Mistango River Resources: Strategic patience positions this Kirkland Lake explorer for its biggest year yet

Gold mining is a cyclical business, and right now the cycle is exactly where the industry wants it, with precious metals prices strong and investors eager to participate in the good times by backing well-run companies with capital. Macroeconomic factors, driven recently by the COVID-19 pandemic, are owed much of the credit, but the sector’s strong performance has actually been due for some time.

Few people understand these trends better than Stephen Stewart, an experienced resource industry executive and Chairman of junior explorer Mistango River Resources (CSE:MIS).

Stewart and his team have followed a pragmatic strategy that now sees Mistango drilling in Kirkland Lake, one of Canada’s most famous and productive gold camps.

Gold went through over half a decade of stagnation, trading in a fairly narrow range before breaking out to the upside in 2020, despite what some would argue was the macro background to move higher all along. What many industry executives saw as a crisis, however, Stewart recognized as opportunity.

Rather than ploughing cash into exploration during a downturn, Mistango took its time assembling a portfolio of high-quality assets then waited until investor interest returned and funds could be raised at an acceptable cost. With some $7 million in the treasury, now it’s time to put the growth part of the plan into action.

“No question about it, timing is everything, especially where I sit,” explains Stewart in a recent interview with Public Entrepreneur.

“We are now in what I would call our third phase. The first phase is buying cheap and the second phase is raising money at a good cost of capital. Now we are in the process of deploying that capital as intelligently and as efficiently as we possibly can so that we can either discover a new ore body or expand on a known one.”

Mistango’s first drill target is in Ontario’s famous Abitibi Greenstone Belt. The company is midway through a planned 10,000-metre drill program at its 4,300-hectare Kirkland West project, right next door to the Macassa Mine run by industry titan Kirkland Lake Gold. Macassa, by the way, is not only large, but also one of the highest-grade gold mines in the world.

“We are beside the third-largest gold ore body ever discovered, that has gone from east to west, and we’re the next property west,” says Stewart. “The anticipation is, and certainly my hope is, that we can extend that mineralization onto our property.”

Macassa, like Mistango’s project, sits on the major Cadillac-Larder Lake Break fault system, which is responsible for much of the 25 million ounces of gold produced at Kirkland Lake in the past 100 years or so.

Stewart reckons the current buzz around the Kirkland Lake area and the Canadian gold mining industry in general is justified as juniors get drills turning again, and impressive new discoveries, such as those in the equally famous Red Lake district, prove once again that Canada is one of the best gold mining jurisdictions in the world.

“Kirkland Lake has been mined for a hundred years. It’s going to be mined for a hundred more. There are more ore bodies that have not yet been discovered in that camp. There’s no question about it,” explains Stewart.

Mistango’s first phase of drilling targets three zones at Kirkland West, the first of which was the former Baldwin Mine, which is thought to sit on extensions of the main fault and where historical output showed grades of 15 grams per ton.

The Baldwin work is now complete and the rigs have crossed the river to test the main Cadillac-Larder Lake fault proper.

The company also plans to soon begin drilling its second asset, the advanced stage Omega Mine, which lies around 30 kilometres east of Kirkland West and has an NI 43-101 resource of around 585,000 indicated and inferred gold ounces.

In the middle of the last century, a mine at Omega churned out about a quarter of a million ounces. Notably, Omega also lies near some big names, including Agnico Eagle’s Upper Beaver deposit and the former Kerr Addison Mine, at one time Canada’s largest gold mine.

Omega is also just a few kilometres west of Orefinders Resources’ McGarry project, which hosts an indicated resource of 123,000 ounces of gold at 8.57 grams per ton.

Stewart points out that taken together, Orefinders and Mistango comprise one of the largest landholders on the Kirkland Lake/Cadillac-Larder Lake fault system.

Mistango is one of the companies in the Ore Group, which Stewart also chairs. Other companies in the group include QC Copper and Gold, American Eagle Gold and Orefinders.

