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Prezados Leitores,
Existem certos modelos de negócios testados pelo tempo que têm uma alta probabilidade de levar a grandes recompensas para os primeiros shareholders. Mas nem todos conseguem. Na verdade, poucas pessoas conseguem.
É por isso que estou prestes a apresentar uma empresa cuja equipe de gestão conseguiu transformar suas $0.13 stock em um $3.00 buyout em menos de 12 meses – um retorno potencial de 2215%.
Um $10,000 investment poderia ter lhe rendido $221,500.
Essa mesma equipe está dando aos investidores outra oportunidade. Só que desta vez eles são ainda maiores… e melhores.
Sua empresa recém-formada agora possui uma das maiores posições de terra no Abitibi – lar da segunda maior acumulação de ouro do mundo.
Eles continuam a atingir altos teores em todos os lugares e estão bem ao lado do que se tornará a maior mina de ouro do Canadá.
Não tenho dúvidas de que em breve serão um alvo principal de takeover – especialmente considerando que um dos eventos de mineração mais significativos do Canadá está prestes a acontecer bem ao lado deles.
É por isso que os analistas estão chamando esta empresa de próximo alvo potencial de takeover e têm preços-alvo de 12 meses que rendem mais de 150% em relação ao que negociam hoje.
Mais sobre esta história em breve.
Gold Stocks Prontas para Explodir
Muitos exploradores juniores e de médio porte viram suas empresas perder market value em meio à contínua market uncertainty e global volatility em 2011. Apesar de terem record growth e strong growth prospects, muitas das gold mining shares estão agora sendo negociadas em ou perto de mínimas de 52 semanas.
Estamos em um período em que o market se tornou extremamente irrational e as shares de strong quality gold miners e explorers estão caindo todos os dias, apesar de record gold prices e strong outlook. Mas se você olhar para a história – especialmente o 1973/1974 bear market – você saberá que os fundamentals acabarão vencendo.
Uma Semelhança Assustadora
O que está acontecendo agora é estranhamente uma reminiscência do que aconteceu há quase 40 anos: Devaluation of the Dollar, extreme rise in oil prices, UK in a recession, real GDP growth decline, rise in inflation, e money printing (como resultado da conversão do dólar em uma full fiat currency backed by nothing more than a promise by the government). No ano anterior ao crash de 1973, as stocks estavam indo incrivelmente bem, com o DJIA ganhando 15% em doze meses.
Estamos vendo a mesma coisa agora.
Quando os stock markets atingiram o pico em 1972, os bears entraram em ação e as stocks caíram drasticamente durante esse período. Embora os stock markets tenham se recuperado eventualmente, a recovery foi um processo lento. Os Estados Unidos não viram o mesmo nível em real terms até agosto de 1993: mais de vinte anos depois que o crash de 1973-74 começou.
Enquanto as stocks perderam quase metade de seu value durante esse tempo, muitas gold mining shares facilmente quadruplicaram de value – algumas delas muito mais do que isso. O surge no gold and silver sector foi dramatic e mudou as vidas dos investors que correram o risk de participar quando ninguém mais o faria.
Eventos recentes do market estão apontando para um major surge em gold mining stocks nos próximos anos e, como resultado, este ano pode ser uma das melhores opportunities da última decade para possuí-los.
E é isso que torna a próxima empresa que estou prestes a apresentar tão especial.
Um dos Maiores e Melhores
Balmoral Resources Ltd.
(TSX-V: BAR)
(OTC: BALMF)
Deixe-me dizer porquê.
Balmoral Resources (TSX-V: BAR) (OTC: BALMF) atualmente possui um dos maiores land packages em um cinturão que abriga uma das maiores acumulações de ouro do mundo. Isso lhe confere um dos maiores e melhores land packages do planeta.
O Abitibi Greenstone Belt
Fora da Witwatersrand Basin na South Africa, nenhuma outra área na Terra produziu mais ouro do que o Abitibi Greenstone Belt de Quebec e Ontario, Canada.
O cinturão tem sido o lar de mais de 100 minas produzindo mais de 180 milhões de ounces de ouro. Não é de admirar que novas exploration tools, new geological understanding e new investment capital estejam começando a produzir resultados ainda maiores nesta área prolífica.
