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11/26/2017
Analysis
Updated: Sun Summit Minerals
San Marco Resources is a project generator focused in Mexico. They have three early exploration projects. Chunibas (1,200 acres) is drill ready. Oregano (175,000 acres) is still early exploration. 1068 (4,500 acres) is early exploration. There isn't much... more
11/26/2017
Analysis
Updated: Centamin Plc
Centamin Plc is a mid-tier producer in Egypt. They have a 50/50 JV with an Egyptian government agency for their large Sukari mine. They have a $2.1 billion FD market cap, so it isn’t a cheap stock. Sukari has a large resource of 13 million oz M&I. They... more
11/26/2017
Analysis
Updated: Mandalay Resources Corp
Mandalay Resources is a mid-tier gold producer (they also produce 2.2 million oz of silver) in Chile, Australia, and Sweden. They are not significantly undervalued, although they have 5 bagger potential at higher gold prices if they find more resources.... more
11/25/2017
Analysis
Updated: Orea Mining Corp
Columbus Gold is a project generator. They own 45% of the Montagne deposit in French Guyana (South America). It is a 5 million oz surface deposit at 1.4 gpt with exploration potential to increase in size. Their JV partner (Nordgold) has $1 billion in... more
11/25/2017
Analysis
Updated: Gold Bull Resources Corp
Black Sea Copper & Gold is a project generator focused in Eastern Europe near the Black Sea. They have several early exploration projects on 500,000 acres in Bulgaria and Serbia. They are targeting copper/gold deposits. Currently they do not have a... more
11/25/2017
Analysis
Updated: Doubleview Gold Corp
Doubleview Capital has a copper/gold discovery (Hat) in British Columbia. It's early exploration, but it looks like a small mine. Their goal is to produce a resource estimate and then a PEA. They also have an early exploration silver project (Metropolitan more
11/25/2017
Analysis
Updated: Victoria Gold Corp
Victoria Gold is bulding a large open pit project. Their Eagle Gold project looks excellent. It is a 6 million oz resource (.7 gpt) in Canada (Yukon). It is only a 70% recovery rate, so the actual resource is 4 million oz, which is still large.... more
11/25/2017
Analysis
Updated: Solitario Resources Corp
Solitario Exploration & Royalty sold their flagship Mt Hamilton project in 2015 for $24 million. They are left with cash and a small pipeline of 3 JV projects where they have a 30% share. Their JV projects do look pretty good. One is a large zinc project... more
11/25/2017
Analysis
Updated: Southern Silver Exploration Corp
Southern Silver Exploration is a project generator with a large silver/zinc discovery in Mexico. Cerro Las Minitas is a JV and they have a 40% interest. The deposit increased quickly in size. It went from a small deposit to 110 million oz silver... more
11/25/2017
Analysis
Updated: Sibanye-Stillwater
Sibanye-Stillwater (previously Sibanye Gold) is a new major in South Africa that was created by Gold Fields. It encompasses three producing underground gold mines that have 77 million oz in resources. They will produce 1.5 million oz in 2017. Plus, they... more
11/24/2017
Analysis
Updated: Alamos Gold Inc
Alamos Gold is large producer that has been on mission to become a major. They have acquired 4 companies in the past 4 years (including Aurico Gold and Carlisle Goldfields in 2015, plus Richmont Mines in 2017). They now have 23 million oz in resources... more
11/24/2017
Analysis
Updated: Wheaton Precious Metals Corp
Wheaton Precious Metals (previously) Silver Wheaton) is a large silver/gold royalty company. They have 20 producing silver and gold royalty properties with a fixed cash cost of around $4.50, and 8 projects in development. They have 1.6 billion ounces in... more
11/24/2017
Analysis
Updated: Cardinal Resources Ltd
Cardinal Resources is an Australian company that is advancing a large gold discovery in Ghana. Their Namdini project has 7 million oz (1.2 gpt) that is open in all directions. It has areas of high grade that they could mine first. They have $15 million... more