So, how did Mistango manage to get its hands on such a prime piece of land? 

It’s fair to say that it took persistence. Ore Group, via Orefinders, put in an offer to buy Mistango a couple of years ago but was turned down by management. It later became a significant shareholder, initiated a proxy battle, and ultimately took control.

Next began the process of turning the company around, recapitalizing it and starting to put money into the ground, says Stewart.

“We consider that [Kirkland Lake] the Ore Group’s backyard. It’s a seven-hour drive from Toronto and we just know the area and we love it and so it was an opportunity to expand our position,” he says.

Mistango River has some impressive backers, notably resource icon Eric Sprott, who holds 20% of Mistango’s shares. Sprott was Chairman at Kirkland Lake Gold during much of its heyday when the stock went up over 20 times in value.

“When he saw our land package, he instantly chose to invest,” says Stewart.  

“He understands the possibility of the gold coming onto our property. He knows how pregnant those fault systems are with gold and took an educated guess on our company.”  

On the ground, Mistango also benefits from the insights of Vice President of Exploration Keith Benn, who has a PhD in structural geology and extensive experience with the Abitibi.

Director Charles Beaudry also has over 30 years of experience in exploration, project generation and business development.

Numerous corporate success stories involve years of patience and hard work before the tide turns and management finally has the opportunity to prove that its instincts were right. With a strong team, a healthy treasury and ongoing exploration of high-quality projects in one of the world’s best gold addresses, that moment looks to have arrived for Mistango River Resources.

This story was featured in the Public Entrepreneur magazine.

Learn more about Mistango River Resources
at https://mistango.com/

Kevin Wright on Bridging Brands to Esports Communities | #HashtagFinance

CSE’s James Black chats with Kevin Wright, President of GameSquare Esports Inc. (CSE:GSQ) to discuss the company’s unique focus on the agency vertical in esports and how they are bridging the gap between global brands and growing gaming communities.

Here’s an overview of what James and Kevin cover in this edition of the #HashtagFinance podcast:

0:00 – Introducing Kevin Wright and GameSquare
1:50 – The state of esports in 2021
4:55 – The role of physical infrastructure in esports
8:30 – The GameSquare business model – backed by Code Red and GCN
12:45 – Describing “brand safety”
13:55 – Why non-endemic brands are getting involved in esports 17:45 – Following the playbook from “traditional” professional sports
22:15 – Ninja and Apex Legends
23:30 – Kevin’s background in programming and banking
27:30 – The wrap

About GameSquare Esports

GameSquare Esports Inc. is an international gaming and esports company headquartered in Toronto, Canada. The Company is seeking to acquire additional assets and entities serving the gaming and esports markets and, more broadly, in sports and entertainment.

The acquisition of Code Red Esports Ltd. (“Code Red”), an esports talent agency, provided an initial foothold in Europe through its UK operations. Code Red represents leading on-screen talent, players and influencers and works with leading global brands to develop influencer campaigns and esports marketing strategies. GameSquare’s second acquisition of Reciprocity Corp. provides access to Asia, Latin America and North America.

Its gaming and esports assets include: a CrossFire franchise in China that it owns with its partner LGD Gaming, a 40% interest in a League of Legends team that competes in Latin America, and, its wholly owned subsidiary corporation, GCN, a digital media company focusing on the gaming and esports audience based in Los Angeles, USA.

Learn more about GameSquare Esports at https://thecse.com/en/listings/technology/gamesquare-esports-inc

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WellteQ Digital Health Inc. Joins the CSE for a Market Open

The CSE welcomed WellteQ Digital Health Inc. (CSE: WTEQ) for a virtual Market Open on March 24, 2021. 

WellteQ is a leading provider of corporate wellness solutions that use data-driven, personalized health and wellness coaching to encourage users toward healthier behaviours. Currently, WellteQ is developing its newly acquired Internet of Medical Things (IoMT) technologies for connected patient apps. The CSE looks forward to seeing this company expand their continuum of care and continue promoting healthier lifestyles.

