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- TrueGold's Karma Project is being constructed, and it should be in production by the end of next year.
- Thanks to the recent financing deal with Franco Nevada and Sandstorm Gold TrueGold doesn't have to worry about financing.
- Despite the fact that there are many royalty and streaming claims on the project it is still valuable even at lower gold prices.
- The shares trade at just a slight premium to the cash the company has on its balance sheet, and added to the value of the project it has significant upside.
- Thanks to this streaming deal with Franco-Nevada and Sandstorm Gold, True Gold is now fully funded to start its production at Karma.
- The deal is favorable to True Gold, as it will take a while before FNV and SAND see their original investment back.
- The streamers seem to be betting on a much longer mine life than anticipated, which was exactly my point.
- True Gold Mining has raised $47M in equity and is now waiting for the debt issue to close before starting construction at the Karma Project.
- The most recent North Kao maiden resource estimate adds over 1.6 million ounces to the total estimate which now stands at 5.4Moz.
- The Karma project is evolving into a district play, and I'm looking forward to see a plan where the sulphide ounces could be mined.
- At the current share price, you can buy True Gold at a 8% discount compared to the price of the $47M capital raise.