11/24/2017
Analysis
Updated: Radisson Mining
Radisson Mining has a small high grade gold project in Quebec. Their O'Brien project has 300,000 oz (6 gpt) and likely will double in size. They have an uneconomic PEA with an IRR of 5% at $1450 gold. That is terrible, but I think this project will get... more
11/24/2017
Analysis
Updated: Meadow Bay Gold Corp
Meadow Bay Gold is trying to build a small gold mine in Nevada. They purchased a past producing mine that had a 500,000 oz resource (1.2 gpt). Once they started drilling they found a porphyry extension off the main pit. One drill hole from 2011 was 105... more
11/23/2017
Analysis
Updated: Nexus Minerals Ltd
Nexus Minerals is advancing a small open pit gold project (Pinnacles) in Australia, which they own 85%. The resource is only 82,000 oz, but the capex should be very low because they have a JV partner with a nearby mill. If they produce 10,000 or 15,000... more
11/23/2017
Analysis
Updated: Bonterra Resources Inc
BonTerra Resources is a new project generator focusing in Quebec. They have 2 very good projects (Gladiator, Larder Lake) on 23,000 acres. They are currently focusing on Gladiator, which has 500,000 oz (5 gpt) and is growing in size. Drill results in... more
11/23/2017
Analysis
Updated: West Red Lake Gold Mines Inc
West Red Lake Gold Mines has three properties (7,500 acres) in a good location: the Red Lake district in Ontario, Canada. It is next door to Rubicon Minerals. They are drilling 3 projects on their Red Lake property: Mount Jamie, Rowan Lake, and Red... more
11/23/2017
Analysis
Updated: Triumph Gold Corp
Triumph Gold (formerly Northern Freegold) is project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 2.4 million oz resource (75% recovery) at .5 gpt (along with 10 million... more
11/23/2017
Analysis
Updated: Nevada Exploration Inc
Nevada Exploration is an early project generator focused in Nevada. They have 5 properties (12,000 acres) and 3 JVs that are being drilled. Nevada Exploration is using a unique method of testing water samples to identify potential gold deposits. They are... more
11/19/2017
Analysis
Updated: Riverside Resources Inc
Riverside Resources has a low market cap ($11 million fully diluted) and seems to be progressing as a company. They are an exploration company using the project generator model. They currently have 3 JVs, and will likely add more. I listened to an... more
11/19/2017
Analysis
Updated: Canasil Resources Inc
Canasil Resources is a project generator in Canada and Mexico. It was undervalued in 2015 with a $3 million FD market cap. Then the share price took off from drill results at their Sandra-Escobar JV project in Mexico and reach $20 millioin. Now it is... more
11/18/2017
Analysis
Updated: Mundoro Capital
Mundoro Capital is a new project generator with 8 properties in Mexico on 450,000 acres and another 8 properties in Serbia and Bulgaria. Their 4 properties in Serbia are a JV where their partner is drilling. All of their properties are early exploration.... more
11/18/2017
Analysis
Updated: Monarch Mining
Monarques Gold is a small producer in Canada, with the potential to become a mid-tier producer. The recently obtained a small producing mine (Beaufor), along with the Wasamac open pit project (2.5 million oz at 2.6 gpt) from Richmont Mines. They paid... more
11/18/2017
Analysis
Updated: DELETE - Galway Gold Inc
Galway Gold is a new project generator in Colombia. They were created from Galway Resources in 2012, when they were purchased by Aux Resources. They had a single project - the Vetas property. It was the past producing El Volcan mine. It has a 550,000... more
11/18/2017
Analysis
Updated: Empire Metals Ltd
Georgia Mining (previously Noricum Gold) is trying to become a small copper/gold producer in Georgia (Russian satellite country). They own 50% of the Bolnisi project which currently only has 2.2 million tons with .1 gpt gold (only about 10,000 oz). Long... more
11/13/2017
General
