi-massive to massive veins, stringers, and interstitials within brecciated zones and/or disseminated throughout the core. The zone is hosted in mudstone, dacite tuff and mudstone supported dacite lapilli-tuff which contain from 1 to 30% pyrite, locally trace to 8% sphalerite and trace to minor galena. Three grab samples collected from the zone were submitted for gold and silver assaying at Seacan Labs based in Stewart, BC. The samples returned up to 5.40 g/t gold and 156.4 g/t silver. Geological data gathered to date indicates that the Saw Cut zone belongs to a gold-silver enriched volcanogenic massive sulphide (VMS) type of mineralization like that of the famous Eskay Creek deposit located just 30 km north of the Harry project. Drilling using the B-15 diamond drill has commenced on the Saw Cut zone where a four drill hole program is just being completed. Observations of the core indicate sections of semi massive sulphides. On completion of drilling at Saw Cut, the drill will immediately be moved to the BR zone. More recently, crews have exposed parts of the Swann zone in an area of deep overburden where the current drilling is aiming to expand the strike of the zone. Duyuru • Sep 28
Optimum Ventures Samples 2.3 g/t Au and 5477.4 g/t Ag on the Golden Summit Zone and 26.6 g/t Au and 1003.2 g/t Ag on the BR Zone on the Harry Property Optimum Ventures Ltd. announced that the Company has received the gold and silver assays for select samples from BR, Usrula and Golden Summit zones located on the Harry property. Highlights of the sampling include: 1.8 to 26.6 g/t Au and 282.9 to 1003.2 g/t Ag from 5 samples on the BR zone; 0.8 to 6.5 g/t gold and 131.3 to 208.1 g/t silver on the Ursula zone; 0.1 to 2.3 g/t Au and 470.3 to 5477.4 g/t Ag on the Golden Summit zone. Grab sample assaying of this zone were ranging from 0.1 to 5.4 g/t Au and 10.2 to 158.4 g/t Ag (from 3 samples) associated with the strong sphalerite mineralization. The new zone Ursula South consists of mineralization of a stockwork of galena-sphalerite veins up to 0.8 m wide over a width of 5 m. This new zone is located in an overburden area approximately 75 m south of the Ursula zone. Assays were conducted by Seacan Labs Stewart based in Stewart BC. Duyuru • Sep 18
Optimum Ventures Completes IP Survey on the Harry Property Optimum Ventures Ltd. announced that the Company has completed an induced polarization (IP) and magnetic geophysical surveying at The Harry Project within the "Golden Triangle "of Stewart BC, Canada. IP surveying has yielded new and important information that will help guide drilling and surface exploration work. This survey was carried out to outline known structures and uncover unknown structures due to overburden in the area. This has outlined areas of sulphide concentrations as well as areas of quartz – sulphide stock works. The final survey report has demonstrated the program's success by outlining numerous anomalies. Twenty-seven chargeability anomalies (first to third order) have been identified. Drilling targets can now be selected from the first priority on the 2D sections for future exploration follow-up. The east side of the Grid (L7E, L8E, and L9E), depict the strongest chargeability at both extents of the profiles. The western profiles (L5E, L6E, and L11E) depict the strongest chargeability in the central parts of the sections. Discovery of new zone Ursula South. The first and second priority zones are relatively shallow compared to the third priority zone, which extends to a depth of more than 300m. Aside from anomalous zones, overall chargeability is in the high range, which reflects major amounts of pyrite and high sulphide percentage in the survey area. The chargeability zones are generally controlled by the sub-vertical faults. The Company has completed several drill pads to: Test a strong IP anomaly over the Golden Summit zone mineralization. Test the mineralization on the Swann. Test the mineralization on the BR located a short distance above the Swann. Test the wide zone of mineralization on the Saw Cut zone. Exploration is presently working at exposing the strike and dip of the Swann zone to aid in the azimuth and dip of drilling going forward. Drilling is expected to commence within the next couple of weeks. To date, the Company has sent approximately 1000 surface rock samples collected based on their sulphide content and talus fines, as well as Shaw drill core for assaying. Duyuru • Aug 19
