Category: Gold

1. Gold slips from three-week high as strong dollar weighs  Reuters
2. Gold just saw its biggest yearly gain since 2010 — here’s why Wall Street says prices will go even higher  Yahoo Finance

Watch Why Goldman Sees Gold as an Exciting Investment Opportunity  Bloomberg

Why you should open a gold IRA for 2025  CBS News

Source: Streetwise Reports 01/02/2025

West Red Lake Gold Mines Inc. (WRLG:TSX.V; WRLGF:OTCQB) announces the completion of a US$35 million credit facility with Nebari Natural Resources Credit Fund II LP. Find out why one analyst writes that the company’s exploration plans have “good potential for resource expansion.”

West Red Lake Gold Mines Inc. (WRLG:TSX.V; WRLGF:OTCQB) announced it has completed a US$35 million credit facility with Nebari Natural Resources Credit Fund II LP to be issued in three tranches.

The first, US$15 million, was drawn down on December 31, 2024. The following tranches will be for US$15 million and US$5 million, the company said.

“Closing this transaction with Nebari is a major de-risking step and gives West Red Lake access to up to US$35 million of non-dilutive capital at highly favorable repayment terms, which offers us solid operational flexibility going forward and allows the company to sustain the momentum as we push to restart the Madsen project,” West Red Lake President and Chief Executive Officer Shane Williams said. “With this Credit Facility in place, West Red Lake Gold is well funded to restart the Madsen Mine in 2025.”

The two companies entered into a non-binding term sheet in October 2024 and have since worked closely together “through a detailed due diligence process that investigated all aspects of West Red Lake Gold and the Madsen Mine project,” West Red Lake said in a release.

The company said the proceeds will be used for completing the remaining capital costs to restart the Madsen Mine and other corporate, exploration, and working capital expenses.

“We have high confidence in the dedication and professionalism of the West Red Lake Gold team and look forward to the successful restart of commercial gold production at Madsen,” Nebari Managing Director Richard Gaze said.

The Red Lake Camp is a cornerstone of Canada’s role as the fifth-largest gold producer in the world. Gold was first discovered there in 1897, but it took 20 years for it to be explored fully because of the area’s remoteness. Since large-scale mining began there in 1938, more than 26 million ounces (Moz) Au have been produced from underground mines there.

“The area is known for exceptionally high-grade Au, with one famous sample, the Campbell Mine Whopper, containing 431 ounces in a football-sized rock,” Ian Burron wrote for Geology for Investors. Nearly a century later, “the last few years have seen the tide once again turn in Red Lake’s favor.”

Analyst Anticipates Mine Restart Will Be Successful

The maturity date of the credit facility will be 42 months following the closing of the first tranche, West Red Lake said. The company also has issued 5,867,376 bonus warrants to purchase common shares at CA$0.73 per share for the first tranche and will issue similar warrants for the later tranches.

West Red Lake Gold said the credit facility will enable it to continue its detailed mine ramp-up schedule, which in the coming months will include the test mining of bulk samples, continuing an increase in daily development meterage, starting up the mill in the first quarter and processing the bulk sample, and the ramping up of production mining in Q2.

Cantor Fitzgerald Analyst Matthew O’Keefe with Cantor Fitzgerald wrote in a December research note that the company’s “strategy of near mine exploration is showing good potential for resource expansion from satellite deposits such as Fork, Upper 8 and Wedge and deeper areas like the 8-Zone and the down-plunge extension of Madsen proper.”

“Additional drill results and updates from the ongoing test-mining program are expected through year-end,” wrote the analyst, who maintained his Buy rating on the stock with a CA$1.40 per share price target. “The updated PFS (preliminary feasibility study) is expected in early 2025. Restart of the mine remains on-track for mid-2025.”

“We anticipate the mine’s redevelopment will be successful, and its high-grade nature will drive a premium valuation,” O’Keefe continued.

Company Takes Second Look at Deposit

In December, West Red Lake announced it had “re-envisioned” its interpretation of the Fork Deposit. In a release, the company said it had “recognized a shallow, high-grade, low-plunging zone of gold mineralization that is located approximately 250 meters southwest from existing underground development at Madsen.”

The new zone trends north-to-south and has been defined by previous drilling over an area of 400 meters by 250 meters, the company said. It shows potential for further expansion along strike to the south. The average thickness of the zone is conservatively estimated at approximately 2 meters based on existing core length intercepts.

