Junior mining companies are on the move, as gold spikes to $1950 per-ounce on Friday. Investors looking for higher returns and assets trading at a discount often play in the junior mining space. These companies are usually exploring and developing assets by conducting drill programs to identify a resource and potentially get to a definitive feasibility stage, and into production.  

A company that has performed extremely well during these unprecedented times is Prime Mining Corp. (TSX.V: PRYM), which is currently developing their Los Reyes project in Sinaloa, Mexico. The company currently has a gold resource of  Measured & Indicated: 633,000oz gold and 16,604oz silver, as well as an Inferred resource: 179,000oz gold and 6,831oz silver.

The current resource is open at strike and at depth, 8 to 10 new high-grade underexplored surface discoveries for drill testing. Untested new claim blocks added to project have yet to be explored.

“Los Reyes is an exceptional opportunity for exploration and development. The Company will continue to drill in order to expand existing data as well as identify promising new targets.”  — Company CEO, Dan Kunz  

Nearby are multiple mines and major producers including: Americas Gold and Silver (TSX: USA; NYSE: USAS) / Minera Alamos (TSXV: MAI) / First Majestic (NYSE: AG; TSX: FR) / McEwen Mining (TSX and NYSE: MUX) / Chesapeake (TSX: CKG)

Currently, the company is trading at $1.72 per share. The 52 week high/low is $2.17/$0.25 respectively, and has 84M shares outstanding, giving it a market cap of $145M as of today.

Prime Mining is run by a team of highly successful mining executives. The current Chairman & Director - Murray John:

• Held several senior positions for mining companies including: Chairman, Discovery Metals; Director, Osisko Gold Royalties and O3 Mining.
• As well was the former President and CEO, Dundee Resources and Managing Director and Portfolio Manager with Goodman Investment Counsel.

Daniel J. Kunz - CEO & Director:

• Mining engineer with over 35 years experience in mining (building and financing) .
• Mr. Kunz is the former CEO, Ivanhoe Mines, founder and CEO of US Geothermal and senior officer of Morrison Knudson Corporation & MK Gold Company.

Andrew Bowering - Executive VP & Director:

• 30+years experience as owner operator of drilling companies and leadership in worldwide mineral exploration and development.
• Founder/operator of Caldera Environmental, Pinnacle Mines, ATW Gold, Cap-Ex Iron Ore, Millennial Lithium, and American Lithium Corp.

With such a powerhouse team, and multiple successful mining companies/exits, the sky is truly the limit for Prime Mining Corp.

‍

‍Have feedback on this article? Concerned about the content?

Get in touch with us directly Alternatively, email suneal@thegoldstocks.com‍

The Gold Stocks website (www.thegoldstocks.com) is owned by Machai Capital. Machai is a Vancouver, British Columbia-based marketing, advertising, and public relations company. Our writings are not designed to provide financial advice. It is not an advice to buy or sell any stock, and it does not take into consideration your objectives or financial position.

Address: 200-17618 58 Ave, Surrey, BC, V3S1L3.