Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>SPA announced a 9,000-10,000m drill program at its Spanish Mountain Gold Project, targeting high-grade extensions in multiple zones.</li>
<li>The program follows 2024 and 2025 drilling that outlined growth potential at the Main, Phoenix, K-zone, A12, and OT targets</li>
<li>Drilling supports advancement toward a 2027 construction decision, building on a PEA with $1.03B NPV5% and 18% IRR at US$2,450/oz.</li>
</ul>


SPA announced a 9,000-10,000m drill program at its Spanish Mountain Gold Project, targeting high-grade extensions in multiple zones.
The program follows 2024 and 2025 drilling that outlined growth potential at the Main, Phoenix, K-zone, A12, and OT targets
Drilling supports advancement toward a 2027 construction decision, building on a PEA with $1.03B NPV5% and 18% IRR at US$2,450/oz.


SPA: Announces 9,000-10,000m Drill Program

<ul>
<li>Spanish Mountain is the 100% owner of the Spanish Mountain Gold Project, which hosts a 4.2Moz resource (M&amp;I) and recently published a robust PEA outlining a 24.5-year mine life.</li>
<li>With a base case NPV5% of $1.0B and 98% of mine tonnage in the M&amp;I category, the project is rapidly advancing toward a construction decision.</li>
<li>Management and directors own 18%, aligning interests with investors, while Eric Sprott and Ian Watson own 11% and 6%, respectively.</li>
</ul>


Spanish Mountain is the 100% owner of the Spanish Mountain Gold Project, which hosts a 4.2Moz resource (M&amp;I) and recently published a robust PEA outlining a 24.5-year mine life.
With a base case NPV5% of $1.0B and 98% of mine tonnage in the M&amp;I category, the project is rapidly advancing toward a construction decision.
Management and directors own 18%, aligning interests with investors, while Eric Sprott and Ian Watson own 11% and 6%, respectively.


Spanish Mountain Gold: Major Gold Project in BC; Accelerating to Production

Canada

Spanish Mountain Gold Ltd. is a mineral exploration and production company. The Company is developing the Spanish Mountain Gold Project in south-central British Columbia.

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Spanish Mountain Gold (SPA CN)

SPA: Announces 9,000-10,000m Drill Program

SPA announced a 9,000-10,000m drill program at its Spanish Mountain Gold Project, targeting high-grade extensions in multiple zones.

Atrium Research

Spanish Mountain Gold: Major Gold Project in BC; Accelerating to Production

Spanish Mountain is the 100% owner of the Spanish Mountain Gold Project, which hosts a 4.2Moz resource (M&I) and recently published a robust PEA...

Atrium Research

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52-week Range

Market Cap (USDm)

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