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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
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
05/15/2024
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
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
05/14/2024
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: 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: Ophir Gold 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: 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: 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
05/06/2024
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
05/04/2024
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: 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: 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: 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
05/04/2024
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: 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
05/03/2024
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: 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: 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
05/03/2024
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: 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: 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: 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
05/02/2024
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
05/02/2024
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
05/01/2024
General
April 2024 Newsletter Posted
April 2024 Newsletter Posted. more
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