| | KRO Favorites 2022 Center
Publisher: Kaiser Research Online
Author: Copyright 2022 John A. Kaiser
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| The KRO Favorites 2022 Center features the KRO companies designated as Favorites at the start of 2022 and added during 2022. All members were closed out as Favorites at the end of 2022 and assigned Spec Value ratings. Some were rolled over to the KRO 2023 Favorites Collection. To provide continuity the 2022 Center will remain open until the end of 2023 on an unrestricted basis, including the profiles and related reports. |
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| The current Favorites collection was chosen on December 31, 2021. The KRO Favorites 2022 Index started a balanced index where $1,000 worth of each stock was "bought". The Index reflects the average value of the KRO Favorites portfolio. New Favorites are added to the index on the same $1,000 basis. Companies that are closed out as Favorites are frozen in the index at the price at the time of the closeout. The chart below reflects the daily change of the KRO Favorites 2022 Index during the past 120 trading days. |
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Issued
132,459,318 |
Price
$0.53 |
Working Capital
$9,991,411 |
Story Type
Discovery Exploration |
Diluted
146,640,370 |
Insiders
17.1% |
As of
9/30/2023 |
Key People
Matti Talikka (CEO), David Lotan (Chair), Mark Serdan (CFO), |
| SV Rating: Bottom-Fish Spec Value - Favorite - as of October 27, 2023 |
| Jun 9, 2023 | KW Excerpt: Kaiser Watch June 9, 2023: Aurion Resources Ltd (AU-V) |
| Jun 9, 2023 | Kaiser Watch - 0:12:37 |
| Jun 8, 2023 | Tracker: Speculative Value Rating for Aurion Resources Ltd |
| Jan 6, 2023 | KW Excerpt: Kaiser Watch January 6, 2023: Aurion Resources Ltd (AU-V) |
| Jan 6, 2023 | Kaiser Watch - 0:45:05 |
| Sep 2, 2022 | Kaiser Watch - 0:25:33 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Aurion Resources Ltd (AU-V) |
| Jul 15, 2022 | Kaiser Watch - 0:20:00 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Aurion Resources Ltd (AU-V) |
| Apr 14, 2022 | Kaiser Watch - 0:25:24 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Jan 27, 2022 | Kaiser Watch - 0:17:39 |
| Jan 24, 2022 | Tracker: Spec Value Rating for Aurion Resources Ltd |
| Apr 8, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Apr 7, 2020 | Tracker: New Spec Value Rating for Aurion Resources Ltd |
| Jul 11, 2019 | Discovery Watch with HoweStreet.com - 0:13:56 |
| Jul 10, 2019 | Tracker: Spec Value Rating for Aurion Resources Ltd (AU-V) |
| Sep 25, 2018 | Discovery Watch with HoweStreet.com - 0:13:44 |
| Jan 26, 2018 | Discovery Watch with HoweStreet.com - 0:17:15 |
| Sep 30, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Aug 4, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Feb 10, 2017 | Discovery Watch with HoweStreet.com - 0:11:43 |
| Nov 13, 2023 | Aurion Regional Scout Drilling Intersects Four New Gold Occurrences On Wholly Owned Risti |
| Sep 12, 2023 | Identifies New Gold Zones at the Kaaresselka Prospect, On the Wholly Owned Risti Property |
| Sep 11, 2023 | Completion of Repurchase of Royalties on Major Properties |
| Aug 23, 2023 | Aurion Signs Definitive Option Agreement with Kinross on the Launi East Property |
| Aug 21, 2023 | Aurion B2Gold JV Discovers New Zone of Gold Mineralization South of Helmi |
| Aug 16, 2023 | Gives Notice of Exercise of Option to Repurchase Royalties on Major Properties |
| Aug 8, 2023 | Engages Investor Relations Consultant |
| Jul 31, 2023 | B2Gold's Agreement to Contribute to NSR Royalty Buyback |
| Jul 13, 2023 | Property Asset or Share Purchase Amending Agreement |
| Jul 10, 2023 | Amends and Closes Option Agreement to Repurchase Royalties |
Issued
183,617,123 |
Price
$0.42 |
Working Capital
$3,699,408 |
Story Type
Discovery Exploration |
Diluted
198,824,346 |
Insiders
13.8% |
As of
8/31/2023 |
Key People
Hugh (Mac) Balkam (CEO), Carmelo Marrelli (CFO), John DeDecker (VP EX), M. Robert Myhill (VP FI), William R. Johnstone (Sec), |
| SV Rating: Bottom-Fish Spec Value - as of December 30, 2022 |
| Jul 28, 2023 | KW Excerpt: Kaiser Watch July 28, 2023: Eskay Mining Corp (ESK-V) |
| Jul 28, 2023 | Kaiser Watch - 0:17:21 |
| Jan 19, 2023 | KW Excerpt: Kaiser Watch January 19, 2023: Eskay Mining Corp (ESK-V) |
| Jan 19, 2023 | Kaiser Watch - 0:00:00 |
| Nov 3, 2022 | KW Excerpt: Kaiser Watch November 3, 2022: Eskay Mining Corp (ESK-V) |
| Nov 3, 2022 | Kaiser Watch - 0:21:15 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Eskay Mining Corp (ESK-V) |
| Sep 2, 2022 | Kaiser Watch - 0:25:33 |
| Jul 28, 2022 | KW Excerpt: Kaiser Watch July 28, 2022: Eskay Mining Corp (ESK-V) |
| Jul 28, 2022 | Kaiser Watch - 0:00:00 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Eskay Mining Corp (ESK-V) |
| Jul 15, 2022 | Kaiser Watch - 0:20:00 |
| Jul 7, 2022 | KW Excerpt: Kaiser Watch July 7, 2022: Eskay Mining Corp (ESK-V) |
| Jul 7, 2022 | Kaiser Watch - 0:13:33 |
| Jun 2, 2022 | KW Excerpt: Kaiser Watch June 2, 2022: Eskay Mining Corp (ESK-V) |
| Jun 2, 2022 | Kaiser Watch - 0:14:43 |
| Apr 14, 2022 | Kaiser Watch - 0:28:20 |
| Mar 24, 2022 | Kaiser Watch - 0:22:38 |
| Mar 17, 2022 | Kaiser Watch - 0:20:33 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Jan 27, 2022 | Kaiser Watch - 0:27:13 |
| Oct 14, 2021 | Discovery Watch with HoweStreet.com - 0:16:42 |
| Oct 7, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Aug 4, 2021 | Discovery Watch with HoweStreet.com - 0:12:51 |
| Jul 7, 2021 | Discovery Watch with HoweStreet.com - 0:13:34 |
| Jun 23, 2021 | Discovery Watch with HoweStreet.com - 0:09:22 |
| Apr 14, 2021 | Discovery Watch with HoweStreet.com - 0:18:20 |
| Mar 25, 2021 | Discovery Watch with HoweStreet.com - 0:11:35 |
| Feb 3, 2021 | Discovery Watch with HoweStreet.com - 0:24:49 |
| Dec 23, 2020 | Discovery Watch with HoweStreet.com - 0:16:29 |
| Dec 10, 2020 | Discovery Watch with HoweStreet.com - 0:10:21 |
| Oct 22, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Sep 22, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Sep 18, 2020 | Tracker: What's Next for Eskay Creek Mining Corp? |
| Jul 2, 2020 | Discovery Watch with HoweStreet.com - 0:13:54 |
| Jun 29, 2020 | Tracker: Spec Value Rating for Eskay Mining Corp |
| Nov 13, 2019 | Discovery Watch with HoweStreet.com - 0:11:40 |
| Nov 20, 2018 | Discovery Watch with HoweStreet.com - 0:09:15 |
| Jul 30, 2018 | Discovery Watch with HoweStreet.com - 0:12:20 |
| Jul 30, 2018 | Bottom-Fish Comment: SSR delivers an anomaly surprise at Eskay Mining Corp's SIB project |
| Jul 23, 2018 | Discovery Watch with HoweStreet.com - 0:20:28 |
| May 17, 2018 | Discovery Watch with HoweStreet.com - 0:18:16 |
| May 15, 2018 | Bottom-Fish Comment: Recommendation Strategy for Eskay Mining Corp |
| Aug 1, 2017 | Discovery Watch with HoweStreet.com - 0:13:45 |
| Jul 10, 2017 | Discovery Watch with HoweStreet.com - 0:10:41 |
| Apr 12, 2017 | Bottom-Fish Comment: Recommendation Strategy for Eskay Mining Corp |
| Dec 1, 1997 | Report Sept-Dec 1997: Kenrich Mining Corp - 1997 Annual Review |
| Oct 13, 1997 | Tracker 1997-40: Kenrich heads into post-season slump |
| Aug 18, 1997 | Tracker 1997-21: Kenrich - Sorting out the deal with Prime Resources Group |
| Dec 23, 1996 | Report Nov-Dec 1996: Kenrich Mining Corp - 1997 Bottom-Fish 100 |
| Nov 2, 2023 | Confirms New Precious Metal Rich VMS Discoveries at its 12.53 |
| Oct 4, 2023 | on Annual Meeting |
| Aug 31, 2023 | Drills VMS Mineralization at Four New Targets at Its Consolidated Eskay Project, Golden Triangle, BC |
