Hawkmoon Resources Corp. (CSE:HM)

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Company description

Hawkmoon Resources Corp. (CSE: HM)(OTC:GIDMF)(FRA:966) is a gold focused exploration company with assets in Quebec, Canada. The company’s primary project is the Wilson project, secondary projects are the Romeo and Lava projects, all located in Quebec, in the very prospective Abitibi Greenstone Belt, and is busy with their exploration programs on all three projects at the moment, with results expected this summer.

The company is led by CEO and founder Branden Haynes, who has 20 years of financial and IR experience, half of it related to the mining sector, focused on exploration. He is supported by VP Exploration Thomas Clarke, MSc, who led Bonterra to their maiden 1Moz Au NI43-101 compliant resource estimate on the Gladiator deposit, and has 16 years of experience as a geologist, and 11 years as a director of several public mining companies. The Hawkmoon team is completed by solid financial, IR and money raising professionals.   

Hawkmoon Resources is currently earning a 100% interest in their flagship Wilson project, which is optioned from Cartier Resources. Wilson has a small historic resource, to the tune of 43koz @7.1g/t Au, and has seen 107 drill holes to date, totalling 9,631m of historic drilling. Drill result highlights are 0.4m @ 64.6g/t, 4.6m @ 5.2g/t and 2m @ 6.3g/t, and samples like 31.3g/t, 94.8g/t and 297.9g/t, all gold values. In order to achieve the first year terms, the company must pay C$150k in cash, issue 700k shares, and incur C$0.75M in work expenditures on the property (3,000m of drilling) before the end of 2021. The agreement spans 5 years in total, and total payments and expenditures represent C$1M in cash, 5M shares and C$6M in exploration expenditures (24,000m of drilling). The company has budgeted C$1.1M for 2021 exploration programs, starting with 5,000m of drilling, planned for July 2021.

The Romeo project is another, more early stage exploration project, and is on strike with Osisko Mining’s Windfall deposit (5Moz+). Early stage reconaissance exploration suggests Romeo is located on the Bank Fault, as defined by Osisko. This project is optioned from North American Exploration, and encompasses total payments and expenditures of C$150k in cash, 1.5M issued shares, and C$1M in exploration expenditures. A budget of C$78k is allocated for 2021 here, mostly for trenching, planned for July 2021.

The third project of Hawkmoon is the Lava project, which is an early stage gold exploration project near the Belleterre project, owned by VIOR and Osisko Mining. The vendors are Marty Huber and Mark Fekete, the second person is a well-known geologist. Total payments and expenditures are C$115k in cash, 1.32M shares and C$500k in exploration expenditures. Hawkmoon has budgeted C$147k for this project for this year, for about 1,000m of drilling, scheduled for October 2021.

Hawkmoon Resources has a current cash position of about C$1M, and will likely have to raise additional funds before the end of Q4 2021. Most of this money will be used for further exploration, as management is very frugal and wants to spend as much on exploration as possible. Management owns 16.8% of shares, has institutional shareholders (12.92%), and CEO Branden Haynes is proud he knows all pre-IPO shareholders personally, as he was the one tirelessly pitching the Hawkmoon story to anyone who would listen.

Share price Hawkmoon Resources: