Goldshore Resources Inc. (TSXV: GSHR; OTCQB: GSHRF ; FWB: 8X00) has expanded its environmental baseline programs at the 100%-owned Moss Gold Project in Ontario, Canada, in support of future permitting and development activities. The company's efforts include ongoing surface water sampling, groundwater modeling, biological studies, and geochemical testing — all aimed at assembling the data needed for regulatory submissions and project design.
Since 2021, Goldshore has maintained continuous water flow and quality monitoring across key streams and lakes. The dataset, which is approaching four years in duration, is intended to serve as a pre-mining environmental benchmark. In addition, the company has launched a drilling program to assess groundwater dynamics around the proposed open pit and infrastructure zones. The results will support the creation of a numerical groundwater model and inform water management strategies in a future Feasibility Study, with completion targeted for 2026.
The company has also conducted a seismic geophysics survey across the open pit area to develop a 3D model of glacial overburden. This model is expected in Q2 2025. Further surveys are planned over the tailings facility site. In parallel, Goldshore is conducting biological studies—ranging from fisheries and wetlands to mammals and waterfowl — which will continue through 2026 and be reported in early 2027. These studies will support discussions with Indigenous communities on potential offset agreements.
Geochemical characterization of waste and mineralized rock types is underway to evaluate acid generation potential. According to Goldshore, preliminary tests will run through the next three to four quarters. Historical material left on site since the 1980s, totaling about 50,000 tonnes, has not shown any signs of environmental degradation, according to the company.
Stage 2 archaeological field studies will begin in Q2 2025 in collaboration with Indigenous communities. A Stage 1 review conducted in 2021 identified no known archaeological sites.
CEO Michael Henrichsen noted in a company news release, "Recent provincial and federal discourse has emphasized the importance of streamlining approval processes for major projects . . . The company's ongoing environmental and geotechnical data collection will help ensure it is well-positioned to advance the Moss Gold Project responsibly and efficiently within the evolving political and regulatory landscape."
Goldshore has reported investing over US$60 million into the Moss Gold Project, which has seen approximately 235,000 meters of drilling in total. The company's updated 2024 mineral resource estimate includes 1.54 million ounces of Indicated gold at 1.23 grams per tonne (g/t) and 5.20 million ounces of Inferred gold at 1.11 g/t. This estimate is based on only 3.6 kilometers of a 35-kilometer mineralized trend and uses an assumed gold price of US$1,850 per ounce.
Gold Market Momentum Supports Elevated Price Levels
According to a March 26 post from Goldfix, both Goldman Sachs and Bank of America significantly raised their gold price forecasts. Bank of America projected that "gold could rally to US$3,500/oz if investment demand increases by 10%," while Goldman Sachs raised its year-end 2025 forecast to US$3,300 per ounce, expanding its target range to US$3,250–3,520. The analysis emphasized that gold was no longer simply a proxy for interest rates and currency movement but rather "unshackled" and now reflecting "actual global demand."
That same day, Barry Dawes of Martin Place Securities noted in a market update that gold was "moving quietly ahead and should soon start accelerating." He suggested the slow and steady rise differed from prior bull markets and reflected the early phase of a broader uptrend. Dawes also pointed to a shift in capital markets, saying, "The corporate action in the gold sector is showing that the capital markets are freeing up in the resources sector."
On March 27, Shad Marquitz of Excelsior Prosperity reported that the June gold futures contract had reached an intraday high of US$3,113.52 and closed at US$3,090.90, calling it "another all-time daily closing high." He observed that despite record gold prices and strong industry margins, equities such as those in the GDX index had not yet followed suit. "Gold is US$1,000 higher than that prior post-pandemic crash rally, and the industry margins are as fat as they've ever been," he wrote.
Also, on March 27, Egon von Greyerz argued in Bonfire of the Paper Asset Vanities & the Rebirth of Gold that gold's crossing of the US$3,000 threshold was not a plateau. "US$3,000 is certainly not a target – it is not even a price where gold will consolidate," he wrote. He pointed to long-term trends, noting, "The Dow has fallen 69% against gold in the last 25 years," and suggested that mainstream attention was finally turning toward gold after decades of underappreciation.
In his March 30 update, Technical Analyst Clive Maund analyzed long-term technical charts and noted that the gold mining ETF GDX had broken out of a multi-year Bowl or Cup formation. He described it as "the most positive action in the PM sector for many years," adding that gold itself had been "forging ahead in an orderly uptrend for over a year."
