A Revival in Gold
TSX-V: RVG | OTC: RVLGF
Advancing the 4 Million-Plus Ounce
High-Grade, Pure Gold
Beartrack-Arnett Project, Idaho, USA
6.2 MILLION GOLD OUNCES COMBINED
Click Here to Read Sponsor Disclosure
Gold has been setting a series of all-time highs above US$2,600 an ounce as we head into the final few months of 2024. It’s all being driven by a positive shift in sentiment for the yellow metal as a powerful hedge against sticky inflation, long-term fiat currency debasement, and rising geopolitical uncertainty.
Investors are positioning for immediate and longer-term gains in the small-cap gold sector with a particular focus on companies with high-grade, district-scale gold projects in favorable Tier-1 mining jurisdictions such as the United States, Canada, and Australia.
The small-cap gold company featured in this Special Report, Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) is advancing the high-grade Beartrack-Arnett gold project (4.6 Moz Au; pure gold) located in the Tier-1 mining jurisdiction of eastern Idaho, USA. Beartrack-Arnett is regarded as the largest past-producing gold project in the state of Idaho with RVG moving swiftly toward a first-phase production restart with excellent infrastructure in place as you read this.
Beyond the current and impressive resource base, the discovery rate at Beartrack-Arnett is robust with the Revival Gold team amassing the second largest discovery of gold in the United States over the last decade. And on top of all that, the project boasts exceptionally low discovery costs of less than US$5 per ounce in the ground. With next-round drilling ahead, and with the yellow metal setting all-time highs above US$2,600 an ounce, now is an opportune time for speculators to get to know this extraordinarily well-run and well-positioned US-focused gold exploration and development firm.
2024 Gold Bull Market
Gold is continuing to set all-time highs in 2024 above US$2,600 per ounce as sentiment has shifted strongly in favor of the yellow metal in the face of stubborn inflation and heightened geopolitical volatility.
In fact, gold has rocketed from a year-to-date low of US$1,993 on 13 February to US$2,327 at the end of Q2 to currently above US$2,600 per ounce — a more than 30% upward move from its February low.
We believe a number of key fundamentals are firmly in play for gold to trek even higher — potentially beyond US$3K per ounce — over the near to mid-term.
Among those key drivers is the high level of central bank gold buying we’ve been witnessing of late. In fact, over the last few quarters, central banks have been buying gold bullion at record levels — more than 3X the long-term average.
Factors influencing the stark increase in central bank gold buying include the pressing need to diversify reserves in light of potential sanctions and the risk of foreign exchange reserve seizures.
Looking at China alone, central bank gold purchases have been very strong, in fact, up 30% last year amid growing tensions with the United States coupled with a weakening Chinese economy.
Additionally, Chinese citizens bought over 600 tons of gold jewelry in 2023 — a 10% increase from the prior year.
If you’ve been reading the headlines, then you know Russia has been buying gold hand-over-fist in an effort to fund its war machine in Ukraine amidst economic sanctions from the US, and others, targeting its energy sector. The country also recently pegged its currency, the ruble, to gold.
In terms of investor interest, we are finally beginning to see generalists return to the gold sector. For those who closely follow the precious metals space, this has been a long-time coming.
And by generalists, we’re referring mostly to Western investors who’ve all but shunned the yellow metal in favor of other non-traditional asset classes, including Bitcoin, for multiple years in a row now.
With pundits christening Bitcoin as the new “Digital Gold,” it seemed — until very recently that is — highly unlikely we’d get this level of Western-driven impetus in the gold price.
Yet, against most odds, and against virtually all talking heads, it does indeed look as though generalists are beginning to make their way back to the yellow metal.
There are a couple of clear signals that back up that premise.
One, open interest on COMEX has ratcheted higher in recent trading. And secondly, the GLD ETF (SPDR Gold Shares) has added to its holdings over the same timeframe. Those two factors combined represent the most illuminating proxy you can find for increased gold demand from Western coffers.
