News from November 2018

11/29/2018

Analysis

Updated: Silver Grail Resources Ltd

Silver Grail is a project generator. They have been around for a long time, but have not made any progress. Looking at their properties, I would say this a very high risk speculation stock. However, with a tiny $1 million market cap, they have two gold... more

11/28/2018

Analysis

Updated: Slam Exploration Ltd

Slam Exploration is a project generator focused in Canada with large land holdings in Ontario and New Brunswick. They recently hit a narrow but high grade massive sulphide intercept in their Portage project (5,000 Ha): 12% zinc, 12% lead and 133 g/t... more

11/28/2018

Analysis

Updated: Nevada Exploration Inc

Nevada Exploration is an early project generator focused in Nevada. They have 5 properties (30,000 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

11/27/2018

Analysis

Updated: Riverside Resources Inc

Riverside Resources is a project generator with a focus on gold exploration. They have a low market cap ($5 million fully diluted) and seem to be progressing as a company. They currently have 2 JVs, and will likely add more. I listened to an interview... more

11/27/2018

Analysis

Updated: Visible Gold Mines Inc

Visible Gold Mines has five early exploration projects in Quebec. They are a new company, with a good management team and a skilled geologist named Robert Sansfacon. In 2011, they drilled 40,000 meters and have spent $10 million on exploration with no... more

11/26/2018

Analysis

Updated: DELETE - Galway Gold Inc

Galway Gold is a 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 had a 550,000 deposit... more

11/26/2018

Analysis

Updated: DELETE - Westminster Resources Ltd.

Westminster Resources is a relatively new explorer. They recently acquired multiple copper projects in Peru while still holding their El Cobre, a 50,000 acres project characterized by high grade, gold-copper-silver veins. They were recommended by... more

11/25/2018

Analysis

Updated: Empire Metals Ltd

Georgia Mining (previously Noricum Gold) is trying to become a 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 term,... more

11/25/2018

Analysis

Updated: Kingsmen Resources Ltd

Tumi Resources has one silver project in Mexico. They have some upside potential with a FD market cap of $1.2 million. However, they have not made much progress the last few years. They are exploring with a small budget. They are not drilling for more... more

11/25/2018

Analysis

Updated: Wesdome Gold Mines Ltd

Wesdome Gold Mines is a mid-tier producer in Canadian with an FD market cap of $397 million. They recently stumbled a bit in 2016 and 2017, with production decreasing from 96,000 to 55,000 oz. However, they had an excellent 2018, with production coming... more

11/25/2018

Analysis

Updated: Mundoro Capital

Mundoro Capital is a new project generator focused in Eastern Europe. They have 8 properties in Serbia and Bulgaria. Their North and South Timok properties are optioned to JV partners (80% and 75%) who are drilling. All of their properties are early... more

11/24/2018

Analysis

Updated: Gateway Mining

Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Gidgee property (175,000 acres) has several discovered surface open pits that they are drilling. It looks like a mine in the... more

11/24/2018

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

11/24/2018

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 200,000 oz gold equivalent (including... more

11/24/2018

Analysis

Updated: Yorbeau Resources

Yorbeau Resources is a project generator in Canada. They recently gave IAMGold a 100% option to purchase their Rouyn project for about $25 million, plus a 2% NSR. That will give them financing to explore their other projects. It is a 700,000 oz deposit (6 more

11/24/2018

Analysis

Updated: DELETE - Azure Minerals Ltd

Azure Minerals is an Australian based exploration and development company focused in Mexico. They have a zinc/silver discovery (Oposura) that they are fast-tracking to production in 2021. They plan to release a PEA and pre-feasibility study in 2019. It's more

11/23/2018

Analysis

Added: Argent Minerals

Argent Minerals is trying to advance a low-grade silver project in Australia. Their Kempfield project is becoming advanced. It is a low-grade silver/gold project (40 million oz at 45 gpt AG), but it has lead and zinc offsets. It will likely be economic... more