| Jul 27, 2023 | Identifies New Targets and Commences Drilling at Its Consolidated Eskay Project, Golden Triangle, BC |
| Jul 10, 2023 | Sells 5 Mining Claims to Skeena Resources |
| Jun 7, 2023 | Eskay Mining and Seabridge Gold Terminate Amended Cost Sharing Agreement to Finance Coulter Creek Access Road |
| May 18, 2023 | 2023 Exploration Program Focuses on Discovering "Eskay Creek V2.0" at its Consolidated Eskay Project, Golden Triangle, BC |
| Mar 20, 2023 | Grant of Stock Options |
| Mar 16, 2023 | Shares New Geophysical Interpretation of Data at Essay Project |
| Mar 13, 2023 | Presents New Geophysical Interpretation of its Data and Welcomes Riaz Mirza as Geophysical Advisor in its Quest to Discover Precious Metal Rich VMS Deposits Across its Consolidated Eskay |
Issued
273,881,246 |
Price
$0.32 |
Working Capital
$31,462,685 |
Story Type
Feasibility Demonstration |
Diluted
292,626,246 |
Insiders
34.6% |
As of
9/30/2023 |
Key People
Martin Turenne (CEO), Peter M. D. Bradshaw (Chair), Felicia de la Paz (CFO), Tim Bekhuys (VPESG), |
| SV Rating: Bottom-Fish Spec Value - Favorite - as of October 27, 2023 |
| Oct 6, 2023 | KW Excerpt: Kaiser Watch October 6, 2023: FPX Nickel Corp (FPX-V) |
| Oct 6, 2023 | Kaiser Watch - 0:00:00 |
| Sep 29, 2023 | KW Excerpt: Kaiser Watch September 29, 2023: FPX Nickel Corp (FPX-V) |
| Sep 29, 2023 | Kaiser Watch - 0:00:00 |
| Sep 8, 2023 | KW Excerpt: Kaiser Watch September 8, 2023: FPX Nickel Corp (FPX-V) |
| Sep 8, 2023 | Kaiser Watch - 0:00:00 |
| Aug 11, 2023 | KW Excerpt: Kaiser Watch August 11, 2023: FPX Nickel Corp (FPX-V) |
| Aug 11, 2023 | Kaiser Watch - 0:00:00 |
| Jul 21, 2023 | KW Excerpt: Kaiser Watch July 21, 2023: FPX Nickel Corp (FPX-V) |
| Jul 21, 2023 | Kaiser Watch - 0:12:21 |
| Jun 2, 2023 | KW Excerpt: Kaiser Watch June 2, 2023: FPX Nickel Corp (FPX-V) |
| Jun 2, 2023 | Kaiser Watch - 0:15:45 |
| May 24, 2023 | Kaiser Watch - 0:12:45 |
| May 24, 2023 | KW Excerpt: Kaiser Watch May 24, 2023: FPX Nickel Corp (FPX-V) |
| May 5, 2023 | Kaiser Watch - 0:19:03 |
| May 5, 2023 | KW Excerpt: Kaiser Watch May 5, 2023: FPX Nickel Corp (FPX-V) |
| Apr 28, 2023 | Kaiser Watch - 0:17:26 |
| Apr 28, 2023 | KW Excerpt: Kaiser Watch April 28, 2023: FPX Nickel Corp (FPX-V) |
| Apr 6, 2023 | Kaiser Watch - 0:19:34 |
| Apr 6, 2023 | KW Excerpt: Kaiser Watch April 6, 2023: FPX Nickel Corp (FPX-V) |
| Jan 26, 2023 | Kaiser Watch - 0:23:35 |
| Jan 26, 2023 | KW Excerpt: Kaiser Watch January 26, 2023: FPX Nickel Corp (FPX-V) |
| Dec 2, 2022 | KW Excerpt: Kaiser Watch December 2, 2022: FPX Nickel Corp (FPX-V) |
| Dec 2, 2022 | Kaiser Watch - 0:00:00 |
| Oct 28, 2022 | KW Excerpt: Kaiser Watch October 28, 2022: FPX Nickel Corp (FPX-V) |
| Oct 28, 2022 | Kaiser Watch - 0:13:26 |
| Sep 16, 2022 | Kaiser Watch - 0:24:52 |
| Sep 16, 2022 | KW Excerpt: Kaiser Watch September 16, 2022: FPX Nickel Corp (FPX-V) |
| Sep 2, 2022 | Kaiser Watch - 0:10:37 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: FPX Nickel Corp (FPX-V) |
| Aug 5, 2022 | Kaiser Watch - 0:08:04 |
| Aug 5, 2022 | KW Excerpt: Kaiser Watch August 5, 2022: FPX Nickel Corp (FPX-V) |
| Jul 28, 2022 | Tracker: FPX Nickel met study confirms DTR assay method and firms up flotation recovery assumption |
| Jul 15, 2022 | Kaiser Watch - 0:24:25 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: FPX Nickel Corp (FPX-V) |
| May 26, 2022 | KW Excerpt: Kaiser Watch May 26, 2022: FPX Nickel Corp (FPX-V) |
| May 26, 2022 | Kaiser Watch - 0:07:50 |
| Mar 31, 2022 | Kaiser Watch - 0:00:00 |
| Mar 17, 2022 | Kaiser Watch - 0:13:52 |
| Jan 18, 2022 | Tracker: Spec Value rating for FPX Nickel Corp |
| Oct 21, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Jul 28, 2021 | Discovery Watch with HoweStreet.com - 0:10:30 |
| Jun 9, 2021 | Discovery Watch with HoweStreet.com - 0:12:19 |
| Apr 8, 2021 | Discovery Watch with HoweStreet.com - 0:24:30 |
| Mar 25, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Nov 19, 2020 | Discovery Watch with HoweStreet.com - 0:10:19 |
| Oct 15, 2020 | Discovery Watch with HoweStreet.com - 0:09:50 |
| Sep 10, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Aug 20, 2020 | Discovery Watch with HoweStreet.com - 0:15:17 |
| Jul 22, 2020 | Discovery Watch with HoweStreet.com - 0:18:43 |
| May 14, 2020 | Discovery Watch with HoweStreet.com - 0:15:15 |
| Feb 27, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Jan 9, 2020 | Discovery Watch with HoweStreet.com - 0:13:59 |
| Dec 19, 2019 | Discovery Watch with HoweStreet.com - 0:19:28 |
| Aug 23, 2019 | Discovery Watch with HoweStreet.com - 0:17:20 |
| May 7, 2018 | Discovery Watch with HoweStreet.com - 0:12:24 |
| Mar 2, 2018 | Discovery Watch with HoweStreet.com - 0:07:10 |
| May 19, 2017 | Discovery Watch with HoweStreet.com - 0:26:52 |
| Feb 3, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Nov 9, 2016 | Discovery Watch with HoweStreet.com - 0:08:51 |
| Nov 20, 2023 | Subsidiary CO2 Lock Corp. Named to Foresight 50 List of Canada's Most Investible Cleantech Ventures |
| Oct 19, 2023 | Files Preliminary Feasibility Study for Baptiste Nickel Project |
| Oct 10, 2023 | Appointment of Chief Financial Officer and Corporate Secretary Felicia de la Paz, Former Corporate Controller, Equinox Gold |
| Sep 28, 2023 | CO2 Lock Corp. Closes $1.1 Million Financing and Provides Technical Update on Standalone Carbon Capture and Storage Project in British Columbia |
| Sep 22, 2023 | Battery Supply Chain MOU with JOGMEC and Prime Planet Energy & Solutions |
| Sep 6, 2023 | Delivers PFS for Baptiste Nickel Project with After Tax NPV of US$2.01 Billion and 18.6% IRR |
| Aug 31, 2023 | To Host Investor Webinar and Release Preliminary Feasibility Study on Baptiste Nickel Project |
| Aug 28, 2023 | Appointment of Senior Vice President, Sustainability & External Relations Tim Bekhuys, Former Vice President, Environment & Sustainability at SSR Mining |
| Aug 9, 2023 | Update on Engagement with Tl'azt'en Nation |
| Jul 21, 2023 | CFO Transition and Succession Plan |
Issued
73,848,842 |
Price
$0.33 |
Working Capital
$4,682,695 |
Story Type
Feasibility Demonstration |
Diluted
79,451,394 |
Insiders
9.6% |
As of
6/30/2023 |
Key People
Robert Hinchcliffe (CEO), Robert D. B. Suttie (CFO), |
| SV Rating: Bottom-Fish Spec Value - as of November 30, 2023: Galway Metals Inc is a Fair Spec Value rated Favorite as of December 31, 2021 based on its efforts since 2016 to demonstrate the multi-million ounce district scale gold potential of the 100% owned Clarence Stream project in New Brunswick, and to show that the Estrades polymetallic VMS system in Quebec has significant resource expansion potential at depth and that the 31 km long property can yield an entirely new VMS discovery at the Newiska target about 10 km to the east. Tracker Feb 18, 2020 describes Galway's origin as a spinout from CEO Robert Hinchcliffe's Galway Resources Ltd which was bought out in 2012 for its property near Ventana's La Bodega gold discovery in Colombia and provides background for the Clarence Stream project. Tracker Aug 23, 2021 provides an overview of Galway's recent objectives for the Clarence Stream and Estrades projects. The 60,000 ha Clarence Stream project straddles 65 km of the Appalachian Gold Trend which stretches from the Carolinas through Newfoundland and Ireland into Scandinavia. The key structural feature at Clarence Stream is the east-west oriented Sawyer Brook Fault which cuts through Ordovician and Silurian metasediments that have been intruded by various stocks that served