Mas muito ouro não é a única coisa que torna o Abitibi tão especial. São os extremely high grades que ele produz.
O average historic grade de gold deposits do Abitibi é superior a 8 g/t – o que é mais de 8 vezes o average grade das current gold reserves dos major gold producers do mundo.
Nos últimos 5 anos, várias major gold discoveries no Abitibi renderam aos investors centenas de milhões de dólares. Isso inclui Osisko Mining, Detour Gold, Lake Shore Gold, Virginia Gold, e ninguém menos que West Timmins Mining – a company que a equipe da Balmoral vendeu há menos de dois anos e meio por um potential return de 2215% em menos de um ano.
A management da Balmoral tem uma grande chance de fazer isso novamente.
Uma Segunda Oportunidade
A Balmoral não só possui um dos maiores land packages no Abitibi, com mais de 82km para explorar, como também possui quase tudo bem ao lado do que se tornará a maior gold mine do Canadá no próximo ano: a 15.6 million ounce Detour Lake Mine da Detour Gold.
Literalmente, a Balmoral está bem ao lado.
(As Zonas Amarelas são as Properties da Balmoral)
Clique Aqui para Assistir ao Corporate Video da Balmoral
Quando você considera que o Abitibi já é um dos maiores producers de ouro, isso é um big deal. Mas um large land package não é suficiente. É preciso great drill results e uma team que saiba como expandir e market sua story para as right people.
A Balmoral está consistentemente atingindo even higher grades do que sua vizinha Detour Gold, então você pode apostar que eles estão contando a story para todos na area – não apenas para o market. Se você está no mining space, você sabe o que isso significa…
Não é de admirar por que os analysts estão pedindo um high price target tão alto para a Balmoral.
Mas isso não é tudo. Acho que esses target prices em breve terão que ser raised.
Primeiro, vamos voltar a como a Balmoral começou para que você possa ver por que estou fazendo uma large bet nesses caras.
Como Tudo Começou
A story da Balmoral começa há alguns anos, quando sua management team, liderada pelo CEO Darin Wagner, fez parte da discovery do high-grade Thunder Creek gold deposit em Timmins.
Como resultado, sua company West Timmins Mining foi acquired pela Lake Shore Gold Inc. em um deal avaliado em $424 million, gerando uma wealth of money para seus shareholders.
(Como mencionei anteriormente, sua management team levou suas $0.13 stock quando o market crashed em 2008 para mais de $3.00 em 2009, quando foi finalmente bought out. Tudo isso aconteceu em menos de 12 meses.)
As shares da Balmoral alcançaram um premium quando começaram, como resultado do success de sua management e do replicated business model. Mas com as recent market conditions diminuindo, as shares da Balmoral caíram e permaneceram nesses levels por algum tempo.
Mas isso agora a torna uma extremely attractive investment proposition para mim.
Quando a management e o CEO Darin Wagner começaram a Balmoral, eles começaram fazendo exatamente o que fizeram com a West Timmins – eles construíram uma company baseada na premise de, “Quem vai buy their project?”
O Success da West Timmins
A West Timmins management team rapidamente recognized a significance de uma high-grade discovery feita pela Lake Shore no west end do Timmins camp – uma area que sempre foi um pouco um dog com uma big fault separando-a da main part do 71 million ounces Timmins camp.
A Timmins mine discovery pela Lake Shore foi a first na West Timmins area de significance.
Pouco depois de a Lake Shore Gold anunciar sua discovery, e com a Goldcorp se mudando para Timmins e começando a torná-la seu camp, Darin e sua team viram opportunity. Esta new discovery da Lake Shore era de such high grade que seria stupid não construir uma company em torno dela.
Então Darin se mudou e montou uma district scale land position imediatamente ao redor da Lake Shore, tornando a land position da Lake Shore um hole no donut da West Timmin.
Sua logic era simple: Ou a Goldcorp fará um take over da Lake Shore – e os engolirá no process – ou a Lake Shore vai querer grow e a only way será buy a West Timmins.
Darin e sua team estavam montando um project que someone ia querer. Era that simple.
