1911 Gold, target 2moz Au with permits and mill already in place

1911 Gold Corporation is located in the heart of the world-class Rice Lake gold district within the West Uchi greenstone belt. The Company holds a dominant land position with over 62,000 Hectares, an operating milling facility, an underground mine with one million ounces in mineral resources, and significant upside surface exploration potential.
Mining Network:
LinkedIn: / mining-network
Twitter: / miningnetwork_
Website: miningnetwork....
#1911gold #gold #canada

[@DanielCook-em8fo]

Sounds like a serious value proposition trading 10 cents per AUMB and $13M market cap Canadian. A) $300+ million replacement cost. 1,300+ tonnes per day mill. Modern and Functional. Permitted. B) 100% owner of Rice Lake greenstone belt (Manitoba), which is similar geology to Red Lake but has seen approx. 50X--100X less exploration. 4 past producers within the 45,000 hectare property. C) Updated resource (including "reserves"?) to be published by end of Q3 D) Confident mistakes were made by previous operators and a profitable mining method will be found, or has been. Rising gold price sure helps with economics. Existing resource would yield 40--50,000 ounces per year. Then look to near mine site exploration to grow further.

[@joeyf6133]

Extremely cheap keep buying!

[@sunnysider6350]

Good situation. I don't see them grinding out the production and financing required. They lack the equipment mostly so they said they may hire a contractor. Dewatering a few million gets them started within 2-3 years. Clearly, industry players know of them and someone will pounce well before they get enough retail recognition to drive the share price up to $70-80M as the CEO indicates. They can make instant assessment on the available historic data. No one will wait until 1911 discloses to the public. Take-out coming in next few months more determined by the gold price than internal related factors 1911 is working. Today October 17, 2024 gold ~ $2700. This is gone once gold demonstrates a $2800-2850 base floor level. The initial 40,000 to 50,000 ounce production rate will throw off $30-40M cash per year based on a $40-50M investment. The Company itself can be acquired with ~ $50M USD bid so less than $100M out the door..

[@francinelong493]

That was truly awesome. Go Timmins and Matheson.

[@victorgoncalves4358]

Good luck ... !

[@cocoablini]

If I recall Eric Sprott has 19% of the company now? I bought this ages ago knowing they had some easy tailings to run through to get some quick gold. Junior space is really susceptible to costs of oil and labor and other costs like electricity. The high inflation rate is taking a whack out of this sector

[@Krusty-kl5ej]

Lots of potential, but the minesite needs a new headframe to get to deeper mineralization. Hope they get there. Note, the UN and the Manitoba and Ontario governments combined to stamp a park between Bissett and Red Lake. There is incredible potential between the two mining camps as they are structurally connected, and the park serves as a terrible legacy.