After acquiring the neighbouring Goldlund open pit project from First Mining Gold, Treasury Metals (TML.TO, TSRMF.US) has been busy ever since to integrate both projects into a single open pit-underground project with synergies whenever possible. After hiring Ausenco, a reputable engineering firm, and appointing a new President and CEO, Jeremy Wyeth, who has lots of experience in building mines, the company worked diligently for 6 months on an integrated Preliminary Economic Assessment (PEA) for both projects.

Treasury Metals (TML.TO, TSRMF.US) recently surprised the markets with the raising of C$11.5M in an oversubscribed financing, after announcing the pretty interesting all-equity acquisition, worth C$44M in shares at the time of the news release, of the neighbouring Goldlund open pit project from First Mining Gold, adding 1.6Moz Au of resources to the 1.46 Moz AuEq of Treasury’s flagship Goliath Gold open pit/underground project.

Like most projects around the world, Treasury Metals (TML.TO, TSRMF.US) has temporarily slowing down and shutting down drilling at their Goliath Gold project in Ontario, caused by the omnipresent COVID-19 pandemic, but as it has been completing over half of their drilling program before the virus broke out, it has been reporting several sets of drill results so far this year, and still has a few batches to come.

1. Introduction

Sometimes I come across a familiar name that seems to be around forever, not achieving remarkable highs or lows, just following its course quietly like a small river or creek. In those cases I often look in vain for upcoming catalysts, as such companies usually don’t have fast-tracking mentioned in their dictionairies.