Two Global Mining Icons Team Up To Give You The Best Of Gold, Silver & Copper – Northern Sphere Mining Corp (CNSX:NSM)
Northern Sphere Mining Corp (CNSX:NSM)
Current Price: C$0.405
Shares Outstanding: 25.9 million
Market Capitalization: C$10.5 million
52-Week Range: C$0.17-C$0.85
Cash: ~C$2.3 million
Total Liabilities: ~C$2.4 million
If you ask any successful mining investor what he looks for in a company, 99% of the time he will begin with management. Identifying serially successful financiers and geologists is hard work – and that is why we pride ourselves on successful due diligence.
Catching the next best story is difficult. It involves diving deep into the chasms of the most junior of junior deals and working the phones. After all, the old adage “in the room, in the deal,” holds especially true for an old-school industry like mining. Nevertheless, we enjoy searching for that special blend of strong fundamentals and an even stronger management team. A harmonious combination makes for a great company, but more importantly, a great story.
This week we present Northern Sphere Mining. Exactly the sort of diamond-in-the-rough, rags-to-riches potential that will make us all happy campers.
This company was hammered together, plank by painstaking plank by an A-list management team, board of directors, and shareholders. This story attracted the likes of:
Sheldon Inwentash – Executive Chairman, Significant Investor – A prolific name in the resource space, best known for his tenure at Pinetree Capital, where from 2002-2007, he generated a 120-fold increase in share price, reaching over a $1 billion market cap. Sheldon has some enormous wins under his belt; too many to name for this one report, but some succesful names he seeded and incubated include: Queenston Mining (acquired by Osisko Mining Corp. for $550 million), Aurelian Resources (acquired by Kinross for $1.2 billion), and Gold Eagle Mines (acquired by Goldcorp for $1.5 billion).
Eric Sprott & Sprott Mining – Significant Investor – Billionaire Eric Sprott is another household name in the mining sector, and is known for investing and building too many celebrated mining companies to count. Recently stepping down from his role as Chairman of Sprott Inc. to focus on his personal investments, Eric wasted no time deploying capital into what he thinks are the best juniors. Northern Sphere is now one of them. Sheldon personally walked Eric through NSM’s asset and strategy, and now has his full support. In fact, Eric believes in NSM’s potential so much he will be providing technical assistance through his private mining company, Sprott Mining.
John Carter – CEO & Director – Mr. Carter brings over 35 years of experience in the metals and mining industries. He sits on the boards of Mag Copper, Shoreline Resource Management, Great Lakes Graphite, and is also an adviser to DNI Metals. In addition to mining, Mr. Carter also specializes in the engineering, design, and manufacturing of mineral processing equipment. He has been involved in the design and manufacture of over 200 mineral processing plants in 40 countries.
Steve Gray – VP Exploration – Recently appointed, bringing over 24 years of experience within the resource management sector. Steve has worked as a mine geologist for Placer Dome, as senior geologist for Hudson Bay Mining & Smelting, and as chief geologist for Kirkland Lake Gold, Richmont Mines, and Primero Mining Corp.
Denis Laviolette – Director – The President of Palisade Resources and our very own VP of Investments. Denis is an exploration geologist and mining professional and has worked in in some of Canada’s most prolific mining camps. He also owned and operated a mine in Ghana, before moving to the capital markets side, joining Sheldon as a mining analyst with Pinetree Capital.
Northern Sphere has a stacked team of geologists and financiers, and at a $10M market cap, its cheap! This is how it came together…
The Past – The Typical Venture Zombie…
Northern Sphere Mining began as the typical TSX Venture dog in Argentium Resources – a dormant shell, lacking in assets and people. Yet, under interim management, the company was able to acquire two very significant, district-scale projects in some of North America’s most favorable mining jurisdictions.
The first is the Scadding Project in Sudbury Ontario, and the second, the Black Diamond Project in Arizona. Both projects witnessed significant past production. Tremendous “blue sky” exploration potential remains.
As current CEO, John Carter, will tell you, NSM at the time was held together with 90-mile an hour tape and chewing gum! But thanks to the collaboration of Sheldon Inwentash and Denis Laviolette, and with a cash infusion, Northern Sphere Mining was born.
The Northern Sphere story now has three high catalyst elements, including: near-term production at the Black Diamond, high-grade drilling at Scadding, and blue sky exploration at both projects. The torque on these assets are incredible, and now that NSM has the cash and the right people involved we expect a steady stream of news on the horizon that would pique the interest of institutional and retail investors alike.
The Present – Formidable Assets…
(Source: Palisade Global Investments)
(Source: Corporate Website)
(Source: Corporate Website)