Gold-Silver are about to Soar!
Read Our Special Alert on this Near-Term Gold Producer
With an ALL-STAR management team experienced in finding and operating some of the largest copper and gold operations in the world, this company is our number one gold sector pick
- Acquiring high-grade gold deposits from Barrick during the brutality of the bear market for literally pennies on the dollar could play out nicely for early investors!
- In addition to an existing resource, this company has mine development and production facilities in place in a bull market environment!
My Number One Gold Sector Pick of 2016:
K92 Mining Inc. (TSXV: KNT & US: KNTNF)
In a precious metal bull market, anything with the word “gold” in it has a chance of spring-boarding. What I want to urge my readers to do today is to be as picky now as ever with quality management, large, high-grade deposits, and deeply discounted value.
Sure, gold is making 52-week highs, but I believe we're still a long way off from getting to gold's all-time-high and beyond – translating into significant potential for investors. While many mining companies closed their mines and went bankrupt, it was the well-positioned companies that were in the trenches of the bear market, purchasing deep value for such a time as this.
What were massive misfortunes for many mining companies have translated into sheer gold for others.
Allow me to introduce you to what I feel is one of the best opportunities
that have emerged from the ashes of the bear market in precious metals.
During the bear market, even the largest gold producer in the world, Barrick Gold, was struggling and were at one point more than $13 billion in debt, having no other choice but to sell projects to reduce debt levels as a promise they made to shareholders. It got really bad, and unfortunately for them, they had to let projects go that had large deposits with very high grades.
What was tragic news for Barrick became K92's opportunity, having been prepared and at the right place at the right time.
In February 2015, K92 purchased the Kainantu Gold project
Barrick purchased this very same project in 2007 for $141.5 million and then spent more than $100 million on the project which resulted in what is an essentially turnkey gold re-start asset for K92.
Due to the nature of the market, Barrick sold the project to K92 for dirt cheap – pennies on the dollar!
Alex Davidson, the Executive Vice President of Barrick, who was in charge of exploration and corporate development WORLDWIDE when Barrick owned the K92 project, joined K92 shortly after K92 acquired the project from Barrick
A 350 person camp, underground infrastructure, a processing facility all inherited from Barrick as part of the purchase. This isn't some farfetched pipe dream; it is happening, which is why I am so excited to present K92 as our #1 gold company here in 2016.
K92 has arranged financing to refurbish and restart operations and additionally has excellent potential for future exploration and expansion. And because K92 is just being listed, this opportunity is early stage. It really is a “hit the ground running” project, and this stock is JUST starting to trade.
While speaking with the President of K92, Bryan Slusarchuk, he reminded me of the rarity of projects with this type of size and grade potential combined. Sure, you can find large deposits globally that are low-grade or high-grade deposits that are miniscule, but K92 has both impressive size and grade.
The credentials of this management team have blown me away. Members of this team have been involved in building over 15 mines and has been involved in buyouts worth over $5 billion combined! They are all on their way to making K92 their next major success story. If a mining company doesn't have leadership, they don't have a future, and K92 has massive upside potential just going down the list of management.
Douglas Kirwin (Advisor): Mr. Kirwin was credited with leading the exploration team that made the discovery of the Hugo Dummett deposit at Oyu Tolgoi in Mongolia, one of the largest known deposits of copper and gold in the world. As a result, he was a recipient of the PDAC inaugural Thayer Lindsley medal awarded for the most significant international mineral discovery in 2004.
After being part of one the largest gold and copper discovery of our lifetime,
Mr. Kirwin is now part of K92!
Alex Davidson (Advisor): Mr. Davidson previously served as Executive Vice President, Exploration and Corporate Development for the largest gold producer in the world, Barrick Gold. He was responsible for Barrick Gold Corporation's international exploration programs and corporate development activities. He joined the K92 team in the weeks after the Kainantu acquisition, having a full understanding of how much potential there was in this project.
Ian Stalker (CEO and Director): Mr. Stalker was the Chief Executive Officer of UraMin Inc. a small start-up uranium company that went on to be acquired two years later for $2.5 BILLION. He has 40 years of experience in mine development and operations in Europe, Africa, and Australia.
Stuart "Tookie" Angus (Chairman): Mr. Angus is chairman of Nevsun Resources Ltd., which operates one of the highest-grade open-pit copper mines in the world. He was the former chairman of B.C. Sugar Refinery Ltd. and former director of First Quantum Minerals, Canico Resource Corp., Bema Gold, Ventana Gold, and Plutonic Power. Mr. Angus is an independent business advisor to the mining industry and has focused on structuring and financing significant international exploration, development, and mining ventures for the past 30 years. As founding director for Ventana, Tookie was part of a buyout that added up to $1.3 billion.
When I look at K92's flagship project, which is located in the Eastern Highlands province of Papua New Guinea, I'm confident in their ability to execute and Papua New Guinea is a region that has a rich history of mining in a competitive tax and regulatory environment due to an elected stable, democratic government.
The mining-friendly country of Papua New Guinea hosts a number of world-class deposits, including Ok Tedi, Porgera, Hidden Valley, and Wafi-Golpu, with a number of the world’s largest mining groups having significant operations on the ground. In fact, more than 60% of the country's GDP comes from mining and oil, which says a lot about how important this industry is to the country's sustainability
K92's very own Kainantu Gold Project is in this mining friendly jurisdiction!
K92 starts trading Wednesday, May 25th and retail investors can now be a part of what could be a story that up until now was privately funded by industry experts.
- Large Resource - Owning shares of K92 gives investors ownership of a company with a reported NI 43-101 compliant resource of 1.84 M inferred oz. at 11.6 g/t Au eq. and 240,000 indicated oz. at 13.3 g/t Au eq (based on the Independent Technical Report, Resource Estimate and Summary of Mining Facilities, Kainantu Project, Papua New Guinea, Nolidan Mineral Consultants, Author Anthony Woodward, BSc Hons., M.Sc., MAIG, April 15, 2016 – a copy of which is available for review and has been filed on SEDAR under the Company’s profile and contains a full description of all underlying assumption. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves).
- Well known resource – due to the past work of Barrick Gold and follow up work that K92 has completed in the past 12 months as a private company, there is a large amount of data that the K92 team has to work with as they advance their business plan
- High Grade – even though gold prices have been stronger and stronger, we continue to favor high grade situations
- Infrastructure - Because of the capital invested by Barrick after they purchased the mine for $141.5 million, the mine is essentially turnkey, ready to go into production once the company completes refurbishment and rehabilitation.
- Turnkey - K92's project is almost turnkey and is targeted to be ready for initial production in a matter of months.
- All-Star Management Team- This is an experienced management team has been involved in building over 15 mines and has been involved in buyouts worth over $5 billion combined! Douglas Kirwin, a man credited with the one of the largest discoveries of copper and gold in the world has joined K92!
- Timing - K92 purchasing the flagship project for pennies on the dollar during the brutality of the bear market after Barrick paid $141.5 million and spent $100 million developing, advancing and maintaining it, and now beginning production in the early stages of the bull market could pay in spades for early investors!
- Great Jurisdiction - Located in Papua New Guinea, a region that derives more than 60% of its GDP from mining and energy, this is a great spot to execute and produce.
Some of you might even feel like you've missed out on these gold market gains and are hesitant to chase these rapidly rising prices – and I certainly don't blame you. Even though I wholeheartedly believe we are in the infant stages of the bull market in the mining sector, the good news is K92 has yet to make its big move, as it is just being made available now to the investing public.
Chief Editor, CrushTheStreet.com
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