1911 Gold Corporation
TSXV:AUMB · Gold · Manitoba, Canada
Latest Verdict
Apr 15, 20261911 Gold Corporation (TSXV: AUMB) is a pre-production junior gold developer holding the fully permitted True North mine and mill complex in Manitoba's Archean Rice Lake Greenstone Belt. The February 2026 PEA (the current study level) demonstrates robust economics at US$3,000/oz gold — after-tax NPV(5%) of C$391M, 105% IRR — with test mining targeted for H2 2026 and production restart H1 2027. The company scored 17/25 (WATCH).
Geologically, the resource is entirely in Indicated and Inferred categories (499Koz @ 4.41 g/t Indicated + 644Koz @ 3.65 g/t Inferred, NI 43-101, PEA study level only). No Mineral Reserves have been declared. Underground infill drilling is actively upgrading Inferred to Indicated and is expected to support a resource update ahead of a stated PFS. At the US$3,000 PEA base case, the stock trades modestly above the 50–60% risk-adjusted PEA NAV of C$0.50–0.63/share at C$0.86. At spot gold (~US$4,800/oz), the discounted NAV approaches C$1.50+/share. Eric Sprott's 17.2% stake and a US$30M Auramet credit facility at 12% with offtake obligation are the key structural features.
The key upgrade triggers from WATCH to BUY: (1) Mineral Reserve declaration and/or PFS initiation; (2) successful test mining results in H2 2026 confirming grade control and stope productivity; or (3) a sustained pullback in the share price closer to C$0.60. Monitor assay releases from the active 3-rig underground program through Q2 2026.
- Exchange / Ticker
- TSXV:AUMB
- Jurisdiction
- Manitoba, Canada
- Primary Commodity
- Gold
- Report Date
- Apr 15, 2026
- Price at Report
- C$1.01
- About
- 1911 Gold Corporation is a junior gold explorer and developer focused on its 61,647-hectare dominant land position in the Rice Lake greenstone belt of Manitoba, an underexplored extension of the Red …
- Website
- https://www.1911gold.com
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