Came across a company called $CADY that IPO’d in July and it caught my attention…… The company’s main property is the Kerr-Addison gold mine in Ontario. It was one of the biggest gold-producing mines in North America during the 1960s and produced more than 12 million ounces of gold over its history…… $CADY is now exploring around the mine for additional gold and also has a large land position in the Abitibi, one of the world’s major gold-producing regions. Another thing that stood out to me was the recent investment from $AEM invested $60M into $CADY and is expected to own roughly 11% of the company. The IPO also gave $CADY a strong cash position to put toward exploration and drilling. That’s important for a company at this stage since they have the capital to keep drilling and advancing the properties without immediately having to raise more money. Now let’s talk about the people behind it…… Pierre Lassonde, co-founder of $FNV, is Chairman of Cadillac. He has decades of experience in mining and gold and was a key part of building $FNV into one of the largest royalty companies in the world. Still a speculative play, but the properties, $AEM involvement and the people behind $CADY definitely caught my attention. I currently don’t own any shares, but it’s one I’ll be watching closely. $XAU Sources: https://finance.yahoo.com/markets/stocks/articles/aem-invests-c-60m-via-121300989.html https://www.cadillacmines.com/profile/pierre-lassonde/ https://ca.investing.com/news/stock-market-news/agnico-eagle-to-acquire-11-stake-in-cadillac-mines-for-c60m-93CH-4751925
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