Highlights
Discovering the Next Major Gold Camp
Emerging Gold Camp | Tier 1 Jurisdiction |
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District Scale Land Package
| Finland Ranks High For Mining Investment
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Prospective Geology
| Excellent Infrastructure and Access
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Multiple New Discoveries
| Transparent Permitting Process
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Aurion’s Multiple Value Drivers
 | Joint Ventures with B2Gold, Kinross and KoBold
Multiple Discoveries on Wholly Owned Properties
Strong Interest from Major Gold Producers
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New Discoveries Generate Outsized Returns
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Creating Value Through Mergers & Acquisitions
A significant amount of value has been created for shareholders of early exploration stories
The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies
| Pre-Resource Precedent Acquisitions | ||||||||||
| Announce Date | Target Name | Acquiror Name | Project Country | Value (US$M) | Deal Premium (Last Day) | Deal Premium (20 Day VWAP) | Gold Price (US$/oz) | Exploration Spend (US$M) | Number of Holes Drilled | Number of Metres Drilled (m) |
| 08-Dec-21 | Great Bear Res. | Kinross Gold | Canada | $1,430 | 26% | 48% | $1,780 | $60 | 500 | 350,000 |
| 12-Apr-17 | Battle Mtn. Gold | Gold Std. Ventures | USA | $26 | 40% | 103% | $1,274 | $3 | 12 | 5,000 |
| 08-Sep-14 | Cayden Res. | Agnico Eagle Mines | Mexico | $146 | 43% | 33% | $1,266 | $14 | 231 | 46,864 |
| 31-Jul-08 | Gold Eagle Mines | Goldcorp | Canada | $1,360 | 19% | 36% | $917 | $28 | 125 | 97,000 |
| 05-Dec-05 | Virginia Gold | Goldcorp | Canada | $414 | 29% | 43% | $593 | $12 | 212 | n/a |
| Average | $675 | 31% | 53% | $1,166 | $23 | 216 | 124,716 | |||
| Median | $414 | 29% | 43% | $1,266 | $14 | 212 | 71,932 | |||
| Precedent Transactions | ||||||||
| Announce Date | Target Name | Acquiror Name | Project Country | Value (US$M) | Deal Premium (Last Day) | Deal Premium (20 Day VWAP) | Gold Price (US$/oz) | Exploration Spend (US$M) |
| 08-Dec-21 | Great Bear Res. | Kinross Gold | Canada | $1,430 | 26% | 48% | $1,780 | $60 |
| 10-Mar-21 | GT Gold | Newmont Mining | Canada | $365 | 62% | 38% | $1,715 | $28 |
| 02-Nov-20 | Monarch Gold | Yamana Gold | Canada | $114 | 41% | 43% | $1,888 | $13 |
| 30-Jul-20 | Eastmain Res. | Auryn Resources | Canada | $88 | 137% | 123% | $1,957 | $51 |
| 02-Mar-20 | Balmoral Res. | Wallbridge Mining | Canada | $83 | 46% | 46% | $1,645 | $52 |
| 12-May-16 | Kaminak Gold | Goldcorp | Canada | $358 | 33% | 40% | $1,276 | $100 |
| 19-Jan-15 | Probe Mines | Goldcorp | Canada | $393 | 49% | 30% | $1,277 | $49 |
| 12-Nov-12 | Queenston Mining | Osisko Mining | Canada | $436 | 20% | 37% | $1,731 | $61 |
| 15-Oct-12 | Prodigy Gold | Argonaut Gold | Canada | $285 | 58% | 54% | $1,760 | $33 |
| 27-Apr-12 | Trelawney Res. | IAMGOLD | Canada | $514 | 42% | 37% | $1,661 | $61 |
| 01-Apr-12 | Comaplex Minerals | Agnico Eagle Mines | Canada | $695 | 27% | 33% | $1,115 | n/a |
| 22-Mar-10 | Brett Res. | Osisko Mining | Canada | $304 | 56% | 52% | $1,108 | $27 |
| 14-Feb-07 | Cumberland Gold | Agnico Eagle Mines | Canada | $574 | 29% | 24% | $748 | $58 |
| Average | $351 | 50% | 46% | $1,490 | $48 | |||
| Median | $361 | 44% | 39% | $1,653 | $51 | |||
Source: S&P Capital IQ and Company documents
Multiple Bidders – Shareholders Win!
 | Shandong Acquisition of Cardinal Resources
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Total return to shareholders from the March 13, 2020 closing price was approximately 440% | |
Zijin Acquisition of Guyana Goldfields
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Total return to shareholders from the April 24, 2020 closing price was approximately 350% | |
Positioned to Execute
 | Experienced Management Team and Board
Aligned with Shareholders
Well Funded with about C$10 million in working capital
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Ownership & Capital Structure
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Major Shareholders: | Analyst Coverage: |
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