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10/30/2023
Analysis
Updated: Mantle Minerals Ltd
Mantle Minerals (previously Caeneus Minerals) is a project generator focused in Australia. They are drilling in an area near DeGrey's large Hemi project. They have 3 projects; Mt Berghaus (14,000 Ha), Robert's Hill (46,700 Ha) which is the main target in... more
10/30/2023
Analysis
Updated: Starr Peak Mining
Starr Peak Mining (formerly Starr Peak Exploration) is a project generator focused in Canada. They had a significant high-grade zinc discovery at NewMetal (5,500 acres) and their FD market cap doubled to $78 million in 2021, with a share price of $3.18.... more
10/30/2023
Analysis
Updated: Turaco Gold Ltd
Turaco Gold (previously Manas Resources) is an Australian gold exploration company. They have 4 large properties in Cote d'Ivoire on over 1 million acres. They are drilling three new discoveries. Boundiali (125,000 acres) with 20 meters at 10 gpt. Ferke ( more
10/30/2023
Analysis
Updated: Vizsla Silver Corp
Vizsla Resources is a new company formed in 2019. They purchased a large property (Panuco) in Mexico for $43 million in cash and shares. They still owe $21 million that must be paid over 5 years. This will create some dilution, but they are currently... more
10/30/2023
Analysis
Updated: Tribune Resources Ltd
Tribune Resources is a small gold producer in Australia. They have a 75% JV called East Kundana (EKJV) that is in production. Production is around 28,000 oz annually with 700,000 oz resources (their share). Their profit last quarter was low, but they are... more
10/28/2023
Analysis
Updated: DELETE - Crater Gold Mining Ltd
Crater Gold Mining is trying to become a small producer in Papua New Guinea. Their Crater Mountain project (45,000 acres) has substantial potential in a good location. They planned to begin mining their HGZ (High-Grade Zone) deposit in 2017, but it didn't more
10/28/2023
Analysis
Updated: Noble Mineral Exploration Inc
Noble Mineral Exploration is a project generator focused in Canada. They are exploring multiple projects and metals, many of them related to Cobalt, Nickel, PGM, and REEs. They also have several gold projects. Most recently, they drilled in the northern... more
10/27/2023
Analysis
Updated: Kore Mining
Kore Mining (formerly Eureka Resources) is trying to develop 2 open pit projects, with a combined 4 million oz (.6 gpt). The CEO is a CPA and has never built a mine, and they mention they would be a good target for a mid-tier producer. That’s an odd... more
10/27/2023
Analysis
Updated: Red Rock Resources Plc
Red Rock Resources is a mining, oil and gas, exploration and development company. They have several projects, but only a $5 million FD market cap. Clearly, management has not achieved their objectives. They have projects all over the world.
They own... more
10/25/2023
Analysis
Updated: Caledonia Mining Corp. Plc
Caledonia Mining is an emerging mid-tier producer in Zimbabwe (South Africa). Production is 80,000 oz (their share), but increasing to 230,000 oz. All-in costs (free cash flow) are about $1250 per oz. They have free cash flow, $15 million in cash, and... more
10/25/2023
Analysis
Updated: P2 Gold Inc
P2 Gold is a project generator focused in Canada and the USA. They have one advanced project (Gabbs) in Nevada on 7,500 acres. It is a 1.5 million oz @ 0.5 gpt au (0.77 gpt AuEq) with 400 million lbs of copper for offsets. They released a PEA indicating... more
10/24/2023
Analysis
Updated: VR Resources Ltd
VR Resources is a project generator focused in Canada and Nevada. They are drilling a copper/gold project in Canada (Ranoke) and in Nevada (Big Ten). They also have five early exploration gold projects in Nevada. They are drilling Bonita (8,000 acres)... more
10/23/2023
Analysis
Updated: Contango Ore Inc
Contango Ore is a new term producer in Alaska (Kinross is the operator). They have a 30% interest in the Peak Gold JV (Manh Cho) project which they discovered. Kinross is advancing it to production in 2024. The capex is $180 million and Contango has $30... more
10/22/2023
Analysis
Updated: Amani Gold Ltd
Amani Gold (previously Burey Gold) has a 65% ownership in a large open pit project in Central Africa. The Giro Gold Project comprises of two permits in the Moto Greenstone Belt (DRC) on 125,000 acres. They have been drilling since 2014 with good results.... more
