Founders Metals Advances Antino Project with Strategic Financing and Strong Results

Founders Metals has initiated a $30-million financing to advance exploration at its Antino project in Suriname, following strong gold drill results. The company’s shares have doubled in value, attracting significant industry investment. BMO Capital Markets has started coverage with an optimistic rating, and the appointment of Chris Taylor to the board further strengthens Founders’ position in the gold sector.

Founders Metals has made significant progress with its Antino project in Suriname, marked by impressive gold drill results. As of early 2025, the Vancouver-based explorer has initiated a $30-million bought deal financing led by BMO Capital Markets, targeting further exploration of Antino. B2Gold has maintained its 5% interest in the company, contributing $2.57 million to the financing.

The market response has been favorable, with Founders’ shares doubling in value since mid-August to approximately $5.25, resulting in a market capitalization of $465 million. The Antino project, located in proximity to French Guiana, has a rich history of producing 500,000 ounces of artisanal gold and sits on the gold-rich Guiana Shield.

BMO recently commenced coverage of Founders, setting a target price of $7.50, reflecting a positive outlook based on conservative valuation estimates for Antino’s open-pit potential. BMO analyst Andrew Mikitchook highlighted the high-margin gold discovery, particularly citing remarkable results from the Froyo zone and the Donut target.

In January, Founders reported its initial gold discoveries for the year, featuring noteworthy channel sampling in the Van Gogh shear zone and substantial grab sampling results, indicating the development of a parallel gold trend. The company has initiated a comprehensive 60,000-meter drill program aimed at further exploration.

Furthermore, Founders has gained confidence from industry investments, including a substantial funding of $12.1 million from B2Gold and a $20 million private placement led by BMO. Notably, Chris Taylor, renowned for his role in Great Bear Resources’ success, has joined Founders’ board as an independent director, proceeding to position the company favorably in the industry.

In summary, Founders Metals has experienced notable success with its Antino project, highlighted by strong gold results and substantial financial backing. The company is actively advancing exploration efforts with the support of BMO Capital Markets and other industry players. Additionally, the recruitment of a seasoned industry veteran to its board underlines Founders’ commitment to growth and exploration in the competitive gold sector.

Original Source: northernminer.com