O’Keefe called the development a “positive” for the company. “Fork has been re-envisioned as a high-grade near-mine resource expansion target that will be a top priority exploration target in 2025,” he wrote. “The shallow nature of the target will allow further definition through surface drilling, and its proximity to existing underground development should allow its incorporation into the mine plan relatively quickly.”

The Fork deposit currently contains an indicated mineral resource of 20,900 ounces grading 5.3 grams per tonne gold (g/t Au), with an additional inferred resource of 49,500 ounces grading 5.2 g/t Au, the company said.

The Catalyst: Will Gold’s Rally Continue This Year?

Gold had quite a year in 2024, surging more than 27%, its strongest annual gain since 2010, Yahoo! Finance reported. Most experts believe it continues to be in a bull market as we enter the new year.

Kitco reported on Thursday that gold prices were higher in early U.S. trading.

“The precious metals markets are seeing buying support on this first trading day of 2025 amid a dip in U.S. Treasury yields and a rally in the crude oil market,” Jim Wyckoff wrote for the site. “However, gains are being limited by a higher U.S. dollar index that hit a more-than-two-year high overnight. February gold was last up US$8.80 at US$2,649.80.”[OWNERSHIP_CHART-5614]

However, for the last four years, the first trading day of the new year has been a contrarian indicator, with the S&P 500 ending the year in the opposite direction it moved on the first trading day, according to Jim Reid, Deutsche Bank analyst, Wyckoff wrote.

The price of gold is set to rise further in 2025, say Wall Street analysts, although the pace of gains is likely to slow. Gold is expected to climb to about US$2,795 per troy ounce by the end of the year, according to the average forecast by banks and refiners surveyed by the Financial Times.

“That is about 7% above current levels,” the Times’ Leslie Hook wrote Thursday. “The yellow metal is expected to continue to benefit from buying by global central banks, which have been diversifying away from the dollar since the U.S. imposed sanctions on Russia following its 2022 full-scale invasion of Ukraine.”

Ownership and Share Structure

Advisor Frank Giustra owns 9.4% of West Red Lake as a strategic investor and insider, according to the company’s investor presentation. Sprott Resource Lending Corp. holds 18.6%, VanEck Gold Fund holds 4.1%, and Evolution Mining Ltd. holds 1.6%. Institutional ownership totals approximately 31%, with the remaining shares held by retail investors.

The company’s market cap is CA$191.68 million. The 52-week range for the stock is CA$0.52 to CA$1.04.

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Important Disclosures:

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Red Lake Gold Mines Inc.
2. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: WRLG:TSX.V; WRLGF:OTCQB,
)

Source: Streetwise Reports 01/02/2025

Their numerous reasons include the project’s location, size, projected economics, resource growth potential and likelihood to be taken out. Read on for the specifics.

AbraSilver Resource Corp. (ABRA:TSX.V; ABBRF:OTCQX) is a precious metals explorer advancing its large-scale Diablillos silver-gold project in northern Argentina’s mining-friendly Salta province. The company owns a large land package and is currently drilling many high-priority targets in a 20,000-meter (20,000m) resource expansion and stepout drill campaign. The company is well cashed up to continue its exploration work, having about CA$14 million (CA$14M) as of September 30, 2024.

Leading the company is Chief Executive Officer (CEO) John Miniotis, with 20-plus years of experience in the mining industry, having worked at Lundin Mining Corp. (LUN:TSX), AuRico Metals Inc. (AMI:TSX), Barrick Gold Corp. (ABX:TSX; GOLD:NYSE) and BMO Capital Markets. His areas of expertise are corporate finance, mergers and acquisitions, equity capital markets and investor relations.

In its most recent development, AbraSilver gained Teck Resources Ltd. (TECK:TSX; TECK:NYSE) as a key investor when the private placement in which it was the sole subscriber closed on December 19, 2024, a news release noted. In the financing, AbraSilver generated gross proceeds of US$1 million (US$1M) from the sale of 408,163 of its common shares at US$2.45, or CA$3.47, apiece to Teck.

This transaction was part of the terms of a recent agreement between the two companies, in which Teck may earn an 80% interest in the 70,000-hectare La Coipita copper porphyry project in Argentina’s San Juan province. To do so, Teck must fund US$20M worth of exploration over five years, make staged cash payments to AbraSilver, make US$3M worth of equity placements in AbraSilver, and make up to US$6.3M in optional cash payments related to amounts due the project’s vendors.