Another major tailwind forming in the gold space is an easing by the Fed. After suffering through one of the most oppressive rate hiking cycles in history, we’ve now entered into a cycle of rate cutting, which is generally considered positive for gold as a non-yielding asset.
It’s worth bearing in mind, as well, that any spirited push toward US$3K and beyond will not come without a series of intermittent pullbacks. In essence, what we’ll be looking for is for the yellow metal to set a new higher floor, ideally above US$2,575 an ounce, from which to build off of.
Legendary resource financier, investor, and staunch gold proponent Rick Rule often says:
“The strongest bull markets don’t shoot straight up… they grind higher.”
We wholeheartedly agree.
And what it points to is that those intermittent pullbacks in the gold price should be looked at as a predictable and healthy component of a longer-term bull market for the world’s most sought after precious metal.
With all that being said, and with gold trading above US$2,600 for the first time in history, an opportunity is arising for speculators seeking exposure to the yellow metal, particularly in the small-cap space.
Enter Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF).
Revival Gold: Key 2024 Acquisition Makes RVG One of the Largest Pure Gold Development Firms in USA
Led by president & CEO Hugh Agro — whom you’re about to meet in our exclusive, late-breaking interview coming right up — Revival Gold is one of the most remarkable US-focused junior gold development stories we’ve seen in some time.
With its flagship, 100%-owned Beartrack-Arnett gold project situated in eastern Idaho, the mining address is very favorable as a Tier-1 jurisdiction that’s consistently ranked in the Top-10 in the world for investment in mining by the Fraser Institute.
The state of Idaho itself boasts around 30 million ounces of undeveloped gold, making it one of the best places in North America for gold exploration, development, and production.
Beartrack is regarded as Idaho’s largest past-producing gold mine with “pure gold” mineralization associated with a large, northeast-trending regional structure known as the Panther Creek Shear Zone.
And by pure gold, what we mean is that the paying metals in the ore at Beartrack-Arnett are limited to just gold, which is a favorable and fairly rare occurrence in the industry.
As a past-producer under the Meridian Gold banner, the 5,800-hectare Beartrack-Arnett project boasts excellent infrastructure in place including an ADR plant (gold processing facility), an 11,000 sq ft core facility, solution ponds, hydropower, and a water treatment facility. Plus, the property is situated just 10 miles from the town of Salmon, Idaho, making for an easy drive with roads all the way into the main project area.
With a focus on resource expansion via the drill-bit, Revival Gold has systematically grown the resource at its flagship Beartrack-Arnett gold project in eastern Idaho from:
- An initial ~2 million ounce gold resource in 2018
- to ~3 million ounces in 2020
- to ~4.6 million ounces in 2023-24
- All at a discovery cost of less than US$5 per ounce in the ground
Last year, Revival successfully increased Measured & Indicated (M&I) Mineral Resources at Beartrack-Arnett to 86.2 million tonnes grading 0.87 grams per tonne (g/t) gold containing 2.42 million ounces of gold (Moz Au) and Inferred Mineral Resources to 50.7 million tonnes grading 1.34 g/t gold containing 2.19 Moz Au.
That mineral resource update brought the combined resource to roughly 4.6 Moz Au across all categories.
Today, with the highly-accretive May 2024 acquisition of privately-held Ensign Minerals Inc. (for ~61 million RVG shares) and the associated Mercur Gold Project, Utah, Revival Gold is sitting on a combined gold resource of ~6.2 Moz Au across all categories — making Revival Gold one of the largest gold development companies in the United States.
Importantly, the Mercur property sits just 560 km south of Revival’s flagship, Idaho-based Beartrack-Arnett gold project (see property map above), making for an ideal setup with potential for heap leach gold production synergies across the two formerly-producing mine sites.
You’ll be hearing a lot more about those synergies in our exclusive interview with Revival Gold president & CEO Hugh Agro coming right up.