Quando a West Timmins adquiriu all the land, ela também took Thunder Creek – a discovery que soon seria o prime focus de seu success.
Em meados de 2007 (em um scenario very similar ao da Balmoral) em joint venture com a Lake Shore, eles drilled o first discovery hole em Thunder Creek. Por nearly two years, Darin e sua management team tentaram convince o market que eles tinham something really special – something que both Lake Shore ou Goldcorp would want.
Mas o market didn’t care. Up until the bottom de 2008, as West Timmins shares did nothing but go backwards, falling to a low de $0.13 em November 2008 – despite hitting significant grades over and over again.
Still Darin e sua team knew what they had e wouldn’t quit. They weren’t about to let Lake Shore bully them out of the joint venture. So they kept drilling e marketing their story.
Seu result?
A West Timmins outperformed as Lake Shore shares on a percentage basis em every news release por um year coming out of the 2008 crash.
Como um result de seus persistent efforts, foi uma das first companies out of the bottom em 2009. Enquanto many companies hid in the sand, they didn’t.
From that point, it’s shares never looked back.
Por que isso é important?
Praticamente a same thing está acontecendo com a Balmoral right now. As similarities between a West Timmins story e a Balmoral são so vivid, they’re scary.
A Balmoral tem uma very significant high grade system discovery em seu Martiniere site que é very similar ao que a management estava seeing early on na West Timmins story com a Lake Shore. Ela tem um potential buyer na Detour, ou any of a number of other nearby Quebec gold producers, que já publicly announced – even in their AGM – que seu number one desire é high grade within 50km de sua new mine.
Dê uma look em where as La Martiniere’s high grade discoveries estão:
Last year, a Detour Gold said it wouldn’t be looking to acquire other companies until production begins em Detour Lake em 2013. Shortly after that in late September, a Detour announced that it was acquiring Trade Wind Ventures.
As you can see, a Balmoral already has a readymade buyer that wants exactly what they are finding. It is producing great results on practically every hole drilled.
A Balmoral está repeating a path that is so very similar to West Timmins it’s unbelievable. A geology, os grades, e a thickness dos intercepts management está finding from Martiniere West e East são very similar ao que eles saw na West Timmins.
A Comparison
Right now, Thunder Creek tem um average grade de 5.64 grams per tonne (gpt) para 521,600 contained ounces of gold (“Au”) na Indicated category e 2,693,000 tonnes em um average grade de 5.89 gpt para 510,000 ounces Au na Inferred category.\
\
When you compare Thunder Creek to Balmoral’s Martiniere, you will easily see what makes Martiniere so special.
With Thunder Creek, there is no ore above 350 vertical metres. O deposit starts 350 metres below surface.
On the other hand Martiniere West starts at surface.
My back-of-the-napkin calculation suggests Martinere West alone has probably drilled out 200-225k ounces at 11 gpt from surface to 250m.
That’s not only twice the grade of Thunder Creek, but the discoveries em Martiniere are already exceeding Thunder Creek at shallow depth e is open in all directions.
A Balmoral é more advanced than a West Timmins story ever was.
A Balmoral also has a historic resource (non 43-101 compliant)\
A West Timmins never had either as a backstop.
A Balmoral also has over 82km to explore e is right next to what will become a Canada’s largest gold mine next year.
A West Timmins never had that either.
A Balmoral foi built on the same concept as West Timmins – only its built bigger and better than before. For anyone that missed the West Timmins deal, a Balmoral may be that second chance.
Now that you know the story, let’s get into the more technical stuff.
Balmoral Project Overview
A majority of Balmoral’s project portfolio is located na province of Quebec — a jurisdiction which combines an extraordinary mineral endowment with one of the most mining friendly legislative frameworks in the world.
So friendly, in fact, that a Balmoral will be receiving over $2 million em rebates from the Quebec government for the money it has put into the ground. The more Balmoral spends, the more money it gets back.
Martiniere Gold System
A Balmoral’s discovery de um large new high-grade gold system em Martiniere represents one of the first new gold systems discovered no Abitibi em 10 years.
