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05/31/2024
Analysis
Updated: Lefroy Exploration Ltd
Lefroy Exploration is a project generator focused in Australia. They have three gold projects and are drilling them simultaneously. Lefroy East (50,000 acres) has many targets and approximately 1 million ounces (indicated + inferred). Another project is... more
05/31/2024
Analysis
Updated: Prospector Metals Corp
Prospector Metals (formerly Ethos Gold) is a project generator focused in Canada. They have several exploration gold and base metals projects, but no discoveries.
They seem be focused on their ML property in the Yukon (12,000 acres). It looks like it... more
05/31/2024
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, although that might be changing. They acquired Altus Resources in 2023, which... more
05/31/2024
Analysis
Updated: Southern Hemisphere Mining
Southern Hemisphere Mining is a project generator. They had a joint venture in Chile with Hudbay Minerals (a major copper producer) on their Llahuin copper/gold project, but Hudbay terminated the option. After the termination of the JV, they decided to... more
05/30/2024
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 2025. Once they get their EIA permit, they plan to... more
05/29/2024
Analysis
Updated: 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 9M oz (.5 gpt AU) deposit, plus copper and silver offsets. It's large, but low grade. They do not provide guidance on their... more
05/29/2024
Analysis
Updated: Minaurum Gold Inc
Minaurum Gold is a project generator with 6 projects in Mexico. They have an experienced team and a strong Board of Directors. They are advancing their Alamos property (90,000 acres), which has numerous drill targets (about 26 known veins). They will... more
05/28/2024
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
05/28/2024
Analysis
Updated: Robex Resources Inc
Robex Resources is a 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 Mali properties... more
05/27/2024
Analysis
Updated: Western Copper & Gold Corp
Western Copper & 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 $2.8 billion, although they appear to be moving toward a construction decision. The feasibility was... more
05/27/2024
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 25,000 oz annually with all-in costs are around $1400 per... more
05/27/2024
Analysis
Updated: Western Copper & Gold Corp
Western Copper & 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 $2.8 billion, although they appear to be moving toward a construction decision. The feasibility was... more
05/26/2024
Analysis
Updated: Prime Mining Corp
Prime Mining is advancing a large gold/silver project in Mexico. They acquired the Los Reyes project from Vista Gold a few years ago. It is a high-grade oxide open-pit gold project in Mexico. It has 2.5 million oz of 1.5 gpt gold equivalent (including... more
05/26/2024
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).
Thorn is their flagship... more
05/25/2024
Analysis
Updated: Viva Gold Corp
Viva Gold is advancing a small open-pit gold project called Tonopah in Nevada. They have 600,000 ounces at 0.8 gpt, with only two-thirds of them in the Measured and Indicated category, assuming a cut-off grade of 0.15 g/t. In 2020, they released a PEA,... more
05/25/2024
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 $1.21. Once again, Eric Sprott (15% owner) has another winner. I liked this stock at 30 cents and knew it was... more
05/25/2024
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
05/25/2024
General
Don Interviewed on Liberty & Finance
https://www.youtube.com/watch?v=F5k1VPmKiQI more
05/24/2024
Analysis
Updated: Blackrock Silver
Blackrock Silver is a project generator focused in Nevada. They are drilling their Tonapah West (6,300 acres) project. The resource has grown to 100M oz AGEQ (including gold) at 500 gpt AGEQ. The grade is excellent. It should be worth $2 per oz when they... more
05/24/2024
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
05/24/2024
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 project in British Columbia, which was formerly a mining camp with approximately 25 past-producing mines, including the Silvana Mine... more
05/23/2024
Analysis
Updated: De Grey Mining Ltd
De Grey Mining has a large open pit gold project in Australia. Their Hemi project is large with 375,000 acres and is 60 miles long. It has a lot of exploration potential. The resource is 13 million oz (1.5 gpt) and growing in size. The location is ideal... more
05/23/2024
Analysis
Updated: Pasofino Gold Ltd
Pasofino Gold (formerly Enforcer Gold) acquired the Dugbe project (in Liberia) from Hummingbird Resources in 2020 (who holds 51% of Pasofino shares). They released a feasibility study in 2022 and plan to take it to production (although the $400M capex... more
05/22/2024
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
05/22/2024
Analysis
Updated: Lundin Gold Inc
Lundin Gold has turned their Fruta Del Norte mine in Ecuador into a cash flow machine. It is an 9M oz high-grade deposit, with a low AISC of around $900. They will mine around 475,000 oz in 2024, with FCF over $400M.
