Hidden Backers

Potential backers behind New Patricia.....

Buried in the article to do with our neighbor to the east - November 2019.  I like to point out that since this research note was written, the neighbor is still having funding issues.  More importantly, the New Patricia deal with Exiro happened 2 months following this article.   Dorthy-Dobie with New Patricia Trend may have bigger backers than we think.

https://secure.kaiserresearch.com/s3/Trackers.asp?ReportID=862056

A group of inlier patented claims in the eastern half called Kasagiminnis hosts a similar gold system owned by Ardiden Ltd (ADV-ASX) for which it published a JORC resource estimate of 790,000 tonnes at 4.3 g/t in September 2019.

It is only 110,000 oz but Ardiden is planning a major winter drill program to expand the deposit along strike and at depth. Ardiden acquired the project from a moribund Canadian junior, and until recently was focused on Ontario's graphite and lithium potential. But in the past year there was a management change and the focus is now on gold in western Ontario, a smaller version of the wave of Australian interest washing ashore in Canada.

Another landowner in the region is Exiro Minerals which is headed by Shastri Ramnath and Josh Bailey. Exiro's strategy is to conduct regional data compilations to which it applies "big data" analysis to highlight under-explored areas with potential.

Haywood's David Elliott is a disclosed backer while Rick Rule is rumored to be a hidden backer. When you consider that Great Bear Resources Ltd has achieved a $250 million valuation based on its ownership of a 23 km structural trend south of the Red Lake camp, the $5 million value at $0.03 implied by Tri Origin's 167 million shares fully diluted after the financing looks pretty cheap. Ardiden with 1.7 billion shares fully diluted and a $0.003 stock price is also carrying a AUD $5 million value for the 4 far flung projects that make up its Pickle Lake play, but with 10 times the amount of stock out, Ardiden makes Tri Origin look like a tight deal