Kicking off the day’s trading at this virtual Market Open was CEO Scott Montgomery, along with other members of the incredible WellteQ team. 

For more details about the CSE, including information on other Market Opens, please visit the CSE website or follow us on social media.

Kuya Silver: Near-term production, exploration shape a game plan based on a proven path to the big leagues

When putting together the business plan for a new company, incorporating lessons from the leaders in your industry is always a good idea. David Stein worked as a mining analyst beginning in the early 2000s and was among the first to initiate coverage on marquee names such as First Majestic and Fortuna Silver. When he decided to establish an exploration company of his own, he understood the models that tended to position small companies to become billion-dollar players.

Focusing on high-grade silver projects with the potential for near-term production, Kuya Silver (CSE:KUYA), where Stein is Chief Executive Officer, is active in Peru and Canada, two of the world’s most prolific jurisdictions for precious metals production. With a healthy treasury, a balanced approach to its projects and a strong silver market, the company is ready to begin putting its plan into action. Stein shared his strategy of silver production and ongoing exploration with Public Entrepreneur in mid-February.

Kuya is obviously silver-focused. Before we get into your two projects and the outlook for each, tell us why you chose silver.

It really comes down to finding an exceptional project and it just happened to be a silver project. I found the Bethania Mine opportunity in 2017, and while my background is in all sorts of different minerals, precious metals are the main ones.

As I started looking more into the silver mining industry, I noticed there was a huge opportunity because many of the intermediate and large silver players from 10 or 15 years ago had diversified away from silver and more into gold. Now there is this sort of a void in the industry where if you want to invest in a primary silver mining company there are very few options. The opportunity to have this exceptional project and be able to get into production quickly made it all the more exciting. 

Your plans for Bethania call for putting a local mine back into production and at the same time doing exploration to help with mine planning and resource expansion. How did you come across Bethania, and can you talk about the thinking behind this two-part plan?

In terms of how I found it, I went out on my own after being in the industry on the investment side for 15 or 16 years and was looking for projects, mostly privately owned opportunities. During the bear market I had focused on private equity as a niche within the mining sector. Bethania was one of the projects that came up.

In terms of the business plan – restarting the mine, putting our own plant there and increasing production – that evolved over the course of negotiations with the former owners. Initially, they were really looking for someone to put a little money in for a minority interest and help them with some financial issues. It didn’t interest me as a minority investment, but if we could take control, there was a chance to do something special. I saw the potential to get enough silver production from this mine to make it into a meaningful public company one day.

I was a sell-side equities analyst in the early 2000s and one of the first analysts to cover some of the important silver companies. To me, this opportunity reminded me a lot of those: start with a high-grade silver mine with low capex that you could put into production quickly and easily. Then, by bringing better access to capital through the public markets, you could grow production, reduce costs, do more exploration – all those good things we plan to do.

If you look at the genesis of First Majestic or go back even further to the first projects that Pan American acquired in Peru, these very big and successful multi-billion-dollar companies all started with a single high-grade silver project. That was the beginning of the journey.

Peru has a long history of mining. What is the plan for community support and sharing the benefits with the people who live in the region where Bethania is located?

Peru is a very diverse country with different communities and types of environment. We are in the high Andes in central Peru, so we are in an area that is very accustomed to mining. As a recently producing mine, there is already acceptance of Bethania and a culture within the local community to support it. The community that has jurisdiction over the mining area is Poroche, and we are still in the process of working out what the people want to see over the longer term. The community has been very helpful, and I think they believe in the benefits of having more activity in the area and would prefer that the mine be operating.

One noteworthy aspect of our relationship is that we were able to receive our environmental impact assessment approval for the new plant and tailings storage. In order to do that you essentially have to get approval from your local community before you submit your paperwork to the government. There are site visits and other aspects of a legislated process. So, you work with the local community and essentially earn its support before permits can be granted. I think that demonstrates we are on a strong footing.

