You have to hand it to them, the timing of Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN) announcing their maiden resource estimate (MRE) on their Independence project in Nevada is pretty good, as precious metals sentiment becomes increasingly more positive, and other assets like bitcoin just seemed to have bowed out as a serious alternative, after getting into a tailspin of epic proportions, losing over 25% of value in one day. So far Frank Giustra seems to have won the gold vs. bitcoin debate with Michael Saylor for now.
Golden Independence Mining
Although gold has to battle higher interest rates, a stronger dollar and Bitcoin beating all time highs as I am writing this, Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN) doesn’t appear to get fazed, and apparently has no trouble raising cash. On April 9, 2021 it closed a private placement of C$2.8M, enabling it to do much more drilling this year, and potentially grow the resource even more on their Independence gold project in Nevada. The company was already financed to do a maiden NI 43-101 compliant resource estimate which will be coming out in weeks, and a PEA before year end.
In the meantime, drilling is advancing in good fashion, almost every hole returning economic intercepts, verifying and expanding the historic 1.07Moz gold resource which has the usual hallmarks of a typical Nevada deposit: near surface, heap leachable oxides and deeper, higher grade sulfides. Let’s have a look at their progress so far.