Hello Guest User, You are visiting this website from a computer with an IP address of 172.70.174.221 with the name of '?' since Thu Sep 12, 2024 at 1:59:37 PM PT for approx. 0 minutes now.
SV Rating: Bottom-Fish Spec Value - as of December 29, 2023
What's Next?
Updated January 12, 2022: Endurance Gold Corp is focused on delineating a high grade epizonal orogenic gold discovery at its 100% optioned Reliance project in the Bralorne district of southwestern British Columbia. Since 2020 EDG has drilled 51 shallow RC holes and 22 core holes of which the highest grade intersection yet in the property's history was reported on January 12, 2022. The core drilling was split 6 holes for the Imperial Zone first discovered during the eighties, 9 for the Eagle Zone discovered in H1 2021 with RC drilling, and 7 for the untested Eagle South Zone identified by prospecting during the summer of 2021. Of these as of Jan 12, 2022 three holes have been reported for Imperial, seven for Eagle and one for Eagle South. From the Imperial area 2 pending holes described as having visual mineralization, #8 and #10, extend the strike of the Imperial zone in a southeast direction. From the Eagle zone #18 and #19 test the up dip potential of the 35 degree dipping Eagle zone and potentially for the presence of a deeper stacked zone. Hole #21 undercuts #20 in the middle of the Eagle South zone. Holes #16 and #17 are about 75 m NW of hole #20 and test Eagle South in an easterly direction while #22 from the same drill pad is a steeper hole in a westerly direction. Holes #14 and #15 are about 50 m SE of #20 and test Eagle South in an easterly direction. Hole #20 was prioritized for assaying because it had the best visuals, so it is reasonable to expect the remaining holes not to be better. Management has not provided any visual guidance on these remaining holes, but the ones into the Eagle South zone, whose host has been described as a "melange" compared to the altered ultramafic volcanics that host the Eagle zone, may indicate a steepening of the Eagle South zone which would be a positive development for delineating tonnage at depth. The Eagle Zone's shallow southwest dip means that it will disappear when it hits the steeper dipping Royal Shear thrust fault about 100 m to the southwest. A batch of assays is expected before the AME Roundup (Jan 31-Feb 3) and the remainder by mid February. We will be looking for an updated understanding of the geometry of the Imperial, Eagle and Eagle South zones. EDG has already signaled it wants to do a major follow up core drilling program that could start in April, possibly for as much as 10,000 m. That means EDG needs to secure a financing of at least $3 million during Q1 of 2022. The degree of financing success will set the stage for a possible $500,000 mapping and prospecting program during the summer at the Banditio HREO enriched rare earth prospect that sets the stage for a 2023 drill program. During Q2 of 2022 we will also be watching for either a farmout of the Elephant Mountain project in Alaska or a major financing at better prices to support a summer drill program.
Recommendation History
Edition
Date
Price
Recommendation
Gain
SVF2020
12/31/2019
$0.03
Bottom-Fish Spec Value Favorite
0%
SVF2020
12/31/2020
$0.14
Bottom-Fish Spec Value Favorite
460%
SVF2021
12/31/2020
$0.14
Bottom-Fish Spec Value Favorite
0%
SVF2021
3/23/2021
$0.29
Good Spec Value Favorite
104%
SVF2021
12/31/2021
$0.33
SV Technical Closeout 100%
136%
SVF2023
12/30/2022
$0.37
Fair Spec Value Favorite
0%
SVF2023
12/29/2023
$0.18
SV Technical Closeout 100%
-51%
Charts & Financing Activity
Most recent 43-101 resource estimate Prior resource estimate PEA PFS FS/BFS/DFS
Private Placement Key
less than $500,000
$1,000,000 - $2,000,000
$5,000,000 - $10,000,000
$20,000,000 - $50,000,000
$500,000 - $1,000,000
$2,000,000 - $5,000,000
$10,000,000 - $20,000,000
over $50,000,000
Private placement financing dates and value ranges are based on transactions reported by the TSXV Monthly Review.
Past Insiders and Reported Shareholders - Current Ownership Status unknown - positions may be pre-rollback
Related Party
Occupation
Related Since
Insider Ended
Director Ended
Capacity
Ownership
Cunniah Lake Inc
5/29/2015
Insider
6,787,334
Goodman & Company Investment Ltd
Institution
5/7/2009
5/29/2015
Insider
5,226,800
Duncan McIvor
Deceased
6/23/2004
4/12/2010
4/12/2010
Director
685,000
Catherine McLeod-Seltzer
Investor
9/21/2009
Placee
150,000
Marion Nelson
Broker
3/29/2011
Placee
100,000
Renee Patterson
Broker
9/21/2009
Placee
100,000
Thomas W. Seltzer
Broker
9/21/2009
Placee
250,000
Monty Sutton
Broker
9/21/2009
Placee
30,000
Share positions of current insiders based on last AGM circular, ownership % based on current Issued. Share positions of past insiders and shareholders have not been adjusted for rollbacks or splits.
