Greenheart Gold

Greenheart-Gold-300x200-1.jpg

Primary ticker: TSXV:GHRT
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Majorodam, Igab, Tosso Crk, Abuya, Tamakay
Project location: Guyana, Suriname 
Website: Greeneartgold.com

Greenheart Gold is a well financed exploration company that builds on a proven legacy of discoveries within the Guiana Shield, a highly prospective geologic terrain that hosts numerous gold deposits yet remains relatively under-explored. The Company is led by former executives of Reunion Gold, a team that was most recently noted for the discovery and delineation of the multi million-ounce Oko West deposit in Guyana, which was sold to and being advanced to production by G Mining Ventures. Greenheart Gold is building on its technical knowledge, strong contact base and success from exploring in the Guiana shield to assemble a portfolio of 5 very prospective early-stage exploration projects across Guyana and Suriname, where exploration programs are currently underway.

 

Cash: CAD$45M
Debt: /

 

Major shareholders:
G Mining Ventures 10.5%
Condire 9.9%
Dundee Corp 7.6%
Libra 6.5%
Scotia Asset Mgt 6.1% 
Management Ownership 4.60%

Financials

Management Profile

David Fennell, Executive Chairman
David Fennell has over 40 years of executive 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. As president and CEO, he led Golden Star to become one of the largest and most successful exploration companies, playing a key role 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, a position he held through the merger of Hope Bay and Miramar Mining Corporation. He continued as Executive Vice-Chairman for the combined entity until its acquisition by Newmont Mining Corporation in 2008. Mr. Fennell was the founder and Executive Chairman of Reunion Gold Corporation from 2003 until the completion of its business combination with G Mining Ventures Corp. He also served on the board of directors of several other publicly traded companies listed on the Toronto Stock Exchange and the TSX Venture Exchange.

 

Doug Flegg CFA, Senior Vice President Corporate Development
Doug Flegg has over 38 years’ experience in mining and mining finance with senior positions in research, portfolio management and global equity sales. As 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, more recently as part of the Reunion Gold leadership team. Mr. Flegg also holds the CFA designation, has a B.Sc. in Geology, work experience as a geologist and an MBA from Queens University.

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

Greenheart Gold is a new company, formed from the Spin out of Reunion Gold after it’s successful discovery of the 6 Moz (M&I&I) resource at Oko West and subsequent merger with G Mining Ventures. As a new, well financed company we are primarily seeking to improve the market awareness and understanding of Greenheart Gold, which we believe has a unique strategy for an exploration company.

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

We put out 4 press releases outlining a combination of exploration news and property acquisitions between January and Early March 2025. Being active on 5 projects, we expect to continue to generate good news flow.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Drilling underway on 1 to 2 projects and news advancing the remaining projects

 

6 Months:
Drilling underway on 2 to 3 projects and news advancing the other projects

 

12 Months:
Drilling to have occurred or be underway on all of our current 5 projects, with news on least 3 of them as to weather they are being advanced with potential resource drilling or being replaced with a new opportunity

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

The key risks facing the company, or any exploration company, are access to capital, ability to generate good exploration results and ability to find and acquire good projects. We addressed the access to capital risk by raising $51 Million soon after the company was formed when the opportunity was there, a process that was facilitated in part by our success at Oko West and in part by our strong institutional, corporate and strategic shareholder support which amounts to about 75% of our shareholder base. Our ability to generate results and acquire good projects is mitigated by our long standing and successful experience operating and exploring within the Guiana Shield. This includes a strong understanding of how to “get work done quickly and efficiently” within the jurisdictions of Guyana and Suriname as well as strong relationships with local prospectors and government officials.

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

We are an early stage exploration company focused on the Guiana Shield, which represents a highly prospective yet very underexplored geologic terrain. Our focus on early stage exploration is because it aligns with our area of expertise and we also feel that the discovery stage offers the highest potential returns within the life cycle of a mining company. We are the only company that is exploring projects in both Guyana and Suriname, which are our counties of focus. We have a legacy of mineral resource discovery in the Guiana Shield dating back to the 1990’s, mostly recently with the discovery of the Oko West deposit in Guyana that went from first resource drill hole in July 2021 to a 6 Moz M&I&I resource in just 36 months and was sold to GMIN 4 months later. We also have a unique strategy as an exploration company in that we expect to maintain a portfolio of 5 to 6 projects and cycle through these projects quickly, over 9 to 12 months, to reach a decision point to either advance the project to resource drilling or drop it in favor of a new opportunity. We feel that this strategy, combined with our $45 Million cash balance and along with our local knowledge and experience successfully exploring in the Guyana Shield will give our shareholders and ourselves the best possible chance of success.

What are the top 3 key investor takeaways?

Experienced executive and exploration team with a legacy of success in the Guiana Shield

Well financed with $45 million

Unique strategy, cycling through a portfolio of 5 to 6 projects which we feel provides best possible opportunity for a successful discovery

Exploring within the highly prospective yet underexplored Giana Shield in the mining friendly jurisdictions of Guyana and Suriname

Portfolio approach working on 5 or 6 projects provides good opportunity for strong news flow