On Behalf of Opawica Explorations Inc.
Gold has surged to a record $2,700 per ounce, driven by rising US debt, central bank buying, and a weakening dollar, says Sprott Asset Management. Now, analysts see gold prices to reach $3,000 in 2025 due to the ongoing weakness of the US dollar, while some expect $2,800 in the next three months. In the midst of this gold rally, Canada’s upcoming elections could supercharge its mining sector. BC Conservative leader John Rustad is pushing for a streamlined approval process that fast-tracks mining projects, positioning companies like Opawica Explorations Inc. (TSXV:OPW) (OTCQB:OPWEF), Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM), Eldorado Gold Corporation (NYSE:EGO) (TSX:ELD), IAMGOLD Corporation (NYSE:IAG) (TSX:IMG), and Osisko Mining Inc. (TSX:OSK) for an exciting year ahead.
Opawica Explorations Inc. (TSXV:OPW) (OTCQB:OPWEF) is a junior Canadian exploration company advancing two precious and base metal projects within the Abitibi Gold Belt, one of Canada’s most prolific mining regions. Known for its accessible, high-grade deposits and extensive infrastructure, the Abitibi Belt attracts some of the industry’s largest players, including Agnico Eagle, Newmont, and Hecla Mining.
Opawica’s assets within this district include the Arrowhead property, which is surrounded by Agnico Eagle Mines and other established producers, and the Bazooka property, located adjacent to Yamana Gold’s Wasamac Project. Both properties benefit from established infrastructure, including road access, water, and hydroelectric power, allowing for cost-efficient exploration and positioning Opawica for significant resource expansion at reduced costs.
As M&A activity grows with rising gold prices, major acquisitions have reshaped the North American gold sector. Agnico Eagle merged with Kirkland Lake Gold for $13.5 billion in 2022, gaining assets like Macassa and Detour Lake Mines. In 2023, Agnico acquired Yamana Gold’s 50% stake in the Canadian Malartic Mine for $4.8 billion, securing full ownership, while Gold Fields purchased other Yamana assets. Most recently, Quebec’s Yorbeau Resources sold its Rouyn gold property to Lac Gold Pty Ltd. for US$25 million.
Given this environment, companies with under-developed but high-potential land packages, like Opawica’s Arrowhead property, located near Agnico Eagle Mines, and the Bazooka property, which is contiguous with Yamana’s Wasamac Gold Project, offer strong potential for future strategic acquisitions and exploration, supported by high-grade resources and well-established infrastructure.
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Gold Production, Drilling Success, and Major Acquisitions in the Mining Sector
Agnico Eagle Mines Limited (NYSE:AEM) (TSX:AEM) projects that itsMeliadine gold mine near Rankin Inlet will hit a milestone in November, producing two million ounces of gold since operations began in 2019. This equals about 57 tonnes, or roughly 28.5 small elephants. The mine processes around six tonnes of ore daily, producing a 28-kilogram gold brick, similar in size to a loaf of bread. Meliadine is one of three Agnico Eagle sites in Nunavut, contributing 25% of the company’s $377.5 million quarterly net income. The mine employs 1,500 workers, with 700 on-site at any given time.
Eldorado Gold Corporation (NYSE:EGO) (TSX:ELD) reported gold production of 122,319 ounces in Q2 2024, up 12% from Q2 2023, driven by increased output at Lamaque and Kisladag. Gold sales totaled 121,226 ounces at an average price of $2,336 per ounce. Revenue rose 30% to $297.1 million, with net earnings of $56.4 million ($0.28 per share), significantly higher than Q2 2023. Total cash costs were $940 per ounce, and all-in sustaining costs reached $1,331 per ounce. Eldorado maintains its annual production guidance of 505,000 to 555,000 ounces of gold for 2024.
IAMGOLD Corporation (NYSE:IAG) (TSX:IMG) recently reported assay results from its 2024 drilling program at the Nelligan Project, confirming the extension of mineralized zones. Highlights include 46.1m at 1.08 g/t Au and 18.8m at 3.26 g/t Au in various drill holes. IAMGOLD also updated the Monster Lake Project’s mineral resource estimate, now including 239,000 tonnes at 11.0 g/t Au for 84,200 ounces (indicated) and 1,053,000 tonnes at 14.4 g/t Au for 488,500 ounces (inferred). Both projects are located in Quebec’s Chibougamau region, with significant potential for future resource expansion.
On October 17, Osisko Mining Inc. (TSX:OSK)announced that shareholders have overwhelmingly approved the Plan of Arrangement, allowing Gold Fields Limited to acquire all outstanding Osisko shares for C$4.90 per share, in a deal valued at C$2.16 billion. The price represents a 55% premium to the 20-day average trading price. Osisko CEO John Burzynski praised the transaction as a strong outcome for shareholders, emphasizing the Windfall Project’s value. Gold Fields CEO Mike Fraser expressed enthusiasm for advancing Windfall into production and strengthening relationships with local communities in Québec. All necessary approvals for the transaction have been secured.
Opawica Explorations Inc. (TSXV:OPW) (OTCQB:OPWEF) plans to complete a non-brokered private placement of up to 6,666,666 units, aiming to raise $1 million.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Opawica Explorations Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Opawica Explorations Inc.’s industry; (b) market opportunity; (c) Opawica Explorations Inc.’s business plans and strategies; (d) services that Opawica Explorations Inc. intends to offer; (e) Opawica Explorations Inc.’s milestone projections and targets; (f) Opawica Explorations Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Opawica Explorations Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Opawica Explorations Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Opawica Explorations Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Opawica Explorations Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Opawica Explorations Inc.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Opawica Explorations Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Opawica Explorations Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Opawica Explorations Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Opawica Explorations Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Opawica Explorations Inc.’s business operations (e) Opawica Explorations Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Opawica Explorations Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Opawica Explorations Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Opawica Explorations Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Opawica Explorations Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Opawica Explorations Inc. or such entities and are not necessarily indicative of future performance of Opawica Explorations Inc. or such entities.
8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Mr. Yvan Bussieres, P. Eng, for the Quebec’s properties and Mr. Derrick Strickland, P. Geo, (L5569) for the Newfoundland properties at Generation Uranium as the Qualified Person for the Company as defined in National Instrument 43-101.
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