Goldshore Resources Offers Compelling Prospects In A Favourable Gold Market

Jim Gordon

Hi, I'm Jim Gordon, and you're watching Market One Minute. Joining us is Brett Richards, CEO and Director of Goldshore Resources Inc. Brett, welcome.

Brett Richards

Hi Jim. Thanks for having me on.

Jim Gordon

It is great to have you. Okay, Brett, how do you view Goldshore Resources relative to your peers?

Brett Richards

Well, just recently, on May the 8th, we put out a mineral resource update of 6 million ounces at 1.02 grams, and contained within that is 3.35 million ounces at 1.84 grams per ton. So that would be considered a higher grade as compared to our peers. So we'll be focusing on that as we do our PEA.

But when you translate all that into the investment opportunity, we're trading at $7 an ounce today, which is significantly depressed from our peers. Our peers are trading at $30, $35 an ounce, and our high-grade peers are trading at $80, $90, and some over $100. And I would classify our project as being in the higher-grade category. So I think there's a real opportunity here to re-rate Goldshore maybe a couple of times to calibrate to our peers.

Jim Gordon

And Brett, how difficult is it to raise capital these days, and what are you doing to mitigate that?

Brett Richards

It's extremely difficult. Given the geopolitical and the macro situation that emerged in February of last year, a lot of investors went risk off. And it meant the market performed as it did, down 20% last year. But gold and gold equities, gold equity, specifically, juniors were off 50% and 60%. So raising money at depressed share prices is very difficult, especially in a risk-off environment. So we ended up having to raise small amounts of money more frequently in order to kind of mitigate that problem.

Jim Gordon

And how do you think the junior mining sector will get out of the current dynamic of serial raising capital?

Brett Richards

I think we're seeing it now. The majors have started to recover from their lows of September.

So you see, the majors are up over the last kind of 8 to 10 months. And I think we're starting to see maybe a little bit of traction in the junior space based on the high-quality projects are starting to get rewarded. And I believe, you know, we will get rewarded for the quality of our projects. So I think we're starting to see some valuation increases in some of the key, junior mining companies with good projects.

Jim Gordon

And Brett, do you have any company initiatives in the area of ESG?

Brett Richards

Absolutely. We engaged with our host community, First Nations, well before we listed in 2021,

and we've been working with them for several months. And we have regular updates with both our two host communities, who we have exploration agreements with. So I think, you know, as we move forward, we'll be progressing collaboratively and inclusively with them. We give priority employment to our First Nations partners. And we also work with their affiliated contractors. Our environmental baseline work in everything we do is with a First Nations affiliated contractor.

Jim Gordon

And finally, what makes Goldshore such an attractive investment?

Brett Richards

Well, I think today we have seen kind of the bottom of where we are going to trade in a very difficult environment. And there's tremendous upside on the resource we have, and we've just scratched the surface on the size and scale, and potential of our land package. So not only do we have tremendous valuation upside, we have tremendous project upside and tremendous, you know, potential within our land package on the 30 high-priority targets we still have to drill.

Jim Gordon

Brett, thanks for joining us.

- Thanks, Jim. Thanks for having me.

ABOUT GOLDSHORE RESOURCES INC.:  

Goldshore Resources Inc. GSHR GSHRF is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario.

 

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