Cartier Resources
Our second noteworthy gold miner, Cartier Resources, market capitalization C$38.28 million, is active in Val-d’Or, Quebec, where its flagship Cadillac project boasts resources estimated at 720,000 ounces indicated and 1,633,000 ounces inferred, representing over US$7.5 billion in gold in the ground.
Cadillac’s 2023 preliminary economic assessment details a post-tax net present value (NPV) (5 per cent) of C$388 million and annual production of 116,900 ounces over 9.7 years at a gold price of US$1,750 per ounce. The price at the time of writing on May 1st, for your reference, is a significantly larger US$3,222.64 per ounce.
Cadillac yielded 10 new gold zones discovered during the 2024 drilling campaign, making management confident in delivering further resource growth in 2025.
Cartier also offers investors exposure to three earlier-stage properties – Wilson, Fenton and Benoist – that contain 17 prospective gold zones between them backed by extensive past exploration.
The portfolio’s considerable upside is de-risked by a long-tenured leadership team with a diverse background in exploration, operations and financing, in addition to:
- A 27.2 per cent investment from major producer Agnico Eagle, a 2.9 per cent position by Caisse de dpt et placement du Qubec, as well as 4.8 per cent institutional ownership.
- C$11.2 million in cash as of April 2025.
- Continued geopolitical tension spurred on by US President Trump’s headstrong, unpredictable approach to governance, fostering gold’s role as a safe-haven asset.
Down by 34.38 per cent since 2020 and flat since 2015, Cartier Resources stock (TSXV:ECR) allows you to own a piece of the gold miner’s multi-million-ounce resource, as well as numerous exploration vectors to the upside, with no market recognition priced in. Shares last traded at C$0.10.
Philippe Cloutier, Cartier Resources’ director, president and chief executive officer, spoke with Stockhouse’s Lyndsay Malchuk about a newly closed financing and upcoming drilling. Watch the interview here.