Are Golden Metal Resources about to hit the Jackpot in Nevada?
“…Nevada is the top place in the world to explore and develop. Golden Metal Resources hosts the largest known, undeveloped, tungsten resource in the US. With tungsten on the US’s critical minerals list there’s grants out there for explorers…”
While Nevada is known for Las Vegas and it’s drive thru wedding chapels with Elvis impersonators, the U.S. state is also known for its gold and silver mines old and new.
Chief Executive Oliver Friesen has lived in Nevada and worked for gold and copper producer Barrick Gold, so has credentials and credibility. “There’s 12.53 million tonnes at 0.27% tungsten trioxide. There’s also significant copper, silver, zinc credits, as well as garnet. So when you actually take a tungsten equivalent value it’s much higher than the 0.27% tungsten trackside head grade.”
His geological lexicon may bamboozle some, but the company will be talking about the precious stone garnet a lot more to the market as well as the upside exploration potential of Pilot which already has an offtake letter of intent in place.
Friesen says with multiple assets in the welcoming mining jurisdiction U.K. investors have exposure to the “top place in the world to explore and develop.”
In addition to two ‘high net worths’, the other significant shareholder is well known AIM explorer Power Metal Resources which owns 61% of the stock leaving a free float of 29%. Friesen describes this structure as one of the better capital structures in the sector as it reduces overhang while benefitting from the hands off and symbiotic support Power Metals gives.
Watch Oliver talk to Sarah Lowther about the other assets in the company’s portfolio and his ultimate ambition. “We want to make money. We want to our shareholders make money. It’s as simple as that.” Much has been achieved since this company’s IPO in May.
Read the company’s corporate presentation
Follow the company on Twitter @GoldenMetalRes
The author was remunerated but does not hold shares in the company