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Wednesday, October 18, 2017 Derek Macpherson

RDS Extends Vintage Zone

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Radisson Mining Resources Inc. (TSXV:RDS) has announced that they have extended the Vintage Zone by an additional 125m along strike (Figure 1). The company intersected 2.9m of 9.7 g/t Au along strike towards the past-producing O’Brien Mine. We continue to view the discovery of this zone very positively, as it has the potential to materially expand the existing resource, while adding ounces per vertical meter which could expand a future production scenario. The extension of this zone to 325m of strike length, supports our view. The company is awaiting 20 drill holes currently being assayed for a total of approximately 10,500m, which we believe could continue to expand the Vintage zone. The discovery also suggests that the opportunity exists for the company to discover additional zones within the Cadillac and Pontiac sediments. At C$49/oz, Radisson trades in line with peers at C$49/oz; however, this does not properly reflect the recent discovery and expansion of the Vintage Zone, or the expected resource increase with the pending resource update (Q4 2017). We note the company continues to be actively exploring in the sediments around the Vintage zone (results pending) and near the current resource. read more


Tuesday, October 03, 2017 Derek Macpherson

RDS Drilling Intersects Good Grades over 200m of Strike Length at Vintage

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Radisson Mining Resources Inc. (TSXV:RDS) reported drill results from exploration in the Vintage zone, north of the Larder-Lake-Cadillac fault, at its O’Brien gold project in Quebec (Figure 1). Results from the first four holes intersected mineralization over 200m along strike, east to west, in the Vintage zone which remains open in all directions. Additional results are pending for 6 holes over (3,506m). Highlighted intersections include holes OB-17-42 grading 13.7 g.t Au over 1.5m, OB-17-43 grading 15.0 g/t Au over 1.5m in a wider interval and OB-17-45 grading 8.6 g/t Au over 1.5m, with visible gold identified in OB-17-42 and OB-17-43. We view the discovery of the Vintage zone as material for two reasons, first by widening the mineralized area they have increased the ounces per vertical meter, suggesting both a larger resource and larger future operation are possible. Secondly, by finding a concentration of economic grades, outside the traditional Piche Volcanics (host of the current resource) the opportunity exists for the discovery of similar zones in both the Cadillac and Pontiac sediments. At C$54/oz, Radisson trades closely to peers at C$49/oz; however, this does not properly reflect the recent discovery of the Vintage, or the expected resource increase with the pending resource update (Q4 2017). We note the company continues to be actively exploring in the sediments around the Vintage zone (results pending) and near the current resource. read more


Tuesday, September 12, 2017 Derek Macpherson

Radisson Identifies New Zone; Notes VG

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Radisson Mining Resources Inc. (TSXV:RDS) reported results from ongoing drilling at its O’Brien gold project in Quebec. Results were highlighted by hole OB-17-25W intersecting 12.9 g/t Au over 8m within a wider interval grading 2.8 g/t over 54m (Figure 1). As well, visible gold was identified in two exploration holes in the new Vintage zone by which targets were identified through historical data. Additional results are expected for 21 drill holes, as drilling continues during the 20,000m program including results from the Vintage zone. The company noted it will also be reviewing historic near-surface drill holes from the 36E zone. We expect upcoming drill results, both new and historic, to highlight the properties potential and begin to define resources. At C$49/oz, Radisson continues to trade at a discount to peers at C$52/oz. The nearby infrastructure, higher grades and the potential for resource expansion that is demonstrated with ongoing drill results at O’Brien, we believe the company could trade at a premium to peers. In our view, the current drill program, together with the re-logging and selective re-assaying of historic drill core and the digitization of historic data (resource estimate Q3 2017), including exploration at Douay should provide positive catalysts for the stock and close the valuation gap to peers. read more


