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Fiore Gold Ltd. (TSXV:F) – 2019 Roughly In line; Multiple Avenues for Growth at Pan

On Friday, Fiore Gold released its FY2019 (ended Sept 30th) operational and financial statements that were roughly in line with our estimates. Production results came well within guidance and generated strong operating cash flow, which the company can deploy to continue to upgrade and improve its Pan Mine and Gold Rock development projects both located in Nevada. We continue to believe Fiore is well positioned to deliver +80k oz of Au annually by 2022 driven by steady production at Pan alongside organic growth from Gold Rock.

FireFox Gold Corp. (TSXV:FFOX) – Grab Samples Highlight Jeesio’s Potential

FireFox Gold announced the discovery of a new gold target “Katajavaara”, at the company’s Jeesiö Gold Project (100% owned) in the Central Lapland Greenstone Belt, Finland. The target is adjacent to Aurion’s (TSXV:AU, FV est. C$3.25/sh) Launi project and could have the potential to house similar gold-bearing quartz-sulphide veining. FireFox has a large district land package of 80,000 ha, which we believe is not currently reflected by the company’s share price. We believe exploration success by either FireFox or Aurion (FireFox’s neighbour) should drive Firefox’s share price higher.

RECENT transactions

C$10 million

Pending 2019
Co-Agent

C$5.3 million

December 2019
Co-Agent

C$5.1 million

December 2019
Finder

C$11.5 million

December 2019
Co-Agent

C$6.6 million

December 2019
Co-Agent

mawson-resources
C$7.9 million

October 2019
Lead Agent