They paid off their debt and are... more
05/18/2024
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
05/18/2024
Analysis
Updated: 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, increased to 1.3M oz in 2023, and is likely to grow in size. It is in an ideal... more
05/17/2024
Analysis
Updated: 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 think it could grow to 5M to 9M oz. That makes it intriguing.... more
05/17/2024
Analysis
Updated: Canterra Minerals Corp
Canterra Minerals is a project generator focused on Canada. They own four projects that they acquired from NorZinc ("the VMS projects"). Their primary focus is the Lemarchant project, which has a modest resource that they are attempting to expand. Most... more
05/17/2024
Analysis
Updated: Evolution Mining Ltd
Evolution Mining is a large gold producer in Australia and Canada. They have 5 producing mines in Australia and 1 in Canada, and will produce about 750,000 oz in 2024. They have moderate cash costs (about $900 per oz) and are very profitable. They have $1 more
05/16/2024
Analysis
Updated: Pan American Silver Corp
Pan American Silver is one of the largest silver producers, but they are currently primarily a gold producer. They get about 20% of their revenue from silver production and about 65% from gold. The rest comes from base metals (zinc, lead, and copper).... more
05/15/2024
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
05/15/2024
Analysis
Added: Group Eleven Resources Corp
Group Eleven Resources is drilling a zinc/silver discovery (Ballywire) in Ireland. They have a lot of drill targets on 150,000 acres. They already have one significant discovery on PG West, with drill holes of 10 meters at 14% zinc (plus 400 gpt silver),... more
05/15/2024
Analysis
Added: Emperor Metals Inc
Emperor Metals is a new project (formed in 2023) explorer focused in Canada. They acquired an option for the Duquesne project (3,500 acres) in Quebec. It has a 720,000 oz (5 gpt) historical deposit, with extensive drilling. It is a potential open pit /... more
05/14/2024
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 only 1M oz (at 4.5 gpt)... more
05/10/2024
Analysis
Updated: Ophir Metals Corp.
Ophir Gold is exploring for gold in Idaho and lithium in Quebec. Currently, they are more focused on lithium. Their lithium properties, Radis and Pilipas, are located in the James Bay Lithium District. There hasn't been much drilling on the property yet;... more
05/10/2024
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 with... more
05/10/2024
Analysis
Updated: Discovery Silver Corp
Discovery Silver is advancing a large silver project (Cordero) in Mexico. Cordero has about 1.2 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
05/10/2024
Analysis
Updated: Tower Resources Ltd
Tower Resources is an exploration company focused on British Columbia. They have three properties on 70,000 acres. Their drill results at Rabbit North have disappointed the market, with the stock dropping 75% from its highs in 2023.
They believed that... more
05/09/2024
Analysis
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is a growing mid-tier silver producer in Mexico. They will produce about 2.5 million oz of silver equivalent in 2024 with break-even costs around $25 per oz (free cash flow). We will need to keep an eye on their costs.
In 2023,... more
05/09/2024
Analysis
Updated: First Andes Silver
First Andes Silver (formerly known as Mantaro Precious Metals) is a new company operating in Bolivia. They have disposed of most of their properties to focus their efforts on the Santas Gloria project in Bolivia. It is a 12-km trend of multiphase, high-gr more
05/08/2024
Analysis
Updated: Newmont Corp
Newmont Corp is a solid major, although growth will be flat at around 6.5 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 ($48... more
05/06/2024
Analysis
Updated: Aya Gold & Silver Inc
Aya Gold & Silver is an emerging mid-tier silver producer in Morocco. Zgounder is a large silver project (100 million oz at 250 gpt AG) producing about 3 million oz a year. They plan to increase production to 7 million oz in Q4 2024. The capex is $140... more
05/06/2024
Analysis
Updated: Kootenay Silver Inc
Kootenay Silver (previously Kootenay Gold) is a project generator focused in Mexico. In 2022, they acquired an exciting property (Columba). It is a high-grade discovery that looks like a large mine. Columba has a 3-kilometer by 4-kilometer footprint of... more
05/04/2024
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
05/04/2024
Analysis
Updated: Newcore Gold Ltd
Newcore Gold (previously Pinecrest Resources) has a gold project (Enchi) in Ghana, West Africa.