Yet, before we get to that, it should be noted that Revival’s 5,800-hectare Beartrack-Arnett property, alone, boasts ~4.6 million ounces of gold across all categories with all of the known deposits remaining open along strike and at depth.
Hence, with the deposits remaining wide open, the Beartrack-Arnett property continues to offer immense exploration upside — well beyond the most recent expansion from 2 Moz Au to 4.6 Moz Au — making it one of the largest undeveloped gold discoveries in the western United States over the past decade.
As a significant past-producer with advanced infrastructure in place, the timeline to pending production should be that much faster.
And to that end, the Revival Gold team has been making steady progress toward an open pit heap leach restart at Beartrack-Arnett bolstered by last summer’s Preliminary Feasibility Study (PFS), which successfully outlined a low-cost, phased development approach focused initially on the near-surface heap leach mining component.
Much more on that in just a moment.
Looking slightly ahead, and by bringing the 6,255-hectare Mercur gold project into the portfolio, RVG is now looking at:
- A combined open pit heap leach production target (Beartrack-Arnett + Mercur) of 150,000 ounces of gold per year
- Potential to expand to greater than 250,000 ounces of gold per year with the addition of underground material
Mr. Hugh Agro commented on the strategic acquisition of Ensign Minerals and the associated Mercur Gold Project via press release:
“With the addition of Mercur, we expect to shorten our estimated timeline to heap leach gold production while increasing the potential production scale of Revival Gold’s heap leach gold business to approximately 150,000 ounces per year. The combined Mineral Resource will vault Revival Gold ahead to become one of the largest, pure gold, development companies in the United States. We are pleased to be entrusted by Ensign’s shareholders with the future development of Mercur.”
Hugh went on to say,
“The Transaction is a ‘win-win’ outcome for all concerned creating a clear path for Revival Gold to unlock significant value for shareholders by potentially expediting the path to become a mid-tier open pit heap leach gold producer. With Mercur, Revival Gold will obtain a high-quality complementary project at an attractive acquisition price of about US$10 per ounce in situ. Incorporating an asset that brings forward Revival Gold’s potential production date marks a considerable enhancement to the value, risk profile, and upside for the Company.”
The Mercur property hosts a Carlin-type Inferred Mineral Resource of 89.6 million tonnes grading 0.57 g/t gold containing 1.64 Moz of gold.
The property hosts a past-producing gold mine with 2.6 million ounces mined by Getting Oil — and later by Barrick — until low gold prices at the time forced its closure in 1998.
Again, it bears repeating that, combined, Revival Gold will now have 6.2 million ounces of gold across all categories, creating “one of the largest, pure gold, development companies in the United States.”
And it doesn’t hurt with the yellow metal currently trading at record highs above US$2,600 per ounce.
Further, Mercur’s location on predominantly patented/private claims in a semi-arid zone with existing infrastructure in place is deemed ideal for permitting and is expected to accelerate Revival’s goal of becoming a mid-tier heap leach gold producer via an intelligently-crafted phased development approach.
What it amounts to is the potential for a future hub-and-spoke mining model in the western United States with Revival Gold aiming for near-term production from near-surface resources from both Beartrack-Arnett and Mercur with plans to truck ore from Mercur to the company’s ADR processing plant located at Beartrack-Arnett.
This type of mining model is designed for logistics-based cost efficiencies that should go right to RVG’s bottom line.
Concurrent with the Ensign/Mercur acquisition, RVG has successfully completed a private placement resulting in gross proceeds of C$7.16 million. There are also four US$5 million annual payments due to Barrick for the Mercur option, commencing in 2026.
With that funding now in place, next steps will include utilizing the existing gold resource at Mercur to conduct a Preliminary Economic Assessment (PEA), slated for completion by Q1 2025, along with continued exploration and permitting efforts at Beartrack-Arnett.
In support of the planned Mercur PEA, Revival is wrapping up the electronic scanning of ~1,900 historical drill logs, which will be used to further validate the Mercur database and develop a geo-metallurgical model.
