Legendary Investor Muddy Waters Is Making a Rare Bullish Bet on This Gold Stock. Should You Buy It Too?

Core Viewpoint - Activist short-seller Carson Block has taken a bullish position on Snowline Gold, believing it has made a significant discovery in the Yukon territory of Canada [1] Company Overview - Snowline Gold is a Vancouver-based gold exploration and development company focused on district-scale gold systems in the Selwyn Basin of Yukon Territory, Canada [3] - The company's flagship asset is the Rogue Project's Valley deposit, which has an estimated 8 million ounces of gold [2][3] Market Position and Performance - Snowline Gold has a market capitalization of $1.63 billion [4] - The stock has experienced significant growth, gaining 217% over the past 52 weeks and 82.2% over the past six months, with a recent 52-week high of $12.36 [5] - However, the stock is trading at a high valuation, with a price-to-book ratio of 17.37 compared to the industry average of 2.07 [6] Financial Activities - In August, Snowline announced a "bought deal" agreement to offer 8,888,900 common shares through Canaccord Genuity Corp. and BMO Capital Markets [7]