They completed an updated PEA in 2024 with an after tax NPV of $371M with an IRR of 58% at $1,850 gold. Capex is $106M with a 1.6 year payback period. The... more
05/04/2024
Analysis
Updated: Adyton Resources Corp
Adyton Resources is a new company formed in 2021. They have two island projects in Papua New Guinea. Feni Island (Kabang) has 1.5 million oz (.75 gpt), plus copper. If they resume drilling it will grow in size. They think there's more copper to be found... more
05/04/2024
Analysis
Updated: Royal Road Minerals Ltd
Royal Road Minerals is a project generator focused in Argentina, Morocco & Saudi Arabia. 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. They... more
05/04/2024
Analysis
Updated: Maritime Resources Corp
Maritime Resources has a past producing property (Green Bay) in Newfoundland (2000 to 2004). It is about 1 year away from restarting production with financing. They updated their feasibility study in Q1 2024, and it is economic, with an AISC under $1,000. more
05/04/2024
Analysis
Updated: Tocvan Ventures Corp
Tocvan Ventures is a project generator in Mexico. They have two small projects, with Pilar (500 acres) being their main focus, they have undergone more than 25,000 meters of drilling but still lacks a maiden resource estimate. The drill holes are... more
05/04/2024
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
05/03/2024
Analysis
Updated: Revival Gold Inc
Revival Gold is developing an open pit and underground project in Idaho (Beartrack-Arnett), plus another open pit project in Utah (Mercur). Beartrack-Arnett is 4 million oz (1 gpt) and growing in size. They are targeting a construction decision in 2025.... more
05/03/2024
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 80,000 oz annually. In Q1, the AISC was high at around $1600, with all-in (breakeven) costs... more
05/03/2024
Analysis
Updated: Royal Road Minerals Ltd
Royal Road Minerals is a project generator focused in Argentina, Morocco & Saudi Arabia. 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. They... more
05/03/2024
Analysis
Updated: Azimut Exploration Inc
Azimut Exploration is a project generator focused in Northern Quebec. They own 5 properties in the James Bay region which is an emerging lithium producer. They have a very low amount of shares out for the amount of properties they own.
In January... more
05/03/2024
Analysis
Updated: Labrador Gold Corp
Labrador Gold is a project generator focused in Canada. They have 2 exploration projects. Hopedale has 5 years of drilling that has outlined some potential gold, copper, nickel & zinc. There hasn't been much drilling lately at their Borden Lake property.... more
05/03/2024
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 1.44 million oz deposit (2.35 gpt). They have an option to obtain 80% from First Mining Gold. Hope Brook was in production in 1997, so it has... more
05/03/2024
Analysis
Updated: Cantex Mine Development Corp
Cantex Mine Development is a project generator in Canada. They own an early-stage exploration property, North Rackla, in the Yukon. They have encountered extremely high-grade Zinc-Lead-silver deposits, but they have yet to demonstrate significant size or... more
05/02/2024
Analysis
Updated: 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 at 2,300 acres, but early drill results have been impressive. They are low on cash, so expect share... more
05/02/2024
Analysis
Updated: 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 at 2,300 acres, but early drill results have been impressive. They are low on cash, so expect share... more
05/02/2024
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
05/02/2024
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
05/02/2024
Interview
Don Interviewed on Palisades Radio
https://youtu.be/gcoJVudizts?si=MAkKtjzlFxnxNgg- more
05/02/2024
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 at around 5 million oz. They own 90%. Plus, the property has excellent exploration... more
05/01/2024
General
April 2024 Newsletter Posted
April 2024 Newsletter Posted. more
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