Mining is up! But not for every miner: Hawkeye Gold and Diamond (HAWK.V) could use a payday loan

01/31/2020

You hate to see it, but such is life in the mining game; little Hawkeye Gold and Diamond (HAWK.V), which may be a misnomer because it doesn’t appear they have much gold or diamond at hand, announced today their latest drill results will be a little late.

There will be a delay in Hawkeye Gold & Diamond Inc. releasing assay results from its October, 2019, drill program until the end of February, possibly early March, 2020.

Why is that?

This delay is a result of the lab asking for payment in advance before releasing assay results to the company and due to bad market conditions resulting in Hawkeye not being able to close the second tranche of a $500,000 private placement totalling [sic] $281,000.

Oh dear.

Management is in discussions intending to arrange for short-term financing and/or a private placement and will keep shareholders and the investment community updated regarding this matter.

I bet they are.

I’ve got a fifty I can contribute. Anyone else? Dig around in the couch, see what you can find.

Management has a plan, however. To fix the problem caused when they couldn’t close their financing, they’re going to… have another financing?

Management is in discussions intending to arrange for short term financing and/or a private placement and will keep our shareholders and the investment community updated regarding this matter.

Hawkeye has a $1.4 million market cap.

Their last financing – the one they couldn’t complete – was at $0.05. Before that, they issued 3.5 million shares for debt at $0.05 per.

The stock is currently trading at $0.02.

— Chris Parry

 

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