as the heat engines for creating quartz vein hosted stockwork and disseminated gold mineralization of the intrusion related gold system style. Since 2016 Galway has drilled about 130,000 m on top of the 60,000 m drilled by previous owners, most of it focused on the cluster of new zones discovered in late 2017 about 7 km southwest of the existing North and South zones for which 9,586,000 tonnes of 2.17 g/t gold OP and UG mineable (667,000 oz) was estimated in 2017 (M+I+I). Galway established a data cutoff at the end of 2021 for the purpose of delivering an initial resource estimate for the Adrian-GMZ-Richard-Jubilee zones in Q1 of 2022. An updated resource will also be calculated for the North-South Zones. This will be an important milestone which the market hopes will tally in the 1.5-2.0 million ounce range, though given the 8-12 week turnaround time for assays one should be happy with 1.0-1.5 million ounces and wait for more in a future update. Galway plans to drill 75,000 m in 2022 split between further expansion and infill drilling of the Adrian etc zones and wildcat drilling on the various soil and till gold anomalies established through property wide sampling during the past few years as part of Galway's goal to show Clarence Stream has 10 million plus ounce district scale gold potential. The Oak Bay-Tower Hill targets will receive attention, as well as the 3 km by 7 km soil anomaly that sits on top of a gabbroic intrusive complex to the south of the Adrian-Jubilee zone cluster. Galway will also earmark 25,000 m drilling for its Estrades VMS project where Titan geophysical surveys that can see 2,000 m deep suggest down-plunge potential beneath the existing Estrades resource (2018 I+I 3,696,000 tonnes 5.7% Zn, 1.03% Cu, 0.42% Pb, 93 g/t Ag, 2.59 g/t Au) as well as a potential major new VMS system at the Newiska target within a parallel rhyolite unit about 10 km to the southeast. Galway's 2021 effort to test Newiska, which can only be drilled in winter, failed to reach target depth before a warm winter shut down drilling. Galway will drill Newiska in Q1 of 2022 and test the main Estrades target later due to year round access. The IRGS nature of the Clarence Stream project is unlikely to deliver a discovery hole that moves the market unless it is for a brand new zone, but the VMS nature of the Estrades and Newiska targets could yield intersections with big discovery implications, especially in the case of Newiska which sits in the middle of a 31 km land package straddling the Casa Berard-Douay trend which has potential for both polymetallic and gold deposits. At the end of 2021 Galway Metals Inc had about $12 million working capital left, insufficient to fund its 2022 drilling plan, so additional financing will be needed by mid 2022. Galway had 178.7 million issued and 197.0 million fully diluted with no worrisome warrant overhang at the end of 2021. Insiders, including the chief geologist Mike Sutton who is key to sorting out the Clarence Stream zones, own just under 14% of the issued stock. In terms of management Galway is a well-rounded junior that knows how to promote, fund and execute its story. (Jan 18, 2022) |
| Sep 23, 2022 | Kaiser Watch - 0:06:56 |
| Sep 23, 2022 | KW Excerpt: Kaiser Watch September 23, 2022: Galway Metals Inc (GWM-V) |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Galway Metals Inc (GWM-V) |
| Sep 2, 2022 | Kaiser Watch - 0:21:39 |
| Jul 15, 2022 | Kaiser Watch - 0:15:49 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Galway Metals Inc (GWM-V) |
| Jun 2, 2022 | Kaiser Watch - 0:19:24 |
| Jun 2, 2022 | KW Excerpt: Kaiser Watch June 2, 2022: Galway Metals Inc (GWM-V) |
| Apr 28, 2022 | Kaiser Watch - 0:28:11 |
| Apr 14, 2022 | Kaiser Watch - 0:29:27 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Jan 27, 2022 | Kaiser Watch - 0:35:37 |
| Jan 19, 2022 | Tracker: What's Next for Galway Metals Inc? |
| Jan 18, 2022 | Tracker: Spec Value Rating for Galway Metals Inc |
| Aug 25, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Aug 23, 2021 | Tracker: What's Next for Galway Metals Inc |
| Jul 29, 2020 | Discovery Watch with HoweStreet.com - 0:09:21 |
| Jul 2, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Apr 30, 2020 | Discovery Watch with HoweStreet.com - 0:14:40 |
| Feb 25, 2020 | Tracker: Galway delivers new evidence that grades get better at depth for Clarence Stream |
| Feb 20, 2020 | Discovery Watch with HoweStreet.com - 0:22:24 |
| Feb 17, 2020 | Tracker: Spec Value Rating for Galway Metals Inc (GWM-V) |
| Oct 3, 2023 | Extends SW Deposit East by 191 Metres Outside of Resource with 19.1 g/t Gold over 1.05 Metres and with 0.5 g/t Gold over 17.0 Metres |
| Aug 15, 2023 | Looks for Next Discovery at Clarence Corporate Update |
| Aug 1, 2023 | Intersects 8.0 g/t Au over 9.5m in Triangle Area; Triangle Expands in Multiple Directions at Clarence Stream |
| Jul 20, 2023 | Intersects 8.4g/t Au over 5.7m, and 1.7 g/t Au over 13.6m Plus 19.0 Au over 3.0m at the South Deposit at Clarence Stream; Drilling at SW Deposit |
| Jul 19, 2023 | Shares for Debt |
| Jul 17, 2023 | Option Payment for Royalty Buy Back at Its Clarence Stream Property |
| May 8, 2023 | Private Placement Brokered |
| Apr 27, 2023 | Closing of $4 Million Brokered Private Placement |
| Apr 18, 2023 | Personnel and Company Update |
| Apr 6, 2023 | $4 Million Best Efforts Private Placement Financing |
Issued
189,759,253 |
Price
$0.12 |
Working Capital
$2,321,963 |
Story Type
Feasibility Demonstration |
Diluted
217,977,164 |
Insiders
0.0% |
As of
6/30/2023 |
Key People
Lauren McDougall (CFO), Tyler Caswell (VP EX), Pamela White (Sec), |
| SV Rating: Bottom-Fish Spec Value - as of December 30, 2022: Northwest Copper Corp is the combination of two former KRO Favorites, Serengeti Resources Inc and Sun Metals Corp, which merged on March 5, 2021 on terms where Serengeti undertook a 2:1 rollback and Sun Metals merged with the resulting company on a 0.215 NWST share for 1 Sun Metals share. Sun Metals was a Bottom-Fish Spec Value rated 2020 Favorite at $0.23 but it was downgraded to Poor Spec Value on Oct 2, 2020 when it became apparent that the Stardust project was not delivering anything new. Serengeti, in contrast, which was started as a Bottom-Fish Spec Value rated 2020 Favorite at $0.185 was upgraded on October 8, 2020 to a Fair Spec Value rated Favorite at $0.355 based on news that the East Niv copper-gold prospect had turned into a compelling porphyry target that would be drilled for the first time in 2021 (see Tracker October 8, 2020). The merger deal was announced on November 30, 2020. Serengeti was continued as a Fair Spec Value rated 2021 Favorite at $0.39 on December 31, 2020 which adjusted to a $0.78 cost base when Serengeti and Sun Metals merged. The merger created synergies in several areas which effective May 17, 2021 justify upgrading Northwest Copper Corp to a Good Spec Value rated 2021 Favorite at $0.80. The first issue was that neither Sun Metals' Stardust nor Serengeti's Kwanika projects in central British Columbia had sufficient critical mass to be developed as standalone mines, Stardust as an underground only high grade copper-gold-silver CRD style mine, and Kwanika as a combination open-pit/underground mine most of whose output would be underground mined. Stardust, which started off with the Canyon Creek resource of 2,970,000 tonnes at 1.27% copper, 1.68 g/t gold and 32.6 g/t silver, spurred excitement in 2018 with the late season discovery of the higher grade 421 Zone. Drilling over the next 2 years