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One of the keys to finding big winners is to realize that the junior mining share market is inefficient.
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Simply put, sometimes the market misses the obvious.
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And if you’re able to find the occasional oversight and pounce on it, you have a chance to hit some huge winners.
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One example: A company with an established, million-ounce gold-equivalent resource...plus another gold-copper project showing all the signs of being a new discovery...and yet the market doesn’t give it anywhere near full credit for these assets.
Such is the situation with P2 Gold (PGLD.V; CTIMF.OTC). The company has two projects in Tier 1 mining jurisdictions (Nevada and British Columbia), one of which has a 1.12-million ounce indicated gold-equivalent resource (plus another 1.64 million ounces of inferred gold-equivalent).
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As you’re about to see, P2 Gold is advancing both projects at a brisk pace, with drilling just completed on its Gabbs project and drilling to come on its BAM project.
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With both the gold and copper markets showing a lot of upside in the next 12-18 months, P2 Gold’s current undervalued situation makes it a near-ideal play in today’s new gold rally
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Gabbs:
More Than A Million
Indicated Ounces...Just To Start
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P2 Gold took over the Gabbs project in Nevada in 2021 and quickly set about updating its resources.
The result?
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A 1.12-million-ounce indicated resource and a 1.64-million-ounce inferred resource, both in gold-equivalent terms.
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Better still, all four major resource hosting areas at Gabbs are open along strike and at depth, so there’s lots of room to grow from here.
A location along Nevada’s Walker Lane Trend near infrastructure makes the project all the more attractive.
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Pending the results of the early 2022 drilling, P2 Gold plans to drill more at Gabbs and to have a preliminary economic assessment on the project by Q4 2022.
All by itself, Gabbs would be a flagship project for most juniors...but P2 Gold has a second project showing at least as much promise.
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BAM:
A Potential Company Maker
In The Heart Of The Golden Triangle
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BAM is that project, and it’s located in British Columbia’s prolific Golden Triangle. This region has generated multiple multi-million-ounce gold deposits.
And BAM is showing the potential to be the next one.
A 2021 drill program established BAM’s Monarch gold zone as a key target. Outlined by a surface soil sampling anomaly spanning 1-km-by-1-km, the four drill holes P2 Gold put down on the target all hit significant gold mineralization, with the highlight coming from Hole 3 (45.9 meters of 2.63 g/t, including 9.2 meters of 7.3 g/t gold).
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That’s an impressive hit, and it goes with other lower but still mineable-grade gold at holes spaced as much as 600 meters apart.
In addition to the gold hits from this program, the company also drilled copper on the Jan zone, located to the southwest of the Monarch zone.
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Hole 4 from that two-hole testing of Jan cut an amazing intersection of high-grade mineralization: 1.10% copper over 39.25 meters, including 9.15 meters grading 3.23% copper.
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Given these results, it’s no wonder that P2 Gold plans to drill BAM with 8,000 to 10,000 meters this summer.
The goals will be to expand the near surface mineralization at Monarch and Jan, follow the 2021 results to depth and test targets from a planned ZTEM survey.
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A Seasoned Management Team
Aligned With Shareholders
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When it comes to building value at mining companies, the team at P2 Gold is as seasoned as they come.
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Led by CEO Joe Ovsenek, this group has deep experience bringing Pretium Resource’s Brucejack mine into production. That company was sold to Newcrest in March for $2.8 billion.
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Prior to Pretium, Ovensek, Chief Exploration Officer Ken McNaughton and Executive Vice President Michelle Romero had long stints at Silver Standard Resources (now SSR Mining), helping make that company one of the most successful silver plays ever seen in the sector.
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Now, this group has brought its full attention to advancing P2 Gold. And it’s aligned with shareholders right down the line — the company’s management and board owns 25.1% of the company’s outstanding stock.
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Share Price Catalysts Straight Ahead
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With full shareholder alignment, an established resource at Gabbs and a high-profile exploration target at BAM, P2 Gold has all the ingredients for a tremendously rewarding 2022.
It’s rare for a company to have this much inherent value and still be wildly undervalued by the market.
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But the PEA for Gabbs and the drilling at BAM lies straight ahead, giving P2 Gold steady news flow and high-potential catalysts to drive its share price higher from here.
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Simply put, P2 Gold is the right team, in the right places, at the right time. If you’re looking for a great play on exploration success and gold and copper prices, it’s time to look into P2 Gold.
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