Canadian Critical Minerals Inc. (RIINF)

[ThSeeker]

Jemini Capital - Initiates coverage with BUY

HIGHLIGHTS
Braveheart Resources Inc. (“company”, “BHT”) is focused on bringing its
100% owned Bull River copper-gold-silver mine in B.C. back into production.
The company is also in the process of acquiring another historic producer
(copper-nickel), named the Thierry mine, in Ontario.
? Thierry is a large CAPEX–high NPV project, while Bull River is a low
CAPEX–high IRR project.
? Bull River can be advanced to production for a CAPEX of just $6.5M. Due to
historic production, there is significant infrastructure in place. The company
is evaluating financing options, and applying for permits to potentially
commence production by mid-2021. Permitting still remains a key risk for
projects in B.C. If successful, we do not believe they will have any challenges
raising capital and advancing the project to production. The project’s highgrade
and low CAPEX offer attractive economics. A resource estimate
completed in 2018 showed 88 million pounds (“Mlbs) copper equivalent
(1.81% grade) in the indicated category.