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05/28/2023
Analysis
Updated: BMEX Gold Inc
BMEX Gold is a project generator focused on Canada. They currently have two early exploration properties in Quebec: Dunlap Bay, spanning 10,000 acres, and King Tut, covering 12,000 acres. These properties have undergone minimal exploration efforts thus... more
05/27/2023
Analysis
Updated: Viva Gold Corp
Viva Gold is advancing a small open-pit gold project called Tonapah in Nevada. They have 600,000 ounces at 0.8 grams per tonne, with only 2/3 of them in the Measured and Indicated category, assuming a cut-off grade of 0.15 g/t. In 2020, they released a... more
05/26/2023
Analysis
Updated: Prospector Metals Corp
Prospector Metals (formerly Ethos Gold) is a project generator focused on Canada and Nevada. They have eight early exploration gold and base metals projects. In 2022, their primary drilling activities were centered around the Toogood project in... more
05/25/2023
Analysis
Updated: Theta Gold Mines Ltd
Theta Gold Mines (previously Stonewall Resources) is trying to become a gold producer in South Africa. They have a 4 million oz high-grade resource (their 74% share) and plan to
become a producer in 2024. Once they get their EIA permit, they plan to... more
05/25/2023
Analysis
Updated: St. James Gold Corp
St. James Gold is a new project generator focused in Canada. They have three projects, although they are focusing on Florin (22,000 acres) in the Yukon. It is a 2.5 million oz (.45 gpt) inferred deposit that is likely to double in size, the main problem... more
05/24/2023
Analysis
Updated: Candelaria Mining Corp
Candelaria Mining is focused in Mexico. They are currently planning to restart a small high-grade underground mine (Pinos) once the finance the capex. It has a low capex ($15 million) and a 1-year build. It will produce 12,000 oz annually, but they are... more
05/23/2023
Analysis
Updated: Big Ridge Gold Corp
Big Ridge Gold (formerly Alto Ventures) is trying to advance a past producing mine in Canada. Hope Brook is a 1 million oz deposit (4 gpt). They have an option to obtain 80% from First Mining Gold. Hope Brook was in production in 1997, so it has good... more
05/23/2023
Analysis
Updated: Heliostar Metals Ltd
Heliostar Metals (formerly Redstar Gold) recently acquired options on two advanced projects from Argonaut in Mexico. They will focus first on Ana Paula, which has both an open pit and underground mine. The resource is 1.5M oz, but perhaps only 1M oz for... more
05/23/2023
Analysis
Updated: Pan American Silver Corp
Pan American Silver is one of the largest silver producers. They get about 25% of their revenue from silver production, about 60% from gold, and the rest in base metals (zinc, lead, and copper). They acquired Tahoe Resources and joined the ranks of... more
05/23/2023
Analysis
Updated: Azimut Exploration Inc
Azimut Exploration is a project generator focused in Northern Quebec. In January 2020, they made a big discovery on their Elmer property (100 meters at 3 gpt). Plus, it had high-grade sections with visible gold. The stock has since blasted off and they... more
05/22/2023
Analysis
Updated: Minaurum Gold Inc
Minaurum Gold is a project generator with 6 projects in Mexico. They have an experienced team and a very good Board of Directors. They recently made a high-grade silver discovery on their Alamos property (90,000 acres), which has numerous drill targets (a more
05/21/2023
Analysis
Updated: St. Augustine Gold & Copper Ltd
St. Augustine Gold & Copper has a very large project in the Philippines (King-king). It is primarily a copper project with gold offsets. The stock price crashed to 1 cent because of political events in the Philippines. However, it has recently recovered... more
05/20/2023
Analysis
Updated: Aruma Resources Ltd
Aruma Resources is an exploration company focused on Western Australia. They sold their main gold projects to Black Cat Syndicate in 2020 and shifted their focus to the remaining properties. They have a shallow high-grade gold discovery in Salmon Gums,... more
05/20/2023
Analysis
Updated: Beacon Minerals Ltd
Beacon Minerals is a small gold producer in Australia. They have one project (Jaurdi) on 30,000 acres. It is a small resource (350,000 oz) and an open pit (1.2 gpt). They are profitable, producing 30,000 oz annually with all-in costs are around $1400 per... more
