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
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Last
5.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.704M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 700000 | 6.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 175000 | 1 |
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| Last trade - 10.26am 30/06/2025 (20 minute delay) ? |
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