Palamina Corp
Primary ticker: TSXV:PA, OTCQB:PLMNF
Stage of development: Exploration
Primary minerals: Gold, Silver, Copper
Project to promote: Usicayos, Gaban, Galena
Project location: Peru
Website: www.palamina.com
Corporate presentation: Click here
News: Click here
Palamina has participation in 7 orogenic gold projects in SE Peru and 5 battery metal copper silver projects in NE and SE Peru.
Palamina 3,000m drilling program underway at its flagship Usicayos Gold Project.
Palamina holds a 15.4% equity stake in Winshear Gold Corp. (WINS: TSX-V.) + 2% NSR on all their projects. Winshear conducting 1,600m drill program at the Gaban Gold Project.
Palamina recently purchased Aurania’s Peruvian subsidiary Vicus for Pluma Cu Ag project. Pluma contiguous and north of Hannan’s San Martin sedimentary hosted Cu Ag project scheduled for 2,000m drilling program in 2024. San Martin fully funded by JOGMEC JV ($35M to earn 75% interest in San Martin from Hannan).
Main drill discovery catalysts:
Drill programs at PA Usicayos, WINS Gaban gold projects + neighbouring Cu Ag projects
Cash: CAD$1.1M
Debt: NIL
Major shareholders:
Andrew Thomson 14.5%
Eric Sprott 12.3%
Ernesto Echavarria 9.5%
Jeff Phillips 9%
Private Investor (does not wish to be identified) 8.9%
Management ownership – 18%
Financials
Management Profile
ANDREW THOMSON – PRESIDENT & CEO
Mr. Thomson is the former President and Chief Executive Officer of Soltoro Ltd. which was acquired by Agnico Eagle Mines in June of 2015. Mr. Thomson is an entrepreneur who has actively been exploring in Latin America since 1993. Mr. Thomson holds positions on the Board of Directors of Winshear Gold Corp., Montero Mining and Exploration Ltd. and NewOrigin Gold Corp. (being acquired by Harfang Exploration)
What is your rationale for taking part in 121 Mining Investment?
Palamina is seeking investors interested in investing in early stage drill discovery programs in orogenic gold projects and high grade copper silver projects with significant mineralized footprints in Peru. Palamina holds a 15.4% equity investment in WINS and a 2% NSR royalty on all their projects. Palamina is looking at spinning out its copper silver assets and will be seeking funding to carry out further drilling at Usicayos.
What recent news would you like to highlight to investors attending?
SEP 23, 2024
Palamina Acquires Aurania’s Peruvian Subsidiary And 100% Of The Pluma Copper Silver Project
SEP 11, 2024
Palamina Receives A US$100,000 Advance Royalty Payment From Winshear Gold Corp.
AUG 13, 2024
Palamina Drill Program Underway At Its Usicayos Gold Project
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Bearing out the significant value of our land bank of gold projects in SE Peru:
Completion of Palamina inaugural 3,000m drill program in SDO zone at Usicayos.
Completion of Equity/royalty partner Winshear 1,600m drill program at Gaban gold project.
XRF sampling program at Galena Cu Ag project
6 Months:
PA – Raise further funding to conduct further drilling at Usicayos Gold Project
WINS – Results from Gaban Gold Project drilling
Gravity survey at Galena + initiate permitting for drilling
Possible spin out of Vicus Cu Ag subsidiary
12 Months:
PA – Initial resource definition at Usicayos Gold Project
Possible drilling program at Galena Cu Ag project
WINS (equity/royalty partner) – Second drilling program after rainy season at Gaban
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Palamina operates in Peru where political, permitting and social issues remain difficult to rely on. Palamina’s advantage is the experience of its team in Peru and 100% title to its ground along with being fully permitted to drill at its flagship Usicayos gold project & Wisnhear (equity/royalty partner) being fully permitted to drill at its Gaban gold project.
What do you think makes your company such a compelling investment?
Drill discovery underway on 2 projects in under-explored Puno orogenic gold belt in SE Peru while holding most significant land bank of gold projects in POGB. Barrick taking major regional focus in Puno. Significant land bank of copper silver projects with high grade potential versus porphyry.
What are the top 3 key investor takeaways?
1) Participation in inaugural drilling at PA Usicayos Gold Project & WINS Gaban gold projects
2) Lack of juniors active in Peru spiking value for those drilling
3) Tight float with 72M shares outstanding . President of PA + Eric Sprott own 27% equity