Reasons For Bullish Stance

A handful of experts like and cover AbraSilver. Here is what each of them has said about it.

The advanced-stage exploration company is one of the Top 10 precious metals picks of Jordan Roy-Byrne, editor/publisher of The Daily Gold Premium, in his portfolio since March 2024. He rates it Hold.

In his December 29, 2024 update, he noted Diablillos is in a “great jurisdiction.” He noted the project’s Measured and Indicated resource of 260,000,000 ounces of 151 grams per ton silver equivalent (260 Moz of 151 g/t Ag eq) and wrote that the JAC zone discovery of 36 Moz of 212 g/t silver was a “game changer. All oxide.”

He reported that the second prefeasibility study (PFS) of the project, completed in November 2024, outlined an operation requiring US$544M of capex and producing an average of 13.4 Moz of Ag eq at an all-in-sustaining cost (AISC) of US$12.67 per ounce (US$12.67/oz) annually throughout the 14-year life of mine. During the first five years, average annual production would be 16.5 Moz of Ag eq at an US$11.23/oz AISC.

Diablillos’ net present value (NPV), per the PFS, would be an estimated US$1.29 billion, and the internal rate of return would be 39.3%, based on US$30.70/oz silver (Ag) and US$2,650/oz gold (Au).

Roy-Byrne mentioned that potential exists for Diablillos resource expansion, noting that AbraSilver is targeting another one to two years of high-grade from the JAC North satellite deposit. One highlight result from the area 150 meters (150m) south of the JAC zone, from the current drill program (of which 12,000m have been completed), is 244.9 g/t Ag over 33.4m. Other highlight intercepts from outside JAC include 250 g/t Ag over 50.2m and 175.2 g/t Ag over 62m.

“Adding +15 Moz from JAC North could increase [the] NPV by US$100M,” Roy-Byrne wrote.

In a mid-December 2024 research report, Hallgarten & Co. Analyst Christopher Ecclestone wrote that AbraSilver’s Diablillos project is positioned “as one of the most important silver projects coming down the pike at a global level” due to several converging events.

“The rise of silver (and gold) to new record trading ranges combined with the onset of the Milei Administration (bringing Argentina in from the cold), the burgeoning of infrastructure on the altiplano (prompted by the lithium brine boom), and the publishing of two PFSes in 2024 (each better than the prior one) have collectively given AbraSilver the impetus to move into development mode,” Ecclestone explained.

His rating on AbraSilver is Long, and his price target implies a 92% return.

The analyst pointed out the high potential for Diablillos to be acquired, given it is the largest precious metals project in Argentina. It spans 7,919 hectares and comprises 15 contiguous and overlapping mineral leases. The Proven and Probable reserve there is 210 Moz of Ag eq. This equates to 42,300,000 tons of 91 g/t Ag and 0.81 g/t Au.

The resource likely could be expanded, Ecclestone wrote, through additional drilling of several targets near the planned Oculto-JAC open-pit, such as Oculto, JAC, Fantasma, Laderas, JAC North and Alpaca, and initial drilling of many others targets elsewhere in the concession block.

The economics of Diablillos, outlined in the second PFS, could be improved in the feasibility study, the next step, Ecclestone purported. The FS would include phase four results from the in-progress drill program started in early H2/24. AbraSilver could add to the operation the low-cost processing of waste, mineralized material below the cutoff grade, via, say, heap leaching. Also, it could incorporate the sulfide mineralization encountered below the oxide material.

In a mid-December 2024 research report, Hallgarten & Co. Analyst Christopher Ecclestone wrote that AbraSilver’s Diablillos project is positioned “as one of the most important silver projects coming down the pike at a global level” due to several converging events.

Ecclestone also noted that Incentive Regime for Large Investments (RIGI) in Argentina will benefit AbraSilver and Diablillos. This federal program, enacted under President Javier Milei and effective as of July 8, 2024, aims to incentivize foreign investment into Argentina and ease the tax burden of companies developing in-country projects worth US$200M, the analyst noted in a September 29, 2024 country report.

RIGI is “the most relevant initiative thus far as far as mining investors should be concerned,” commented Ecclestone. The program’s benefits include a reduction of corporate taxes to 25% from 35%, elimination of export duties, removal of all foreign exchange restrictions and provision of value-added tax reimbursement on capital expenditures and tax stability throughout the life of mine.