connected the 421 Zone to the shallower Canyon Creek zone and revealed that the 421 Zone tapered to a vertical depth of 900 m. Whatever additional zones exist, they will be deep and expensive to find. On May 17, 2021 Northwest Copper published an updated resource estimate which more than doubled the indicated and inferred resource to 7,806,100 tonnes at 0.97% copper, 1.24 g/t gold, and 21.8 g/t silver. The Central Zone at Kwanika has an open-pittable M+I+I resource of 110.3 million tonnes at 0.23% copper, 0.21 g/t gold and 0.77 g/t silver, and an underground mineable M+I+I resource of 203.6 million tonnes of 0.25% copper, 0.31 g/t gold and 0.92 g/t silver. Serengeti had published an updated PEA for a 15,000 tpd scenario in April 2017 that it planned to upgrade to a PFS by Q4 of 2019 with the help of an $8.2 million investment by South Korea's Daewoo (controlled by Posco) to earn 35%. However, the PFS was never delivered and Daewoo, which had vested for 35%, declined to participate in a 2020 expansion drill program. Daewoo was interested in Kwanika becoming the central processing hub for a number of smaller copper mines in the region, but is no longer interested. It is now looking for an exit for its diluting 33% Kwanika stake. The merger allows the Kwanika and Stardust properties to be consolidated into a single project, subject to buying out Daewoo, possibly through a paper deal later this year when NWST is trading at a better price. The two deposits are only 7 km apart. Although Stardust is CRD hosted massive sulphide mineralization while Kwanika's Central zone is disseminated porphyry style mineralization, initial metallurgical studies indicate similar flow-sheets with neither feedstock containing any deleterious elements. The new plan is to redo the 2017 Kwanika PEA as a 15,000 tpd processing facility fed with higher grade underground mined ore trucked from Stardust and blended with ore initially from the open-pitabble portion of the Central zone and ultimately with block-caved ore from the underground portion. NWST is starting a 7,200 m infill drill program costing $4.2 million to upgrade the shallower high grade underground portion of the Central Zone. The program will also test some satellite targets to the south of the Central Zone that Serengeti did not test in 2020. It will also do metallurgical studies to define a flow-sheet for the blended ore feeds. CEO Peter Bell expects it will cost $2 million to deliver a PEA by early 2022. The other main issue has to do with people. The driving force behind Sun Metals was Mark O'Dea, but he lost control of the narrative to Steve Robertson and Don McInnes who adopted a disclosure strategy of reporting only what happened 6 weeks ago and not outlining what was coming up. This alienated the Sun Metals shareholders who learned to sell before any news was due. Robertson and McInnes are not part of the NWST team. David Moore was the driving force behind Serengeti, but while he was excellent at telling the exploration story and executing technical work, he was a toiling geologist who had little stroke with the institutional audience needed to fund a feasibility demonstration project like Kwanika. Serengeti always just barely had enough money to fund its programs and not much success at getting positive market upticks to stick. As part of the merger deal O'Dea secured a $10.35 million bought deal for Sun Metals, and once the 2 companies were merged, he raised another $13 million in March 2021, bringing current working capital to about $21 million with 124.9 million issued and 146.4 million fully diluted. David Moore retired as CEO while remaining on the board, and Peter Bell, a geologist who worked 12 years for Newmont dealing with advanced projects, was brought in as the new CEO. Northwest Copper now has a well rounded management team that covers all aspects to operate a hybrid company engaged in feasibility demonstration for the Kwanika-Stardust project and discovery exploration at projects like East Niv which Dave Moore brought to the drill ready stage in 2020. While Kwanika-Stardust provides the fundamental value which allows Northwest Copper to serve as a proxy for the price of copper and gold, the blue sky resides with the 27,700 hectare East Niv play located about 30-40 km southwest of the Kemess Mine. East Niv, which is a grassroots play that has never been drilled, has a footprint similar to the Red Chris deposit and potential for high grade copper and gold porphyry mineralization. NWST will begin a 2,700 m drill program with a $2.9 million budget that could be dramatically expanded if early drilling yields discovery grades. Drilling can be done until the end of October. Although assay turnaround will likely be terrible, this style of deposit and associated mineralization provides good visual evidence that a discovery has been made. While continuing strength in gold and copper prices should pull NWST into the $1.50-$2.00, lift off related to hints of a discovery at East Niv could start in August. Sun Metals acquired a 49% interest in the Lorraine copper-gold project which sits between Kwanika-Stardust and East Niv when it acquired Lorraine Copper Corp in early 2018 to lock down its Stardust ownership. In late October 2020 Sun Metals secured a deal to acquire Teck's 51% for $1.5 million in cash or stock over 2 years and $7.5 million linked to milestones consisting of PEA, FS and a construction decision. The Lorraine property adjoins the Top Cat project Serengeti had under option and this will now be treated as a single 65,000 ha project. When Teck optioned Lorraine decades ago its exploration strategy was to look for large porphyry systems but the result, 35.2 million tonnes of 0.45-0.61% copper and 0.19-0.23 g/t gold (no longer 43-101 compliant after the ownership changes), was small. The property is prospective for high K calc-alkaline systems similar to Red Chris and Mt Polley which tend to have much smaller lateral than vertical footprints with copper-gold grades often increasing at depth. Lorraine-Top Cat needs to be revisited with a different exploration strategy, but for 2021 NWST is only allocating $800,000 for a re-compilation of existing data to set the stage for exploration in 2022. As far as the other projects in Northwest Copper's portfolio are concerned, the junior plans to get rid of those which do not have obvious size potential or have a sensitive location such as the OK deposit near Tofino. Overall NWST plans to spend $10-$13 million in 2021. Assuming gold and copper hold their current price levels, NWST should trend into the $1.50-$2.00 range as the Kwanika-Stardust PEA approaches in Q1 of 2022 and the market gets a better sense of what the combined mining operation will look like. East Niv has the potential to become a major new copper-gold discovery supporting a $1-$2 price on its own. The combination of these two distinct value creation tracks justifies a Good Spec Value rating at $0.80 which is currently implying a value of only $117 million for the company. (May 17, 2021) |
| Sep 2, 2022 | Kaiser Watch - 0:16:33 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Northwest Copper Corp (NWST-V) |
| Jul 15, 2022 | Kaiser Watch - 0:30:37 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Northwest Copper Corp (NWST-V) |
| Apr 14, 2022 | Kaiser Watch - 0:30:36 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Feb 10, 2022 | Kaiser Watch - 0:16:24 |
| Oct 28, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| May 19, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| May 18, 2021 | Tracker: What's Next for Northwest Copper Corp? |
