A Unique Gold Opportunity
Contributed Opinion

1. GoldCoast Resource Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship. In addition, GoldCoast Resource Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of GoldCoast Resource Corp.
3. Ron Struthers: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
4. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found  below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 
5.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Struthers Resource Stock Report Disclosures

All forecasts and recommendations are based on opinion. Markets change direction with consensus beliefs, which may change at any time and without notice. The author/publisher of this publication has taken every precaution to provide the most accurate information possible. The information & data were obtained from sources believed to be reliable, but because the information & data source are beyond the author's control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Because of the ever-changing nature of information & statistics the author/publisher strongly encourages the reader to communicate directly with the company and/or with their personal investment adviser to obtain up to date information. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise. Neither the information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. The author/publisher of this letter is not a qualified financial adviser & is not acting as such in this publication.

An area of gold exploration and production that many don't think of is dredging for gold in rivers and oceans. Many have been very successful with perhaps a couple of the best known below.

Debmarine, a JV with De Beers and the Namibia Government that operates 7 marine diamond recovery vessels off the coast of Namibia. They have over a 20-year track record operating in around 150 meters of water, and so far, only 3% of an estimated 80 million Carats have been mined. Demer Group currently has a valuation of about US$4.2 billion

Canadian-listed Mineros S.A. (MSA:TSX, MNSAF:OTCQX)  with producing assets in Colombia and Nicaragua. Their Nechi Alluvial operation on the Nechi River, Colombia, has estimated 9 million ounces of gold produced in history, with 3.1 million ounces between 1974 and 2023. They are currently producing about 90,000 ounces per year. With the Colombia and Nicaragua mines, they have a market cap of around CA$1.9 billion.

Here are four dredging producers, above I just highlighted DEME Group NV (DEME:BR) and Mineros:

I think we are fortunate to now be able to get in at the ground floor of a new gold dredging company that just went public. I am highlighting

GoldCoast Resource Corp. 

^{Recent Price - CA$1.00}

^{Shares Outstanding – 69.8 million approx.}

^{Rating - Buy around the CA$1.00 level}

GoldCoast Resource Corp. (GCR:CSE) plans to operate off the shallow waters of Ghana's continental shelf. This area is unique in the world because 3 river systems have traversed through the gold-bearing structures of Ghana for millennia, depositing gold-bearing aggregates in a relatively concentrated area.

Ghana is the largest gold producer in Africa and #6 in the world. According to GoldCoast VP Exploration, eroded gold inventory mobilized and carried to Ghana's continental shelf is likely around 200 million ounces.

Key Management/Founders

Founder and Chairman Sir Sam Jonah KBE is a distinguished Ghanaian business executive, entrepreneur, and philanthropist, renowned as a pioneer in Africa's mining industry. Appointed CEO of Ashanti Goldfields Company in 1986, he oversaw its growth from a single mine into a multinational. In 1996, Ashanti Goldfields became the first operating African company listed on the New York Stock Exchange.

He became Executive President of AngloGold Ashanti in 2004 following Ashanti's merger with AngloGold, forming the second largest gold producer in the world. In 2003, Her Majesty Queen Elizabeth II conferred on him an Honorary Knighthood as Knight Commander of the Order of the British Empire (KBE).

Founder and Executive Director Tom Griffis is the founder of Griffis Capital, a private investment and corporate management firm based in Toronto and Takoradi, Ghana, focused on natural resource, technology, and healthcare companies requiring early to mid-stage financing.

Founder and VP Exploration, Dr. Robert J. Griffis, is a geologist with 40+ years of experience in West Africa. He is an acknowledged expert on the gold-producing districts of West Africa and was commissioned by the Minerals Commission of Ghana as the senior author of the highly regarded government report “Gold Deposits of Ghana” (2002). It is Dr. Griffis' theory of offshore gold deposits that GoldCoast is testing.

Founder and CEO Michael Nikiforuk has focused the past 30 years of his career within the natural resource sector. Michael was the Founder, past President, and Director of African Gold Group, Inc. (AGG), having served the company since its inception in 2002, through March 2017, at which time control of the company was sold to an international merchant bank. Under Michael's leadership, AGG secured multiple licenses in Ghana, including the northern extension of Newmont's Ahafo project, which was acquired by Newmont and subsequently entered Mali, West Africa (2005), following the acquisition of the Kobada Project from a major European Parastatal organization. Under Michael's leadership, Kobada was transformed into a +3M oz gold project and completed a Definitive Feasibility Study, culminating in securing all mandatory environmental and production permitting. Kobada is currently entering production under the direction of an Australian-listed gold company.

