Reunion Gold

reunion gold_300x200

Primary ticker: TSXV:RGD
Stage of development: Exploration, Development
Primary mineral: Gold
Project to promote: Oko West
Project location: Guyana

Reunion Gold is a leading gold explorer in the Guiana Shield, South America focused on Guyana and Suriname. In 2021 the Company made an exciting new gold discovery at Oko West in Guyana, where, after 30 months of drilling the company has outlined a total resource of 5.9 Moz of gold grading 2.19 g/t. Preliminary metallurgical studies from Oko West showed recoveries in the mid 90’s and Guyana is a good mining jurisdiction with a straight forward permitting process, allowing the company to move the project along the development path very rapidly. The company intends to release a PEA by the end of Q2/24 and be permitted and be in a position to make a construction decision in Q2/25 with first production expected in 2027. In addition to its development programs the company continues to prioritize exploration both in exploring the remaining 4 km of trend that contain the resource and to acquire and explore new exploration projects both near Oko West and elsewhere in both Guyana and Suriname. The Company’s common shares trade on the TSX Venture Exchange under the symbol ‘RGD.V’ and on Nasdaq under ‘RGDFF.QX’



Major shareholders:
Dundee Resources – 14.8 %
Condire – 9.2 %
La Mancha – 8.3 %
Jupiter – 7.1 %
Libre – 4.5 % 
Management ownership – 6.4 %


Management Profile

David Fennell, Executive Chairman
David Fennell has been Chairman of Reunion Gold since its inception in 2003. He has 40 years of experience in the mining industry. He received a law degree from the University of Alberta in 1979 and practiced law until he founded Golden Star Resources Ltd in 1983. During his term as president and CEO, Golden Star became one of the largest and most successful exploration companies. While at Golden Star, he was instrumental in the discovery and development of the Omai Gold Mine in Guyana and the Gross Rosebel Mine in Suriname. In 1998, Mr. Fennell became chairman and CEO of Hope Bay Gold Corporation. He held this position through the merger of Hope Bay and Miramar Mining Corporation and remained as executive vice-chairman and director for the combined entity until its takeover by Newmont Mining Corporation in 2008. Mr. Fennell is currently a member of the board of directors of G Mining Ventures Corp. and Sabina Gold & Silver Corp. 

Doug Flegg, CFA,  Corporate Development 
Doug has over 35 years’ experience in mining and mining finance including senior positions in research, portfolio management and global equity sales. Previously, Mr. Flegg was Managing Director Global Mining Sales with BMO Capital Markets where he was involved in raising $35 billion in over 200 corporate financings. Since 2016 he has been providing business development, strategic, and financing advice to corporate mining clients. Mr. Flegg also has a B.Sc. in Geology, work experience as a geologist and an MBA from Queens University Kingston Canada.

What is your rationale for taking part 121 Mining Investment?

We are well financed and continue to move the company forward on a dual track program: 1: to rapidly advance the Kairuni zone at Oko West to a production decision by Q2/25 and 2) To continue to build exploration optionality in the company through exploration at Oko West outside of the Resource area and by acquiring and exploring additional projects. We expect to release a PEA by the end of Q2 as well as ongoing exploration results and news on the acquisition of new exploration project.

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

Release of updated resource of 5.9 Moz in Feb 2024 Expected release of a PEA by the end of Q2/24

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

3 Months:
Release of PEA Acquisition of exploration properties Drilling additional targets at Oko West


6 Months:
Acquisition and exploration of additional properties Exploration results on Oko West completing steps on permitting and development


12 Months:
Nearing completion of both the Feasibility study and permitting Ongoing exploration results on additional projects

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

We are moving the project very quickly down the path to development and planning on completing a feasibility study and permitting by Q2/25 which is a very fast time line. In order to achieve this we are working with G Mining services which has built several mines in this environment and we are also expanding our already strong in house mining team.

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

Oko West is one of the better undeveloped projects globally, it has scale at 5.9 Moz Grade at over 2.00 g/t open pit, straight forward permitting with the ability to move the project along quickly, exploration optionality, very strong mgt team and partnership with G Mining Services and good entry point with the shares trading well below the 52 week high and at a low multiple to consensus NAV compared to the peer group.

What are the top 3 key investor takeaways?

Oko West is a very strong project with significant size and high grades with a resource of 5.9 Moz grading 2.05 g/t, great potential economics including 500 koz of free digging Saprolite is present, open pit amenable, strong initial metallurgy results a significant initial underground resource which has the potential to be produced early in the mine life. Potential to make other satellite discoveries on Oko west outside of the Resource area and acquire and explore additional projects. We are well financed to advance the project