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SV Rating: Fair Spec Value - Favorite - as of December 30, 2022
Corporate Change History
#Old for New
Last Price
Prior Name
Subsequent Name
Details
Feb 18, 2011
Name Change
1:1
$0.30
First Gold Exploration Inc (EFG-V)
Critical Elements Corp (CRE-V)
Jun 19, 2019
Name Change
1:1
$0.45
Critical Elements Corp (CRE-V)
Critical Elements Lithium Corp (CRE-V)
Recommendation History
Edition
Date
Price
Recommendation
Gain
SVF2023
12/30/2022
$2.07
Fair Spec Value Favorite
0%
Ranking within Company's Price Range based Group
All TSX-TSXV KRO as of Mar 23, 2023
Group Median
Company
Percentile
Score
Price Range:
$2.01-$5.00
Issued:
102,039,151
96,709,094
58.2%
59.7%
Price Group Total:
67
Working Cap:
$23,883,000
$31,526,282
61.2%
TSXV KRO as of Mar 23, 2023
Group Median
Company
Percentile
Score
Price Range:
$2.01-$5.00
Issued:
91,277,325
96,709,094
44.1%
61.8%
Price Group Total:
34
Working Cap:
$11,633,852
$31,526,282
79.4%
Group figures exclude delisted and suspended companies. The higher the company percentile the better, based on the assumptions that the lowest issued shares and highest working capital are best. The score is the average of the percentiles. A percentile is that percentage of a group that a member ranks higher than. Note that issued and WC reflect latest financials.
Ranking Color Code:
Lower than 25%
25% to 50%
50% to 75%
Higher than 75%
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
Robert Ayotte
Administrator
2/10/2010
2/8/2011
2/8/2011
Director
200,000
Mark Baggio
3/9/2012
6/13/2014
6/13/2014
Director
0
Gord Bain
Broker
12/8/2009
Placee
100,000
Steve Benjamin
Broker
5/17/2010
Placee
50,000
Andre Bergeron
11/21/2006
2/10/2010
2/10/2010
Director
0
Louis Despres
Broker
Placee
52,500
Pierre Forget
10/31/2006
2/10/2010
2/10/2010
Director
330,000
David L. Hamilton-Smith
Broker
5/15/2009
Placee
100,000
Jenna-Lee Hardy
Geologist
12/13/2010
6/13/2014
6/13/2014
Director
0
Gina Holliday
Broker
12/8/2009
Placee
50,000
Joe Dwek Management Consultants Inc.
Institution
9/23/2010
Insider
5,722,464
Daniel B.J. Kivari
Businessperson
11/11/2009
3/21/2013
3/21/2013
Director
600,000
Jean-Raymond Lavallee
Contractor
6/13/2014
9/16/2021
9/16/2021
Director
5,745,000
Eric Leboeuf
2/7/2008
11/11/2010
11/11/2010
Director
4,057,000
Ronald J. MacDonald
1/5/2012
6/13/2014
6/13/2014
Director
0
Charles B. Main
Accountant
11/7/2018
9/16/2021
9/16/2021
Director
80,000
Alykhan A. Mamdani
4/14/2009
12/1/2010
12/1/2010
Director
0
Karl Mansour
Broker
2/25/2009
Placee
273,000
Jean-Francois Meilleur
Investor Relations
1/19/2012
8/3/2018
8/3/2018
VP Corp Dev
2,422,000
Yannick Munn
4/14/2009
10/28/2009
10/28/2009
Director
0
Jean Rainville
Engineer
12/1/2010
3/21/2013
3/21/2013
Director
0
Michel Robert
Engineer
12/1/2010
6/13/2014
6/13/2014
Director
806,133
Richard Roussel
Broker
12/8/2009
Placee
50,000
Richard Saint-Jean
6/13/2014
9/16/2021
9/16/2021
Director
0
Sika Investments Ltd
Broker
12/8/2009
Placee
500,000
Judy Taylor
Broker
5/17/2010
Placee
15,000
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.
