Dryden Gold Has Always Had a Clear Exit Strategy
CEO.CA Oct 6, 2026 8:36
Summary
CEO Trey Wasser says Dryden Gold's exit strategy is M&A, so district-scale exploration across 90,000 hectares complements its Gold Rock focus.
Grid sampling across the whole property showed high-grade gold, and drilling at Gold Rock has grown three known structures to 15.
A fresh intercept of 7.88 grams per tonne gold over 12.7 meters fills the strike gap between Jubilee and Pearl on the Elora structure.
Wasser argues gold holding above $4,000 despite rising real interest rates (inflation-adjusted — gold's usual headwind) signals institutional and central bank buying.
About 8 million 18-cent warrants from a 2024 raise form Dryden's last overhang, pressuring the stock as exercising holders sell.
Key points on Alamos Gold
- The CEO names Alamos as one of Dryden Gold's large shareholders and strategic partners and says it is very happy with the exploration approach.
- According to Wasser, Alamos has indicated Dryden does not need to keep drilling at Gold Rock because the outcome there is already understood.
Trey Wasser's takeaways
- Top takeaway Wasser argues that gold holding above $4,000 an ounce despite sharply rising real interest rates, normally the most negative driver for gold, points to institutional and central bank buying, possibly tied to the scale of the US deficit and debt.
- He stands by his June 2026 view that gold will not drop back below $3,000 an ounce and expects gold to take off again if real interest rates start coming down.
- He defends exploring beyond Gold Rock across Dryden's 90,000-hectare property, citing 2025 grid sampling on a 100 by 500 meter spacing that showed high-grade gold property-wide, with the in-house team focused on drilling while outside crews map and sample.
- He frames Dryden as an explorer with an M&A exit strategy rather than a developer, saying strategic partners and large shareholders such as Alamos and Sentara support the approach.
- He attributes Dryden's extra share-price pressure to holders exercising and selling roughly 8 million 18-cent warrants from a 2024 raise, and assumes silver will track gold while setting aside its supply-shortage story.