A Spec Value Hunter table allows speculators to identify which projects offer poor, fair or good speculative value according to the rational speculation model. The speculative value depends on the project stage, the project's implied value as calculated by the company's fully diluted, stock price and net project interest, and the dream target deemed appropriate for the project. A dream target is what a project would be worth in discounted cash flow terms once in production.
Poor Speculative Value -
Fair Speculative Value -
Good Speculative Value -
Note: narrow arrows indicate IPV is outside the fair value channel but within 25% of the fair value limits
Color Key for Target Outcome Achievability Ranges in millions ranked from most to least achievable
below $25
Should be Private: Artisanal, Placer, Mom & Pop Shop
$25-$50
Tiny Scale: underground mine or quarry - not worth the bother
$50-$100
Small Scale: junior needs to self-develop
$100-$250
Buyout Target: by Lower Tier Producers
$250-$500
Buyout Target: by Mid-Tier Producers
$500-$1,000
Ideal Target for Junior: Buckhorn, Sleeper
$1,000-$2,000
Almost World Class: Ekati, Red Chris, Brucejack, Juanicipio, Stibnite
$2,000-$5,000
World Class: Eskay Creek, Hemlo, Hermosa-Taylor, Oyu Tolgoi, LaRonde, McArthur
$5,000-$10,000
Giants: Escondida, Sullivan, Carlin Trend, Kidd Creek, Orapa, Kamoa-Kakula
above $10,000
Off the Scale District: Wits 1.0, Araxa, Sudbury Basin, Bayan Obo
The target outcome range required for the current implied project value to represent fair speculative value is based on the upper and lower certainty limits associated with the project stage. The color coding is based on the target outcome using the mid-point of the certainty range.
Active Company Projects
Project
Location
Net Interest
Stage
IPV $ MM
Fair Spec Value Required Target Outcome Range
$100
UPV $500
$2000
Target Metals
Deposit Style
Reliance
Canada - British Columbia - Southwest BC
100% WI
3-Discovery Delineation
$30
$593 - $1,185
Gold
Orogenic Vein
Bandito
Canada - Yukon Territory
100% WI
2-Target Drilling
$30
$1,185 - $2,963
Niobium Tantalum Rare-Earth-Metals
Intrusive Complex
Olympic
Canada - British Columbia - Southwest BC
100% WI
2-Target Drilling
$30
$1,185 - $2,963
Gold
Orogenic Vein
Elephant Mtn
United States - Alaska
100% WI
2-Target Drilling
$30
$1,185 - $2,963
Gold
Intrusion Related Gold System
Flint Lake
Canada - Ontario
20.3% WI
2-Target Drilling
$146
$5,838 - $14,595
Gold
Orogenic Vein
McCord Creek
United States - Alaska - Tintina Belt
100% WI
1-Grassroots
$30
$2,963 - $5,925
Gold
Intrusion Related Gold System
Rattlesnake Hills
United States - Wyoming
1.00% NSR
3-Discovery Delineation
$0
$0 - $0
Gold
Cripple Creek style
Project Stage
Flagship
Secondary
Active
Grassroots (1) & Target Testing (2)
Discovery Delineation (3)
Infill Drilling & Metallurgy (4)
PEA (5) or PFS (6)
Feasibility & Permitting (7)
Construction (8) or Production (9)
Clicking on the project icon will display a popup identifying the company project, its stage and target metals, basic facts, a chart, a link to that project within that company's KRO Profile, a link to the most recent news release, and a link to the most recent KRO comment if one exists.
Net Interest: 100% WI Vested: No Uncapped NSR/GOR: 1.00%
Ownership Terms: Agreement Sept 12, 2019 to acquire 100% from Geotronics Consulting Ltd & A&R Resources Ltd for $300,000, 4,000,000 shares and $3 million exploration over 6 years. Vendors retain 2.5% NSR of which 1.5% can be bought for $1 million. PI Financial received a finder's fee of 200,000 shares.
Core drillng started late Aug 2021 with 22 holes 4,329 m were completed Nov 3, 2021, 6 on Imperial, 9 on Eagle, and 7 on Eagle South; 3 from Imperial and 8 from Eagle South were pending as of Jan 12/22.
Other
2022 Q1 Mid January
2022 Q1 Late March
Financing to support 10,000 m plus drill program on Reliance starting in Q2 of 2022.
Delineation
2022 Q2 Early April
2022 Q4 Late November
10,000 m plus core drill program within the Royal-Treasure Shear corridor to delineate epizonal orogenic gold discovery.
