Reunion Gold
Primary ticker: TSXV:RGD
Stage of development: Exploration, Development
Primary mineral: Gold
Project to promote: Oko West
Project location: Guyana
Website: www.reuniongold.com
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’
CASH: CAD$70M
DEBT: NIL
Major shareholders:
Dundee Resources – 14.8 %
Condire – 9.2 %
La Mancha – 8.3 %
Jupiter – 7.1 %
Libre – 4.5 %
Management ownership – 6.4 %
Financials
Management Profile
Doug Flegg, CFA, Corporate Development
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.