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THE CRITICAL INVESTOR NEWSLETTER # 98

Dear subscriber,

I proudly present Treasury Metals as a new client, as I believe its Goliath Gold project is a very solid gold project in an excellent jurisdiction. It already has a very decent gold resource which stands at 1.4Moz Au at the moment, with mostly Indicated, and the company is looking to add more soon in the ongoing drill program. There is significant potential at depth (Red Lake area) and on strike. The 2017 PEA figures are robust with after-tax numbers for the NPV5 of C$306M and IRR of 25% at a gold price of US$1225/oz, while the current gold price trades around US$1575/oz, and the market cap of Treasury stands at C$45.7M. Half a year ago the company was granted permission on the Environmental Impact Assessment, equal to the environmental permit, which was an important milestone for the company since they have been working on this for many years. The PFS will probably be out at the beginning of Q2 of this year, and according to management, economics could very much resemble the PEA figures. With the PFS out, and exploration indicating further upside potential, Treasury Metals could be an interesting take over target soon in a strong gold market. Read more about it here:

Treasury Metals Advancing Goliath Gold Project Rapidly Towards PFS With Environmental Assessment Approval In Hand

Regards,

The Critical Investor

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