Founders Metals (TSXV: FDR) has doubled its share value to C$5.25, following significant gold drill results at the Antino project in Suriname. The company secured C$30 million in financing to advance exploration, with recent drill findings indicating high-grade gold deposits. BMO initiated coverage with a C$7.50 target, reflecting optimism about the project’s potential and growth prospects.
Founders Metals (TSXV: FDR) has experienced significant growth in share value following impressive results from its Antino gold project in Suriname. The Vancouver-based company has commenced 2025 strongly, announcing a C$30 million bought deal financing led by BMO Capital Markets to fund exploration efforts at Antino, aiming to enhance its gold reserves.
The company’s shares have doubled since mid-August, rising to approximately C$5.25 each, contributing to a market capitalization of C$465 million. Located 275 km south of Paramaribo, the Antino project is strategically situated near the Guiana Shield, home to existing gold mines operated by Newmont and Zijin Mining.
In late January, BMO initiated its coverage of Founders with an outperform rating and a target price of C$7.50, pointing to the high-margin gold discovery at Antino. Analyst Andrew Mikitchook highlighted notable drilling results from the Froyo zone, including an intercept of 38 meters at 10.9 grams per ton and 46 meters at 5.31 grams per ton gold.
Furthermore, early exploration in 2025 yielded results from channel sampling in the Van Gogh shear zone, which returned 17.8 meters of 5.68 grams gold per ton. The sampling has also indicated potential new gold trends near the primary Antino structure, leading the company to implement a fully-funded 60,000-meter drill program.
Founders ended 2024 on a positive note with significant financial backing, including a C$12.1 million investment from B2Gold and a C$20 million private placement arranged by BMO. The company also welcomed Chris Taylor, founder of Great Bear Resources, to its board, enhancing its leadership with expertise in gold discovery and operations.
In conclusion, Founders Metals is positioned for growth following robust exploration results at its Antino project in Suriname. With recent financing efforts, a strong market presence, and strategic leadership appointments, the company aims to advance its exploration goals and maximize gold production potential. The highlighted drilling results suggest a promising outlook for further discoveries and value creation for shareholders.
Original Source: www.mining.com
