News from January 2021

01/31/2021

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. A rebuilding process was finally done in 2020 in which they paid down their debt and their new focus is the Yuge... more

01/31/2021

Analysis

Updated: Red Lake Gold Inc

Red Lake Gold is a new project generator (formed in 2019) focused in Canada. Their main project is Whirlwind Jack, located next door to the Dixie Gold discovery by Great Bear. They have not yet begun drilling Whirlwind (50,000 acres), instead, they... more

01/30/2021

Analysis

Updated: Seahawk Gold

Seahawk Gold is a new project generator focused in Canada. They have 5 properties in Quebec. All of them are early exploration with very little drilling. They drilled Touchdown (6,000 acres), Mystery (8,000 acres), and Xtra Point (140 acres) in 2019.... more

01/30/2021

Analysis

Updated: Classic Minerals Ltd

Classic Minerals is a project generator in Australia. They have two early exploration gold projects. Kat Gap (8,000 acres) is a high-grade discovery (originally 15 meters at 15 gpt), they keep drilling it and get high grade (but narrow) veins, it is... more

01/30/2021

Analysis

Updated: Westkam Gold Corp

Westkam Gold is a project generator focused in Canada. They have one project (Bonaparte in British Columbia) which they tried to sell to MX Gold but couldn't finalize it. Therefore they drilled it in 2018 and plan to continue in 2019, but their financial... more

01/30/2021

Analysis

Updated: DELETE - Chaarat Gold Holdings Ltd

Chaarat Gold is an emerging mid-tier producer with lofty ambitions. Their goal is to become a major. That ambitious growth potential would make this stock attractive. However, the problem is their flagship project (Kyzyltash) is located in the Kyrgyz... more

01/28/2021

Analysis

Updated: Ivanhoe Mines Ltd

Ivanhoe Mines has two huge projects, plus another very large project. They are not really a gold or silver miner, but their Platreef PGM project in South Africa has 7 million oz (.25 gpt) of gold. Incredibly, that is only 7% of scheduled production. 90%... more

01/28/2021

Analysis

Updated: Monument Mining Ltd

Monument Mining is a small gold producer in Malaysia (Selinsing). They will produce about 35,000 oz in 2021 and they have an FD market cap of $29 million. Last quarter they broke even, but are projecting all-in costs around $1300 per oz. They have about... more

01/27/2021

Analysis

Updated: Augusta Gold Corp

Augusta Gold (formerly Bullfrog Gold) has a small open pit project in Nevada (Bullfrog). It is a 700,000 deposit at 1 gpt. It is on a property where Barrick Gold mined 2.3 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to... more

01/27/2021

Analysis

Updated: Baru Gold Corp

Baru Gold (formerly East Asia Minerals) is an exploration company focused in Indonesia. Currently building their 70% owned Sangihe project, which has 220,000 oz in the Indicated & inferred categories, about 1/3 of them are oxide. Production is scheduled... more

01/26/2021

Analysis

Updated: Sierra Metals Inc

Sierra Metals is mostly a base metals producer in Mexico and Peru. They are currently producing about 5 million oz of silver equivalent (including gold), but only about 30% of revenue is from silver and gold. They have plans to double production. Free... more

01/26/2021

Analysis

Updated: Dynacor Gold Mines Inc

Dynacor Gold Mines uses a unique business model. They use the free cash flow from a mill (about $5 million expected in 2021) to finance exploration and pay dividends (3% yield). They plan to expand the mill and increase their annual free cash flow.... more

01/26/2021

Analysis

Updated: Augusta Gold Corp

Augusta Gold (formerly Bullfrog Gold) has a small open pit project in Nevada (Bullfrog). It is a 700,000 deposit at 1 gpt. It is on a property where Barrick Gold mined 2.3 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to... more

01/26/2021

Analysis

Updated: Lake Victoria Gold

Tembo Gold is trying to advance a project (25,000 acre Tembo property) in Tanzania. They ran out of money in 2014 and stopped drilling. Since then they have not made any progress. However, with increased gold prices, they seem to be back in business.... more

