Investor Perception
Cartier Sources presents a compelling gold funding alternative, pushed by a rising Abitibi useful resource, stable institutional assist, and upcoming growth milestones.
Overview
Cartier Sources (TSXV:ECR,FSE:6CA) is a Quebec-based gold exploration firm advancing a compelling development story anchored in considered one of Canada’s most prolific gold areas — the Abitibi Greenstone Belt. With a centered technique, institutional assist and a dedication to innovation, Cartier is constructing a major gold useful resource base whereas positioning its flagship Cadillac undertaking as an rising mining camp east of Val-d’Or. As the corporate transitions from explorer to potential developer, the approaching months current a number of catalysts for a major valuation uplift.
Cartier initiatives within the Abitibi Greenstone Belt in Quebec
The Cadillac undertaking has advanced from a single mine undertaking into an rising gold camp with a number of deposits, superior useful resource modeling, and a transparent growth path. Positioned in a mining-friendly jurisdiction with present infrastructure, the Cadillac undertaking is ideally positioned to draw growth companions, strategic investments, or acquisition curiosity from senior producers.
In 2023, utilizing a gold worth of US$1,750, Cartier accomplished a preliminary financial evaluation (PEA) which confirmed the undertaking’s strong economics, with a manufacturing forecast of 116,900 ouncesyear over 9.7 years and a low AISC of US$755/oz.
With allowing pathways de-risked by historic mining exercise and intensive drilling already accomplished, Cartier has launched a completely funded 100,000-metre diamond drilling program. By combining AI and geostatistical reinterpretation strategies with conventional exploration strategies, the corporate is positioning itself on the forefront of recent mineral discovery.
The Cadillac undertaking has all of the hallmarks of a high-potential development-stage gold asset: grade, scale, jurisdiction, infrastructure, and strategic backing. Cartier can also be actively pursuing parallel value-creation alternatives, together with the reprocessing of legacy tailings on the Chimo website and monetization of non-core belongings like Wilson, Fenton and Benoist.
Firm Highlights
- District-Scale Gold Challenge: Cadillac: Cartier’s core asset consolidates the previous Chimo Mine and East Cadillac properties right into a district-scale land bundle on the prolific Larder Lake-Cadillac Fault — host to greater than 100 million ounces of historic gold manufacturing.
- Robust Challenge Economics: A 2023 PEA outlined compelling fundamentals, together with common annual manufacturing of 116,900 ounces over 9.7 years, a post-tax NPV of C$388 million, and an IRR of 20.8 p.c at US$1,750/ouncesgold.
- Aggressive Exploration Program: In 2025, Cartier launched a 100,000-meter drill program — one of many largest within the area — to develop its substantial gold assets and unlock Cadillac’s camp-scale potential.
- Innovation in Discovery: The corporate is leveraging AI-assisted mineral discovery instruments, in partnership with VRIFY, to sharpen drill focusing on and speed up new discoveries.
- Strategic Partnership with Agnico Eagle: Agnico Eagle, Cartier’s largest shareholder with a 28 p.c fairness stake, gives monetary energy and validates the corporate’s belongings and technique.
- ESG-Pleasant Tailings Reprocessing: Cartier has launched a low-capex initiative to judge reprocessing 600,000 tons of historic tailings, representing a possible near-term income stream with ESG advantages.
- Enticing Valuation With a clear share construction and a market cap of C$52.9 million, Cartier gives vital re-rating potential as exploration and growth catalysts unfold.
Key Tasks
Cadillac Challenge
The corporate’s flagship Cadillac undertaking is a consolidated land bundle totaling 11,525 hectares, positioned alongside a 15-kilometre strike of the Larder Lake–Cadillac Fault (LLCF) — one of the vital productive gold-bearing constructions in Canada. This fault zone has traditionally produced over 100 million ounces of gold throughout a number of camps. Cartier’s land bundle contains the past-producing Chimo Mine (379,012 ouncesgold from 1964 to 1997), West Nordeau, and a number of other new discovery zones over a 10-km strike size straddling the LLCF.
Cartier has accomplished 4 mineral useful resource estimates (MREs) between 2019 and 2022. The newest, revealed in Could 2023, outlined 7.1 million tons (Mt) @ 3.1 grams per ton (g/t) gold (720,000 oz) indicated and 18.5 Mt @ 2.8 g/t gold (1.63 Moz) inferred. The PEA evaluated an underground mining operation fed from three main zones (Chimo, East Chimo, West Nordeau), with a 2.9-year payback on a C$341 million capex. The PEA assumes a median head grade of three.0 g/t gold and annual manufacturing of 116,900 ouncesgold. Infrastructure benefits embrace an present shaft, energy line and permitted tailings facility.
Cartier Sources has commenced its totally funded 100,000-metre drill program on the Cadillac Challenge in Quebec, the biggest ever on the property. The 18-month marketing campaign is designed to each develop identified gold zones and take a look at new high-priority targets alongside the Cadillac Fault Zone. With $11 million in money and no debt, Cartier is properly positioned to advance Cadillac’s district-scale gold potential.
Chimo Tailings Challenge
As a part of Cartier’s sustainability-focused growth technique, the corporate is evaluating the potential for reprocessing roughly 600,000 tons of historic tailings deposited in the course of the Chimo Mine operations. This undertaking might unlock near-term, low-cost manufacturing with a minimal environmental footprint. Cartier will launch metallurgical characterization to evaluate gold restoration potential and financial viability. The undertaking advantages from proximity to a number of underutilized gold mills within the Val-d’Or area, probably enabling toll milling agreements.
Different Tasks: Wilson, Fenton and Benoist
Cartier additionally holds one hundred pc possession of three extra gold initiatives — Wilson, Fenton and Benoist — all positioned throughout the Abitibi Belt and every internet hosting historic gold mineralization or compliant assets. The Wilson Challenge (1,750 ha, three zones), Fenton (671 ha, 12 zones) and Benoist (3,086 ha, two zones) are at the moment obtainable for joint ventures or sale. These belongings provide vital exploration upside and optionality, permitting Cartier to stay centered on Cadillac whereas preserving long-term worth.
Administration Crew
Philippe Cloutier – Founder, President, CEO and Director
Philippe Cloutier is the founder and driving drive behind Cartier Sources. An expert geologist with over 35 years of expertise within the exploration and growth of valuable and base steel deposits, Cloutier has a deep technical understanding of the Abitibi Greenstone Belt, having spent most of his profession advancing initiatives on this prolific area.
Nancy Lacoursière – Chief Monetary Officer
Nancy Lacoursière brings over 20 years of expertise in company finance, accounting and strategic monetary administration. She has held CFO and senior finance positions throughout the pure assets and manufacturing sectors, with a powerful give attention to Quebec-based operations.
Ronan Déroff – VP of Exploration
Ronan Déroff is a senior exploration geologist and Cartier’s designated certified individual beneath NI 43-101. With over 15 years of expertise in mineral exploration, useful resource modeling, GIS and undertaking administration, Déroff leads the technical execution of Cartier’s exploration technique. He has overseen the event of a number of MREs and PEAs for the Cadillac undertaking, and performed a central function in integrating trendy knowledge evaluation and AI-assisted focusing on into the corporate’s workflow. He holds a Masters in operations and administration of mineral assets (EGERM), from the Université d’Orléans (France).
