Is This The Next Kaminak? – Goldcorp (NYSE:GG) Acquires 19.9% Of Triumph Gold (CVE:TIG, FRA:8N61, OTCMKTS:NFRGF)
Triumph Gold Corp. (CVE:TIG, FRA:8N61, OTCMKTS:NFRGF)
Current Price: C$0.38
Shares Outstanding: 59.7 million
Market Capitalization: C$22.7 million
52-Week Range: C$0.07 – C$0.50
Cash: ~C$6.3 million
Will Triumph Gold be the next Kaminak?
No. We believe it will be much larger.
As stated in our original write-up, Triumph’s flagship project, Freegold Mountain, includes Kaminak’s Coffee-like epithermal models, but also has all the signatures of Western Copper’s Casino-like porphyry. And for the record, Kaminak was acquired by Goldcorp for $520 million, and Western Copper currently has a market cap of $170 million.
This geology, accompanied by Triumph’s exploration philosophy, enticed Goldcorp to invest $6.3 million via flow-through, at a price of $0.528 per share. The share price at announcement was $0.475.
The Freegold Mountain project covers over 200 square kilometers and is already home to three deposits (Nucleus, Revenue, and Tinta) and numerous showings:
(Source: Triumph Gold Corporate Presentation)