News from January 2022

01/30/2022

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

01/29/2022

Analysis

Updated: Classic Minerals Ltd

Classic Minerals is trying to become a small gold producer in Australia. They are trying to advance their Kat Gap (8,000 acres) project to production. It is a high-grade discovery (originally 15 meters at 15 gpt). They are currently doing a 50,000 ton... more

01/29/2022

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

01/29/2022

Analysis

Updated: Seahawk Gold

Seahawk Gold is a new project generator. They have 5 properties in Quebec and 3 projects in Liberia which they acquired from Sama Resources (but it was not finalized yet). All of them are early exploration. They drilled Touchdown (6,000 acres), Mystery (8 more

01/29/2022

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

01/28/2022

Analysis

Updated: Sitka Gold Corp

Sitka Gold is a new project generator focused in North America. Their current focus is the RC Gold project, in which they recently hit 220 @ 1.17 g/t gold. This discovery seems very interesting as the lower parts of the hole contain higher grades. This... more

01/28/2022

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). Cooke Mountain has 5 past producing mines on the property. It is a 200,000 oz deposit and could easily turn into a... more

01/27/2022

Analysis

Updated: ESGold Corp

Secova Metals is a small gold exploration company in Canada. They are trying to advance their Duvay project (17,000 acres) in Quebec. They hired the CEO from Eagle Hill Exploration, which sold his company to Osisko Mining after finding 1.8 million oz in... more

01/27/2022

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

01/26/2022

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 15 gpt. Plus, they have 10 drills turning and are finding more... more

01/26/2022

General

Don Interview: The Early Investor

https://youtu.be/CwecO7JDpsM more

01/26/2022

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

01/26/2022

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 $7 million fully diluted. The stock has crashed 99% from $3.80 per share in 2011 to 5 cents today. Their... more

01/25/2022

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

01/25/2022

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

01/25/2022

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

01/24/2022

Analysis

Updated: Sierra Metals Inc

Sierra Metals is mostly a base metals producer in Mexico and Peru. They are currently producing about 4 million oz of silver equivalent (including gold), but only about 28% of revenue is from silver and gold. They have plans to double production, but the... more

01/24/2022

Analysis

Updated: Dynacor Gold Mines Inc

Dynacor Gold Mines uses a unique business model. They use the free cash flow from a mill (about $15 million expected in 2022) to finance exploration and pay dividends (3% yield). They plan to add a second toll milling operation in Senegal (West Africa).... more

01/24/2022

Analysis

Updated: Baru Gold Corp

Baru Gold (formerly East Asia Minerals) is building a small open-pit project in Indonesia. Their 70% owned Sangihe project has 220,000 oz (they get 70%) in the Indicated & inferred categories, about 1/3 of them are oxide. Production is scheduled for Q1... more

01/23/2022

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

01/23/2022

Analysis

Updated: Ivanhoe Mines Ltd

Ivanhoe Mines has two huge projects, plus a large zinc 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% of... more

01/22/2022

Analysis

Updated: Capricorn Metals Ltd

Capricorn Metals is a new gold producer in Australia. They began production at Karlawinda (350,000 acres) in 2021. It is a 2 million oz open pit (.8 gpt). They were able to build it for only $60 million of debt and have already paid back $5 million,... more

01/22/2022

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

01/22/2022

Analysis

Updated: Monument Mining Ltd

Monument Mining is a building a small gold mine in Malaysia (Selinsing). It is an 800,000 oz resource and will produce about 35,000 oz annually. They have an FD market cap of $29 million. They are projecting all-in costs around $1300 per oz. They have $38 more

01/21/2022

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

01/21/2022

Analysis

Updated: Challenger Gold

Challenger Exploration is an Australian-based company advancing a large high-grade gold discovery in Argentina. It has a 600,000 oz (13 gpt) historical resource, but they have 9 drills turning and have drilled 100,000 meters. Plus, they plan to drill... more

01/20/2022

Analysis

Updated: Nova Minerals Ltd

Nova Minerals has a large gold project (Estelle) in Alaska (85% ownership). The Korbell deposit is already 7 million oz (their share), although low grade (.3 gpt). The RPM deposit is 1.3 million oz (2 gpt) with excellent grade. RPM had some huge high-grad more

01/20/2022

Analysis

Updated: Prosper Gold Corp

Prosper Gold is a project generator focused in Canada. They just began drilling 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. Initial drill results were not very good... more

01/19/2022

Analysis

Updated: Silver Elephant Mining

Silver Elephant Mining (previously Prophecy Development) is a project generator focused in Bolivia. They have a large silver project called Pulacayo-Paco (8,000 acres). The good news is that it is a large project, the bad news is that it is in Bolivia,... more

01/18/2022

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

01/18/2022

Analysis

Updated: Perpetua Resources Corp

Perpetua Resources (formerly Midas Gold) has a very large gold project in Idaho that is heading to production around 2027. 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... more