11/23/2018

Analysis

Added: Thesis Gold Inc

Benchmark Metals is a new development company. They have a project (Lawyer) in the Golden Triangle (British Columbia) that they are developing. It's currently only 100,000 oz (4 gpt) but their target is 1 to 2 million oz. They plan to release an updated... more

11/23/2018

Analysis

Added: Rockfire Resources

Rockfire Resources is a London based exploration company. They have 3 projects in Australia and 1 in Papua New Guinea. Their Australian projects have had some drilling but no significant discovery yet. Most of their drill holes have been low grade. But... more

11/23/2018

Analysis

Added: Argent Minerals

Argent Minerals is a project generator focuses in Australia. They have three projects. Their Kempfield project is becoming advanced. It is a low-grade silver/gold project (50 million oz at 45 gpt AG), but it has lead and zinc offsets. It will likely be... more

11/23/2018

Analysis

Added: Adriatic Metals

Adriadic Metals is a new mining company focused in Bosnia. They have 3 properties and are trying to develop their Rupice project. It has had some excellent drill results, including 34 meters at 13% zinc, 455 gpt AG, and 3 gpt AU. They plan to issue a... more

11/23/2018

Analysis

Added: Bellevue Gold

Bellevue Gold is a project generator focused in Western Australia. They have a large high-grade discovery (Bellevue) and their share price has taken off. They have 1 million acres on 4 properties (Bellevue, south Yandal, Jundee North, and Fisher West).... more

11/22/2018

Analysis

Added: Gateway Mining

Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Gidgee property (175,000 acres) has several discovered surface open pits that they are drilling. It looks like a mine in the... more

11/22/2018

Analysis

Added: American Pacific Mining

American Pacific Mining is a new exploration company. They have 3 small projects in Nevada. They are focusing on Tuscarora, which is a potential high-grade discovery. They quite a few historic drill holes, but they are all narrow veins. It's a possible... more

11/22/2018

Analysis

Added: GR Silver Mining Ltd

Goldplay Exploration is a new company. They have 4 early exploration projects in Mexico. They are focusing on San Marcial (3,000 acres) that has a historic resource of 30 million oz's (AGEQ). They think it can double in size. They have some cash for... more

11/22/2018

Analysis

Added: Sunstone Metals

Sunstone Metals is an Australian-based project generator with gold projects in Ecuador and Finland. Both projects are early exploration. I think investors are excited about Bramaderos in Ecuador (7,500 acres). It appears to be a high-grade discovery.... more

11/22/2018

Analysis

Added: Sailfish Royalty Corp

Sailfish Royalty is a new company. They only have 5 NSR properties, but one of them begins paying out in 2021 at about $3 million per year. At higher gold prices, it could double in value. They have zero debt but are out of cash, so expect dilution.... more

11/22/2018

Analysis

Added: DELETE - Auxico Resources

Auxico Resources has a hybrid model. They are planning to produce base metals (Coltan) in Colombia. They are planning to do toll milling in Colombia. And they are exploring for gold and silver in Mexico. It's a strange combination for a company that is... more

11/22/2018

Analysis

Updated: Westhaven Gold

Westhaven Ventures is a project generator in Canada. They recently had a major discovery (42 meters at 9 gpt AU, 65 gpt AG) at Shovelnose. The stock has blasted off. They have 84,000 acres not that far from Vancouver. It has highway and power access.... more

11/21/2018

Analysis

Updated: Austral Gold Ltd

Austral Gold is a gold producer in Chile (Casposo) and Argentina (Guanaco and Amancaya). They currently produce about 80,000 oz of gold equivalent (including silver), with plans to increase that to 100,000 oz in the near term. Currently their costs are... more

11/20/2018

Analysis

Updated: Hochschild Mining Plc

Hochschild Mining is a large silver/gold producer in South America. They will produce 38 million of silver equivalent (including gold) in 2018. All-in costs per oz are about $13.50 (silver equivalent, including gold). They currently have 4 operating... more

