DBG Surges 144% YTD on Qatar Collaboration and Record Gold-Copper Prices

*This report and research coverage is paid for and commissioned by Doubleview Gold Corp. – See the bottom of this report for other important disclosures rating, and risk definitions. All figures in C$ unless otherwise specified.

Sector: Basic Materials | Industry: Other Industrial Metals & Mining

Ticker Symbols:DBLVF – NASDAQ DBG.V – NEO 

Rating and Key Data

Buy

Report Highlights

• DBG has surged 145% since our last report in December 2024, fueled by company-specific developments, and record copper-gold prices.
• The company is in discussions with a Qatari firm to explore potential collaboration and strategic financing from the State of Qatar, and/or other Arab nations, for its flagship Hat project.
• The Hat project, located in B.C.’s Golden Triangle, hosts an open-pittable polymetallic porphyry deposit, with resources totaling 5 Blbs of CuEq at 0.36%. Based on spot prices, copper accounts for 53% of resources, followed by gold (39%), cobalt (7%), and silver (1%).
• This is a large copper-gold deposit, distinguished by the rare presence of scandium and cobalt, which is uncommon in North American porphyry projects. We believe this provides a significant advantage for the Hat project, as these by-products can add substantial value, especially given their status as critical minerals in the U.S., Canada, and the EU.
• Recent drilling returned high-grade intercepts over long intervals, underscoring the potential for resource expansion with higher-grade material. Key results include 107 m of 1.42% CuEq, 122 m of 1.34%, and 154 m of 1.07%. These exceptionally high-grade intercepts suggest proximity to the core of the porphyry system. As a result, we are now using 100% of both indicated and inferred resources for valuation, up from 100% of indicated and 50% of inferred previously.
• Management aims to complete a resource update/Preliminary Economic Assessment (PEA) in the coming months.

• DBG is trading at $20/oz vs the sector average of $46/oz, a 57% discount.
• With gold and copper trading at record highs, we anticipate an increase in M&A activity over the next 12 months, as larger companies target juniors to expand their portfolios. We remain bullish on near-term prices due to escalating geopolitical and trade war risks. Upcoming catalysts include drill results, resource update/PEA, and potential M&A/strategic financing.
• The B.C. government’s recent announcement to fast-track approvals for several copper-gold projects, as a strategic response to a potential trade war with the U.S., is a highly positive signal for juniors such as DBG. Additionally, we believe Canada’s reversal of a previously proposed capital gains tax increase will likely boost the appeal of resource sector investments and attract new capital inflows