Announcement • Jul 01
Catalyst Metals Limited (ASX:CYL) completed the acquisition of Superior Gold Inc. (TSXV:SGI). Catalyst Metals Limited (ASX:CYL) entered into a definitive agreement to acquire Superior Gold Inc. (TSXV:SGI) for CAD 54.9 million on February 22, 2023. Under the terms of the transaction, common shareholders of Superior will receive 0.3571 of one ordinary share of Catalyst for each Superior common share held. The Exchange Ratio represents the equivalent of CAD 0.44 per Superior Share and a total equity value for Superior of approximately CAD 54 million on a fully-diluted basis. Upon completion of the proposed transaction, existing Catalyst shareholders and former Superior shareholders will own approximately 78% and 22% of the combined company, respectively. As of March 30, 2023, CYL has completed its placement for proceeds of AUD 21.5 million (CAD 19.5 million) and announces a standby loan facility of CAD 5 million with Auramet International Inc. for working capital for the proposed transaction. In case of termination under certain circumstances, Superior to pay Catalyst a termination payment of CAD 2 million.The transaction will be implemented by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of at least 66 2/3% of the votes cast by the shareholders of Superior at special meeting of Superior expected to be held in the second quarter of 2023. As of May 28, 2023, Shareholders meeting is scheduled to be held on June 26,2023. In addition to Superior shareholder approval, the transaction is also subject to the receipt of applicable court approval, dissent rights have not been exercised and not withdrawn with respect to more than 5% of the issued and outstanding common shares, third party approval, Catalyst shareholder approval and the satisfaction of certain other closing conditions, including Catalyst's completion of a financing of at least AUD 20 million (CAD 18.47 million) and up to AUD 50 million (CAD 46.17 million), Superior receiving a fairness opinion as well as other customary closing conditions. A special committee comprised entirely of independent directors of Superior unanimously recommended the transaction to the Board of Directors of Superior. Superior Board has evaluated the agreement with the Company's management and legal and financial advisors and following the receipt and review of a unanimous recommendation from the Special Committee, the Board has unanimously determined that the transaction is in the best interests of the Company and recommends that shareholders of Superior vote in favour of the transaction. Catalyst Metals board of directors has unanimously resolved to support the transaction. Each of the directors and senior officers of Superior have entered into voting and support agreements with Catalyst pursuant to which they have agreed to vote all Superior Shares they own or control in favour of the proposed transaction. Greywolf Capital Management LP, owning approximately 6.33% of the outstanding shares of Superior announced its intention to vote against the proposed acquisition. The transaction has been approved by the shareholders of Superior Gold. Subject to the satisfaction of these conditions, Catalyst and Superior expect that the transaction will be completed in the second quarter of 2023. The transaction is expected to become effective on June 29, 2023, following the Canadian Court approval hearing for which is scheduled for June 28, 2023. Ontario Superior Court of Justice approved the arrangement on June 28, 2023.Superior's financial advisor is National Bank Financial Inc., its Canadian legal counsel is Bennett Jones LLP, and its Australian counsel is Grondal Bruining Pty Ltd. National Bank Financial Inc. has also been retained to provide a fairness opinion to the Board that the consideration offered under the transaction is fair, from a financial point of view to the shareholders of Superior. Catalyst's financial advisor is Argonaut Securities Pty Ltd, its Canadian legal counsel is Cassels Brock & Blackwell LLP, its Australian legal counsel is Gilbert + Tobin, its tax advisor is PwC (in both Canada and Australia), and Entech is a technical consultant to Catalyst. Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), have both recommended that Superior Gold Inc. shareholders vote for the resolution approving the acquisition of the Superior Gold by Catalyst Metals Limited.Catalyst Metals Limited (ASX:CYL) completed the acquisition of Superior Gold Inc. (TSXV:SGI) on June 29, 2023. Announcement • Jun 30
Superior Gold Applies to De-List the Common Shares from the TSX Venture Exchange, Effective on the Close of Markets, June 30, 2023 Superior Gold Inc. ("Superior" or the "Company") and Catalyst Metals Limited announced the completion of the previously announced plan of arrangement (the "Arrangement"), whereby Catalyst has acquired all of the issued and outstanding common shares in the capital of the Company (the "Common Shares") by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario). The Catalyst Shares are listed for trading on the Australian Securities Exchange (the "ASX"). The Company has applied to de-list the Common Shares from the TSX Venture Exchange (the "TSXV"), which is expected to be effective on the close of markets, June 30, 2023. Announcement • Jun 16
Superior Gold To Be Delisted From TSXV Upon Completion of Arrangement Superior Gold Inc. (Superior or the Company) announced that leading independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), have both recommended that Company shareholders vote FOR the resolution approving the acquisition of the Company by Catalyst Metals Limited ("Catalyst") by way of a plan of arrangement in accordance with the Business Corporations Act (Ontario) (the "Arrangement") at the Company's Special meeting to be held on June 26, 2023. Following the completion of the Arrangement, Catalyst will maintain its primary listing on the ASX, and Superior will be delisted from the TSXV. Reported Earnings • Apr 27
