Erik Wetterling – Value Proposition In Goldsky Resources and Kirkland Lake Discoveries
The KE Report Feb 5, 2026
Summary
Goldsky is consolidating 100% of the Barsele gold project from Agnico Eagle, which is taking a 32.5% equity stake.
A new Riesberget target sits below Barsele on the priority list; the company presentation hints at mineralization widths up to 160m.
Goldsky shifts from exploration to development play — analyst estimates peg Barsele AISC (All-In Sustaining Cost) around $1,277/oz.
Kirkland Lake Discoveries adds the Mirado Gold Project — an inferred near-surface resource at 1.29 g/t — lifting the story on the Lassonde curve.
The Wolverine Bend target at KL West could become a flagship — syenite intrusions suggest intrusion-related gold mineralization.
Key points on Agnico Eagle Mines
- Agnico took a 32.5% equity stake in Goldsky as part of the Barsele deal, and Erik argues this preference for equity over cash signals a bullish long-term view on the asset
- Agnico operated the Barsele project for years and ran mostly maintenance drilling across it for the last six years, with only limited drilling in 2025 spread across seven targets
- Agnico had held the nearby Riesberget target, which is now folded into Goldsky as part of the transaction and has jumped up in priority in the latest Goldsky presentation
- With the 32.5% stake, Agnico is now Goldsky's far biggest shareholder, giving the junior a credible major backer as it pivots from pure exploration toward development
Erik Wetterling's takeaways
- Top takeaway Erik opens with a disclosure that he is biased long — he owns shares of both Goldsky and KLDC — which colors his enthusiasm for both names
- Erik frames Goldsky as a sleeper development story: tier-one Sweden, the largest gold miner in the world as biggest shareholder, and very little chatter on the forums despite rising trading volumes
- On KLDC, Erik argues Mirado shifts the name from potential growth to probable-plus-potential growth, moving it up the Lassonde curve from pre-discovery grassroots to post-discovery and turning the rest of the Abitibi land package into free optionality
- Erik is most excited about Riesberget inside the Goldsky story — the only non-Barsele target flagged for follow-up drilling, with widening mineralization in the latest presentation — and thinks it could become a satellite deposit feeding a future Barsele operation