Summary of BOGO on RedCloud's Research Roundup Detailed Summary from Borealis Mining (BOGO.v) feature on Research Roundup Podcast - Red Cloud TV - Path to Restarting High Grade Gold Production
Research Roundup Podcast - Red Cloud TV on Borealis Mining (BOGO.v)
In addition to its recent coverage initiation, Red Cloud TV highlighted Borealis Mining's (BOGO.v) unique opportunity on its Research Roundup Podcast, detailing the latest exciting news and high-grade gold results: https://www.youtube.com/watch?v=YHL7stjIh_k
Company Background
- Acquired the Borealis Mine in Nevada, a historic producer of 600,000 ounces of gold, in April 2023.
- Fully permitted with existing infrastructure, including a heap leach facility, roads, and lined pads, enabling a fast-track restart.
- RedCloud initiated coverage with a buy rating and C$1.20/sh target price
Recent Developments
- Announced acquisition of Gold Bull Resources in a share deal, adding the Sandman property in Nevada.
- Sandman offers 433,000 ounces of measured and indicated resources, complementing BOGO's current high-grade sulfide and oxide resources.
Key Assets and Potential
- Borealis Mine: Contains 500,000 ounces of oxide gold in measured and indicated resources and 1.3 million ounces of sulfide material.
- Recent drill results show high grades (e.g., 35m at 10 g/t and 42m at 11 g/t).
- Plans include residual leaching, potential near-term production, and exploration to update resource estimates.
- Sandman Project: A low-sulfidation epithermal gold system with potential for heap leach processing, expected to produce 300,000 ounces over 10 years.
Strategic Outlook
- Aim to establish a hub-and-spoke mining model, leveraging the combined assets for efficient operations.
- Led by an experienced team, including industry veterans from Kirkland Lake and Kinross, and supported by prominent investors.
- Near-term plans include resource updates, drilling campaigns, and advancing permitting to achieve production by 2027.
Financial Projections
- Combined operations expected to produce over 600,000 ounces of gold at all-in sustaining costs of $1,500-$1,600/oz.
- Startup capital for Borealis Mine estimated at $34 million, with a projected after-tax NPV of $234 million.
Combining fully permitted projects with strategic acquisitions, BOGO is creating long-term value for investors, benefitting from strong gold market fundamentals and significant exploration potential.
For more information, refer to this breakdown of RedCloud's Coverage Initiation: https://x.com/StckMasterFlash/status/1879222592982204570
Posted on Behalf of Borealis Mining Company Ltd.