The financial effect of RIGI will be “dramatic for AbraSilver, in a way that few outside investors seem to have grasped,” he wrote. Accordingly, in the second PFS, the updated taxes, royalties, and export duties amounted to US$536M versus US$965M in the first PFS.

Another positive aspect of AbraSilver is its strategic investors, Kinross Gold Corp. (K:TSX; KGC:NYSE), and an affiliate of Central Puerto SA (CEPU:NYSE), a local privatized power generator. Further, AbraSilver and Kinross have a regional partnership to jointly explore and acquire new silver, gold, and copper-focused projects in Argentina.

Finally, Diablillos’ location is notable, Ecclestone wrote, in Salta, a booming mining region and home to First Quantum Minerals Ltd.’s (FM:TSX; FQM:LSE) Taca copper-molybdenum-gold project. According to AbraSilver, Salta ranked No. 1 for Investment Attractiveness in Latin America, in 2023, according to the Fraser Institute’s latest Mining Survey, for that year.

This location, in the Puna region, reported Ecclestone, is the southern extension of the altiplano, or high plateau, of southern Peru, Bolivia, and northern Chile, which separates the Cordillera Oriental to the east and the Andean Cordillera (Cordillera Occidental) to the west. The Diablillos concessions cover highly prospective porphyry occurrences. Also, they abut and cover two lithium salt pans, the Salar de Hombre Muerto and the Salar de Diablillos.

“The proliferation of lithium projects in the zone has brought a wealth of infrastructure which mitigates some of the capex that AbraSilver would otherwise have to install,” Ecclestone wrote.

Beacon Securities Analyst Michael Curran wrote in a July 5, 2024 research report, “We consider AbraSilver to have above average potential to successfully transition from explorer to producer over the next few years.”

Then, Argentina’s RIGI was about to go into effect, and Curran detailed how it would affect Diablillos, which would qualify for its tax benefits. Specifically, in year three of the mining operation and beyond, AbraSilver no longer would have to pay export duties on the silver and gold Diablillos produced. The income tax rate on the project would be 25% as opposed to the 35% before RIGI.

“Clearly both measures would reduce the overall tax burden on the Diablillos project and lead to improved cash flow for the operation over the mine life,” wrote Curran.

He has a Buy rating on AbraSilver. His target price implies a 135% uplift.

According to Peter Krauth of Silver Stock Investor, “ABRA shares have remained solidly up this year and ahead 35% since being added to the portfolio in April. Attractive to add on weakness.”

In an Oct. 28, 2024 article, he commented on recent drill results returning grades up to 190 g/t from the Oculto northeast area and grades up to 129 g/t from the JAC southeast area: “These holes are solid if not exciting, helping to expand Oculto shallow mineralization and to expand JAC outside the conceptual pit boundary.”

Beacon Securities Analyst Michael Curran wrote in a July 5, 2024 research report, “We consider AbraSilver to have above average potential to successfully transition from explorer to producer over the next few years.”

He reported results of a TITAN geophysical survey done to the northeast of Oculto showed a large chargeability anomaly beneath Cerro Blanco, “interpreted as potentially being a large porphyry intrusion.” The survey pinpointed areas within it to be drill tested.

Analyst Don DeMarco at National Bank of Canada wrote in his August 19, 2024 research flash that Diablillos boasts a “large silver-gold Measured & Indicated resource base, near-surface high-grade silver in the JAC deposit, prospective exploration upside and heightened mergers and acquisitions appeal.”

At the time of his report, the exploration company had released results of drilling in the JAC and Oculto zones. “JAC stepouts hint at resource accretion,” DeMarco wrote.

Today, along with an Outperform rating, the analyst has a target price on AbraSilver, implying a 135% potential return.

Another analyst covering AbraSilver, Felix Shafigullin at Eight Capital, rates the stock Buy. His target, though, suggests a higher possible return of 156%.

The Catalysts

AbraSilver has some future events that could boost its share price, Ecclestone wrote and listed them. In the near term, investors can expect additional drill results from the explorer as it completes the last 8,000m of its ongoing drill program at Diablillos. [OWNERSHIP_CHART-9164]

The company is also working on a definitive feasibility study of the project, which is slated to be ready in early 2026. In the meantime, AbraSilver might announce an updated, expanded Diablillos resource.