10/21/2023
Analysis
Updated: Amaroq Minerals Ltd
Amaroq Minerals (formerly AEX Gold) is in the process of restarting a gold mine in Greenland. Nalunaq is a past-producing mine with 250,000 oz at 18 gpt. Production stopped in 2009. They think exploration will increase the deposit to 1 million oz at 18... more
10/21/2023
Analysis
Updated: Golconda Gold
Golconda Gold (formerly Galane Gold) is a small gold producer in South Africa. The Galaxy underground mine has 1.5 million ounces (970k are M&I), but they lost money in 2022 with production of only 10,000 oz, while in 2023 production declined even... more
10/20/2023
Analysis
Updated: DELETE - BBX Minerals Ltd
BBX Minerals is an Australian-based project generator with two PGM projects in Brazil. Ema (4,000 acres) and Tres Estados (2,500 acres) are both in the early exploration stage with limited drilling. They have a combined PGM resource of 1.3 million ounces... more
10/20/2023
Analysis
Updated: Silver North Resources
Silver North Resources (previously Alianza Minerals) was created in 2015 from the combination of Tarsis Resources and Estrella Gold. It is a project generator without an advanced project. They have several early exploration projects in the Yukon,... more
10/20/2023
Analysis
Updated: Saturn Metals Ltd
Saturn Metals is advancing a large gold project, Apollo Hill, in Australia (250,000 acres). It is a 1.8 million oz open pit deposit, which continues to grow in size. However, the grade remains at just 0.54 g/t (fresh, not oxide). Recently, they released... more
10/20/2023
Analysis
Updated: Krakatoa Resources Ltd
Krakatoa Resources is a project generator located in Australia. They are exploring several projects in Australia. They have both rare earth projects (Mt Clere and Dalgaranga) and gold projects (Rand, Belgravia, Turon). All of them are early exploration,... more
10/19/2023
Analysis
Updated: Laurion Mineral Exploration Inc
Laurion Mineral Exploration is a gold development company focused in Canada. They have a single project (Ishkoday) in Ontario. It is a past-producing high-grade underground gold mine (17 gpt) from the 1940s. They have targeted 100,000 meters of drilling... more
10/18/2023
Analysis
Updated: Red Rock Resources Plc
Red Rock Resources is a mining, oil and gas, exploration and development company. They have several projects, but only a $5 million FD market cap. Clearly, management has not achieved their objectives. They have projects all over the world. They do not... more
10/18/2023
Analysis
Updated: Aurion Resources Ltd
Aurion Resources has a large high-grade gold discovery (Risti-Aamuruska) in Finland. Drilling has just begun, but they have 3400 samples averaging 10 gpt. This property is on 35,000 acres, but they have 500,000 acres in Northern Finland. They are... more
10/16/2023
Analysis
Updated: Novagold Resources Inc
NovaGold Resources has a huge advanced gold project in Alaska. Donlin is a 45 million oz resource at 2.2 gpt (they own 50%), which is one of the highest-grade large open pit mines in the world. They are projecting cash costs of $600 per oz. However,... more
10/15/2023
Analysis
Updated: Capella Minerals Ltd
Capella Minerals (formerly New Dimension Resources) is a project generator focused in Sweden, Finland, Canada, and Argentina. All are early exploration, with several JVs optioned to partners. They currently seem to be focusing on copper and lithium in... more
10/14/2023
Analysis
Updated: Ridgeline Minerals Corp
Ridgeline Minerals is a new project generator focused in Nevada. They have a low-grade Ag-Au-Pb-Zn CRD discovery (Carbonate Replacement Deposit) with a potentially open-pit resource named Selena, spanning 6,000 acres. The headline results are promising,... more
10/14/2023
Analysis
Added: Marmota Ltd
Marmota Ltd is a project generator focused in Australia. They are drilling a high grade gold discovery (Aurora Tank). They don't have a company presentation and I don't feel like I understand their project. They do own it 100%, but it appears to be on a... more
10/13/2023
Analysis
Updated: Nagambie Resources Ltd