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: US$0.12 loss per share (down from US$0.081 profit in FY 2021). Revenue: US$112.6m (down 18% from FY 2021). Net loss: US$14.2m (down 243% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 118%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Jan 26
Superior Gold Inc. Provides Production Guidance for 2023 Superior Gold Inc. provided Production guidance for 2023. For the year, the company expected Gold production of Low of 65,000 oz to High of 74,000 oz. Announcement • Nov 29
Superior Gold Inc. Revises Production Guidance for 2022 Superior Gold Inc. revised production guidance for 2022. The company revised 2022 annual production guidance of between 62,000 and 65,000 ounces. Reported Earnings • Nov 27
Third quarter 2022 earnings released: US$0.032 loss per share (vs US$0.009 profit in 3Q 2021) Third quarter 2022 results: US$0.032 loss per share (down from US$0.009 profit in 3Q 2021). Revenue: US$25.7m (down 25% from 3Q 2021). Net loss: US$3.96m (down 463% from profit in 3Q 2021). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Nov 23
Superior Gold Inc. to Report Q3, 2022 Results on Nov 28, 2022 Superior Gold Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 28, 2022 Announcement • Oct 13
Superior Gold Inc. Provides Production Guidance for the Year 2022 Superior Gold Inc. announced that considering the suspension of open pit mining, production guidance for 2022 has been revised. Gold ounces expected to be produced this year have been lowered from between 69,000 and 75,000 ounces and are now expected to range between 62,000 ounces and 65,000 ounces. Announcement • Sep 27
Superior Gold Inc. Further Extends High-Grade Mineralization, Including 10.5 g/t Gold over 27.3 metres in a Favourable Location to the Current Portal at Plutonic Superior Gold Inc. announced additional high-grade drill results from its ongoing underground diamond drill program at Indian Access at its 100%-owned Plutonic Gold mine in Western Australia. Highlights: Drill hole UDD25627 intersected 10.5 g/t gold over 27.3 metres including 1.0 metre at 48.5 g/t gold, 1.0 metre at 44.1 g/t gold, 0.6 metre at 34.3 g/t gold, 0.8 metre at 29 g/t gold and 1.0 metre at 32.9 g/t gold. Drill hole UDD25624 intersected 15.6 g/t gold over 4.5 metres including 2.4 metre at 28.1 g/t gold, 15.0 g/t gold over 4.0 metres including 1.3 metre at 43.3 g/t gold, and 25.5 g/t gold over 1.3 metres. Drill hole UDD25668 intersected 5.3 g/t gold over 8.0 metres. Results are provided for 17 underground exploration drill holes, drilled in May 2022, for a total of 1,487 metres of drilling. Drilling was focused on extending and infilling known mineralization in the Indian Access area, located between the existing Caribbean and Indian mining areas at Plutonic. The Indian Access mining area is under-explored and remains open along strike and both up and down dip as it is yet to be fully drill tested. The Indian Access mining area increased in priority following a reinterpretation of mineralization controls particularly given its proximity to existing infrastructure and the surface. This area of interest represents a footprint of approximately 500 metres by 300 metres as a possible future new mining front in an area that has limited historical mining. Drilling results from this statement are not included in the December 2021 Mineral Resource estimates, however, due to its dynamic geological model the Company is able to include all drilling results in its mine planning optimization processes. The Indian Access intercepts such as 10.5 g/t gold over 27.3 metres in hole UDD25627, 15.6 g/t gold over 4.5 metres in hole UDD25624, and many more significant intercepts demonstrate great potential in an under-explored area of the mine. These targets have been identified through careful re-interpretation of late crosscutting dykes and earlier Northwest faults. The grade intercepts are down dipping extensions of known mineralization and also include a "new" zone approximately 100 meters from existing mining infrastructure. These high-grade zones are interpreted to coincide with a similar northwest control on stacked lodes that extend throughout the entire mine from the surface through to the Baltic Extension area. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.92 million ounces together with an Inferred Mineral Resource of 3.97 million ounces. The Company's continuous exploration effort underpins a commitment to reserve and resource growth. Drilling is completed with NQ2 core diameter (50.7 mm) and samples are from whole core. Gold results were determined by Aurum Laboratories (Perth) and/or Plutonic laboratory using fire assay fusion. Standards, blanks, and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory. Major Estimate Revision • Aug 24
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$147.5m to US$131.1m. Forecast loss of -US$0.05, down from profit of US$0.06 per share profit previously. Metals and Mining industry in Canada expected to see average net income growth of 4.0% next year. Consensus price target down from CA$1.45 to CA$1.16. Share price fell 4.8% to CA$0.49 over the past week. Reported Earnings • Aug 18
