Lode Gold currently has projects in 3 geographic regions: California, USA, where the Fremont (3,351 acres) project is located, the Yukon Territory, Canada, with Golden Culvert and WIN (22,240 acres), as well as New Brunswick, Canada, with Mcintyre Brook & Riley Brook (109,962 acres). The company will spin out the non-Californian assets into a separate company called Orogen Gold in the near future. Post-money valuations are pegged at $7 million for Lode Gold and $ 15 million for Orogen Gold. Maps showing the locations of projects in 3 geographic areas.
Investment Highlights
- Lode Gold (“LOD”, or “Company”) is a gold development and exploration company focused on its flagship Fremont asset in California, USA, a former producing gold mine with a recently updated mineral resource estimate. Additionally, the firm will spin out its non-Californian assets into a new company called Orogen Gold.
- Fremont’s future promise: The recent MRE outlined a global resource of 8.53 million tons averaging 3.96 g/t gold with over 1 million ounces of contained gold. LOD is pursuing a clever strategy to develop only an underground mine without any heap leaching, which should speed up the permitting and development process
- Potential for near-term production: The firm plans to start a pilot plant by 2027/2028 as part of the development process, which would bring forward cash flow (US$35-53 million with 10-15koz Au annually) and support the development budget.
- Supportive macro and geopolitical environment: Gold is trading around all-time highs due to global geopolitical and economic uncertainty. Additionally, with gold added to the critical minerals list in the US, the project should also benefit from government support.
- Experienced management: The team at LOD is well versed in moving exploration and mining projects forward to generate shareholder value and bring the required expertise and industry network to the company.
- We are maintaining a positive outlook for the company over the next 12-24 months period with a target price of $ 0.39
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