Let's take action on what we’ve learned

Photo: Let's take action on what we’ve learned

During the last two days, I have shared my takeaways from the VRIC - why and how gold will be an excellent play for 2021.

We talked about stepping back from the hype, avoiding the "trend of the week", and how to stay focused on value.

We discussed how increasing the money supply to support government spending is a one-way street, as a result, US national debt is at its highest level since World War II.

We also discussed why we think the gold market is still in the early innings.

Last, but not least, we gained insight from VRIC keynote speakers on how they are building their portfolios for the year ahead.

Let's take action on what we’ve learned.

Everybody knows I focus on people over everything when I invest in the small cap sector. My watchlist is a list of names - executives, directors and money managers. I track their movements and I make sure I know all of the deals they are working on.

Everyone needs to find their edge in this sector and knowing the people, is mine.

Following that principle, I want to dive deep into a company that I have been investing in, as I believe they are a gold company that will outperform their peers. Keep in mind, I don’t give investment advice, but I am happy to share where I’ve put my money.

This is a junior gold explorer - developer with impressive high-grade gold assets, in “low-risk” jurisdictions.

They have been flying under the radar since listing on the TSX and NYSE American last October.

A key point for me - they have attracted money from industry giants, including legendary mining executive Ross Beaty.


TSX & NYSE American: $FURY

5 Key Facts about Fury Gold Mines

1. They have a proven management team that legends in the industry are comfortable betting on

2. The are aiming to meaningfully grow their high grade resource base while providing investors with exploration potential

3. Their 80,000 metre drill schedule is now underway. Drill results from all three assets are expected to hit the market steadily over the next 18 months

4. The company is trading at a huge discount to its net asset value

5. Mineral Resources at their Eau Claire asset in Quebec could grow as work progresses

I think this company will make me look very smart in the year ahead.

People and Assets

Fury is in a rare position. They have a proven management team, and three assets any junior mining company would want to get their hands on.

I have mentioned this before, but I am betting big on Ivan Bebek, the Chair of Fury. Bebek is the type of leader that legends like Sprott CEO, Rick Rule, are referring to when they say “it all comes down to the people.”

Bebek is in what I call the sweet spot right now - with a 2000% and a 500% return on his resume, but - you can still invest in his companies without paying celebrity CEO premiums. If he delivers a third time, that will change, but right now the opportunity is perfect.

Back in 2005, Bebek was co-founder of Keegan Resources. He and his team discovered 5 million ounces of gold at the Esaase Project in Ghana. The company became a producer (now Galiano Gold), and his shareholders received a huge win.

Bebek delivered a second time for investors with Cayden Resources, which was founded in 2010. After some promising drill results, he sold Cayden to Agnico Eagle Mines for over $200 million.

I believe that Bebek’s previous winners, Keegan Resources and Cayden Resources, although extremely impressive, are only the beginning.

Bebek, along with Fury President & CEO Mike Timmins (formerly Agnico-Eagle) and SVP Michael Henrichsen (formerly Newmont Mining Corp) have built an impressive management team alongside their technical team, to support their large-scale exploration plans for 2021. They are working in a Fury to get results for their shareholders.

At Fury, the focus is on both resource growth & new discovery –and they have set up shareholders for 18 months of news events.

Fury Gold Mines was formed in 2020 by combining Auryn Resources’ Canadian gold assets (Homestake Ridge in B.C.’s Golden Triangle and Committee Bay in Nunavut) with Eastmain Resources’ assets in Quebec (namely, the Eau Claire project and the Eleonore South JV with Newmont).

This is an impressive portfolio of high-grade gold assets, all of which are located in prolific, mining-friendly regions within Canada.

Two of the assets are low-risk, high reward development projects. The third is an exciting gold exploration asset, adding speculation upside and optionality

Here is what's to come...

An aggressive 80,000-metre drill program:

In the next 18 months, Fury plans to execute an 80,000-metre drill plan across three of their assets – Eau Claire, Homestake Ridge and Committee Bay....

They plan to further explore and develop their major assets to bring Fury closer to its vision of growing its resource base through discovery and, ultimately, pouring gold by 2025.

High-grade development asset #1

The most immediate catalyst will be coming from the Eau Claire project located in the James Bay region, Quebec. In the full report below, you’ll see how promising this looks.

They can drill year-round at Eau Claire, while the summer months will be when things heat up at their other two projects.

Fury has allocated 50,000 metres of drilling at Eau Claire to expand the resource and test for new targets.

Drill results will be continuous over the next 18 months as we enter this next major leg up of the gold market.

World-class development asset #2:

The second development is their Homestake Ridge asset located in the “Golden Triangle”, a world renowned gold producing region in Northern British Columbia. This is near the famous Eskay Creek Mine, where over 3.3 million ounces of gold and 160 million ounces of silver have been mined. Eskay Creek ended up reporting a whopping average grade of 45 g/t of gold.

Fury is planning to drill 20,000 metres at Homestake Ridge in 2021 to primarily expand known mineralization with several high priority targets, which presents a second major opportunity for growth.

Homestake Ridge is another high-grade asset that could significantly increase Fury’s resource profile.

Swinging for the fences – Committee Bay, Nunavut.

This is Fury’s “swing past the fences” project which rounds out their portfolio and brings some world class exploration potential into the mix.

This massive 300km belt, with gold occurrences throughout, is owned wholly by Fury. The company inherited the asset from Auryn Resources after Auryn invested $60 million into exploration there.

They’re focusing on a high-grade signature they’ve identified, the “three bluffs signature”. This is where Fury is planning 10,000 metres of drilling in 2021.

With so much land to explore, and the maturity of pursuing their discoveries, the Committee Bay property is one to watch.

I go into more detail about all three of these assets and the potential in my full report, linked at the bottom of this page.

The junior mining space has consolidated following the huge gains after last March, and Fury may be well positioned to ride the new wave of gold performance with its portfolio of gold projects.

Analysts are in agreement, their targets are well above the company’s share price.

With all that being said,

Check out my full report below:



Jay Martin

Cambridge House


Notice to Readers: Cambridge House publishes corporate profiles based on its assessment of the interest that its readers will have in them. Cambridge House is paid a fee by each corporation profiled. Cambridge house principals may from time to time buy and sell securities in the profiled corporations. Opinions expressed in this profile as they relate to the potential for projects, expectations about possible corporate spin-offs and potential for share appreciation are the personal opinions of the principals of Cambridge House. This profile is not intended to be a prospectus or other similar disclosure document and Cambridge House cannot assume responsibility for its accuracy or completeness. Cambridge House is a publisher, not an investment advisor and nothing in the profile should be interpreted as investment advice. Full disclosure of Fury’s business and projects, including risk factors relating to the corporation and its business, can be found at www.sedar.com. Michael Henrichsen, P.Geo, COO of Fury, is the Qualified Person whose responsibility for this profile is limited to factual geotechnical matters only including the discussions of geological targets, deposit grades, and resource estimates.