Another company that is very exciting is Bravada Gold Corp. (BVA:TSX.V). I like the project generator model—focusing only on early exploration and not spending on costly drilling. Bravada is mainly following that model in Nevada. It has a project that is called the Wind Mountain project. It just recently signed a deal with Argonaut Gold Inc. (AR:TSX). Argonaut has to spend $7.5M on the project to earn an option to buy gold equivalent resource there, paying $30/oz for that resource and leaving a 1% net smelter royalty for Bravada.
Bravada has a market cap of about $7.5M. The project already has just under 1 million ounce (Moz) gold equivalent resource at this time (all categories). I think those numbers will go up considerably with $7.5M spent on drilling. Some of that will go to upgrading, but a lot of it will be stepout drilling. Wind Mountain is a former gold producer. It has lots of other projects that other companies are spending money to go in to develop. Bravada's stock is at $0.055 cents right now and is very undervalued. It's very small, but it has good management and does have other projects in Nevada that money will be spent on by other partners. I don't think people are paying attention. Argonaut is a proven, smaller midtier producer that could make it happen.
