OVERVIEW
P2 Gold currently has two projects in its portfolio, the Gabbs and the BAM projects. The flagship Gabbs project in Nevada has a recent, updated preliminary economic assessment (PEA) based on a measured and indicated resource of 1.16 million ounces of Au Eq and an inferred resource of 2.29 million ounces of AuEq. The resource contains gold, silver and copper and the project is the current focus for P2 Gold. The BAM project in British Columbia is an early-stage exploration project in BC’s prolific Golden Triangle with 54 claims covering 18,893 hectares and which was acquired in March of 2023.
The company’s goal is to advance the Gabbs project towards production by leveraging the expertise of the experienced management team, which was directly involved in the discovery and development of the operational Brucejack Mine in BC, Canada. Key members of the management team have thus been involved in the discovery and exploration of a deposit and led their company to successfully develop it, which gives them a solid track record and invaluable experience to hopefully repeat their past success. The aim of the company is to build a mine at Gabbs that will produce gold doré and copper concentrate from two separate processing lines and operate for around 15 years given the current mine plan. The total life of mine (LOM) AuEq production estimate is currently pegged at 2.46 million ounces.
Investment highlights
- P2 Gold (“PGLD” or “Company”) is advancing its flagship multi-million AuEq ounce Gabb’s Project in Nevada, USA, one of the world’s most favorable mining jurisdictions.
- Existing Resources: The company has a gold resource on its flagship Gabbs project in NV, USA, which boasts 1.2 million ounces AuEq in the indicated category and over 2.1 million of AuEq in the inferred category.
- Preliminary Economic Assessment (PEA): The 2024 PEA outlines the development of an open pit mine at Gabb’s. While the project already looks robust, the management team is implementing a number of measures that should substantially improve project economics.
- Experienced Management Team: The team at PGLD brings the relevant expertise to the company with a demonstrated track record of advancing projects from exploration through development into production.
- Substantial Balance Sheet Improvement: Through an agreement reached with creditor Waterton Nevada Splitter the company was able to substantially reduce its debt position, bolstering the balance sheet
- We are initiating coverage with a positive outlook for the company over the next 12-24 months with a target price of $0.37.
