February 19th, 2026 | 07:00 CET
Gold stock set to MULTIPLY? Could Desert Gold outshine Barrick Mining, B2Gold, and others?
While the price of gold remains above USD 5,000 per troy ounce, one country is staging a spectacular comeback. After two years of negative headlines, the government appears to be reassessing its approach and is seeking renewed cooperation with gold companies. The West African country will remain strategically important in the future, not just for Barrick Mining and B2Gold. As a result, gold companies operating there are likely to see a stock market resurgence. Desert Gold clearly stands out as a potential outperformer, with its Mali activities currently barely reflected in the stock price. Analysts see potential for substantial gains.
time to read: 3 minutes
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Author:
Fabian Lorenz
ISIN:
DESERT GOLD VENTURES | CA25039N4084 , BARRICK MINING CORPORATION | CA06849F1080 , B2GOLD CORP. | CA11777Q2099
Table of contents:
Author
Fabian Lorenz
For more than twenty years, the Cologne native has been intensively involved with the stock market, both professionally and privately. He is particularly passionate about national and international small and micro caps.
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Mali is becoming a gold mine again
Is Mali currently offering investors in the gold sector a potentially historic opportunity? After a good two years of negative headlines about the new government of the West African country and its relations with foreign gold producers had caused great uncertainty, the investment traffic light now appears to be turning green again.
The situation in Mali has improved significantly in the meantime. The government has recognized how important the raw materials sector is for the country's finances and how important foreign expertise is. The relationship with Barrick Mining is a prime example of this. The gold and copper company regained operational control of the Loulo mine, and the license was extended for 10 years. All charges were dropped, and detained employees were released. In 2024, Loulo produced nearly 723,000 ounces of gold and generated around USD 900 million. At the current gold price, this is likely to be well over USD 1 billion.
B2Gold has no intention of turning its back on Mali either. Quite the contrary. After mining over 500,000 ounces in 2025, the gold company recently announced that it would continue to invest. Among other things, the Fekola underground mine is expected to make a significant contribution to production in the current year.
Both companies are therefore ramping up operations in Mali again. This is likely to give another stock a boost, whose large project in Mali is currently barely reflected in its share price. That stock is Desert Gold.
Desert Gold stock set to multiply?
The exploration company is currently valued at less than CAD 30 million on the stock market. The SMSZ project alone is likely to be worth significantly more. It currently has a gold resource of 1.1 million ounces. So far, only 5 of the more than 30 known gold zones have been included in the estimate. In August 2025, the first preliminary economic assessment (PEA) showed convincing results.
Even at a gold price of USD 3,000 per ounce, the project's internal rate of return (IRR) is 57%. The net present value (NPV 10%) after taxes is over USD 61 million. The current value is therefore likely to be significantly higher. And as mentioned, the PEA only covers part of SMSZ. It is therefore not surprising that analysts at GBC Research see the fair value of Desert Gold shares at CAD 0.43 and recommend buying the stock. The security is currently trading at CAD 0.09.
https://youtu.be/DV75l2h3XD4?si=AutKxeJIYHwATQXZ
Diversification with an exciting project
Desert Gold has used the period of uncertainty in Mali to diversify. Thanks to the acquisition of 90% of the Tiegba Gold project in Côte d'Ivoire, it now has two interesting deposits. In recent years, Côte d'Ivoire has developed into one of the most stable and investor-friendly mining regions in West Africa. Only 20% of the 297 km² concession area has been explored in detail so far. So there are likely to be additional discoveries that could drive the share price. The project is based on a gold-in-soil anomaly measuring 4.2 km long and 2.1 km wide. Historical samples from this area have yielded 50 to over 200 ppb gold. With the recent capital increase, which, incidentally, was increased due to high demand, the company now has the financial cushion to carry out further drilling.
Conclusion: Clear potential for multiplication and takeover candidate
Desert Gold has the potential to multiply in value and could thus become one of the big outperformers of the year. The project in Mali is currently virtually unpriced. At the same time, conditions in the country have improved significantly, as Barrick and B2Gold demonstrate. Both are also potential buyers of Desert Gold, as SMSZ already has the critical resource size of more than 1 million ounces.
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