Compass Gold Stock Price, News & Analysis

Compass Gold Corp. (TSXV: CVB) has appointed Stephen Eddy to its Board of Directors as the company transitions from exploration to gold production in Mali. Eddy, a strategic financial executive with over 20 years of experience in the mining sector, previously served as Senior Vice President of Business Development at IAMGOLD.

During his tenure at IAMGOLD, Eddy led $900M in acquisitions and $2.4B in divestitures, including the $500M Niobec sale and a $195M strategic investment from Sumitomo. He is credited with the turnaround of the Côté Gold project in Ontario and brings expertise in capital markets transactions, risk management, and corporate development.

Compass Gold (TSXV: CVB) reported significant progress at its Massala Gold Project in Mali, marking key milestones in its Small Mine Strategy. The company has initiated bulk sample testing, processing approximately 100 tonnes of mineralized material with modest initial gold recoveries at the SMAT facility, located 5 km from the main Massala gold zone.

Two crucial developments include the successful processing of initial bulk samples with pending assay results, and the approval of the Environmental and Social Impacts Study by the Malian Inter-ministerial Committee. The latter approval paves the way for the issuance of a Small Mining Permit (SMP) for Massala.

The SMAT plant demonstrates efficient operation rates of 10-30 tonnes per hour. The company plans to process up to 1,000 tonnes of bulk sampling material to confirm gold grades and recoveries, with operations expected to improve as the rainy season ends.

Compass Gold Corp. (TSXV: CVB) announced that 93% of holders of convertible debentures due June 30, 2025, have agreed to convert their holdings into common shares. The conversion involves $1,335,500 in principal amount, resulting in the issuance of 11,086,111 common shares.

The company will also issue 1,077,132 additional common shares at $0.17 per share to settle $183,115 in accrued interest. The debenture funding enabled Compass to complete work on its Massala Small Mine project in Mali, with the company awaiting its Small Mining permit to commence gold production.

Compass Gold Corp. (TSXV: CVB) has announced plans to extend the expiry date of 7,298,668 common share purchase warrants from June 2, 2025, to December 31, 2025. The warrants, originally issued on June 3, 2022, as part of a private placement, maintain their exercise price of $0.30 per common share. CEO Larry Phillips attributed this extension to a two-year suspension of the Malian mining code, which has delayed planned activities. Of the total warrants, 1,233,334 are held by company insiders, constituting a related party transaction under MI 61-101. The company is utilizing exemptions from valuation and minority shareholder approval requirements, as the fair market value falls below 25% of market capitalization. The extension awaits final TSX Venture Exchange approval.

Compass Gold Corp. provided updates on its gold production plans at the Massala prospect in Mali. The company has completed an expanded environmental review process for its Small Mine permit application, which now includes provisions for a future wholly-owned processing facility. The SMAT production facility has completed its first successful production test, with bulk sampling of Massala ore expected to begin by end of May. Additionally, Compass has agreed to transfer its Badogo permit to Mina Sable SARL for over CDN$1.0 million, with payments structured as: $200,000 received initially, $480,000 due upon formal permit assignment, and $320,000 contingent on Small Mine operation commencement within two years. The company awaits final Small Mine Permit issuance from the Ministry of Mines after completing comprehensive environmental processes and stakeholder consultations.

Compass Gold (TSXV: CVB) is on track to commence gold production at the Massala prospect in Mali within the next 60 days. The company is finalizing its Small Mining Permit application, with environmental and social impact studies expected to be completed within 30 days.

Compass has established a co-production agreement with the nearby SMAT processing facility, allowing for immediate production once the permit is granted. The facility, located 2 km from the mine site, is being optimized to process up to 100 tonnes per hour.

Under Mali's Mining Code for Small Mines, the permit will allow for mining up to 200,000 tonnes annually and producing up to 160,000 ounces of gold over an initial four-year term. CEO Larry Phillips highlighted the opportunity to capitalize on record gold prices approaching US$3,000 per ounce while bringing economic benefits to Mali, the local community, and shareholders.

Compass Gold Corp (TSXV: CVB) has provided an update on its Massala gold production project in Mali. The company has completed a project viability study and is preparing for bulk sampling at the SMAT Mining Facility, which will be modified to process up to 30 tonnes per hour initially. The bulk sampling is planned for February 2025 to provide recovery data and optimize plant design.

The company is finalizing documentation for a Small Mine Permit Application, which includes a completed project viability study and mine closure plan. The Community Development Plan and Environmental Impact Study are expected to be completed in February. Subject to permit approval, commercial production is targeted for early Q2.

Compass has a toll-treating agreement with SMAT, with the facility located 2 km from the Massala mine site. The ultimate objective is to achieve a production capacity of 100 tonnes per hour. Under the Malian Mining Code for Small Mines, operations are to mining 200,000 tonnes per year and producing 160,000 ounces of gold over four years.

Compass Gold has completed its private placement offering, raising $610,500 through the issuance of 610.5 convertible debenture units at $1,000 per unit. Each unit includes a convertible debenture and 5,000 warrants exercisable at $0.18. The debentures mature on June 30, 2025, bearing 10% annual interest. The proceeds will fund the Tarabala Project in Mali, focusing on delineating mineralized zones and developing a small gold mining operation. The company has also secured a toll-treating agreement with SMAT for gold production at the Massala prospect, with facility updates expected in Q1 2025.

Compass Gold Corp (TSXV: CVB) announces a fully subscribed non-brokered private placement of 600 convertible debenture units at $1,000 per unit, totaling $600,000. Each unit includes a $1,000 convertible debenture and 5,000 warrants exercisable at $0.18. The debentures mature on June 30, 2025, with 10% annual interest and are convertible at $0.18 per share.

Proceeds will fund the Tarabala Project in Southern Mali, focusing on delineating mineralized zones and developing a small gold mining operation. The company has secured a toll-treating agreement with SMAT for processing ore at their Small Mining Facility, with installation of updated processing components expected in Q1 2025.