One week ago, NIA sent out an alert explaining, "Both Augusta Gold (TSX: G) and Dakota Gold (DC) have former Barrick owned gold properties. The only other company with a former Barrick owned gold exploration project is Skeena Resources (SKE), which has a significantly higher market cap than G and DC. SKE has no chance of receiving permitting to bring Eskay Creek back into production as an open pit gold mine. If SKE's Eskay Creek did have potential to be redeveloped as an open pit gold mine, Augusta Gold (TSX: G)'s Executive Chairman Billionaire Richard Warke would have jumped at the chance to acquire it years ago considering that his mentor from early in his career financed the early exploration/development of Eskay Creek, allowing for it to become the world's highest grade producing underground gold mine from 1994 through 2008 during which time Eskay Creek produced 3.3 million oz of gold. Richard Warke chose to acquire Bullfrog instead because not only did it produce 2.3 million oz of gold, but Bullfrog has a 100% chance of going back into production. Both G and DC are likely to surpass the market cap of SKE in 2024."
Not surprising at all to NIA members: Augusta Gold (TSX: G) gained by 4.76% last week as Dakota Gold (DC) gained by 2.67% and Skeena Resources (SKE) declined by 11.35%.
Even if SKE somehow does receive permitting in the future to redevelop Eskay Creek as an open pit gold mine, SKE in a best-case scenario will be forced to go through a seven-year permitting process of dealing with the pesky indigenous people. Back when Richard Warke's mentor (who ran all of Vancouver during the heyday of the Vancouver Stock Exchange) successfully advanced Eskay Creek into becoming the world's highest-grade gold mine averaging bonanza grades of 45 g/t gold, it was a tiny underground mine without any disturbance on the surface. SKE's 3.3 million oz gold reserve at Eskay Creek has average grades of only 2.6 g/t gold and would only be economical as an open pit gold mine, which the Alaska First Nations is strongly opposed to because it would destroy their rivers and kill one of the last wild salmon habitats remaining in the world.
Even after SKE declined by 11.35% last week, it continues to have a market cap of US$411.352 million for a company that will see nothing positive happen in the next seven years and will most likely never receive permitting at all!
Augusta Gold (TSX: G)'s Reward Gold Project is already fully permitted and can be constructed immediately! G's Bullfrog Gold Project previously produced 2.3 million oz of gold as an open pit gold mine, so the permitting process of reopening Bullfrog is easy, straightforward, and fast!
Augusta Gold (TSX: G)'s market cap is only US$69.21 million or 1/6th of SKE! G has a total of 1.92 million oz of gold resources in the Beatty Gold District, which will receive all of the big media coverage moving forward as America's #1 largest new gold development of the decade. 95%+ of G's gold resources are oxide gold for low-cost heap leaching!
By the BLM deciding this month that it will reroute the Las Vegas Greenlink West transmission line so that it goes around the Beatty Gold District Mining Projects, it means the BLM intends to approve its development! When AngloGold Ashanti (AU) receives permitting to begin constructing the North Bullfrog Gold Mine early next year, it will likely create a bidding war to acquire Augusta Gold (TSX: G)!
Dakota Gold (DC)'s market cap is only US$270.142 million and will likely surpass SKE's market cap within weeks.
DC's Co-Chair Robert Quartermain previously founded Pretium Resources and successfully developed the Brucejack Mine, which is located near Eskay Creek and is currently the highest-grade producing underground gold mine in British Columbia. Pretium got acquired by Newcrest for US$2.8 billion, and Newcrest has since been acquired by Newmont!
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. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. NIA has received compensation from DC of US$30,000 cash for a three-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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