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02/29/2020
Analysis
Updated: Masivo Silver
Gainey Capital is an exploration company with two projects in Mexico. Their main focus is Las Margaritas project (optioned from First Nining Gold in 2018, they have three more annual paymetns of ~$250,000 each left). Trenching program found high grade... more
02/29/2020
Analysis
Updated: DELETE - Petropavlovsk Plc
Petropavlovsk PLC is a mid-tier gold producer in Russia. They have 20 million oz of gold resources and will produce 600,000 oz with cash costs around $800 per oz in 2020. They have a poor balance sheet with $600 million in debt and only $33 million in... more
02/29/2020
Analysis
Updated: Kinross Gold Corp
Kinross Gold is a major with 2.4 million oz of gold equivalent production. Their all-in costs for 2020 are projected to be around $1150 (gold equivalent cash costs per oz around $750). In 2017, when gold prices averaged about $1300 and their cash costs... more
02/28/2020
Analysis
Updated: Fortune Minerals Ltd
Fortune Minerals has a shovel-ready gold/copper/cobalt/bismuth project in Canada (Northwest Territories). The problem is the high capex ($437 million). No one wants to take a chance on it today. The mine life is 21 to 24 years at 40,000 oz of annual gold... more
02/27/2020
Analysis
Updated: Northern Dynasty Minerals Ltd
Northern Dynasty is advancing the Pebble project in Alaska. Over $750 million has been spent. Pebble has 80 billion lbs (4%) of copper, 75 million oz (.4 gpt) of gold, and 500 million oz (1.5 gpt) of silver. Pebble is the largest undeveloped gold mine in... more
02/27/2020
Analysis
Updated: Allegiant Gold
Allegiant Gold (spinout from Columbus Gold) is a project generator focused in Nevada and Arizona. They have 10 projects, with most of them drill-ready that they plan to drill. They have one discovery (Eastside). It is a 1 million oz (.6 gpt) open pit... more
02/27/2020
Analysis
Updated: Almaden Minerals Ltd
Almaden Minerals is trying to develop their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce 80,000 oz (.6... more
02/26/2020
Analysis
Updated: DELETE - Andromeda Metals Ltd
Andromeda Metals is a project generator focused in Australia. They have 5 projects on large land holdings (1.5 million acres). They have 2 JVs (Drummond and Wudina) with a 25% interest. They also recently obtained some projects in the Pilbara region in... more
02/25/2020
Analysis
Updated: STLLR Gold
Moneta Porcupine has an excellent project (Golden Hwy) in Ontario, Canada. Originally, they were focusing on a 4 million oz resources. They did a PEA to produce 288,000 oz annually with a $600 million capex. Now they are focusing on a 1.7 million oz... more
02/25/2020
Analysis
Updated: New Gold Inc
New Gold is a mid-tier producer that has been struggling. They were producing 550,000 oz (gold equivalent) in 2017 and everything looked good. Today their production is down to 370,000 oz. Their costs exploded in 2019 and they lost money. The big jump in... more
02/24/2020
Analysis
Updated: Nulegacy Gold Corp
NuLegacy Gold has an early exploration project in Nevada (Iceberg and Avocado deposits on their Red Hill Property). It is nearby Barrick Gold’s 14 million oz Goldrush open pit deposit. It could be another large open pit. The early drill results have... more
02/24/2020
Analysis
Updated: Westgold Resources Ltd
Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 10 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 4 producing mines.... more
02/24/2020
Analysis
Updated: Gold Springs Resources
Gold Springs Resources (formerly TriMetals Mining and South American Silver) has been a painful fall for their investors. It has fallen from $3.25 a share in 2010 to today’s price of 10 cents. Ouch. Today it has an FD market cap of $25 million. This... more
02/23/2020
Analysis
Updated: Aurania Resources Ltd
Aurania Resources is a new company with an early exploration project in Ecuador called the Lost Cities / Cutucu project. It is a large property with 500,000 acres. In 2017 and 2018 they collected soil samples and looked for drilling targets. They began... more
02/23/2020
Analysis
Updated: Bravada Gold Corp
Bravada Gold is an exploration company focused on Nevada. They have 11 Properties on 23,000 acres. The company was a spin-out from Bravo Gold and is a relatively new project generator. Their best property is Wind Mountain, a past producing open pit... more
02/22/2020
Analysis
Updated: Eloro Resources Ltd
Eloro Resources is a project generator focused in Peru. They have a potential large gold discovery at La Victoria (22,000 acres). Early drill results have been impressive. The share price exploded in 2016 and 2017, but it has crashed back to 23 cents. It... more
02/22/2020
Analysis
Updated: DELETE - Cache Exploration Inc.
