Here's a summary of our interview with American Eagle Gold CEO Anthony Moreau and exploration lead Neil Prowse on the NAK copper-gold porphyry in BC.
Overview:
What have they done for shareholders lately?
How much money do they have and what are they spending it on?
Upcoming catalysts
Risks
Full Article: https://resourcetalks.com/gold-stocks/growing-copper-discovery-in-bc-but-will-the-grade-hold-up/
TL;DR
They closed the Eric Sprott financing, have roughly $55 million in the bank plus receivables, and says that funds this season’s 55,000 metres plus a repeat program next year, taking them well into 2028 and paying for both a maiden resource estimate and a preliminary economic study. Three rigs are turning, 17 holes are done and they are on holes 18 to 20, with drilling meant to run without an off season through to at least April. Six holes have been released so far. Management says the plan is a maiden resource this cycle, ideally dovetailing into a PEA toward the end of next season, and that the real question is not whether they can produce a resource but how much of it lands in the indicated category rather than inferred. They walked away from the Pacific Booker bid after the target’s share price ran up, and say NAK stands on its own. Next assays are roughly three to four weeks out.
