Typically, an exploration company will hire an exploration geologist to run a greenfields program on prospective ground. This makes a lot of sense as exploration geologists serve what amounts to an apprenticeship learning how best to evaluate and de-risk a piece of ground. Stratabound Minerals (V.SB) went in another direction: their President and CEO, Kim Tyler has a wealth of experience as an “operating geologist”.
First Mining Gold (T.FF) has just released a Pre-Feasibility Study on its Springpole Lake project in Ontario. The headline numbers tell the story, Pre-Tax NPV5% of US$1.5 billion, Pre-Tax IRR of 36%, Average Annual Gold Production of 335,000 ounces and AISC of US$577/oz in Years 1 through 9. Proven and Probable Reserves of 3.8 Moz Au, 20.5 Moz silver (“Ag”). These are big, profitable, numbers and First Mining Gold is pressing ahead to permitting its Springpole Lake project.
When a junior exploration company sets out to explore an area it usually has a particular target but it can also find other prospective ground nearby. That’s what happened to Etruscus Resources (ETR.C) with its Rock and Roll project in BC’s Golden Triangle.
Quick question: which Canadian listed company is the largest producer of underground gold and silver in Colombia? The answer “Gran Colombia Gold” (GCM.T) is, to say the least, not well known to Canadian investors. This is a mid-tier, 200,000 ounces per year, monthly dividend paying company, which seems to be entirely off investors radar.
There are a lot of different ways for a company to make money in the junior mining space, for Peter Clausi, CEO of CBLT, it all comes down to acquiring prospective assets at good prices. So it was no surprise that CBLT announced February 8, 2021 that it was buying ground at Shatford Lake, located in the Winnipeg River-Cat Lake pegmatite field in eastern Manitoba near the Ontario border.
Things are moving quickly at Tocvan (TOC.C). On Friday February 19, it closed trading at an all time high of $0.72, up $0.10 on the day. The market is beginning to understand the potential of Tocvan’s Pilar property in Mexico.