Second quarter 2022 earnings released: US$0.016 loss per share (vs US$0.01 profit in 2Q 2021) Second quarter 2022 results: US$0.016 loss per share (down from US$0.01 profit in 2Q 2021). Revenue: US$31.5m (down 8.6% from 2Q 2021). Net loss: US$1.99m (down 266% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 10.0% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Aug 18
Superior Gold Inc. Revises Production Guidance for the Year 2022 Superior Gold Inc. revised production guidance for the year 2022. For the year 2022, the company expects gold production of 69,000 oz to 75,000 oz compared to previous guidance of 80,000 oz to 90,000 oz. Announcement • Aug 05
Superior Gold Inc. to Report Q2, 2022 Results on Aug 17, 2022 Superior Gold Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 17, 2022 Major Estimate Revision • Jul 16
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$155.3m to US$151.5m. EPS estimate also fell from US$0.11 per share to US$0.08 per share. Net income forecast to grow 97% next year vs 10% growth forecast for Metals and Mining industry in Canada. Consensus price target down from CA$1.58 to CA$1.55. Share price fell 8.0% to CA$0.69 over the past week. Recent Insider Transactions • Jun 08
Independent Director recently bought CA$51k worth of stock On the 1st of June, Damien Marantelli bought around 60k shares on-market at roughly CA$0.85 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$522k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 04
Independent Director recently bought CA$51k worth of stock On the 1st of June, Damien Marantelli bought around 60k shares on-market at roughly CA$0.85 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$522k more in shares than they have sold in the last 12 months. Announcement • Jun 02
Superior Gold Inc. Announces Additional High-Grade Drill Results from its Ongoing Underground Diamond Drill Program at its 100%-Owned Plutonic Gold Mine in Western Australia Superior Gold Inc. announced additional high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is an Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.92 million ounces together with an Inferred Mineral Resource of 3.97 million ounces (December 2021 Mineral Resource and Reserve). The Company's continuous exploration effort underpins a commitment to reserve and resource growth. Results are provided for 57 underground exploration drill holes, drilled from October 2021 to March 2022, for a total of 7,397 metres of drilling. Drilling was focused on extending and infilling known mineralization in the Indian Access area, located between the existing Caribbean and Indian mining areas at Plutonic. The Indian Access mining area is under-explored and remains open along strike and both up and down dip as it is yet to be fully drill tested. The Indian Access mining area increased in priority following a reinterpretation of mineralization controls particularly given its proximity to existing infrastructure and the surface. This area of interest represents a footprint of approximately 500 metres by 300 metres as a possible future new mining front in an area that has limited historical mining as seen in Figure 2. Drilling results from this statement were not included in the recent Mineral Resource estimates, however, it is the Company's intention to reflect these results in the planning for the 2022 mine plan as well as future iterations of the mine plans pending results from the resource model updates. The results announced May 31, 2022 expand the Caribbean and Indian zones, directly adjacent to existing underground infrastructure, which should require minimal capital to develop. The intersections are shown in Table 1 below. Reported intersections are over a minimum downhole length of 0.30 metres (approx. 0.20 metres true width). These results announced May 31, 2022 give the company further confidence that high-grade extensions of the Plutonic orebody can be systematically targeted. Results such as hole UDD25437 which intersected 58.9 g/t gold over 2.7 metres, and hole UDD25332 which intersected 17.6 g/t gold over metres indicate that significant mineralization can still be discovered. These drilling results have 26 intercepts containing over 20-gram meters (downhole intersection times Gold value uncut) and 64 intercepts containing over 4.5-gram metres on a total of 57 holes. The high drill success rate from this project area reflects the effectiveness and accuracy of the reinterpretation and remodelling approach currently applied. The company's investment in re-interpreting historical data, with this recent success as an example, will further assist the company's strategy to extend Plutonic's mine life. The close proximity to the adit and the ease of access to this area is a favourable location for the current portal at the Plutonic Mine. INDIAN ACCESS: The Indian Access intercepts such as 58.9 g/t gold over 2.7 metres in hole UDD25437, 17.6 g/t gold over 7.7 metres in hole UDD25332, 20.5 g/t gold over 5.1 metres in hole UDD25073, and many more significant intercepts demonstrates great potential in an under-explored area of the mine. These targets have been identified through careful re-interpretation of late crosscutting dykes and earlier Northwest faults. The grade intercepts are down dip extensions of known mineralization and also include a new zone approximately 100 metres from existing mining infrastructure. These high-grade zones are interpreted to coincide with a similar northwest control on stacked lodes that extend throughout the entire mine from the surface through to the Baltic Extension area. Quality Control Protocols: Drilling is completed with NQ2 core diameter (50.7 mm) and samples are from whole core. Gold results were determined by Aurum Laboratories (Perth) and/or Plutonic laboratory using fire assay fusion. Standards, blanks, and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory. Major Estimate Revision • Jun 01