05/20/2023
Analysis
Updated: Robex Resources Inc
Robex Resources is a small gold producer in West Africa. They have an excellent property called Nampala (1.5 million oz at .8 gpt and growing). The problem is the location (Mali), which could limit their upside potential. Although, all of Robex projects... more
05/19/2023
Analysis
Updated: Prime Mining Corp
Prime Mining is a new company. They acquired the Los Reyes project from Vista Gold for $6 million. It is a high-grade oxide open-pit gold project in Mexico. It has 2.2 million oz of gold equivalent (including silver), and is growing in size. It has three... more
05/19/2023
Analysis
Updated: Western Copper & Gold Corp
Western Copper and Gold has a huge copper/gold project in Canada (Yukon) called Casino. I think it is too big for them to build on their own with a capex of $2.7 billion. The feasibility was completed in 2022. They are now cashed up and are permitting... more
05/19/2023
General
New SeekingAlpha Article: Avino Silver & gold
https://seekingalpha.com/article/4606166-avino-silver-and-gold-mines-highly-undervalued-silver-producer more
05/17/2023
Analysis
Updated: Amex Exploration Inc
Amex Exploration is a project generator focused in Canada. Their share price has exploded from 4 cents in 2018 to $1.80. Today it is back to $1.26. Once again, Eric Sprott (15% owner) has another winner. I liked this stock at 30 cents and knew it was... more
05/17/2023
Analysis
Updated: Brixton Metals Corp
Brixton Metals is a project generator focused in Canada. Their Thorn project (70,000 acres) in northern British Columbia is mostly a copper project, but it also has a significant silver discovery (90 meters at 600 gpt) and a gold discovery (Trapper)....... more
05/16/2023
Analysis
Updated: Antler Gold Inc
Antler Gold is a project generator with two projects in Namibia. Their Erongo project is located on a large property spanning 200,000 acres, but there has been limited drilling conducted and the results have not been impressive thus far. In order to... more
05/16/2023
Analysis
Updated: Nevada King Gold Corp
Nevada King Gold is a new company formed in 2020 when they acquired Victory Metals. They have 11 properties (about 100,000 acres) in Nevada that are all early exploration, although their Atlanta property is a past-producing mine with 600,000 oz (1.2 gpt), more
05/16/2023
Analysis
Updated: Nevada King Gold Corp
Nevada King Gold is a new company formed in 2020 when they acquired Victory Metals. They have 11 properties (about 100,000 acres) in Nevada that are all early exploration, although their Atlanta property is a past-producing mine with 600,000 oz (1.2 gpt). more
05/16/2023
Analysis
Updated: Canterra Minerals Corp
Canterra Minerals is a project generator focused in Canada. Their main focus is a large property (Wilding) with 55,000 acres in Newfoundland. They have drilled many holes but do not yet have a maiden resource. Most of the intercepts are narrow and need... more
05/15/2023
Analysis
Updated: Blackrock Silver
Blackrock Silver is a project generator focused in Nevada. They are drilling their Tonapah West (6,300 acres) project. The maiden resource was just released at 42 million oz at 446 gpt (AGEQ including silver). Investors expected more and sold it off.... more
05/15/2023
Analysis
Updated: De Grey Mining Ltd
De Grey Mining has a large open pit gold project in Australia. Their Mallina project is large with 375,000 acres and is 60 miles long. It has a lot of exploration potential. The resource is 10.5 million oz (1.5 gpt) and growing in size.
The plan is... more
05/14/2023
Analysis
Updated: Labrador Gold Corp
Labrador Gold is a project generator focused in Canada. They have 3 exploration projects in Newfoundland and Labrador. Kingsway (17,000 acres) is a significant high-grade discovery (4 meters at 44 gpt, 3.5 meters at 20 gpt). They are currently drilling a... more
05/14/2023
Analysis
Updated: Jaxon Mining Inc
Jaxon Minerals is a project generator focused on the Golden Triangle in British Columbia, Canada. They have conducted preliminary work on their Hazelton project, which covers 120,000 acres, and they hope to make a porphyry-related discovery.
