Key Consultants Engaged To Advance Moss Gold Project

Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) has announced significant progress on the Moss Gold Project with the engagement of key consultants G-Mining Services Inc. and One-eighty Consulting Group Ltd. This strategic move aims to advance the project through a detailed Preliminary Economic Assessment (PEA) and streamline the regulatory process for future development.

Michael Henrichsen, CEO of Goldshore, expressed confidence in this direction, stating in the company news release, "We are pleased to continue to execute on our strategic plan through the appointment of both G Mining and one-eighty to meaningfully advance the Moss Gold Project. We believe the PEA will demonstrate the deep value proposition of the Project and, with the development of a strategic permitting plan, the Company will have a clear path forward as we advance the Project through prefeasibility and feasibility studies."

G-Mining Services, renowned for its comprehensive mining consultancy, will deliver a PEA by the end of Q1 2025. This assessment will include cash flows, net present value (NPV), internal rate of return (IRR), and payback period, essential metrics for evaluating the project's economic potential.

One-eighty Consulting Group will develop a strategic regulatory plan aiming to facilitate a streamlined path to construction and commercial production. This plan will address socio-political, technical, and environmental considerations, ensuring a thorough approach to regulatory compliance and community engagement.

All That Glitters In the Gold Market

The gold sector has continued to attract substantial interest and investment due to its enduring value and stability, especially amid global economic uncertainties. This sector's appeal is evident through various expert analyses and market trends highlighting its resilience and growth potential.

Barry Daws from Martin Place Securities, in a July 5 video with Ausbiz, explained, "The resiliency of gold is very impressive," emphasizing the strong performance of gold stocks. Dawes predicted a robust performance for gold stocks in the latter half of 2024, stating, "Gold stocks versus gold are performing very constructively and should be very strong in the December half of 2024." He described the technical indicators as highly favorable and underscored the positive long-term trend, indicating a strong future for gold investments.

Ryan McIntyre of Sprott also highlighted the current investment potential in gold mining stocks, noting in a June 28 article with Kitco, "Gold mining stocks are actually a great spot to be. They haven't kept up to even the gold price this year." He suggested that the underperformance of gold miners relative to gold prices presents a favorable investment opportunity for new investors. McIntyre's insights underscore the attractive valuations in the gold mining sector, suggesting a strategic entry point for those looking to capitalize on future gains.

prices are making all-time highs in yen, and it's about to move up in euros and pounds," highlighting the strong global demand for gold.

Matthew Piepenburg from Von Greyerz emphasized the strategic shift in the global financial landscape on July 10, stating, "The now undeniable fact that gold is replacing the UST as a global reserve asset." Piepenburg also pointed out that the "common sense reality of unsustainable debt and its now obvious ripple effects . . . culminate in a realistic and sober discussion of gold," underscoring the importance of gold as a stable asset in uncertain economic times. His observations highlight the increasing accumulation of gold by central banks, which prefer physical gold over U.S. debt obligations, reflecting a growing preference for tangible assets.

The sector's cultural and industrial significance is also noteworthy. Kyle Roderick from Forbes, writing about the IAC's Expanding Horizons Conference on July 9, highlighted that "Gold and diamonds have always been treasured for their beauty and rarity. In addition to their preciousness and decorative value, they are central to many industrial applications and will always hold a special place economically and socially." Roderick further noted that "Responsible mining and sourcing are now an impactful enhancement to their value," reflecting the industry's commitment to ethical practices and sustainable development.

Stewart Thomson, in his June 19th report on 321 Gold, predicted a significant breakout in the gold market, stating, "Technically, an upside breakout is favored, with a US$2,600 target for gold." He highlighted critical support levels, indicating the market's resilience and strong foundation. Thomson's insights emphasize the significant growth potential and investor interest in gold at these price levels, suggesting a favorable outlook for the sector.

Moreover, the current market conditions have presented strategic investment opportunities. A June 18th report on Katusa Research indicated that despite the rising gold prices, the relative affordability of mining stocks has presented a timely entry point for investors. The forecasted growth in the global space industry, expected to double by 2030, also suggests a potential surge in gold demand due to its use in advanced technologies.

What This Means For Goldshore and Their Partners

As touted in the company announcement, the appointment of G-Mining Services Inc. is a pivotal step for Goldshore Resources Inc. in advancing the Moss Gold Project. With G-Mining's extensive experience and previous success in conducting feasibility studies for projects such as Equinox's Greenstone Gold Mine, the Moss Gold Project is positioned to receive a high-quality and detailed economic assessment. The PEA will prioritize internal rate of return (IRR) and minimize initial capital expenditures (Capex), which are critical for optimizing the project's financial viability. The expected completion of this assessment by Q1 2025 marks a significant milestone, setting the stage for further prefeasibility and feasibility studies.  

In parallel, the engagement of One-eighty Consulting Group Ltd. demonstrates Goldshore's commitment to a comprehensive regulatory strategy. Over the next three months, One-eighty will work closely with CSL Environmental & Geotechnical Ltd and the Company's community relations team to diagnose critical factors for an efficient permitting process.

This collaboration aims to minimize regulatory risks and build strong community support, enhancing the project's ability to navigate the environmental assessment process smoothly.

Ownership and Share Structure

The company provided a breakdown of its ownership, where 38% of Goldshore is held by management and insiders. 

Institutions own approximately 15% of the company.

The rest is with retail investors. 

Goldshore also noted that 54% of the in-the-money warrants are held by management, insiders, and strategic partners, representing CA$4.94 million in potential funding. 

The company reports that there are around 261 million shares outstanding, while the company has a market cap of CA$64 million and trades in the 52-week period between CA$0.09 and CA$0.28.

Important Disclosures:

1. Goldshore Resources Inc. is a billboard sponsor of Streetwise Reports.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Goldshore Resources Inc.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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