I might dip my toe back in during the upcoming capital...

I might dip my toe back in during the upcoming capital raise.

Falcon Lake is unveiling a really consistent ore body and its shallow. They'll need half a dozen more 30m+ intercepts before an MRE gets anywhere compelling and with drill costs in Canada this might take another $3m-$6m depending on luck I guess. (15,000m-30,000m est.)

If they can get an MoU signed with GT1 to use the Seymour processing plant they are planning on building in Ontario and truck the ore there for a royalty / project %. Then Falcon Lake becomes a first quartile, low cost producer with little to no CAPEX requirements. Management has been ridiculously poor historically but that's the opportunity short / mid term and that's where the value will be created IMO if I was running the ship. LG has been extremely active in the area for strategic partnerships and offtake to which could be a another source of funding if they continue to tick boxes.

Compelling play at $10m MCAP