Your other project is located in northeastern Ontario. It has some very nice silver numbers and some cobalt in the mix as well. What is your plan there?

There are two parts to that deal. There is a part where we are buying a section outright, which is the Kerr Project. It represents about 10% of the First Cobalt land package and is the most advanced part. It is where most of the historical drilling is.  We have most of the data, and most of the high-grade silver hits are in that area. We see that as the part we can potentially get into production first. The other 90% goes into a joint venture.

This means there are two strategies. With the Kerr Project, we are looking to follow up on historical high-grade silver intersections and look for extensions of some of the known mines. There have been more than 70 million ounces produced in the area we are buying. We would like to find potentially some new veins and get them into production, at a similar scale to what we are doing in Peru.

And that is the link for us from Peru to Ontario, that the history of the Cobalt Camp is this super high-grade mineralization mined at a small tonnage. We want to produce a lot of silver but not necessarily go through a lot of rock. And we feel we can do that in the Kerr area.

With the joint venture, the opportunity is to find another collection of veins. If you look at the whole camp, the 400 million or 500 million ounces produced historically from this part of northeastern Ontario is in clusters of 50 million to 100 million-plus ounces of silver. With the joint venture we want to find a new cluster.

Do you have any closing thoughts, perhaps something we’ve missed or a statement that encapsulates how investors should think about Kuya Silver?

I would highlight that we are very focused on restarting production and becoming a profitable silver mining company in Peru. But we also feel that we have exceptional exploration potential with our property there. In 2021 and beyond you’ll essentially see us on two parallel tracks: one will be mine development and getting into production, and the other will be drilling and working to find the resource that underlies production for another decade or more. And we think we can do that in the next year or two.

This story was featured in the Public Entrepreneur magazine.

Learn more about Kuya Silver
at https://www.kuyasilver.com/

Jeff Stevens on the Healing Potential of Amanita Muscaria Mushrooms | #HashtagFinance

CSE’s Anil Mall chats with Jeff Stevens, CEO of Psyched Wellness Ltd. (CSE:PSYC) to discuss the company’s objective to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category. Jeff also shares how they are developing a line of Amanita Muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief and relaxation, assist with sleeping and to support mood.

Here’s an overview of what Anil and Jeff cover in this edition of the #HashtagFinance podcast:

0:00 – Introducing Jeff Stevens CEO of Psyched Wellness
2:30 – The company’s mission to harness the healing power of mushrooms
6:00 – The science and history of Amanita Muscaria
9:00 – Professor David Nutt – a thought leader in Amanita Muscaria
11:20 – Michael Nederhoff, Terry Booth and the PSYC Board
16:00 – Psyched’s developing product line
17:20 – The R&D required to launch a micro dose product
20:30 – Keeping up with Psyched
22:50 – Closing comments – the value proposition

Learn more about Psyched Wellness at: https://thecse.com/en/listings/life-sciences/psyched-wellness-ltd 

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SoLVBL Solutions Inc. Joins the CSE for a Market Open

The CSE was happy to welcome SoLVBL Solutions Inc. (CSE:SOLV) for a virtual Market Open on March 17, 2021.

SoLVBL Solutions Inc. is a cybersecurity company, working on developing a universal standard for establishing digital record authenticity. Their lead product, Q by SoLVBL™, enables fast authentication of digital records, allowing companies to quickly establish trust in their data. The company is focused on solutions for several industries, including the financial sector, medical applications, and critical internet of things (IoT) infrastructure. The CSE looks forward to seeing how this innovative company continues to protect the integrity of data in the virtual world.

CEO Ray Pomroy and other fantastic members of the SoLVBL team kicked off the start of trading during this virtual Market Open.

For more details about the CSE, including information on other Market Opens, please visit the CSE website or follow us on social media.

Clarity Gold: Unearthing big value in overlooked projects

Founded in 2019 and publicly listed on the CSE in July 2020, Clarity Gold (CSE:CLAR) has the objective to acquire and develop gold projects that have been “overlooked or underfinanced.”

