News from July 2016

07/30/2016

Analysis

Updated: Sirios Resources Inc

Sirios Resources is a project generator with a focus on Quebec, Canada. They recently had a gold discovery with their Cheechoo project (17,000 acres). It has a 900 meter strike length at .4 gpt. That is low grade, but when gold prices rise it could be... more

07/30/2016

Analysis

Updated: Greencastle Resources Ltd

Greencastle Resources is a new project generator. They have 3 early exploration gold properties. Their main property is Nechako on 30,000 acres in British Columbia. They spun this property into a subsidiary called Deveron Resources. The own 65% with... more

07/30/2016

Analysis

Added: DELETE - Golden Share Resources Corp

Golden Share Mining is a project generator in Ontario, Canada. They have two early exploration projects: Berens River and Shebandowan. Both are past producing mines with historical resources (around 400,000 oz). One of these projects could easily become... more

07/29/2016

Analysis

Updated: CMC Metals Ltd

CMC Metals is trying to become a small silver producer. They have one advanced project in California (Radcliff). It is a small gold mine with only 225,000 oz (7 gpt). They have 50% ownership, and should have cash flow soon. PBI is the operator. It... more

07/29/2016

Analysis

Updated: CMC Metals Ltd

CMC Metals appears to be a project generator. They have one advanced project in Califoria (Radcliff), but it is a small gold mine with only 225,000 oz (7 gpt). They have 50% ownership, so they will have cash flow soon. PBI is the operator. It appears to... more

07/29/2016

Analysis

Added: Maritime Resources Corp

Maritime Resources has a past producing underground mine in Newfoundland (2000 to 2004). It is 2 to 3 years away from restarting production. They need permits and capex, although the amount is unknown. They recently raised $2.5 million and look like are... more

07/28/2016

Analysis

Added: Thor Explorations Ltd

Thor Exploration is close acquiring a gold project in Nigeria. The Segilola project is a 500,000 oz open pit deposit (3.8 gpt) with underground exploration potential. They are hoping to begin production in 2018 and completing a feasibility study next... more

07/28/2016

Analysis

Updated: MTB Metals

Mountain Boy Minerals is a project generator with 9 gold/silver projects in Canada (British Columbia). They have one advanced stage gold/silver project (Silver Coin), but they only own 20%. Silver Coin is a 1.6 million oz resource that is a JV with... more

07/28/2016

Analysis

Updated: Centerra Gold Inc

Centerra Gold is a large Canadian-based mid-tier producer in Kyrgyzstan and Mongolia. Their Kumtor mine in Kyrgyzstan has 8 million in P&P reserves and will produce 500,000 oz until 2023 (and maybe longer). Cash cost are around $700, making it a cash... more

07/27/2016

Analysis

Updated: Royal Gold Inc

Royal Gold is a royalty company based in the US. They have 37 producing properties and 22 under development, plus another 100+ in early or advanced stage exploration. They are growing production and are a growth company. They have a $5.7 billion market... more

07/27/2016

Analysis

Updated: Thunder Mountain Gold Inc

Thunder Mountain Gold is small project generator focused in the U.S. They are out of cash and will have trouble raising financing if gold prices remain low. Their South Mountain project in Idaho (25% equity interest) is a small past producing mine. Their... more

07/27/2016

Analysis

Updated: Augusta Gold Corp

Bullfrog Gold has a small open pit project in Nevada (Bullfrog). It is a 470,000 deposit at .8 gpt. It is on a property where Barrick Gold mined 2 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to permit. They do not have... more

07/27/2016

Analysis

Added: Entree Resources Ltd

Entree Gold is a project generator with two huge copper/gold projects. The Oyu Tolgoi project in Mongolia is one of the largest in the world, with 22 billion lbs of copper and 24 million oz of gold. It has an estimated mine life of 80 years. It is... more

07/26/2016

Analysis

Added: Vior Inc

Vior Inc (Societe D Exploration Mineire Vior) is a project generator in Quebec, Canada. They have 4 early exploration projects, plus 20 million shares of Aurvista Gold. They have $1.4 million in cash for exploration, so they have some potential. Those... more

07/26/2016

Analysis

Added: Nexus Gold Corp

Nexus Gold has an early exploration project (Walker Ridge) in Nevada. They have only drilled a few holes so it is still very early exploration. This is a very high risk speculation stock, but they are in a good location for a discovery. They plan to... more

