Puma Exploration (TSXV: PUMA) - Kinross Gold Bets Big on Puma's Williams Brook Gold Project

Interview with Marcel Robillard, President & CEO of Puma Exploration Inc.

Our previous interview: https://www.cruxinvestor.com/posts/puma-exploration-tsxvpuma-the-next-major-high-grade-gold-discovery-in-new-brunswick-5142

Recording date: 26th November 2024

Puma Exploration, a junior gold explorer, has made significant progress at its Williams Brook project in New Brunswick, Canada by securing major gold producer Kinross Gold as a partner. In October 2024, Puma signed an option agreement allowing Kinross to earn up to a 65% stake in Williams Brook by spending $16.5 million on exploration over 5 years, with a firm $2 million commitment in year 1 including 5,000 meters of drilling.

Puma CEO Marcel Robillard sees Kinross' involvement as a strong validation of the project's potential, stating, "They are really believers of Williams Brook holding some nice decent ounces." With $12 million spent by Puma to date and encouraging drill results, Robillard believes they've just "hit the tip of the iceberg."

Under the deal terms, Puma remains project operator, directing the exploration work while leveraging Kinross' funding and expertise. Puma receives a 10-15% management fee on the exploration spending, helping to minimize dilution for shareholders.

Puma has also acquired the nearby McKenzie gold project, covering 30,000 hectares of prospective ground, to explore in parallel with Williams Brook. Field work at McKenzie will begin in spring 2025, alongside a Kinross-funded 5,000m drill program at Williams Brook, with drilling at McKenzie slated for the fall.

The investment thesis for Puma includes the significant discovery potential in the underexplored jurisdiction, a de-risked flagship project with a major partner, a fully funded drill program with potential catalysts, a second 100%-owned project for additional upside, and an experienced management team with a track record of success.

With a strong gold price environment supporting exploration and discovery, Puma is well positioned for growth with good working capital and $2 million of committed spending from Kinross in 2025. At a market capitalization of just over C$12 million, Puma offers significant upside potential as it advances both Williams Brook and McKenzie in the coming year.
 
View Puma Exploration's company profile: https://www.cruxinvestor.com/companies/puma-exploration-inc

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