Red Eagle Mining Corp.

Red Eagle Mining is a well-financed gold exploration and development corporation with an experienced mine-development team. Management is focused on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia, a jurisdiction with prolific historic production but until recently limited modern exploration. Red Eagle Mining is developing the 100 square kilometre historic Santa Rosa Gold Project located in the Antioquia Batholith. Construction is underway at the fully permitted and fully financed San Ramon Gold Mine with production expected to commence during the second half of 2016.

Expert Comments:

Ivan Lo, The Equedia Weekly Letter (5/1/16)
"Red Eagle Mining Corp.'s San Ramon gold deposit offers a great IRR, a very low preproduction capital requirement and an extremely low all-in sustaining cost. . .all-in costs [are] projected to be just $670/oz. . .the company is now on track to make its first gold pour in September. . .combine this with the first real exploration drilling from Red Eagle later this year and we could witness some very strong market moving events. . .the company is fully funded for production and exploration, it controls the high-grade Vetas asset and it's extremely undervalued when compared to its peers."

I looked at Red Eagle Mining Corp.'s project a couple of years ago while I was in Colombia. We decided to point it out because it's one of the first major projects that has been able to actually get through the permitting phase in Colombia. There are a couple of reasons for this. One is that Red Eagle has done a good job on the community side and has its social license. It has communicated well with all of the stakeholders in the region. It also doesn't have the artisanal mining problems that some of the other players in the area do, at least not to the same extent, which has made the permitting process a little easier. In addition, Red Eagle's project is an underground operation; it's not looking at constructing a large-scale open pit. Red Eagle now has everything in hand, including project finance, which I think is worthy of quite a bit of attention. It also is a pretty attractive deposit, a little bit over 5 grams/tonne (5 g/t) and a little over 400,000 ounces gold. There is quite a bit of exploration potential there as the deposit remains open down-dip and to the east, as well as offers a few satellite targets. We thought Red Eagle was one to definitely keep our eyes on because of how well it has been advanced, how it is fully funded and how it has exploration potential. read more >

Barry Allan, Mackie Research Capital (3/7/16)
"Red Eagle Mining Corp. is a Vancouver-based exploration and development company that owns 100% of its flagship Santa Rosa gold project in Colombia. The company recently commenced construction at the fully financed and permitted Santa Rosa project, with initial production expected in H2/16. . .a 2014 feasibility study highlighted average annual production of 70 Koz at cash costs of $596/oz, leading to an after-tax internal rate of return of 32% using $1,100/oz Au and 53% using $1,300/oz Au. . .the mill is being designed with the ability to expand throughput to 2,000 tpd (from 1,000 tpd) with relative ease."

Thibaut Lepouttre, Caesars Report (1/21/16)
"Red Eagle Mining Corp. announced it has received 17.55M new shares of CB Gold. . .everything remains pretty much on schedule to allow Red Eagle to make the transition from a developer to a gold producer by Q3/15. If the Colombian Peso remains this weak, the company might have some positive surprises for the market."

Bob Moriarty, 321 Gold (12/23/15)
"Red Eagle Mining Corp.'s Santa Rosa mine will open in the second half of 2016 with cash costs of under $700/oz and an IRR of 53%. . .the Santa Rosa district is going to be a lot bigger than [management] are suggesting. There is a lot of gold there. They will build the mine and mill first and then expand like crazy. With a market cap of about $45M, the company has a lot of potential and will be one of the leaders in the new bull phase. . .you are getting an excellent story with brilliant management."

Red Eagle Mining Corp. is one of my top five picks for 2016. There will probably be an amicable solution to the CB Gold takeover in the next 12–24 months. Red Eagle will likely have to acquire the remaining shares of CB Gold in a private transaction with Batero. . .the impact of the weak Colombian peso on Red Eagle will be huge. The U.S. dollar versus the Colombian peso exchange rate is about 3,150:1. Red Eagle based its feasibility study on an exchange rate of 1,900:1, so it gets about 60–65% more pesos for each dollar. Some 30 or 40% of the company's operating expenses will be paid for in Colombian pesos and this means Red Eagle could shave off about 50% of those expenses, which could reduce the all-in sustaining costs by at least $100/oz. That would be an impact of $4–5M per year based on the 40–45 Koz per year production rate. My hope is that the company will try to lock in at least a part of its currency exposure because it's prudent to hedge against the Colombian peso while it can get value." read more >

More Expert Comments

Experts Following This Company

Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
Jeb Handwerger, Author Gold Stock Trades
Ryan Hanley – Mackie Research Capital
Paul Harris – Colombia Gold Letter, Trident Gold Corp
Thibaut Lepouttre, Editor Caesars Report
Ivan Lo The Equedia Weekly Letter
Bob Moriarty, Author 321 Energy , 321 Gold

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
Gold production in Colombia in 2016
Three years from discovery hole to Feasbility Study
53% IRR
catalyst Calendar
Production to Commence