07/26/2016

Analysis

Updated: Tristar Gold Inc

TriStar Gold has a potential large open pit project (CDS) in Brazil. It is on 200,000 acres and they think it has a 10 mile trend of mineralization. Management expects to find 2 to 4 million oz at 1.3 gpt. That is early speculation, but if they hit their... more

07/25/2016

Analysis

Updated: Elevation Gold Mining Corp

Northern Vertex Mining has an advanced project in Arizona called Moss. It is a 425,000 oz (gold equivalent, including silver) resource at .8 gpt. The feasibility study has excellent economics with only a $33 million capex. The IRR is 44% at $1300 gold.... more

07/25/2016

Analysis

Added: Zephyr Minerals Ltd

Zephyr Minerals is advancing a small high grade gold project (Dawson) in Colorado. It is currently only 150,000 oz, so they will need exploration success to extend the mine life. They are working on a PEA and hope to begin production in 2018. The capex... more

07/24/2016

Analysis

Updated: Radius Gold Inc

Radius Gold is a project generator with early exploration projects in Idaho, Mexico, and Guatemala. They sold their advanced projects for $20 million in 2012 and are now starting over. They do have a JV with Fortuna in Mexico (Tiacolula). Plus the have... more

07/24/2016

Analysis

Updated: Tristar Gold Inc

TriStar Gold has a potential large open pit project (CDS) in Brazil. It is on 200,000 acres and they think it has a 10 mile trend of mineralization. Management expects to find 2 to 4 million oz at 1.3 gpt. That is early speculation, but if they hit their... more

07/23/2016

Analysis

Updated: Scorpio Gold Corp

Scorpio Gold is a small producer in Nevada (production began in 2011). The have a FD market cap of $8 million and are a possible bagger long term at higher gold prices. Their problem is growth and limited resources (currently around 150,000 oz). They... more

07/23/2016

Analysis

Added: Middle Island Resources Ltd

Middle Island Resources recently obtained a past producing mine (Sandstone) for $2.5 million. They have no debt and enough cash to put it back into production. The resource is 500,000 oz at 1.4 gpt. They plan to do a PFS (pre-feasibility study) this year... more

07/23/2016

Analysis

Updated: Skeena Resources Ltd

Skeena Resources has 3 solid projects in the golden triangle in northern British Columbia. Investors have bid up their FD market cap to $48 million, even though they do not have a PEA on any of their projects. They appear to be a project generator. Their... more

07/22/2016

Analysis

Updated: Gold79 Mines Ltd

Aura Silver is small project generator, but they have two very large properties with significant potential. The 130,000 acre Taviche property is near Fortuna's high grade San Jose mine. They have already found significant high grade silver (initial... more

07/22/2016

Analysis

Updated: Benton Resources Inc

Benton Resources is a project generator with an advanced project in Newfoundland, Canada. It's a small (400,000 oz) high grade open pit and underground project. They recently completed a PEA and formed a 50% JV. The capex is high at $47 million, but it... more

07/22/2016

Analysis

Updated: AXMIN Inc

Axmin Inc. is highly undervalued at less than $2 per oz in the ground (future reserves) and a FD market cap of $3.5 million. They have a large 3 million oz (2 gpt) surface project in CAR (Central African Republic) called Passendro. The problem is that... more

07/21/2016

Analysis

Updated: Sabre Gold Mines Corp

Kerr Mines (formerly Armistice Resources) had two very good properties and they were producing 20,000 oz per year in 2013. However, low gold prices killed them. They got into debt and had to sell all of their valuable properties: Larder Lake, Kerr-Addison more

07/21/2016

Analysis

Updated: DELETE - Everton Resources Inc

Everton Resources is a project generator with several properties with potential (12 projects in the Dominican Republic). They have a FD market cap of only $3.5 million. They have a JV with Hecla Mining that looks promising. Their APV project (10,000... more

07/20/2016

Analysis

Updated: Silver Storm Mining Ltd

Golden Tag Resources has an excellent silver project (San Diego) in Mexico. It is a 110 million oz resource (2 opt) with significant offsets of lead and zinc (1 billion lbs of each) to make it a potential low cost mine. Plus, they are still drilling and... more

07/20/2016

Analysis

Added: Geopacific Resources Ltd

Geopacific Resources has an 80% option for a 2 million oz open pit project (Woodlark Island) in Papua New Guinea. They have to spend $18.5 million over 3.5 years to get the option. It is permitted and has a feasibility study, so basically they have... more

07/19/2016

Analysis

Updated: Amarc Resources Ltd

Amarc Resources appears to be a project generator (but they claim to be an exploration and development company). They have six properties in British Columbia that look promising. However, none of them are advanced and I would not expect any cash flow for... more

