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Tag: Fiore Gold Ltd.

Red Cloud | redcloudfs.com

Coverage Update – Discontinuing Coverage

February 4, 2022

As a result of the reallocation of resources, Red Cloud is discontinuing coverage on the following companies: Arianne Phosphate Inc. (TSXV:DAN) – now unrated (was BUY, C$1.50/sh target, Timothy Lee), Brixton Metals Corp. (TSXV:BBB) – now unrated (was BUY, C$0.50/sh target, Taylor Combaluzier), Fiore Gold Ltd. (TSXV:F) – now unrated (was BUY, C$2.50/sh target, Timothy Lee), Gold79 Mines Ltd. (TSXV:AUU) – now unrated (was BUY (S), Taylor Combaluzier), Great Panther Mining Ltd. (TSX:GPR) – now unrated (was BUY, C$1.40/sh target, Timothy Lee). Our previous estimates should no longer be relied upon.

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Red Cloud | redcloudfs.com

Fiore Gold Ltd. (TSXV:F) – Fiore to be Acquired by Calibre; Upside Intact

October 26, 2021

Fiore Gold announced a definitive agreement to be acquired by Calibre Mining (TSX:CXB, Not Rated), in a friendly deal that has been approved by the boards of both companies. In our view, this is a positive for Fiore shareholders, given the hefty premium and opportunity to be part of a growing, diversified producer. However, we believe that Fiore remains undervalued; coupled with the improving sentiment in the gold space, we would not be surprised if a superior offer ensued.

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Red Cloud | redcloudfs.com

Red Cloud Oktoberfest: Fall Mining Showcase 2021 – Day Two Recap

October 20, 2021

Yesterday, Red Cloud hosted the second day of its three-day 2021 Oktoberfest Fall Mining Showcase, which featured 28 presenting companies including our keynote speaker Matthew Watson, Founder and President of Precious Metals Commodity Management, and had over 1,000 participants registered in advance of the event. With this note, we want to provide a quick recap of the highlights from the conference for those who were unable to attend the live event (see our Day One recap here). If you would like to attend Day Three of Red Cloud’s Oktoberfest Fall Mining Showcase, register here. Replays are available on the Red Cloud website.

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Red Cloud | redcloudfs.com

Fiore Gold Ltd. (TSXV:F) – Record High Q3/21 Production at Pan; Gold Rock FS Pushed

October 13, 2021

Fiore Gold reported preliminary production results for the fiscal fourth quarter (Q4/21) ending September 30, 2021 from its 100%-owned, Pan open pit mine located in Nevada. We view these results positively, as this is the highest quarter of Au production released to date. With production continuing to grow in Q4/21 at Pan, and Feasibility Study work progressing at its 100%-owned Gold Rock project, we believe the company continues to advance its organic growth strategy. In our view, another healthy quarter of production for Fiore allows the company to meet annual production guidance in spite of some hiccups earlier this year. Although the company reported a lower-than-average grade of 0.41 g/t Au, there was a significant increase in tonnage mined and a lower strip ratio, resulting in an overall net positive result.

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Red Cloud | redcloudfs.com

Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased

October 13, 2021

Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.

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Red Cloud | redcloudfs.com

Fiore Gold Ltd. (TSXV:F) – Steady Production at Pan Yields Solid Q3/21 Financial Results

August 27, 2021

Fiore Gold reported Q3/21 financial results for the period ending June 30, 2021. The company had previously reported production numbers on July 12 for its Pan gold mine in Nevada. Net income was US$4.1M, or US$0.04/sh, in-line with consensus estimates. We believe that the market has yet to accurately reflect the fundamental value of Fiore, which continues to demonstrate operational effectiveness at Pan. Overall, the positive financial results reflect Fiore’s operational effectiveness at its Pan mine.

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