Liberty Gold Stock Price, News & Analysis

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) reported Q3 2024 financial results, highlighting key developments. The company completed the sale of TV Tower project in Turkey for staged payments totaling $8.5 million, with $3.7 million received in October 2024. At Black Pine project in Idaho, the company published a preliminary feasibility study, received the Hardrock Prospector Permit expanding the project area by 10% to 69.3 km², and commenced a 20,000-metre drill exploration program. Financial results show a Q3 2024 loss of $5.75 million ($0.01 per share), with cash and short-term investments of $9.28 million as of September 30, 2024.

Liberty Gold Corp. has achieved three significant milestones in the permitting process for its Black Pine Oxide Gold project in Idaho. The company has executed a Memorandum of Understanding and a Cost Recovery Agreement with the U.S. Forest Service, and received approval for a third-party contractor for the NEPA process from both USFS and BLM. The Sawtooth National Forest will prepare an Environmental Impact Statement for the Black Pine Mine Project. These developments represent important steps toward project feasibility and potential construction, while ensuring compliance with environmental standards and stakeholder engagement.

Liberty Gold has released its 2023 Environmental, Social and Governance (ESG) disclosure update report, demonstrating the company's ongoing commitment to ESG transparency. The report updates quantitative metrics and qualitative disclosures for office and site operations from January to December 2023, complementing the company's 2022 ESG report. Aligned with Sustainability Accounting Standards Board (SASB) framework, the report reflects Liberty Gold's evolution as a mine development company and its dedication to continuous improvement in sustainability reporting standards.

Liberty Gold announced the results of its Preliminary Feasibility Study (PFS) for the Black Pine Oxide Gold Project in Idaho. The study indicates a 17-year mine life with a 32% after-tax internal rate of return (IRR) and a $552 million after-tax net present value (NPV) at a base gold price of $2,000/oz. The project is an open pit, run-of-mine heap leach operation requiring an initial capital expenditure of $327 million.

Average annual production is expected to be 183,000 ounces of gold in the first five years and 135,000 ounces over the life of the mine. The all-in sustaining cost (AISC) is projected at $1,205/oz for the first five years and $1,380/oz over the life of the mine. The project aims to produce over 2 million ounces of gold, with significant opportunities for resource growth and optimization ahead of a full feasibility study.

Key metrics include a 3.3-year payback period, a 70.4% average gold recovery rate, and a total capital cost of $546 million. The project is subject to a 0.5% net smelter royalty and has a low strip ratio of 1.3:1. Liberty Gold plans to advance the project towards feasibility and permitting in 2025.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) has closed the sale of its interest in the TV Tower copper gold project in Türkiye, receiving US$3.7 million at closing. This transaction completes the monetization of all Liberty Gold's Turkish assets and eliminates an annual funding draw of approximately one million dollars. The company will receive additional payments of US$2.2 million on October 4, 2025, and US$2.6 million on October 4, 2026.

CEO Cal Everett stated that this sale allows Liberty Gold to focus on advancing its projects in the Great Basin. The company is also nearing completion of a Pre-Feasibility study for the Black Pine Oxide Gold Project in Idaho. Importantly, there is no share dilution associated with this asset sale.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) has received a Hardrock Prospector Permit (HPP) for four areas adjacent to its Black Pine Oxide Gold Project in Idaho. This permit adds 7.1 square kilometres of exploration ground, increasing the project area by 10% to a total of 69.3 km2. The newly permitted areas are administered by the US Government under the Weeks Act and are not eligible for unpatented mineral claims.

The company has already received approval to explore 3.4 km2 of these new HPP areas through a recent amendment to the Black Pine Plan of Operations. Initial drilling is expected to commence in Q4 2024. These permits will allow Liberty Gold to explore the southern extension area of Black Pine, which will be the focus of exploration in the coming years.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) has identified a high-grade antimony system at the Antimony Ridge prospect, an extension of the Goldstrike Oxide Gold deposit in Southwest Utah. The company has staked approximately 3.2 square kilometers of new ground to include all potential areas of this mineralized system. Surface sampling revealed antimony grades up to 2.2% and gold grades up to 0.85 grams per tonne. The mineralization occurs in a jasperoid breccia with a sampled strike length of 450 meters and an apparent thickness of up to 12 meters. The discovery was prompted by the recent recognition of antimony as a critical mineral in the USA. Historic records indicate small-scale production of 10 tons of antimony ore containing 10% Sb in the 1970s from the area.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) has received government approval for the sale of its interest in the TV Tower copper gold project in Türkiye. The transaction is expected to close in September, completing the company's monetization of all Turkish assets. Liberty Gold's share of the US$11.5 million gross proceeds has increased to US$8.5 million due to an increase in its project interest to 73.7%. The payment will be made in three stages: US$3.7 million at closing, US$2.2 million after one year, and US$2.6 million after two years. This sale positions Liberty Gold as a pure Great Basin gold company focused on advancing two Carlin-style gold deposits.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) has reported its Q2 2024 financial and operating results. Key highlights include:

1. A non-brokered private placement upsized to C$12.5 million, selling 35,715,362 units at C$0.35 per unit.

2. Signing of a definitive agreement to sell the TV Tower Project in Türkiye for $11.5 million, with Liberty Gold's 73.7% share being $8.5 million.

3. Appointment of Matthew Zietlow as Director of Regulatory Affairs and Sustainability.

4. Commencement of a 20,000-metre drill program at the Black Pine project.

5. Progress on the pre-feasibility study for Black Pine.

6. Approval of the fourth plan of operations amendment, increasing the permitted exploration area by 51% to 37.3 km².

7. Financial results show a loss of $3,683,000 for Q2 2024, compared to $5,271,000 in Q2 2023.