A Golden Opportunity or A Gold Rush Amid a Bearish Market?
We at Peterson Capital are always looking for the next great opportunity. We follow the markets closely and while there have been a lot of downs recently there have been bright spots. We wanted to share what You Should Know about some exciting projects which Peterson Capital clients are involved. Here are two featured companies working at opposite ends of the world that we want you to know about.
A recent gold mining discovery may resent a timely opportunity or investors eyeing the sector. The discovery comes in contrast to the falling gold price, which hit a new 11-month low last week as investor concerns about inflation kept downward pressure on the commodity. These market conditions could create a potential value-add opportunity for investors who know where to look,
An estimated 31 million ore deposits valued at over USD$12 trillion were recently found in Uganda following two years of aerial exploration and a series of geochemical and geophysical surveys. The Ugandan government confirmed it was the largest gold deposit so far quantified in the country and that it will be a significant boost to the economy, creating an estimated 3,000 mining jobs.
This news comes on the heels of another gold mining success in neighboring Tanzania, where mining company TRX GOLD Corp (NYSE: TRX - Mtk Cap C$107.3M) is rapidly advancing the Buckreef Gold Project. In a quarterly record, it recently produced 2,733 ounces of gold from its mine.
TRX Gold's actions are not only held to the highest ESG standards but with a 90% plus gold recovery to date, its operational success is evident. As the company plans for rapid production growth, the positive cash flow is expected to continue its upward trend.
Volatility, risk, and uncertainty are always to be expected in any industry but we're watching how recent success by companies like TRX Gold could re-spark investor interest in the gold sector.
Western Alaska Minerals (TSX.V-WAM, Mtk. Cap C$73.3M)
Western Alaska has been actively working its property in Alaska located on stable jurisdictional lands and possesses a Tier- 1 discovery track record and announced some significant results on July 20, 2022. Click HERE for the release. A consolidated land package that hosts five deposits, Western Alaska has conducted the first exploration in this area in 20 years.
A well-defined list of “Next Steps” for this year includes resources expansion, management of operating costs, and sampling newly acquired claims, the company is very focused and hitting all of its objectives while proving scalability.
Yesterday Western Alaska announced the visual observations of the Intercepted 47 and 101.7 Meters of Massive Sulfide Replacement Mineralization in Drill Holes WPC22-17 and 18. One of the standouts in the release was the 9.1n/186 g/tAgEq 250 meters south.
The 101.7-meter intercept in WPC22-18 was drilled another 50 meters south of WPC22-17 and is the thickest to date at the Waterpump Creek deposit. While true thickness of the WPC22-18 intercept is not determinable at this time it is believed to be an exceptionally long interval may indicate high-angle chimney-style mineralization linking the manto-form mineralization encountered previously. The news impacted the market positively with the stock moving from C$1.80 to C$4.45 within two days.
Actively involved in the community in which they work we believe this is a story to follow. Currently, the company has 46.4M shares I&O (fully diluted) and is covered by Michael Gray at Agentis Capital. Click HERE to learn more
If you'd like to arrange a short call with the Western Alaska team, please let us know we'd be happy to set it up for you.
Western Alaska Core Sample
For more information on promising opportunities in the mining sector, and how your business could be involved, click HERE .
Thank you for your continued interest and support.
Rick Peterson
Chair