company overview
Stuhini Exploration Ltd is a well-structured mineral exploration company managed by a team with a track record of entrepreneurial success in both the mineral exploration sector and the business sector. Stuhini is focused in Western North America: The flagship Ruby Creek Project and the Big Ledge project in British Columbia; the Que Project (option to earn a 100% interest) in the Yukon; the South Thompson Nickel project in Manitoba; and 4 projects in Arizona.
The Company’s flagship Ruby Creek Project (100% owned subject to 1% NSR) is road accessible and located 14km east of Atlin, BC in the heart of the Atlin Gold Camp. In addition to being prospective for both gold and silver, the Project contains the highly advanced Ruby Creek Molybdenum Deposit which is a rare pure-play Climax style molybdenum (“Mo”) deposit. During the last base metals cycle, the former operator, advanced the project through feasibility, permitting and funding into mine construction which was derailed as a result of the 2008 financial crisis and the ensuing collapse in the price of Mo.
Mine Development Associates of Nevada updated the mineral resource estimate in March 2022 and using a 0.02% molybdenum cut-off, reported a pit constrained @ $15US/lb resource of 432,991,000 lbs measured and indicated at grade of 0.053% Mo plus an inferred resource of 43,650,000 lbs at a grade of 0.047% Mo. (Stuhini Exploration Technical Report dated April 25th, 2022)
In addition to the advancement of the Mo project, the Company has also identified 4 high-priority silver targets within the Ruby Creek tenures where multiple high-grade silver surface showings have been identified. The most notable of these targets is referred to as Silver Surprise, where numerous high-grade surface samples have been identified with 4 samples assaying in excess of 10,000 grams/tonne silver (Company News Release, April 6, 2021).
Both Company co-founders have significant share positions, and insiders control 39.6% of the shares outstanding with Eric Sprott as a key insider. Sprott Asset Management is an important investor not part of the insider group. The Company maintains low General and Administrative Costs as it believes funds raised need to be invested in project advancement or acquisition. The Company incurs no office rents, and management salaries are amongst the lowest in the sector.
Management believes that due to the Company’s ability to: identify quality high-potential projects when they are out of favour; obtain flexible option deals on these projects; and utilize its in-house technical team to advance these projects in a very nimble and cost-effective manner, Stuhini Exploration offers investors exceptional leverage to base and precious metals sectors.