Consensus EPS estimates fall by 45% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$158.1m to US$156.4m. EPS estimate also fell from US$0.11 per share to US$0.06 per share. Net income forecast to grow 154% next year vs 24% growth forecast for Metals and Mining industry in Canada. Consensus price target up from CA$1.45 to CA$1.54. Share price rose 6.3% to CA$0.84 over the past week. Reported Earnings • May 26
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: US$0.011 (down from US$0.029 in 1Q 2021). Revenue: US$30.2m (down 3.3% from 1Q 2021). Net income: US$1.40m (down 60% from 1Q 2021). Profit margin: 4.6% (down from 11% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 18%, compared to a 36% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • May 21
Mark Wellings Not to Stand for Re-Election as Chairman of the Board of Superior Gold Inc Superior Gold Inc. announced that after five years as Chairman of the Board, Mr. Mark Wellings will not be seeking re-election due to other professional commitments, at its upcoming Annual General Meeting to be held on June 23, 2022. Announcement • May 10
Superior Gold Inc. to Report Q1, 2022 Results on May 25, 2022 Superior Gold Inc. announced that they will report Q1, 2022 results Pre-Market on May 25, 2022 Announcement • Apr 22
Superior Gold Inc Announces Additional High-Grade Drill Results from Diamond Drill Program At Plutonic Gold Mine in Western Australia Superior Gold Inc. announced additional high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces. The Company's continuous exploration effort underpins a commitment to resource growth. Results are provided for 12 underground exploration drill holes, drilled from November 2021 to January 2022, for a total of 1,616 metres of drilling. This drilling was focused on extending and infilling the Eastern Mining Front, which includes the Caribbean, Cortez and A134 Zones. The Eastern Mining Front is yet to be fully drill tested and remains open along strike and up-dip. Drill hole UDD24919 intersected 4.3 g/t gold over 5 metres Drill hole UDD24922 intersected 4.3 g/t gold over 3.8 metres Drill hole UDD24924 intersected 3.9 g/t gold over 5.3 metres These results potentially expand the Eastern Mining Front by a further 180 metres, directly adjacent to existing underground infrastructure, thus requiring minimal capital to develop the area Reported intersections are over a minimum downhole length of 0.30 metres (~0.20 metres true width). results gives further confidence that extensions of the Plutonic orebody to the east can be systematically targeted. These include results such as hole UDD24919 which intersected 4.3 g/t gold over 5 metres and hole UDD24922 which intersected 4.3 g/t gold over 3.8 metres, both located on the Eastern Mining Front. Superior Gold's mine exploration program is designed to open new mining fronts by targeting extensions of high-grade mineralization that are close to existing infrastructure but outside of the current Mineral Resources. Numerous significant historical high-grade intercepts, both throughout and peripheral to the large mineralized system at Plutonic, have yet to be followed up. The immediate focus is on expanding key areas to open new mining fronts in the Eastern Mining Front (which includes the Caribbean, Cortez and Z134 zones). The Eastern Mining Front extends approximately 2.4 kilometres along the eastern edge of the Caspian, Caribbean, Cortez and A134 Zones of the Plutonic underground mine. It remains open, with several historic high-grade intercepts confirming mineralization continuity outside of Mineral Resources. The Eastern Mining Front Zone results include 4.3 g/t gold over 3.8 metres intersected in hole UDD24922, located approximately 70 metres from the existing Mineral Resource envelope, and 4.3 g/t gold over 5 metres, in hole UDD24919 located approximately 20 metres from current infrastructure. The highest-grade intercept is 6.8 g/t gold over 1 metre in hole UDD24923 which is adjacent to the existing development. Announcement • Apr 20
Superior Gold Inc. Reaffirms Production Guidance for the Full Year 2022 Superior Gold Inc. reaffirmed production guidance for the full year 2022. For the year, the company expects production guidance of 80,000 to 90,000 ounces maintained with increased production targeted for the remainder of 2022 as originally planned. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.10, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Metals and Mining industry in Canada. Total returns to shareholders of 104% over the past three years. Announcement • Apr 09
Superior Gold Inc., Annual General Meeting, Jun 23, 2022 Superior Gold Inc., Annual General Meeting, Jun 23, 2022. Major Estimate Revision • Mar 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$142.6m to US$152.9m. EPS estimate fell from US$0.11 to US$0.05 per share. Net income forecast to shrink 32% next year vs 6.9% growth forecast for Metals and Mining industry in Canada . Consensus price target up from CA$1.25 to CA$1.35. Share price was steady at CA$0.89 over the past week. Major Estimate Revision • Mar 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$142.6m to US$152.9m. EPS estimate fell from US$0.11 to US$0.05 per share. Net income forecast to shrink 32% next year vs 6.9% growth forecast for Metals and Mining industry in Canada . Consensus price target up from CA$1.25 to CA$1.35. Share price was steady at CA$0.89 over the past week. Announcement • Mar 10