01/26/2021

Analysis

Updated: Augusta Gold Corp

Augusta Gold (formerly Bullfrog Gold) has a small open pit project in Nevada (Bullfrog). It is a 700,000 deposit at 1 gpt. It is on a property where Barrick Gold mined 2.3 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to... more

01/26/2021

Analysis

Updated: Augusta Gold Corp

Augusta Gold (formerly Bullfrog Gold) has a small open pit project in Nevada (Bullfrog). It is a 700,000 deposit at 1 gpt. It is on a property where Barrick Gold mined 2.3 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to... more

01/25/2021

Analysis

Updated: Capricorn Metals Ltd

Capricorn Metals (formerly Malagasy Minerals) is advancing an open pit gold mine (Karlawinda) in Western Australia. It is an aggressive company and has advanced this project quickly. They bought the project in 2016 and production is scheduled for Q2 2021. more

01/25/2021

Analysis

Updated: Lake Victoria Gold

Tembo Gold is trying to advance a project (25,000 acre Tembo property) in Tanzania. They ran out of money in 2014 and stopped drilling. Since then they have not made any progress. However, with increased gold prices, they seem to be back in business.... more

01/24/2021

Analysis

Updated: Orea Mining Corp

Orea Mining (formerly 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) more

01/24/2021

Analysis

Updated: DELETE - Golden Star Resources Ltd.

Golden Star Resources is an old company with 25 years of experience. They have a good management team and appear to be heading in a good direction. They have 10 million oz (3 gpt) of resources in Ghana, West Africa. They have one large producing mine (Was more

01/23/2021

Analysis

Updated: DELETE - Antioquia Gold Inc

Antioquia Gold is a small gold producer in Colombia. They are producing about 25,000 oz. It is projected to mine 150,000 oz over 5 years. I don't know how they were able to raise $80 million in debt for such low output. Plus, cash costs were 950 per oz... more

01/23/2021

Analysis

Updated: Sitka Gold Corp

Sitka Gold is a new project generator focused in North America. They have 6 drill-ready projects. Nothing looks very exciting at this time. They drilled their gold/silver project (Burro Creek) in Arizona in 2020 and recieved intervals of 40 & 50 meters... more

01/22/2021

Analysis

Updated: NorZinc Ltd

NorZinc Ltd (previously Canadian Zinc) has a zinc/silver/lead project (Prairie Creek) in the Northwest Territories. They are heading towards production, but still need financing ($240 million capex). They have a large high-grade deposit (84 million oz at... more

01/22/2021

Analysis

Updated: Orla Mining Ltd

Orla Mining has two open pit projects totaling 12 million oz. They are building their first mine (Camino Rojo - Mexico), with first pour due in 2021. The capex in $125 million to produce 100,000 oz annually. That will be their starter mine. The cash... more

01/22/2021

Analysis

Updated: Orla Mining Ltd

Orla Mining has two open pit projects totaling 12 million oz. They are building their first mine (Camino Rojo - Mexico), with first pour due in 2021. The capex is $125 million to produce 100,000 oz annually. That will be their starter mine. The cash... more

01/21/2021

Analysis

Updated: Buenaventura Mining

Buenaventura Mining is a major with production of 300,000 oz of gold, 12 million oz of silver, and significant copper and zinc (30% of revenue comes from base metals). They have a pipeline of 6 projects and 20 million oz of gold resources that will... more

01/21/2021

Analysis

Updated: Challenger Gold

Challenger Exploration is an Australian-based company with three projects. Their Hualilan project in Argentina looks pretty good, although it is dependent on exploration success. They have 600,000 oz (13 gpt), but only own 75%. It is growing in size (45,0 more

01/20/2021

Analysis

Updated: Omineca Mining & Metals Ltd

Omineca Mining & Metals has small high-grade gold project (Wingdam) in Canada. They plan to do bulk sampling from 2021 to 2023 of placer gold. It has a low capex, but they don't say how much it will cost. Plus, they don't give any guidance for how many... more

01/19/2021

Analysis

Updated: Adamera Minerals Corp

Adamera Minerals is a project generator focused in Washington State. They have a 25% JV for their Cook Mountain property (3,000 acres). Cook Mountain has 5 past producing mines on the property. Their partner is drilling. They also have two other... more

