Erik Wetterling – Value Proposition From A Recent Site Visit To First Nordic Metals Projects In Sweden
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to review the value proposition and key takeaways from the recent site visit that he took to see the First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF) projects along the Gold Line Belt of Sweden.
We start off getting some of the nuances around using the collective wisdom of other institutional site visit attendees and various members of the First Nordic team on-site to get a better understanding of the various projects, key targets identified, exploration work underway, and what criteria other investors and analysts were weighting more heavily.
The conversation then turned to the underlying value in the 2.4 million ounces of gold defined so far in the Barsele Project, in a JV with Agnico Eagle. Erik outlines that some member of Agnico Eagle were present at the site visit and outlined 7 drill targets they’d be going after for this year’s exploration program.
We also discussed the amount of drilling focus that the Aida target has received at the Paubäcken Project, with many assays pending release from the lab, and some showing visible gold. When Erik was there the team finished up drill hole #38. The exploration team at First Nordic has also done a lot of targeting work for upcoming drilling at the Harpsund target, and more targeting underway at the Brokojan target.
The Storjuktan Project is also seeing drilling get underway at the Nippas target, which has had a lot of targeting work completed thus far. Additionally, there are several other regional targets at Storjuktan that different geologists and analysts were animated by, particularly Bråna to the south, due to mineralization that is outcropping at surface.
We wrap up discussing the financial health of the company to continue the ongoing 25,000 meter drill program across the Gold Line Belt.
* In full disclosure, some companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.
Click here to follow Erik’s analysis over at The Hedgeless Horseman website
In one sense it is nice to see these banks forced to raise their gold targets after shunning this space for so long, but a $3,600 target by 2026 (when gold was just at $3,500 a few months back) is not really factoring in much more ‘Economic uncertainties and geopolitical tensions’ than we already have.
I put very little stock in what these banks or most analysts put out as price targets anyway, as they are mostly trend followers and have historically be terrible at predicting where prices would go. None of them were predicting $3,500 gold from last year looking to this this year and their models were all in the $2,000s for 2025, until gold surged up over $3,000 this year and they were forced to raise their models higher.
‘Economic uncertainties and geopolitical tensions’ will drive gold to $3,600/oz by 2026 – Wells Fargo
Wells Fargo is out of touch with reality, Gold will go much higher, and Wells Fargo should get back in the stagecoach business. GIDDY-UP!! LOL! DT 🤣🐱👓🐱🚀😉