Don’t be surprised if one, or more, of these Canadian gold juniors receives a takeover offer during the current gold cycle
SmallCapPower | March 7, 2017: With Canada being a preferred jurisdiction for mineral exploration and development, it comes as no surprise that Canadian gold juniors have been sought after during the past few years. Given the recent gold price environment, though, smaller, higher-grade gold projects are getting taken over by companies such as Osisko Mining Inc. (TSX: OSK) and First Mining Finance Corp. (TSXV: FF). Today we’ve identified seven Canadian gold juniors, many of which have smaller, higher-grade gold projects, which could be acquired sometime during the current gold cycle.
Nighthawk Gold Corp. (TSXV: NHK) – Nighthawk’s Indin Lake Gold Property in the Northwest Territories has 2.1 million Inferred ounces @ 1.64 g/t gold. The Company has a market cap of about $130 million and approximately $38 million in working capital after recently closing $25.1 million in equity financings.
Pure Gold Mining Inc. (TSXV: PGM) – Pure Gold is developing the Madsen Gold Project in Red Lake, Ontario, with 928,000 Indicated ounces @ 8.93 g/t and 297,000 Inferred ounces @ 11.74 g/t. The Company has a market cap about $129 million and approximately $21.5 million in cash and securities.
Falco Resources Ltd. (TSXV: FPC) – Falco’s principal property is the Horne 5 project in Quebec, with an Indicated resource of 5,361,000 gold equivalent ounces, including 3,418,232 gold ounces averaging 2.86 g/t gold equivalent and Inferred Resource of 1,254,000 gold equivalent ounces, including 854,534 ounces of gold averaging 3.08 g/t gold equivalent. The Company has a market cap about $150 million and approximately $40 million in cash.
Eastmain Resources Inc. (TSX: ER) – Eastmain owns the Eau Claire and Eastmain Mine gold deposits in Quebec, with 951,000 Measured & Indicated gold ounces @ 4.1 g/t and 633,000 Inferred ounces @ 3.9 g/t. The Company has a market cap about $93 million and approximately $11 million in cash and securities.
Gowest Gold Ltd. (TSXV: GWA) – Gowest owns the North Timmins Gold Project near Timmins, Ontario, with for 277,000 Probable gold ounces @ 4.82 g/t, 422,000 Indicated ounces @ 6.2 g/t and 755,000 Inferred ounces @ 6.5 g/t. The Company has a market cap about $54 million.
Treasury Metals Inc. (TSX: TML) – Treasury Metals owns the Goliath Gold Project in northwestern Ontario, with 1.1 million Measured & Indicated gold ounces at 1.7 g/t and 330,000 Inferred ounces at 3 g/t. The Company has a market cap about $80 million and approximately $2 million in cash.
Aurvista Gold Corporation (TSXV: AVA) – Aurvista owns the Douay Gold Project in Quebec, with 4.4 million Inferred gold ounces at 1.06 g/t gold. The Company has a market cap about $55 million.