A First Mover
TerraX Minerals Ltd. is Canadian copper and gold discovery company acting as a first mover in the Acheon gold district in Yukon, Canada and the Stewart Gold-Copper Property in the Burin Peninsula of Newfoundland. The Yukon project is a stone throw from Yellowknife and boasts a 100% owned 772km2 land package adjacent to Con Mine and Giant Mine–Canada’s highest grade historic mines. Initial results suggest 70 km of strike. This is a solid story in a historical region that is friendly towards mining.
This company offers investment capital attractiveness, infrastructure, and a friendly mining jurisdiction with a team that has worked through exploration and feasibility studies in the Yukon. This is a high-grade copper-gold mineralized region along the Yellowstone Greenstone Belt with extension of geology containing Con Mine (6.1M oz @ 16.1g/t Au) and Giant Mine (8.1M oz @ 16.0g/t Au). The project is close to infrastructure, being roughly 8km from Yellowstone airport. There is year-round access, which translates to low costs in both infrastructure and exploration. A stand out number in the data is TerraX’s all in number for drilling; $250/meter.
The second project named Stewart Gold is located 30km north of Marystown, which is roughly 300 km by road to St. Johns. The Stewart property consists of two mineral exploration licenses, totalling approximately 137 claims (~34.25 sq km). TerraX has a 100% interest in the Stewart property, subject to a 2% NSR, of which 1% can be purchased by TerraX for $1,000,000. This project is a reclamation story and has plenty of data indicating value. On of the main discoveries is that of Forty Creek. This is a collection of ‘angular blocks of quartz vein material with local sulphides in the north-eastern part of the property. Several blocks up to 1 metre (“m”) across occur within a 200 square m area. A grab sample from one block assayed 59 g/t Au and 2290 g/t Ag. The samples collected by TerraX indicated anomalous gold assays obtained: “over 725 m in soils, with this anomalous zone open for 150 m to the southeast because of the presence of swampy ground that precluded further sampling; and the exposed area of hydrothermal alteration at Stewart has now been determined to be larger than originally thought, with a strike length on the order of 6 km, and a width varying from 400 m to 1.4 km.”
Management is led by Joseph Campbell, Chairmen and CEO, a professional geologist with 36 years of experience in exploration and development projects, both open pit and underground. Much of his career has been with major mining companies, specifically Noranda and Western Mining Corporation. Mr. Campbell discovered Meliadine gold project in Nunavut – acquired by Agnico Eagle for $696.9 Million in cash and shares in 2010. Meliadine is ranked by Agnico Eagle as their “largest development project based on reserves and resources. Highlights of Mr. Campbell’s career include the definition of a 250 million tonne Nickel laterite deposit in Cuba (Pinares) while Chief Geologist, and the discovery of the Meliadine gold project in Nunavut while Project Manager for a seven-year period from discovery through to pre-feasibility.
The President of TerraX is Stuart Rogers, and he has 27+ years as founder, director and senior officer of public companies listed on TSXV, TSX. Alan Sexton, P. Geo., M.Sc., V.P. Exploration has 33 years of experience, including Site Manager at Meliadine gold project from discovery through to pre-feasibility. The team has great depth in mining royalties, investment banking, and equity markets to provide the financial acumen required to produce results.
Knowing the corporate structure is sound, it is also positive to see the share structure broken down and well held. The 121 million shares have been fully diluted and a great understanding of their investor base exists. The management owns 11% of stock, known insiders and strategic partners own 19%, institutions own 19% and Osisko Gold Royalty owns 11%.
Understanding who holds your stock and having access to them for delivering your growth strategy is important. Often, too many people jump ship too early from a setback or a traded market, or even take gains to quickly missing the long-term opportunity. When the stock is held with strong relationships it allows the company to move forward without being a slave to the stock chart. Having a partner like Osisko Gold Royalty and respected newsletter writers and equity firms helps round out a strong story. The company recently announced a $3 million-dollar financing with PI Financial. TerraX has strong newsletter coverage from the likes of Taylor Hard Money Advisors, Resource Maven, and the Northern Miner. These are strong resource sector advocates who have great experience.