1. Limited portfolio: Kestrel Gold Inc has a limited portfolio of projects compared to its peers, which may limit its growth potential.

2. Lack of diversification: The company's focus on gold exploration and development may make it vulnerable to fluctuations in the gold market.

3. Limited financial resources: Kestrel Gold Inc has a relatively small market capitalization and limited financial resources, which may make it difficult to compete with larger peers.

4. Lack of production: The company does not currently have any producing mines, which may limit its ability to generate revenue and cash flow.

5. Limited geographic presence: Kestrel Gold Inc's projects are primarily located in Canada, which may limit its exposure to other potentially lucrative mining regions.

6. Reliance on exploration success: The company's success is largely dependent on its ability to identify and develop new mineral deposits, which can be a risky and uncertain process.

7. Limited track record: Kestrel Gold Inc is a relatively new company with a limited track record, which may make it less attractive to investors compared to more established peers.