Cache Exploration is a small project generator in Canada. They have a gold discovery (Kiyuk Lake) in Nunavut on 75,000 acres and a cobalt property (Deep Lake). There has been 60 holes drilled in Kiyuk and they have found four zones with mineralization.... more
02/22/2020
Analysis
Updated: Regis Resources Ltd
Regis Resources is a large Australian gold producer. It was a fantastic investment in 2008, when they traded for 10 cents. It increased to $6 in 2012, but is now back to $2.99 with a $1.5 billion FD market cap. Cash costs are around $650 per oz, plus... more
02/22/2020
Analysis
Updated: Gold Resource Corp
Gold Resource Corp is an emerging mid-tier producer. They are often referred by their trading symbol GORO. After they went into production in 2011, their share price rocketed to $30 a share. However, it came all the way back, trading at $1.91 in early... more
02/21/2020
Analysis
Updated: DELETE - Solidcore Resources
Polymetal International is a major with both large gold and silver production in Russia. They have 24 million oz of gold resources and 340 million oz of silver resources. They are producing 900,000 oz of gold and 29 million oz of silver. Gold equivalent... more
02/21/2020
Analysis
Updated: Metals Exploration Plc
Metals Exploration is a small gold producer in the Philippines. Their Runruno project has 1.4 million oz (1.7 gpt). They plan to produce 75,000 oz for 10 years. The bad news is that the Philippines has been rethinking their mining industry, even... more
02/20/2020
Analysis
Updated: Precipitate Gold Corp
Precipitate Gold is a new company started in 2012. They have a small market cap of $13 million and some interesting properties in the Dominican Republic, Mexico, and Canada. This is a high-risk speculation stock. However, it was founded by the Coffin... more
02/20/2020
Analysis
Updated: Ramelius Resources Ltd
Ramelius Resources is a mid-tier producer in Australia. They are producing 200,000 oz with low all-in costs (free cash flow) under $1100 per oz. They have an FD market cap of $550, which would be undervalued for a 200,000 oz producer with low cash costs,... more
02/20/2020
Analysis
Updated: Torq Resources Inc
Torq Resources (formerly Stratton Resources) is a small project generator. They recently let go of their three properties (Newfoundland and Utah) and are looking for a new property. They have an experienced team with a good track record. They have cash... more
02/19/2020
Analysis
Updated: West Vault Mining Inc
West Kirkland Mining purchased the Hasbrouck and Three Hills properties from Allied Nevada in 2014 for $20 million. They diluted their shares substantially to buy the properties. They have a pre-feasibility study to build both for a capex of $47 million.... more
02/18/2020
Analysis
Updated: Erdene Resource Development Corp
Erdene Resource Development is an early player in Mongolia, a country with a significant amount of natural resources. They have two projects that should make it into production soon. Bayan Khundii is headed to gold production in 2021. They released a... more
02/18/2020
Analysis
Updated: DELETE - Troy Resources Ltd
Troy Resources is a small gold producer. They have a good project in Guyana. Karouni has a 1 million oz (2.3 gpt) open pit resource. Production began in 2015 and was supposed to ramp up to 90,000 oz. However, they have had problems accessing the high... more
02/14/2020
Analysis
Updated: Gungnir Resources Inc
Gungnir Resources is a Canadian exploration company with a project in Sweden. Their Knaften property is on 18,000 acres in a good location. Early drill results (86 holes) have found a discovery (10 meters at 3.4 gpt), and more recent drilling kept... more
02/14/2020
Analysis
Updated: Latin Metals Inc
Latin Metals (previously Centenera Mining) is a project generator focused in Argentina. They are exploring 4 projects, all of which are early exploration. They wait for results from Yamana Gold exploration program that started on the Organullo project at... more
02/13/2020
Analysis
Updated: Trifecta Gold Ltd
Trifecta Gold is a project generator focused in the Yukon. They were created in 2017 from a spinout of 4 properties by Strategic Metals. All of the properties are early exploration and have not been drilled.
They are currently in a rebuilding process... more
02/12/2020
Analysis
Updated: Inca One Gold Corp
Inca One Gold is a toll miner in Peru. They process gold ore from other companies for a profit. They have a plan to grow from 250 tpd to 450 tpd - if they can sign enough contracts with gold producers. They focus on revenue in their company presentation... more
02/12/2020
General
New SeekingAlpha: Ascot Resources
https://seekingalpha.com/article/4323500-ascot-resources-exciting-gold-development-story more
02/11/2020
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. Plus, they will produce 1.5 million oz of platinum... more
02/10/2020
Analysis
Updated: Ascot Resources Ltd
Ascot Resources has a large gold project in Canada (British Columbia). Their Premier project is a gold and silver surface mine. It is a 4 million oz gold resource (.7 gpt), plus 38 million oz of silver (4 gpt). However, recent drill results (572 meters... more
02/10/2020
Analysis
Updated: Northern Superior Resources Inc
Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (30,000 acres) and Lac Surprise (35,000) are their focus. Croteau is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears... more
02/09/2020
Analysis
Updated: Landore Resources Ltd
Landore Resources is advancing a gold project in Canada. Junior Lake (Bam project) is a recent discovery that has grown into a 1 million oz open pit deposit (1 gpt). They released a PEA in 2019. The capex is $93 million to produce about 80,000 oz... more
02/09/2020
Analysis
Updated: Peloton Minerals Corp
Peloton Minerals is an exploration company currently focused in Nevada. They have three gold projects (Golden Trail, Independence Valley, and Texas Canyon) that could be discoveries. All are small properties (about 1,000 acres each). They have gold at... more
02/09/2020
Analysis
Updated: Landore Resources Ltd
Landore Resources is advancing a gold project in Canada. Junior Lake (Bam project) is a recent discovery that has grown into a 1 million oz surface deposit (1 gpt). They released a PEA in 2019. The capex is $93 million to produce about 80,000 oz annually... more
02/08/2020
Analysis
Updated: Galway Metals Inc
Galway Metals is advancing two projects in Canada. Their Clarence Stream gold project (600,000 oz at 2 gpt) could easily become a mine. It's on a large property (150,000 acres) in New Brunswick with significant exploration potential.
