Fully Permitted Gold Mine with 50 Baggers Potential

1911 Gold – Updated Snapshot (September 2025)

Latest verified facts

• The company commenced a PEA on the True North restart in late August 2025 with AMC Consultants; a short trial mining campaign (3–5 months) is planned to validate methods and economics ahead of a bulk sample. Newswire+1
• Corporate presentation (Sept 9, 2025) shows 262.32M shares outstanding (296.19M fully diluted) and ~C$15.2M cash including a recent financing. The investor “Stock Information” page lists ~251.26M shares but appears slightly older; use 262.32M basic for modeling. 1911 Gold+1
• Public materials reiterate a unique position at the True North mine & mill (permitted ~1,300 tpd) within the Rice Lake district and an intention to leverage existing infrastructure for a restart. 1911 Gold+1

Latest AISC

• 1911 Gold is not yet back in commercial production; there is no official AISC published for the restart. ($1,700/oz AISC for sensitivities is fine as a placeholder, but it is not company guidance.) Newswire

Reality-check on the user timeline (aligning with current disclosures)

• “PEA Q1 2026, bulk sample Q2 2026, PFS Q4 2027, production Q1 2027.” Based on the company’s Aug 28, 2025 PEA start and stated plan, a more consistent sequence is: PEA (initiated late-2025) → trial mining / bulk sample mid-2026 → economic decision & possible PFS into 2027 → construction decision thereafter. Production before PFS completion is unlikely; treat Q1 2027 production as optimistic unless the trial/bulk sample justifies an accelerated plan. Newswire+1

Updated risks

• Study/Timing risk: PEA only just started; outcomes on grade, recoveries, and capex/opex may shift, affecting start dates. Newswire
• Cost uncertainty: No AISC yet; inflation, power, labor, and underground development could push costs above placeholder assumptions.
• Financing risk: Bulk sample profits (if any) are uncertain; additional capital may be required, potentially dilutive despite your “no equity” plan.
• Restart execution: Underground restarts often encounter dilution, ground conditions, and ramp constraints that diverge from plans.
• Permitting/ESG: The site is permitted and in Canada, but trial mining and any plant/mine modifications still require regulatory steps. 1911 Gold
• Commodity price exposure: Sensitivities rely on very high gold/silver prices; downside compresses FCF and multiples.

Key catalysts (next 6–24 months)

• PEA completion (first formal restart economics). Newswire
• Trial mining / bulk sample results planned for mid-2026, providing reconciliation data and potential cash contribution. Junior Mining Network
• Additional drill results across True North targets that could grow or upgrade resources. Investing News Network (INN)
• Financing updates and any government support programs; clarity on construction decision path post-PEA/bulk sample. Junior Mining Network

Expected timeline (grounded in current disclosures)

• H2 2025: PEA in progress; underground delineation drilling continues. Newswire
• Mid-2026: Trial mining / bulk sample window (3–5 months) to validate the mine plan and economics. Junior Mining Network
• 2027: Depending on PEA outcomes and bulk sample results, advance to PFS/financing and a construction decision; first production could follow thereafter (not before studies unless an accelerated path is explicitly approved). Newswire

FCF sensitivities (copy-friendly; use your production/AISC path) Method: FCF ≈ annual ounces × (price − AISC). Assumptions: AISC = US$1,700/oz (placeholder), shares = 262,320,000 basic. These are operating proxies (pre-tax, pre-interest, pre-sustaining nuances) for torque illustration.

Gold = US$4,500/oz (margin = 2,800/oz)

• 45,000 oz (your 2027): FCF ≈ US$126M; 10× = US$1.26B → ~US$4.80/sh; 15× = US$7.20/sh; 20× = US$9.60/sh
• 70,000 oz (late-2028): FCF ≈ US$196M; 10× = US$1.96B → ~US$7.47/sh; 15× = US$11.20/sh; 20× = US$14.94/sh
• 100,000 oz (2029): FCF ≈ US$280M; 10× = US$2.80B → ~US$10.67/sh; 15× = US$16.00/sh; 20× = US$21.33/sh
• 120,000 oz (expanded mill): FCF ≈ US$336M; 10× = US$3.36B → ~US$12.80/sh; 15× = US$19.20/sh; 20× = US$25.60/sh

Gold = US$5,000/oz (margin = 3,300/oz)

• 45,000 oz: FCF ≈ US$148.5M; 10× = US$1.485B → ~US$5.66/sh; 15× = US$8.49/sh; 20× = US$11.32/sh
• 70,000 oz: FCF ≈ US$231.0M; 10× = US$2.31B → ~US$8.81/sh; 15× = US$13.22/sh; 20× = US$17.62/sh
• 100,000 oz: FCF ≈ US$330.0M; 10× = US$3.30B → ~US$12.58/sh; 15× = US$18.87/sh; 20× = US$25.16/sh
• 120,000 oz: FCF ≈ US$396.0M; 10× = US$3.96B → ~US$15.09/sh; 15× = US$22.63/sh; 20× = US$30.18/sh

Cash & funding notes

• Corporate presentation lists ~C$15.2M cash post financing (Sept 2025). Any “no dilution” plan assumes bulk-sample proceeds and non-dilutive debt suffice; treat that as aspirational until financing is finalized. 1911 Gold

Bottom line

• 1911 Gold has turned the corner from concept to formal economic work with a PEA underway and a trial mining / bulk-sample plan for mid-2026—the right de-risking steps before construction. With a current basic share count ~262.3M, the project shows strong torque at US$4,500–US$5,000 gold under your AISC/oz path—but outcomes hinge on PEA/PFS results, bulk-sample performance, financing, and execution. Newswire+1