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Golden Dawn Minerals Inc (TSXV:GOM)

Summary

Golden Dawn Minerals Inc. (TSXV:GOM)(FRANKFURT:3G8B) is a TSX Venture listed mineral exploration company based in Vancouver, Canada. The company is engaged in the acquisition, exploration and development of mineral resource properties in Canada.

Market Overview

$0.095 (-5.000%)
Vol 108,500.00
10 Days Avg Vol 0.00
3 Mo Avg Vol 114,606.28
52 Wk Lo/Hi $0.065 - $0.630
YTD Price Gain % -82.41%
12 Wks Moving Avg 0.193611
200 Days Moving Avg 0.322275
Market Cap 6,823,978

Updated: Market Close, 09/25/2018

Company Background

Golden Dawn is planning to restart 3 underground precious metals mines and its processing mill facility located in the prolific Greenwood mining district of southern British Columbia. The first mine is being re-started with dewatering operations now complete and mine planning underway.

Highlights

  • Recent acquisition of 3 past producing mines and processing facility
  • 2 of the 3 operating mines closed due to 2008 economic downturn
  • Golden Dawn acquires assets at pennies on the dollar
  • With low capex and improved metal prices new 2017 PEA shows very positive economics to restart mines and mill
  • Company acquires large land package adjacent to mines (Phoenix property)
  • GOM is now 2nd largest landholder in Greenwood mining camp next to Kinross Gold
  • Kinross Gold is the 5th largest gold producer in the world
  • Phoenix property contains +30 past producing mines including the major Phoenix mine which produced 500 million lbs copper and 1 million ozs gold. The mine closed in 1978
  • Company plans to utilize new technology and fly deep penetration airborne geophysics to look for possible deep seated feeder systems to the numerous historic mines.
  • A Near Term Gold Producer:
    • With low capex and improved metal prices 2017 PEA shows very positive economics to restart mines and mill
    • Permits now in place to re-start Lexington Mine and Greenwood Mill

Share Structure

As of June 5, 2018
Shares Issued 69,952,317
Warrants 26,211,261 @ avg. $0.60
Options 5,637,500 @ avg. $0.47
Fully Diluted 101,801,078

Other Information

Projects:

Lexington Mine

  • 2016: Golden Dawn (GOM) updates 43-101 technical resource report to confirm resources of Lexington & Golden Crown mines.
  • 2016: GOM acquires Lexington and Golden Crown mines and Greenwood processing mill.
  • June 2017: GOM files positive PEA for Lexington, Golden Crown mines and Greenwood mill.
  • June 2017: GOM receives mine permits for Lexington and Greenwood process plant operations. Permits allow for de-watering and material extraction of Lexington mine and operating of Greenwood mill to process material from Lexington mine.
  • 2018: de-watering of the Lexington mine is now complete.

Golden Crown Mine

The Company received permitting for a 10,000 meter drill program and started drilling on the Golden Crown with the goal of infilling and expanding upon the 2017 Mineral Resource Estimate.
  • Located 3 kilometers south of the Greenwood Process Plant
  • 1,070 meter long exploration drift developed to access the multi-vein system
  • 229 surface drill holes and 53 underground drill holes
  • 2017 Resource Estimate
  • 2017 Positive Preliminary Economic Assessment

May Mac Mine

Re-visiting the May Mac Precious & Base Metals Mine
  • Past producing mine located in the prolific Greenwood mining camp near Greenwood, British Columbia
  • 100% owned by Golden Dawn Minerals
  • Historic production from 1903 to 1983, is reported to be in the range of 4,228 tonnes (4,660 tons), averaging 5.35g/t Au (0.16 oz/ton), 227 g/t Ag (6.62 oz/ton).
  • Data for lead and zinc are incomplete for the range of years but historic information indicates 49,462 kg lead and 26,243 kg zinc were produced up to 1977, giving average calculated grades of 2.0% lead and 1.1% zinc. Production of 894 kg copper in 1983 was also reported.
  • Although in excess of ten veins have been located to date, almost all past development has been restricted to just two principal veins.
  • The property has been inactive since the mid 1980’s

Phoenix Property

In January 2017 Golden Dawn acquired the shares of Kettle River Resources Ltd. (KRR). The KRR assets include the Greenwood Area Properties (GAP), with mineral claims totaling 11,000 ha., covering 78 mineral showings, including over 30 historic metal mines including the large Phoenix mine which produced over 500 million pounds of copper and one million ounces of gold up to 1978.

Lone Star Mine

June 2, 2017 Golden Dawn Minerals Inc. announces the signing of a non-binding LOI to acquire a 100% interest in the Lone Star Property

Tam O’Shanter Property

Golden Dawn Minerals 100% owns the Tam O’Shanter PropertyThe Greenwood Mill The Greenwood Mill was purchased by Golden Dawn Minerals along with the Lexington and Golden Crown mines in September 2016 for a total cash consideration of CAD$2,930,000, CAD$450,000 for a reclamation and other bonds, issuance of 2,600,000 common shares, and 2,000,000 warrants of the Company and also $1.3 million in exploration or other work commitments within a 12 month period.