Nagambie Resources is a project generator focused in Australia. They have a 50% ownership in the Nagambie Au-Sb project (512,000 acres) in Victoria. So far, drill results have been very narrow, which is not uncommon. This kind of gold-antimony deposit is... more
10/13/2023
Analysis
Updated: Ora Banda Mining Ltd
Ora Banda Mining is an emerging mid-tier producer in Australia. They were a producer in 2018, but ran into financial issues. They renamed the company and recapitalized their debt, which was eliminated. They currently have only $8M in debt and $25M in... more
10/13/2023
Analysis
Added: Onyx Gold Corp
Onyx Gold is a project generator focused in Canada. They were formed in 2023 by a spin-out from Highgold Mining, which gave shareholders 25% of the new company. They have two groups of properties. One group is in the Yukon near Snowline Gold's large... more
10/12/2023
Analysis
Updated: Fury Gold Mines Ltd
Fury Gold Mines was created in October 2020 from the merger between Auryn Resources and Eastmain Resources. This left them with three quality gold projects. They sold one to Dolly Varden in exchange for 59M shares of Dolly Varden, currently worth $30M,... more
10/12/2023
Analysis
Added: Rackla Metals Inc
Rackla Metals is a new project generator focused in Canada. They have about 9 properties on the Yukon/NWT border. All are early exploration. They all appear to be small properties and they do not list their sizes on the website (a bad sign). Simon... more
10/11/2023
Analysis
Added: Allied Gold Corp
Allied Gold is a gold producer in West Africa and East Africa. They have large resources (17M oz's) and are a growth story. They plan to expand production from 375,000 oz's in 2023 to 620,000 oz in 2026. Plus, they have another project in Egypt they are... more
10/10/2023
Analysis
Updated: DELETE - Shanta Gold Ltd
Shanta Gold is a mid-tier producer in Tanzania. Their New Luika open-pit mine is a 1.1 million oz resource (4 gpt). 2023 production will be about 65,000 oz, with around $1400 all-in costs (free cash flow). Thus, they are profitable at low gold prices.... more
10/10/2023
Analysis
Updated: Tristar Gold Inc
TriStar Gold is advancing an open pit project (CDS) to production in Brazil. It is on 70,000 acres, and they think it has a 10-mile trend of mineralization for exploration. CDS is 2 million oz (1 gpt), with 1.4 million oz of reserves (1 gpt).
They... more
10/09/2023
Analysis
Updated: Guanajuato Silver
Guanajuato Silver is an emerging mid-tier silver producer in Mexico. They acquired the El Cubo mine from Endeavour Silver. Then they acquired the Valenciana, San Ignacio, and Topia mines from Great Panther. All of the mines except Topia are located in... more
10/09/2023
Analysis
Updated: Excellon Resources Inc
Excellon Resources was a small silver producer in Mexico. Their La Platosa property (50,000 acres) was producing 1 million oz (500 gpt). That is one of the highest grade silver mines in Mexico. However, high costs forced them into care and maintenance in... more
10/08/2023
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 400,000 oz. Their costs have exploded, with an AISC of $1650 last Qtr.... more
10/07/2023
Analysis
Updated: Greatland Gold Plc
Greatland Gold is a London-based stock with several exploration properties (375,000 acres) in Australia and Tasmania. One of those properties (Havieron) is a 30% JV with Newcrest Mining. It has a $600 million capex and is funded for construction next... more
10/07/2023
Analysis
Updated: Tudor Gold Corp
Tudor Gold has one large project (Treaty Creek) in the golden triangle in British Columbia. Treaty Creek (45,000 acres). Early drill results in 2019 increased their FD market cap to $77 million. Then in 2020, it jumped to $458 million. One drill hole was... more
10/06/2023
Analysis
Updated: NevGold Corp
NevGold Corp is a project generator focused in Nevada, Idaho, and British Columbia. In 2022, they acquired the Nutmeg project (1 million oz at .65 gpt) in Idaho. They paid $9M in shares, and still owe $6M in shares in 2023/24. They plan to do a PEA, but... more
10/06/2023
Analysis
Updated: Emx Royalty Corp
EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 50+ projects (many are available for option) in about 10 countries. They have a capable CEO (David Cole) who is generating stockholder value and aggressively growing the... more