Net Interest: 100% WI Vested: Yes Uncapped NSR/GOR: 0.50%
Ownership Terms: True North optioned 75% to Endurance Gold in August 2010. Endurance can earn an initial 51-per-cent joint venture interest in the Bandito property by completing a total of $125,000 in cash payments by Dec. 31, 2012, and also completing $1-million in exploration expenditures by Dec. 31, 2013. The initial cash payment of $25,000 is due on regulatory acceptance of the transaction. Once Endurance earns its 51-per-cent interest, it has a further option to acquire an additional 24-per-cent interest (total 75-per-cent interest) by issuing TGX 200,000 shares and by completing an additional $1-million in exploration expenditures prior to Dec. 31, 2015. Revised in January 2013 for Endurance to acquire 100% for five million Endurance common shares and $50,000 in cash following TSX Venture Exchange acceptance of notice of filing of the agreement. Subject to 1% NSR of which half can be bought for $1 million. Sits within Liard First Nation territory and needs a Yukon Class 3 YESAB permit.
Target Metals: Niobium Tantalum Rare-Earth-Metals
Model: Intrusive Complex
Stage: 2-Target Drilling
Notes on Bandito Project
The Bandito property is located in the Yukon, 155 kilometres east of Watson Lake, 18 kilometres east of North Toobally Lake and 55 kilometres northeast of the road head at Smith Falls, British Columbia. The Bandito property is underlain by Proterozoic-aged sandstone, argillite and volcaniclastics, which have been intruded by Proterozoic-aged (650 million years) multiphased and sericite-altered nepheline syenite. TGX has collected grab samples that assay up to 1.2 per cent copper and 9.5 per cent nickel from an approximate one-square-kilometre hornfels and iron-oxide-enriched gossan near the syenite intrusive contact. The Bandito property was also previously explored for uranium, thorium and rare earth elements, with encouraging results for REE. All of these nickel, copper and REE prospects occur at the convergence of the headwaters of copper and zircon creeks between the Corundum and Pyrochlore domes, the topographic highs on the property.
Net Interest: 100% WI Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement May 2, 2022 to acquire 100% from Avino Gold & Silver Mines Ltd for $100,000, 1.5 million shares and $300,000 exploration by Dec 31, 2024. Avino retains a 2% NSR which can be bought for $1,750,000. Endurance must also issue 750,000 warrants with a 3 year term before Dec 31, 2024 with an exercvise price at 20-day VWAP. If during the term of the option Endurance reports a resource of 500,000 oz gold eq it must pay a $1 million discovery bonus.
Net Interest: 100% WI Vested: No Uncapped NSR/GOR: 1.00%
Ownership Terms: January 2012 option to acquire a 100% interest by completing a total of $200,000 (U.S.) in exploration expenditures, $200,000 (U.S.) in cash payments and delivering 400,000 Endurance common shares by Dec. 31, 2017. The initial cash payment of $2,000 (U.S.) is due upon regulatory acceptance of the transaction. The initial 25,000-share payment and an additional cash payment of $13,000 are payable to the vendor on finalization of a formal option agreement. The option is subject to a 2-per-cent net smelter royalty, and Endurance can purchase half of the NSR at any time.
Net Interest: 20.3% WI Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: In 2007 Endurance optioned 75% to Metals Creek Resources Corp for 450,000 shares and $450,000 exploration. Endurance has since been diluted down to 20.3%.
Net Interest: 100% WI Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: May 2012 agreement for Liberty Gold Corp to earn 60% for $600,000 (U.S.) in exploration expenditures and make $85,000 (U.S.) in cash payments over three years. Subsequently dropped. Part of property is subject to a 2017 farm-in whereby Endurance can earn 100% of lode claims operated by the vendor for placer mining for USD $40,000 cash and $50,000 exploration by 2024. Vendor retains 2% NSR of which half can be bought anytime for an undisclosed amount. The other part was staked in 2015.
Target Metals: Gold
Model: Intrusion Related Gold System
Stage: 1-Grassroots
Notes on McCord Creek Project
The McCord property is located in the eastern extension of the Livengood gold district and immediately adjoins International Tower Hill's (ITH) Livengood property on the eastern side. Project has been written off and there are no plans for further work.
Net Interest: 1.00% NSR Vested: No Uncapped NSR/GOR: 0.00%
Ownership Terms: This claim is part of the Rattlesnake Hills project owned by GFG Resources Inc. In Oct 2015 Endurance sold 100% to GFG for 1,400,000 shares and a 2% NSR of which GFG can buy 1% for USD $1.5 million.
Most recent 43-101 resource estimate 
Prior resource estimate 
PEA 
PFS 
FS/BFS/DFS
Flagship Play
Secondary Plays
Other Plays
