The Critical Investor profiles Atlantic Gold, which expects to commission its Moose River gold mine in Nova Scotia by the end of this year.
Sometimes companies continue to fly under the radar of the big audience, despite having done almost everything right in the past few years, except maybe being too prudent on marketing. One of those companies is Atlantic Gold Corp. (AGB:TSX.V), which is currently building its Moose River gold mine in Nova Scotia, a mining friendly jurisdiction in Canada (#17 out of 109 according to the 2015/2016 Fraser Survey of Mining Companies). However, this junior isn’t completely unknown to the mining investment community, guys like Rick Rule recognized the potential early, and invested heavily together with other powerful backers, when the share price was much lower.
Construction activities are entering the final phase, which will allow Atlantic Gold to start commissioning the mine before the end of this year. The mine has an anticipated all-in sustaining cost of just CA$690 per ounce of gold, which is very close to, if not (in the Western hemisphere) industry-leading. As Atlantic Gold currently trades close to NAV, there is room for further appreciation as I will discuss further on in this article.
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Company
Atlantic Gold is a gold developer in Nova Scotia, Canada, has been around for quite a while, and is now nearing the apotheosis of its existence: bringing its first gold project into production. The Moose River Consolidated (MRC) gold project should be commissioned at the end of Q3/17, with commercial production to start shortly thereafter in Q1/18.
Atlantic’s management team is very experienced with Steven Dean as Chairman and CEO. Dean has a …read more