Optimum Ventures Discovers Several New Zones of Mineralization on the Harry Property Optimum Ventures Ltd. to report several new zones of mineralization on the Company's Harry property located in the Golden Triangle in NW British Columbia. Recent mapping has indicated a sequence of volcanic rocks in the NE portion of the claim block with thick sections of mudstone in the SW, both of which are intensely altered with zones of mineralization with an abundance of sericite and pyrite. Quartz veins, quartz breccias, and semi-massive sulphides also occur within these alteration zones. These wide zones of intense alteration trend N and NW along the claim length. This type of alteration and mineralization is similar to nearby gold deposits being developed at the Premier mine and at Brucejack Lake, with mineralization in the mudstone similar to Eskay Creek. Summit Located in the NW corner of the claim group, a quartz breccia zone 1-2 m wide, part of a 50m wide alteration corridor carries pockets and stringers of tetrahedrite, green sphalerite (similar to that of the Swann zone 1km SE) and galena with minor pyrite. In the footwall region of the zone, several parallel zones of quartz breccia with sulphides occur. Drill pads are presently being constructed for planned drilling in early September, consisting of short holes to test the width and tenor of gold-silver-lead-zinc mineralization. Milestone Discovered in 2020, this new mineralized zone in quartz breccias associated with fine arsenopyrite averaged 2 m of 7.86 oz/ton gold (269.5 g/t), with the full width of this new zone not being truly defined due to overburden cover. The Company plans to complete Shaw shallow drilling on the area of coarse gold and an east extension. BR (new): Located near the Swann zone, BR is approximately 100m higher in elevation. The zone consists of massive galena with minor sphalerite veinlets in a stockwork zone. The zone is poorly exposed in an overburden-covered area. Further work is required to determine if it is part of the Swann zone. Several drill holes are planned in this highly accessible zone. Ursula (new) The zone consists of massive pyrite with minor galena and sphalerite exposed over 10 m wide. Galena-rich boulders up to 1m in diameter located down ice from an overburden-covered area in the zone indicate the possibility of strike extension. Chip sampling and Shaw drill testing are planned for this zone. Saw Cut (new): A zone of pyrite and sphalerite in mudstones was located along the edge of the Salmon Glacier with the presence of hydrozincite and zinc carbonate over an extensive area. Coarse pyrite and fine sphalerite occur along layers of fine beds in this zone. This mineralization type appears to be similar to the Eskay Creek deposit. Further sampling and drilling are to be planned here. GS (new): A new discovery occurring within north trending sediments including, galena and sphalerite mineralization along a stockwork zone. Additional sampling is planned as the Company continues to define this new discovery. Duyuru • Apr 21
Optimum Ventures Ltd. Reports the Results from 2021 Surface Exploration Program Conducted on the Harry Property in Northwestern British Columbia Optimum Ventures Ltd. reported the results from its 2021 surface exploration program conducted on the Harry Property in Northwestern British Columbia, prior to the onset of winter. Results are for 4 short drill holes testing the area of high-grade gold-silver base metal bearing boulders as well as numerous boulders in the area of the Swann zone. Several other areas of the property were investigated and returned positive results indicating additional target areas for 2022 exploration. Highlights: Hole S21-3 intersected 15.64m grading 1,437 g/t Silver Equivalent (433.4 g/t Ag, 3.10 g/t Au, plus significant base metal credits). Hole S21.4 intersected 9.26m grading 1,833 g/t Silver Equivalent (690.15 g/t Ag, 1.64 g/t Au plus significant base metal credits). Sampling from a float boulder train produced high-grade results: the average value of 22 samples taken from the vicinity of the Swann showings is 74.22 g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18 % Cu and 28.9 % Zn. The 2021 exploration concentrated on a broad zone of quartz-sericite-pyrite (QSP) alteration hosting several showings, two of which, the Milestone and Swann, have featured visible gold in surface samples. An outcrop of Premier Porphyry, a particular type of intrusive known to be spatially associated with precious metal mineralization at the nearby, formerly-producing Premier gold mine (now owned by Ascot Resources), has been observed in the vicinity of the Milestone and Swann showings. Four short holes were drilled during the abbreviated 2021 program. The last two of the holes intersected the Swann zone in an overburden covered area, indicating it was an east-dipping stockwork. Based on the initial