|You wouldn't know it by the share prices, but Teuton Resources aka TUO and its JV partners today announced the discovery of a 4th gold deposit on their Treaty Creek property in the Golden Triangle of BC, with a headline assay of 1.30g/t AuEq over 53.9M within 155.5M of 0.82 g/t AuEq. This year's exploration is now complete and the camps have been closed, but there are still a number of assays pending which will give us a better picture of this new zone, which has been named Calm Before the Storm or CBS. The area was until recently cover by glaciers, and highlights the potential for even more discoveries as the melting, alas, continues.|
As we wait for the remaining assays, we can contemplate which the share price is so low. I sold some shares at double the current share price not so long ago, and there have been many positive developments since.
Sandstorm Gold Royalties aka SSL announced the long awaited results of the FBS on the Hod Maden gold/copper project in Turkey. (SSL holds a 30% net profits interest plus a 2% NSR.) The numbers look very good to me, delivering an NPV of over $1B and an IRR of 36% at copper and gold prices much lower than the current levels.
Their Turkish partner is processing apace. Permits have already been submitted and are expected to be granted by the middle of 2022, whereupon construction will begin aiming at first production in the second half of 2024. I still expect the net profits interest to be sold or converted into a larger NSR, but am glad to know that even if they don't , SSL's share of initial capex is estimated at only $32M.
FWIW, in response TD issued a new analyst report which calls the FBS results slightly positive but keeping SSL at Buy with a target of $12.50