01/19/2021

Analysis

Updated: Nova Minerals Ltd

Nova Minerals is an Australian exploration company that has a large gold project in Alaska. Estelle is already 2.5 million oz, although low grade (.4). They think they have a higher grade starter pit and plan to do a PEA in 2021. It's an exciting... more

01/18/2021

Analysis

Updated: White Gold Corp

White Gold Corp. has 35 properties in the Yukon on 1 million acres. They acquired the Golden Saddle property from Kinross Gold, who traded it for 20 million shares of the company. Golden Saddle is 1.5 million oz at 2.5 gpt and is growing in size. Drill... more

01/18/2021

Analysis

Updated: Silver Bull Resources Inc

Silver Bull Resources has a large silver/zinc project in Mexico. Sierra Mojada is a 90 million oz (50 gpt and 75% recovery rate) silver deposit with 4 billion lbs of zinc, plus copper and lead. The property is on 50,000 acres and has exploration... more

01/17/2021

Analysis

Updated: Prosper Gold Corp

Prosper Gold is a project generator focused in Canada. They are getting ready to drill their Golden Sidewalk (40,000 acres) project in Ontario. It is in a good location in Red Lake and has had very good surface samples. This is the reason for their high... more

01/16/2021

Analysis

Updated: West African Resources Ltd

West African Resources is advancing a large gold project in West Africa. They have six potential open pit mines with 3 million oz (1.2 gpt) and another 500,000 oz of high-grade gold underground. Plus, they have more than 1 million contiguous acres in... more

01/16/2021

Analysis

Updated: Perpetua Resources Corp

Midas Gold has a very large gold project in Idaho that is heading to production around 2025. Stibnite is a 6.8 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential. They have an FD market cap of $460 million and... more

01/16/2021

Analysis

Updated: Perpetua Resources Corp

Midas Gold has a very large gold project in Idaho that is heading to production around 2025. Stibnite is a 6.8 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential. They have an FD market cap of $460 million,... more

01/16/2021

Analysis

Updated: DELETE - Bitterroot Resources Ltd

Bitterroot Resources has recently acquired a new gold/silver property in Nevada (Coyote Sinter) but their current focus is the LM property in Michigan in which they have 51%. They believe it can be a Nickel-Copper-Platinum-Palladium discovery after... more

01/16/2021

Analysis

Updated: Star Gold Corp

Star Gold Corp has a small gold project in Nevada. It's only a 100,000 oz resource, but the all-in costs make it economic at $1200 gold. The capex is only $25 million and the after-tax IRR is 25% at $1300 gold. The problem is financing, They need $2.5... more

01/15/2021

Analysis

Updated: AbraSilver Resource Corp

Abraplata Resource Corp is a project generator focused in Argentina. They obtained the Diablillos silver/gold project from Silver Standard (now SSR Mining). They paid cash ($7 million still due in 2025), plus they gave SSR Mining shares (currently 16%... more

01/15/2021

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

01/15/2021

Analysis

Updated: Teuton Resources Corp

Teuton Resources is a project generator in Canada (British Columbia). They have been around for a long time (1982) and have 25 projects (about 6 JVs). They have 20% of the Treaty Creek project that is being drilled by Tudor Gold. Drill results at Treaty... more

01/15/2021

Analysis

Updated: DELETE - Advance Gold Corp.

Advance Gold is a Canadian-based exploration company focused in Mexico. They have two early exploration projects (Venaditas, and Tabasquena) and one JV in Kenya (Kakamega). Both properties are in the prolific Zacatecas mining district. Tabasquena (25... more

01/14/2021

Analysis

Updated: Batero Gold Corp

Batero Gold has a low-grade open pit project in Columbia. They have a 3 million oz resource (.6 gpt). Surprisingly Batero Gold has a low valuation of $11 million fully diluted. The stock has crashed 98% from $3.80 per share in 2011 to 9 cents today.... more

01/14/2021

Analysis

Updated: Bear Creek Mining Corp

Bear Creek Mining is advancing a large silver project in Peru. Corani (300 million oz at 50 gpt) is one of the largest undeveloped silver projects in the world. Corani is on schedule for production in 2022, if they can finance the project ($580 million... more