Superior Gold Inc. Provides Production Guidance for the Full Year 2022 Superior Gold Inc. provided production guidance for the full year 2022. For the year, the company expects production of gold to be in the range of 80,000 oz to 90,000 oz. Reported Earnings • Mar 10
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: US$0.081 (up from US$0.047 loss in FY 2020). Revenue: US$137.7m (up 30% from FY 2020). Net income: US$9.90m (up US$14.7m from FY 2020). Profit margin: 7.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 10%, compared to a 17% growth forecast for the mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 25
Superior Gold Inc. to Report Q4, 2021 Results on Mar 08, 2022 Superior Gold Inc. announced that they will report Q4, 2021 results Pre-Market on Mar 08, 2022 Announcement • Jan 18
Superior Gold Inc. Provides Production Guidance for the Full Year 2022 Superior Gold Inc. provided production guidance for the full year 2022. For the period, the company expected production to be in the range of 80,000 oz to 90,000 oz of gold. Announcement • Dec 14
Superior Gold Inc. Extends High-Grade Mineralization in Favourable Location to Current Portal At Plutonic Superior Gold Inc. announced additional high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces. The Company's continuous exploration effort underpins a commitment to reserve and resource growth. Results are provided for 23 underground exploration drill holes, drilled through to October 2021, for a total of 3,935 metres of drilling. Drilling was focused on extending and infilling known mineralization in the Indian Access area, located between the existing Caribbean and Indian mining areas at Plutonic. The Indian Access mining area is under-explored and remains open along strike and both up and down dip as it is yet to be fully drill tested. The Indian Access mining area increased in priority following a reinterpretation of mineralization controls particularly given its proximity to existing infrastructure and surface. This area of interest represents a footprint of approximately 400m by 200m between existing development and a potential new mining front that is separate from the previously announced Western Mining Front. The results announced expand the Caribbean and Indian zones, directly adjacent to existing underground infrastructure, which should require minimal capital to develop. Reported intersections are over a minimum downhole length of 0.30 metres (approximately.20 metres true width). The Indian Access intercepts of 20.4 g/t gold over 3.5 metres in hole UDD24725, 29.7 g/t gold over 0.9 metres in hole UDD24538B and 11.9g/t gold over 4.3 metres in hole UDD24555 demonstrates great potential in an under-explored area of the mine. These targets have been identified through careful re-interpretation of late crosscutting dykes and earlier Northwest faults. The grade intercepts are down dip extensions of known mineralization and also a "new" zone approximately 100 metres from existing mining infrastructure. These high grade zones are interpreted to coincide with a similar northwest control on stacked lodes that extend throughout the entire mine from surface through to the Baltic Extension area. Drilling is completed with NQ2 core diameter (50.7 mm) and samples are completed with combination of whole core and half core. Gold results were determined by ALS Minerals (Perth) and/or Plutonic laboratory using fire assay fusion. Standards, blanks and duplicates are included in approximately every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the laboratory. Announcement • Nov 30
Superior Gold Reports on Continued Signficant Intersects as It Continues to Open the 1.6Km Long Western Mining Front At Plutonic Superior Gold Inc. announced additional high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold over 32 years of continuous operation and encompasses a Measured and Indicated Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces. The company's continuous exploration effort underpins a commitment to resource growth. Results are provided for 20 underground exploration drill holes, drilled from August to October 2021, for a total of 2,939 metres of drilling. This drilling was focused on extending and infilling the Western Mining Front, which includes the Baltic West and Baltic West Extension Zones. The Western Mining Front is yet to be fully drill tested and remains open along strike and both up and down dip. HIGHLIGHTS (all from the Baltic West Extension Zone): Drill hole UDD24581 intersected 53.6 g/t gold over 2.7 metres, including 192.1 g/t over 0.7 metres; Drill hole UDD24589A intersected 11.9 g/t gold over 7.6 metres, including 108.4 g/t over 0.6 metres; Drill hole UDD24855 intersected 4.5 g/t gold over 11 metres; Drill hole UDD24585 intersected 4.1 g/t gold over 6.7 metres. The results announced expand the Western Mining Front by a further 60 metres, directly adjacent to existing underground infrastructure, thus requiring minimal capital to develop the area. During 2021, the company has provided a number of exploration updates on drilling along the Western Mining Front and Baltic Gap. The targeted drilling is consistent with the Company's stated exploration strategy to accelerate exploration and identify new mining fronts in order to further improve mining grades, increase productivity and reduce remnant mining in 2022 and beyond. Combined with the latest drilling results released in the third quarter of 2021, results show continued extensions of the western edge of the Plutonic deposit a further 60 meters along the entire Western Mining Front. The results give further confidence that high grade extensions of the Plutonic orebody can be systematically targeted. Results such as hole UDD24581 which intersected 53.6 g/t gold over 2.7 