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06/30/2024
Analysis
Updated: Solgold Plc
Solgold has a very large copper/gold project (Cascabel-Alpala) in Ecuador. It has 30 million oz (.35 gpt) of gold and 10+ billion lbs of copper. They will mine 350,000 oz of gold annually at very low cash costs using copper offsets (200,000 tons a year).... more
06/29/2024
Analysis
Updated: Goliath Resources
Goliath Resources is a project generator focused in Canada. They have a large gold discovery at Golddigger (42,000 acres) in the Golden Triangle of British Columbia. It has expanded to a 1800-hectare mineralized area with many drill targets. They have... more
06/29/2024
Analysis
Updated: Atico Mining Corp
Atico Mining is a small copper/gold producer in Colombia. Their El Roble mine is primarily a copper mine and is currently marginal at best. Its reserves are expected to last for 5 more years, necessitating further exploration to sustain operations and... more
06/29/2024
Analysis
Updated: Regulus Resources Inc
Regulus Resources has a large copper/gold/silver project in Peru. They acquired Southern Legacy Minerals in 2014, which had a 5 billion lb copper project (Antakori) in Peru, with 4.5 million oz of gold (.35 gpt) and 125 million oz of silver. Since then... more
06/29/2024
Analysis
Updated: NGEx Minerals Ltd
NGEx Minerals has a huge copper/gold project (Los Helados) in Chile. They own 67%. It has 18 billion lbs of copper, plus a large amount of gold (10 million oz) and silver (97 million oz). However, the grades for gold (.15 gpt) and silver (1.5 gpt) are... more
06/28/2024
Analysis
Updated: Pantoro Ltd
Pantoro Ltd is a mid-tier producer in Australia. They are producing around 100,000 oz (Norseman). The Norseman project has a 2 million oz underground (5+ gpt) and 2 million oz open pit (2 gpt) project. Both are currently in production.
They have a... more
06/28/2024
Analysis
Updated: Falcon Gold Corp
Falcon Gold is a project generator focused on Canada, Argentina, and Chile. They hold approximately 20 early exploration properties without any significant discoveries to date. Progress seems stagnant, but a single discovery could change their trajectory. more
06/27/2024
Analysis
Updated: Tesoro Gold
Tesoro Gold (previously Tesoro Resources) is advancing a gold project in Chile. They have a significant gold discovery (El Zorro) that they are drilling. It is a new discovery with a resource of 1.5 million oz at 1.2 gpt. It appears to be a 2+ million oz... more
06/26/2024
Analysis
Updated: Fortitude Gold Corp
Fortitude Gold is a new company based in Nevada. They are producing 40,000 oz and are profitable with all-in costs around $1300 per oz. Plus, they have a strong balance sheet with $48 million in cash with no debt, and pay a dividend. They have low... more
06/22/2024
Analysis
Updated: Carolina Rush Corp
Carolina Rush Corp (formerly Pancon Resources) is a project generator with two projects in South Carolina. Their main focus is the Brewer-Jefferson property (2,500 acres), a past-producing mine from 1995. The property is significantly de-risked from an... more
06/22/2024
Analysis
Updated: TRX Gold Corp
TRX Gold (formerly Tanzanian Gold Corp) is small producer in East Africa at (Buckreef) in Tanzania (4,000 acres). They are producing 25,000 oz (their share) at around $900 cash costs, and plan to double production in 2025. It's a 2 million oz (1.5 gpt)... more
06/22/2024
Analysis
Updated: Condor Resources Inc
Condor Resources is a project generator focused in Chile and Peru. They have 12 properties and 2 JVs, all of which are early-stage exploration. Currently, they are drilling two projects (Pucamayo and Quriurqu).
Their Soledad JV with Chakana Copper,... more
06/21/2024
Analysis
Updated: Rokmaster Resources Corp
Rokmaster Resources is an exploration company focused in British Columbia. They entered a very expensive JV project called Revel Ridge, requiring them to pay $44 million over 5 years. After a resource estimate and a preliminary feasibility study (PFS),... more
06/21/2024
Analysis
Updated: Rugby Resources Ltd
Rugby Resources is a project generator. They are currently focused on a copper/moly project (Cobrasco) in Colombia. They just started a phase one drilling program there. This was discovered in the 1980's but never drilled.