01/13/2021

Analysis

Updated: iMetal Resources

iMetal Resources is a project generator focused in Canada. They are a new company that recently acquired a large property (25,000 acres) in Ontario called Gowganda. Only 5% has been explored and they have found high-grade grab samples. First drill... more

01/12/2021

Analysis

Updated: Medgold Resources Corp

Medgold Resources is developing a small gold project (Tlamino) in Serbia. It is a 650,000 oz (3 gpt) deposit at surface. The capex is $70 million to produce 50,000 oz annually for 8 years. The NAV is $100 million at $1500 gold. Their FD market cap is... more

01/12/2021

Analysis

Updated: Skeena Resources Ltd

Skeena Resources is a development company focused in the Golden Triangle in British Columbia. They obtained the high-grade Eskay Creek mine from Barrick Gold in December, 2017. The Eskay Creek mine produced 3.3 million oz. (45 gpt) of gold and 160... more

01/11/2021

Analysis

Updated: K92 Mining Inc

K92 Mining is a mid-tier gold producer in Papua New Guinea. They have one of the best gold mines in the world. It is high-grade and large (5 million oz at 10 gpt). The head grade is currently 17 gpt. Plus, they have 10 drill turning and are finding more... more

01/10/2021

Analysis

Updated: Nord Precious Metals Mining

Canada Silver Cobalt (formerly Canadian Cobalt Works) has two past producing silver mines (Castle Silver and Beaver). The Castle Silver mine produced 20 million oz of silver at 25 opt, plus a significant amount of cobalt. Production stopped in 1989 for... more

01/10/2021

Analysis

Updated: SilverCrest Metals Inc

Silvercrest Metals is building a large silver mine in Mexico. Las Chispas is a monster project. It has 6 miles of underground workings and 14 known veins. The resource size is 100 million oz (600 gpt silver equivalent including gold) and growing in size.... more

01/10/2021

Analysis

Updated: Volcanic Gold Mines Inc

Volcanic Gold Mines (formerly Volcanic Metals) is an exploration company focused in Guatemala. Previously they explored a project Guinea but political problems and regulations caused them to lose their drill permits. Then they shifted their focus to the... more

01/10/2021

Analysis

Updated: MAG Silver Corp

Mag Silver has an excellent silver project in Mexico. Their Juanicipio project is a JV with Fresnillo and they have a 44% interest. Open pit production should begin in Q3 2021 and it has a 19-year mine life (likely to be increased). Mag's share will be... more

01/09/2021

Analysis

Updated: Hecla Mining Company

Hecla Mining is a silver and gold mining company (about 50/50). They used to be a low-cost silver producer, but they have lost money in 2019 money. Now they have a leveraged balance sheet with $495 million in debt and $98 million in cash. However, last... more

01/09/2021

Analysis

Updated: Fortuna Mining

Fortuna Silver is a mid-tier producer in Mexico, Peru, and Argentina. They produce silver, gold, and base metals. In fact, they have 1 mine for each. San Jose in Mexico is a silver mine (8 million oz of annual production), Caylloma in Peru is a base... more

01/09/2021

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

01/09/2021

Analysis

Updated: Kingman Minerals

Kingman Resources (formerly Astorius Resources) is a new exploration company. They shifted their focus from Ecuador to Arizona where they get ready to drill their Mohave project. It is a historic Mine (Rosebud) with claims of 167 hectares. Rosebud was... more

01/08/2021

Analysis

Updated: GMV Minerals Inc

GMV Minerals is advancing an open pit oxide gold mine in Arizona. Their Mexican Hat property (4800 acres) is a gold discovery with 650,000 oz at 0.6 g/t (inferred). They published a PEA in 2019 but the market didn't believe those results were reasonable... more

01/08/2021

Analysis

Updated: GMV Minerals Inc

GMV Minerals is advancing an open pit oxide gold mine in Arizona. Their Mexican Hat property (4800 acres) is a gold discovery with 620,000 oz at 0.6 g/t (inferred). They published a PEA in 2019 but the market didn't believe those results were reasonable... more