07/19/2016

Analysis

Updated: Heliostar Metals Ltd

Redstar is a project generator without an advanced stage project. However, they have 3 JV’s on their 13 properties and likely will add more JVs. Their fully diluted market cap is $21 million, so investors like their chances. It is a high risk... more

07/18/2016

Analysis

Added: Rupert Resources Ltd

Rupert Resources is trying to restart a gold mine in Finland. The stock has ran from 2 cents to 60 cents in 2016. However, most of the upside is now gone unless they are very successful with exploration. The property is large (30,000 acres) and has a few... more

07/18/2016

Analysis

Updated: Mawson Gold Limited

Mawson Resources is a new project generator focusing in Sweden and Finland. They do not yet have any JV deals, but they have a big project in Sweden called Rompas. They began initial drilling (4,000 meters) in 2012 and results were very promising: 5... more

07/17/2016

Analysis

Added: Minera Alamos Inc

Minera Alamos recently purchased an advanced gold project (La Fortuna). It is only a 300,000 oz deposit, but it is a good grade (2 gpt) open pit. They plan to release a PFS (pre-feasibility study) in 2016 and make a construction decision in early 2017.... more

07/17/2016

Analysis

Updated: Masivo Silver

Gainey Capital is a gold and silver mining company. They have a 300 tpd mill that is giving them cash flow in Mexico as a tolling operation. Plus, they have an interesting property of high grade silver. El Colomo is large (45,000 acres) and next to some... more

07/16/2016

Analysis

Updated: East Africa Metals Inc

East Africa Metals is a new project generator. They arose from a spin-out from Canaco Resources in 2012. They have four large properties in Tanzania and Ethopia. The Magambazi project (25,000 acres) is a 30% JV with a Chinese producer. It is a 1 million... more

07/16/2016

Analysis

Updated: Southern Arc Minerals Inc

Southern Arc Minerals is a project generator focused in Indonesia. They have had several successful discoveries but never seem to able to monetize them into shareholder value. It has been a nightmare stock for investors, falling from $20 to .54 cents (adj more

07/16/2016

Analysis

Added: Sterling Metals Corp

Latin American Minerals has an early exploration project (Paso Yobai) in Paraguay. They want to call it advanced exploration, because they have been working on it since 2012. However, it only has a few drill holes. They have discovered a vein that is... more

07/15/2016

Analysis

Updated: Asante Gold Corp

Asante Gold is a new company focused in Ghana, West Africa. They have an option to obtain 100% of the Kubi project (see terms below). They currently have 50% ownership, but must spend $15 million within 2 years to keep it. It is a 300,000 oz high grade... more

07/15/2016

Analysis

Updated: Aris Mining Corp

Gran Colombia Gold has big upside potential, but also big risk. They have large resources (12 million M&I gold) and are targeting 400,000 oz of production long term. They are currently producing about 120,000 oz with cash costs under $700 per oz and all-i more

07/14/2016

Analysis

Updated: Asante Gold Corp

Asante Gold is a new company with one property in Ghana, West Africa. They have an option to obtain 100% of the Kubi project. They currently have 50% ownership. It is a 300,000 oz high grade deposit on 12,000 acres with considerable exploration potential. more

07/13/2016

Analysis

Updated: Silver Predator Corp

Silver Predator Corp. is a new company focusing on Nevada. They have two advanced projects they are trying to JV. Their Taylor mine is a 20 million oz (60 gpt) silver resource on a past producing mine with a working mill. The capex should be low and I... more

07/13/2016

Analysis

Added: Westhaven Gold

Westhaven Ventures is a project generator in Canada. They have two large early exploration projects in British Columbia. Prospect Valley is a gold discovery with 150,000 oz. Shovelnose also appears to be a gold discovery, but needs to be drilled. They... more

07/11/2016

Analysis

Updated: Goldmining Inc

Brazil Resources is a relatively new company trying to build their first mine. They have a good management team with influential people on the board. Their stated focus is to acquire advanced stage projects and bring them into production. In 2012, they... more

07/11/2016

Analysis

Updated: Unigold Inc

Unigold Inc has a large gold discovery in the Dominican Republic. The Candelones project (50,000 acres) is approaching late stage development. They have already found 2 million oz at 1.5 gpt (inferred) and have 25 more targets. Plus, they have another... more

