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Thursday, August 10, 2017 Derek Macpherson

GQC Grows Cachimbo with the Drill Bit

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GoldQuest Mining Corp. (TSXV:GQC) reported results from an additional 4 holes drilled at the Cachimbo discovery within its Tireo Concessions, all of which successfully intersected gold in a VMS system (Figure 1). Results were highlighted by hole TIR-17-35 which intersected a second deeper zone grading 1.08 g/t Au, 1.68 g/t Ag, 0.01% Cu and 0.09% Zn over 46.6m, 160m southeast of the discovery hole (TIR-16-09). To note, hole TIR-17-33 was drilled 50m southeast of the discovery hole, while hole TIR-17-34 suffered a mechanical error, TIR-17-35 hit the target. Mineralization continues to remain open along strike, and down-dip of the discovery, exploration continues with the goal to uncover systems similar to Romero. Although early in the exploration stage, initial results are positive and point to the potential for a large-scale deposit. GoldQuest currently trades at $29/oz versus peers at $28/oz. We continue to believe that the current valuation does not fully reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with follow-up drilling at Cachimbo are likely to be positive catalysts for the stock. read more


Thursday, July 13, 2017 Derek Macpherson

GQC Results Similar to Cachimbo Discovery Hole

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GoldQuest Mining Corp. (TSXV:GQC) reported 4 drill results from the Cachimbo discovery within the company’s Tireo Concessions. Hole TIR-17-32 intersected 22.31 g/t Au, 52.81 g/t Ag, 3.10% Zn and 0.46% Cu (25.91 AuEq) over 2.7m within a wider interval. The hole is located 50m from the Cachimbo discovery hole TIR-16-09, announced in January of this year, noting similar grades and mineralization. In addition, hole TIR-17-30 intersected mineralization 100m east of the discovery hole, while the remaining two holes were immaterial and further work is required for the target. Early results are encouraging for the potential of a larger scale deposit. GoldQuest currently trades at $32/oz versus peers at $30/oz. We continue to believe that the current valuation does not fully reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with follow-up drilling at Cachimbo are likely to be positive catalysts for the stock. read more


Tuesday, June 06, 2017 Derek Macpherson

GQC Continues to Hit Gold at Cachimbo

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GoldQuest Mining Corp. (TSXV:GQC) reported 8 drill results from its ongoing ~10,000m drill program, targeting the Cachimbo discovery within the company’s Tireo Concessions (Figure 1). Results were highlighted by Hole TIR-17-28 which included an interval of 22.3 g/t Au, 76.8 g/t Ag, 10.7% Zn and 1.02% Cu over 0.3m. In our view, these results support the potential of the new discovery at Cachimbo; however, it remains early days and more work is needed to determine its scale and potential economic impact. The company plans to continue to drill test the area along strike to the southeast and northwest. The remaining results were from Mineros Ridge and Las Avispas, the company will be reviewing the results to determine the appropriate strategy. GoldQuest currently trades at 0.39x NAV and $31/oz versus peers at 0.52x NAV and $33/oz. We continue to believe that the current valuation does not fully reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with follow-up drilling at Cachimbo are likely to be positive catalysts for the stock. read more


Tuesday, April 18, 2017 Derek Macpherson

GQC's Team Additions Support Romero Development

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GoldQuest Mining Corp. (TSXV:GQC) has appointed Georges Boissé former Canadian Ambassador to the Dominican Republic (2012) as Special Advisor to the company and Robert Crowley former US Agency for International Development/US Department of Agriculture liaison as Corporate and Social Responsibility (CSR) Manager. We view the new additions to the management team positively as it supports the development of Romero, as the company continues to advance the project and moves through the permitting process. GoldQuest currently trades at 0.44x NAV and $37/oz versus peers at 0.54x NAV and $35/oz. We continue to believe that the current valuation does not fully reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with follow-up drilling at Cachimbo are likely to be positive catalysts for the stock. read more


Friday, March 31, 2017 Derek Macpherson

GQC’s Regional Exploration Reveals Two New Zones

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GoldQuest Mining Corp. (TSXV:GQC) released results from eight additional holes drilled as part of the ongoing minimum 10km regional program at the company’s wholly owned Tireo property in the Dominican Republic. These results were highlighted by the discovery of two new gold zones Mineros Ridge and Vaca Valley zones. Results from both zones, appear to be similar to the lower grade halo surrounding the 2.5M oz AuEq (23Mt at 3.35 g/t AuEq) Romero deposit. Although follow-up drilling is required to determine these new discoveries value, we view the results positively as it continues to highlight GoldQuest’s regional exploration potential. Recent exploration success, along with the strategic investment by Agnico Eagle (TSX:AEM) have helped close the valuation gap to peers. However, we continue to believe that the current valuation does not fully reflect GoldQuest’s exploration upside. read more

Monday, March 06, 2017 Derek Macpherson

AEM Buys 15% of GQC at a Premium

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GoldQuest Mining Corp. (TSXV:GQC) announced a private placement with Agnico Eagle Mines Ltd. (TSX:AEM, NYSE:AEM) for C$22.86 million to fund working capital and the exploration and development of its properties in the Dominican Republic. In our view this investment by Agnico provides technical validation for the Romero project, and highlights the exploration potential of its district scale land package. The financing consists of 38.1 million common shares priced at C$0.60/sh which represents a 27.7% premium to the prior day’s close. As a result of the transaction, Agnico would own ~15% of GoldQuest on a non-diluted basis. In conjunction with the financing, Agnico has been granted the right to nominate one director and maintain its interest in future financings. GoldQuest currently trades at 0.54x NAV and $42/oz versus peers at 0.51x NAV and $35/oz. We believe that a further premium may be warranted because of Romero’s stage of development and the exploration potential of the company’s district scale land package. We expect the combination of the ongoing de-risking at Romero (feasibility study in early 2017 & operating permits in late 2017) along with ongoing regional exploration are likely to provide positive momentum for the share price. read more


Sunday, February 26, 2017 Derek Macpherson

RCKS Pre-PDAC Mining Showcase Presenter Preview

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On Friday March 3th, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Pre-PDAC Mining Showcase. The event features presentations from 21 companies, including a themed lunch presentation by leading corporations in the gold mining sector. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 21 presenting companies and 13 banner sponsors that will also be in attendance.  read more


Tuesday, January 10, 2017 Derek Macpherson

GQC Discovers New VMS Zone at Tireo

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GoldQuest Mining Corp. (TSXV:GQC) announced the discovery of new zone, Cachimbo along with additional results from its regional exploration program. This new VMS zone was intersected on multiple horizons and the results were highlighted by 13.8 g/t Au, 73.7 g/t Ag, 11.8 % Zn and 1.1% Cu over 4.9m (TIR-16-09) and is located 20.5km to the South of the company’s 2.5M oz AuEq (23Mt at 3.35 g/t AuEq) flagship Romero gold-copper project. These results from target 3 of 20 in the current regional exploration program highlight that Goldquest’s district-scale land package along the Tireo formation has the potential to yield multiple discoveries. In our view, GoldQuests current valuation, at 0.36x NAV and $27/oz (peers 0.48x NAV and $39/oz) does not account for the exploration upside demonstrated today. In our view, this drilling success could be the catalyst that starts to close the valuation gap to peers.  read more


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