drilling, interpreted width of the Swann zone appears to be in the order of 5-7m. The first 2 holes of the program appear to have penetrated the footwall region of the Swann zone with narrow stringers of base metal in quartz containing low precious metal values. DDH21-2 had 0.91m of 11.77 Ag and 2.17% Zn as well as 3.05 m of 21.66 g/t Ag and 2.24 % Zn. Continued Surface Sampling: The Company forwarded an additional 16 grab samples taken from Swann zone boulders for assaying along with the core samples. Results of these sent grab samples on the Swann zone include up to: 286,2 g/t Au, 2202 g/t Ag, 62.19 % Pb, 2.87 % Cu and 28.9% Zn. The 22 samples collected to date (initial 6 reported previously plus these additional 16) from the discovery boulders show a range of 0.76 to 286.2 g/t Au, 246 to 2202 g/t Ag, 21.5 to 57.33 % Pb, 0.07 to 2.87 % Cu and 0.41 to 32.11 % Zn. The average value of these samples is: 74.22 g/t Au, 842.9 g/t Ag, 37.6 % Pb, 1.18 % Cu and 28.9 % Zn. Of particular interest, narrow sulphide stringer sin bedrock parallel to the indicated strike of the Swann zone located within 25 m of the discovery boulders showed high gold and silver values. Sample A21-62 from one of these stringers assayed 45.2 g/t Au, 1111 g/t Ag, 9.38 % Pb, 2.74 % Cu and 20.88% Zn. In addition, reconnaissance sampling was carried out on mineralized sub crop quartz along several other QSP zones along the lower Granduc Road prior to snowfall. These east-west zones of sub crop appear to be up to 5 m wide with strong pyrite veining and narrow quartz veining with base metals. One zone is located 1.7 km south of the Swann zone and sampling indicates up to 1.99 g/t Au and 15.63 g/t Ag, another zone 1.5 km south gave 1.58 g/t Au and 65.92 g/t Ag while a third zone 1.2 km south assayed 2.17 g/t Au and 245 g/t Ag. Duyuru • Feb 15
Optimum Ventures Ltd., Annual General Meeting, Apr 20, 2022 Optimum Ventures Ltd., Annual General Meeting, Apr 20, 2022. Duyuru • Jan 22
Teuton Resources Corp. Announces Second Visible Gold Occurrence Found on Harry Property, Golden Triangle Teuton Resources Corp. announced that Optimum Ventures Ltd. ("Optimum"), optionee of the Company's Harry property, has reported partial assay results from surface sampling. The property is located 25km north of Stewart, British Columbia, adjoining the Premier-Dilworth property of Ascot Resources to the west. The 2021 work was successful in identifying a number of new structures as shown on the attached maps. Highlights of sampling indicate: Six separate quartz-sulphide structures in a small northeastern part of the claim area. Discovery of the new Swann zone several hundred meters from the Milestone showing. (The Milestone was found in 2020 and ran 7.86 oz/ton gold over 2.0m). Identification of fine visible gold in semi-massive to massive sulphide in the Swann zone (assays pending)--2nd visible gold occurrence found on the property to date. Identification of Premier porphyry intrusive in contact with mineralized zones (similar to the host rock of the Premier gold deposit). The property features several 500m wide zones of intense alteration that trend northwest along the length of the claim. Within this intense alteration, sericite along with abundant pyrite is prevalent. Surface exploration completed in late 2021 on a small portion of the Harry property, less than 10% of the claims area, indicates that sulphide zones occur within quartz bearing structures trending both east-west (south dip) and northwest structures dipping east. At intersection points, semi-massive to massive sulphides occur, namely sphalerite, galena, tetrahedrite, chalcopyrite and pyrite. Fine visible gold is occasionally present within the massive mineralization. Duyuru • Dec 16
Optimum Ventures Ltd. announced that it has received CAD 2.32 million in funding On December 14, 2021, Optimum Ventures Ltd. closed the transaction. The company amended the terms of the transaction due to high investor demand and issued 4,640,000 flow-through common shares for gross proceeds of CAD 2,320,000. No finder's fees were paid in connection with the transaction. The transaction included participation from 29 placees including total pro group involvement for 370,000 flow-through common shares (three placees).
On December 15, 2021, The company has received acceptance for filing documentation from TSX Venture Exchange with respect to this transaction. Board Change • Sep 08
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Randy Kasum was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 14
Optimum Ventures Ltd., Annual General Meeting, Jan 20, 2021 Optimum Ventures Ltd., Annual General Meeting, Jan 20, 2021. 