Their... more
05/14/2023
Analysis
Updated: Valkea Resources Corp
Outback Goldfields is a project generator focused in Australia. They have 4 large early exploration properties in Victoria. Yeungroon (175,000 acres), Ballarat West (110,000 acres), Glenfine (22,000 acres), and Silver Spoon (12,000 acres). They have a... more
05/13/2023
Analysis
Updated: Discovery Silver Corp
Discovery Silver is advancing a large silver project (Cordero) in Mexico. Cordero has about 1.5 billion oz. of AGEQ (60 gpt), with significant offsets of lead, zinc, and gold. They are focusing on higher grades to improve the economics (about 500 million... more
05/13/2023
Analysis
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is a growing mid-tier silver producer in Mexico. They will produce about 3 million oz of silver equivalent in 2023 with break-even costs around $23 per oz (free cash flow). We will have to keep an eye on their costs.
They recently... more
05/13/2023
Analysis
Updated: Industrias Penoles NPV
Industria Penoles owns 75% of Fresnillo, which is one of the largest silver and gold producers in the world. They claim most of that production in their financials (Fresnillo is listed as a subsidiary), so I'm a bit confused. Fresnillo has a separate... more
05/13/2023
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. They are drilling 3 contiguous projects on their Red Lake property: Mount Jamie, Rowan Lake, and Red Summit.
In 2023, DLV... more
05/13/2023
Analysis
Updated: West Red Lake Gold Mines Inc
West Red Lake Gold Mines acquired the Madsen Mine from Pure Gold’s creditors in 2023. This is a game-changer and should make them a mid-tier producer. Madsen is a 2M oz (6 gpt) deposit with a working 800 tpd mill (can be expanded to 1500 tpd). Costs... more
05/12/2023
Analysis
Updated: DELETE - E79 Resources Corp
E79 Resources is a new project generator focused in Australia. They have two large properties: Beaufort (30,000 acres) and Myrtleford (100,000 acres) in Victoria. The location is promising for finding mines and they had an excellent discovery hole in... more
05/12/2023
Analysis
Updated: Newcore Gold Ltd
Newcore Gold (previously Pinecrest Resources) has a gold project (Enchi) in Ghana, West Africa. The resource size is 1.5 million oz at .6 gpt, and will likely grow in size. It is a large property (140,000 acres) with a lot of drilling targets. They... more
05/12/2023
Analysis
Updated: Klondike Silver Corp
Klondike Silver is attempting to develop a small, high-grade silver project in Canada. They own the 30,000-acre Slocan & Sandon project in British Columbia, which has 25 past producing mines. They also have a mill and are working to restart the Silvana... more
05/11/2023
Analysis
Updated: Pasofino Gold Ltd
Pasofino Gold (formerly Enforcer Gold) acquired an option for the Dugbe project (in Liberia) from Hummingbird Resources in 2020. They released a feasibility study in 2022 and plan to take it to production (although the $400M capex will make it difficult... more
05/11/2023
Analysis
Updated: DELETE - Tietto Minerals Ltd
Tietto Minerals became a mid-tier gold producer in 2022. They have a large gold project (Abujar) in West Africa (Cote D'Ivoire). It's a 4 million oz (1.2 gpt) deposit on 250,000 hectares with a 70-kilometer strike. They are currently working on a 120,000- more
05/10/2023
Analysis
Updated: Newmont Corp
Newmont Corp is a solid major, although growth will be flat at around 6 million oz for the next eight years. They have about 195 million oz of gold resources and a large pipeline (15 projects in development). Their problem is that they are so big ($38... more
05/09/2023
Analysis
Updated: Goldquest Mining Corp
Goldquest Mining has an advanced gold project in the Dominican Republic. The Romero project is 2 million oz at 2.5 gpt with a 28% after-tax IRR at $1300 gold. The capex is $158 million (2016 estimate). Cash costs are projected to be around $400 per oz (20 more
05/09/2023
Analysis
Updated: Lundin Gold Inc
Lundin Gold obtained the Fruta Del Norte from Kinross for $240 million. Fruta is a huge high-grade underground mine (9 million oz at 8 gpt). Kinross paid $1.2 billion for it from Aurelian Resources. Kinross did a pre-feasibility study to produce 400,000... more