Active Index Memberships
Membership Start Date:
December 30, 2022
Start Price:
$2.07
KRO Favorites 2023: Features companies designated 2023 KRO Favorites, based on closing price December 30, 2022.
Membership Start Date:
December 31, 2018
Start Price:
$0.72
KRO James Bay Plan Nord Index: Features companies with a primary focus on the James Bay portion of Quebec's Plan Nord or an important project located within it.
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.
Net Interest: 100% WI Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: August 2009 agreement where, to acquire an initial 51% the company must pay to arm's-length parties a total of $30,000 and issue three million shares at the signing of the final agreement and upon regulatory approval; in addition to completing $300,000 in exploration and/or development work on or before the first anniversary of the signing of the agreement. On the first anniversary and the $300,000 work expenditure, First Gold will have acquired the 51-per-cent property interest and will have an option to acquire an additional 14-per-cent property interest by issuing one million shares to the vendors and complete $500,000 in exploration and development work on the property on or before the second anniversary. On the second anniversary date and the $500,000 work expenditure, First Gold will have acquired a 65-per-cent property interest and will have an additional option to acquire an additional 20-per-cent property interest by issuing one million shares to the vendors and complete $1-million in exploration and development work on the property on or before the third anniversary of the signing of the final agreement. Once vetted, First Gold will have acquired the 85-per-cent property interest and a joint venture would be formed with the vendors. The vendors will retain a 2-per-cent net smelter returns royalty of which 1 per cent could be bought back by First Gold for $1-million. If First Gold outlines a minimum NI 43-101-compliant mineral resource of 125,000 tonnes grading 0.8 per cent Li2O or more for 220 million pounds of Li2O, the company will then issue three million shares to the vendor. First Gold will be required to complete the initial payments and share issue as well as the first and second anniversary commitments, otherwise the claims will revert to the vendors.
Target Metals: Lithium Tantalum
Model: Pegmatite
Stage: 7-Permitting & Feasibility
Notes on Rose Project
The Rose property consists of a number of en-echelon pegmatites, individually up to 15 metres wide, crosscut by centimetric quartz veins. Spodumene and lepidolite (a potassium lithium aluminum silicate) can form centimetric lenses locally making up to 40 per cent of the pegmatites (MRNFQ, 2001). Grab samples contained up to 0.21 per cent (0.452 per cent Li2O) Lithium and 129 parts per million Beryllium.
Net Interest: 20% TC Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement Dec 23, 2020 to option up to 80% to Chilean Metals (Power Nickel) for 12,051,770 shares, $500,000 and $1.5 million exploration over 3 years to earn 50%, whereup Power Nickel can elect to go to 80% by spending $2.2 million and delivering a resource estimate over 4 years.
Net Interest: 30% TC Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: Critical Elements has optioned up to 70% to Lomiko Metals which can earn 49% by spending $1.3 million, issuing 5 million shares and paying $50,000 by Dec 31, 2022, and can increase to 70% by paying $250,000, spending $2 million, issuing 2 million shares and delivering a resource estimate by Dec 31, 2023. Critical Elements retains 2% NSR of which 1% can be bought for $2 million.
Net Interest: 25% TC Vested: Yes Uncapped NSR/GOR: 0.00%
Ownership Terms: Agreement Feb 11, 2016 where Lepidico can earn up to 75% by paying $85,000 cash, $500,000 worth in stock, spend $2 million by Dec 31, 2017 and deliver JORC resource to earn 50%, after which it can increase to 75% by completing a DFS by June 30, 2020 and paying $2.5 million in cash or stock. CRE retains 2% NSR of which half can be bought for $2 million. If JORC greater than 20 million tonnes at 0.6$ Li2O cutoff a $1.5 million payment is due.
Most recent 43-101 resource estimate 
Prior resource estimate 
PEA 
PFS 
FS/BFS/DFS
Flagship Play
Secondary Plays
Other Plays
