Fury Gold Mines CEO Tim Clark (R) talks to TNM host Devan Murugan during the PDAC 2025 in Toronto.
Excessive spending and stretched financing by project developers push even good projects into steep discounts, Fury Gold Mines CEO Tim Clark said.
A good example is the 300-km greenstone belt at Committee Bay in Nunavut. It has a full camp and almost 1.3 million ounces gold in resources. This includes an indicated 2 million tonnes at 7.9 grams gold per tonne for 524,000 oz. of metal. It also holds 2.9 million tonnes inferred at 7.6 grams gold for 720,000 ounces. It’s considered a prime asset on the table as majors look to mergers and acquisitions activity to replenish mined-out reserves.
“Our property at Committee Bay is not worth zero; our share price is zero today,” Clark told The Northern Miner early this month during PDAC convention in Toronto. “If one company comes in to support and validate…