Their other... more
02/07/2020
Analysis
Updated: Orvana Minerals Corp
Orvana Minerals is an emerging mid-tier producer. Their 1 million oz (4 gpt) property in Spain (EVBC) began production in 2012 for a long-life mine. Currently they are only producing 65,000 oz at EVBC, but that could increase over time. It has high costs... more
02/07/2020
Analysis
Updated: DELETE - Rainy Mountain Royalty Corp
Rainy Mountain Royalty is a project generator focused in Ontario, Canada. They have 6 properties, but many of them are base metals. Two of their properties are early exploration gold projects (Brunswick and Powell). Both need to be drilled.
They do... more
02/06/2020
Analysis
Updated: NexGold Mining Corp
Treasury Metals has an advanced gold project (Goliath) in Ontario, Canada. It is an open pit (800,000 oz at 2.5 gpt) and underground (700,000 oz) mine. The PEA was updated in 2017 for a capex of $100 million to build the open pit and mill. It will... more
02/05/2020
Analysis
Updated: Ascot Resources Ltd
Ascot Resources has a large gold project in Canada (British Columbia). Their Premier project is a gold and silver surface mine. It is a 4 million oz gold resource (.7 gpt), plus 38 million oz of silver (4 gpt). However, recent drill results (572 meters... more
02/05/2020
Analysis
Updated: Americas Gold & Silver Corp
Americas Gold & Silver Corp (formerly Americas Silver Corp) is a mid-tier silver producer in Mexico (San Rafael) and Idaho (Galena). They merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high-grade silver mine. They currently... more
02/04/2020
Analysis
Updated: DELETE - Great Panther Mining
Great Panther Mining (formerly Great Panther Silver) is a mid-tier gold/silver producer in Mexico. They have two producing mines in Mexico that produce 90% precious metals (silver and gold) and one producing gold mine in Brazil (Tucano). They used to be... more
02/04/2020
Analysis
Added: Classic Minerals Ltd
Classic Minerals is a project generator in Australia. They have two early exploration gold projects. Forrestania (1 million acres) has 250,000 oz (1.25 gpt) and is being drilled. It could looks like a mine, but could be small. Kat Gap (8,000 acres) is a... more
02/04/2020
Analysis
Updated: Endeavour Silver Corp
Endeavour Silver is a silver/gold producer in Mexico. They have 3 high-grade silver/gold producing mines, with expected production of 6.5 million oz (silver equivalent including gold) in 2020. They are expanding production and reserves, projecting 10... more
02/03/2020
Analysis
Added: Red Lake Gold Inc
Red Lake Gold is a new project generator focused in Canada. They have a single project (Whirlwind Jack) that is located next door to the Dixie Gold discovery by Great Bear. They have yet begun drilling Whirlwind (50,000 acres). It's in a good location in... more
02/03/2020
Analysis
Added: Talisker Resources Ltd
Talisker Resources is a project generator focused in Canada. They have several properties located in British Columbia on 650,000 acres. Their Spences Bridge property is a large district scale property (500,000 acres). They recently acquired the Bralorne... more
02/02/2020
Analysis
Added: Sitka Gold Corp
Sitka Gold is a new project generator focused in North America. They have 4 drill-ready projects. Nothing looks very exciting at this time. They are going to drill their gold/silver project (Burro Creek) in Arizona in 2020. They don't have a lot of cash,... more
02/02/2020
Analysis
Added: Turmalina Metals Corp
Turmalina Metals is a new project generator that was listed in 2019. They have a high-grade gold discovery in Argentina (San Francisco). Initial drill results are impressive (85 meters at 4.4 gpt AU and 109 gpt AU). It looks like a mine and is the reason... more
02/01/2020
Analysis
Updated: Grizzly Discoveries Inc
Grizzly Discoveries is a project generator focused in Canada. They have a large property (Greenwood) in British Columbia with 225,000 acres. On part of the property (65,000 acres) Kinross Gold had a 75% option which they recently terminated after... more
02/01/2020
Analysis
Updated: DELETE - Bitterroot Resources Ltd
Bitterroot Resources is mostly a base metal exploration company with 225,000 acres in Michigan. They have an early exploration gold project in British Columbia (North Brenda) which over the past two years returned no economic results.
Recently they... more
02/01/2020
General
January 2020 Newsletter Posted
January 2020 Newsletter Posted. more
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