Alexandre Boivin’s first deal on the public markets was based in Colombia and went from ten cents to thirteen bucks.
Anyone who has played slots knows, when you win a jackpot first time out, you’ve got a new hobby going forward, so Boivin showing up in Colombia again with Quimbaya Gold (QIM.C) is hardly a surprise.
What may be a surprise is just how ‘in’ to this deal Boivin is. In short, if you’re not going to buy the stock when it’s cheap, he’s going to.
Management owns a whopping 41.49% of the company, and Boivin isn’t stopping at the 38% he personally owns.
Meanwhile, he’s doing the work.
Quimbaya Gold Inc. has released the results of a rock sampling program conducted on the Tahami North project in Segovia, Colombia. These results include rock samples grading up to 5.86 grams per tonne gold and 133 g/t silver along a new two-kilometre trending vein system. The targeted veins trend to the northwest within the company’s claims. This represents a significant advancement in the understanding of the potential of these gold/silver vein systems at Tahami North.
Highlights:
- A total of 67 channel samples, 60 rock samples and five pan concentrates were collected during 2024 in the preliminary field exploration season on the property.
- Rock sampling confirms the occurrence of an interpreted trend of gold-silver veins demonstrating the promising potential within the company’s claims.
- The Salomon veins returned up to 3.31 g/t gold and 133 g/t Ag in channel sampling, pile rock samples up to 5.86 g/t gold and greater than 100 g/t silver, and pan concentrates up to 45.6 g/t gold and 4.26 g/t silver.
You know those mining shows on Discovery Channel where the hard bitten prosspector wanders about with a metal detector and a gold pan, and if they find a beep beep they bring in the dozer to plow a few channels in the dirt?
Where Quimbaya is on this project really isn’t far from that reality.
But the key difference is, if those reality show prospectors hit 3 grams, period, they lose their sunburnt minds.
And the Tahimi North isn’t Boivin’s only playground. He’s got the drills going in Tahimi South as well, next to the billion dollar Aris Mining’s (ARIS.T) Segovia operation.
If you don’t know, the Segovia is one of the highest grade gold mines in the world. Over half of Colombia’s gold production comes from this district.
Boivin’s got the right neighbourhood. His task right now is to connect the two Tahimi areas and show the resource is as big as he thinks it is.
“The company’s 2025 exploration program at Tahami North will focus on defining and expanding the Au-Ag mineralized vein system along a 4.4-kilometre potential mineralized trend.”
There are two other nearby projects on Quimbaya’s books but the focus is on the Tahimi end for now, and there’s 4kms of drilling loaded up for Q2. Meanwhile Aris will be spending $18m drilling next door.
If Boivin shows his ground is even half as good as Aris’ is, he’s a monster takeout target.
That’s all I’m saying right now, as the company isn’t a client, I just like the people involved and appreciate a mining explorer who largely funds himself. That’s conviction.
— CHRIS PARRY
FULL DISCLOSURE: Not a client, no corporate connections. But hey, we can dream.
