Dec 24, 2022
We received a sponsor update from Fury Gold Mines' (TSX/NYSE American: FURY) from CEO Tim Clark and Exploration SVP Bryan Atkinson, and it was a big one. Fury drilled 13.5 meters of 8.05 G/T Gold at the Percival Project. The grade went as high as 25.8 G/T at 3 meters. These outstanding results virtually insure that the company will grow substantially and shareholders such as us will profit greatly.
Clark mentioned that the company's Dolly Varden Silver shares have been performing well as of late and are now worth over CAD $50 million. The company is sitting on $10 million in cash, which means Fury has an enterprise value of just CAD$9 million. A paltry valuation like this for a junior with all of Fury's attributes seems to defy reason.
Atkinson observed that Fury still has 13 other high-grade targets at Percival and is marching quickly ahead on the Newmont joint venture project as well. Now it's just a matter of pinpointing the most promising targets.
We suspected that great news would be forthcoming from Fury, but we had no idea how positive it would be. With the backing of Newmont and Agnico Eagle, through their equity positions, Fury represents the best in breed of a challenged junior mining sector. No doubt, 2023 will be a major turning point for Fury and the sector as a whole, and we're looking forward to being part of it, while sharing in the upside potential.
Company Website: www.FuryGoldMines.com