| May 17, 2021 | Tracker: Spec Value Rating Overview for Northwest Copper Corp |
| Mar 31, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Dec 3, 2020 | Discovery Watch with HoweStreet.com - 0:27:10 |
| Oct 8, 2020 | Tracker: New Spec Value Rating for Serengeti Resources Inc |
| Oct 8, 2020 | Discovery Watch with HoweStreet.com - 0:14:35 |
| Sep 4, 2020 | Discovery Watch with HoweStreet.com - 0:08:15 |
| Sep 3, 2020 | Tracker: What's Next for Serengeti Resources Inc? |
| Jan 28, 2019 | Tracker: Spec Value Rating for Serengeti Resources Inc (SIR-V) |
| Jan 24, 2019 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Nov 14, 2018 | Discovery Watch with HoweStreet.com - 0:09:04 |
| Oct 26, 2018 | SVH Tracker: Putting Serengeti's Kwanika drill results into context |
| Oct 23, 2018 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Jan 19, 2018 | Discovery Watch with HoweStreet.com - 0:22:45 |
| Jan 15, 2018 | Discovery Watch with HoweStreet.com - 0:11:33 |
| Oct 6, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Oct 5, 2017 | SVH Tracker: Recommendation Strategy for Serengeti Resources Inc |
| Aug 1, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Apr 7, 2017 | Discovery Watch with HoweStreet.com - 0:05:10 |
| Nov 18, 2016 | Discovery Watch with HoweStreet.com - 0:12:58 |
| Oct 27, 2016 | Discovery Watch with HoweStreet.com - 0:03:42 |
| Oct 20, 2016 | SVH Tracker: Serengeti's UDS delivers Plan B exploration play for 2017 |
| Sep 22, 2016 | SVH Tracker: Serengeti's Kwanika IP target intact and more prospective |
| Sep 22, 2016 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Sep 15, 2016 | Discovery Watch with HoweStreet.com - 0:15:48 |
| Aug 10, 2016 | SVH Tracker: Recommendation Strategy for Serengeti Resources Inc |
| Mar 31, 2008 | Tracker 2008-16: Spectacular Kwanika hole supports new theory but does not signal a sweet spot starter pit |
| Mar 26, 2008 | Tracker 2008-15: Is "too small" the inevitable outcome for Kwanika? |
| Jan 26, 2007 | Excerpt: Bottom-Fish Action Report - A lurching stairway to hell or a modulated stairway to heaven? |
| Nov 30, 2023 | BULLETIN V2023 0121; Rights Offering Shares |
| Nov 30, 2023 | Release of Annual ESG Report |
| Nov 27, 2023 | Launch of Rights Offering and Concurrent Private Placement |
| Nov 21, 2023 | Board Plans to Proceed by Equity Financing in Order That All Shareholders May Determine the Future of the Company |
| Nov 16, 2023 | Business Update on Financial, Geological And ESG Programs |
| Nov 7, 2023 | Provides Update on Exploration Plans |
| Oct 11, 2023 | NorthWest Completes Property Sale |
| Sep 29, 2023 | Executive Changes |
| Sep 27, 2023 | Provides Update on Board Transition |
| Sep 26, 2023 | Results of AGM |
Issued
106,071,913 |
Price
$0.13 |
Working Capital
$782,201 |
Story Type
Feasibility Demonstration |
Diluted
149,915,521 |
Insiders
37.8% |
As of
6/30/2023 |
Key People
Joseph J. Ovsenek (CEO), Grant Bond (CFO), Tom S.Q. Yip (CFO), Kenneth C. McNaughton (VP EX), |
| SV Rating: Bottom-Fish Spec Value - as of December 30, 2022: P2 Gold Inc was made a Bottom-Fish Spec Value rated 2021 Favorite at $0.40 on December 31, 2020 based on its new role as the post-Pretium exploration vehicle for Joe Ovsenek and Ken MacNaughton, the former CEO and Exploration VP for Pretium and its high grade Brucejack gold project in the Golden Triangle. On February 23, 2021 P2 Gold expanded the focus with the acquisition of an all-season advanced project in Nevada's Walker Lane called Gabbs which hosts several copper-gold porphry style deposits. This is an expensive acquisition whose closing is contingent on P2 Gold completing a $16 million private placement consisting of 32 million shares at $0.50. Gabbs will become the new flagship project for P2 Gold which in the worst case will function as a copper-gold optionality story with the existing resource, but will initially be the focus of a major system rethink by the Ovsenek/MacNaughton team which will assess the deeper potential of what they believe is a gold dominated alkaline porphyry system different from the copper porphyries at Yerington. The Golden Triangle projects optioned during the summer of 2020 have heavy vesting obligations that kick in after the second year, so these will be subjected to make or break exploration programs over the next year. P2 Gold remains Bottom-Fish Spec Value rated while we wait for the $16 million financing to close, of which USD $5 million will go to close the Gabbs acquisition, and the rest will fund 2021 exploration programs. Along with several associates Joe Ovsenek and Ken MacNaughton purchased founder stakes through a 10 million share private placement at $0.10 (no warrants) in April 2020 following a 6:1 rollback of Central Timmins Exploration Corp, a mediocre junior which went public by IPO through PI Financial on Oct 16, 2018 with a group of claims on the fringes of the mining town Timmins on the Ontario side the Abitibi Greenstone Belt. They shifted the focus to northern British Columbia, first with a 70% option on the Silver Reef project north of Hazelton where the target is a silver-zinc-lead carbonate replacement system similar to the Silver Standard deposit near Hazelton. Then in early July 2020 P2 Gold optioned up to 70% of the Todd Creek and the BAM properties in the Golden Triangle from separate vendors. And for good measure they brought Silver Standard's mine finders Bud Hillemeyer and Perry Durning back into the fold by leasing on fairly easy terms their Lost Cabin and Stockade epithermal prospects in southeastern Oregon. P2 Gold can acquire 100% of Gabbs from the Waterton private equity group for USD $5 million and 15 million shares, with another $5 million due by the earlier of a PEA completion or 2 years. The 2,800 hectare Gabbs property adjoins to the north of the former Paradise Peak Mine operated as an open pit by FMC Gold from 1986-1994 which yielded 1.6 million oz gold and 24.1 million oz silver from a high sulphidation epithermal system aged at 22 million years. FMC sold Paradise Peak to Arimetco in 1995 which also owned the Gabbs property that FMC had explored in 1991-92. Arimetco went bankrupt in 1997, Paradise Peak became an abandoned reclamation site, and the Gabbs claims lapsed until Newcrest staked them in 2002 and explored Gabbs until 2008 when it withdrew from North America. Gabbs was acquired in 2011 by St Vincent Minerals Inc whose IPO plans never materialized and was acquired by Colin Bird's AIM listed ich Galileo Resources Plc in 2014 for CAD $4.3 million. Galileo sold Gabbs to Waterton in August 2016 for USD $2.5 million, so this deal with P2 Gold is shaping up as a big score for Waterton. The Gabbs property hosts three spatially distinct porphyry style deposits called Sullivan, Lucky Strike and Gold Ledge for which 43-101 open-pittable inferred resources have been estimated at 26.2 million tonnes of 0.72 g/t gold and 0.248% copper for oxides and 46.9 million tonnes at 0.43 g/t gold and 0.27% copper for sulphides. Most of the resource is split 54% Sullivan and 46% Lucky Strike which are about 3.5 km apart. The Gold Ledge zone, which sits in between, has a resource of only 100,000 tonnes, but sits above a significant IP chargeability high modeled at a depth of 450 m that has not been tested. The copper-gold mineralization is Cretaceous aged, younger than the middle Jurassic age of the Yerington cluster of substantially larger porphyry deposits 100 km to the west. The