Interview with Cal Everett, CEO, and Jon Gilligan, COO of Liberty Gold Corp.
Our previous interview: www.cruxinvest...
Recording date: 26th January 2024
Liberty Gold is focused on advancing its flagship Black Pine Gold Project located in mining-friendly Idaho, USA towards a potential production decision. Black Pine benefits from extensive local infrastructure and was previously operated as an open pit, heap leach mine in the 1990s.
Since acquiring the asset, Liberty Gold has undertaken over 200,000 meters of drilling to expand the existing oxide gold mineralization. An initial mineral resource estimate outlines 2.6 million oz indicated and 0.5 million oz inferred at average grades above 0.5 g/t gold. Metallurgical test work shows ~70% expected recoveries using simple heap leaching.
With extensive room for additional resource growth, Black Pine has clear tier-1 potential that could improve its appeal as a takeover target for mid-tier and major gold miners. The company believes the project has similarities to SSR Mining's Marigold operation.
Liberty Gold is advancing Black Pine on two parallel tracks - expanding resources through further drilling while simultaneously de-risking and permitting. The company remains on schedule to release a Pre-Feasibility Study in Q3 2024.
The PFS and subsequent permitting process are crucial catalysts for the project in 2024. Submitting a Plan of Operations is expected to launch a 2-3 year permitting period after which the project may be "shovel-ready" for development.
With a cash balance exceeding current burn rates, Liberty Gold is fully funded to complete the PFS. Additional funding will be required to continue aggressive expansion drilling starting H2 2024.
The company has several options to raise capital including selling its earlier stage TV Tower project in Türkiye, private equity placements, investments from major miners, and royalty financing. Liberty Gold's CEO has extensive capital markets experience to navigate markets.
Liberty Gold offers exposure to a large, open-pit project in a top-tier jurisdiction within a rising gold price environment. With exploration upside and engineering de-risking activities underway, these upcoming milestones in 2024 could catalyze a re-rating in the stock valuation.
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10 сен 2024
