Paradigm Capital’s Gold Analyst, Lauren McConnell writes in her initiating coverage report that “Founders is one of the best grassroots exploration plays we are aware of at this time.There are several compelling aspects that set it apart: high-grade open-pit potential; continuous assay results leading to steady news flow; well funded with $5.1 million in cash and $5.7 million of in-the-money warrants expiring in March 2025; and an exploration “toolbox” that is leading to discoveries.”
There are a number of points Ms. McConnell makes about the positive aspects of Founders’ project in Suriname, which led to her $4 price target. That target is about three times the current trading price of $1.40 as of this writing.
For example, she writes, “We believe it is on the cusp of a few potentially transformational changes, outlining several 0.5–1.0Moz deposits at a higher-than-average grade for the Guiana Shield (+3 g/t gold).”
The report goes in-to-depth on the opportunity highlighting the prolific Guiana Shield and neighbouring gold deposits such as Zijin Mining’s Rosebel Mine (13.7Moz) and Newmont’s Merian mine (7Moz), the high grade gold intercepts Founders has been reporting, the low cost drilling of ~C$250 to ~C$160 all in, and much more.