Yerington porphyries are of the calc-alkaline type that have low gold values, whereas the porphyries at Gabbs appear to be the high K calc-alkaline variety which have higher gold values. The Sullivan and Lucky Strike zones occur as sill-like monzonite intrusives within a gabbroic complex that has not been age dated. The depositional origin of these "sills" is not understood, and it is speculated that they may have linkage to an intrusive center beneath Gold Ledge. The Car Body zone to the south for which 2.8 million tonnes of 1.39 g/t gold has been estimated appears to be an unrelated, much younger low sulphidation epithermal system. The Gabbs property has had 494 holes drilled between 1970-2011, though 320 of these holes fail the QA/QC criteria needed for 43-101 resource reporting. The average depth of past drill holes was 94 metres. P2 Gold has proposed a CAD $6 million program for 2021 that will include additional geophysical surveys to cover the entire property and 20,000 m of drilling, the majority of which will be RC. The drilling will consist mainly of infill drilling to support a PEA by Q1 of 2022, but also include chasing the Sullivan and Lucky Strike zones beyond the pit limits that defined the Newcrest drilling in 2002-2008. P2 Gold will also test the deeper IP target to see if higher grade copper-gold mineralization is present that would lend itself to underground mining as can happen with high K calc-alkaline porphyries. Most of the property falls under BLM jurisdiction and P2 Gold will for now rely on 5 acre disturbance notice of intent drill permits. P2 Gold spent $900,000 on the Silver Reef project in 2020, mainly drilling the Main Zone with spotty results. The work included sampling which highlighted the Northwest Zone, which a magnetic survey that summer while the drilling was underway showed that it is part of a linear magnetic trend called the Northwest Zone trend which P2 Gold intends to drill in early summer so that it has results in hand by late August so that it can decide whether to drill additional holes in September or drop the option. The company's highest Golden Triangle hopes lie with the BAM property optioned from Charlie Greig who staked the claims when the most recent owner let them lapse. BAM is a copper-gold prospect discovered during the 1960s when Galore Creek, 35 km to the west, and Shaft Creek, 20 km to the northwest, were found. P2 Gold conducted sampling and geophysical surveys in 2020 which highlighted the Monarch Gold Zone which P2 Gold plans to drill in July with the hope that it represents a copper-gold porphyry system more like Galore Creek than Shaft Creek. The 32,000 hectare Todd Creek project owned by ArcWest Exploration has also been around for decades and is an expensive option, but Ovsenek and MacNaughton optioned it because they see potential for Brucejack style high grade gold zones which they know how to make or break over the next year. As far as the Oregon properties are concerned, Lost Cabin is a high sulphidation epithermal system which Camino had under lease for a while, and Stockade is a newer low sulphidation epithermal system generated by the Bud and Perry team for Tom Kaplan's Electrum group which was dropped without drilling to the hypothesized boiling zone depth. It is not clear that any money will be allocated to the Oregon prospects in 2021. If P2 Gold closes its $16 million private placement it will have 76.5 million issued and 87.5 million fully diluted. It will be sufficiently funded to advance the Gabbs project in Nevada while conducting make or break drill programs on the northern BC prospects during 2021. P2 Gold Inc is a Favorite that started as a people bet on Joe Ovsenek and Ken MacNaughton who started during the 1990's with Silver Standard and played key roles during the past decade at the Pretium spinout. It is not a slam dunk because the initial BC properties optioned for P2 Gold are exploration plays that may not deliver discoveries that justify maintaining the earn-in options. Gabbs is a more advanced project in a year-round jurisdiction where money spent on feasibility demonstration could show that Gabbs can be developed as a profitable open-pit, milling-flotation copper-gold mine, but where there is also exploration potential at depth which could lead to a much bigger and possibly richer underlying copper-gold system. The key milestone is closing that $16 million financing. (Mar 22, 2021) |
| Oct 21, 2022 | Kaiser Watch - 0:06:17 |
| Oct 21, 2022 | KW Excerpt: Kaiser Watch October 21, 2022: P2 Gold Inc (PGLD-V) |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: P2 Gold Inc (PGLD-V) |
| Sep 2, 2022 | Kaiser Watch - 0:16:33 |
| Aug 25, 2022 | Kaiser Watch - 0:05:08 |
| Aug 25, 2022 | KW Excerpt: Kaiser Watch August 25, 2022: P2 Gold Inc (PGLD-V) |
| Jul 15, 2022 | Kaiser Watch - 0:30:37 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: P2 Gold Inc (PGLD-V) |
| May 12, 2022 | Kaiser Watch - 0:16:36 |
| Apr 14, 2022 | Kaiser Watch - 0:32:16 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Feb 24, 2022 | Kaiser Watch - 0:10:36 |
| Feb 23, 2022 | Tracker: P2 Gold - Updated Gabbs Outcome Visualization based on 2022 resource estimate |
| Feb 17, 2022 | Tracker: P2 Gold - Retired Gabbs Outcome Visualization based on 2021 resource estimate |
| Feb 10, 2022 | Kaiser Watch - 0:27:27 |
| Oct 28, 2021 | Discovery Watch with HoweStreet.com - 0:13:50 |
| Jul 29, 2021 | Tracker: What's Next for P2 Gold Inc? |
| Jun 9, 2021 | Discovery Watch with HoweStreet.com - 0:22:53 |
| May 5, 2021 | Discovery Watch with HoweStreet.com - 0:23:01 |
| Mar 25, 2021 | Discovery Watch with HoweStreet.com - 0:22:53 |
| Mar 23, 2021 | Tracker: What's Next for P2 Gold Inc? |
| Mar 22, 2021 | Tracker: Spec Value Rating for P2 Gold Inc (PGLD-V) |
| Jun 18, 2020 | Discovery Watch with HoweStreet.com - 0:17:47 |
| Oct 23, 2023 | Files Gabbs Project Technical Report |
| Sep 11, 2023 | Positive Gabbs Updated Preliminary Economic Assessment with |
| Sep 8, 2023 | Project Updates: BAM Drilling Results and Gabbs PEA Update |
| Aug 14, 2023 | Files Gabbs Project Technical Report |
| Jul 21, 2023 | Private Placement Non Brokered |
| Jul 14, 2023 | BAM Update |
| Jun 29, 2023 | Positive Gabbs Preliminary Economic Assessment |
| Jun 15, 2023 | Kicks Off Drilling at BAM |
| May 31, 2023 | Closes Second Tranche of Non Flow Through Financing |
| May 25, 2023 | Option Grants |
Issued
63,202,408 |
Price
$4.32 |
Working Capital
$2,048,240 |
Story Type
Feasibility Demonstration |
Diluted
66,251,978 |
Insiders
41.4% |
As of
9/30/2023 |
Key People
Laurel Sayer (CEO), Marcelo Kim (Chair), Jessica Largent (CFO), Darren Morgans (CFO), Heather Ennis (Sec), |
