North Peak Resources (TSXV: NPR) owes no milestone payments to the previous owner of the Prospect Mountain Mine Complex.
The deal that Paycore Minerals signed with Waterton for the FAD Project, which now applies to i-80 Gold includes large milestone payments that Paycore owed to Waterton in the future: the greater of US$7.5 million cash or US$7.50 per oz of gold resources at the time of a resource estimate, the greater of US$7.5 million cash or US$7.50 per oz of gold resources at the time of an economic study, and the greater of US$7.5 million cash or US$7.50 per oz of gold resources at the time that development begins.
Is it possible that the past producing Diamond Mine on NPR's property is the only past producing gold mine in the district along the Jackson fault not to contain Carbonate Replacement Deposits (CRDs) at depth with extremely high grades of gold, silver, lead, zinc?
The anomalies that NPR discovered this summer are located right where the sulfide mineralization is expected to begin based on the discoveries made at FAD and Hilltop.
Historically about 1/3 of the Eureka CRD district's production came from NPR's Prospect Mountain and 2/3 came from the Ruby Hill properties owned by i-80 Gold.
Therefore, we are not saying NPR definitely goes to a $500 million+ market cap like i-80 Gold, but NPR could realistically be worth $200 million very soon.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 60,000 shares of NPR in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.