metres, including 192.1 g/t over 0.7 metres and hole UDD24589A which intersected 11.9 g/t gold over 7.6 metres, including 108.4 g/t over 0.6 metres both in the Baltic West Extension Zone build on previous results such as drill hole UDD24141 in the Caspian Zone, which intersected 42.2 g/t gold over 5.6 metres, and drill hole UDD24376 in the Baltic Extension Zone, which intersected 17.7 g/t gold over 6.4 metres. The company's mine exploration program is designed to open new mining fronts by targeting extensions of high-grade mineralization that are close to existing infrastructure but outside of the current Mineral Resources. Numerous significant historical high-grade intercepts, both throughout and peripheral to the large mineralized Plutonic system, have yet to be followed up. The immediate focus is on expanding key areas to open new mining fronts in the Western Mining Front (which includes the Caspian, Indian Baltic and Baltic Extension Zones). The Western Mining Front extends approximately 1.6 kilometres along the western edge of the Caspian, Indian, Baltic and now Baltic Extension Zones of the Plutonic underground mine. It remains open, with several historic high-grade intercepts confirming mineralization continuity outside of Mineral Resources. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS US$0.009 (vs US$0.021 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$34.2m (up 26% from 3Q 2020). Net income: US$1.10m (up US$3.15m from 3Q 2020). Profit margin: 3.2% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 23
Independent Chairman of the Board recently bought CA$148k worth of stock On the 20th of September, Mark Wellings bought around 301k shares on-market at roughly CA$0.49 per share. In the last 3 months, they made an even bigger purchase worth CA$280k. Mark has been a buyer over the last 12 months, purchasing a net total of CA$427k worth in shares. Recent Insider Transactions • Sep 12
Independent Chairman of the Board recently bought CA$280k worth of stock On the 9th of September, Mark Wellings bought around 500k shares on-market at roughly CA$0.56 per share. This was the largest purchase by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Aug 20
Independent Director exercised options to buy CA$244k worth of stock. On the 16th of August, Tamara Brown exercised options to buy 417k shares at a strike price of around CA$0.62, costing a total of CA$260k. This transaction amounted to 393% of their direct individual holding at the time of the trade. Since December 2020, Tamara has owned 106.00k shares directly. Company insiders have collectively bought CA$364k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Aug 18
Superior Gold Inc. Intersects 42.2 G/t Over 5.6 Metres and 17.7 G/t Over 6.4 Metres as it Opens 1.6km Long Western Mining front at Plutonic Superior Gold Inc. announced high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold to date and encompasses a Measured and Indicted Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces. The Company's continuous exploration effort underpins a commitment to resource growth. Results are provided for 52 underground exploration drill holes for a total of 8,451 metres of drilling. Drilling was focused on extending and infilling the Western Mining Front which remains open along strike and both up and down dip as it is yet to be fully drill tested. Superior Gold's mine exploration program is designed to open new mining fronts by targeting extensions of high-grade mineralization that are close to existing infrastructure but outside of the current Mineral Resources. Numerous significant historical high-grade intercepts, both throughout and peripheral to the large mineralized Plutonic system, have yet to be followed up. The Western Mining Front extends approximately 1.6 kilometre along the western edge of the Caspian, Indian and Baltic zones of the Plutonic underground mine and remains open, with several historic high-grade intercepts confirming mineralization continuity outside of Mineral Resources. The Caspian zone results include 42.2 g/t gold over 5.6 metres (hole UDD24141), extending the Caspian zone along the northwest Guppy Trend, which is now thought to extend the entire 1.6 kilometre length of the Western Mining Front. The Baltic West zone also includes results along the Guppy Trend, located between the Indian zone and Baltic zone results, approximately 50 metres up dip from the March 2021 Baltic zone results and 170 metres west of the current Mineral Resource envelope. Consistent grade bearing intersections, including 140.4 g/t gold over 1.4 metres (grade control hole UDD23993) and 10.1 g/t gold over 4.0 metres (hole UDD24191), further demonstrate continuity of the typical Plutonic mineralization system, being a high-grade stacked lode system. The Baltic Extension zone results include 17.7 g/t gold over 6.4 metres (hole UDD24376) and 6.4 g/t gold over 5.9 metres (hole UDD 24379), up to 100 metres northwest of the existing Mineral Resource envelope. These results support continuity with historical high-grade step out intercepts, such as 6.7 g/t gold over 6.8 metres (hole PEDD0221), which demonstrates a 620 metre strike of high-grade mineralization, including present results. Present results also support the hypothesis that the grades at Plutonic are controlled by the northwest trending faults. These results are also adjacent and in close proximity to existing infrastructure which translates to minimal capital expenditures required to infill drill and develop the area. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS US$0.01 (vs US$0.004 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$34.4m (up 38% from 2Q 2020). Net income: US$1.20m (up US$1.56m from 2Q 2020). Profit margin: 3.5% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Executive Departure • Jul 13