| SV Rating: Bottom-Fish Spec Value - as of December 30, 2022: Perpetua Gold Corp, the new name for Midas Gold Corp effective Feb 18, 2021 following a 10:1 rollback on Jan 29, 2021 to allow a NASDAQ listing where it now trades with the symbol PPTA, has been a KRO Fair or Good Spec Value rated recommendation since September 6, 2013 based on its 100% owned gold-antimony Stibnite project in Idaho. On December 31, 2020 Perpetua was continued as a 2021 Favorite at $1.22 ($12.22 after adjusting for the 10:1 rollback) following the filing of a Draft Environmental Impact Statement by the USFS on Aug 14, 2020 and the company's delivery of a positive feasibility study on December 22, 2020. We are now waiting for the USFS to release a Final EIS in Q2 of 2021 followed by a draft Record of Decision in Q3 and a Final Record of Decision in Q4 which becomes the basis for ROD dependent permits and a construction decision in 2022 with production beginning in 2026 if CapEx of $1.3 billion can be raised. On April 5, 2021 Perpetua Gold Corp was confirmed as a Good Spec Value rated Favorite at $7.97 in Tracker Apr 5, 2021 which includes NPV and NPV/share based graphics for the Stibnite project using a close approximation of the parameters in the feasibility study's technical report and showing sensitivity to a gold price as high as $2,500. The feasibility study envisions a 15 year 20,000 tpd open-pit operation that mines three deposits whose refractory ore will be processed through a milling and pressure-oxidation complex that would yield 4,284,000 oz gold and 118 million lbs of antimony with a minor silver by-product. CapEx and Sustaining Capital were USD $1.292 billion and $295 million with OpEx at $26.45 per tonne. At base case prices of $1,600/oz gold, $20/oz silver and $3.50/lb antimony the after tax NPV was $1.347 billion at a 5% discount rate and IRR was 22.3%. At 54.9 million fully diluted that translates into a price target of USD $24.54 or CAD $30.91 at an exchange rate of 1.26 CAD:USD (earning: on April 1 Perpetua filed a short form base shelf prospectus to raise up to USD $100 million through a variety of instrument so fully diluted will rise if any financings are done - as of Dec 31, 2020 Perpetua had USD $22 million working capital). On these assumptions we should expect the stock to be in the CAD $20-$30 range by the end of 2021 if a Record of Decision is achieved. The current market pricing is signaling a thumbs down on that outcome, so in effect Perpetua is a bet on a permitting outcome. But it is a potentially lucrative bet that science rather than politics will dictate the outcome. I have constructed a cash flow model based on the ore schedule in the FS technical report which at the base case prices yields an after-tax NPV of USD $1.13 billion which is 16% lower than Perpetua's nameplate outcome mainly because I cannot emulate the complex depreciation-depletion treatment utilized in the FS. However, the DCF model is close enough that I can justify running it at spot prices as well as at much higher gold prices than allowed by 43-101 sensitivity range rules. The result at $1,728/oz gold, $25/oz silver and $5/lb antimony spot prices as of April 5, 2021 is USD $1.491 billion NPV at 5% with 31.1% IRR and $988 million at 10%. This translates into a mine approval contingent target of USD $27 at 5% and $18 at 10% which is CAD $34 and $23 at prevailing exchange rates. At $2,500 gold the after tax NPV jumps to USD $3.2 billion at 5% and $2.3 billion at 10%, or roughly USD $54 and $42 compared to the NASDAQ price of $6.46, or CAD $68 and $53 compared to the TSX price of $7.97. So if gold stays where it is and Stibnite secures mine approval, we can expect an approximate gain range of 200% to 300% reflecting the difference between 10% and 5% discount rates. On the other hand, if gold makes a 45% move to $2,500 which is a real price move reflecting global uncertainty that does not change the cost structure outlined in the FS, the equivalent gain range is 550% to 736%, more than double the price move in gold. Perpetua thus offers a double to triple if mine approval is achieved, and a five to seven fold gain if at the same time gold goes to $2,500. Perpetua is the best single advanced project leveraged gold bet among the juniors, but this has been made possible by the management discount created by the company's largest shareholder. John Paulson launched Midas Gold (Perpetua) into its permitting trajectory when he agreed in 2016 to fund most of a $55 million financing in the form of a zero coupon $55 million note convertible at about $0.35 ($3.50 post rollback). Getting mine approval will have cost USD $70 million on top of $125 million on feasibility demonstration. Shortly after the DEIS was filed in August 2020 John Paulson converted his note into a 20,935,732 share equity stake representing 44% of Perpetua's 47.6 million issued (54.9 million fully diluted). After the extended DEIS comment period ended in late October 2020 Paulson initiated a purge of the Midas management team, which he achieved on Dec 4, 2020 when Stephen Quin was replaced as CEO by Laurel Sayer whose job had been goodwill marketing while Quin's team did the engineering and technical work to support the DEIS and feasibility study. The independent board was replaced by Paulson's people who are either local politically connected people or connected to Paulson's other gold investments. Their skin in the game amounts to 10,500 shares plus lots of zero-risk stock options. John Paulson's political support for Donald Trump has become a liability, which Perpetua is trying to overcome by pitching the reclamation strategy underpinning the FS and the fact that antimony by-product supply from Stibnite would not only make the United States self-sufficient in terms of antimony rather than reliant on China and other unfriendly nations, but would even be able to help out other democracies which have aligned against autocracy. Furthermore, not included in the mining plan is a high grade antimony zone outside the pit shell which can be quickly accessed by adit via the pit by-pass tunnel that restores waterway access to the upstream watershed and which hosts at least as much by-product antimony as Stibnite would produce during its 15 year life. Antimony isn't overly important to emerging technologies, but if a molten salt technology being investigated as a storage system for renewable energy became viable, the Stibnite Mine would be the place to call. In a sense Perpetua Gold Corp is a short term bet that the politics of its major shareholder will not get in the way of mine approval, and, if that bet fails, a longer term bet that Trump or a clone regains the presidency in 2024. The alternative is a buyout by a major gold producer among whom Barrick Gold which already owns 11.3% is a primary contender because it may have at its disposal an alternative scenario where concentrate gets trucked to Nevada for roasting at one of its facilities with spare capacity. However, since the formation of the Nevada Gold JV with Newmont in 2019 whose purpose was to rationalize the infrastructure of their respective operations this opportunity may no longer be available. So Perpetua should be looked at as a future standalone mine open to all bidders which currently offers Good Speculative Value because of market skepticism about mine approval and the competence of the management team installed by John Paulson, a vocal Trump supporter, after forcing out in late 2020 Stephen Quin's team which had led Stibnite through the permitting cycle and delivered a feasibility study. (Apr 6, 2021) |
| Nov 3, 2022 | Kaiser Watch - 0:16:02 |
| Nov 3, 2022 | KW Excerpt: Kaiser Watch November 3, 2022: Perpetua Gold Corp (PPTA-T) |
| Sep 2, 2022 | Kaiser Watch - 0:21:39 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Perpetua Gold Corp (PPTA-T) |
| Jul 15, 2022 | Kaiser Watch - 0:15:49 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Perpetua Gold Corp (PPTA-T) |
| Jun 23, 2022 | Kaiser Watch - 0:00:00 |
| Jun 23, 2022 | KW Excerpt: Kaiser Watch June 23, 2022: Perpetua Gold Corp (PPTA-T) |
| Apr 14, 2022 | Kaiser Watch - 0:33:46 |
| Mar 3, 2022 | Kaiser Watch - 0:08:48 |
| Jan 20, 2022 | KW Excerpt: Kaiser Watch January 20, 2022: Perpetua Gold Corp (PPTA-T) |
| Jan 20, 2022 | Kaiser Watch - 0:07:08 |
