Chesapeake Gold (TSX:CKG) - Uncovering A Shallow Oxide Gold Treasure At The Lucy Discovery
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Show Notes
Interview with Alan Pangbourne, President & CEO of Chesapeake Gold Corp.
Our previous interview: https://www.cruxinvestor.com/posts/chesapeake-gold-corp-tsxvckg-pioneering-faster-oxidation-processes-in-gold-recovery-3850
Recording date: 4th October 2023
Chesapeake Gold Corp (TSX.V: CKG, OTCQX: CHPGF) is a gold and silver exploration and development company focused on advancing its 100% owned Metates project located in Durango State, Mexico. Metates is one of the largest undeveloped gold and silver deposits in the world with measured and indicated resources of 16.8 million ounces of gold and 423 million ounces of silver. In addition, there are inferred resources of 2.1 million ounces of gold and 59 million ounces of silver.
The Metates project consists of intrusive and intrusive breccia hosted mineralization amenable to sulphide heap leach processing. A 2021 preliminary economic assessment on a 15,000 tonne per day Phase 1 starter heap leach operation outlines strong project economics including an after-tax NPV of C$1.9 billion and IRR of 31% at base case metal prices. Average annual gold-silver equivalent production is forecast at 147,000 ounces over a 31 year mine life. The starter project requires an initial capital cost of only US$359 million and has an all-in sustaining cost of US$749 per ounce.
Chesapeake is focused on further metallurgical test work in 2023 aimed at improving leach kinetics and oxidization rates. This is expected to improve overall gold and silver recoveries and enhance project economics. The company is well funded with approximately C$24mm in treasury and major shareholders including Eric Sprott control over 40% of the shares outstanding. Chesapeake offers investors excellent leverage to higher gold and silver prices and significant valuation upside compared to peers. Upcoming potential catalysts are the results of ongoing metallurgical studies and an updated prefeasibility study.
View Chesapeake Gold's Company Profile: https://www.cruxinvestor.com/companies/chesapeake-gold
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