Nighthawk Gold Corp


Primary ticker: TSX:NHK, OTCQX:MIMZF
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Colomac Gold Project
Project location: Northwest Territories, Canada

Nighthawk Gold (C$55M marketcap; US$7/oz EV to Total Resources) is a well-funded gold explorer/developer (C$17M working capital on Dec 31) with a 2023 MRE Open-Pit (OP) of 3.6 Moz @ 1.58 gpt Au (Global MRE 5.1Moz @ 1.67 g/t Au) in NWT, CAN. Maiden Preliminary Economic Assessment (PEA) in mid-2023 is the key catalyst for the company as we demonstrate the large-scale potential of the Colomac Gold Operation. New management has mine building and operations experience, led by Keyvan Salehi P.Eng. (+20 years of mining experience, previously with Mountain Province Diamonds, Kirkland Lake Gold). NHK has strong institutional shareholder base.

Cash: CAD$17M
Debt: NIL

Major shareholders:
Northfield Capital – 13%
Ruffer – 7%
Franklin – 6%
Merk Investments LLC – 5%
Kinross – 4.6%
Management Ownership – 3%

Management Profile

Keyvan Salehi. P.Eng. – President & CEO
Mr. Salehi has over 20 years of industry experience having held various senior roles in operations, projects, and corporate development. Prior to joining Nighthawk, Mr. Salehi served as the Vice President of Corporate Development and Technical Services with Mountain Province Diamonds, where he was responsible for providing operational and technical oversight for the Mountain Province’s jointly owned 12,000 tonnes per day diamond mine in the Northwest Territories (introducing mine optimization initiatives to increase production and reduce costs). Mr. Salehi previously served as VP of Corporate Development and Technical Services for Kirkland Lake Gold (2016-2017), where he led the Company’s due diligence team behind the $2.4B merger with Newmarket Gold. He held the same position at St. Andrew Goldfields (2013-2016), where he spearheaded the Company’s sale process culminating in the sale to Kirkland Lake Gold in 2016.

Allan Candelario, CFA – VP, Investor Relations and Corporate Development
Mr. Candelario is an accomplished and impactful investor relations, capital markets and finance professional, bringing over 15 years of progressive experience. Most recently, Mr. Candelario was the Vice President, Investor Relations at Battle North Gold Corp., a Canadian gold developer with assets in the Red Lake Gold Camp in Northern Ontario. Allan was an integral member of the executive team that completed Battle North’s successful turnaround and the sale of the company to Evolution Mining Ltd. in 2021, delivering significant value to Battle North’s shareholders. Prior to Battle North, Mr. Candelario managed the top-ranked investor relations program at Alamos Gold Inc. and worked in equity research for Canadian bank-owned and independent broker dealers. Allan holds a Bachelor of Business Administration from the Schulich School of Business (York University) in Canada and is a CFA® charterholder (CFA Institute).

What is your rationale for taking part in 121 Mining Investment?

We want to create awareness of the significant progress we have made in advancing the Colomac Main and Satellite Deposits towards a potentially robust, large-scale, open-pit gold mining operation. We want to diversify our institutional shareholder base.

What recent news would you like to highlight to investors attending?

March 8, 2022: Nighthawk Gold Reports Substantial Expansion of 121% in the Indicated Category and 1,400% in the Inferred Category in Pit-Constrained Mineral Resource Ounces; Re-Envisioning the District as a Potential Large-Scale Open-Pit Project

September 1, 2022: Nighthawk Gold Reports 2.91 g/t Au over 54.35 metres at the 24/27 Deposit and 3.02 g/t Au over 20.25 metres at the Grizzly Bear Deposit within the Colomac Centre Area

October 27, 2022: Nighthawk Gold Reports 2.09 g/t Au over 92.0 m and 2.72 g/t Au over 34.50 m from the Colomac Main Deposit

November 15, 2022: Nighthawk Gold Reports 916.00 g/t Au over 0.50 m (with 232.18 g/t Au over 2.00 m) at the Cass Deposit

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Deliver an updated Mineral Resource Estimate for the Colomac Gold Project

6 Months :
Deliver a maiden PEA on the Colomac Gold Project

12 Months:
Continue to drill and advance the Colomac Gold Project and grassroots targets

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

As an exploration company we perpetually need to raise capital to carry out our goals and objectives, however, with supportive shareholders and strategic partners, the Company feels financing risk is low considering our strong cash balance. With an aggressive drill program planned, any disruption to operations due to changing Covid conditions, inflation, the war in Ukraine, could impact these plans, but the Company believes it has flexibility to work around any impact.

What do you think makes your company such a compelling investment?

Nighthawk offers investors exposure to a potentially robust, large-scale, open-pit gold mining operation (Colomac Gold Project) in a safe mining jurisdiction.(NWT, Canada). Currently trades well below the average valuation of gold developers and explorers in safe mining jurisdictions at US$6 per total global resource ounce

What are the top 3 key investor takeaways?

1. Trading at roughly US$6/total resource ounce. Probably one of the cheapest gold development stories (4.0Moz of gold; updated MRE due in February 2023) in a safe jurisdiction
2. New, young management team has significant experience in mine building and advancing development stage projects
3. Strong support from institutional shareholder base