Opinions
John Kaiser
Midas Gold
MAX-T
WATCH
Mar 06, 2017
$0.760
Stock price when the opinion was issued
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COMMENT
One of the best deposits in the US. 7,000,000 ounces at about 1.7 g plus an antimony (?) kicker with it. A fantastic deposit. There is a lot of questions as to whether it gets permitted or not but he thinks permitting goes ahead. Getting hammered by funds redemptions. Tempted to buy this again.
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COMMENT
Probably some of the best undeveloped deposits in the US. Nice grade, big, multimillion ounce with a bit of antimony kicker. If you are looking for something with leverage to the gold price, this is probably it. The drawback is that it is a big CapX of probably $700 million plus to build, and is a long permitting process.
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COMMENT
They're in Idaho which takes time to permit, though it's good geopolitcally. Has a good grade for an open pit, 1.7 grams. The metallurgy, though, is a slight issue--can they find enough capital? Barrick has made a major investment under the old CEO in early-2018, so where does it fit under the new CEO? Their annual production could top 300,000 ounces a year. Brent Cook: The permit process is moving ahead slowly. It's one of the few better deposits in the US not owned by a major.
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They are going to mine both gold and antimony on a decommissioned site, but it only works at $1600 gold. They are raising money, permitting and drilling, but will anything get permitted in Idaho with Trump’s anti-globalization policies. Antimony mostly comes from China.