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Update on P2 Gold, Gold Stock Looking to Break Out

The Gold Bull May 20, 2026

Summary

P2 Gold reports a high-grade intercept of 183 grams gold and 4% copper over 1.52 metres, expanding the Lucky Strike zone at Gabbs, Nevada.

Gabbs hosts 3.35 million gold-equivalent ounces; its preliminary economic assessment (PEA) shows a $943 million net present value and 33.8% internal rate of return.

Management built and sold BC's Brucejack underground gold mine for $3.5 billion — a proven track record behind P2's $213 million market cap.

The presenter — a shareholder — sees a resource update in Q3 and a Q4 feasibility study as catalysts for an undervalued stock poised to break out.

Key points on P2 Gold

  • The host spotlights the day's news at the Gabbs project in Nevada: Hole 21, a 100-meter step-out from the south, cut 183 g/t gold and 4% copper over 1.52 meters, expanding the Lucky Strike zone.
  • The host, who discloses he owns shares, argues the stock is undervalued at a market cap of about $213 million (at the time of the video) versus a PEA showing a $943 million net present value and a 33.8% IRR for Gabbs.
  • He points to upcoming catalysts he expects could move the stock: a resource update in Q3 and a feasibility study in Q4.
  • He credits P2 Gold's management as proven for building the Brucejack underground gold mine in BC and selling it for $3.5 billion, and says they are moving Gabbs along quickly.
  • The stock was up about 6.5% on the drilling news as of May 20, 2026, and the host believes it is consolidating after a big run-up into January and could break out to the upside in the near term.