New SeekingAlpha Article: Top 10 Silver Producers
New SeekingAlpha Article: Top 10 Silver Producers
https://seekingalpha.com/article/4124420-top-10-silver-stocks?v=1510606445&comments=show more
11/12/2017
Analysis
Updated: Altamira Gold Corp
Altamira Gold (previously Equitas Resources) is trying to become a small gold producer in Brazil. They have a 500,000 (.8 gpt) deposit (Cajuiero) and were hoping to ramp up production to 30,000 oz annually. However, they lost their financing and the... more
11/12/2017
Analysis
Updated: Wesdome Gold Mines Ltd
Wesdome Gold Mines is an emerging mid-tier producer in Canadian with an FD market cap of $196 million. They recently stumbled a bit, with production decreasing in 2010 from 96,000 ounces to 55,000 in 2017. However, they have a decent pipeline going... more
11/11/2017
Analysis
Updated: Austral Gold Ltd
Austral Gold is a small gold producer in Chile (Casposo) and Argentina (Guanaco and Amancaya). They currently produce about 50,000 oz of gold equivalent (including silver), with plans to increase that to 70,000 oz in the near term. Currently their costs... more
11/11/2017
Analysis
Updated: Orezone Gold Corp
Orezone Gold has a late stage project in West Africa (Burkina Faso). Their first mine (Bombore) should begin production in 2019 (if it can be financed). It is a 4.5 million oz open pit deposit. They recently had another company analyze the deposit and it... more
11/11/2017
Analysis
Updated: Mcewen Mining Inc
McEwen Mining is a mid-tier gold and silver producer. In 2017, they will produce 100,000 oz of gold and 3 million oz of silver and (150,000 oz of gold equivalent). By 2020, they should be producing somewhere around 220,000 oz gold equivalent (including... more
11/05/2017
Analysis
Updated: Hummingbird Resources Ltd
Hummingbird Resources has two advanced open pit gold projects in West Africa (Mali and Liberia). It looks like a can't miss stock. They have 6.4 million oz at 2 gpt and another 150 targets on 1 million acres. The Yanfolila project (2.2 million oz at 2.5... more
11/05/2017
Analysis
Updated: DELETE - Azure Minerals Ltd
Azure Minerals is an Australian based exploration company focused in Mexico. They have a 49% JV with Teck Resources on their Alacran property (12,000 acres), who must spend $10 million to get 51%. Alacran is a potential mine with 32 million oz (84 gpt)... more
11/05/2017
Analysis
Updated: Engold Mines Ltd
Engold Mines has a copper/gold discovery in British Columbia. The La Hache property (45,000 acres) has had significant drilling and several holes with gold: 26 meters at 7 gpt, 12 meters at 4.5 gpt, and 172 meters at .8 gpt. It is still early exploration... more
11/05/2017
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
11/05/2017
Analysis
Updated: Yorbeau Resources
Yorbeau Resources is a project generator in Canada. They recently gave Kinross a 4 yr option to purchase their Rouyn project for $25 million, plus a 2% NSR. That will give them financing to explore their other projects. If Kinross backs out, they can... more
11/04/2017
Analysis
Updated: Hochschild Mining Plc
Hochschild Mining is a large silver/gold producer in South America. They will produce 37 million of silver equivalent (including gold) in 2018. All-in costs per oz are about $15 (silver equivalent). They currently have 4 operating mines in Peru and... more
11/04/2017
Analysis
Updated: Focus Minerals Ltd
Focus Minerals was a mid-tier producer in Australia, but they halted production in 2013 due to high cash costs. My guess is once gold passes $1400, they will resume production. They have two solid properties: Laverton (82%) and Coolgardie (100%). Both... more
11/04/2017
Analysis
Updated: Silver Storm Mining Ltd
Golden Tag Resources has a large 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). The silver equivalent is 200 million oz. A geologist thinks that it is... more
11/01/2017
General
October 2017 Newsletter Posted
The October 2017 newsletter has just been posted. more
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