(TSX: GRC - OTCQB: GRCAF)
1. Goldsprings is located in Nevada/Utah (USA) one of the best mining jurisdictions in the World
- Low political, environmental, and tax risks.
- A large gold region with an annual production of nearly 5 million ounces from major mining companies like Barrick, Newmont, Kinross, Coeur.
- All necessary infrastructures already exist (railways, power lines, water).
2. Goldsprings is a large project with significant growth potential
- Large property of nearly 8,000 ha.
- 4 historical high-grade gold mining districts (active until the mid-20th century).
- 33 targets of which 4 have resources have an existing total of 874’000 oz gold equivalent (766,000 M&I + 108,000 Inferred) open to expansion and 29 have significant potential.
- The Ongoing 2022 Drilling Program of 20’100 Meters RC and 2’000 Meters Core has for Objective to expand our 4 existing resources especially at “North Jumbo” and “South Jumbo”, To drill on the 4 significant discoveries at “Tremor”, “Charlie Ross”, “White Point” and “Homestake”, To drill on 5 new targets (“Midnight”, “Pope”, “Red Light”, “Snow” and “Horseshoe Extension”).
- The management and the board hold 21.4% of the shares (they bought them at market price) and the majority of shareholder groups have invested in the company for many years, as they all believe in the significant potential of this large gold project.
3. Goldsprings is a strong economical viable project
- NPV of $200 million (2020 PEA with 5% after-tax and $1,600 gold price per oz).
- Low Capex of $83.5 million.
- Low All-In Sustaining Cost (AISC) of $837 per ounce of gold produced, as the resources are near the surface and are Heap leachable (low in comparison with some Nevada’ Mines AISC: Coeur $1,251, Kinross $983, Newmont $925).
4. Goldsprings Resource Corp has a strong financial situation
- No debt.
- Low annual administrative expenses.