Director Michael Mulroney has left the company On the 1st of July, Michael Mulroney's tenure as Director ended after 2.2 years in the role. We don't have any record of a personal shareholding under Michael's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.33 years. Announcement • Jun 24
Superior Gold Intersects 14.8 g/t over 13.4 Metres as it Extends the Baltic Gap Mining Front at Plutonic Superior Gold Inc. announced high-grade drill results from its ongoing underground diamond drill program at its 100%-owned Plutonic Gold mine in Western Australia. Plutonic is a world-class Archean lode-style gold mineralized system that has produced close to six million ounces of gold to date and encompasses a Measured and Indicated Mineral Resource of 1.89 million ounces together with an Inferred Mineral Resource of 3.07 million ounces. The Company's continuous exploration effort underpins a commitment to resource growth. Results are provided for 18 underground exploration and infill drill holes for a total of 2,143 metres of drilling. Significant intercepts (intercepts above 4.5 gram-metres) were recorded in 78% of the holes drilled, representing a very strong hit ratio. Drilling during April 2021 was focused on extending and infilling the Baltic Gap mining front which has yet to be fully drill tested. Drill hole UDD24342 intersected 14.8 g/t gold over 13.4 metres in the Baltic Gap mining front. This new mining front now extends approximately 350 metres by 200 metres outside of the current Mineral Resource estimate. The new Baltic Gap mining front is also directly adjacent to existing underground infrastructure, thus requiring minimal capital to develop the area. Today's drill results continue to support the Company's strategy of opening new high-grade mining fronts in the Plutonic underground. Reported Earnings • May 13
First quarter 2021 earnings released: EPS US$0.029 (vs US$0.04 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$31.2m (up 18% from 1Q 2020). Net income: US$3.53m (up US$7.36m from 1Q 2020). Profit margin: 11% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • May 12
Superior Gold Inc. Reaffirms Production Guidance for 2021 Superior Gold Inc. reaffirmed production guidance for 2021. For the year, the company expects gold production to be in the range of 65,000 oz to 75,000 oz. Reported Earnings • Mar 11
Full year 2020 earnings released: US$0.047 loss per share (vs US$0.12 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$106.1m (down 8.2% from FY 2019). Net loss: US$4.80m (loss narrowed 60% from FY 2019). Production and reserves: Gold Production: 63.065 troy koz (83.035 troy koz in FY 2019) Number of mines: 2 (2 in FY 2019) Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 21% per year. Analyst Estimate Surprise Post Earnings • Mar 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 17%, compared to a 45% growth forecast for the Metals and Mining industry in Canada. Announcement • Mar 03
Superior Gold Announces High Grade Extension of Plutonic's Western Mining Front Superior Gold Inc. announce positive drill results from its new underground diamond drill program which commenced in December 2020 at its 100%-owned Plutonic Gold mine in Western Australia. Results are provided for seven drill holes for a total of 1,372 metres of drilling. Drilling during December 2020 and January 2021 was focused on the northwest of the Baltic zone which has yet to be fully drill tested. KEY FINDINGS: Drill hole UDD23656 intersected 13.7 g/t gold over 8.8 metres, Drill hole UDD23653 intersected 52.7 g/t gold over 1.0 metre, Mineralization extended 100 metres outside of current Mineral Resources, but within 50 metres of existing infrastructure, Results support the Company's strategy of opening a new Western Mining Front at Plutonic underground. It is also important to note that these results support a new theory that mineralization at Plutonic is controlled by northwest trending faults, both at a macro and micro level, and specifically that these faults control where the concentration of high-grade gold is deposited. Drilling was completed over a strike length and vertical extent of approximately 100 metres by 200 metres, respectively. Mineralization remains open both up and down dip and along strike. These results continue to illustrate the prospectivity at Plutonic and highlight the potential to expand mineralization west of the Indian and Baltic zones and further extend the mine life. Is New 90 Day High Low • Mar 02
New 90-day low: CA$0.55 The company is down 7.0% from its price of CA$0.59 on 01 December 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$2.48 per share. Announcement • Feb 26
Superior Gold Inc. to Report Q4, 2020 Results on Mar 09, 2021 Superior Gold Inc. announced that they will report Q4, 2020 results Pre-Market on Mar 09, 2021 Announcement • Jan 20
Superior Gold Inc. Appoints Damien Marantelli to the Board of Directors Superior Gold Inc. announced the appointment of Mr. Damien Marantelli to its Board of Directors. Mr. Marantelli is an experienced mining engineer with extensive operational and leadership experience across a variety of commodities and brings 40 years of international mining industry experience to the Company. Mr. Marantelli's most recent roles have been Chief Executive Officer and Director of Metals X, Chief Operating Officer of Primero Mining and senior management positions with First Quantum Minerals, Inmet Mining and WMC Resources. Announcement • Jan 02