10/06/2023
Analysis
Updated: Peruvian Metals
Peruvian Metals (previously Duran Ventures) is an early project generator in Peru, but also a toll miner. They own 50% in the Palta Dorada project, and own 80% in a nearby 100 tpd mill (Aguila Norte). They want to expand the mill to 500 tpd and to use a... more
10/06/2023
Analysis
Updated: Vast Resources Plc
Vast Resources is a small copper/gold producer in Romania. It does not generate a lot of cash and has substantial debt, which it reduced by issuing shares (it has almost 4 billion shares). The company presentation is more than a year old, so I couldn't... more
10/06/2023
Analysis
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). Newcrest has a 75% option. It looks like Newcrest has opted in and has begun drill work, but they don't have an updated corporate presentation so it's tough to... more
10/05/2023
Analysis
Updated: XXIX Metal Corp
QC Copper and Gold is advancing a large copper and gold project (Opemiska) in Quebec. They have a maiden resource, but no PEA. They plan to drill for a couple of years and then do a PEA. They have 1.3 billion lbs of copper, plus significant gold offsets ( more
10/05/2023
Analysis
Updated: District Metals Corp
District Metals is a project generator focused in Sweden. They are drilling their Tomtebo project (12,500 acres). It is a past-producing property with historical drilling. It is a polymetallic mine which historically produced mainly copper, but drill... more
10/05/2023
Analysis
Updated: Northisle Copper & Gold Inc
Northisle Copper and Gold has a large copper/gold project (Hushamu) in Canada. The location is excellent, near an existing mine in British Columbia. If you like copper, this could be a very good speculation stock. They have a PEA from 2021 with a $1.4... more
10/05/2023
Analysis
Updated: Emmerson Resources Ltd
Emmerson Resources is a project generator focused in Australia. They have a significant high-grade discovery (Tennant Creek) that is driving their share price higher. Tennant Creek is a 25% JV with the potential to become a large mine. They recently did... more
10/05/2023
Analysis
Updated: Far East Gold Ltd
Far East Gold is a new company that did an IPO in 2022. However, they have several advanced exploration projects. One of their projects has 1 million oz of gold, but that is not why it has a FD market cap around $100 million. Investors like it because... more
10/05/2023
Analysis
Updated: Great Boulder Resources Ltd
Great Boulder Resources is a project generator focused in Australia. They have several projects, but their focus is Side Well, which appears to be a significant discovery and likely large mine. They are drilling two discovery deposits (Mulga Bill and... more
10/05/2023
Analysis
Updated: SSR Mining Inc
SSR Mining (previously Silver Standard Resources) has become mostly a gold mining company. They purchased the Marigold mine in 2013 from Barrick Gold in Nevada. This was a good deal. Marigold will give them 200,000 oz of gold production for 15 years. It†more
10/05/2023
Analysis
Updated: Midland Exploration Inc
Midland Exploration is a project generator with 31 projects on 600,000 acres in Quebec and Ontario. They have 6 JVs (gold projects), including deals with Agnico Eagle, Osisko, IAMGold, Teck and Soquem. However, none of them are advanced projects.
The... more
10/03/2023
Analysis
Updated: Aris Mining Corp
Aris Mining (previously GCM Mining and Gran Colombia Gold) is mid-tier producer in Colombia. In 2022, they acquired Aris Mining in a merger of equals and took their name. They now have 23 million oz of resources and plan to expand production to around... more
10/03/2023
General
Don interviewed by SeekingAlpha.
https://seekingalpha.com/article/4638686-gold-silver-and-why-all-mining-stocks-are-speculative-investments-with-don-durrett more
10/02/2023
Analysis
Updated: Kuya Silver Corp
Kuya Silver is a new silver developer in Peru. They recently acquired the Bethania property and mine (12,000 acres). It has been in private hands and operating off and on for 40 years. Recently it was producing 400,000 oz per year. It does not have a... more
10/01/2023
General
September 2023 Newsletter Posted
September 2023 Newsletter Posted. more
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