To all Goldshore Shareholders / Stakeholders / Partners & Contractors,
Thank you so much for being a part of our success story over this past year.
2021 was the inaugural year for Goldshore Resources, from signing the deal with Wesdome Gold Mines to acquire the Moss Lake Project in January 2021; to preparing next year for a long stretch of operational focus for 2022 and into 2023.
So, with 2021 almost behind is, I think we have a lot to celebrate in our short time together; but we are even more focused on what is before us for 2022.
The many achievements in 2021 have included:
- signed the transaction to acquire the Moss Lake Gold Project with Wesdome Gold Mines;
- raised $25M to support the transaction and development;
- received all approvals from the TSXV for admission to trading;
- constructed all of the necessary camp and core shack infrastructure to support a large 100,000m drilling campaign;
- held first engagement and consultation with five (5) of our Indigenous partners in February 2021, and have continued with regular and on-going dialogue since first engagement;
- participated in the Indigenous / First Nations traditional opening ceremony of the Moss Lake Gold site in July, by the traditional Chief and Elder leadership of one of our indigenous host communities;
- first drilling commenced in August 2021;
- raised $10M in November 2021 to further support the development / drilling campaign;
- conducted over 700 investors meetings since inception of Goldshore;
- conducted over 80 live interviews for TV / BNN / Mining Publications;
- generated over 400 direct, digital and print advertisements towards broad marketing / awareness of the Goldshore story;
- attended 9 international conferences in person – with speaking engagements and one-to-one meetings;
- attended 11 virtual conferences – with virtual speaking engagements and virtual one-to-one meetings;
- built a social media following of over 2,000 combined subscribers and 8,500 approved / signed up email listing of investors.
These accomplishments are magnified by the environment in which we had to operate in, as we had several challenges in 2021:
- the forest fires of 2021 in western Canada caused over 4 weeks of rig / equipment down-time due to fire hazard threats in north-western Ontario, with government mandated rigs / heavy equipment down periods;
- Covid-19 – and the on-going challenges of the global pandemic with respect to personal health and safety protocols; employee inter-provincial and international travel; quarantining; required pre-emptive testing and ‘fit for travel” PCR testing;
- the continuous skills and experience shortage in the sector, in both geology as well as drill rig operations / maintenance;
- a sluggish gold price environment / gold equities trading environment – which makes it difficult to raise capital and accrete value from our development activities.
Which brings me to 2022, and the objectives of the forthcoming year. In 2022, our role is to advance the understanding of the Moss Lake Project potential, towards a “Tier One” status in resource size and project potential.
We will achieve those objectives by disciplined execution of our development program, from our contractors through to our employees and other stakeholders.
We will not accept sub-par execution, as my continuous mantra of “speed to market” and the speed at which we execute – has never been more important!
Some of those objectives include:
- completing our 100,000m drill program;
- commencing a resource estimation update to the historical resource, based on the results of the 100,000m program, to be utilized as the basis for an update of the 2013 Preliminary Economic Assessment (“PEA”), which was updated in economics only in 2020;
- commencing the update to the PEA;
- defining and commencing all of the necessary pre-feasibility study (“PFS”) work to support further development of the project towards a bankable study and project financing:
- representative metallurgical test work to maximize recoveries, and support the process design in the PFS;
- further environmental baseline studies and environmental impact assessments (“EIA”), prior to permitting EIA requirements
- further consultation and engagement with our indigenous partners and First Nations host communities
- testing the promising copper targets at: East Coldstream / North Coldstream / Iris Lake and Hamlin Lake, in an effort to understand the quality and quantity of copper & other elements (copper, gold, silver, lead, zinc, molybdenum and others);
- determine where the copper targets / assets sit within the organization;
- continuing with an aggressive investor relations, marketing, advertising and communications program – to create awareness on Goldshore Resources and the Moss Lake Gold Project to as wide an audience globally, as possible.
I was honoured to have attended the many conferences and speaking engagements in 2021, and I welcome all investors, potential investors and followers to check in regularly at the Events section on our Investors Page of our website under the Investors tab to see what’s next.
Anyone interested in speaking with myself or Pete Flindell (VP Exploration) please contact me directly through the Contact Us page of our website Contact Us Page and I will make arrangements to meet and speak to anyone interested in doing so.
Lastly, 2021 was an unprecedented year with regards to human tragedy caused by: severe climate events as a result of significant climate change; the global pandemic and it effects of lockdowns / social restrictions now going into its third full year; and personal sacrifices and increased economic pressures on families as we navigate through a new era of inflation / stagflation and capital market uncertainty.
To that end, I would like to send a message of peace and happiness during the holiday season to all of our shareholders, stakeholders and other partners.
Please stay safe.
Best regards of the season,
Brett A. Richards
Chief Executive Officer