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04/30/2013
Analysis
Updated: Evolution Mining Ltd
Evolution Mining is a solid mid tier producer. They have five producing mines in Australia and will produce 385,000 oz in 2013. They have low cash costs ($600 per oz in 2012) and strong cash flow. They need to improve their balance sheet with $44 million... more
04/29/2013
Analysis
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 60 million oz resource of extremely high grade silver (350 gpt). And this property has very good exploration potential (18 mile corridor of... more
04/28/2013
General
Takeover Trend of Near Term Producers
I analyzed two stocks today - Oroco Resources and Cerro Resources - that continued a trend.
Both of these companies had very similar stories. They were both near term producers with very advanced projects. Once the projects were de-risked, larger companies came in and made offers.
Goldgroup mining bought the Oroco Resources project for $18 million in cash ($38 per oz M&I). But it has exploration potential, so they are paying much less. Shareholders had an easy 5 bagger if it went into... more
04/28/2013
Analysis
Updated: DELETE - Oroco Resource Corp.
Oroco Resources is another case study of why investing in gold mining stocks is so risky. They had an advanced project called Cerro Prieto that was on the verge of getting financed and developed into production. It was a 500,000 resource (M&I .7 gpt)... more
04/28/2013
Analysis
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 60 million oz resource of extremely high grade silver (350 gpt). And this property has very good exploration potential (18 mile corridor of... more
04/27/2013
Analysis
Updated: Majestic Gold Corp
Majestic Gold is an emerging mid-tier producer. They should reach full production of 105,000 oz (they get 75%) in about 18 months. Their Song Jiagou flagship project in China is a very low cost mine ($400 per oz) and will produce high cash flow of more... more
04/26/2013
General
Silver versus Gold Inventory
There is about 150,000 tons of gold above ground, and at least 5x that amount in silver. But those totals are irrelevant. What is relevant is what you can purchase.
About half of the gold total is in jewelry and artwork. The amount that is recycled and re-enters the market as bullion and coins on an annual basis is negligible for the total gold supply for sale.
So the gold inventory is about 75,000 tons (gold and bullion) and it is rising at very small rate of about 2,000 tons per year.... more
04/26/2013
Analysis
Updated: Majestic Gold Corp
Majestic Gold is an emerging mid-tier producer. They should reach full production of 105,000 oz (they get 75%) in about 18 months. Their Song Jiagou flagship project in China is a very low cost mine ($400 per oz) and will produce high cash flow of more... more
04/25/2013
Analysis
Updated: Mundoro Capital
Mundoro Capital is a new project generator with 9 properties in Mexico on 500,000 acres and another 8 properties in Serbia and Bulgaria. All of their properties are early exploration and they have significant plans to drill. They have $17 million in... more
04/20/2013
Analysis
Updated: Minnova Corp
Auriga Gold is a possible near-term producer. Auriga wants to begin production in 2013 of their Puffy Mine on their Maverick property (5,000 acres) in Manitoba. However, in their March 2013 MDA, they are looking for a JV partner or to sell the project.... more
04/20/2013
General
Auriga Gold Update
I originally issued a news release stating that this is a 5 rated stock, along with a youtube analysis (which I subsequently deleted). I have reduced their rating from 3.5 to 3. I was fooled by their company presentation, which implied they had a loan for $23 million and were proceeding with constructing mind and beginning production in 2013. However, this presentation was from October. Subsequently, in November they issued their last news release (that should have been a big red flag) that... more
04/19/2013
Analysis
Updated: Minnova Corp
Auriga Gold is a near term producer and extremely undervalued. In fact, it is the only stock that I currently have rated as a 5. Auriga is scheduled to begin production of their Puffy Mine on their Maverick property (5,000 acres) in Manitoba. It is only... more
04/14/2013
Analysis
Updated: St. Augustine Gold & Copper Ltd
St. Augustine Gold & Copper has a very large project in the Philippines. Even when reducing resources and future cash flow to represent their 60% ownership (and 80% recovery rate), this is a potential 20 bagger. They will receive potential cash flow of... more
04/13/2013
Analysis
Updated: Silver Predator Corp
Silver Predator Corp. is a new company, but they are already close to production. They are going to release a pre-feasibility study in Q4 2013 on their 100% owned Taylor mine. It is a 20 million oz (80 gpt) past producing surface mine. My guess is the... more
04/13/2013
Analysis
Updated: Silver Range Resources Ltd
Silver Range Resources is a new spinout from Strategic Metals. They are going to help Strategic Metals explore some of their properties. The first big project is Silver Range, a district size property (100,000 acres) with 24 known areas of silver... more
04/12/2013
Analysis
Updated: Robex Resources Inc
Robex Resources has an excellent property called Nampala (1.5 million oz at .7 gpt and growing). The problem is the location: Mali. Are investors going to invest in Mali when they have a major political situation in northern Mali, where the city of... more
04/10/2013
Analysis
Updated: Independence Gold Corp
Independence Gold is new project generator. They have 27 projects, which are all early exploration and only a few are being explored. It is too soon to invest, but it might be a company to watch. If the Yukon becomes a large mining district they might be... more
04/07/2013
Analysis
Updated: Orogen Royalties Inc
Evrim Resources is a new project generator. They obtained 8 early exploration projects in Mexico from Kiska Metals for a stake in the company. They have 3 JVs with Inmet and Valle, but they are early exploration copper projects. This is a new company... more
04/06/2013
Analysis
Updated: Spanish Mountain Gold Ltd
Spanish Mountain is highly undervalued. They are forecasting 200,000 ounces of production at their Canadian mine and they have a fully diluted market cap of $31 million. Their future reserves are valued at $6 per oz. Even if they give away half of the... more
04/06/2013
General
Thailand out of gold?
April 6th
Thailand runs out of gold! Could this be another domino falling after Cyprus? Last month it was a bank in the Netherlands (ABN Amro) that stopped delivering gold to their customers.
http://silverdoctors.com/dutch-bank-abn-amro-halts-physical-gold-delivery
http://silverdoctors.com/gold-run-there-is-not-one-single-ounce-of-gold-available-for-sale-in-bangkok/
Hi Doc,
I live in Thailand and 100% invested in PM.
Today when I walked by a Gold-shop here in Bangkok, there... more
04/06/2013
Analysis
Updated: Nicola Mining Inc
Huldra Silver is a small producer in Canada of approximately 600,000 oz. It is very high grade (10 opt) and very low cost (because of zinc and lead offsets). They should be able to ramp up to 1 million oz, and perhaps 1.5 million oz. But it is currently... more
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