By April 1, gold had reached a new record of US$3,148.88 per ounce, according to Reuters. The article noted strong demand for traditional safe havens as investors awaited clarity on U.S. trade policy. "On top of general risk aversion, investors are increasing allocation to gold with the Trump administration's trade policy threatening the dollar's special reserve status," said Kyle Rodda, senior analyst at Capital.com.
Gold rose by 0.4% to US$3,125 per ounce, holding near the record high of US$3,148.88 reached the previous day, as investors shifted toward safe-haven assets ahead of U.S. President Donald Trump's expected tariff announcement. According to The Guardian on April 2, this climb occurred amid "a nervous dash to safe assets," with broader markets reacting to anticipated trade disruptions. The article noted that "global investors [were] cautious" and that equity markets, particularly in Europe, experienced declines, with pharmaceutical shares hit hardest due to concerns over new U.S. trade barriers.
Analyst Commentary on Project Scale and Share Positioning
*In a January 13 report, Technical Analyst Clive Maund described Goldshore Resources Inc.'s Moss Gold Project in Ontario as a large-scale gold asset with strong potential for district-wide development. He cited the project's access to major infrastructure—including highways and hydroelectric power—as strategic benefits supporting its advancement. Maund noted that the proposed high-grade starter pit was expected to generate early cash flow, helping to fund ongoing development. He also highlighted that the deposit remained open for expansion and that favorable metallurgical recoveries added to the project's long-term prospects.
Maund also addressed the company's equity structure and trading history. As of February 11, Goldshore had approximately 330.7 million shares outstanding, with over 56% held by insiders, management, institutions, and strategic investors. Specifically, retail investors accounted for 43.6% of the shareholder base, followed by strategic investors at 35%, institutions at 15%, and insiders and management holding 6.4%, according to company data. Maund viewed this concentration of ownership as a sign of aligned interests and long-term confidence in the company. Maund suggested this positioning, along with strengthening fundamentals in the broader gold sector, could offer further upside potential.
Upcoming Technical and Development Milestones at Moss Gold Project
Goldshore's April 2025 investor presentation outlines several near-term milestones that could shape the company's development trajectory. A preliminary economic assessment (PEA) is being prepared by G Mining and will incorporate ongoing technical work, including water modeling, resource updates, and economic trade-offs.
An active 15,000-meter drill campaign is focused on increasing resource density and extending mineralization within the top 200 meters of the conceptual open pit. Drilling targets include the Superion and QES zones, where recent intercepts such as 17.6 meters at 3.03 g/t Au (including 6.8 meters at 7.06 g/t Au) suggest near-surface expansion potential.
Infrastructure at the Moss site — including highway access, hydroelectric power at US$0.06/kWh, and proximity to rail and ports — positions it favorably compared to other projects in the region. The company reports that its strategic location and established local workforce could support district-scale development.
Streetwise Ownership Overview*
Goldshore Resources Inc. (TSXV: GSHR;OTCQB: GSHRF ;FWB: 8X00)
In terms of permitting, the company has engaged One-Eighty Consulting to lead a streamlined regulatory approach. This includes building a detailed consultation record with Indigenous communities, addressing fisheries offsets, and integrating feedback into project design. Two exploration agreements with Indigenous groups were signed in 2022.
With 91% of gold ounces located in the Moss Deposit, ongoing drilling and technical assessments are aimed at converting additional Inferred resources to Indicated status while reducing the strip ratio. The final payment to Wesdome Gold Mines Ltd.—12.5 million shares—will be triggered upon publishing a Feasibility Study or by June 4, 2025, whichever comes first. This milestone may mark the transition to the project's next phase of advancement.
Ownership and Share Structure
The company provided a breakdown of its ownership, where 6% of Goldshore is held by management and directors.
Institutions own approximately 20% of the company. Strategic shareholders own 25% and include Lutry Investments, Brian Paes Braga and members of the SAF Group.
The rest is with retail investors.
The company reports that there are around 338.3 million shares outstanding, while the company has a market cap of CA$111.7 million as of March 31, 2025. It trades in a 52-week range of CA$0.09 and CA$0.40.
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Important Disclosures:
- Goldshore Resources Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Goldshore Resources Inc.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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* Disclosure for the quote from the Clive Maund article published on January 13, 2025
- For the quoted article (published on January 13, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
- Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed
Clivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.
