Summary
Name: Cartier Resources Inc.
Tickers: 🇨🇦 ECR 🇺🇸 ECRFF 🇩🇪 6CA
Commodity: Gold
Jurisdiction: Canada
Stage: Exploration
Market Cap: $26M CAD
About
Looking for gold stocks to watch in 2024? Cartier Resources’ CEO, Philippe Cloutier says this gold stock is worth a look.
Cartier Resources Inc. was founded in 2006 and is a Val-d’Or based exploration company. The Company’s 7 projects are all located in Quebec, which has consistently ranked as one of the world’s best mining jurisdictions. Cartier is currently advancing the development of its flagship Chimo Mine Project and actively exploring its other projects. The Company has a cash position exceeding $4.5 M and a significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.Its flagship project is a PEA-stage asset with a $388M NPV, a 10-year mine life, and an almost 21% IRR.To potentially build a mine, it will cost them $341M in CAPEX. Cartier has invested over 20 million dollars in this asset, and has drilled over 80,000 meters so far. However, Cartier is currently starting another 25,000m drill program, that will cost roughly $4M, to test the its thesis and see if they can find more gold next to and around the historic Chimo Mine. Philippe told me he believes there is potential for up to 12M ounces of gold in that camp.
