“We’re definitely betting on ourselves here": Why 2025 Could be the Year for Tocvan Ventures

Tocvan Venture (TOC.CN) remains one of my top picks. It’s a tightly-held and smartly-managed gold explorer/developer operating its Gran Pilar flagship project in the world-class mining district of Sonora, Mexico. Sonora is among the cheapest places in the world to both explore and produce gold. Tocvan is working to defy the typical junior exploreco model tbat relies on M&A to produce a happy ending. Rather than relying on a buyer, given the remarkably low economic hurdles that are to be found in Sonora as an at-surface heap leach project, CEO Brodie Sutherland is preparing for Tocvan to bring Gran Pilar to production themselves. In pursuit of this, Tocvan is months away from initiating a 50,000 tonne bulk sample heap leach. This pilot-stage mining will be conducted on site and will provide critical insight into overall grade as well as opportunities to fine-tune processing and recovery methods. The data this bulk sample will provide will go a long way in confirming and establishing the potential of Gran Pilar With a MRE and PEA also expected to follow roughly by the end of the year, Tocvan is approaching a potential inflection point. Indeed, if they execute successfully in 2025, Tocvan’s potential both as an explorer (drilling outside Pilar Main for the first time ever) producer (recovery rates, head grade, final concentrate characteristics, etc.) will have been both confirmed and expanded in critical ways. This could get exciting.

Time Stamps

03:00 2024 Review and 2025 Preview

07:00 Ongoing Drill Program

18:00 Initial Mineral Resource Estimate & PEA

30:00 Pilot Test Mine, Catalysts, and Goals

40:00 Final Thoughts & Outlook for 2025

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