Patriot Gold Corp Due Diligence Report (Gold Royalty & Exploration Company)

All information below can be found at www.Sedar.com

Stock Ticker: PGOL - Same ticker for Canadian & US Exchanges
Price: $0.20 CDN & $0.14 USD
Common Shares: 74,319,957
Insider Holdings: 36,752,750 or 49.5% - See Annual Information
Company Website: www.patriotgoldcorp.com

Basic description: PGOL owns 3 royalties (1 producing) and 3 exploration properties. The producing Moss Mine has a 10 year life (started in 2018), which is currently being increased by Northern Vortex(NEE.V). The company clearly states in their most recent presentation that they want to ramp up production by 10 fold, which would mean multi million dollar royalties for Patriot Gold every quarter. NEE.V is also increasing it’s resource as we speak, so royalty payments will for sure exceed the 10 years - https://www.northernvertex.com/investors/presentations/

You can get free Level 2(Market Depth) for each exchange at the following websites:

Canada: https://www.thecse.com/en/listings/mining/patriot-gold-corp

USA: https://www.otcmarkets.com/stock/PGOL/quote#level-2

PGOL only started trading on the CSE at the end of summer 2020, so volume has been low, compared to the US side which trades daily and in large volume. But the Canadian side will catch up as time goes on and more profitable quarters are announced. To get an accurate market depth, you want to compare what’s shown on the US side and it translates to the Canadian side at roughly 1.30 exchange rate. The CSE might not show all those bids/asks because of the alternate trading systems.

Financials (Ending September 30th 2020) - All numbers are in US Dollars

ASSETS
Cash: $583,866
Marketable Securities: $224,554
Royalty Receivables: $1,159,856
Prepaid Expenses: $109,339
Long Term Assets: $300,000
Total Assets: $2,377,615

LIABILITIES
Accounts Payable: $171,852
Total Liabilities: $171,852

9 Month Revenue Performance
Royalty payments: $1,734,325
Net Income: $1,107,495
Earnings Per Share: $0.015 USD or $0.0193 CAD

Note: Patriot Gold has set a budget of $1,000,000 for it's G&A + exploration expenses in 2020

Royalty Interests

Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company has a 3% net smelter return royalty on the Moss Mine in Arizona. For the nine months ended September 30, 2020 and…

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