They also have several... more
06/20/2024
Analysis
Updated: Vault Minerals
Red 5 Ltd is a large mid-tier producer in Australia. They have 3 producing mines in Western Australia at 425,000 oz. Their AISC is around $1350, with a breakeven (FCF) cost of around $1600 per oz. They have 12M oz of resources and their mines are all... more
06/20/2024
Analysis
Updated: Vault Minerals
Red 5 Ltd is a large mid-tier producer in Australia. They have 3 producing mines in Western Australia at 425,000 oz. Their AISC is around $1350, with a breakeven (FCF) cost of around $1600 per oz. They have 12M oz of resources and their mines are all... more
06/19/2024
Analysis
Updated: Wildcat Resources Ltd
Wildcat Resources is a project generator focused in Australia. They have a gold discovery, but that is not their focus. They had a significant lithium discovery (Tabba) in Western Australia. They were able to raise $100M AUD in 2023 to drill this... more
06/18/2024
Analysis
Added: Australian Gold and Copper Ltd
Australian Gold & Copper is a project generator focused in Australia (NSW). They have three large properties and one discovery. Their discovery is the Achilles deposit (copper/gold) on the Moorefield property (250,000 acres). They are currently... more
06/18/2024
Analysis
Updated: Sun Silver Ltd
Sun Silver is a new company that did an IPO in 2024. They are based in Australia and trade on the ASX. They acquired the Maverick Springs silver/gold project in Nevada. It's a large deposit, with 175M oz AG at 45 gpt, and 290M oz AGEQ (including gold)... more
06/18/2024
Analysis
Updated: Lahontan Gold Corp
Lahontan Gold is an exploration company focused in Nevada. They are advancing their Santa Fe (6,000 acres) project. They released a maiden resource of 1.6M oz (1.1 gpt) AUEQ in 2022. About 50% are oxides, which are easy to mine. It is a past-producing... more
06/18/2024
Analysis
Updated: Sun Silver Ltd
Sun Silver is a new company that did an IPO in 2024. They are based in Australia and trade on the ASX. They acquired the Maverick Springs silver/gold project in Nevada. It's large deposit, with 175M oz AG at .45 gpt, and 290M oz AGEQ (including gold) at... more
06/18/2024
Analysis
Updated: Sun Silver Ltd
Sun Silver is a new company that did an IPO in 2024. They are based in Australia and trade on the ASX. They acquired the Maverick Springs silver/gold project in Nevada. It's large deposit, with 175M oz AG at .45 gpt, and 290M oz AGEQ (including gold) at... more
06/17/2024
Analysis
Updated: Cerro de Pasco Resources Inc
Cerro de Pasco Resources is trying to advance a large tailings project (Cerro de Pasco) in Peru. It is an estimated 450 million oz AGEQ deposit with 3 plants at 20,000 tpd. They have a scoping study to produce 272 million oz AGEQ over 15 years, with an... more
06/17/2024
Analysis
Updated: Cerro de Pasco Resources Inc
Cerro de Pasco Resources is trying to advance a large tailings project (Cerro de Pasco) in Peru. It is an estimated 450 million oz AGEQ deposit with 3 plants at 20,000 tpd. They have a scoping study to produce 272 million oz AGEQ over 15 years, with an... more
06/17/2024
Analysis
Added: ATEX Resources Inc
ATEX Resources is advancing a large copper/gold project (Valeriano) in Chile. It currently has 15B lbs of copper and 9M oz of gold, and is growing in size. The plan to release a PEA in 2025. The capex will be massive, which is keeping their valuation... more
06/16/2024
Analysis
Updated: Talisker Resources Ltd
Talisker Resources is advancing a large gold project (Bralorne) in British Columbia. It is fully funded via a $30M gold stream and is permitted. They are giving guidance to begin production in Q3 2024. That’s the good news. The bad news is they do not... more
06/16/2024
Analysis
Updated: Awale Resources
Awale Resources was formed in 2016. They are a project generator exploring for gold in West Africa (Cote D'Ivorie). They have 2 properties on 700,000 acres and have an application to expand that to about 1 million acres.
