Founders Metals has initiated 2025 with optimism after solid gold drill results at the Antino project in Suriname. The company secured a $30 million financing deal to further its exploration efforts. Notably, shares have doubled in value, and a recent analysis by BMO indicates potential for high-grade gold discoveries at the site, supporting strong investor interest and market positioning.
Founders Metals (TSXV: FDR; US-OTC: FDMIF) has begun 2025 positively following impressive high-grade gold drill results at its Antino project in Suriname. In early February, the Vancouver-based explorer announced a $30 million bought deal financing through BMO Capital Markets, aiming to enhance exploration at Antino with the proceeds. The project’s market performance has seen its shares double in value from mid-August to approximately $5.25, resulting in a market capitalization of $465 million.
The Antino project is located 275 km south of Paramaribo, near the Lawa River, adjacent to French Guiana. Historically, the property has yielded 500,000 ounces of artisanal gold and lies on the Guiana Shield, which contains major gold mines such as Newmont’s Merian and Zijin Mining’s Rosebel. Recently, BMO initiated coverage of Founders with a target price of $7.50, citing a conservative valuation based on potential open-pit mining at Antino.
BMO analyst Andrew Mikitchook noted that Founders Metals has made a significant gold discovery at the Antino project, particularly in the Froyo zone, which has returned impressive results, including intercepts of 38 meters at 10.9 grams gold per tonne. He emphasized the scarcity premium globally for new high-quality gold discoveries, indicating potential for a 290,000-ounce-per-year development scenario for Antino, appealing to investors and mining operators alike.
Recent channel sampling at Antino returned notable results, including 17.8 meters grading 5.68 grams gold within the Van Gogh shear zone, alongside grab samples revealing grades of up to 66.8 grams gold. These findings indicate the discovery of a parallel gold trend separate from the main Antino structure. Founders has commenced a comprehensive 60,000-meter drill program this year, with four drills currently operational after a brief holiday break.
Throughout late 2024, Founders secured industry backing, particularly from B2Gold, which invested $12.1 million in October. Concurrently, Chris Taylor, known for a significant gold discovery in the Red Lake region and former CEO of Great Bear Resources, has joined Founders’ board as an independent director, broadening the company’s expertise and credibility in the sector.
In summary, Founders Metals is poised for growth in 2025 following successful drill results at its Antino project in Suriname. The securing of a $30 million financing deal, alongside significant share price increases and favorable industry developments, positions the company well within the competitive gold mining industry. With strong exploration activities underway, Founders aims to further solidify its place as a leading entity in gold discovery and production.
Original Source: northernminer.com
