Treasury Metals on the way to a joint PEA for Goliath and Goldlund

In good M&A transactions, one and one ideally gives more than the sum of two. That wants Treasury Metals (TSX: TML; FRA: TRC1) with a preliminary profitability calculation (PEA) for the two neighboring gold projects Goldlund and Goliath in Ontario.

The Goldlund project originally came from the portfolio of a subsidiary of First Mining (TSX: FF). In August of this year, Treasury Metals acquired this subsidiary in return for the issue of Treasury shares from First Mining. Combining Goldlund with Treasury Metals’ adjacent Goliath gold project has created a multi-million-ounce gold project.

Treasury has selected Ausenco Engineering Canada (“Ausenco”) as the primary advisor to the PEA. The study is expected to be completed at the beginning of the first quarter of 2021. Both projects together already have around 2 million ounces of gold measured and indicated. The PEA is intended to underline that the two projects can be sensibly combined and that with a combined production of more than 100,000 ounces per year, a mine life of more than 12 years.

Consolidation of projects for more efficiency

Goliath has a federal environmental permit for a mine and a processing plant. The site is 3,000 meters from the Trans-Canada Highway and rail corridors, 200 meters from a 115/230 kVa power line, and 20 kilometers from the city of Dryden. The recently acquired Goldlund project is located approximately 35 kilometers from Goliath, 27 kilometers of which are on a developed provincial road. Specifically, the PEA is designed to demonstrate the benefit of world class infrastructure to the cost and schedule of mine development.

Risk notice: GOLDINVEST Consulting GmbH publishes comments, analyzes and news on This content serves exclusively to inform the reader and does not represent any kind of call for action, neither explicitly nor implicitly are they to be understood as a guarantee of possible price developments. Furthermore, they are in no way a substitute for individual, expert investment advice and represent neither an offer to sell the stock (s) in question nor an invitation to buy or sell securities. This is expressly not a financial analysis, but a promotional one / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information provided here act entirely at their own risk. There is no contractual relationship between GOLDINVEST Consulting GmbH and its readers or the users of its offers, as our information only relates to the company, but not to the reader’s investment decision.

The acquisition of securities involves high risks that can lead to the total loss of the capital invested. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research, but any liability for financial losses or the content guarantee for the topicality, correctness, appropriateness and completeness of the articles offered here is expressly excluded. Please take note of our Terms of Use.

In accordance with Section 34b WpHG and Section 48f (5) BörseG (Austria), we would like to point out that GOLDINVEST Consulting GmbH and / or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Treasury Metals and that there is therefore a conflict of interest. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by Treasury Metals for reporting on the company. This is another clear conflict of interest.

Note: PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section. PERSONAL-FINANCIAL.COM AG is not responsible for content that is recognizable as being posted by third parties in the “News” area of ​​this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” label below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.

Related Articles

Back to top button