01/17/2022

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 $1.4 billion FD market cap, so it isn’t a cheap stock. Sukari has a large resource of 11 million oz M&I. They... more

01/17/2022

Analysis

Updated: 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, if you include historical... more

01/16/2022

Analysis

Updated: 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 2022. They are cashed up with about $ more

01/15/2022

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

01/15/2022

Analysis

Updated: Omai Gold Mines Corp

Omai Gold Mines is a new company. They recently acquired the Omai mine in Guyana (South America). This open-pit mine produced 3 million oz between 1992 and 2004. There has been extensive drilling below the past producing open pits. They have a historical... more

01/15/2022

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

01/15/2022

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

01/13/2022

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

01/13/2022

Analysis

Updated: DELETE - Antioquia Gold Inc

Antioquia Gold is a small gold producer in Colombia. They are producing about 30,000 oz. It is projected to mine 150,000 oz over 5 years. I don't know how they were able to raise $100 million in debt for such low output. Plus, cash costs were $1500 per... more

01/11/2022

Analysis

Updated: Buenaventura Mining

Buenaventura Mining is an emerging major with production of 275,000 oz of gold, 13 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... more

01/11/2022

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), which is currently ramping up production. The capex is $125 million to produce 100,000 oz annually. That will be their starter mine.... more

01/11/2022

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

01/10/2022

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 gpt and is growing in size. Drill... more

01/10/2022

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 ($368 million capex). They have a large silver deposit (75 million oz at 4... more

01/09/2022

Analysis

Updated: West African Resources Ltd

West African Resources is a mid-tier gold producer in Burkina Faso (West Africa). They have 12 million oz (1 gpt) and are producing 280,000 oz annually (Sanbrado). They are building their flagship project (Kiaka), which will take their production to 400,0 more

01/09/2022

Analysis

Updated: AbraSilver Resource Corp

Abrasilver Resources (previously Abraplata Resources) is advancing a large silver/gold project in Argentina. They obtained the Diablillos project from Silver Standard (now SSR Mining). They paid cash (plus $7 million is still due in 2025), and they gave... more

01/09/2022

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 (plus 1% NSR) that is being drilled by Tudor Gold. The... more

01/08/2022

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

01/08/2022

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

01/08/2022

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

01/08/2022

Analysis

Updated: DELETE - Orsu Metals Corp

Orsu Metals is advancing their Sergeevskoe gold project in Russia (Siberia). It is next to a large open pit mine and appears to be another mine. They released an updated resource estimate in 2020 with 1.4 million oz (1.5 gpt), all inferred. Bulk... more

01/08/2022

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 began in 2021, and underground ramp-up will occur in 2022. It has a 19-year mine life (likely to be... more

01/07/2022

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

01/07/2022

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

01/06/2022

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

01/06/2022

Analysis

Updated: Hecla Mining Company

Hecla Mining is a silver and gold mining company (about 60/40). They used to be a low-cost silver producer, but they lost money in 2019 money. They have a leveraged balance sheet with $495 million in debt and $190 million in cash. They have been up and... more

01/05/2022

Analysis

Updated: 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 5 million oz underground project with a $350 million capex. A feasibility is due in 2022, with... more

01/04/2022

Analysis

Updated: Tectonic Metals Inc

Tectonic Metals is a project generator focused in Alaska. They have four large properties that are all drill-ready. Currently, they are doing rock sampling and drilling on the Tibbs property with high-grade results (they drilled 6.03 g/t Au Over 28.95... more

01/03/2022

Analysis

Updated: K2 Gold Corp

K2 Gold (formerly West Melville Metals) is project generator focused in Canada and California. They recently acquired a gold discovery (Mojave) in California. It has several historical discovery holes. They recently drilled a hole of 86 meters at 4 gpt.... more

01/03/2022

Analysis

Added: Eminent Gold Corp

Eminent Gold is a project generator focused in Nevada. They have four early exploration gold projects. Hot Springs (2,500 acres), Spanish Moon (750 acres), Gilber South (1,000 acres), and Weepah (1,000 acres). It appears there has been very little drill... more

01/02/2022

Analysis

Updated: Ximen Mining Corp

Ximen Mining has a number of exploration projects in British Colombia and a past producing mine which is their focus (Kenville). They claim to be a development company but I have them categorized as an exploration company until they do a significant... more

01/02/2022

General

December 2021 Newsletter Posted

December 2021 Newsletter Posted. more

01/01/2022

Analysis

Updated: Carnavale Resources Ltd

Carnavale Resources is a project generator focused in Australia. They have two gold projects (Ora Banda South, and a 80% ownership in Kookynie) and two base metal nickel projects. Both of their gold projects are early exploration. Kookynie (12,500 acres)... more

News from January 2022

Calendar

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