Providence Gold Mines Inc V.PHD

Providence Gold – Realistic Perspective

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Realistic Perspective Instead of Doom and Gloom

I’ll be honest — I was skeptical about PHD at first, too. But that was mostly because I didn’t have enough background knowledge.

Over the Easter holidays and up until yesterday, I took the time to really dig into the company — reviewing past news releases, technical data, independent reports, and regulatory filings. What I found changed my perspective significantly.

Some of the recent posts (e.g. from KozmoT) sound very final – but the reality is far more nuanced. Here are a few key facts to help readers form a more balanced view:domi



1. “No project left” – It’s not that simple.

Providence still has access to the historical mines because they are patented claims – meaning privately held land with mineral rights. This is a major difference compared to leased state land or exploration permits. The Providence Group of Mines includes:
• McCarthy
• Mexican
• Providence
• Bonita
• Fair Play
• Consuelo
• Good Enough

The lease that expired only covered specific operational access, not ownership. The company has clearly stated they are working to negotiate a new lease, potentially with better terms. There’s been no indication that access to the property is permanently lost.



2. “Why not just pay the $25,000?” – Easier said than done.

Sure, $25k CAD doesn’t sound like much. But anyone familiar with junior exploration knows:
It only makes sense to pay if you can also execute an exploration program. Without funding and a clear strategy, that would just be “money to stand still.”

Now, with gold at over $3,400/oz, the economics for both parties have likely changed – and a new agreement may carry more strategic value.



3. “No financing = dead stock?”

It’s true the financing was extended several times – but it was never canceled. That’s not uncommon for juniors, especially given the tough capital markets in 2023/24.

However, the May 6, 2024 news release clearly outlines an active plan:
• Targeted 4,000 m HQ drilling
• Focus on high-grade zones (up to 97 g/t Au samples)
• A team led by experienced geologists with decades in the California Gold Belt



4. Historical value + current strategy

According to the Feb 25, 2025 update, Providence controls:
• 7 historic high-grade gold mines on patented land
• An estimated gold potential of 1–4 million ounces
• Gold-bearing stockpiles offering near-term processing potential
• Modern exploration tech (3D LIDAR, geochemistry, trenching)

The Mother Lode region itself has produced over 128 million ounces of gold historically – Providence is still sitting on prime ground.



Conclusion:

Yes – the company is at a turning point. But “no cash = dead” is too simplistic.
• They still control their core land package
• Gold is at record levels
• Active exploration is planned
• Financing is still in progress
• A new lease agreement is being pursued

Anyone ignoring all this is missing the real picture. There’s still a possible turnaround here – not just an ending.