11/19/2018

Analysis

Updated: Loncor Resources Inc

Loncor Resources is a new exploration company with 3.5 million acres in the DRC (Democratic Republic of Congo). When I looked at them in 2012, they had a FD market cap of $113 million. I thought that was bit pricey for a company without any resources.... more

11/18/2018

Analysis

Updated: Goldgroup Mining Inc

Goldgroup Mining is a small producer in Mexico. They had to sell their flagship Cabello Blanco project in 2014 because of financing issues. Now they are left with two small projects. Cerro Prieto is low-grade open pit project. They began mining in 2015... more

11/17/2018

Analysis

Updated: Spanish Mountain Gold Ltd

Spanish Mountain has a large (7 million oz at .45 gpt) open pit gold project in Canada (British Columbia). They recently updated their PEA, which reduced the capex to $400 million, decreased cash costs to $700 per oz ($550 for the first 10 years), and... more

11/17/2018

Analysis

Updated: Tinka Resources Ltd

Tinka Resources is a project generator with two significant projects in Peru. Their Ayawilca zinc/tin/silver project (35,000 acres) already has 2.5 billion lbs of zinc and is growing in size. They are currently cashed up and drilling aggressively and... more

11/17/2018

Analysis

Updated: Lion One Metals Ltd

Lion One Metals has an advanced high grade project in Fiji called Tuvatu (90,000 acres). It is a 800,000 oz (6 gpt) deposit that is fully permitted and financed ($40 million bank loan). The capex is $48 million with an after-tax IRR over 50% at $1300... more

11/17/2018

Analysis

Updated: Nicola Mining Inc

Nicola Mining (formerly Huldra Silver) was a small producer in Canada. They have a high grade (10 opt) deposit (Treasure Mountain) that could be a low cost mine (because of zinc and lead offsets). They started at 600,000 oz and could have been able to... more

11/17/2018

Analysis

Updated: Dolly Varden Silver Corp

Dolly Varden Silver is project generator in Canada. They have one exploration project. Their 22,000 acre Dolly Varden property in northern British Columbia has 4 past producing mines. These mines produced 20 million oz at 10 to 30 opt in the 1920s and... more

11/15/2018

Analysis

Updated: Horizon Gold Ltd

Horizon Gold is a new company (spin out from Panoramic Resources) in Australia. They have a 1.2 million oz (2 gpt) open pit project (Gum Creek) that looks excellent. The FD market cap is only $11 million, which is really cheap for their potential. They... more

11/14/2018

Analysis

Updated: Wiluna Mining

Blackham Resources is a gold producer in Australia. They are producing 80,000 oz with all-in costs around $1200 per oz. They have large resources around 6 million oz and have plans to expand production to 200,000 oz annually. The capex for the expansion... more

11/14/2018

Analysis

Updated: Galiano Gold Inc

Asanko Gold (formerly Keegan Resources) is a new mid-tier producer in West Africa (Ghana). Their 1.7 million oz Nkran open pit project is producing 220,000 oz at around $800 per oz cash costs. They lost money last quarter, will all-in costs around $1300.... more

11/12/2018

Analysis

Updated: Luca Mining

Telson Mining (formerly Telson Resources) is a zinc/gold/silver producer in Mexico. They acquired Campo Morado in 2017, which has a 2.2 million oz deposit (including silver). Production is at 35,000 oz (1.3 gpt) a year. Cash costs are unknown since they... more

11/11/2018

Analysis

Updated: Aton Resources Inc

Aton Resources (formerly Alexander Nubia International) has several early exploration projects in Egypt. They are a Canadian company with 175,000 acres of claims (24 mile trend with 14 target areas). They have a drill plan to do extensive drilling on two... more

11/11/2018

Analysis

Updated: DELETE - Rockcliff Metals Corp

Rockcliff Metals (previously Rockcliff Copper and Solvista Gold) is a project generator focused in Manitoba, with 100,000 acres. They have both gold and base metals (copper and zinc) projects. They have 4 high-grade early exploration projects: Laguna,... more

11/11/2018

Analysis

Updated: DELETE - Santa Fe Gold Corp.

