After acquiring the neighbouring Goldlund open pit project from First Mining Gold, Treasury Metals (TML.TO, TSRMF.US) has been busy ever since to integrate both projects into a single open pit-underground project with synergies whenever possible. After hiring Ausenco, a reputable engineering firm, and appointing a new President and CEO, Jeremy Wyeth, who has lots of experience in building mines, the company worked diligently for 6 months on an integrated Preliminary Economic Assessment (PEA) for both projects.
Like most projects around the world, Treasury Metals (TML.TO, TSRMF.US) has temporarily slowing down and shutting down drilling at their Goliath Gold project in Ontario, caused by the omnipresent COVID-19 pandemic, but as it has been completing over half of their drilling program before the virus broke out, it has been reporting several sets of drill results so far this year, and still has a few batches to come. Most of the intercepts are solid, nothing spectacular, but in line with the existing resource.
Sometimes I come across a familiar name that seems to be around forever, not achieving remarkable highs or lows, just following its course quietly like a small river or creek. In those cases I often look in vain for upcoming catalysts, as such companies usually don’t have fast-tracking mentioned in their dictionairies. However, this time it is a bit different. Treasury Metals (TML.TO, TSRMF.US), the company to be discussed in this analysis, has seen a long and slow trajectory on its Goliath Gold project in Ontario since 2010, in large part caused by a longwinding Environmental Impact Assessment process.