Like the discovery do Long Canyon Trend em Nevada which led to a double takeout (AuEX by Frontier e Frontier by Newmont – a double whammy para shareholders), a Balmoral’s discovery está opening new avenues to exploration e attracting significant industry attention.
Late last year, a powerhouse Osisko Mining saw what was happening na area e optioned to acquire up to 65% da Midland Exploration Inc.’s Casault property – right next to Balmoral’s Detour East e Martiniere properties. (see picture below)
Highlights:
New Large Scale Gold Bearing System Open in All Directions
- Expanding High-Grade Gold Resource – West Zone
- 7 New Gold Discoveries Open for Resource Development
- New VMS System e Associated Bonanza Grade Gold-Silver Breccia Zone
- Already the Largest Gold System in the Belt Outside Detour Lake
Martiniere West
After 12 months of drilling o Martiniere gold system remains open in all directions e is the home of no fewer than 6 high grade zones including the West Zone.
Highlights:
- Expanding, shallow, high-grade gold discovery with significant resource potential
- Greater than 75% “hit ratio”
- Open in all directions; drilling to resume June 2012
- Currently the most advanced of the Martiniere gold system discoveries
- Shallow, high grade zone located 45 km from Detour Gold Deposit
- Has moved from discovery to resource definition in less than 8 months
2011/2012 Drill Highlights
- 4.24 g/t gold over 22.59 metres
- 13.01 g/t gold over 12.00 metres
- 10.51 g/t gold over 9.72 metres
- 11.13 g/t gold over 7.10 metres
- 5.60 g/t gold over 24.92 metres
- 44.97 g/t gold over 2.33 metres
- 23.57 g/t gold over 3.74 metres
- 20.99 g/t gold over 2.30 metres
- 67.67 g/t gold over 1.36 metres
- Intercepts currently extend for 410 metres along strike, to 120 metres down dip – OPEN IN ALL DIRECTIONS
Martiniere East
- Recent New High-Grade Discoveries
- 12.93 g/t gold over 9.33 metres
- 18.72 g/t gold over 2.10 metres
- 76.40 g/t gold, 1390 g/t silver over 0.50 metres
- New zone of massive sulphide intersected; open in all directions;
- 4 New Gold Discoveries em December 2011
- 300 x 300 metres corridor of gold mineralization which is open in all directions
- All within approx. 1 km of the West Zone e at shallow depth
There’s no doubt in my mind that a Balmoral will continue to hit. But as I mentioned before, a Balmoral also has strong backstops that a West Timmins never had.
Bigger and Better Backstops
While the main focus para mim é Martiniere, a Balmoral also has:
- Grasset Gold discovery: um “Classic” Abitibi setting com first positive I.D. de “Timiskaming-style” gold mineralization along Detour Trend
- High Grade Fenelon Project: Um historic resource de high grade gold, com um positive pre-feasibilty (pre 43-101) em $350 gold na upper zone. Multiple high-grade veins com local “bonanza-grades” including 2011 intercept de 97.33 g/t gold over 6.19 metres. Most recent historic grade estimate é 17.5 g/t gold (cut) – 33. 80 uncut – para intercepts above the 150 vertical metre level. It also already has a mining lease in place
- Northshore Property, Ontario: JV property com GTA Resources that is large gold-bearing system centered around a high-grade core. Drilling continues to expand e hit strong numbers com os most recent results hitting 240.00 metres grading 1.41 g/t gold.
- Detour East: 20 kilometre, early stage property directly adjacent ao 16 million ounce Detour Gold deposit development project
- N2: Um historic resource de 18.3 mT @ 1.48 g/t gold – 775,000 ounces\
\
More technical information can be found no full report by clicking here
O End Game
When Detour Gold begins production em 2013, it will have only two things left to please shareholders:
1. Increase production
2. Increase ounces
A Detour has already publicly stated their intentions:
“A Company’s (Detour Gold) strategy é to focus on high-grade mineralization found within a 50 km radius de sua processing plant” – Gerald Panneton, CEO and President da Detour Gold – January 25, 2012
A Balmoral está walking into a very promising position nos next 6 months in that as they continue to grow these zones out, especially with the grade profile, they will get to the point where it will make sense for somebody to make an offer.
With all of the drilling, a Balmoral could soon have enough for someone to come and say, “I’ll take that.”
