Headwater Gold – Company Introduction to 10 Exploration Projects In The Western USA, Including 4 Optioned To Newcrest
Caleb Stroup, President & CEO of Headwater Gold (CSE: HWG) (OTCQB: HWAUF), joins us for a comprehensive overview and introduction to the Company, the 10 projects, including 4 optioned to Newcrest Mining (TSX: NCM) (NCMGY), and what the exploring strategy is moving forward. We start off getting Caleb to outline how and why the Company acquired so many properties in Nevada, Idaho, and Oregon, and what the larger company strategy is for a hybrid model of project generation and grassroots exploration.
Next we focus on the big news that Newcrest has become a 9.9% strategic stakeholder in the company and has set up an option agreement on 4 of the 10 properties, where they can earn up to 75% by spending $145 million and completing Pre-Feasibility Studies on these properties by their 6th year anniversary. Caleb walks us through some of the nuances of this agreement and what it means more near-term for the Spring Peak Project, Agate Point Project, Mahogany Project, and Midas North Project. Headwater Gold will benefit from the capital coming in from Newcrest as the project operators, has retained a royalty on the projects, as another value driver. The company is in the process of wrapping up a 4,000 meter drill program at Spring Peak, and has a 2,000 meter drill program planned to start at Agate Point.
We then turned our attention to the other 6 projects the Company holds, and how those will play into their exploration strategy in 2023 and moving forward. Caleb outlines the company financial situation, how the 10% management fee and option payments from Newcrest will assist the company, and then he breaks down the pedigree of their team, key stakeholders, and share structure.