Santa Fe Gold was a small producer in New Mexico (Summit mine), but they had to stop production due to low gold prices. Their website is lacking information and the declared bankruptcy in 2017 and lost all of their assets. I've tried to read their... more

11/11/2018

Analysis

Updated: Excellon Resources Inc

Excellon Resources is an emerging mid-tier silver producer in Mexico. They are producing about 2 million oz of silver equivalent (including base metals) with all-in costs around $20 per oz. That's not good, but they recently spent $10 million to double... more

11/11/2018

Analysis

Updated: Caledonia Mining Corp. Plc

Caledonia Mining is a small producer in Zimbabwe, Africa. Production is 50,000 oz and they get 64%. All-in costs (free cash flow) are about $1000 per oz. They have cash flow, $10 million in cash, and no debt. Plus, they have 18 properties to explore (200, more

11/10/2018

Analysis

Updated: Black Dragon Gold Corp

Black Dragon Gold (formerly Astur Resources) is a case study on the high risk of gold mining stocks. They had an economic project (Salave in Spain) and then their environmental mining permit was denied. The stock crashed from 47 cents to 1 cent. Now it... more

11/10/2018

Analysis

Updated: Kore Mining

Kore Mining (formerly Eureka Resources) is trying to develop 3 open pit mines, with a combined 5 million oz (.6 gpt). Investors are not interested, giving it a tiny $14 million FD valuation. The CEO is a CPA and has never built a mine. It appears that... more

11/10/2018

Analysis

Updated: SSR Mining Inc

SSR Mining (previously Silver Standard Resources) has become mostly a gold mining company. They purchased the Marigold mine in 2013 from Barrick Gold in Nevada. This was a good deal for SSRI. This will give them 200,000 oz of gold production for 20 years. more

11/10/2018

Analysis

Updated: Turaco Gold Ltd

Manas Resources is an Australian gold exploration company. They recently sold a project for $8 million and are cashed up. They are now exploring 3 large properties in Cote d'Ivorie. Mbenge (100,000 acres), Eburnea (80,000 acres), and Gonsan (250,000... more

11/10/2018

Analysis

Updated: Mexican Gold Mining

Mexican Gold (previously Source Exploration) has an interesting property in Mexico called Las Minas. It is on 4,000 acres and they have discovered 6 mineralized zones while drilling 14,000 meters. They think it could be a large mine. Early drill results... more

11/10/2018

Analysis

Updated: Aben Minerals Ltd

Aben Resources is an early project generator in Canada. The CEO has had success before, selling his last two companies. They have four gold projects and all are early exploration. In 2016, they obtained the Forrest Kerr (23,000 acres) property in the... more

11/09/2018

Analysis

Updated: Tristar Gold Inc

TriStar Gold has a potential large open pit project (CDS) in Brazil. It is on 70,000 acres and they think it has a 10-mile trend of mineralization. CDS is up to 2 million oz (1 gpt). It is mostly inferred, but is still early drilling. They have about $1.5 more

11/07/2018

Analysis

Updated: DELETE - Cassini Resources Ltd

Cassini Resources is a project generator focused in Australia. They have an advanced base metals project (West Musgrave) that has nickel and copper. It is a 30% JV. They also have an exciting gold exploration project (Mt Squires). It is a 30-mile trend (5 more

11/05/2018

Interview

New Podcast: www.miningstockeducation.com

http://www.miningstockeducation.com/2018/11/don-durrett-breaking-through-1375-oz-gold-will-signal-the-return-of-the-gold-bull-market/ more

