News from January 2023

01/30/2023

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

01/29/2023

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

01/29/2023

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

01/27/2023

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

01/26/2023

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

01/26/2023

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

01/26/2023

Analysis

Updated: Adamera Minerals Corp

Adamera Minerals is a project generator focused in Washington State. Their Cooke Mountain (3,000 acres) project has 5 past producing mines in an area that produced 8 million oz's. It is a 200,000 oz deposit and could easily turn into a mine, although... more

01/26/2023

Analysis

Updated: Adamera Minerals Corp

Adamera Minerals is a project generator focused in Washington State. Cooke Mountain (3,000 acres) has 5 past producing mines on the property. It is a 200,000 oz deposit and could easily turn into a mine, but recent drill results were disappointing. They... more

01/25/2023

General

New SeekingAlpha Article: Coeur Mining

https://seekingalpha.com/article/4572372-coeur-mining-a-mid-tier-goldsilver-producer more

01/25/2023

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

01/24/2023

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 2023) to finance exploration and pay dividends (3% yield). They plan to add additional toll milling operations in Peru and Senegal (Wes more

01/24/2023

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

01/23/2023

Analysis

Updated: Sierra Metals Inc

Sierra Metals was mostly a base metals producer in Mexico and Peru. They had a flooding event in 2022, and production is currently halted. This caused their share price to crash to 10 cents. It has since rebounded to 35 cents, with an FD market cap of $59 more

01/23/2023

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%). Production is scheduled for 2023. Their share will be around 15,000 oz annually. This could increase... more

01/22/2023

Analysis

Updated: Challenger Gold

Challenger Exploration is an Australian-based company advancing a large open-pit gold discovery in Argentina. It has a 2 million oz (1.4 gpt AUEQ), but they have 9 drills turning and have drilled 100,000 meters. Plus, they plan to drill another 100,000... more

01/22/2023

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

01/21/2023

Analysis

Updated: DELETE - Antioquia Gold Inc

Antioquia Gold is a small gold producer in Colombia. They are producing about 30,000 oz. They are 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, their cash costs are... more

01/21/2023

Analysis

Updated: Augusta Gold Corp

Augusta Gold (formerly Bullfrog Gold) has an open pit project in Nevada (Bullfrog-Reward). The combined properties (7 miles apart) have almost 2M oz. Reward has about 500,000 oz at .75 gpt and permitted. Bullfrog has about 1.5M oz at .5 gpt is being... more

01/21/2023

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

01/19/2023

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 30,000 oz annually. They have an FD market cap of $25 million. They are projecting all-in costs around $1200 per oz. They have $16 more

01/18/2023

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 (their share) is 1.3 million oz (2 gpt) and growing in size. RPM had some... more

01/18/2023

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

01/17/2023

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 $1.6 billion FD market cap, so it isn’t a cheap stock. Sukari has a large resource of 5 million oz M&I (their... more

01/17/2023

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 (25,000 acres).... more

01/17/2023

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

01/16/2023

Interview

Don Interviewed on Palisades Radio

https://youtu.be/PkTIBtpOlJ4 more

01/16/2023

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). In 2020, they drilled Raney and found a significant discovery hole of 6 meters at 28 gpt AU. However, since then, the... more

01/15/2023

Analysis

Updated: ESGold Corp

ESGold Corp (previously Secova Metals) is a small gold exploration company in Canada. They are trying to advance their Duvay project (17,000 acres) in Quebec. They have a PEA due sometime before March 2023 and raised $500K in December 2022, so they are... more

01/15/2023

Analysis

Updated: Orea Mining Corp

Orea Mining (formerly Columbus Gold) is a project generator. They recently bought the other 55% of the Montagne deposit in French Guyana (South America) to gain 100% control. It is a 5 million oz surface deposit at 1.4 gpt with exploration potential to... more

01/15/2023

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 hit 220 @ 1.17 g/t gold in 2021. This discovery seems very interesting as the lower parts of the hole contain higher grades. This... more

01/15/2023

Analysis

Updated: Viscount Mining Corp

Viscount Mining is a 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... more

01/15/2023

Analysis

Updated: Tempus Resources Ltd

Tempus Resources is an Australian exploration company. In 2022, they had a huge discovery hole (28 meters at 28 gpt) at their Blackdome-Elizabeth project is in British Columbia. Amazingly, investors didn’t care, and it has an FD market cap of $18... more

01/15/2023

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. Drill results in 2021 were... more

01/15/2023

Analysis

Updated: Orla Mining Ltd

Orla Mining was a new mid-tier producer in 2022. They have 15 million oz and are a growth story. They currently produce 100,000 oz in Mexico (Camino Rojo) with cash costs around $500 to $600 per oz. So, they have solid FCF. It’s a 10 million oz... more

01/14/2023

Analysis

Updated: iMetal Resources

iMetal Resources is a project generator focused in Canada. They are a new company that recently acquired a large property (40,000 acres) in Ontario called Gowganda. Only 5% has been explored and they have found high-grade grab samples. First drill... more

01/14/2023

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 2.3 million oz open pit (.8 gpt). They were able to build it for only $60 million of debt and have already paid back $25 million,... more

01/13/2023

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

01/13/2023

Analysis

Updated: IAMGOLD Corp

IAMGold Corp is a large mid-tier producer, with production at 450,000 oz. They have 2 operating mines in Canada (Quebec), and Burkina Faso. They are currently building a large gold mine in Ontario (Cote with 7 million oz), and are spending millions on... more