Ownership and Share Structure

According to Refinitiv, the top six strategic entities own 21% of AbraSilver. The top 3 shareholders are: Eric Sprott with 9.9%, Kinross Gold with 4.0% and Central Puerto with 4.0%. Additionally, the top 3 insiders are Chief Executive Officer (CEO) John Miniotis with 1.0% or 1.3M shares, Director Hernan Zaballa with 0.86% or 1.08M shares, and Chairman and Director Robert Bruggeman with 0.74% or 0.93M shares.

Nine institutions hold 6.84% or 8.58M shares. The Top 3 are Mirae Asset Global Investments (USA) LLC with 2.1% or 2.63M shares, ETF Managers Group LLC with 1.74% or 2.18M shares, and Sprott Asset Management LP with 1.2% or 1.51M shares.

The company has 128.7M outstanding shares and its market cap is CA$323M. Its 52-week high and low are CA$3.18 and CA$1.30 per share, respectively.

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Important Disclosures:

1. AbraSilver Resource Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Barrick Gold Corp.
3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: ABRA:TSX.V; ABBRF:OTCQX,
)

Source: Streetwise Reports 01/02/2025

Canterra Minerals Corp. (CTM:TSX.V; CTMCF:OTC) uncovers high-grade silver potential at its Nevada project. Could this discovery redefine the region’s mining landscape in 2025?

Canterra Minerals Corp. (CTM:TSX.V; CTMCF:OTC) recently issued a year-end update on its critical minerals projects located in the Central Newfoundland Mining District, highlighting a transformative year in 2024. The company conducted significant exploration activities, financial maneuvers, and strategic project developments that have strengthened its position in the region known for its copper, zinc, lead, and gold resources.

One of Canterra’s most notable achievements was completing a maiden drill program at the Lemarchant project, which yielded 28 meters averaging 1.19 g/t gold, 67.9 g/t silver, 0.48% copper, 5.42% zinc, and 1.33% lead. This drill program has laid the groundwork for resource growth. In addition, results from gravity surveys at the Long Lake and Tulks East projects identified new drill targets, while the Buchans Project mineral resource estimate underscored its potential as the largest copper-zinc-lead deposit in the district.

The company’s financial achievements in 2024 included the completion of an oversubscribed private placement of US$4.6 million in December, complementing an earlier US$1.5 million placement. Canterra also monetized its Buffalo Hills diamond project for US$1.05 million and optioned its Ring of Fire project to Teck Resources for US$275,000 and a 1.5% net smelter return (NSR) royalty. These financial transactions have provided the capital necessary to sustain exploration efforts and resource expansion.

Initial drill results from the Buchans Project showed 60 meters of 2.25% copper equivalent, including 26 meters of 3.17% copper equivalent from the surface. The final results expanded mineralization at depth and laterally, including 105 meters of 1.53% copper equivalent and 78 meters of 2.00% copper equivalent.

President and CEO Chris Pennimpede remarked in the press release, “2024 was a transformative year for Canterra. Not only did we have success at the drill bit on two advanced-stage copper projects, but we also monetized parts of our project pipeline while maintaining exposure to the future exploration upside.”

Insight on the Mining and Critical Minerals Sector

The critical minerals sector saw significant developments in 2024, driven by geopolitical shifts and domestic policy adjustments aimed at reducing dependency on foreign resources. According to an Ahead of the Herd report on December 16, the United States made strides in bolstering its domestic supply chain for critical minerals. This included leveraging funds under the Defense Production Act (DPA) to re-establish a rare earths supply chain. The bipartisan effort highlighted critical minerals like copper and zinc as essential for clean energy and national defense.

In a December 3 research report, Timothy Lee with Red Cloud said that Canterra Minerals Corporation demonstrated significant potential for resource growth following its maiden eight-hole drill program at the Lundberg deposit within its Buchans project.

China’s continued restrictions on the export of key materials, such as gallium and germanium, further emphasized the importance of domestic production. As the report stated, “China’s restrictions on graphite and other critical metals are making it harder for the United States to obtain the raw materials required for both economic and defense purposes.” This aligns with ongoing efforts to enhance North American resource independence.