Headed by Chief Executive Officer James Rogers, Clarity’s management team has certainly proven its ability to identify, evaluate and execute transactions, having collectively completed over 100 resource project deals.

In November 2020, the company acquired an option on 100% of the Destiny Project, a gold project located in the prolific Abitibi Greenstone Belt, which extends from Wawa, Ontario to  Val-d’Or, Quebec.

In addition to Destiny, Clarity has three 100% owned projects on its books in British Columbia: Empirical, a gold, copper and molybdenum project located 12 kilometres south of Lillooet; Tyber, a gold, copper and silver project located 18 kilometres south of Parksville; and Gretna Green, a gold, copper and silver project located 24 kilometres southwest of Port Alberni.

Rogers spoke recently with Public Entrepreneur about his views on building a company in the resource sector and what the future holds for his industry and Clarity shareholders.

Let’s start by delving into Clarity Gold’s mission statement and your guiding principles. 

Clarity’s objective since inception has been pretty clear – we’ve been entirely focused on gold in North America, with an emphasis on Canada. Our mandate has been to become an explorer concentrated on discovering and building ounces in stable jurisdictions within North America. 

British Columbia was our starting point, and we’ve grown by establishing a strong foothold in Quebec with the Destiny Project. 

Destiny is a project you acquired in November and it is in the famous Abitibi Greenstone Belt. Tell us about your decision to obtain a 100% option on this project.

Destiny is an exciting gold project on a lesser-known structure in the belt. The Abitibi is an important jurisdiction in Canada, and in the world, really. It is one of the most prolific greenstone belts there is.

The Abitibi is comprised of six dominant structures. The 400-kilometre-long structure that the Destiny Project is located along is called the Chicobi. It is a less-explored structure that is proving to have gold mineralization associated with it, just like on the Cadillac and other well-known structures through the Abitibi. This is one of the reasons we were attracted to it. Dominant structures play an important part in controlling gold mineralization within the Abitibi.

When we look at the main structures in the south, they are largely near surface. Nobody really found the Destiny Project until 1998 because it has a thin veneer of overburden and till – it is just not on surface.

It started in 1998, which kicked off multiple campaigns totalling over 50,000 metres of drilling, culminating in a historic resource in 2011. And it has basically lain dormant since 2012. Our mandate is to take a fresh look at this, peeling back the previous data and thinking more about this project’s optionality as a high-grade, structurally controlled gold deposit. 

You also have three projects in British Columbia. How do these fit into your near-term plan?

We started with Empirical, which was our flagship project in British Columbia. We then acquired two more grassroots projects in the province. My background is in project generation and one of my strengths is keeping an eye open for new opportunities and projects. When our team saw Destiny, we recognized the opportunity for a more advanced project to create value in a jurisdiction that we’re comfortable working in and understand really well. We see the best opportunity to create near-term value for the company in advancing Destiny, but will continue to maintain and advance the rest of our portfolio.

How are you funded to move forward with the planned work following your recent private placement? 

We just finished a $4.5 million financing. The next step for us is two-fold. We are financed to carry out exploration to advance Destiny but are also on the lookout for more projects with a similar profile where we could add value with our expertise. Destiny is a foothold – it is really our first step into a large gold camp where we have experience operating. 

You have somewhat of a different background than the typical junior company CEO in that you run a large services company for the industry as well. What do you consider is your main strength as head of Clarity Gold? 

I’d say looking at data and coming up with an idea. A cool stat is during the hunt for Destiny, I compiled 200,000 drill holes in Quebec and Ontario inside of the Abitibi and started thinking a bit about why the Chicobi structure just hadn’t been looked at the same as the others and why this is an important and underexplored part of the Abitibi story. 

Bear in mind, the Abitibi has produced more than 180 million ounces of gold, which is an incredible number. It’s actually hard to keep track of the number of headframes you pass as you drive from Val-d’Or to Timmins. One of my strengths is definitely looking at data but also in executing. 