07/11/2016

Analysis

Updated: Granada Gold

Gold Bullion Development is a near term producer in Canada. It is undervalued with a FD market cap of only $32 million. The Granada property in Quebec is on 17,000 acres. It is a shallow surface mine (and a potential underground mine) with an estimated 3. more

07/11/2016

Analysis

Updated: DELETE - Chalice Mining

Chalice Gold is a small project generator based in Australia. They sold their Cameron project to First Mining Finance in 2016 for an 8% ownership in First Mining Finance. Now they are left with $35 million cash and now projects. They will likely buy a... more

07/11/2016

Analysis

Updated: Goldmining Inc

Brazil Resources is a relatively new company trying to build their first mine. They have a good management team with influential people on the board. Their stated focus is to acquire advanced stage projects and bring them into production. In 2012, they... more

07/10/2016

Analysis

Updated: Banyan Gold Corp

Banyan Gold is an interesting stock. They have a FD market cap of only $2 million and an open pit project in the Yukon. The Hyland Gold project is a 350,000 oz (.9 gpt) resource with silver offsets. This could be a 25+ bagger if they get into production... more

07/10/2016

Analysis

Updated: Freegold Ventures Ltd

Freegold Ventures has a large gold project in Alaska. The Golden Summit project (6.5 million oz at .6 gpt) is in a good location, only 20 miles from Fairbanks and 5 miles from a large Kinross surface mine. They have a FD market cap of $30 million, but... more

07/10/2016

Analysis

Updated: Granada Gold

Gold Bullion Development is a near term producer in Canada. It is undervalued with a FD market cap of only $32 million. The Granada property in Quebec is on 17,000 acres. It is a shallow surface mine (and a potential underground mine) with an estimated 3. more

07/08/2016

Analysis

Updated: First Majestic Silver Corp

First Majestic Silver is a large silver producer in Mexico. They have 6 producing mines at 12.5 million oz of silver with 100 million oz of reserves and 300 million oz of resources. Their production total is expected to reach 18 million oz by 2021. They... more

07/08/2016

Analysis

Updated: B2Gold Corp

B2Gold is an emerging major with 6 producing mines in Nicaragua, Colombia, Philippines, Namibia, Burkina Faso, and Mali. Production is scheduled to increase from 500,000 oz in 2016 to 800,000 oz by 2018. They have low cash costs at $650 per oz. These low... more

07/07/2016

Analysis

Updated: SSR Mining Inc

Silver Standard Resources (SSRI) has significant potential. They have 800 million oz of silver resources and 8 million oz of gold. Plus, they have 1 million acres of exploration land. Production should steadily rise. Currently, the Pirquitas mine in... more

07/07/2016

Analysis

Updated: Vista Gold Corp

Vista Gold has a large project in Australia called Mt Todd (8 million oz at .8 gpt, but only 72% recovery rate) with huge upside potential. One red flag is they might not be able to finance the capex, which is projected to be over $500 million. Another... more

07/06/2016

Analysis

Updated: Gowest Gold Ltd

Gowest Gold is advancing to production in Canada. They only have one project (North Timmins), but it is large (27,000 acres) and has 17 targets. Plus, the Bradshaw deposit is a 1.2 million oz (4 gpt) resource that looks like a sure thing. It is a high... more

07/05/2016

Analysis

Added: DELETE - Malachite Resources Ltd

Malachite Resources has a small high grade gold project (Lorena) in Australia. They only have 50% ownership which limits their upside potential. The project appears to be permitted and near production. Their company presentation is from 2014, so I don't... more

07/03/2016

Analysis

Added: Warriedar Resources Ltd

Anova Metals in an Australian company with a gold project in Nevada. Currently the stock is only trading in Australia. Their Big Springs project is currently a 1 million oz deposit at 2 gpt. It is both an open pit and underground project with higher... more

07/01/2016

General

June 2016 Newsletter Posted

The June 2016 newsletter has just been posted. If you're set to receive a notification via email, it will be arriving shortly. more

07/01/2016

Analysis

Added: Quebec Precious Metals Corp

Canada Strategic Metals has a gold discovery in Quebec. It is still early exploration and the size of the discovery is unknown. They are out of cash and will need to dilute soon to continue drilling. The Sakami-Apple project (70% ownership) is in a good... more

07/01/2016

Analysis

Updated: Ten Sixty Four Ltd

Medusa Mining is a mid-tier producer in the Philippines. They plan to produce about 120,000 oz in 2016 (Co-O mine). With low cash costs around $500 per oz and all-in costs (free cash flow) under $1000, that creates an opportunity for significant cash... more

News from July 2016

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