In the zinc sector, the Zinc Global Market Report of 2024 outlined the growing significance of zinc in battery technology and construction. According to the report, “Secondary lead production now accounts for more than half of all lead produced throughout the world,” underscoring a shift towards recycling and sustainability. Zinc’s role in galvanization and its importance in renewable energy applications highlight its relevance in this evolving market.

The lead mining market also saw advancements, as outlined by Industry Arc in its 2025 forecast. The report emphasized, “Lead-acid batteries remain a dominant use case, with over 95% of the material recycled for use in new batteries.” Environmental challenges persist, but the integration of IoT technology in mining operations has improved efficiency and reduced production costs.

Copper’s performance in 2024 reflected mixed economic signals. On December 11, Forbes reported a flatlining price of US$4.18/lb, which was attributed to slower demand growth and geopolitical tensions. UBS projected copper to average US$4.25/lb in the first quarter of 2025, noting, “A less favorable macro backdrop is not typically bullish for Dr. Copper.” However, the long-term outlook remained optimistic, with supply tightening expected to drive recovery in later years.

Finally, the gold sector ended the year on a high note. In a December 31 report from 321 Gold, Stewart Thomson highlighted, “Gold scored a ’26 bagger’ against the dollar index since 1976, demonstrating its resilience as a store of value.” The report noted oversold conditions in gold mining stocks, suggesting that 2025 could see further growth, particularly as geopolitical and economic uncertainties persist.

Key Drivers for Canterra’s Growth and Strategic Opportunities

Canterra’s 2025 outlook includes key milestones that could further enhance its competitive positioning, as referenced in the company’s investor presentation. The Buchans Project will remain a focal point with plans to conduct a Phase 2 drill program to explore deeper and lateral extensions of known mineralization. The company’s technical advisory committee, established in 2024, will support advanced exploration and resource modeling efforts across all projects.

The Boomerang Project is set to begin its Phase 1 drill program, targeting high-grade zones identified through recent geophysical re-interpretation. Simultaneously, property-wide greenfield exploration will start across Canterra’s extensive 518 km² landholdings. This includes systematic testing of the Rogerson Lake Conglomerate structure, which has demonstrated significant gold and base metal potential.

Additional catalysts include leveraging big data and AI-driven target generation for new high-grade discoveries. By integrating historical drilling data with modern geophysical techniques, Canterra aims to refine its exploration strategy.

High-Grade Mineralization Suggests Further Resource Expansion

In a December 3 research report, Timothy Lee with Red Cloud said that Canterra Minerals Corporation demonstrated significant potential for resource growth following its maiden eight-hole drill program at the Lundberg deposit within its Buchans project. Lee noted that the drill results extended mineralization beyond the 2019 resource envelope, with highlights including 78 meters of 2.0% copper equivalent (CuEq) and 105 meters of 1.53% CuEq. These results confirmed the continuity of high-grade mineralization and suggested further resource expansion opportunities.

Lee also highlighted Canterra’s competitive positioning, pointing out that the company trades at a relatively low enterprise value per pound of copper equivalent (US$0.018) compared to peers averaging US$0.115. This valuation, he indicated, provides significant upside potential as Canterra advances its portfolio. [OWNERSHIP_CHART-11220]

In a recent financing update from Caesars Report, the report stated that Canterra successfully raised CA$4.6 million through a combination of flow-through shares and hard-dollar units. The report acknowledged the challenging fundraising environment for junior exploration companies but emphasized Canterra’s ability to secure critical funding for its exploration programs.

The report noted that the exercise of outstanding warrants could further bolster the company’s financial position, ensuring it remains well-capitalized for ongoing and future projects.

Ownership and Share Structure

According to Refinitiv, 12.06% of Canterra Minerals is held by strategic investors. Of those, Buchans Resources Ltd owns 11.09%.

Management and Insiders hold 2.06%, with Andrew Fancomb holding the most at 1.46%. The rest is retail.

Canterra has 275 million free float shares and a market cap of CA$22.31 Million. Their52 week range is $CA0.04 – 0.16.

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Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: CTM:TSX.V;CTMCF:OTC,
)

1. Gold, silver see good gains on technical buying  Kitco NEWS
2. Gold Prices Seen Getting Boost From Asian Demand  Yahoo! Voices
3. Gold Advances After 27% Annual Gain as Traders Eye US Rate Path  Bloomberg

Rolex watch prices are through the roof this year. Thank surging gold costs  CNN

Rolex’s Gold Watches Just Got More Expensive  Robb Report