There are hundreds of mining companies listed on the Canadian, London, and Australian stock exchanges.

95% of them are black holes. They raise capital to explore for minerals where the success rate is close to 1 in 3,000 and they usually aren’t very mindful of the costs, so they constantly beg shareholders for more.

5% of them have potential, but most are run and managed by mediocre management teams, which simply doesn’t cut it for me, personally.

In the decade of full-time resource investing that I’ve experienced since 2007, it’s become evident to me that unless you partner with the top 10 people in mining, you are essentially gambling with your money.

Today, the company is trading at around CAD$1.40, while analysts have given it a price target of CAD$4.50, which is conservative, considering they own 24 million ounces of NI 43-101 gold resources.

The market currently values them at $7/ounce, which is outrageous, and I can easily see this changing and correcting to the industry standard of $35, which will lead to a 500% move higher from today’s price, or CAD$7.00 per share.

This is especially true if Ray Dalio’s gold prediction comes to fruition and we see the spot price at new 52-week highs.