I am not the only one who thinks so:
“Nos next 12 months, we believe Balmoral’s aggressive exploration program may attain milestones that will provide a threshold into which the eastern extensions do Sunday/Detour Lake structural belt emerge as a growing and recognized World-class gold district. We highlight that Balmoral’s portfolio of properties could be the target de um take-over com um acquirer that searches for district-scale control.” – Eric Lemieux, Laurentian Bank Securities, January 18, 2012
Os Big Guys estão Watching
I am confident that someone will knock on Balmoral’s door before their projects get even bigger e becomes expensive.
There’s some very big players na Balmoral’s immediate area e they all have tons of cash to spend. You can bet they are watching Balmoral’s progression e you can bet Balmoral’s management está telling them the story.
Os big guys estão watching a Balmoral hit high grades on practically every hole.
They know Balmoral’s gold discoveries are open in every direction e continue to grow.
They know a Balmoral has been making new discoveries in record time.
They know a Balmoral is right beside what will become a Canada’s largest gold mine next year.
They know a Detour Gold has every intention of focusing on high-grade mineralization within 50km de sua processing plant.
They know a Balmoral has the largest land holdings na area.
They know that Martiniere is the largest known gold system no belt outside Detour Lake.
They know a Balmoral’s team has done it before.
If you were one of the big guys, would you make an offer?
Balmoral Resources Ltd.
Cdn Symbol: (TSX.V: BAR)
US Symbol: (OTCQX: BALMF)
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We’re biased towards Balmoral Resources Ltd. because they are an advertiser e we will be buying shares. You can do the math. Our reputation is built upon the companies we feature. That is why we invest in every company we feature em nossos Equedia Reports, including Balmoral Resources Ltd. It’s your money to invest e we don’t share in your profits or your losses, so please take responsibility for doing your own due diligence. Remember, past performance is not indicative of future performance. Just because many of the companies em nossos previous Equedia Reports have done well, doesn’t mean they all will. Furthermore, a Balmoral e sua management have no control over our editorial content e any opinions expressed are those of our own.
Até a próxima,
Ivan Lo
Equedia Weekly
Forward Looking Statements
Darin W. Wagner, P.Geo é um non-independent Qualified Person e has compiled this presentation from publicly available industry information, NI43-101 compliant technical reports e new releases with specific underlying Qualified Persons as set out in the releases and reports. Industry Information has been compiled from publicly available sources e may not be complete, up to date or reliable. Forward looking statements may differ materially from actual events. Please see complete information on Sedar (www.sedar.com).
This presentation is for information purposes only e is not a solicitation. Please consult the Company for complete information e um Registered Investment Representative prior to making any investment decisions. This presentation reports on the technical details dos company’s projects up to March 12, 2012 e provides a guide to the company’s potential future activities e use of funds. There can be no assurance that os company objectives will be achieved.
Inferred Resources are reported. A US Securities and Exchange Commission does not recognize the reporting de Inferred Resources. These resources are reported under Canadian National Instrument 43-101 e have a great amount of uncertainty and risk as to their existence e economic and legal feasibility. It cannot be assumed that all or any part de Inferred Resources will ever be upgraded to a higher category. Under Canadian Rules estimates de Inferred Mineral Resources may not form the sole basis de feasibility studies or pre-feasibility studies. INVESTORS ARE CAUTIONED NOT TO ASSUME THAT PART OR ALL OF AN INFERRED RESOURCE EXISTS, OR ARE ECONOMICALLY OR LEGALLY MINEABLE.
This presentation also refers to historic geological resources – identified by an asterik \
A TSX Venture Exchange has not reviewed e does not accept responsibility for the accuracy or adequacy desta presentation, which has been prepared by management. There can be no assurance that any of the assumptions nos resource estimates will be supported by um Pre-feasibility or Feasibility Study or that any forward looking event will come to pass. The data is incomplete e considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment.
This presentation contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, e that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company’s properties. Past performance is no guarantee of future performance e all investors are urged to consult their investment professionals before making an investment decision. Investors are further cautioned that past performance is no guarantee of future performance
A Company may access safe harbor rules.
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