They have a 25% JV with... more
06/16/2024
Analysis
Updated: Awale Resources
Awale Resources is a new company formed in 2016. They are a project generator exploring for gold in West Africa (Cote D'Ivorie). They have 2 properties on ~700,000 acres and they have an application to expand that to about 1 million acres.
Their... more
06/16/2024
Analysis
Updated: Probe Gold Inc
Probe Metals has a 5 million oz deposit in Ontario (Novador). It is half open pit and half underground. They drilled 160,0000 meters in 2022, so it will grow in size. They released an updated PEA in 2024 with a capex of $450 million (likely to exceed $500 more
06/15/2024
Analysis
Added: Sun Silver Ltd
Sun Silver is a new company that did an IPO in 2024. They are based in Australia and trade on the ASX. They acquired the Maverick Springs silver/gold project in Nevada. It's large deposit, with 175M oz AG at .45 gpt, and 290M oz AGEQ (including gold) at... more
06/15/2024
Analysis
Updated: Eagle Plains Resources Ltd
Eagle Plains Resources is a project generator in Western Canada that has been operating since 1992. They have accumulated more than 30 projects in favorable locations, including Yukon, British Columbia, Saskatchewan, and the Northwest Territories. About... more
06/15/2024
Analysis
Updated: Lavras Gold Corp
Lavras Gold is a new company formed as a spinout after Amarillo Gold was acquired by Hochschild in 2023. It was formed by the Amarillo Gold management team. Thus, they know how to advance a project to a construction decision in Brazil.
They have one... more
06/14/2024
Analysis
Updated: Odyssey Gold Ltd
Odyssey Gold is a project generator focused in Australia. They have two early exploration projects, Tuckanarra and Stakewell, which are past-producing open-pit properties. Both properties are adjacent to each other, covering 35,000 acres, and have... more
06/13/2024
Analysis
Updated: Vista Gold Corp
Vista Gold has a large project in Australia called Mt Todd (8 million oz at .8 gpt, with 90% recovery rate). They are currently looking for a JV partner to build and operate the project. They might sell for a small premium, but that seems unlikely since... more
06/13/2024
Analysis
Updated: Endeavour Mining Corp
Endeavour Mining is a large gold producer in West Africa, with 4 operating mines in 3 countries. Their market cap has jumped to $5.3 billion. They are producing 1.2 million oz with all-in costs (free cash flow) around $1400 per oz. They have large... more
06/13/2024
Analysis
Updated: Defiance Silver Corp
Defiance Silver has a high-grade silver discovery in Mexico. In 2011, they obtained a $5.5 million option to purchase the historic San Acacio mine in the Zacatecas Silver District (I'm not sure if the remaining $4.6 million has been paid). They have had... more
06/12/2024
Analysis
Updated: Metallic Minerals Corp
Metallic Minerals (previously Monster Mining) is a new project generator in Canada (Yukon). They have a silver discovery (Keno Hill) that is adjacent to Alexco's large high-grade silver deposit. It's on 27,000 acres and they have identified more than a... more
06/12/2024
Analysis
Updated: Sidney Resources Corp
Sidney Resources is advancing a large high-grade gold project in Idaho. They have two properties. They are focusing on their Warren (420 acres) property. It has a resource estimate from 1980s at 3M tons at 1 opt. It’s not a 43-101. And is only an... more
06/11/2024
Analysis
Updated: Artemis Resources Ltd
Artemis Resources is an Australian mining company with two projects and a processing plant in Western Australia. Recently, a world-class discovery of 275 meters at 4.7 gpt was made at Havieron next to one of their properties (Paterson). They seem to have... more
06/11/2024
Analysis
Updated: Sarama Resources Ltd
Sarama Resources was advancing a large gold project in West Africa (Burkina Faso). Sanutura (350,000 acres) is a 2.9 million oz deposit at 1.5 gpt. They lost their permit in 2023. Management claims it was taken illegally. They will likely file a lawsuit.... more
06/11/2024
Analysis
Updated: Oceanagold Corp
