Far East Capital Newsletter
Golden Camel plans to be Victoria's next gold producer
6 Nov 2022

In This Issue

Golden Camel plans to be Victoria's next gold producer

Golden Camel (GCM) is an unlisted prospective gold producer based in the Heathcote region of Central Victoria. I may have mentioned it previously in the context that it is planning to build and commission a CIL gold treatment plant on the ML owned by Nagambie Resources, but it deserves coverage in its own right as well as being a strategic player in the region. Its ESG credentials promise both the best environmental practices for emission reduction, renewable power generation and the ability to significantly lower operating costs.

Barton is modestly priced with a market capitalisation of $24.5m, at a 14c share price. Cash was $10.3m at 30 September. That means there is a price tag of only $14.5m on a million ounces of gold and an idle treatment plant.

Barton offers great leverage to the commercialisation of any additional ounces that it may find, at either Tarcoola or Tunkillia. The capex for a restart of the Challenger mill will be very easier, while a large, new plant for Tunkillia will be more complicated.
We can see excellent speculative value in the share price at these levels. Watch for upcoming drill results and resource upgrades in 2023 that will provide better colour. This could be a serious gold producer in the making. 

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