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Gold Co. Uniquely Positioned in a Underexplored Region

Source: Streetwise Reports

 

September 11, 2023 (Investorideas.com Newswire) Brett Richards, with 34 years in industry, speaks on Sanu Gold. See why experts like this company's stock.


Brett Richards is the CEO and director of Goldshore Resources Inc. (TSXV: GSHR;OTCQB: GSHRF ;FWB: 8X00).

According to his profile on Goldshore's website, he has 34 years of experience in the mining industry, including serving as the CEO of Roxgold Inc. (ROXG:TSX), Katanga Mining (KAT:TSX), and London Listed Avocet Mining Plc., which sold the Tri- K project in Guinea to Managem.

Brett Richards, who is on the advisory board, spoke to Streetwise Reports on why he believes Sanu Gold Corp. (SANU:CSE; SNGCF:OTCQB) is a compelling opportunity in the precious metals market.

Sanu Gold is an exploration company based in Guinea, West Africa. Richards acknowledges that North American investors may be hesitant about investment opportunities in West Africa but believes Guinea is more reliable than they might think.

Richards stated, "I'm quite comfortable with the geopolitical risks there."

According to Richards, Guinea's government is particularly friendly to mining operations, as the industry is a major financial asset for the country: "The government is investing in mining for the long term. They don't make radical changes . . . They understand the balance required for mining companies who have a very cyclic business to run."

According to Richards, Guinea is host to major mineral deposits of gold and other minerals.

He went on to say, "I think the geology speaks for itself . . . we're looking for elephant-sized deposits here, we're looking for 10 million ounce potential."

He was especially bullish on Sanu Gold, calling the company "a bit of a unicorn." He described the company as "uniquely positioned to take advantage of a region that is under-explored, underdeveloped, and can emerge very quickly as a high-producing area over the next three to five years for gold production."

Gold Looks to Hold Steady

In our call with Richards, he spoke positively about the gold market.

"I think we're going to be heading for the largest, heaviest, and fastest bull run in gold that we've seen in 100 years," he said. "I think gold is going to skyrocket over the next five years due to a number of macroeconomic factors going on."

He noted some of these factors being the current rate of inflation, interest rates, the weakening of the U.S. dollar, and the possible outcomes for the 2024 U.S. Presidential Election.

Technical analyst Clive Maund also believes in gold, as he explained in a recent article that gold is relatively recession-proof. According to Maund, even in the market crashes of 1987 and 2008, gold may have briefly dipped but was not strongly affected by the negative market.

Maund stated, "A key point to note at this juncture is that many Precious Metals stocks are already heavily sold down and suffering from negative sentiment, so the effect of a crash on them will probably be more muted, and then they are likely to come back strongly as money moves out of fiat."

Drilling on the Horizon

Gwen Preston of Resource Maven spoke to Martin Pawlitschek, the president and CEO of Sanu, at the Metals Investor Forum in March. Preston noted that the company had seen some extraordinary successes and is looking forward to future drilling.

Sanu Gold reports that it is currently planning follow-up drilling at the Bantabaye Gold Exploration Permit.

Sanu also reports that it expects it will have completed the second tranche of ownership on Bantabaye, Daina, and Diguifara in the third quarter of 2023.

Ownership and Share Structure

Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own 16.94%. According to Reuters, Fatou Sylla Gueye, director and Co-Founder, owns 7.34% of the company, with 5.10 million shares, Martin Joachim Pawlitschek, the CEO and director, owns 4.19% with 2.91 million shares, Vince Sorace, the Executive Chairman, owns 3.60% with 2.50 million shares, Galen Stuart McNamara, director, owns 0.97% with 0.68 million shares, Gavin Cooper, the CFO, owns 0.58% with 0.40 million shares, and Fiona C. Childe, the Vice President of Corporate Development and Communications, owns 0.26% with 0.18 million shares.

According to Reuters, institutions own 6.77% of the company. Reuters reports that Commodity Capital AG owns 3.77% with 2.62 million shares, US Global Investors, Inc., owns 1.85% with 1.29 million shares, and Palos Management Inc. owns 1.15% with 0.80 million shares. The company does not report any strategic investors.

The company reports that it has CA$2.3 million in the bank as of March 31, 2023, with a monthly burn rate of CA$150,000, and an average monthly drilling cost of US$120 per meter.

Reuters reports that the company has 69.45 million outstanding shares, with 57.69 million free-float traded shares. The company has a market cap of CA$3.06 million, and it trades in the 52-week period between CA$0.06 and CA$0.46.

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