OceanaGold is a large mid-tier producer. They have 10 million oz in resources (1.4 gpt) and will produce 500,000 oz in 2024 with all-in costs (break-even) around $1800 per oz. Break-even costs should drop to around $1700 per oz in the next couple of... more
06/11/2024
Analysis
Updated: Elemental Altius Royalties Corp
Elemental Altus Royalties is a royalty company. They successfully fought off a hostile takeover attempt from Gold Royalty Corp and created a merger of equal with Altus Strategies in August 2022. They spun off their copper portfolio in October 2022 and... more
06/10/2024
Analysis
Updated: Trailbreaker Resources
Trailbreaker Resources (formerly Goldstrike Resources) is a project generator in western Canada. They are currently focusing on their Atsutla project (100,000 acres), which is comprised of two properties (Willie Jack and Swan). They are looking to follow... more
06/10/2024
Analysis
Updated: Carawine Resources Ltd
Carawine Resources is a project generator focused in Australia. They have three gold projects but their main focus is the Oakover base metals project in which they have a 25% JV on the Flanagan Bore manganese prospect. Other than that, their main gold... more
06/09/2024
Analysis
Updated: Great Pacific Gold Corp
Great Pacific Gold (previously Fosterville South Exploration) is a project generator focused in Australia and PNG (Papua New Guinea). It has several properties in Victoria (1 million acres) near Kirkland Lake's Fosterville mine, and are drilling... more
06/09/2024
Analysis
Updated: Reyna Silver Mining Inc
Reyna Silver is a new project generator focused in Mexico. This is an interesting company with a lot of excitement. They have two properties in Mexico that could have a large high-grade mine. The first one is GuiGui, which is next to several large mines... more
06/09/2024
Analysis
Updated: Mayfair Gold Corp
Mayfair Gold is a new company that acquired an advanced gold project (Fenn-Gib) from Pan American Silver. It is a 3.5 million oz (.9 gpt) open pit, with exploration potential to add to the open pit and underground. It looks like a slam dunk that will be... more
06/09/2024
Analysis
Updated: Snowline Gold Corp
Snowline Gold is a new project generator focused in Canada. They have 8 properties in the Yukon (700,000 acres). In 2021 and 2022 they released some good drill holes at Jupiter (6 meters at 14 gpt) and Valley (135 meters at 1.1 gpt), and investors bid up... more
06/08/2024
Analysis
Updated: AuMEGA Metals Ltd
Matador Mining is advancing two gold projects in Newfoundland, Canada. Their flagship project is Cape Ray, which has a PEA in place to commence mining at a rate of 80,000 ounces annually, with cash costs of only $700 per ounce. It is a high-grade open... more
06/07/2024
Analysis
Updated: Max Resource Corp
Max Resource Corp has 2 projects (one in Colombia and one in Peru). Their flagship prospect is the Cesar Copper-Silver project (250,000 acres) which they believe could become a new Kupferschiefer discovery, similar to the huge deposits in Europe.... more
06/07/2024
Analysis
Updated: Metallis Resources Inc
Metallis Resources is a project generator with two early-stage exploration projects. Their main focus is the Greyhound project, which was acquired in 2024. It contains a 3.6 km long mineralized shear zone measuring up to 12m, and two past-producing gold/s more
06/07/2024
Analysis
Updated: Silvercorp Metals Inc
Silvercorp Metals is a Canadian-based company with several silver mines in China. They have large resources with 350 million oz at 200 gpt. Their cash costs are around $3 per oz (after using base metals for offsets). All-in costs for silver are about $16... more
06/07/2024
Analysis
Updated: Angus Gold Inc
Angus Gold is a new project generator focused in Ontario, Canada. They have two early exploration projects. Golden Sky is in an excellent location, near existing large gold mines. They have acquired 5 properties, which encompass 55,000 acres. Their other... more
06/07/2024
Analysis
Updated: First Nordic Metals Corp
First Nordic Metals (formerly Barsele Minerals) was created from a spin-out from Orex Minerals. They have a single project, which is the Barsele gold project in Sweden. It is currently a 2.4 million oz (2.4 gpt) open pit and underground project. They... more