05/08/2023
Analysis
Updated: Evolution Mining Ltd
Evolution Mining is a large gold producer in Australia and Canada. They have four producing mines and will produce about 660,000 oz in 2023. They have moderate cash costs (about $800 per oz) and are very profitable. They have $1.5 billion in debt, but... more
05/08/2023
Analysis
Updated: Aya Gold & Silver Inc
Aya Gold & Silver is an emerging mid-tier silver producer in Morocco. Zgounder is large silver project (100 million oz at 300 gpt) producing about 2 million oz a year. They plan to increase production to 8 million oz in Q2 2024. The capex is $140... more
05/07/2023
Analysis
Updated: Castle Minerals Ltd
Castle Minerals is a project generator. They have eight properties in Australia. Four of them are gold, the rest are all battery metals. They also have four projects in Ghana (2 gold & 2 battery). Their focus seems to the Kamble Graphite Project in Ghana. more
05/07/2023
Analysis
Updated: Resolute Mining Ltd
Resolute Mining is a mid-tier producer (350,000 oz of production) with two producing mines in West Africa (Mali, Senegal). They have high cash costs ($1100 per oz), with about $1700 all-in costs per oz. Management seems to be competent and has been... more
05/07/2023
Analysis
Updated: Iconic Minerals
Iconic Minerals is a project generator focused in Nevada. They have 2 early exploration gold projects (Midas South & New Pass), but are currently focusing on developing their 100% owned lithium project (Bonnie Claire). They acquired the other 50% of... more
05/07/2023
Analysis
Updated: Tower Resources Ltd
Tower Resources is an exploration company focused in Canada (British Columbia). They have 2 properties on 54,000 acres. Their recent drill results that seemed to have disappointed the market with the stock dropping 76% since the news. They believe the... more
05/07/2023
Analysis
Updated: Ophir Metals Corp.
Ophir Gold is a company exploring for gold in Idaho and Lithium in Quebec. It seems like they are more lithium focused at the moment. They lithium property is in the James Bay Lithium district. Their hasn't been much drilling on the property yet, but... more
05/07/2023
Analysis
Updated: Kootenay Silver Inc
Kootenay Silver (previously Kootenay Gold) is a project generator focused in Mexico. In 2022, they acquired two new properties in Mexico (Columba and Copalito). Both are high-grade discoveries that look interesting. Columba has a 3-kilometer by 4-kilomete more
05/07/2023
Analysis
Updated: Royal Road Minerals Ltd
Royal Road Minerals is a project generator focused in Colombia and Nicaragua. They recently acquired 100% of Santo Domingo project in Argentina. They also signed a 50/50 JV with MSB Holdings in Saudi Arabia to perform exploration work and plan to acquire... more
05/07/2023
Analysis
Added: Besra Gold Inc
Besra Gold is advancing a large gold project in Malaysia. Their Bau project is a 3M oz (1.5 gpt) open project with a lot of high-quality drill targets along a 15-kilometer strike. They it could grow to 5M to 9M oz. That makes it intriguing. Plus, they... more
05/06/2023
Analysis
Updated: Scorpio Gold Corp
Scorpio Gold was a small producer in Nevada (production began in 2011). They had to halt production in 2017 because of high costs. Since then, they have not made much progress. In 2018, they released a feasibility study for Mineral Ridge (12,000 acres)... more
05/06/2023
Analysis
Updated: Minera IRL Ltd
Minera IRL is attempting to become a mid-tier producer in Peru. It is a high risk speculation stock because they have C$82 million in debt and only about $2 million in cash. They have been producing gold in low quantities (25,000 oz per year) at... more
05/06/2023
Analysis
Added: Lefroy Exploration Ltd
Lefroy Exploration is a project generator focused in Australia. They have a 30% JV (Lefroy West) with Gold Fields, who must spend $25M to get a 70% option. Gold Fields is drilling aggressively and has a lot of good drill holes (103 meters at 1.6 gpt, 38... more
05/05/2023
Analysis
Updated: Tocvan Ventures Corp
Tocvan Ventures is a project generator focused in Mexico. They have two small projects. Pilar (500 acres) has had 23,000 meters of drilling and will get its maiden resource in 2022.
