GSHR Webinar Summary: "The Road to Tier-One Status" Feeling quite bullish after hopping off the Goldshore Resources ($GSHR.v $GSHRF) webinar, "The Road to Tier-One Status: The Quest for 10M Oz"
CEO Brett Richards provided a solid overview of $GSHR and it's potential to create a tier one resource; the target criteria of which includes:
- 10M+ oz Au resource
- 10+ year LOM
- Average annual production of 500,000+ oz pa
- Lower half of cost curve ($900)
Starting with a 4M oz resource, $GSHR is well into a 100,000m drill program with 7-8 rigs operating by July and 8-10 operating by August. Notably, $GSHR has raised $50M in the last 18 months, which is quite rare for a junior to do, especially in such a difficult market.
$GSHR has a significant land package with the potential to support a much larger resource, with the Moss Lake PEA from 2013 showing the makings of a tier-one asset status
- 3M oz Au contained input
- 2.5M oz Au contained output
- 10 year mine life
- 250,000 ounces of production a year
- $922 per ounce of production cash cost
The key project economics from the Moss Lake Project show huge potential, especially with the price of gold trading between $1800 and $2200, giving $GSHR a possible after tax NPV of around $1B. Plus, $GSHR is trading at a huge discount when looking at comparable companies, demonstrating the investment and upside potential. With $20M in the bank, $GSHR has enough to keep them going past the point of the PEA .
The location of Moss Lake is ideal with extensive infrastructure for a district scale mining camp and significant lateral resource expansion potential. Notably, $GSHR is following its ESG plan an dis expected to have an exploration agreement signed this quarter.
Richards additionally walked through the results from the recent VTEM survey which revealed 29 undrilled high-priority targets and expanded prospectivity
- New targets will be drilled before the year
- Strike length expanded from 2.5km to 11km
- 3 different domains
- Mineralization hosted through diorite intrusions
- Distinct anomaly, IP and geophysical signature which revealed the same high levels of mineralization elsewhere along the property
- Significant potential to bring historic 3.5M oz into resource
- North Coldstream Copper Targets
$GSHR is planning to start the resource estimation update in Q4 of 2022 with the updated PEA in Q1/Q2 of 2023 in which they are hoping to partner with another company who has the balance sheet as well as the project, financial, construction and operation team needed for the project.
Richards touches on the current market and its challenges but emphasizes that it's only a matter of time before $GSHR's price to reflect the economics based on their potential with a huge resource.
$GSHR is hoping to have news releases put out every 3-4 weeks but can't guarantee this based on the turnaround time for the assay results, however, Richards states they are focusing on consistency & positive correlation to the historic resource and drilling as well as creating and realizing shareholder value.
Overall, this was quite an informative webinar and I'd highly recommend checking it out once the recording of it is made available as it provides a solid in-depth look into all things $GSHR and Moss Lake.