The RVG team has also received positive metallurgy test results from the site: Gold extraction rates came in at 85%, 85%, 74%, 92%, and 82% across five column leach tests, demonstrating that Mercur host rocks are amenable to cyanide leaching for the recovery of gold.
Mr. Hugh Agro commented:
“We are very pleased with today’s metallurgical test results. The mid-80’s percent average extraction rate and rapid leach kinetics for the five columns tested bode well for the upcoming Mercur PEA.”
The results will be used to support heap leach recovery rate assumptions for inclusion in the forthcoming Mercur PEA.
Flagship Beartrack-Arnett Gold Project: A Closer Look
In Q3 2023, Revival Gold completed a Preliminary Feasibility Study (PFS) on the potential 1st phase restart of open pit heap leach operations at Beartrack-Arnett.
The study envisions a high return project: 24.3% after-tax NPV (5%) at US$1,800/oz gold. And, of course, as we noted earlier, gold is now trading approximately 30% higher than where the study was conducted.
Another key point to understand is that Revival’s 4.6 Moz Au Beartrack-Arnett gold project in eastern Idaho is both an exploration and development play.
Vast Exploration Upside
On the exploration side, we’re talking about a 5.6-km-long shear zone with consistent drilling success across the entire strike length wherein RVG has more than doubled the size of the resource — from 2 Moz Au to 4.6 Moz Au — since 2018.
Focusing on the left side of the above schematic, the Joss and South Pit zones combine for approximately 2 km of trend wherein Revival has consistently hit intervals of over 5 g/t gold.
The South Pit Zone is part of an open pit whereas the Joss Zone is more of an underground development target.
With the main deposits remaining open along strike and at depth, the exploration upside continues to be robust at Beartrack-Arnett.
Drilling to-date has ranged from roughly 400 to 600 meters depth with the deposits showing potential for deeper mineralization up to a depth of 2-km-plus, which is typical of these orogenic (hydrothermal) gold systems.
At the Joss Zone, the RVG team has drilled a number of exceptionally high-grade gold intercepts, highlighted by:
- Over 1km of strike; open at depth and to the north and south.
- 20 drill holes with an average grade of just under 3 g/t Au (over 45 meters drilled width) and, within that, a confirmed mineralized core at just under 8 g/t Au (over 5 to 6 meters of drilled width).
- Deeper drilling (in 2022) to approximately 200 meters below the block model intersected 10 g/t Au over 11 meters, plus another 6 g/t Au over 12 meters, all within 115 meters of 3.5 g/t Au.
Results to-date show not only the high-grade nature of the deposit but also the potential for the Joss Zone to host additional high-grade Au mineralization at depth to be targeted in future drill rounds for resource expansion.
And speaking of growing the resource, on 21 February 2024, Revival Gold increased its land position to the south of the Joss Zone (situated at the south end of the Beartrack-Arnett project area) with the addition of 57 lode mining claims spanning 476 hectares.
Importantly, the newly-added claims encompass the Panther Creek-Coiner Fault System, which extends ~5 km south of Joss and is being evaluated by the RVG team as a braided fault system typical of the structures that host many orogenic gold deposits around the world.
Chief among the newly-defined targets is the Sharkey target, which is located within the Panther Creek Structural Corridor approximately 2 km south of the existing underground mineralization in the Joss target area (see below).
The Revival Gold team believes the Sharkey target could host similar, or perhaps even greater tonnage and grade to what has been discovered to-date at Joss.
An additional program of field mapping and scout drilling is being prepared to further evaluate the Panther Creek-Coiner Structural Corridor (including the Sharkey target) south of Joss.
Revival Gold CEO Hugh Agro commented on the property expansion via press release:
“Revival Gold’s recent work analyzing and modeling geophysical and geological data from the south end of Beartrack-Arnett has sharpened our exploration team’s focus on the Panther Creek-Coiner Fault braided fault system. The Sharkey target has emerged as a high-value under-cover target with tonnage and grade potential equivalent to, and perhaps greater than, what we have at Joss. Sharkey lies within Revival Gold’s approved Plan of Operations permit for drilling at Beartrack-Arnett and represents a high-priority target for follow-up exploration this season.”