Project

GoldCoast has secured a 10,000 km² Reconnaissance License covering Ghana's western offshore continental shelf. It is the only place on Earth where three major rivers, carrying gold-rich bedload eroded from world-class gold belts over interglacial periods, converge on a shallow continental shelf.

Ghana's emerged coastal plain and submerged continental shelf form a single, continuous surface in which ~2.5M - 11,000 years ago saw at least 17 Glacial – Interglacial cycles. In this period, melting glaciers, catastrophic rainfall, and powerful (high-energy) river flows (all due to climate change) result in intensified erosion. Approximately 400 – 600 vertical meters of oxidized, Gold-bearing bedrock in SW Ghana has been eroded & carried to the ocean, much of this, during the last glacial maximum

During the last Glacial Maximum, about 20,000 years ago, sea levels were about 120m lower. This now emerged coastline is 30 – 50 km further out to sea and is Gold Coast's prime target.

Airborne Survey

GCR has completed an airborne survey on 300 km of Ghana's coastline × ~33 km offshore (~10,000 km²) covering the shallow continental shelf where Gold-bearing sediment deposition, in paleo river channels, re-worked beach sands & trap geometries, is anticipated. The objective: Detect magnetic anomalies associated with concentrations of Heavy Minerals (HM): rutile, ilmenite, magnetite, zircon, anticipated to occur in the same depositional zones as Gold. HM = Gold Pathfinders.

Phase 2 will be a Seaborne Survey and Mapping

Simultaneously deploy multibeam sonar, echo sounders, and GPS positioning to map the seafloor across the license area at high resolution. The objective is to generate a 3D bathymetric model of the seafloor that identifies paleo-river channels & re-worked beach sand formations, sediment traps, and geological structures.

Magnetometry Integration to be conducted concurrently with bathymetry using marine magnetometer towed arrays. Designed to detect and delineate magnetic anomalies indicative of heavy mineral presence — Gold Pathfinder

Plenty of gold samples have already been taken. The graphic on the next page shows areas where numerous samples for gold have been taken.

These samples are grams per cubic meter, and with a cubic meter around 1.6 tonnes, to get grams per tonne, divide by 1.6. Much lower gold grades can be potentially economic because of the low cost and low capex of dredging compared to conventional mining.

After GCR completes the seaborne survey, they will do sampling and drilling similar to a conventional onshore mining project, but it can actually be done a lot cheaper because you are not drilling through rock.

They will deploy coring and grab sampling tools to systematically recover stratified sediments from identified magnetic and seismic anomalies. They can then characterize the geologic makeup, mineral content, and depositional patterns of near-surface seabed sediments.

Vibro Core Drill — This is a specialized, high-frequency, low-amplitude vibrating drill used to collect undisturbed, continuous samples of unconsolidated offshore sediments. The Core Barrel is a thin-walled tube, often aluminum or stainless steel, that houses a clear PVC or plastic liner to hold the sediment sample.

They will also use a Clam Shell Sediment Grab Sampling Tool. This is basically a bucket lowered to the seafloor in an open position, it closes, scoops a sample, and is brought back to the surface.

Financial

GCR has raised CA$10.6M to date through brokered and non-brokered private financings. Earlier this year, they completed two tranches of financing at CA$0.85 per share. GoldCoast raised aggregate gross proceeds of CA$8,603,883 with the two tranches of financing.

The company is well-financed, but I expect it will have to do another round of financing before production.

Summary

If there is one place on earth that is best for gold production with dredging, GoldCoast probably has it.

Most of you are familiar with conventional gold mining, but this is a lot different, with numerous advantages. It typically takes 10 to 15 years to explore, develop, build, and permit a conventional mine to production. With a dredging operation, this can be done in two years, and GoldCoast is projecting production in 2028.

It is way cheaper to develop and a way lower capex to get a dredging operation to production. GoldCoast is budgeting about US$9 million to get to a production decision. Marine dredging operations have evolved over the past century and have become proven and efficient. This is why you see the large market caps for companies like Deme Group and Mineros shown above.

GoldCoast does not need the huge capex to build a mine, as they can easily just lease a dredging ship, paid with proceeds of the gold production. They can then easily ramp up production by adding more ships to where they have a fleet of them.

Gold recovery is simple because they are basically mining free gold and can use simple gravity techniques. They also have the potential to mine heavy minerals.

In time, the stock could go to multiples of the current price if they prove out good-sized deposits and get production underway. The stock just started to trade yesterday, so it is hard to say where it will go short-term, but I would make initial purchases around the CA$1.00 level.