Recently listed Kootenay Resources aka KTRI announced the the definitive signing of a JV agreement with Rokmaster Resources on three properties located in the Chilcotin in BC. Initially, RKR can earn 60% over 4 years by meeting exploration requirements and issuing shares to KTRI. After that, RKR will have the opportunity to gain 100% ownership by issuing more shares and granting KTRI NSRs on the properties.
Kodiak Exploration aka KDK announced the start of exploration on their MPD Cu/Au prospect in southern BC. They are planning a 10km drill programme on 6 targets developed by their geologists using AI. There will also be more geophysics and soil geochemistry as well as surface exploration involving mapping and sampling.
As evidenced by the share price, KDK has not really been able to gain traction in the market following the initial discovery hole that put MPD on the map. Maybe this will finally be the year...
Fwiw, in the wake of attending Oceanagold aka OGC's Investor Day, Scotia issued a new research report. Highlighting a strong internal growth pipeline and the approaching Free Cash Flow inflection point -- OGC should produce more FCF in H2 2024 than they did in 2022 and 2023 combined -- plus the recently completed Philippine IPO further strengthening the balance sheet, they proclaim OGC to be one of their top mid-tier PM picks. Scotia maintained OGC at Sector Outperform but increased their target to $4.25.
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