Fury Gold Mines is one of the newest gold juniors in the sector after both Auryn Resources and Eastmain combined in Q3.
The new company has a global gold resource of 3.58 million ounces at very high-grades, and has 80,000 meters of drilling planned on its properties.
While Fury looks cheap based on its resources, it’s worth noting that this resource is split across 3 projects that the market hasn’t assigned much value for in the past.Therefore, while I think there’s long-term upside if the company can execute, I think there are much better ways to play the sector.It’s been a tough few months for the Gold Juniors Index ( GDXJ ) as many names have slid more than 40% from their highs, like Spanish Mountain Gold ( OTCPK:SPAZF ) and Freegold Ventures ( OTCPK:FGOVF ), and few names have been able to buck the trend. Fury Gold Mines ( FURY […]
November 17, 2020 (updated November 17, 2020) Published by StockMan