Carson Block of Muddy Waters Capital, known for short-selling, touts Snowline Gold as a takeover target at Sohn London Investment Conference. Snowline has a valuable gold deposit in Canada’s Yukon territory, with potential to attract major miners. Block predicts acquisition within 3 years, with potential valuation of C$4-6 billion.

Snowline Gold’s Rogue project has 8 million ounces of gold at 1.21 grams per ton in Valley deposit, appealing to major producers seeking reserves. Block believes Snowline’s stock, up tenfold since 2022, undervalues its potential. Stock rose 6% post-announcement. Block anticipates rising prices as acquisition nears.

Block expects Snowline to be acquired within 3 years, predicting a valuation of C$4-6 billion within 12 months. He emphasizes the strategic value of Snowline’s gold deposit in a consolidating mining industry. Stock surged more than tenfold since initial discovery. Carson Block appears on CNBC’s “The Exchange” with Jon Fortt.

Read more at CNBC: Muddy Waters Capital’s Carson Block makes rare long call in Canadian miner Snowline Gold