I come from an exploration background, running a services company where our specialty is grassroots exploration and running drill programs, up to say 70,000 to 100,000 metres of drilling in a year. But when we get in and take a look at data, and we’re able to manipulate and think about things differently, that’s where we find things that get exciting. Where things have been overlooked or interpreted in a different way. Then we’re able to bring a fresh perspective to something and bring it to life. 

Let’s finish up with a look at what investors should expect from Clarity in 2021.

This year is going to be big. It will include our maiden drill program on Destiny, which should be kicking off before winter’s end. We’ll start with about a 10,000-metre program, which will then carry on into subsequent drilling as we get results and continue to move it forward.

This story was featured in the Public Entrepreneur magazine.

Learn more about Clarity Gold
at https://claritygoldcorp.com/

Public Entrepreneur Magazine: The Mining Issue – Now Live!

Welcome to the latest issue of Public Entrepreneur magazine, your source for in-depth stories of entrepreneurs from a wealth of different industries.

While 2020 was a year of unprecedented challenges, 2021 appears to be a year of unearthing new opportunities in the mining space. In this issue of Public Entrepreneur, we dig into all aspects of the industry, highlighting trailblazing entrepreneurs who are forging their own paths ahead. 

We shine a spotlight on CSE-listed companies that are exploring possibilities sheltered in diverse geographic formations, reviving deposits, and delving into previously overlooked economic opportunities. We also share the perspectives of influential women in mining. 

The CSE-listed companies featured in this issue include:

Check out the Mining Issue of Public Entrepreneur here:

The CSE Celebrates International Women’s Day With a Virtual Market Open

On March 8, 2021, the CSE marked International Women’s Day with a special virtual Market Open featuring the talented women on the CSE team. This Market Open celebrated women’s achievements worldwide and acknowledged the ongoing work toward the goal of gender equality.

“At the CSE, we know that diversity and inclusion matter. We also recognize that the current environment reinforces that women bring different experience, perspectives and skills to the table, making irreplaceable contributions to decisions and policies that better the workplace for everyone,” said Mary Anne Palangio, Chief Financial Officer of the CSE. “This is not a one-day or a one-week focus for us. It’s part of our DNA,” she said.

The CSE is proud to play an important role in helping women entrepreneurs access the capital markets.

For more details about the CSE, including information on other Market Opens, please visit the CSE website or follow us on social media.

Mark Binns on Facilitating the Next Stage of Crypto Adoption | #HashtagFinance

CSE’s James Black chats with Mark Binns, CEO of BIGG Digital Assets Inc. (CSE:BIGG) to discuss the company’s commitment to delivering “compliance-first crypto” through their Netcoins and Blockchain Intelligence Group businesses. Mark also shares his thoughts on the current state (and price) of bitcoin and how his company is preparing for the influx of institutions moving into crypto currencies.

Here’s an overview of what James and Mark cover in this edition of the #HashtagFinance podcast:

0:00 – Introducing Mark Binns and BIGG Digital Assets (CSE:BIGG)
0:50 – The institutional influence on crypto and bitcoin
2:14 – What is Netcoins? …and the future of crypto exchanges
5:40 – The pros and cons of bitcoin ETFs
7:55 – The business reasons for purchasing bitcoin
9:30 – Does short selling occur on crypto exchanges?
11:05 – The origin of Netcoins and the world’s first bitcoin ATM
13:05 – What is influencing the price of bitcoin right now?
17:35 – Delivering compliance-first crypto with BitRank and QLUE
21:05 – $12M raised and use-of-proceeds
22:35 – What’s next for BIGG?
23:30 – The wrap

About BIGG Digital Assets
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (gonetcoins.com).

Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE (TM), enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.

Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and enables crypto transactions via retail locations globally, a self-serve crypto brokerage portal.

Learn more about BIGG Digital Assets at https://thecse.com/en/listings/technology/bigg-digital-assets-inc

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