By Jeb
Gold is correcting now but may be on the verge of a major breakout at
$1400 later this year. Gold could be in a 5 year base just getting ready to move.
The major producers are running out of reserves
and production has peaked and is now declining.
I expect a major move into gold by the end of this decade when the major producers face a huge shortfall.
Even Goldcorp’s $GG Ian Telfer was quoted yesterday in an interview with Kitco entitled,
“We Are Running Out of Gold“
Maybe they should look right in their own backyard in Ontario.
For years I have been following an extremely high grade gold deposit in
Ontario Canada completely overlooked by the retail investor and the major
producers. The asset was top notch but the company was missing top level
mine building management and the ability to market into the USA.
Those two factors have now changed in that Treasury Metals $TML.TO $TSRMF
is now listed on the OTCQX in the USA under TSRMF and they now have a new
CEO who has just come off a major turnaround win at Kirkland Lake. This
mine in Ontario was pretty much on the verge of bankruptcy when Chris
Stewart came in 2014 bleeding money for 13 straight quarters.
Chris Stewart came in and turned the mine around starting to generate
positive cash flow and the market cap soared all because of exceptional
high grade mine engineering.
Chris Stewart is to mine engineers as “Tom Petty” was to songwriters.
Chris took Kirkland Lake from being flat on its back almost broke to a
billion dollar plus market cap.
Chris left Kirkland Lake and has transitioned into the CEO role of Treasury
Metals $TML.TO $TSRMF which has been one of my undiscovered favorites for
years. However, I doubt it will be ignored for too much longer as Chris is
working on an advanced Feasibility Study and started a 30k M drilling
campaign. Results just started coming out and they are impressive expanding project.
Chris Stewart, President and Chief Executive Officer, commented on the news: “After completion of the current infill drilling program in the Main Zone resource area, this East Resource Target will become an area of focus with plans to drill test down dip and along strike to further delineate this exciting target. The additional drilling in this zone has the potential to add near surface mineral resources which may potentially extend the mine life and/or increase production rates from the underground when compared to the proposed mining schedule in the 2017 PEA.”
Even more exciting Treasury now has a US listing $TSRMF and will be focused
on investor outreach to the USA for the first time. I believe their
Goliath Project outside Dryden, Ontario could move into production by 2020
and possibly perform even better than Rainy River which was bought out by
New Gold.
Although Goliath doesn’t look as big as Rainy River, it could be more
economic. There are very few projects like Treasury’s Goliath Project in
Source:: Gold Stock Trades.com
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