/biz/ - Business & Finance

To the anon who asked about Honey Badger Silver (presumably the same wonderful individual who found Rockhaven, god bless you man): I have done enough due diligence now to be able to say a few things about the company.

The financials and share structure are great, with a very recent Sprott investment and the Chad CEO (his name is Chad) announcing to buy over 40M shares + 40M warrants total. The PP shares will come to trading at 7c in March 12 at the same time as the company executes the acquisition of three new silver assets in the Yukon area from Strategic Metals. As payment, Strategic Metals will be issued 19.9% of all the outstanding shares. The shares outstanding should be about 150M then, and Fully Diluted a bit over 220M, so lots of dilution coming but the shares go into hands forged from steel so it's no problem. No debt or any other big liabilities to worry about on the balance sheet.

The company's flagship asset are the Thunder Bay assets that include 12 past-producing mines and with a good property size of 16.8km2. In the 12 mines, total historical production was a bit over 1.67Moz Ag, with the Beaver Silver Mine having produced over 500koz Ag @ 2,500gpt average grade 1884-1891, with some zones grading over 34koz/t Ag, and some cut-off grades for mining were 1koz! Fantastic grades. For comparison, according to Bayhorse's Silver Mine technical report, their mine had historical production of min. 150koz Ag @ 990gpt average grade 1920's-1980's (though the reader is cautioned that it's impossible to verify that information).
The Thunder Bay asset's infrastructure is excellent and the area is underexplored. Sadly this means there's also no technical report to read but I hope that will change soon-ish. Drilling shows high-grade Ag underneath old workings and near surface, also over 2km strike length has been identified.

I'll have to do some more DD + research the Yukon assets but so far so good! I may also email Chad and ask a few questions. Great find anon!

>>29427148
>tfw I'm a mining stock analyst now
thank you for the humbling compliment anon