Recent drills holes showed 116.9m @ 1.2 g/t Au. Recovery rates look to... more
05/05/2023
Analysis
Updated: Reyna Gold Corp
Reyna Gold is a new project generator focused in Mexico (IPO in 2022). It is led by the same team that started Reyna Silver. They have four early-stage exploration gold projects: La Centella (10,000 acres), La Gloria (60,000 acres), Don Porforio (10,000... more
05/05/2023
Analysis
Added: Magnetic Resources NL
Magnetic Resources is advancing a gold project in Western Australia. Their Lady Julie project appears to be heading to production. The maiden resource was 600K oz at 1.4 gpt, and is likely to grow in size. It is in an ideal location near other mines.... more
05/05/2023
Interview
Don Interviewed on Palisades Radio
https://youtu.be/5hHaYeq9Npw more
05/05/2023
Analysis
Updated: Hannan Metals Ltd
Hannan Metals is a project generator with two large properties in Peru. They have a 33% JV with a Japan corp that is drilling for copper/silver/gold on their San Martin (70,000 acres). Plus, they are planning to do initial drilling their Provisto (100,000 more
05/05/2023
Analysis
Updated: Cantex Mine Development Corp
Cantex Mine Development is a project explorer focused in Canada and Nevada. They have two early exploration properties (North Rackla and Mt Good) in the Yukon. Both are discoveries, although not large enough to be mines yet. In North Rackla they hit some... more
05/05/2023
Analysis
Updated: Strategic Metals Ltd
Strategic Metals is a project generator in the Yukon. Their stock price rose 500% in 2010, and peaked at $4.34 per share in 2011, but has since crashed (along with many gold and silver mining stocks). Their business plan is to drill and find projects and... more
05/05/2023
Analysis
Updated: Aztec Minerals Corp
Aztec Minerals is a new exploration company with two projects. They have an option for 75% of a gold project in Arizona called Tombstone (1,000 acres). Their first phase results include high grade intervals such as 7 gpt gold equivalent over 15 meters.... more
05/05/2023
Analysis
Updated: Maritime Resources Corp
Maritime Resources has a past producing property (Hammerdown - Orion) in Newfoundland (2000 to 2004). It is about 1 year away from restarting production with financing. They completed a feasibility study in 2022, and it is economic with about a 35% after- more
05/04/2023
Analysis
Added: Cannindah Resources Ltd
Cannindah Resources is drilling a gold/silver discovery in Queensland, Australia. It doesn't have a maiden resource yet, and the property isn't that big a 2,300 acres, but early drill results have been impressive.
275 meters at 1.1 gpt AU, .29% CU... more
05/04/2023
Analysis
Added: U.S. GoldMining Inc
U.S. Goldmining was created from a spin-out of Goldmining Inc in 2023. They own the Whistler project in British Columbia. It is a 9.5M oz (.7 gpt) AUEQ project. It's large, but low grade. They do not provide guidance on their plans. I'm listing them as a... more
05/03/2023
Analysis
Updated: Orezone Gold Corp
Orezone Gold recently became a mid-tier producer in West Africa (Burkina Faso). Their first mine (Bombore) began production in Q4 2022. It is a large open pit deposit. In 2017, they had another company analyze the deposit and it was reduced from 4.8... more
05/03/2023
Analysis
Updated: Revival Gold Inc
Revival Gold is developing an open pit project in Idaho. Their Arnett - Beartrack project has 4 million oz (1 gpt). They are targeting restarting the mine in 2025, with a construction decision in 2023. They recently completed a PEA with a capex of $100... more
05/03/2023
Analysis
Updated: Coeur Mining Inc
Coeur Mining has underperformed since 2006. They have to reach $70 per share just to get back to where the share price traded in 2006. However, they have been aggressive, purchasing Orko Silver, Paramount Gold, and a mine from Goldcorp. Plus, they tend... more
05/01/2023
Analysis
Updated: Hummingbird Resources Ltd
Hummingbird Resources is a mid-tier producer in West Africa (Mali). Their Yanofolia open pit is a 1.8 million oz (2.5 gpt) deposit. They are producing around 90,000 oz annually. Cash costs are currently high at around $1000 per oz, with all-in (breakeven) more
05/01/2023
General
April 2023 Newsletter Posted
April 2023 Newsletter Posted. more
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