11/05/2018

Analysis

Updated: Osisko Gold Royalties Ltd

Osisko Gold Royalties is focused mostly on gold royalties. They have about 20 producing royalties at about 80,000 oz per year. But they are growing and expect to reach 180,000 oz by 2023. Plus, they have 137 assets that should lead to more growth. Plus,... more

11/04/2018

Analysis

Updated: DELETE - Guyana Goldstrike Inc

Guyana Goldstrike is a project generator with a gold property in Guyana. Marudi (12,000 acres) has a 450,000 oz (2.5 gpt) deposit, and they are targeting 1 to 2 million oz. They do not have a company presentation and they appear to be making slow... more

11/04/2018

Analysis

Updated: VR Resources Ltd

VR Resources is a project generator focused in Nevada. They have 5 early exploration gold projects. They are drilling Bonita (8,000 acres), which is their largest project. All of the others are fairly small, ranging from 300 acres to 600 acres. They do... more

11/04/2018

Analysis

Updated: Amaroq Minerals Ltd

AEX Gold is an exploration company focused in Greenland. Nalunaq (5,000 acres) is a potential mine with 250,000 oz at 18 gpt. It was a past producing mine from 2004 to 2009, producing 350,000 oz. It seems to be their focus. They also have two other... more

11/04/2018

Analysis

Updated: Noble Mineral Exploration Inc

Noble Mineral Exploration is a project generator focused in Canada. They have two projects in Ontario. Project 81 (175,000 acres) is a potential nickel, gold discovery. They have 9 drill ready targets and a total of 500 targets to explore. It could be an... more

11/04/2018

Analysis

Updated: Contango Ore Inc

Contango Ore has a high-grade surface discovery (Tetlin) in Alaska. Drill results have been very good. One drill hole was 38 meters at 51 gpt, another was 58 meters at 14 gpt (both from near surface). They have already found 1.3 million oz of high-grade... more

11/04/2018

Analysis

Updated: Palamina Corp

Palamina Corp is a new project generator. They are focusing on Peru, with 5 early exploration projects (180,000 acres). They also have 3 projects in Mexico. It appears that there has been very little drilling on their properties. This is the same... more

11/03/2018

Analysis

Updated: Romios Gold Resources Inc

Romios Gold has a large property (180,000 acres) in the Golden Triangle near Novagold's large Galore Creek copper project. They are drilling two projects (Newmont Lake and Trek) and have had some success. They have discovered copper, gold, and silver. It... more

11/03/2018

Analysis

Updated: Emx Royalty Corp

EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 40 projects (about 10 JVs) in about 10 countries. With an FD market cap of $119 million and low cash flow, the upside is somewhat constrained without any large near-term... more

11/03/2018

Analysis

Updated: DELETE - Trilogy Metals Inc

Trilogy Metals (formerly Novacopper) has two large copper projects in Alaska. In 2017, they made a 50/50 JV deal with South32 Ltd for both projects. South32 has to spend $10 million annually the next 3 years, and then pay Trilogy another $150 million to... more

11/03/2018

Analysis

Updated: Eskay Mining Corp

Eskay Mining has 130,000 acres next to the large Seabridge Gold Kerr project in the Golden Triangle (British Columbia, Canada). They recently made a JV deal on a portion of the property (SIB / 12,000 acres) with SSR Mining, who has to spend $12 million... more

11/03/2018

Analysis

Updated: Greatland Gold Plc

Greatland Gold is a London based stock with 6 exploration properties in Australia. Both their Ernest Giles (65,000 acres) and Paterson (80,000 acres) properties are large, but have had very little exploration. They both have had a few drill holes and... more

11/02/2018

General

October 2018 Newsletter Posted

The October 2018 newsletter has just been posted. more

11/01/2018

Analysis

Updated: Monarch Mining

Monarques Gold is developing a large open pit project in Quebec. They acquired the Wasamac open pit project (2.5 million oz at 2.7 gpt) from Alamos Gold. They paid with 36 million shares. Investors seem to have ignored the acquisition, giving them an FD... more

News from November 2018

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