'First Look at a Permitted Heap-Leach Gold Mine in Nevada' First Look at a Permitted Heap-Leach Gold Mine in Nevada - TokStocks Podcast Interview with Kelly Malcolm, President & CEO of Borealis Mining (BOGO.v): https://www.youtube.com/watch?v=wt26qMFYNyY
With a path to grow into a mid-tier mining company, Borealis Mining (BOGO.v) is focused on Nevada-based gold production and development with current operations at a fully permitted mine with an ADR facility for gold bar production with revenue-generation through residual leaching and preparations for full-scale production.
Key Catalysts and Projects
- Short-Term Catalysts: Drilling results, gold production updates, and potential mergers and acquisitions.
- Main Project: Borealis Mine in Nevada with plans to crush and stack stockpiled ore in 2024 and resume full-scale production by 2025.
- Production Goals: Targeting smaller, low-cost operations for efficient free cash flow generation, with long-term plans to address sulfide mineralization.
- Exploration: Focused on confirming and expanding known gold zones, with a major regional exploration campaign planned for summer 2025.
Leadership and Background
- Kelly Malcolm: Transitioned from economics to geology after success in mining penny stocks. Notable achievements include gold discoveries at Detour Gold and leadership roles at AMEX Exploration.
- Management Team: Young, ambitious, and supported by seasoned mining veterans, including Rob McEwen and Bob Buchan, with experience building multi-asset gold producers.
Business Strategy
- Growth Through M&A: Emphasis on acquiring smaller-scale, high-margin assets in Nevada and surrounding regions. Aims to consolidate projects under a unified G&A structure to maximize profitability.
- Revenue Generation: Gold pouring ongoing; $1M USD in revenue reported for the fiscal year ending July 2023. Significant revenue growth anticipated with full production ramp-up.
Operational Highlights
- Permitting: Fully permitted for mining and heap leaching operations, including ADR facilities.
- Oxide vs. Sulfide Resource Potential: Current operations focus on oxide material for low-cost recovery. Sulfide resource offers long-term upside with plans to explore biooxidation or pressure oxidation technologies.
- Cap Table: 83.3M shares outstanding, 16M warrants at $0.75 CAD (expiring September 2025). Insider ownership at 14–15%, with Rob McEwen holding 16%.
Macro and Industry Outlook
- Gold Market: Management sees strong gold price trends driven by inflation and geopolitical uncertainty. Believes gold stocks have yet to catch up with rising gold prices.
- Operational Philosophy: Focus on all-in sustaining costs (AISC) to prioritize free cash flow and shareholder returns over raw production metrics.
Why Invest in Borealis Mining?
- Fully permitted, revenue-generating operation with near-term production growth.
- Strong management team with proven exploration and operational expertise.
- Strategic focus on scalable, high-margin assets in favorable jurisdictions.
- Clear growth trajectory through production, exploration, and M&A activities.
- Positioned to benefit from favorable macroeconomic trends in gold pricing.
To summarize, Kelly Malcolm emphasizes Borealis Mining's unique position as a revenue-generating junior miner with significant growth potential, driven by disciplined financial management, exploration upside, and strategic acquisitions.
Posted on Behalf of Borealis Mining Company Ltd.