In July 2024, Revival announced the completion of a 42-line-km IP ground geophysical survey south of the high-grade and high-priority Joss Zone, which includes the aforementioned Sharkey target.
Additionally, the company completed a 47-line-km magnetics ground geophysical survey over the Ridge and Shenon Gulch targets in the Arnett area to help define potential structural controls on mineralization in the area.
Data processing and interpretation of those two surveys is underway.
Near-Term Development
On the development side, the RVG team is deploying a strategic, multi-phase approach with a focus on creating a low-cost production profile starting with near-surface ore:
1st phase: Planned restart of open pit heap leach gold production (7-9 year mine life) at the Haidee Zone; modest capex of roughly C$100M (from 2020 PEA) utilizing existing infrastructure with projected target production of 60,000 to 70,000 ounces of gold per annum.
Note: Those production targets have since been increased to ~150 Koz Au per annum with the addition of the newly-acquired Mercur gold project in Utah.
2nd phase: Ramping up to greater than 200,000 ounces of gold per annum.
Here, RVG is currently advancing conceptual plans for a potential 2nd phase underground operation by completing further metallurgical testing and demonstrating gold recoveries of ~93% to concentrate from a composite of high-grade sulphide material in the underground resource.
And speaking of the Haidee Zone and the pending 1st phase heap leach restart, the RVG team, last year, completed a total of 18 core holes for 3,350 meters of exploration drilling focused on near-surface oxide gold opportunities in the broader Haidee area.
Results from that program included 3.93 g/t gold over 20.6 meters in a potential feeder structure on the western flank of Haidee.
Mr. Agro added,
“We exit 2023 having delivered on key tactical objectives for the year. The updated and improved resource, completion of a PFS on the potential first phase restart of operations, de-risking of the potential second phase underground concept, and favorable exploration drilling results returned during the year, mark solid progress…”
Clearly, there are a lot of exciting developments in-play for RVG for the final quarter of 2024 and beyond.
Led by a highly-adept team of professional geologists and mining engineers, Revival Gold continues discover high-grade gold via the drill-bit — all at a finding cost of less than US$5 per ounce in the ground — with potential for expanding the NI 43-101-compliant resource well beyond the current 4.6 million ounces (M&I plus Inferred) in the next drill rounds.
We talked at length about the acquisition of Ensign Minerals and the associated 1.64 Moz Au Mercur gold project. That highly-accretive acquisition is now setting the stage for a potential future cost-efficient hub-and-spoke mining model for RVG in the western United States.
We also introduced you to Revival Gold president & CEO Hugh Agro… and it is now time to hear from the man himself.
Exclusive Interview with Revival Gold
President & CEO Hugh Agro
Led by president & CEO Hugh Agro, B.Sc., MBA, P.Eng., Revival Gold boasts a highly-experienced management and technical team with a long history of mining success in the North American precious metals sector.
Hugh is a former executive with majors Kinross and Placer Dome, so, needless to say, he knows his way around a precious metals deposit.
Hugh is joined by VP Engineering & Development John Meyer, B.Sc., P.Eng., who boasts 30-plus years in the industry having served in senior and international project management positions, leading multi-disciplinary teams with gold majors including Barrick and Kinross.
Steve Priesmeyer, B.Sc., M.Sc., a 30-plus-year industry veteran, leads as VP Exploration and was most recently credited with delineating a 30 Moz Ag resource at Soltoro’s El Rayo silver project in Mexico.
General manager Pete Blakeley, B.Sc., again with 30-plus years in the industry, spent ten years with Meridian Beartrack Co., most recently as site manager at the Beartrack gold project, and knows Beartrack-Arnett perhaps better than anyone on the planet.
