CEO Frank Basa Outlines Plans and Funding Options for the “Significantly Undervalued” Granada Gold Deposit in Quebec
Granada Gold Mine Inc. CEO Frank Basa outlined his current plans and funding options for the fully permitted Granada Gold Deposit in Quebec to Crux Investor’s Matthew Gordon in an October 31, 2024 video interview.
Matthew concludes in his summary published with the video:
“In conclusion, Granada Gold Mines presents an opportunity to invest in an undervalued gold developer with a clear path to production, significant exploration upside, and strong potential to be acquired. With a market cap of just C$8 million, the company is significantly undervalued relative to the quality of its asset base and peer comparables. As the gold bull market gains momentum, Granada is well-positioned to deliver outsized returns.”
Link to 29-minute video interview:
https://www.youtube.com/watch?v=7-aIuHhwoqw
Link to past news releases including drilling plans:
https://granadagoldmine.com/en/news/2024/
Below is the full summary created and published by Crux Investor on Youtube:
Please contact us with any questions or concerns.
Wayne Cheveldayoff, Corporate Communications
[email protected] 416-710-2410
Granada Gold Mine Inc. (TSXV: GGM; OTC: GBBFF; Frankfurt: B6DA)
From the Crux Investor post on Youtube:
Recording date: 31st October 2024
Granada Gold Mines (TSXV:GGM) offers investors an opportunity to gain leveraged exposure to a high-quality gold resource in a top-tier mining jurisdiction. The company’s flagship Granada Gold Project in Quebec boasts a robust resource of 1 million ounces (0.5M oz indicated + 0.5M oz inferred) at an average grade of 2 g/t. However, bulk sampling indicates the potential for significantly higher grades of 3-5 g/t in the open pit and 9-10 g/t underground, suggesting the resource may be significantly underestimated.
One of Granada’s key advantages is its fully permitted, shovel-ready status. With all necessary approvals in hand, the project is significantly de-risked and can be quickly advanced to production. This, combined with its strategic location on the prolific Cadillac Break, home to over 100 million ounces of historical gold production, makes Granada a highly attractive takeover target. CEO Frank Basa explains, “On the Cadillac Break there’s very little rock that’s permitted. We’re fortunate we have the permits.” He notes that several major producers in the area, including Agnico Eagle and IAMGOLD, have processing infrastructure with dwindling ore reserves, stating “All the other mills are looking for feed.” This puts Granada in an enviable position as a potential near-term source of ore.
Exploration upside is another key value driver. To date, only 20% of Granada’s 5.5km land package has been explored, leaving ample room for resource expansion. A 120,000m drill program is underway to prove up higher grades and grow the resource, with initial results returning intercepts like 107 g/t gold over 4m. Basa sees similarities to other major discoveries on the Cadillac Break, believing Granada has district-scale potential as exploration advances.
To fund ongoing drilling while minimizing dilution, Granada has developed an innovative gold-backed preferred share structure, allowing investors to gain exposure to in-situ gold at the cost of production. Basa comments, “The potential is we can raise money through these preferred shares and minimize any dilution in our current shares.”
The investment thesis is further strengthened by the favorable macro environment for gold. With unprecedented global stimulus, negative real yields, and mounting debt levels, gold is poised for a sustained bull market. Many analysts predict prices reaching $3,000/oz or higher in the coming years. Basa remarked, “I think you might be coming into probably the craziest gold market in our lifetimes.” High-quality gold developers like Granada should outperform in this scenario.
In conclusion, Granada Gold Mines presents an opportunity to invest in an undervalued gold developer with a clear path to production, significant exploration upside, and strong potential to be acquired. With a market cap of just C$8 million, the company is significantly undervalued relative to the quality of its asset base and peer comparables. As the gold bull market gains momentum, Granada is well-positioned to deliver outsized returns.
View Granada Gold’s company profile: https://www.cruxinvestor.com/companie…
Sign up for Crux Investor: https://cruxinvestor.com
The published video and above summary may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. Granada Gold Mine does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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