Kenorland Minerals Ltd. (KLD:TSXV)
Kenorland is a project generator with a significant project pipeline across North America and track record of grassroots discoveries. The Company has an excellent balance sheet and generates management fees on some of its projects, covering corporate expenses.
KLD’s main assets are a 4% NSR on the Frotet Project in Quebec and a 49% interest in the South Uchi Project in Ontario’s Red Lake District.
KLD’s partners spent $35.8M on exploration in 2025, and it solely spent $11.4M. This strategy provides investors with exposure to ~2.3M hectares of prospective land in largely under-explored regions.
Investment Summary
Kenorland is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. Kenorland’s exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships, including option to joint venture agreements. KLD holds a 4% net smelter return royalty on the Frotet Project in Quebec, which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by KLD and Sumitomo Metal Mining Canada Ltd. in 2020, which contains an Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold.
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