The RVG geological team is rounded out by industry veteran and chief geologist Dan Pace, B.Sc., M.Sc., a proven exploration leader and data-oriented geologist with a wide breadth of technical experience and a 15-year track record of project generation and ore deposit discovery.
You can learn more about the full Revival Gold team here.
Now, as promised, our own Gerardo Del Real of Resource Stock Digest and Junior Resource Monthly took the opportunity to sit down with Revival Gold president & CEO Mr. Hugh Agro at the Beaver Creek Precious Metals Summit in Colorado to discuss Beartrack-Arnett, the newly-acquired Mercur gold project, and much, much more.
Please enjoy our exclusive in-person interview.
Gerardo Del Real: This is Gerardo Del Real live from the 2024 Beaver Creek Precious Metals Summit. Joining me today, on a historic day, is the CEO of one of the most undervalued gold plays in the entire resource space. I'm talking, of course, of Mr. Hugh Agro, CEO of Revival Gold. Hugh, so good to catch you in person.
Hugh Agro: Good to be with you. Historic day. I love it.
Gerardo Del Real: Historic day, historic record gold price, the highest it's ever been.
Hugh Agro: It's auspicious and I've never felt more confident about our story.
Gerardo Del Real: Well, the story keeps getting better. You had a transformational change that happened earlier this year that I know was very intentional. A lot of thought went into it, and I think the market is finally going to start understanding the intent behind it. We're starting to see M&A pick up. We’re starting to see record high gold prices on a weekly to monthly basis.
I think now the mid-tiers and the majors are looking for companies that have production profiles that have scale, that are in great jurisdictions, and companies that could be profitable quickly. And Mercur really was a game-changer and checks a lot of those boxes. Can you talk to us about the intent that went into that?
Hugh Agro: Yes, it sure does check a lot of boxes. First of all, 1.6 million ounces of heap leachable gold that more than doubled our heap leachable gold. And if you remember the transaction metrics, we gave up a third of our market cap to be able to do that. So very accretive on that basis for our shareholders.
Secondly, it's on private ground. And that's very important in the United States because we want to move these projects through permitting. And you can do that so much more quickly through state regulators than through the more cumbersome federal process.
Lastly, we've picked up a district. This is a Carlin-type deposit. These things are rare. In the state of Nevada, these are the projects that lead to multi-million ounce discoveries. And this one hasn't been touched in any way, shape, or form since the nineties. And so lots of new exploration techniques can be brought to bear. In the meantime, we've got 1.6 million ounces of gold, and we're marching that through a PEA.
Gerardo Del Real: Clearly, the intent with Mercur was to check a lot of those boxes. You now check the infrastructure box, you check the heap leachable box, and you're going to check the margin box because the economics look good at lower gold prices. And I suspect we’ll get continued record high gold prices.
We've seen Idaho recently issue a key permitting decision for Perpetua Resources. That was received very well by the market. So a great time to be in Idaho. A great time to have heap leachable gold.
How do you prioritize the amazing exploration upside that you now have with the mandate to also try and get into production as quickly as possible and capture the sweet spot of that profit cycle?
Hugh Agro: Well, first, a call-out to you and your subscribers for being involved in Perpetua and enjoying the upside in that project. It's a wonderful milestone for Perpetua. They had to go through a lot of hoops to get that permit. We're in a much more simple setting.
Gerardo Del Real: Right.
Hugh Agro: And of course, we have the support of the local community. We have an existing plan of operation. And, as you picked up, a key aspect for Revival Gold is to go to these locations where we've got existing infrastructure, which lowers the risk and improves timelines to permitting. And of course, it makes for lower capital costs to get over that barrier.
But going back to Perpetua and the success of that permitting milestone, that's great for Idaho, and it's great for us. It demonstrates that this is a state that's got a lot of future in gold. And it makes us a standout as we think about the potential for a revaluation of the Beartrack-Arnett asset in the wake of that great success at Perpetua.
Gerardo Del Real: What comes next? You had some excellent metallurgical results at Mercur recently, and I know we're going to close the year out really strong.
