Gold is up $13.30 this morning to a new 5 1/2 month high of $1,360 per oz!
Ten days ago when gold hit a new 5 month high of $1,355 per oz, NIA's #1 stock suggestion for 2019, Fiore Gold (TSXV: F) reached a high of $0.425 per share. Today, gold is at a higher price of $1,360 per oz, yet Fiore is at an artificially low price of $0.305 per share. Fiore is reaching higher highs and higher lows and will surpass $0.425 very soon - we are 1,000% sure of it!
Fiore's current market cap is only CAD$29.8 million when it has CAD$23.37 million in positive working capital. This means it is only receiving CAD$6.43 million in value for its Pan Gold Mine, when it is expected to produce 50,000 oz of gold in 2019, which will equal full year 2019 revenue of USD$63 million or CAD$84.86 million based on current gold prices!
Fiore's Pan Gold Mine is generating large profits from mining operations with HUGE positive operating cash flow. It currently has a measured/indicated gold resource of 432,000 oz of which 223,000 oz is a proven/probable reserve. It also has an additional inferred resource of 110,000 oz.
Fiore is receiving absolutely no value for its Gold Rock project that is adjacent to the Pan Gold Mine. It is one of Nevada's only fully permitted non-producing gold projects. It has a measured/indicated gold resource of 238,700 oz plus an additional inferred resource of 180,900 oz. Its average gold grade is 64% higher than the Pan Gold Mine! Once in production, it will more than double Fiore's annual gold production to over 100,000 oz per year!
Fiore also owns three earlier stage gold exploration projects: Golden Eagle in Washington State (previously owned by multi-billion dollar mining companies Newmont and Kinross), Cerro Tostado in Chile (previously owned by multi-billion dollar mining company SQM), and Rio Loa in Chile. Just these three projects alone in NIA's opinion are worth far more than Fiore's current market cap. Right now, these three projects are being valued at less than zero!
Frank Giustra one of the most successful mining investors in world history is the investor who put Fiore Gold together and recruited an all-star management team including Fiore's CEO Tim Warman and COO Ross MacLean - who left their upper management roles at Dalradian and Taseko Mines, respectively (two $500 million market cap mining companies), to join Fiore!
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