Superior Gold Inc. Files Technical Report to Support Previously Released Preliminary Economic Assessment for the Plutonic Main Pit Push-Back Project and Updated Mineral Resource Estimate Superior Gold Inc. announced the filing of an independent technical report in accordance with Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101") to support the Preliminary Economic Assessment ("PEA") of a push-back of the previously producing main pit as well as an updated Mineral Resource estimate at its 100%-owned Plutonic Gold Operations located in Western Austrlia. The company’s Updated Mineral Resource Highlights: Updated Measured and Indicated Mineral Resources of 1.89 million ounces of gold (16.26 million tonnes at a 3.6 g/t Au grade) and Updated Inferred Mineral Resources of 3.07 million ounces of gold (30.55 million tonnes at a 3.1 g/t Au grade). Announcement • Dec 03
Superior Gold Inc. Announces Positive Preliminary Economic Assessment for the Plutonic Main Pit Push-Back Project Superior Gold Inc. announced the positive results from the independent Preliminary Economic Assessment ("PEA") of a push-back of the previously producing main pit (the "Plutonic Main Pit") as well as an updated Mineral Resource estimate at its 100%-owned Plutonic gold operations, located in Western Australia (the "Plutonic Gold Operations"). The PEA demonstrates the potential of the Plutonic Main Pit to be a robust open pit gold mine with compelling project economics. Based on the results of the PEA, the Company expects to proceed to a Pre-Feasibility Study ("PFS") for the Plutonic Main Pit push-back project. The Plutonic Main Pit push-back project is part of the Plutonic Gold Operations located 800 kilometres north-east of Perth in Western Australia. The Plutonic Main Pit was first put into production in 1990 and produced 2.1 million ounces of gold, along with other satellite pits, between 1990 and 2005 when production in respect of the Plutonic Main Pit ceased. The Plutonic Main Pit is situated directly above the existing underground operations and located directly adjacent to the Company's milling facilities which consist of a 1.8 million tonne per annum ("Mtpa") primary processing plant ("PP1") and a 1.2 Mtpa secondary processing plant ("PP2") which is currently on care and maintenance. Existing tonnage from the underground mine supplies approximately 800,000 tonnes per annum to PP1. Therefore, PP1 has capacity for open pit sources of feed. The PEA considers a push-back of the past producing Plutonic Main Pit utilizing contractor operated conventional open pit mining methods. Drill and blasting of rock will be followed by conventional truck and shovel operations within the open pit for the movement of plant feed and waste with on-site treatment of mine material by conventional milling and gravity recovery through PP1. The PEA also contemplates the expansion of PP1 from 1.8 Mtpa to 2.0 Mtpa with only minor modifications to the existing processing flowsheet. Tailings from the Carbon in Leach ("CIL") circuit will be deposited in the existing on-site paddock style tailings storage facility ("TSF") and the already permitted TSF paddocks 4 and 5 to be constructed starting in late 2021. The push-back of the Plutonic Main Pit encounters a number of potential surface constraints impacting the pit size, including the location of processing plant infrastructure and heritage sites. The PEA base case has been completed conservatively assuming no relocation of any of these open pit constraints. Future work will need to be completed to assess the viability of removing one or more of these pit size constraints. Reported Earnings • Nov 20
Third quarter 2020 earnings released: US$0.022 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$27.2m (up 2.3% from 3Q 2019). Net loss: US$2.10m (loss narrowed 49% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 18
New 90-day low: CA$0.64 The company is down 26% from its price of CA$0.87 on 20 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$17.02 per share. Recent Insider Transactions • Nov 07
Interim CEO & Director recently bought CA$60k worth of stock On the 29th of October, Tamara Brown bought around 86k shares on-market at roughly CA$0.70 per share. This was the largest purchase by an insider in the last 3 months. This was Tamara's only on-market trade for the last 12 months. Announcement • Nov 03
Superior Gold Inc. to Report Q3, 2020 Results on Nov 18, 2020 Superior Gold Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 18, 2020 Recent Insider Transactions • Nov 01
Interim CEO & Director recently bought CA$60k worth of stock On the 29th of October, Tamara Brown bought around 86k shares on-market at roughly CA$0.70 per share. This was the largest purchase by an insider in the last 3 months. This was Tamara's only on-market trade for the last 12 months. Announcement • Oct 31
Superior Gold Inc. has completed a Follow-on Equity Offering in the amount of CAD 15.001 million. Superior Gold Inc. has completed a Follow-on Equity Offering in the amount of CAD 15.001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 21,430,000
Price\Range: CAD 0.7
Discount Per Security: CAD 0.042 Is New 90 Day High Low • Oct 28
New 90-day low: CA$0.69 The company is down 27% from its price of CA$0.95 on 30 July 2020. The Canadian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$52.31 per share. Is New 90 Day High Low • Sep 26
New 90-day low: CA$0.73 The company is down 8.0% from its price of CA$0.79 on 26 June 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CA$12.69 per share. Announcement • Aug 06
Superior Gold Inc. to Report Q2, 2020 Results on Aug 11, 2020 Superior Gold Inc. announced that they will report Q2, 2020 results on Aug 11, 2020