Hugh Agro: Yes, that's the first step. We acquired the project in May. We got immediately to work with five column tests; 84% average extraction rates from those columns on a half-inch crush for the heap leach. That's important because that data is used to input into the economic study.
We'll work through the engineering steps and the geological modeling as next steps in the process. But we're lined up for a PEA by the end of the first quarter of next year. And why is that important? It converts ounces into NAV [Net Asset Value] that shows the pathway to free cash flow.
Gerardo Del Real: I’ve got to believe you have potential strategic partners that want to dance and that, at the very least, are knocking at the door and ringing your phone line. How have those meetings progressed? And I know you can only comment so much.
Hugh Agro: Yes, as you know, we're pretty active on that front. We've got an A-Class board, and we've got some great connections with the senior gold industry. And these guys are aware of what we're doing. A number of them are active in our data room and have been out to this project. And we like to keep them all up to speed on what we're doing.
At the right time and place, you'll see us be active with those guys, with peers, and with the potential M&A. It's just a matter of choosing the right time and the right place. I think we’ve got a lot of upside in our stock, and I've never been more confident about where we are today.
We have a great underlying arrangement on our Beartrack property that's been recently retooled to our favor. It's a win-win deal. We've got these metallurgical test results. We've got a PEA on the come. Lots of milestones. And this is going to be an exciting next six months, I believe.
Gerardo Del Real: I'm excited. I can't wait. Hugh Agro, thank you very much.
Hugh Agro: Thanks, Gerardo.
The Revival Gold Opportunity
Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) is advancing the high-grade Beartrack-Arnett gold project (4.6 Moz Au; pure gold) located in the Tier-1 mining jurisdiction of eastern Idaho, USA.
The company’s 100%-owned Beartrack-Arnett is regarded as the largest past-producing gold project in the state of Idaho with the company moving swiftly toward a first-phase heap leach production restart via a phased approach.
Beyond the current and impressive resource base, the discovery rate at Beartrack-Arnett is robust with the RVG team amassing the second largest discovery of gold in the United States over the last decade.
And as discussed, the project boasts exceptionally low discovery costs of less than US$5 per gold ounce in the ground.
Revival recently put the finishing touches on its strategic acquisition of Ensign Minerals and the associated Mercur gold project, bringing the combined resource between the two projects to ~6.2 Moz Au across all categories — making Revival Gold one of the largest pure gold development companies in the United States.
You heard directly from Revival Gold CEO Hugh Agro. He says:
“I think we’ve got a lot of upside in our stock, and I've never been more confident about where we are today. We have a great underlying arrangement on our Beartrack property that's been recently retooled to our favor. It's a win-win deal. We've got these metallurgical test results. We've got a PEA on the come. Lots of milestones. And this is going to be an exciting next six months, I believe.”
With the yellow metal currently setting all-time highs above US$2,600/oz, there’s little doubt that larger players in the North American gold mining space are keeping a close eye on RVG’s pending mine restart at Beartrack and its pending heap leach restart at the Haidee Zone.
It’s the type of district-scale, Tier-1-hosted brownfields operation that could have implications across the broader precious metals mining sector as firms seek to reignite other high-grade, past-producing pure gold (and polymetallic precious metals) mines across North America and globally in the current $2,600+ per ounce gold market.
As Idaho’s largest past-producing gold mine, Beartrack-Arnett offers a multitude of advantages over the typical greenfields exploration project, including an ADR plant (gold processing facility), an 11,000 sq ft core facility, solution ponds, hydropower, and a water treatment facility — not to mention the 4.6 million gold ounces and counting.
Those distinct advantages should come squarely into play as RVG advances toward a 1st phase restart of heap leach gold production.
Revival Gold is well-structured with less than 250 million shares outstanding on a fully-diluted basis.
The company is also well-funded to complete its near-term objectives — which include a PEA at Mercur plus continued exploration and permitting efforts at Beartrack-Arnett — having recently raised more than C$7 million via private placement [estimated cash at 30 June 2024 of C$5.3M].
