I sent this update to my paid readers this morning. It includes details about a current holding in both my GP10X and GPIV portfolios.
I’m including the details in today’s issue of Golden Opportunity. Consider it a “freebie” for following my work – but it’s really just the tip of the iceberg.
If you’re looking for the full story, you should take a look at my recent GPIV investment brief which details my full outlook for gold stocks.
From the shores of Lake Guatavita, the source of legend of El Dorado, to the rolling hills of Quinchia, I (Garrett) visited beautiful Colombia last week. 10X holding Tiger Gold (OTC: TGRGF) invited me down to visit their Quinchia Project located 91 kilometers north of Pereira. Pereira is a small city with 480K population located 307 kilometers from Bogota. I flew into Bogota, a large city with 8 million people (and horrible traffic), last Sunday. I spent the night, and took a short 45 minute flight to Pereira the next day, and drove to the project with the company.
Quinchia project holds a measured and indicated resource of 0.51 mil Gold oz at 2.62 g/t average grade at Miraflores, and 1.57 mil oz at 0.47 g/t average grade at Tesorito. Tiger already released a Preliminary Economic Assessment late last year that shows average 139K Gold oz production at $1,387/oz AISC from 7.5K t/d mill for $480 mil capex. At $5,000/oz Gold the Quinchia deposit is worth a strong $1,477 mil NAV with 43% IRR. Tiger’s stock only trades for a $60 mil market cap. GP is attracted by the significant value opportunity.
As you know GP loves high grade projects. Miraflores at 2.62 g/t is attractive, but only holds 0.51 mil oz. Tesorito holds more oz, but 0.47 g/t grade is marginal. Both Miraflores and Tesorito are located high up in the hills. Tiger placed the planned mill and dry stack tailings near the deposits. GP believes the mill and tailings facility are better located down low in the valley protected by natural bowl formations near their Ceibal deposit.
Tiger’s Ceibal deposit has 6.5Km of historical drilling with one hole of 586 meters of 0.51 g/t average grade from surface, as well as other wider intercepts. Tiger increased Ceibal drilling to 5Km in 2026 from planned 1Km due to strong potential. Ceibal lies further down in the valley and is not included in the current Quinchia resource. Tiger is releasing drill results from Ceibal soon, and GP sees the potential to boost the scope of Quinchia project. GP sees the project eventually shifting the planned mill and tailings near Ceibal lower down in the hills.
Management envisions a large-scale 20K to 40K t/d bulk tonnage operation. GP sees a massive disruption to the local community. GP believes a smaller scale 7K t/d Mill works better, but the average half gram grades support bulk tonnage. Either way, Tiger holds many prospective targets that offer opportunity. GP believes the project will eventually shift from current plans at Tesorito to higher grade discoveries.
But even with the lower grades currently in the lineup, Tiger presents a highly attractive value prospect – buying ~$1.4 billion worth of future gold production for just $60 million today.
See below for a couple videos with Tiger Gold’s CEO Robert Vallis as well as one with Head Geologist Cesear Garcia. The videos include drone shots that highlight Colombia’s natural beauty as well as illustrate Quinchia project’s strong prospectivity.
Robert Vallis, CEO Tiger Gold (on the right), and me
Caesar Garcia, Head Geologist Tiger Gold, and me
Best,
Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio
P.S.
If you want the full details on my Tiger Gold research – you can check out a special offer I’ve put together for my GPIV service.