01/07/2021

Analysis

Updated: Viscount Mining Corp

Viscount Mining is project generator focused in Colorado and Nevada. They have two early exploration silver projects. They are drilling Silver Cliff (2,000 acres) in Colorado. Early drill results have been promising (34 meters at 90 gpt, 12 meters at 300... more

01/06/2021

Analysis

Added: North Stawell Minerals Ltd

North Stawall Minerals is a new project generator focused in Australia. They acquired a large property (Wildwood) that is a past producing mine. It has 43 drill targets and they plan to drill 75,000 meters in 2021 and 2021. They are cashed up with about $ more

01/06/2021

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 11 million oz M&I. They... more

01/05/2021

Analysis

Added: Silver X Mining

Oro X Mining is a project generator. They have three early exploration projects. Two of them are in Peru (Coriorcco and Las Antas). They plan to drill Coriorcco in 2021. Their other project (Julian) is in Ecuador. None of their projects have had much... more

01/04/2021

Analysis

Updated: Lupaka Gold Corp

Lupaka Gold is advancing a small gold project to production in Peru. Their underground Invicta project has low resources (600,000 oz @ 5 gpt). Their plan was to mine 350 tpd (about 20,000 oz per year) but the project was illegaly blocked in 2018 which... more

01/04/2021

Analysis

Updated: Rockridge Resources Ltd

Rockridge Resources is a project generator focused in Canada. They have one gold project (Raney) and one copper project (Knife Lake). Neither are very exciting at this time. In 2020 they drilled Raney and got a spike after intersecting 6m @ 28 g/t au,... more

01/04/2021

Analysis

Added: Doré Copper Mining Corp.

Dore Copper Mining is trying to become a small copper/gold producer in Canada. They have about 6 properties in Quebec along with a mill. They have low resources but the grades are good. They have about 300,000 oz of gold, which you include historical... more

01/04/2021

Analysis

Added: Omai Gold Mines Corp

Omai Gold Mines is a new company. They acquired the Omai past producing mine in Guyana (South America). Their has been extensive drilling below the past producing open pits. They have a historical resource around 3 million oz (2.5 gpt), although the... more

01/04/2021

Analysis

Added: Omai Gold Mines Corp

Omai Gold Mines is a new company. They recently acquired the Omai mine in Guyana (South America). There has been extensive drilling below the past producing open pits. They have a historical resource around 3 million oz (2.5 gpt). The grade is low for an... more

01/03/2021

Analysis

Updated: Conroy Gold & Natural Resources Plc

Conroy Gold has an open pit project (Clay Lake - Clontibret) in N. Ireland that appears to be expanding in size. The initial resource is 500,000 oz at 1.6 gpt. They have only drilled 10,000 meters and think it could be 2 to 4 million oz. They are... more

01/03/2021

Analysis

Added: Osisko Development Corp

Osisko Development is a new company created in 2020 from a spinout by Osisko Gold Royalty. They are advancing the Caribou project in British Columbia. It is a 3 million oz underground project with a $350 million capex. A feasibility is due in 2021, with... more

01/02/2021

Analysis

Updated: Cerro de Pasco Resources Inc

Cerro de Pasco Resources has an agreement to acquire a large silver mine (Cerro de Pasco) in Peru. It is a 450 million oz mine with 3 plants at 20,000 tpd. They do not list the details of the acquisition in their news release. Until we have the details... more

01/02/2021

Analysis

Updated: Empire Metals Ltd

Empire Metals (Previously Georgia Mining and noricum Gold) is trying to become a producer. They have projects in Australia (Pilbara) and in Georgia (Russian satellite country). Currently they are infill drilling the Munni Munni project with its JORC... more

01/02/2021

Analysis

Updated: Tempus Resources Ltd

Tempus Resources is an Australian exploration company. They have two gold projects with potential. Their Blackdome-Elizabeth project is in British Columbia, and has two past producing high-grade mines. Combined they have 275,000 oz at 11 gpt. Their other... more

01/01/2021

General

December 2020 Newsletter Posted

December 2020 Newsletter Posted. more

News from January 2021

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