J & L Property

In December 2017 Golden Dawn signed an option agreement with Huakan International Mining Inc. granting it the right to earn a 100% interest in the J&L Property subject to the terms of the agreement.
  • Significant gold and silver resource - one of the largest undeveloped precious metal resource in the Province – and a lead-zinc resource:
  • AN UPDATED (2018) J&L MINERAL RESOURCE ESTIMATE STAYS AT 1.35 MILLION MEASURED AND INDICATED GOLD EQUIVALENT OUNCES AND 1.08 MILLION INFERRED GOLD EQUIVALENT OUNCES
  • 3,052 hectare mineral claims package
  • Underground Mining equipment fleet
  • Mine buildings: maintenance and workshops
  • 3 km of underground drift development
  • 40,887 m drilled (311 drill holes)
  • Easy access to paved highways and railways
  • Power source nearby (transmission from Revelstoke and Mica major Hydro Generation Facilities)
  • Rail siding and load-out facility in Revelstoke (100% owned)
  • Secure, safe mining-friendly jurisdiction: British Columbia, Canada
  • Good access and infrastructure, skilled labor, significant underground development
  • Good average gold grades (4-6 g/t gold)
  • Significant silver (50-60 g/t Ag) and lead-zinc grades (2-3% each)
  • Positive metallurgical testing (gold recovery >90%), can be further optimized
  • By-products (silver, lead, zinc) may cover much of mining costs
  • Rapid advancement to production is possible
“Blue-sky” potential: less than half of 3.3 km-long mineralized structural corridor explored by drilling, potential to increase to ~9 km; main mineralized zone is open downdip, with potential for parallel zones

Management Profiles

Wolf Wiese

President, CEO & Director

Mr. Wiese has been involved in the conception and implementation of local and international businesses for the past 30 years, as stock broker and bank owner in Germany. Mr. Wiese has spent the past 16 years in the Mining Exploration Business, primarily as a consultant and financier to public companies. He was the driving force behind Canadian Metals Explorations Ltd, now Hard Creek Nickel Ltd. from 1995 until 2004. During his tenure as the primary Financier/Consultant to the Company, Canadian Explorations Ltd. Discovered one of the largest Sulfide Nickel deposits in the World. Mr. Wiese has been involved with Golden Dawn Minerals Inc since the inception of the company in 2004.

Stefan Bender

Director of European Communications

Mr. Bender worked with Miningscout witch is a leading German-speaking information service for the resources sector, as Chief Editor from 2010 until the End of 2015. Miningscout has currently 70,000 unique visitors per month and belongs to one of the fastest- growing resource portals in the German-speaking region. Since 2013 he has represented a group of commodity experts on international resource conferences and project visits. He now has over 18 years of experience in the mining sector. Through his global network he is in consistent contact with natural resources experts, mining companies executives and industry opinion leaders.

Ralph Wintermantel

Director

Since January 2017 Ralph Wintermantel has been Co-CEO of WINKAP UG. For more than 20 years Mr. Wintermantel has been active in the financial markets. Starting as an editor and department head at a Munich-based financial magazine, Ralph Wintermantel moved on to various listed small and mid-cap companies in the years 2002 to 2007 to manage their communications, press, public and investor relations divisions. Since 2009 he has been the managing director of the media consulting agency VPC Group. This international company is operated from its head office in Frankfurt a/M. Germany, as well as from locations in Berlin, Hamburg and Mannheim. Their clients include global listed and non-listed companies, as well as organisations and associations. As well as consulting services, they also publish the independent financial magazines Derivate Magazine (www.derivate-magazin.de) and the Deutsche Bank Magazine X-press.

Mathew Ball, Ph.D, P.Geo.

COO & Chief Geologist

Dr. Ball is a geologist with over 30 years of worldwide experience including underground precious metals mine development programs. For 5 years he was President and COO at the Bralorne gold mine in B.C. Dr. Ball brings a wealth of practical experience and knowledge of lode and epithermal gold-silver, porphyry copper-gold and related skarn deposits, all of which occur in the Greenwood area.

Andrea Yuan, CPA, CGA

CFO

Ms. Andrea Yuan Chartered Professional Accountant (CPA)/Certified General Accountant (CGA) British Columbia and Certified Public Accountant (CPA) New Hampshire. Ms. Yuan obtained her Bachelor of Economics from Shanghai University of Finance and Economics in 1994. Ms. Yuan started as internal auditor then team head internal audit department at the Bank of China’s Shanghai Pudong branch China 1994 through to 1999. Ms. Yuan moved to Davidson and Company LLP, Chartered Accountants, in 2004 audit group. November 2006 until 2009, Ms. Yuan was audit manager at Davidson. From 2009 until October 2011, Ms. Yuan was audit principal at Davidson. Ms. Yuan is Chief Financial Officer or financial consultant for several public companies TSX Venture Exchange, Canadian Securities Exchange and OTC Markets.

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