The earlier nature of these project

The earlier nature of these projects is reflected in Sky Gold’s market capitalization of approximately $8.0 million. Still, the prospective nature has not escaped the attention of billionaire gold investor Eric Sprott. Sprott famously made a savvy investment in Kirkland Lake Gold (NYSE: KL)(TSX: KL) in 2017, buying 20 million shares at less than $20 per share, which grew to be worth over $1.0 billion within three years. He remains active in investing in young gold plays where he likes the potential, which now includes a stake in Sky Gold.In July, Sky Gold closed a non-brokered private placement in which a company beneficially owned by Sprott acquired 10.5 million shares and 5.25 million warrants to acquire more shares or SKYG. With the purchase, Sprott owns approximately 19.35% of the outstanding shares of Sky Gold on a non-diluted basis and 26.47% on a partially diluted basis assuming exercise of such warrants.The investment is a win-win for SKYG as not only providing capital to move the projects forward, but also lending a great deal of validation with respect to the potential of Mustang and Virginia.