The next Great Bear Resources? coverage Will Straightup Resources Inc. become the next Great Bear Resources?
Article source https://miningmarketwatch.net/st.htm
Valuation Commentary: Straightup Resources Inc. (CSE: ST) is a new public company focused on advancing its flagship RLX and Belanger properties located in the Red Lake District of Ontario, Canada. Red Lake is one of the more prolific gold mining districts in the world with ~29 million oz gold having been produced from high-grade mines since 1925, >80% of this gold was produced from Evolution Mining's Red Lake Complex (formerly owned by Newmont). Today some of the most exciting exploration projects are ongoing in the district; e.g. Great Bear Resources is working its Dixie project just to the south of Straightup Resources' RLX Property, and Pure Gold Mining Resources is advancing to production for the end of this year.
Two years ago Great Bear was trading at ~50 cents/share, it has since experienced a >38X multiple share price appreciation. Obviously there are some really smart people over at Great Bear, they have a track record of being able to look at the big picture of what is going on geologically in the Red Lake District and predict where huge deposits of gold might occur. In 2019 Great Bear acquired additional ground it believed to be highly prospective, of particular note is its Sobel property which is almost entirely encircled by Straight Up Resources' RLX property. The RLX property of Straightup Resources is prime ground that was staked prior to Great Bear announcing its Sobel acquisition by the entity that vended both the RLX and Belanger properties into the new public company.
In short, Straightup Resources is considered to have highly favorable geology for a major gold discovery of significance in a prime Red Lake District location.
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