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This is one of the most interesting opportunities I’ve seen, a $4.6 million market cap company that owns a 150 million oz silver deposit in a safe jurisdiction. The company that I’m refering to is Bald Eagle Gold Mines that now owns the Hercules deposit in Idaho USA. They purchased it on August 10 this year (see press release). There was another company that was looking to buy it, Lido Minerals (see press release) and the largest shareholder in Lido Minerals (called Highlander Silver Corp today) is mining legend Richard Warke, but they did not manage to get it.

The project is known, but how large it is still remains a secret. I found some very interesting data, just by chance, when looking at Hycroft Minings investor presentation (source). Below is an image from the presentation comparing silver deposits, in the middle you can see a bar for Hercules and owner is Bald Eagle. The bar shows that the project contain about 150 moz silver, that is huge:

This is the only place I’ve found this information. I can’t verify it, but if Hycroft is using it I believe it’s from some trustworthy source. The market does not seem to know about it, because if it did the market capitalization would not be $5 million, peers with these kinds of resources trade much much higer. 150 moz deposits in safe jurisdictions are very rare.

Following is the only data that has been provided by Bald Eagle: Historic drill results at Hercules shown in this press release indicate that there is a lot of silver there:

These are very good intercepts and justify much higher market capitalization in my opinion. Some of them begins at surface, similar grades and lengths that Arizona Mining drilled at the Hermosa Deposit before South32 bought it for C$1.8 billion. No wonder Richard Warke was interested in acquiring it, he was the president at Arizona Mining. Bald Eagle will now focus fully on developing this deposit after recently selling their only other project. They will have a lot of data to work with. Mr. Raymond Harari , President and Director of the Company said the following regarding Hercules:

We are actively analyzing all existing data with the intention of implementing an exploration program to modernize the historic results generated by over 300 drill holes.

After selling their other project they now have over $1.27 Million in cash that will be used to develop Hercules.