01/12/2023

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

01/11/2023

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 3.7 million oz between 1992 and 2005 by IAMGold. They left a lot of gold behind. The Wenot open pit has 1.8M oz at 1.5 gpt. The... more

01/11/2023

Analysis

Updated: Buenaventura Mining

Buenaventura Mining is an emerging major with production of 200,000 oz of gold, 8 million oz of silver, and significant copper and zinc (40% of revenue comes from base metals). They have a pipeline of 6 projects and 20 million oz of gold resources that... more

01/09/2023

Analysis

Updated: 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 (1,500 acres), Gilbert South (1,000 acres), and Weepah (1,000 acres). It appears there has been very little... more

01/09/2023

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

01/09/2023

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

01/09/2023

Analysis

Updated: White Gold Corp

White Gold Corp. has 30 properties in the Yukon on 900,000 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

01/09/2023

Analysis

Updated: Conroy Gold & Natural Resources Plc

Conroy Gold is a project generator focused in Ireland. They have a 42% JV for their Clay Lake – Clontibret project. It is on 250,000 acres with a 40-mile trend. The initial resource was 500,000 oz at 1.6 gpt, with a target of 2-4 million oz. Their JV... more

01/09/2023

Analysis

Updated: Tectonic Metals Inc

Tectonic Metals is a project generator focused in Alaska. They have four large properties that are all drill-ready. They finished their first field program at the Flat Gold Project in 2022. This is the first field work in over 20 years at the project and... more

01/09/2023

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 recently got the first or two permits needed to restart production at their Kenville project. They continue to do... more

01/08/2023

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 from 2023 to 2026), and... more

01/08/2023

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 (1.3 gpt) and are producing 230,000 oz annually (Sanbrado-M1-Toega). They are building their flagship project (Kiaka), which will take their... more

01/07/2023

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. Full ramp-up was just completed in Q4 2022. It has a 19-year mine life (likely to be increased). MAG's share will be about... more

01/07/2023

Analysis

Added: Meeka Gold Ltd

Meeka Gold is advancing a large gold project (Murchison) in Western Australia. It is already 1.1 million oz (2.5 gpt) and has an additional 30,000 meters (from St Annes) that will add a few more hundred thousand ounces. It is a large (90,000 acres)... more

01/06/2023

Analysis

Added: Metals Australia Ltd

Metals Australia is a project generator focused in Australia and Canada. They have several projects and I'm not sure of their focus. They have a Lithium/base metals project in Western Australia. They have a graphite project in Quebec. Plus, they have 5... more

01/05/2023

Analysis

Updated: Skeena Resources Ltd

Skeena Resources is close to beginning construction on a large (5 million oz) high-grade open pit project (Eskay Creek) in the Golden Triangle in British Columbia. They obtained Eskay Creek from Barrick Gold in December, 2017. The Eskay Creek mine... more

01/05/2023

Analysis

Added: Goldstorm Metals Corp

Goldstorm Metals is a project generator focused in Canada. It was formed in 2022 and has one property (Crown) on 40,000 acres. It is in the Golden Triangle in British Columbia. It has had extensive early exploration with 20 drill sites identified, but... more

01/04/2023

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 130 million oz (800 gpt silver equivalent including gold) and growing in size.... more

01/04/2023

Analysis

Added: Regency Silver Corp

Regency Silver was formed in 2022. They have two early exploration projects in Mexico. Dios Padre (they do not list the property size) has had 66 drill holes and is a 10M oz deposit (236 gpt AGEQ). It potentially could double or triple in size and they... more

01/03/2023

Analysis

Updated: Osisko Development Corp

Osisko Development was 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 $450 million capex. A feasibility is due in 2023, with construction... more

01/03/2023

Analysis

Added: Hercules Metals Corp

Hercules Silver is a project generator focused in the USA. They are drilling their Hercules project (4,000 acres) in Idaho. It has 28,000 meters of historical drilling, including 30 meters at 335 gpt, 27 meters at 394 gpt, and 47 meters at 377 gpt. It is... more

01/02/2023

General

December 2022 Newsletter Posted

December 2022 Newsletter Posted. more

01/02/2023

Analysis

Updated: C2C Gold Corp

C2C Gold Corp. (previously Taku Gold) is a project generator with a large land package of 11 properties (125,000 acres) in the Yukon. Although they are one of the largest landholders in the Yukon, they currently shift their efforts to Newfoundland, in... more

01/02/2023

Analysis

Updated: Hecla Mining Company

Hecla Mining is a silver and gold mining company (about 60/40). They are a low-cost silver producer, with cash costs under $2 per oz after offsets. They have a leveraged balance sheet with $550 million in debt and only $150 million in cash. Their recent... more

01/01/2023

Analysis

Updated: Almadex Minerals Ltd

Almadex Minerals was spun off by Almaden Minerals in 2015. Almaden Minerals decided to develop their flagship project (Ixtaca) in Mexico. Almadex was left with 19 exploration properties and 18 NSRs. That's a pretty good portfolio of projects. The stock... more

01/01/2023

Analysis

Updated: Emergent Metals Corp

Emergent Mining (previously Emgold Mining) is a project generator with projects in Nevada and Quebec. They have a 350,000 oz (.6 gpt) project in Nevada called Golden Arrow which is on 10,000 acres and is likely to grow in size. They released some... more

01/01/2023

Analysis

Updated: Gold Bull Resources Corp

Gold Bull Resources (previously QX Metals and Black Sea Copper & Gold) is attempting to become a gold producer in Nevada. They have a significant gold discovery (Sandman) in Nevada on 30,000 acres. It is a 500,000 oz (.7 gpt) deposit that is growing in... more

News from January 2023

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