Tuesday, August 15, 2017 Derek Macpherson

Radisson Begins IP Survey at Douay

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Radisson Mining Resources Inc. (TSXV:RDS) has begun a 42km Induced Polarization (IP) geophysical survey at its Douay property. The company has compiled historical exploration work, which has identified four gold trends and other exploration targets. The IP survey will aide to identify new drilling targets, specifically at the Vezza mine gold trend. In addition, at its O’Brien gold project the company has completed 11,000m of drilling (24 holes) between April 2017 and July 2017, which tested the F Zone, 36E and Kewagama zones as well as targets parallel and along strike of the O’Brien deposit. At C$52/oz, Radisson continues to trade at a discount to peers at C$59/oz. In addition to current exploration at Douay, at O’Brien, the nearby infrastructure, higher grades and the potential for resource expansion that is demonstrated with ongoing drill results, we believe the company could trade at a premium to peers. In our view, the current drill program, together with the re-logging and selective re-assaying of historic drill core and the digitization of historic data (resource estimate Q3 2017), including exploration at Douay should provide positive catalysts for the stock and close the valuation gap to peers. read more


Monday, May 15, 2017 Derek Macpherson

Eldorado Comes to Canada; To Acquire ICG

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Integra Gold Corp. (TSXV:ICG) and Eldorado Gold Corp. (TSX:ELD, NYSE:EGO) announced that they have entered into a definitive agreement for Eldorado to acquire Integra for ~C$1.21 per share in either Eldorado shares (0.24250 Eldorado shares), cash of C$1.21250 or cash and shares (0.18188 and C$0.30313). Compensation available to Integra shareholders is limited to C$129 million in cash (~25% of the transaction). The offer by Eldorado represents a 52% premium of the May 12, 2017 close, and a 46% premium based on the 20-day volume weighted average price (VWAP). This consideration represents, 1.0x NAV and US$122/oz, which is a premium to precedent transactions (0.7x NAV and US$41/oz). With this being a friendly transaction and taking into account the valuation, we believe there is a low probability (~10-15%) of a higher bid materializing from one of the larger players in the region or a new entrant. However, this should benefit smaller regional players like Radisson Mining Resources Inc. (TSXV:RDS), Monarques Gold Corp. (TSXV:MQR), Probe Metals Inc. (TSXV:PRB), QMX Gold Corp. (TSXV:QMX) and Alexandria Minerals Corp. (TSXV:AZX) and continues to highlight the scarcity of political stable development projects as we have previously highlightedread more


Tuesday, May 09, 2017 Derek Macpherson

Radisson Continues to Grow Resources at O'Brien

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Radisson Mining Resources (TSXV:RDS) announced drill results from two additional holes completed in 2017 both of which we expect to be added to the current resource at its O’Brien gold project in Quebec. Results continue to highlight the project’s potential for resource growth, as both holes intersected significant mineralization outside the current resource. As well, hole OB-17-25 intersected 1 g/t Au over 93m, which is a much wider interval than we have typically seen from O’Brien (Figure 1). Assays are still pending for 8 holes covering 3,500m. Currently, two drill rigs are operating at the project, one at the 36E and Kewagama areas targeting resource expansion and the second following up on exploration targets. Radisson currently trades at a discount to peers, C$50/oz vs. peers at C$58/oz, which we believe fails to reflect the exploration potential of O’Brien. read more


Tuesday, April 04, 2017 Derek Macpherson

Radisson Continues to Deliver Drill Joy

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Radisson Mining Resources (TSXV:RDS) announced positive drill results from two additional holes at its O'Brien gold project in Quebec. Exploration results from the volcanics, in our view, are likely to expand the existing resource, along the western edge. As well, the company announced plans to start a second drill later this week, testing recently identified targets in the Pontiac sediments. We view the progress positively, as the company continues to expand resources in the volcanics and exploration success in the Pontiac sediments have the potential to be game changing for the company. Radisson currently trades at a discount to peers, C$48/oz vs. peers at C$64/oz, which we believe fails to reflect the exploration potential at O’Brien. read more

Wednesday, March 01, 2017 Derek Macpherson

Radisson Reports Further Significant Results

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Radisson Mining Resources (TSXV:RDS) announced positive drill results from four additional holes at its O'Brien gold project in Quebec. Significant assays continue to be received from the Pontiac sediments to the south and from the Piche volcanics where the current resource is hosted. Exploration results from the volcanics, in our view, are likely to expand the existing resource. The company is also in the process of re-logging and sampling previously drilled core from both the Pontiac and Cadillac sediment groups. While early days, results from these initiatives combined with results from the ongoing drilling has the potential to expand the resource area beyond the volcanics, which could be game changing for the company. Radisson currently trades at a discount to peers, C$50/oz vs. peers at C$62/oz, which we believe fails to reflect the exploration potential at O’Brien. read more


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