Borealis Mining (BOGO.v) WEBINAR SUMMARYBorealis Mining (BOGO.v) IPO & WEBINAR SUMMARY
Following its IPO on the TSXV yesterday, Borealis Mining (BOGO.v) hosted a webinar with Adelaide Capital Investor Relations, detailing its unique position in the market.
Well-positioned for growth, BOGO is distinguished from other junior miners as it has a permanent mine site capable of pouring gold on-site, with attractive exploration targets, open pit and leach mining.
Located in Nevada with a 100% owned, fully equipped mine ready for operations, BOGO's Borealis Gold Mine holds significant potential as it's largely underexplored.
Two-Year Plan:
- Drill to Expand Resource: as guided by the block model
- Exploration: Conduct exploration drilling near the resource and at new targets
- Optimize Metallurgy: using an on-site lab
- Optimize mining and refining operations
- Exploit Historical Resources: pending optimization studies.
- Prepare and Permit for Expansion: Targeting 100,000 ounces per year gold production.
Investment Highlights:
- Top-Rated Jurisdiction: Nevada is ranked the world's top mining jurisdiction by the Fraser Institute.
- 100% Ownership: The Borealis mine is fully equipped with necessary infrastructure.
- High-Grade Potential: Historical drilling indicates high-grade gold.
- Underexplored Property: No exploration since 2008.
- Strong Team: The company boasts an exceptional board, management team, and shareholder base.
Corporate Structure:
- Shares and Warrants: 83.22M common shares, with 28.475M escrowed shares (36 months), 13.448M escrowed shares (18 months), 16.001M warrants, and 1.123M broker warrants.
- Market Cap: Estimated at CAD $41.6M.
- Key Shareholders: Insiders, Rob McEwen, institutions, Eric Sprott
- Cash Balance: $5M in unrestricted cash, $4M in restricted cash (bonds), and $2M in inventory (ready-to-pour gold).
Board and Management:
- Praised as the "best board of directors" for a company of this size
- Board is dedicated to building BOGO into a notable entity in the mining sector
Borealis Project:
- Location: 25-minute drive from Hawthorne, Nevada; 2-hour drive from Reno.
- Infrastructure: Well-developed with electricity, water access, and year-round highway accessibility. Currently supports 60,000 ounces per year.
- Historical Production: Approximately 625,000 ounces at 1.77 g/t from 1981-1990 and minor production from 2011-2013 & 2021-2022.
- Resources: Historical M&I resource of 1.831M ounces Au at 1.28 g/t and an inferred resource of 195,000 ounces Au at 0.34 g/t.
- Permitted Mine: Ready for operations with historical resources
- Drilling Plans: 35,000 meters planned, with 13,000 meters completed using diamond drilling.
Exploration Potential:
- High-Grade Targets: Historical drill results indicate significant high-grade gold potential.
- Untapped Areas: Numerous undrilled high-grade grab sample targets and high-priority geophysical targets.
- Current Drilling: Approximately 3,500 meters being drilled.
Processing and Refining:
- Methods: Uses ADR (adsorption, desorption, and refining) plant for final dor production.
- Recent Activity: Gold pours completed in February, June, and August 2023 from residual leaching.
- Future Plans: Introduce cyanide to fresh ore and process a ~350,000-ton stockpile of oxide ore starting Summer 2024.
With a range of catalysts expected in the next three to four months including diamond drilling updates, RC results, production related news and gold pouring, BOGO stands as a unique opportunity as it targets becoming a mid-tier mining company within the next 5+ years through drilling and acquisition.
For more information, refer to this deep dive that highlights what sets BOGO apart from its peers:
https://www.reddit.com/r/Canadapennystocks/comments/1em1m66/gold_is_set_to_soar_the_case_for_leveraging_your/ Posted on Behalf of Borealis Mining Company Ltd.