| Aug 19, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Jul 28, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Apr 8, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Apr 6, 2021 | Tracker: What's Next for Perpetua Gold Corp |
| Apr 6, 2021 | Tracker: Spec Value Rating for Perpetua Gold Corp (PPTA-T) |
| Apr 5, 2021 | Tracker: Is Perpetua headed the way of the Roman noblewoman and her slave Felicity? |
| Dec 23, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Nov 25, 2020 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Aug 28, 2020 | Tracker: What's Next for Midas Gold Corp? |
| Aug 28, 2020 | Discovery Watch with HoweStreet.com - 0:09:52 |
| Aug 27, 2020 | Tracker: US Forest Service accepts Draft EIS for the Stibnite gold-antimony project of Midas Gold |
| Aug 3, 2020 | Tracker: What's Next for Midas Gold Corp? |
| Jul 29, 2020 | Discovery Watch with HoweStreet.com - 0:16:56 |
| Jul 27, 2020 | Tracker: What is Midas Gold worth at current gold prices? |
| Apr 15, 2020 | Discovery Watch with HoweStreet.com - 0:17:24 |
| Mar 19, 2020 | Discovery Watch with HoweStreet.com - 0:20:10 |
| Jul 19, 2019 | Tracker: Spec Value Rating for Midas Gold Corp (MAX-T) |
| Jun 6, 2019 | Discovery Watch with HoweStreet.com - 0:22:41 |
| Feb 5, 2019 | Discovery Watch with HoweStreet.com - 0:00:00 |
| May 17, 2018 | Discovery Watch with HoweStreet.com - 0:00:00 |
| May 9, 2018 | SVH Tracker: Barrick invests $49 million in Midas Gold to secure 19.9% |
| Jan 10, 2018 | SVH Tracker: Recommendation Strategy for Midas Gold Corp |
| Jan 5, 2018 | Discovery Watch with HoweStreet.com - 0:23:23 |
| Jun 30, 2017 | Discovery Watch with HoweStreet.com - 0:14:31 |
| Jun 9, 2017 | Discovery Watch with HoweStreet.com - 0:04:20 |
| Feb 24, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Jan 17, 2017 | SVH Tracker: Recommendation Strategy for Midas Gold Corp |
| Jan 5, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Mar 22, 2016 | SVH Tracker: Recommendation Strategy for Midas Gold Corp |
| May 26, 2015 | SVH Tracker: Midas raises $8 million to eliminate financing risk over next 12 months |
| Feb 15, 2015 | Excerpt from Express 2015-01: SVH 2015 January Review - Midas Gold |
| Feb 11, 2015 | SVH Tracker: Recommendation Strategy for Midas Gold Corp |
| Nov 13, 2023 | Third Quarter 2023 Highlights |
| Aug 21, 2023 | Awarded up to $15.5 Million in Department of Defense Funding to Demonstrate a Fully Domestic Antimony Trisulfide Supply Chain |
| Aug 14, 2023 | Appoints Vice President of Projects |
| Aug 14, 2023 | Second Quarter 2023 Highlights |
| Aug 9, 2023 | Perpetua Resources and Nez Perce Tribe Filed Clean Water Act Settlement Agreement |
| Jul 26, 2023 | Signs Definitized Agreement for Critical Minerals Award of $24.8 million under the Defense Production Act |
| Jun 28, 2023 | Begins Next Phase of Cleanup Activities at Historical Mine Site |
| Jun 22, 2023 | 2022 Sustainability Report |
| Jun 20, 2023 | and Nez Perce Tribe Reach Agreement in Principle under the Clean Water Act |
| May 23, 2023 | Addition to the Russell 2000 Index |
Issued
52,669,724 |
Price
$1.05 |
Working Capital
($8,382,000) |
Story Type
Producer |
Diluted
55,362,409 |
Insiders
20.1% |
As of
9/30/2023 |
Key People
Cristiano Veloso (CEO), Felipe B. Paolucci (CFO), Lucas Brown (VP CD), |
| SV Rating: Good Spec Value - Favorite - as of December 30, 2022 |
| Sep 29, 2023 | KW Excerpt: Kaiser Watch September 29, 2023: Verde Agritech Ltd (NPK-T) |
| Sep 29, 2023 | Kaiser Watch - 0:20:04 |
| Aug 22, 2023 | KW Excerpt: Kaiser Watch August 22, 2023: Verde Agritech Ltd (NPK-T) |
| Aug 22, 2023 | Kaiser Watch - 0:00:00 |
| Jul 28, 2023 | KW Excerpt: Kaiser Watch July 28, 2023: Verde Agritech Ltd (NPK-T) |
| Jul 28, 2023 | Kaiser Watch - 0:08:56 |
| Jul 21, 2023 | KW Excerpt: Kaiser Watch July 21, 2023: Verde Agritech Ltd (NPK-T) |
| Jul 21, 2023 | Kaiser Watch - 0:00:00 |
| Apr 28, 2023 | Kaiser Watch - 0:27:06 |
| Apr 28, 2023 | KW Excerpt: Kaiser Watch April 28, 2023: Verde Agritech Ltd (NPK-T) |
| Apr 6, 2023 | Kaiser Watch - 0:00:00 |
| Apr 6, 2023 | KW Excerpt: Kaiser Watch April 6, 2023: Verde Agritech Ltd (NPK-T) |
| Jan 6, 2023 | KW Excerpt: Kaiser Watch January 6, 2023: Verde Agritech Ltd (NPK-T) |
| Jan 6, 2023 | Kaiser Watch - 0:34:39 |
| Nov 18, 2022 | Kaiser Watch - 0:24:13 |
| Nov 18, 2022 | KW Excerpt: Kaiser Watch November 18, 2022: Verde Agritech Ltd (NPK-T) |
| Oct 28, 2022 | Kaiser Watch - 0:00:00 |
| Oct 28, 2022 | KW Excerpt: Kaiser Watch October 28, 2022: Verde Agritech Ltd (NPK-T) |
| Sep 16, 2022 | Kaiser Watch - 0:14:04 |
| Sep 16, 2022 | KW Excerpt: Kaiser Watch September 16, 2022: Verde Agritech Ltd (NPK-T) |
| Sep 2, 2022 | Kaiser Watch - 0:06:17 |
| Sep 2, 2022 | KW Excerpt: Kaiser Watch September 2, 2022: Verde Agritech Ltd (NPK-T) |
| Aug 18, 2022 | Kaiser Watch - 0:00:00 |
| Aug 18, 2022 | KW Excerpt: Kaiser Watch August 18, 2022: Verde Agritech Ltd (NPK-T) |
| Aug 11, 2022 | KW Excerpt: Kaiser Watch August 11, 2022: Verde Agritech Ltd (NPK-T) |
| Aug 11, 2022 | Kaiser Watch - 0:25:32 |
| Jul 15, 2022 | KW Excerpt: Kaiser Watch July 15, 2022: Verde Agritech Ltd (NPK-T) |
| Jul 15, 2022 | Kaiser Watch - 0:36:11 |
| Jul 7, 2022 | KW Excerpt: Kaiser Watch July 7, 2022: Verde Agritech Ltd (NPK-T) |
| Jul 7, 2022 | Kaiser Watch - 0:00:00 |
| Jun 2, 2022 | Kaiser Watch - 0:00:00 |
| Jun 2, 2022 | KW Excerpt: Kaiser Watch June 2, 2022: Verde Agritech Ltd (NPK-T) |
| May 26, 2022 | KW Excerpt: Kaiser Watch May 26, 2022: Verde Agritech Ltd (NPK-T) |
| May 26, 2022 | Kaiser Watch - 0:16:47 |
| May 19, 2022 | Kaiser Watch - 0:16:54 |
| Apr 28, 2022 | Kaiser Watch - 0:18:21 |
| Apr 21, 2022 | Kaiser Watch - 0:00:00 |
| Dec 29, 2021 | Discovery Watch with HoweStreet.com - 0:20:28 |
| Nov 17, 2021 | Discovery Watch with HoweStreet.com - 0:00:01 |
| Jan 8, 2021 | Discovery Watch with HoweStreet.com - 0:20:31 |
| Mar 26, 2020 | Discovery Watch with HoweStreet.com - 0:14:20 |
| Nov 21, 2019 | Tracker: Poor spin control makes Verde Agritech a bargain |
| Nov 21, 2019 | Discovery Watch with HoweStreet.com - 0:28:58 |
| Jun 28, 2019 | Tracker: Spec Value Rating for Verde Agritech Plc (NPK-T) |
| Jun 6, 2019 | Discovery Watch with HoweStreet.com - 0:00:00 |
| May 22, 2018 | Discovery Watch with HoweStreet.com - 0:08:17 |
| Mar 12, 2018 | Discovery Watch with HoweStreet.com - 0:25:16 |
| Nov 28, 2017 | SVH Tracker: Verde Agritech spells out Super GreenSand game plan |
| Nov 24, 2017 | Discovery Watch with HoweStreet.com - 0:15:23 |
| Jun 2, 2017 | Discovery Watch with HoweStreet.com - 0:06:36 |
| May 3, 2017 | Discovery Watch with HoweStreet.com - 0:14:54 |
| Feb 17, 2017 | Discovery Watch with HoweStreet.com - 0:00:00 |
| Nov 15, 2023 | Achieves C$9.4 million revenue and increases cash position by 82% in the third quarter of 2023 |
| Oct 30, 2023 | Life Cycle Assessment Results in Accordance with ISO Standards |
| Oct 23, 2023 | Cultivates Financial Resilience with Banco do Brasil and Bradesco Backing |
| Oct 16, 2023 | Advances into phase 2 of Musk Backed $100M XPRIZE Carbon Removal Challenge |
| Oct 11, 2023 | Appoints Vice President of Corporate Development |
| Sep 29, 2023 | Automatic Securities Disposition Plan Established by Verde AgriTech Chief Executive Officer |
| Sep 20, 2023 | Appoints Chief Revenue Officer |
| Sep 12, 2023 | Railway to freight up to 50Mtpy of Verde's Product granted Construction permit |
| Aug 30, 2023 | Products Remove Carbon Dioxide from Air in Mere Months of Application |
| Aug 22, 2023 | Appoints Chief Marketing Officer |
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