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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: LoneClone11/2/2021 12:26:36 PM
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Here's some interesting news for those who hold shares in any of the JV partners on the Treaty Creek gold project in BC's Golden Triangle, being explored by Teuton Resources aka TUO, Tudor Gold aka TUD, and American Creek aka AMK. Seabridge Gold aka SEA has announced that they are going to integrate the Snowfield deposit into their KSM project, which is being advanced into final feasibility status.

Why is this important for the Treaty Creek JV partners? It's because Treaty Creek adjoins the KSM property nor far from Snowfield, making the SEA a leading candidate for the inevitable buyout. (The JV partners have no intention of actually developing Treaty Creek; their expertise lies in exploration and drilling up resources, not actual mining.)

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Very useful map of Treaty Creek/KSM/Snowfields area

Meanwhile, Nomad Royalties aka NSR announced a major transaction involving the Hardrock gold mine in Ontario being built by Equinox Gold and Orion Mine Finance. Ground was broken on the construction of this mine a few days ago.

NSR is paying $95M up front for 5.938% of gold production attributed to Orion’s 40% interest until 120,333 ounces have been delivered, and 3.958% thereafter. NSR will also pay 20% of the spot gold price per ounce delivered, plus something I hadn't seen before in a streaming agreement, a $30/oz payment to support ESG programmes involving Hardrock.

It is expected most of the upfront payments will be drawn from their revolver credit deal, which will still have plenty of room left if another deal comes along. Speaking of which, it t is also worth noting that Orion is NSR's major shareholder, so it is likely more similar deals can be negotiated between the two parties.

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FWIW, in an analyst report, BMO ran the numbers and saw them as positive based on their assumptions on the price of gold, plus potential exploration and production upside from other deposits at Hardrock. They maintained NSR at Outperform with a $16 target.

Northern Shield Resources aka NRN released a placeholder of a PR saying, yep, we're still drilling on our Root & Cellar Ag/Au/Cu property in Newfoundland and seeing plenty of cool mineralization, but we haven't received any assay results yer.

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