06/07/2024
Analysis
Updated: Silvercorp Metals Inc
Silvercorp Metals is a Canadian-based company with several silver mines in China. They have large resources with 350 million oz at 200 gpt. Their cash costs are around $3 per oz (after using base metals for offsets). All-in costs for silver are about $16... more
06/07/2024
Analysis
Updated: Hycroft Mining Holding Corp
Hycroft Mining is the rebirth of Allied Nevada, which went bankrupt several years ago. They have expunged most of their debt, although they still have $116 million in debt (no principal payments are due until 2027). They have one of the largest gold/silve more
06/07/2024
Analysis
Updated: Klondike Gold Corp
Klondike Gold has three properties in the Yukon totaling 135,000 acres. There is gold on these properties and if gold prices explode in value, this company should do well. They drilled about 50 holes in 2016, 2017, 2018, 2019, 2020 and 2021. Although... more
06/06/2024
Analysis
Updated: Emerita Resources Corp
Emerita Resources has a large historical resource (Aznalcollar) in Spain. It is 75 million tons at 60 gpt, plus high grade zinc and lead. It is likely an economic mine. It looks exciting, although Aznalcollar is currently tied up in a legal battle. The... more
06/06/2024
Analysis
Updated: Impact Minerals Ltd
Impact Minerals is a project generator focused in Australia. They have multiple gold projects but for the moment their main focus are the Ni-Cu-PGM and alumina projects. Their recent focus has been on a high grade Lake Hope project, that is low carbon... more
06/06/2024
Analysis
Updated: Antipa Minerals Ltd
Antipa Minerals is a project generator in Australia. They have Four large (1 million acres) properties. Three are JVs and Minyari Dome could be a development project. It has 1.8 million oz (1.6 gpt), plus copper offsets.
The scoping study for Minyari... more
06/05/2024
Analysis
Updated: Silver Mines Ltd
Silver Mines Ltd is trying to become a mid-tier silver producer. Their Bowdens project (500,000 acres) in NSW is the largest undeveloped silver project in Australia (170 million oz). It is low grade (60 gpt), but has zinc and lead offsets (400 million oz... more
06/04/2024
Analysis
Updated: Bonterra Resources Inc
BonTerra Resources is developing a gold project (Bachelor-Moroy) in Quebec. However, their upside potential comes from a JV project (Urban-Barry-Gladiator) with Osisko Mining. They own 30% and it is currently 3M oz’s. I think it will grow into 4M oz....... more
06/04/2024
Analysis
Updated: Honey Badger Silver
Honey Badger Silver (Previously Honey Badger Exploration) is a project generator focused in Canada. They changed their name and started looking for more silver properties. They added 3 projects in the Yukon (Groundhog, Hy and Plata) and 3 more recently,... more
06/04/2024
Analysis
Updated: Bonterra Resources Inc
BonTerra Resources is developing a gold project (Bachelor-Moroy) in Quebec. However, their upside potential comes from a JV project (Urban-Barry-Gladiator) with Osisko Mining. They own 30% and it is currently 3M oz’s. I think it will grow into 4M oz....... more
06/03/2024
Analysis
Updated: Barton Gold Ltd
Barton Gold is a new Australian gold developer that did its IPO in 2021. They have two very large properties in South Australia, plus a mill. Tunkillia (300,000 acres) has a 1.5 million oz (.9 gpt) open pit deposit that is being advanced to production (ta more
06/02/2024
Analysis
Updated: Zonte Metals Inc
Zonte Metals is a project generator focused in Canada. They have an early exploration gold project in Newfoundland (Cross Hills). They found many gravity anomalies that are potential targets but have only been able to drill one of them so far (K6), which... more
06/01/2024
Analysis
Updated: Golden Shield Resources Inc
Golden Shield Resources is a project generator focused on South America, with three gold projects in Guyana. Their primary focus is the Marudi project, a 13,000-acre property. They also have two other projects: Arakaka, spanning 42,000 acres, which has... more
06/01/2024
General
May 2024 Newsletter Posted
May 2024 Newsletter Posted. more
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