Revival Gold is also well-owned by financial institutions, including some of the top gold investment firms in the space at 44% of outstanding shares; RVG management and board own an additional ~15% of outstanding shares.
With gold setting all-time highs above US$2,600/oz as we head into the final few months of 2024, now is an excellent time to begin conducting your own due diligence on Revival Gold Inc. — symbol RVG on the Toronto Venture Exchange and symbol RVLGF on the US-OTCQX Bulletin Board Exchange.
A great place to start is Revival Gold’s corporate website.
There, you can sign up to receive updates directly from the company, view the most recent Corporate Presentation and much more.
Be sure to also follow our ongoing coverage and our exclusive interviews with upper management here.
— Resource Stock Digest Research
IMPORTANT DISCLAIMER & DISCLOSURES
Resource Stock Digest, as a publisher, is not a broker, investment advisor, or financial advisor in any jurisdiction.
Please do not rely on the information presented by Resource Stock Digest as personal investment advice.
If you need personal investment advice, kindly reach out to a qualified and registered broker, investment advisor, or financial advisor.
The communications from Resource Stock Digest should not form the basis of your investment decisions. Examples we provide regarding share price increases related to specific companies are based on randomly selected time periods and should not be taken as an indicator or predictor of future stock prices for those companies.
Revival Gold Inc has sponsored this report.
The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of a corporation or entity, including U.S. Traded Securities or U.S. Quoted Securities, in the United States or to U.S. Persons. Securities may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the corporation or entity and its management as well as financial statements. No securities regulatory authority in the United States has either approved or disapproved of the contents of any newsletter. Resource Stock Digest nor any employee of Resource Stock Digest is not registered with the United States Securities and Exchange Commission (the “SEC”): as a “broker-dealer” under the Exchange Act, as an “investment adviser” under the Investment Advisers Act of 1940, or in any other capacity. Resource Stock Digest, its owners, directors, and employees are also not registered with any state securities commission or authority as a broker-dealer or investment advisor or in any other capacity.
HIGHLY BIASED:
In our role, we aim to highlight specific companies for your further investigation; however, these are not stock recommendations, nor do they constitute an offer or sale of the referenced securities. Resource Stock Digest has received cash compensation from Revival Gold Inc and is thus extremely biased. It is crucial that you conduct your own research prior to investing. This includes reading the companies' SEDAR and SEC filings, press releases, and risk disclosures. The information contained in our profiles is based on data provided by the companies, extracted from SEDAR and SEC filings, company websites, and other publicly available sources.
Resource Stock Digest, and its owners, directors, employees, and members of their households may own shares of Revival Gold Inc. Therefore, Resource Stock Digest is extremely biased. Measures are in place such that no shares will be sold during the active awareness campaign.
HIGH RISK:
The securities issued by the companies we feature should be seen as high risk; if you choose to invest, despite these warnings, you may lose your entire investment. You must be aware of the risks and be willing to accept them in order to invest in financial instruments, including stocks, options, and futures.
NOT PROFESSIONAL ADVICE:
By reading this, you agree to all of the following: You understand this to be an expression of opinions and NOT professional advice. You are solely responsible for the use of any content and hold Resource Stock Digest, and all partners, members, and affiliates harmless in any event or claim. While Resource Stock Digest strives to provide accurate and reliable information sourced from believed-to-be trustworthy sources, we cannot guarantee the accuracy or reliability of the information. The information provided reflects conditions as they are at the moment of writing and not at any future date. Resource Stock Digest is not obligated to update, correct, or revise the information post-publication.
FORWARD-LOOKING STATEMENTS:
Certain information presented may contain or be considered forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in these statements. There can be no assurance that any such statements will prove to be accurate, and readers should not place undue reliance on such information. Resource Stock Digest does not undertake any obligations to update the information presented or to ensure that such information remains current and accurate.